News Articles

NORTHBROOK, Ill. (June 14, 2013) – Coldwell Banker Residential Brokerage announces the $5.2 million sale of Longacres, a Harbor Country 5.3 acre lake front estate, with 195 feet of private beach in Lakeside, Michigan.  This marks the highest home sale in Southwest Michigan since 2005, and the third largest sale in over fourteen years.  This notable listing was marketed and sold through Coldwell Banker’s luxury division, Coldwell Banker Previews International®.  Previews property specialists from the Coldwell Banker New Buffalo office represented both sides of the transaction; Donna Iwamoto represented the seller and Karen Strohl represented the buyer.

 The 5,000 square foot English Tudor was built in 1927 with many of its original architectural details still in place today.  The estate was a wedding gift to the daughter of the successful businessman and local philanthropist, E.K. Warren.  A two bedroom coach house, guest cabin, tennis court and beautifully landscaped gardens are also on the property.  Longacres was the last available Lakeside estate on the market at the time of sale.  Iwamoto and Strohl also listed the only other estate property for sale in Lakeside.  It consisted of  16 acres, which ended up being divided in to three parcels and was sold to 3 separate buyers over the past seven months.

More and more people are ready to start buying, selling and investing in second homes again, especially in an area like Harbor Country which is a popular, upscale destination for Chicagoans.  “In response to the demand for luxury buyers and sellers, we were thrilled at the beginning of this year to add two powerhouse agents to the Coldwell Banker team, Donna Iwamoto and Karen Strohl, who are dedicated to Harbor Country,” explained Craig Hogan, Coldwell Banker Previews Director.  This year, Coldwell Banker also made enhancements to the marketing program of the Previews brand, the luxury arm of Coldwell Banker, to provide their agents with the most sophisticated tools and resources to create the best experience for the high-end client.

As a result, the Coldwell Banker market share for luxury listings over $750,000 in Harbor Country is at nearly     66 percent this year, which is well past the 12 percent market share from 2012 and nearly ten times more than the nearest competitor. Since January, Coldwell Banker Previews has participated in 16 of the 28 luxury property sales in Harbor Country, totaling over $29.9 million dollars.  Iwamoto and Strohl have handled 11 of those 16 sales.  Karen Strohl is a homeowner in downtown Chicago and also works at the Coldwell Banker Gold Coast office.  Donna Iwamoto first came to Michigan from Chicago as a second homeowner.  Both agents have strong connections to Chicagoland with many of their clients visiting Harbor Country for weekends and vacations throughout the year.  And, both agents have lived in Harbor Country for decades and understand the second home lifestyle that many of their clients are seeking.  

About Coldwell Banker Previews International®The Coldwell Banker Previews International® program has been marketing luxury homes since 1933. The exclusive group of certified Previews® Property Specialists make up eight percent of the approximately 83,000 Coldwell Banker sales associates worldwide. Coldwell Banker Previews International participated in more than 16,400 transaction sides of homes priced at $1 million or more in 2012. On average, Previews handles $86.1 million in luxury homes sales every day. The website www.coldwellbankerpreviews.com features more than 17,000 luxury properties from around the globe. Coldwell Banker, Previews and Coldwell Banker Previews International are registered marks licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

On May 29, 2013, the CFPB finalized rules to facilitate access to credit for consumers and amended the CFPB Ability-to-Repay rule.  As you will recall, the ability to repay rule protects consumers from taking on loans they do not have the financial means to pay back.  I think everyone would agree that we as an industry do not want to make mortgages where the people have a high probability of default.  This is exactly what probably and likely will happen (defaults) with one of the new rules.

The final rule exempts from the “Ability to Repay” rules certain non-profit and community-based lenders that work to help low and moderate income consumers obtain affordable housing.  In laymen’s terms, it allows these lenders and only these lenders to exceed the 43% debt to income ratio.  This is totally insane/ridiculous.  The CFPB is going to let ratios exceed 43% to the group of people with the least ability to repay—i.e. low to moderate income folks. For example, a person with a total debt to income ratio of 47% and a monthly income of $3000/month is more likely to default than say a doctor with the same 47% ratio but has a monthly income of $13,000.  The doctor has a great deal more disposable income to pay bills and house payments than the person making $3,000 per month, but the doctor does not qualify because he/she is not low income.

The original Dodd-Frank Act mandates that Qualified Mortgages have limited points and fees and that compensation paid to loan originators, loan officers and brokers is included in the points and fees.  The purpose of this cap was to ensure that lenders offering Qualified Mortgages do not charge excessive points and fees.  The amendment issued last week provides certain exceptions to this Dodd-Frank requirement that loan originator compensation be included in the total permissible points and fees for both Qualified Mortgages and high-cost loans.

Under the revised rule, the compensation paid by a mortgage broker to a loan originator employee or paid by a lender to a loan originator employee does not count toward the points and fees threshold.  The above changes will take effect on January 10, 2014.

