Living in the Downtown Area

I found an interesting story today posted on HGTV.com about the advantages of living in a downtown urban area and couldn’t help but compare it to our Norowood properties!  The Chicago suburbs of Mount Prospect and Roselle are just two examples of how you can get the convenience of an urban area such as the Metra train and walkable access to stores and restaurants yet still enjoy the suburban amenities you love like indoor, heated, garage parking and more affordable living.

What do you think? Do you find the downtown suburban areas advantageous to your lifestyle?

The excerpts below describe the benefits of living in a downtown area:
What It’s Like to Live in an Urban Home: If you love being where the action is, look for convenient living in a city’s downtown area
By Karin Beuerlein, FrontDoor.com; Published: 8/12/2008

For the hip home seeker who longs to be near great food and culture, neighborhoods in a city’s downtown area hold a nearly irresistible attraction. The “urban core” typically has a higher crime rate and less favorable schools than the suburbs, but many downtown areas across the country are undergoing a revitalization of sorts, as cities invest in projects and amenities to attract new residents. And as more people look for alternatives to long commutes and urban sprawl, homebuyers are flocking to the urban core.

Advantages of Urban Core
Professional writer Toni Kamins has owned a co-op in Manhattan’s trendy West Village for 16 years. “What I most appreciate is the constant availability of just about anything you want,” she says. “I know I miss that when I go out of town.” In a centrally located urban neighborhood, you can typically walk or take a bus, taxi or subway to restaurants, bars, shops, museums, libraries and parks — not to mention use public transportation or your own two feet to get to work each day.

About the Neighborhoods
Homes in the urban core can be skyscraper apartments, converted lofts in old warehouses, spaces above operating businesses, row houses, brownstones — if someone can build it, someone else will figure out a way to live in it. Neighborhoods often vary widely in demographic and socioeconomic development, sometimes even from block to block.

Climbing Popularity — and Prices
Trouble is, urban core neighborhoods by nature have defined geographic limits, so it’s difficult to keep a great little spot all to yourself.  Living downtown can sometimes mean getting rid of your car and all the expenses it entails.  In smaller metropolitan areas, core neighborhoods often feature a diverse selection of properties with a wide price range.

Condominiums above retail shopping and walkable access to Metra

Nine Real Estate Trends for 2009

Excerpts taken from RISMEDIA, December 17, 2008

I found this article online today and thought it was interesting in how it correlated to many of the Norwood offerings! It’s great to be a trendsetter! What do you think of these nine trends?

1. Less, With More. Single-family homebuilders are predicting the continued movement toward smaller homes, with many buyers opting for less square footage as a means of saving more. Buyers are also very energy conscious, which is another reason why builders who offer smaller homes might find themselves more successful going forward.

2. The New American Dream. Homeownership has long been considered one of life’s benchmarks, so much so, that the concept earned the moniker, “The American Dream.”  Renting is still a viable option, with rent-to-own programs available from many builders to make home ownership a reality.

3. Urban Suburban. For years, a new-construction home in the suburbs meant moving into a cookie-cutter subdivision. But according to many suburban developers, their focus going forward won’t be simply building homes, but entire downtowns complete with residential, retail, restaurants and more.

4. Condo-MAX-iums. According to the National Association of Homebuilders, the average single-family home is 2,456 square feet. However, Chicagoland’s developers have noticed buyers – from young families to downsizers – are looking for the same amount of square feet when buying a condominium.

5. Online Toolboxes. According to the 2007 National Association of Realtors Profile of Home Buyers and Sellers, 84% of buyers use the Internet to search for a new home. Taking a cue from these findings, leading Chicagoland residential brokerage firms will be taking their services a step further by enhancing their sites with user-friendly Web tools that do much more than list homes for sale.

6. Common Ground. In the city, where green space is as high in demand as a parking space, some developers will start going the extra “yard” to give Chicagoans more outdoor community spaces.

7. The Sure Thing. Immediate move-ins and completed homes mean the development or building is already established and there is no worry about what the ‘future’ will bring.

8. The Resurgence of Rowhomes. Dating back to colonial Philadelphia and Boston, the rowhome is a hallmark of traditional city living.

9. Creating Community. Many developers today are taking strides to form a sense of community among new residents before their homes are built – a trend that is expected to continue into 2009.

