Spring Real Estate Market Updates from Chicago’s Top Realtors

As the frost thaws and the days grow longer, the Chicago real estate market springs to life with renewed vigor. With its vibrant neighborhoods, iconic architecture, and diverse communities, the Windy City offers a dynamic landscape for buyers, sellers, and investors alike. As we transition into the blooming season, it’s essential to understand the trends, opportunities, and challenges that define the Chicago spring real estate market.

Here we ask two of Chicago’s best realtors to tell you what to expect and what exciting prospects await you in the Chicago spring real estate market.

Meet Joanne Sells Chicago

With over 25 years of selling luxury real estate, Joanne Nemerovski of Joanne Sells Chicago has helped thousands of families buy and/or sell their homes, representing well over $1.5 billion in luxury real estate. She has consistently been one of Chicago’s top-producing realtors, specializing in the city’s most desirable neighborhoods. Joanne has received the title of “Mega Broker of the Midwest” by Unique Home magazine, is consistently named one of the “Top 100 Agents in America,” and has been named one of Chicago’s elite top producers by Chicago Association of Realtors year after year. After 10 years in Advertising, Joanne’s daughter Rachel has inevitably followed in her mother’s footsteps and joined the family business. She has extensive client management and creative advertising experience helping top global brands like MillerCoors, Kellogg’s, Hilton and Bank of America to name a few. In 2023, Joanne and Rachel were among the top 12 brokers by volume in the city of Chicago. Together Joanne and Rachel raise the bar in employing new strategies and technologies to enhance the selling and buying experience of their clients.

Chicago Spring Market Overview from Joanne and Rachel Nemerovski

2023 started out slow for luxury and in a rare twist, the year-end was the strongest. So, we expect a bustling Spring market. Inventory is low and listings priced appropriately under a million are selling quickly with multiple offers. Luxury is taking a bit longer, but well-located, turn-key homes are definitely selling. Working with a knowledgeable and relationship-oriented realtor is essential to secure special properties as the opportunity is there! With projections for interest rates to fluctuate downward in the next few months and rents only going up, this is great time to invest in a home.

As a small team of two, Joanne and Rachel offer a shared passion and commitment to every client. Last year, they finished 12th in the city for volume out of 7,000 realtors. With over 1.5 billion in career sales, they have carefully crafted their expertise to deliver exceptional white-glove service that continuously sets them apart. Joanne and Rachel have exclusive access to Chicago properties, and help clients across the country with their nationwide network of successful, dedicated luxury residential professionals as the only Chicago partner of Compass’ Private Client Network, helping to deliver a seamless experience across the country for their client’s entire real estate portfolio.

Joanne and Rachel are completely committed to their RNDD partners. If you need help in Chicago real estate either personally or for a client, please don’t hesitate to call.

View a Few of Joanne Sells Chicago’s Current and Upcoming Listings

Coming Soon – 432 West Grant Place, Unit 2E: $4,395,000

Unique urban oasis, rare opportunity in an exclusive 7-unit elevator building in the heart of East Lincoln Park. Exceptional contemporary design with 4 bedrooms, 4 and a half baths, large open floor plan facing south, flooded with light and spectacular outdoor living space. See more here.

Coming Soon – 2143 North Magnolia Avenue: $2,995,000

On one of Lincoln Park’s premier streets, this extremely spacious 5-bedroom single-family home has 4 bedrooms and 3 baths on the second floor. Large lower lever with full family room, playroom, 5th bedroom and bath. Loaded with outdoor space, includes a back deck over the garage and a very spacious roof deck.

2225 North Lakewood Avenue: $3,995,000

A truly one-of-a-kind, entertaining masterpiece spread across three Lincoln Park lots with no detail or expense spared. 50-foot living room, and huge private yard. Hate vertical living? Make this your home. See more here.

Just Listed – 1932 North Sedgwick Street: $2,695,000

A completely renovated single-family home in the heart of East Lincoln Park where elegance prevails. O’Brien Harris kitchen opens to stunning family room, entire home including the full lower level is just re-done with an exquisite taste. See more here.

209 East Lake Shore Drive, #8W: $2,495,000

A magnificent 5-bedroom, 5.1 bath over 5,500 square feet in a highly sought-after setting in the heart of it all overlooking Lake Michigan and stunning Oak Street Beach. See more here.

Just Listed – 33 West Huron Street, Unit 605: $699,995

A flowing, spacious 2-bedroom home in a perfect River North boutique elevator building. Was a 3 bedroom, opened up for an incredibly spacious living experience. See more here.

For more details on any of the listings above, please reach out to Joanne and Rachel Nemerovski. JoanneSellsChicago@gmail.com or 312-720-4505.

Meet Millie Rosenbloom

With over $1.2 billion in lifetime sales under her belt, Millie Rosenbloom has built a first-class reputation amongst Chicago’s real estate community. From her induction into the Chicago Association of REALTORS© Hall of Fame, to the election as the organization’s third-ever woman President, Millie continues to uphold her mission to be the best in the business. Millie a three-time recipient of the peer-appointed “REALTOR© of the Year” award. “It’s a privilege to be chosen by fellow brokers.”

Chicago Spring Market Overview from Millie Rosenbloom

The spring real estate market is bustling with activity. Compared to this time last year, there’s a noticeable surge in momentum. Interest rates have dropped a bit, adding fuel to the already heated market. The mild winter has encouraged more people to venture out, resulting in properties selling at a brisk pace. However, the persistent lack of inventory continues to drive competition among buyers.

View a Few of Millie Rosenbloom’s Current Listings

4 E Elm St Unit 22S: $3,500,000

Find the epitome of luxury within this elegant, south-facing high-floor home inside 4 E. Elm, one of the city’s premier boutique buildings boasting breathtaking lake and city views. Enjoy the peace of mind and convenience of private elevator entry into this three bedroom, three and a half bathroom residence’s vast and open layout featuring high-end details that meet the eye and beyond. See more here.

919 N Lasalle Dr: $1,699,000

This is one very special home. Nestled in the heart of Chicago’s historic Gold Coast, this five bedroom, four and a half bathroom home will captivate every sense with its wealth of charming original details. But, to ensure the best of all worlds, you will also find modern upgrades and updates including a new roof, furnace, air conditioner and water heater. See more here.

14 W Superior St #6501: $3,995,000

Welcome to 14 W Superior Unit 6501, a luxurious 2 bedroom, 2.1 bathroom condo in the prestigious One Chicago. Situated in the sky, this residence offers an array of impressive features and breathtaking views that will captivate even the most discerning buyer. See more here.