(CHICAGO) June 5, 2013 – Coldwell Banker Residential Brokerage announced today that award-winning chef, TV host, author and philanthropist Charlie Trotter is selling his famed restaurant Charlie Trotter’s and the adjoining property next door for $3.8 million. This notable listing will be marketed through agents Suzanne Gignilliat and Bruce Heller under Coldwell Banker’s luxury division, Coldwell Banker Previews International®, and the brokerage’s commercial arm, Coldwell Banker Commercial NRT.

Charlie Trotter’s features a Viennese Bierdermier style interior, banquettes with custom woven wall fabric that line the main 90-seat restaurant, silk draperies and plush carpeting throughout. The wine cellars are stationed throughout and can hold up to 10,000 bottles. There are no statues or artwork, because Trotter felt as though the “food was the art, and the dining room was the canvas.”

A focal point of Charlie Trotter’s is the kitchen, which boasts more than one million dollars of culinary equipment and is considered one of the most spectacular restaurant kitchens in the world. In fact, the kitchen is one of the few restaurant kitchens in the country with the tools comparable to a five-star hotel kitchen. Among its features are under the countertop refrigeration, self-cleaning water wash hoods, spring-loaded refrigerator doors, a stainless steel ceiling with smoke eating exhaust equipment to purify the air and eliminate airborne grime, deck lighting below the counters, and fluorescent and incandescent lights installed above the expeditor’s station, so that Trotter and his team of chefs could see a dish in the same light as a diner. The stove is a custom-made Bonnet Stove, which is one of the most expensive cooking ranges in the restaurant industry.

“This listing is unique and very special for many reasons,” said Suzanne Gignilliat. “It’s perfect for a top chef or restaurant group looking for an elegant space and state-of-the art kitchen located in a well-populated neighborhood, or for a buyer interested in a historically landmarked residence with ample space and storage. The properties can be bought together or separately.”

Trotter was raised on Chicago’s North Shore and after traveling and serving as an apprentice for three years at more than 20 restaurants, he returned to the Chicago area in 1986 to open his own restaurant. Trotter’s vision for its location was inspired by his visits to spectacular brownstone restaurants in cities across the globe and realizing that there was a void in Chicago. Trotter purchased the restaurant with his father and partner Bob Trotter in August of 1987 in the Lincoln Park neighborhood. They also purchased the house next door to the restaurant, which served as an office, test kitchen and set for Trotter’s PBS TV series, The Cooking Sessions with Charlie Trotter, for many years. Today, the adjoining property canalso be used as living quarters and for additional storage space areas. Built in 1908, these two brownstone buildings are designated with a historical Chicago Landmark status.

Trotter had a staff of more than 60 employees, including his mother Donna Lee Trotter, who served as a tour guide and chatted with guests as they dined. In addition, Trotter hosted nearly 200 events in the private dining rooms – a combination of weddings, birthday celebrations and fundraisers.

Trotter decided to list the property after closing his restaurant in the fall of 2012. After more than 25 years of leading the kitchen and also the business operations of the restaurant, Trotter changed course in order to focus on a new phase in his life. He is grateful and humbled by all of the support over the years, and is proud to have prepared dishes for many dignitaries and celebrities in the now-listed restaurant property, such as Paul McCartney, Sting, Robert Redford and Michael Jordan to name a few. In addition to his various awards and accolades, Trotter has hosted other top chefs such as Emeril Lagasse to cook in the kitchen and also has served as a pioneer who elevated Chicago’s culinary scene and helped pave the way for many chefs today.

“Charlie Trotter is known for being one of the world’s best chefs, and we are pleased to add his restaurant to our portfolio of properties,” said Craig Hogan, Coldwell Banker Previews International Luxury Director for Chicago. “As the leading luxury real estate brand in Chicagoland, we have been selling some of the most unique properties in the area for many years. To feature this historic restaurant and assist Charlie with closing this chapter in his storied culinary career is very exciting for us.”

About Coldwell Banker Previews International®The Coldwell Banker Previews International® program has been marketing luxury homes since 1933. The exclusive group of certified Previews® Property Specialists make up eight percent of the approximately 83,000 Coldwell Banker sales associates worldwide. Coldwell Banker Previews International participated in more than 16,400 transaction sides of homes priced at $1 million or more in 2012. On average, Previews handles $86.1 million in luxury homes sales every day. The website www.coldwellbankerpreviews.com features more than 17,000 luxury properties from around the globe. Coldwell Banker, Previews and Coldwell Banker Previews International are registered marks licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

About Coldwell Banker Commercial NRTColdwell Banker Commercial Affiliates is one of the leading franchisors of commercial real estate services through the Coldwell Banker Commercial® brand. Coldwell Banker Commercial is a registered trademark licensed to Coldwell Banker Real Estate LLC. Through its independently owned and operated offices, the Coldwell Banker Commercial network is a premier provider of real estate services and is a leader in the commercial real estate industry. The Coldwell Banker Commercial network of brokers serves the needs of owners and occupiers in the leasing, acquisition, disposition, structured finance and management of all property types. The Coldwell Banker Commercial network of commercial brokers can be found in 41 countries in North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, the world’s largest real estate franchisor. For additional information on Coldwell Banker Commercial NRT visit our Web site at www.cbcworldwide.com.

