NEW LISTING~9811 N. Greenwood Ave Niles,IL 60714 Completely Remodeled. Move-In Ready

NEW LISTING~9811 N. Greenwood Ave Niles,IL 60714 Completely Remodeled. Move-In Ready

COMPLETELY RENOVATED TOP to BOTTOM~Luxurious Features- Remote Gate Entry Driveway, Chef’s Kitchen w/Granite+Stainless Steel Appliances including a Wine Cooler, Fireplace, Heated Towel Racks in Baths, Master Retreat w/Double Vanity+Heated Floors+Air-Jet Tub, ALL NEW EVERYTHING UP TO THE ORIGINAL BRICKWORK (ELECTRIC, PLUMBING, WINDOWS, ROOF, GUTTERS, NEW 2.5 CAR GARAGE with KEYPAD ENTRY AND 2nd LEVEL STORAGE. Finished Lower Level with Family Room, 2ND KITCHEN, FULL HOTEL-LIKE BATH, + 2 EXTRA ROOMS. GREAT PATIO & FENCED IN YARD.


New Listing~9444 Lockwood Ave Skokie,IL 60077~Completely Remodeled Move In Ready

New Listing~9444 Lockwood Ave Skokie,IL 60077~Completely Remodeled Move In Ready

COMPLETELY UPDATED and Move-in Ready Home w/ 4 very Large Bedrooms. Master retreat featuring en-suite + Walk In Closet. Hardwood Floors + Granite throughout, SS Appliances. Spacious Living Rom w/ Bow Window, large family rm with beautiful fireplace opens to formal dining room and Pro-landscaped fenced yard w/custom lighting. Lower Level freshly painted w/ new carpet. Amazing Location-Walk to park, Old Orchard Mall, Jane Stenson Elementary + Minutes to I-94

Homepath Mortgages Now Requiring A Higher Minimum Down Payment for Owner-Occupied Homes


Homepath, a financing program that was specifically designed for those purchasing Fannie Mae owned homes, has had a slight update within the past week for those using the program and buying as owner occupied buyers.

The change is in regards to the minimum down payment required with this loan product, the new minimum down payment is now 5%, whereas it used to be 3.5%.

Some benefits to using a Homepath Mortgage are:


2. EXPANDED SELLER CONTRIBUTIONS.( Example:You can ask the seller to help pay your closing costs, this is possible with most loans, but the options are greater on Homepath)

3. NO APPRAISAL: You read that correctly. Homepath homes are listed at what the market price should be, if it sells for more that means the marketplace is willing to pay more for that home.  You may have heard of appraisal nightmares from friends, well no appraisal here.

4. CONDO BUYERS- Much easier guidelines for condos. If you have a low down payment on other mortgage programs such as FHA, it may be a nightmare trying to find a condo that you can finance.

5. Great Idea??? Maybe. Talk with a lender to find out how using a Homepath Mortgage will affect you and your monthly payments financially. Don’t have a lender? I work with several area lenders and would be more than happy to refer you to them.

Remember, Homepath applies to Fannie Mae owned homes only. Most Fannie Mae owned homes are foreclosures that have been taken back by the bank and get listed as Real Estate Owned(REO) properties.

For more information on Homepath and Homepath Loans, check out the website:

“Effects of Rising Interest Rates on Buying Power and Home Affordabilty” (Learn the Easy Secret of How to Save $91,118.88 on Your Next Home Purchase)

North Shore Homes

It’s a dreaded topic that many people really don’t want to have to think about, but one I have been very vocal with my clients about for the past year. So this post will focus on the basics, and what those interest rates really mean for your savings account.  If you feel this topic is dry and boring, that is because for most people, IT IS. Money on the other hand, is an interesting topic for most people, as long as its how you can have more of it, while working less.

So here goes… As mortgage interest rates go up, your monthly payment will too, until you lock in a fixed mortgage interest rate.

Say you want to buy a home and want to borrow $100,000 from the bank. The bank says they will let you borrow the money at an interest rate of 3.25% and lock that rate in for you for the next 30 years while you pay that back in about 360 equal payments until it is paid off. That puts your monthly mortgage payment at $435.21.

Now lets say you wait till tomorrow to buy that SAME home, but tomorrow you go to the bank and interest rates have gone up to 4.25%. The same bank is willing to let you borrow that $100,000 at the new rate of 4.25%, meaning your new mortgage payment is now locked in for 30 years at $491.94 per month.

If you notice the difference in the numbers, the 1% rise in mortgage interest rates makes your monthly mortgage payment go up by $56.73. So over 12 months, you spend about $681 more FOR THE SAME AMOUNT OF MONEY BORROWED! To be clear, you get nothing extra for the additional $681 you spend. You don’t get a larger home, and you don’t get a more expensive home. We are talking about how buying THE SAME HOUSE, will cost you more money as interest rates rise.