Norwood Builders offers attractively priced condos in Roselle and Mount Prospect

NEW PRICES AS LOW AS $179,900; FIRST-TIME BUYER $7,500 INCENTIVE NOW IN EFFECT

Norwood Builders is making it easier than ever to afford a brand new condominium in a hotspot location. A spacious new home can be claimed for as low as $179,900 at Park Street Crossing in Roselle and as low as $219,900 at The Emerson at Village Centre in Mount Prospect.

At Park Street Crossing, four specially priced residences are available:
• The Poppy, featuring 947 square feet of living space, including a great room, large kitchen with breakfront breakfast bar, in-home laundry, balcony, and indoor heated garage space plus storage, is priced at $189,900 (all prices subject to change without notice) and available for move-in in as early as 60 to 90 days. Even better, the buyer who acts fast can still choose all their finishes and selections.
• Three Bittersweet plans, each with 896 square feet, featuring an eat-in kitchen, great room, in-home laundry, balcony and indoor heated garage space plus storage—starting at $179,900; one is available for immediate occupancy, while the other two can be move-in ready in as early as 60 to 90 days, and the buyer can choose their selections and finishes.

At The Emerson at Village Centre, meanwhile, buyers can select from four condominiums priced under $225,000. Two different floorplans are represented, and most of these units feature one bedroom and one bath. Two are ready for immediate occupancy.

“We’re responding to the needs of the market and the current economic downturn by aggressively pricing our homes,” said Bruce Adreani, president of Norwood Builders, who added that the adjustments are only in effect for a limited time. “This is particularly appealing to first-time buyers, who can benefit from a variety of favorable factors now in place.”

For starters, first-time buyers can qualify for the government’s $7,500 tax credit. This allows any buyer who has not owned a home during the past three years and is a taxpaying U.S. citizen to take a $7,500 tax credit, if they close before July 1, 2009 (for more details and provisions, visit www.federalhousingtaxcredit.com).

“In addition to that incentive, Norwood Builders will match Uncle Sam’s $7,500 credit with an extra $7,500 credit of our own,” said Adreani. “For a limited time, buyers can apply our $7,500 credit toward their home’s purchase price or they can use it toward options or upgrades such as upgraded cabinets, granite countertops and stainless steel appliances in the kitchen.”

Adreani noted that Norwood’s added $7,500 incentive is good only through November 30, 2008. He went on to say that it’s even more advantageous to the first-time buyer to purchase and close before the end of 2008 so that they can reap the tax benefits of their next tax return. If they wait until next year, they won’t get to claim the tax benefits until the following spring.

Roselle luxury and value
Located at the corner of Park and Main in Roselle, Park Street Crossing features 62 luxury condominiums. In all, shoppers can choose from 18 one- and two-bedroom condominiums. Base prices range from $179,900 to $465,900, while sizes vary from 896 to 2,171 square feet. Buyers can take advantage of price incentives available for a limited time and purchase a new condo for less than $200,000.

Among the standard inclusions are a breakfast bar or eat-in kitchen, an in-home laundry room, walk-in closets, heated indoor parking and a private balcony. The building also provides radiant heat through the floors, a feature that maintains more even temperatures and increases energy efficiency. Monthly association fees ranging from $140 to $311 include the cost of water, refuse removal, and gas for cooking, laundry and heat.

Park Street Crossing residents won’t even have to venture far to work out, because Anytime Fitness occupies one of the retail spaces at the building’s street level. The first floor includes a separate building with approximately 8,000 square feet of retail space, bringing shopping and local conveniences even closer to home. Also, residents are within walking distance of the Roselle Public Library and village services, while Woodfield Mall and Stratford Square shopping are just a short car ride away.

Park Street Crossing is located at 225 E. Main St., at the corner of Park and Main, just one block south of Irving Park Road and one block east of Roselle Road. To visit the community, take 1-290 and exit Lake Street. Take Lake Street west to Roselle Road and turn north (right). Continue to Maple Avenue and turn right, then left on Park Street. The sales center entrance is located at the corner of Main Street and Howard Avenue, one block east of Park Street. Sales office hours are noon to 6 p.m. Monday, 10 a.m. to 6 p.m. Thursday and Friday, 10 a.m. to 5 p.m. Saturday, and 11 a.m. to 5 p.m. Sunday. For further details, call (630) 894-1000.

Impressive Mount Prospect amenities
The Emerson at Village Centre, set on the corner of Emerson Street and Busse Avenue, is a community of 52 upscale condominiums and duplexes. Designed in a contemporary prairie-style brick exterior, the building boasts appealing curvilinear architecture on the top floor.