About Coldwell Banker Residential BrokerageColdwell Banker Residential Brokerage, a leading residential real estate brokerage company serving Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, operates 51 offices with more than 3,250 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information, please visit www.coldwellbankeronline.com.

CHICAGO, IL (May 31, 2013) – As summer approaches, many home sellers and agents are looking to the great outdoors to catch a buyer’s eye. Offering an outdoor sanctuary adds value to a home, whether it’s a beautiful garden, alfresco dining space, screened-in sun room or a resort worthy swimming pool. These outdoor living and entertaining spaces have made their way to the top homebuyers’ wish lists.

American homeowners increasingly are drawn to adding outdoor rooms for entertaining and recreation, according to the 2013 Residential Landscape Architecture Trends survey. In fact, the category of outdoor living spaces, defined as kitchens and entertainment spaces, received a 94.5 percent rating as somewhat or very popular.

“Creating an outdoor oasis that extends beyond your typical terrace or deck can be an important point of differentiation and may sway a buyer’s decision,” said Fran Broude, president Coldwell Banker Residential Brokerage. Here are some ideas on how to make the most of your space and create a backyard that you’ll never want to leave.

Go alfresco: There’s no better way to enjoy a meal than under the stars, especially when hosting guests. Go the extra mile by setting up a full service bar and built-in cook’s station in the backyard.

See the light: Continue entertaining into the evening by installing outdoor lighting. For example, Tiki torches add a tropical vibe, while low voltage lighting provides a mellow and peaceful feeling.

Make it last: Further helping to blur lines between outdoor and indoor spaces is the rise of screened porches, heat lamps and outdoor fireplaces, making them livable nearly year-round.

Decorative water elements: By including a waterfall, swimming pool or hot tub you will feel like you’re at the spa every day. If you want to be really unique, build a fountain or a fish pond that will give your yard a sense of tranquility.

Check out this home currently on the market that has amazing outdoor space:

This eclectic home in the West Town neighborhood has is situated on three combined city lots with a gigantic private yard that is unheard of for city living! The landscaping and outdoor dining table looks perfect for outdoor entertaining. It is for sale by agent Joseph Gasbarra for $2,750,000.

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company serving Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, operates 51 offices with 3,250 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information, please visit www.coldwellbankeronline.com.

CHICAGO, Ill. (May 16, 2013) –Father’s Day is the perfect excuse for the man of the house to start a home project that focuses solely on him – the “man cave.” Let’s face it, the deal-breaking elements in a house are often geared towards the woman, like the walk in closets, immaculate kitchens and spa worthy bathrooms, but men need playrooms too! Whether it’s a den transformed in to a sports haven, a basement turned pub for poker nights or maybe even a basketball court in the back yard, there are unlimited possibilities when it comes to adding some testosterone to your home. Coldwell Banker Residential Brokerage provides some key factors to consider while planning your “man cave” makeover.

Focus on a themeFirst determine a theme based on your personality and interests. Are you a sports fanatic? A car enthusiast? An avid memorabilia collector? Or maybe a cigar aficionado? Next, identify one element that is a must-have for your space, like a pool table, bar, or a theatre size flat screen, and then build the rest of the room around that object.

Make it multi-functionalWhy not kill two birds with one stone? Make the most of your new space by organizing your personal items, trophies, or memorabilia that have been taking up space in storage. Take advantage of the many attractive and functional options that are available in shelving and wall units to display your most prized possessions.

Don’t skimp on styleGet creative and think outside the box. Every detail counts down to the paint color, wall art, furniture, and the flooring. Keep it clutter free, simple and sophisticated no matter what your theme is so that you can lounge in style.

Check out some of Coldwell Banker Residential Brokerage’s favorite man caves currently on the market:

Who said a cave had to be indoors? This Lincoln Park home has a private outdoor basketball court. It is currently for sale, listed by Coldwell Banker Residential Brokerage agent Jennifer Ames for $2,699,000.

This River North home has everything you could ever dream of. One of the most unique features is the bar with a full lounge seating area. The house is for sale for $4,195,000, listed by Coldwell Banker Residential Brokerage agent Kip Karl.

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company serving Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, operates 51 offices with 3,250 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’scompany-owned real estate brokerage offices. For more information, please visit www.coldwellbankeronline.com.