Now, I was only speaking hypothetically about a $100,000 loan.  To see how this plays out in today’s market, let’s say you are moving to Chicago’s North Shore where in October 2013, the Median Home Sales Price was $525,000. You put 20% down and borrow $420,000.

Watch how interest rates affect your payment on a $420,000 loan:

With an interest rate of 3.25%  your payment is $1827

With an interest rate of 4.25% your payment is $2066

With an interest rate of 5.25% your payment is $2319

If you’re still with me, great and thanks for hanging in there! So now, how to save a ton of $$$$: When I first started talking about the effects of interest rates with my clients, it was still possible to get a 30 year fixed rate loan at an interest rate of 3.25%. Most interest rate forecasts we see today tell us that those days are gone. You missed that boat, but you can still catch this one.->Interest rates are bouncing around the 4.25% range at the time of this writing, and the forecasts we are seeing is that rates will eventually stabilize near the 5.25% range, this may be approximately 1 year from now, give or take, depending on how the economy performs.

Buying that $525,000 North Shore Home at today’s rates vs waiting to buy the same home until later when rates are forecast to be in the 5.25% range, will cost you approximately $91,118.88 MORE in INTEREST PAYMENTS ALONE, while paying down that home over 30 years at the fixed rate. Remember, we are talking about buying the SAME home with only a 1% change in interest rates. We are not even taking into account what happens if you wait and home prices rise. 

If you look at the numbers from the home affordability perspective, lets assume that the bank tells you that you are qualified for a $1500 per month mortgage payment. This is how the interest rate will effect how much money the bank will let you borrow and in turn how much home you can afford.

Interest rate of 3.25%  will afford a mortgage of $345,000.

Interest rate of 4.25%  will afford a mortgage of $305,000. (You can now only afford a home that is $40,000 cheaper)

Interest rate of 5.25%  will afford a mortgage of $271,500. (You can now afford only a home that is $33,500 cheaper)

So that shows you that as interest rates increase, to be able to stay within your budget of $1500 per month for the mortgage payment, you will need to look at homes that are priced less. That may mean that you may need to look at smaller homes if you want to be in a specific neighborhood, or you may need to change neighborhoods to an area where homes are cheaper if you want to buy a certain size home.

I have kept the details and the numbers pretty basic in this example. There are several factors that will affect interest rates and several other factors beyond the mortgage payment that you will want to consider. The interest rate and home purchase price you qualify for will depend on your financial situation. Contact a mortgage broker to find out what they can pre-approve you for and how comfortable you are with those payments. All numbers above are estimates and to be used for educational purposes only. Naturally, your savings will vary depending upon the price of the home and the interest rate.

Looking to buy in the Chicagoland Area but don’t know who to talk to about the process? E-mail me if you have questions about the process, what you can be doing to prepare for it, or who you can talk to in order to get pre-approved for a loan.  If you’re not in the Chicagoland area, and would like to be put in touch with an agent in your area, let me know where you are looking and I can put you in touch with an agent in my network across the United States. The purpose of this post was to show you that a small change in interest rates will have a very large impact on the amount of money you spend over the life of the loan. Home affordability is most likely the best this generation will see, and affordability will only go down as interest rates and home prices rise.

If you’re still reading, congratulations, you’ve made it to the end and hopefully learned something new!

Paul Cionczyk is from the Millennial Generation. He is an Illinois Licensed Real Estate Broker and Realtor.  Having graduated from the University of Illinois Urbana-Champaign with a Degree in Economics, Paul applies his knowledge in a “dollars that make sense” approach to help home buyers and sellers attain their home-ownership goals.  Paul’s focus is on first time home buyers, and move-up sellers looking to get into Chicago’s North Shore area.

Questions, contact me:

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Glenview Residents Up in Arms over Proposed MEGA Church Construction

Any large parcel of undeveloped land that comes available will naturally garner a lot of attention in an area where land prices are very expensive. A large piece of land near the Glen here in Glenview is no different.  Code named “Parcel 24”, a 41 acre parcel of land on the NW corner of Shermer and Lake, formerly a part of the naval station and purchased by the Village of Glenview, this plot of land has been the topic of argument over the past couple of months, as the Village of Glenview has sold 12 of those acres to the Willow Creek Community Church for the development of their newest mega church addition.

The church, which would consist of a 1200 seat auditorium, a 350 seat cafeteria, and about 714 parking spaces, is approximated to have a building total of about 81,000 Square Feet. One of the main arguments around this development would be the concentrated amount of traffic in the area.

The remainder of “Parcel 24” was sold to Edward R James Partners, a Glenview based home builder, who plans to build 171 housing units on that property utilizing a mix of row homes, town homes, and single family villas.

Follow the changes with the Village of Glenview on their website, as they have been making changes to the planning commission meeting dates and times.

What are your thoughts? Comments? Concerns?  Should Glenview allow the building of a Mega Church? Do you feel the Church will benefit the area?