Fourteen distinctive condominium designs are available at the community. Each provides one, one-plus-den, or two bedrooms, one to two baths, balcony and/or terrace (depending on the plan selected), and 887 to 1,566 square feet. Two 2-story duplex style residences are also available in two different designs offering 1,242 or 1,688 square feet, each including two bedrooms, one-and-a-half to two-and-a-half baths, oversized balcony and/or terrace. Base prices range from $277,900 to $535,900.

The Emerson fills a demand for new construction condominiums in a desirable downtown suburban setting—one within walking distance of the Mount Prospect Metra train station, the library, favorite shops and restaurants. Newly opened retailers within the building include Vino 100, a fine wine store; Elements Diet and Fitness; Aqua Nail; and Canta Napoli Pizzeria.

Residents can also frequent Caribou Coffee, Oberweis Dairy, TCF Bank, LePeep Restaurant, European Jewelers, Halo Hair Salon and Unique Cleaners—all tenants at The Shops at Village Centre, less than one block away.

The Emerson at Village Centre is located at 100 S. Emerson in Mount Prospect. To reach the community, take Route 53 north to Northwest Highway. Continue northeast on Northwest Highway to Rt. 83 (Elmhurst Road). Go north on Rt. 83, which turns into Emerson Street, to Downtown Mount Prospect. Turn right on South Emerson. Hours are noon to 6 p.m. on Monday, 10 a.m. to 6 p.m. from Tuesday to Friday, 10 a.m. to 5 p.m. on Saturday, and 11 a.m. to 5 p.m. on Sunday. For further details, please call 847-577-0100.

For more information on any Norwood Builders community, visit them online at www.norwoodbuilders.com.

Norwood Builders, an exclusive marketing agent, has an enviable 55-year history bringing thousands of single-family and condominium homes to the marketplace throughout Chicago and its suburbs. Norwood Builders’ commitment to quality living is evident throughout its communities, which features fine craftsmanship and top-of-the-line materials. Norwood Builders currently has new homes available in Mount Prospect and Roselle and is coming soon to Wheaton and Park Ridge.

Park Street Crossing is Located Near Metra in Downtown Roselle.

The Emerson is Located in the Heart of Downtown Mount Prospect

New Condos Move-In Ready at Park Street Crossing in Roselle

Community nearly 50% sold

Following a successful selling season, Norwood Builders still has a good, although more limited, selection of low-maintenance luxury residences available at Park Street Crossing — a community of 62 luxury condominiums located at the corner of Park and Main in Roselle. Several plans are now sold out and the community is nearly 50% sold.

There are 18 one- and two-bedroom plans to choose from. Among the standard inclusions are a breakfast bar or eat-in kitchen, an in-home laundry room, walk-in closets, heated indoor parking and a private balcony. The building also provides radiant heat through the floors, a feature that maintains more even temperatures and increases energy efficiency. In addition, an enclosed, heated garage is located on the main floor of the building for the comfort of residents.

Base prices range from $219,900 to $475,900, while sizes vary from 896 to 2,171 square feet. Monthly association fees ranging from $140 to $311 include the cost of water, refuse removal, and gas for cooking, laundry and heat. Buyers can take advantage of price incentives available for a limited time and purchase a new condo for less than $200,000.

“Park Street Crossing puts the ‘urban’ in ‘suburban’ for residents,” said Adreani. “Our buyers want to be able to walk to the train, neighborhood shops and favorite restaurants as they would in a major city. Yet at the same time, they seek the friendly charm of a village atmosphere. It’s a ‘best of both worlds’ scenario, with every convenience just outside your door. As a Park Street Crossing homeowner, you’re in a private luxury world all your own.”

Park Street Crossing residents won’t even have to venture far to work out, because Anytime Fitness occupies one of the retail spaces at the building’s street level. The first floor includes a separate building with approximately 8,000 square feet of retail space, bringing shopping and local conveniences even closer to home. Also, residents are within walking distance of the Roselle public library and village services, while Woodfield Mall and Stratford Square shopping are just a short car ride away.

“We have immediate move-in possibilities for those who don’t want to wait which offer a great opportunity for buyers who are currently renting and want to get out of a lease quickly. Or, we also have homes that can be modified to the buyers’ tastes, another great reason to buy new construction,” said Adreani.

Whether you’re ending a lease, selling a home, or buying for the first time, “we have deliveries that work within your schedule,” he added. “And like always at Park Street Crossing, we work closely with each buyer on an individual basis to help find a solution that works within their time frame and budget,” Adreani said.

Park Street Crossing is located at 225 E. Main St., at the corner of Park and Main, just one block south of Irving Park Road and one block east of Roselle Road. To visit the community, take 1-290 and exit Lake Street. Take Lake Street west to Roselle Road and turn north (right). Continue to Maple Avenue and turn right, then left on Park Street. The sales center entrance is located at the corner of Main Street and Howard Avenue, one block east of Park Street. Sales office hours are noon to 6 p.m. Monday, 10 a.m. to 6 p.m. Tuesday through Friday, 10 a.m. to 5 p.m. Saturday, and 11 a.m. to 5 p.m. Sunday. For further details, call (630) 894-1000.

For more information on any Norwood Builders community, visit them online at www.norwoodbuilders.com.

Norwood communities emphasize energy savings, environmental consciousness

In the new generation of environmental awareness, consumers are looking to make a positive difference by conserving resources, recycling more than ever and choosing energy efficient products. It’s also a big reason why “green” is now the favorite color among many home shoppers.

Single-family residences aren’t the only homes that can boast green benefits. When they’re carefully planned, efficiently designed and well-built, attached homes like new condominiums, townhomes and rowhomes can save big money on energy costs and help reduce our collective carbon footprint. New home buyers will find that these homes are traditionally smaller square footage in size than single-family homes, which means there is less home to build and consume natural resources, along with less home to maintain, heat and cool.

“According to the U.S. Green Building Council, infill properties like the attached home communities we build are often the ‘greenest’ of all development sites,” said Bruce Adreani, President of Norwood Builders. “This is because they re-use existing land structures such as old parking lots and abandoned buildings and often times restore surrounding landscaping and greenery into the environment.”

Additionally, a mutlifamily building is by its very nature considered green since it compacts a multitude of homes per acre of land, he said. Norwood Builders’ typical building layout is approximately 25 homes per acre, which equates to roughly four times the recommended averaging housing density for a development, added Adreani.

What’s more, developers like Norwood Builders choose to build transit-oriented developments in or near downtown suburban locations which creates more than just a convenience to residents.

“Being within walking distance to Metra and other public transportation, plus on-site and in-town retail establishments, means you don’t have to drive a car to get where you need to go and can walk to do errands and everyday tasks,” said Adreani. “Not only can you walk to familiar places as well as the train and bus stops, but you don’t have to take on the expense of an extra car. Think of all the gas, insurance, and maintenance money—not to mention the car payments and cost to purchase an additional parking space—that you can potentially save.”

When it’s time to drive, Norwood residents appreciate their community’s expedient accessibility to major expressways.

“What’s more, homeowners at every one of our properties appreciate the convenience and luxury of heated, indoor parking in a secured garage, which means no brushing off snow or wasting excess gas to warm up the car,” Adreani noted. ”Plus, since many of these parking areas are located underneath or on the main level of the overall building, there is more available land for green space, parks and other natural resources.”

Yet, it’s inside a Norwood Builders home itself where you truly reap the rewards of selecting an energy-conscious developer. Norwood Builders follows an exacting standard of construction, employing concrete masonry walls and 10-inch-thick precast concrete planking in the ceilings and floors of all its buildings. The density of these materials helps to thermally insulate more efficiently, saving owners money on heating and cooling bills. This density also creates a mass dampening effect that naturally decreases sound transmissions and secondary vibrations and provides the best possible fire barrier for a multifamily building.

Also, “our buildings provide hydronic radiant heat systems, which automatically and efficiently heat each unit via hot water that travels through copper tubing,” said Adreani. “Each residence additionally benefits from high-efficiency centrally located boilers in the building, as well as a ‘second-zone’ thermostat that allows for customized temperature control. The result is a much more effective and economical method of climate control than if each unit was installed with a traditional forced-air furnace and air conditioning unit.” Considering that natural gas and other utilities are bundled together into a shared building cost reflected in your monthly assessments, every homeowner saves significantly on energy bills, Adreani pointed out.

“Every one of our communities is thoughtfully designed and meticulously crafted, and we take pride in being able to build a quality home that can benefit the community, too,” said Adreani.

Read more about how Norwood is creating a better community.