Some useful sources with more info:

Glenview Planning Website

Southgate Residents Opposing New Willow Creek Location

Willow Creek Church Parcel 24 at the Glen Website

Chicago’s Free Museum Days

Did you know that as an Illinois resident, you can take advantage of Chicago’s Free Museum Days? If you’ve been to some of the museums lately you may have found that you can easily spend $120 for a family of four basic entrance fee, and still not see the best attractions there. The Shedd Aquariums Total Experience Pass costs $52.95/adult and $37.95/child when purchased same day online!  So take advantage of these free offers, and get there early. You probably won’t be the only one showing up for the free museum day 🙂


Free general admission for Illinois residents on these upcoming 2013 dates:
June 4–6, 10–12


Admission to the Art Institute of Chicago is free to Illinois residents every Thursday evening from 5-8pm.

Additionally children under age 14 are always free and the public can enjoy the following museum areas free of charge:

  • The Ryan Education Center in the Modern Wing, as well as all programs for families and children within the center
  • The North and South Gardens (accessible from Michigan Avenue)
  • The Nichols Bridgeway connecting the museum to Millennium Park
  • The Bluhm Family Terrace on the 3rd floor of the west pavilion of the Modern Wing


Free general admission for Illinois residents on the following 2013 dates:
January 7–11, 14–18, 21–25, 28–31
February 6, 13, 20, 27
March 4
April 22
May 6
June 3–7, 10
September 9–13, 16–20, 23–27, 30
October 1–2
November 4
December 9


Free general admission for Illinois residents on these upcoming 2013 dates:
January 7–8, 15–18, 22, 28, 30 
February 4–8, 11–15, 19–22, 25–28
March 6–7


Free general admission for Illinois residents only on the following 2013 dates:
June: 3–4, 10–11, 17–18, 24–25


Free admission for Illinois residents only on the following 2013 dates:
January 21
February 4–28
March 4


Free admission for visitors age 15 and under on Target Free First Sundays, offered the first Sunday of each month. Additionally there is free admission for all visitors on Kraft Free Family Night, offered Thursday evenings 5-8pm.


Admission is free for Illinois residents on Tuesdays year round.


Thursdays are suggested donation days for Illinois residents year round.


Admission is free to all on each Sunday of the year. The museum also offers free admission rates (on school days) to all Chicago Public School students.


Admission is free for all visitors every Tuesday, year round.


Admission is free for all visitors on the second Tuesday of the month, year round.


Tours are free on Wednesdays, year round (not applicable to groups of ten or more).


Tours are free on Wednesdays, year round (not applicable to groups of ten or more).


Tours are free on Wednesdays, year round (not applicable to groups of ten or more).



Related Listings

Adler Planetarium
1300 S. Lake Shore Dr.
Chicago, IL 60605
(312) 922-7827
Art Institute of Chicago
111 S. Michigan Ave.
Chicago, IL 60603
(312) 443-3600
DuSable Museum of African American History
740 E. 56th Pl.
Chicago, IL 60637
(773) 947-0600
Museum of Science and Industry
57th Street and Lake Shore Dr.
Chicago, IL 60637
(773) 684-1414
Swedish American Museum
5211 N. Clark St.
Chicago, IL 60640
(773) 728-8111
Shedd Aquarium
1200 S. Lake Shore Dr.
Chicago, IL 60605
(312) 939-2438
Museum of Contemporary Art
220 E. Chicago Ave.
Chicago, IL 60611
(312) 280-2660
The Field Museum
1400 S. Lake Shore Dr.
Chicago, IL 60605
(312) 922-9410
Clarke House Museum
1827 S. Indiana Ave.
Chicago, IL 60616
(312) 326-1480
Glessner House Museum
1800 S. Prairie Ave.
Chicago, IL 60616
(312) 326-1480
Peggy Notebaert Nature Museum
2430 N. Cannon Dr.
Chicago, IL 60614
(773) 755-5100


As Seen on:


You can read more about the Shedd Aquarium here:


Paul Cionczyk is a University of Illinois CU Alumn and is a licensed Real Estate Broker from Glenview,IL who works with clients buying and selling on the North Shore. Are you ready to make your move? You can do it, Paul Can Help.

Benefits of Trees in Glenview,IL 60025

Ok. So I’ve gotten into running more and more over the past 2 years. What’s that got to do with this blog post you ask? Well I like to run in my local neighborhood in the 60025. Earlier this week, I came across these signs posted up and down the streets in my neighborhood( I think most were on Dewes or Henley west of Harlem):


Apparently, the Boy Scouts of Glenview Troop 32 ran the numbers on the benefits of the trees in our neighborhood. Each of the signs details what each tree is and how it benefits us along with the estimated dollar value of such benefits. It provided for a very informative read. The tree lined streets of Glenview are beautiful all year round, and this may be the result of Glenview’s strict policy on cutting down and replacing trees along with its initiative to replant trees that were lost due to disease and wood destroying insects.

So props to Boy Scout Troop 32 of Glenview, find more info on them here:

Want more info about Glenview? Check out the Villages Website here: