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Old 12-22-2008, 12:02 AM
 
6 posts, read 21,792 times
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We are thinking of relocating from a New York City suburb to Chicago. My son, daughter-in-law and 2 grand children recently made that same move. We have looked at just about all the 55 & over developments by many builders, we shopped many of the condos in Palatine, Hoffman Estates, Park Ridge, Bloomingdale etc. we looked at single family homes in Park Ridge.

But we love the Toll Brothers Town Homes in Bloomingdale, Bloomingdale Walk. The units are beautiful with many extras with a very nice price. They are fairly close to my son and his family.

Problem is that the homes are directly next to the Stratford Mall and are on the corner of Schick Rd. & Springfield Dr. Concerns about traffic, crime etc.

Also a difficult decision because we will leave family back in NY and we really do not know what to do about that.

We are ready to put down a 5% deposit one of the best locations and would have about 9 months to sell our house in NY. We can wait and after we sell then pick out another unit/model that we like. Trouble is that I have fallen in love with this unit and the location that it is in.

People I talk to say we should wait until our house is sold because the price on the Toll Bros. unit may go down. Or we could lose our deposit if we do not sell our house.

What do you think?
[SIZE=3] [/SIZE]
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Old 12-22-2008, 09:17 AM
 
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Unclear if your son and his family live in Park Ridge or some other town. I would hesitate to move to Bloomingdale if son is in Park Ridge -- distance would be an issue. Ditto for the other towns you listed.

I am not huge fan of 55 & over developments in the Chicago region. Recod of resale is not proven, costs are somewhat high. Chicago's weather is pretty miserable this time of year, and frankly the accommodations that most towns make for over 55 are pathetic. In warm weather regions you have a lot more incentives, especially area with tax advantages. Even some other midwestern area (most of Minnesota and towns like Madison in Wisconsin) do more to make themselves attractive to over 55 set...

Personally if I was to consider relocation to be near son/ grandchild I would probably give most serious consideration to a circle that was about 20 minutes drive away. I would focus on single family detached ranches or homes with first floor master suites, regular townhomes and condos. I would compare the amenities available through village/park district/YMCA with total cost for over 55 complex.

I tend to be leary of new construction -- when things are as overbuilt as they are it could really make resale a chore. Existing developments are more predictable from a value standpoint.

In this market I would do everything I could to NOT be stuck with an unsold house when considering a new purchase. I would much prefer to RENT for a period of time so that my exposure to price declines did not leave me unable to sell...

Good Luck!
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Old 12-22-2008, 09:20 AM
 
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I think you are taking a risk here. It all boils down to money. If you can afford to have two houses and pay for them, then go ahead and do it. If not, I would not. If you want to get here fast, you can rent. Why not rent a place in Bloomingdale and see if you like it? After being here a year you might have different ideas about where you would want to live. I live in Wheaton which is somewhat near Bloomingdale. Personally, nothing wrong with Bloomingdale but if I were to move, its not a town which would be on my top five list for Dupage County. I would pick Wheaton, Glen Ellyn, Hinsdale, and Napervillel, St. Charles and Geneva, before Bloomingdale. Of course you fell in love with a certain unit which you won't find elsewhere.

P.S. I'd be leery of 55 and over places here too. It restricts who you can sell to. I'd rather live in a nice townhouse or condo development that allows all ages. Go for the first floor mastersuite.
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Old 12-22-2008, 10:36 AM
 
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First thanks for the help. We have 95% ruled our 55 & over communities, just that was the first places we looked at.

We have been looking a master bedroom on the first floor and that would include some town homes, condos, and single family homes. The condos are nice, have elevators, everything on one floor, less expensive than town homes & single family homes, but they tend to be small, a few builders do make town homes with the master on the first floor. Bloomingdale Walk has 2 models that have masters on first floor. They are done very nicely.

Just not sure if I want to take chance with giving them a down payment and hoping to sell my house in NY. Or since they are still building I can wait until I sell and buy another unit with the same layout.

Also location is still a problem if you know Bloomingdale it is right next, in fact you could say in the Stratford Mall Parking lot.

I here what you are saying to wait and sell my NY house and then rent in Chicago Land and decide where to buy. But that has its disadvantages also because you have to move twice in that plan.

Keep the comments coming I need all the help I can get here I was up until 3 AM last night think about this. Today I am going to do all the numbers again and see what I come out with.
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Old 12-22-2008, 10:25 PM
 
4,152 posts, read 7,873,543 times
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Just keep in mind that these places are not probably selling like hotcakes. Maybe the actual unit will get sold but there is probably another similar one. Keep in mind that sometimes its better to rent for a year as you see what the area is like. Maybe you won't like living near a shopping center. I do know Bloomingdale has some nice new units being built. But it does not have a town or village type setting which is important to me rather than a shopping center type sprawl area. Not that that is bad I could see some advantages to it. I'd rather live in something with a town center. Bloomingdale has a small one but it comes off more like a stage set than a real little city.
Moving twice will not be fun but it would be better not to take the risk I think. There are many beautiful suburban areas in Chicago.

Please note that Bloomingdale is not that close to Park Ridge. Its not terribly far but not close either. Also Park Ridge is on a flight path of O'Hare Airport planes. Just keep that in mind for the noise. Its a lovely town don't get me wrong. Have you looked in Arlington Heights? The downtown area is very nice and vibrant and they have many condos there. Lots of stores and restaurants.

Last edited by ToriaT; 12-22-2008 at 10:29 PM.. Reason: add info
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Old 12-23-2008, 10:35 AM
 
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Thanks TiruaT for you advise. We have looked at Arlington Heights and it is very nice but a little out of our budget. Right now we are going to postone the purchase of the Bloomingdale Town Home, like you said the same model will come up later, I just loved the model and location of it.

My realestate agent in NY told me that I should definately have the check in my hand at closing of my NY house before I buy something else. All kind of horror stories out there.

We are making plans to visit my grandchildren in Jan. for 2 weeks and will also do a lot of looking for a rental, Arlington Heights, Palatine etc. I think you are right that it is nice to live where there is a small town center. That is the kind of town we live in know. When everyone think of NY they think big. Our town is only 8,000 people with a small village shopping area, no mall, 2 grocery stores, but some stores are going out of business, when the last one closed people were in there crying and huging the owner.

So the plan is to look for a rental and maybe we can hold on to our house here in NY and stay in Chicago 6-8 months a year and NY the rest. I would hate to leave my daughter and mother completely alone in NY

IF
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Old 12-23-2008, 10:43 AM
 
6 posts, read 21,792 times
Reputation: 11
Thanks TiruaT for you advise. We have looked at Arlington Heights and it is very nice but a little out of our budget. Right now we are going to postpone the purchase of the Bloomingdale Town Home, like you said the same model will come up later, I just loved the model and location of it.

My real estate agent in NY told me that I should definitely have the check in my hand at closing of my NY house before I buy something else. All kind of horror stories out there.

We are making plans to visit my grandchildren in Jan. for 2 weeks and will also do a lot of looking for a rental, Arlington Heights, Palatine etc. I think you are right that it is nice to live where there is a small town center. That is the kind of town we live in know. When everyone thinks of NY they think big. Our town is only 8,000 people with a small village shopping area, no mall, 2 grocery stores, but some stores are going out of business, when the last one closed people were in there crying and hugging the owner.

So the plan is to look for a rental and maybe we can hold on to our house here in NY and stay in Chicago 6-8 months a year and NY the rest. I would hate to leave my daughter and mother completely alone in NY

IF ANYONE HEARS ABOUT A NICE RENTAL LET ME KNOW.


oh buy the way about Park Ridge and the plane noise, since they open the new runway a O'hare the noise has changed. Also you get use to it. My daughter-in-law grew up near O'Hare and she is used to the noise. I grew up right next to the El (loop) in NY and after awhile you do not hear it.

Again thanks for all you help. This whole process is very difficult, with my son and grandchildren in Chicago and my daughter & mother & our house and friends of 30 years in NY.
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Old 12-23-2008, 01:47 PM
 
4,152 posts, read 7,873,543 times
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I suggest looking on Craigslist. Here is an example of what you might find in Park Ridge.

Chicago Apartments | Rent Smart Chicago | Find Locate

Other areas near Park Ridge are the NW side of Chicago like Portage Park, Edgebrook and Sauganash. Also Des Plaines, Lincolnwood and Skokie are not too far away.

Please note there are cheaper places of course. Park Ridge is on the pricey side though and rents will probably be a bit high.
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Old 12-25-2008, 12:13 PM
 
32 posts, read 93,479 times
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Hi,

Do Not...Let me repeat...Do Not sign anything with Toll Brothers, Bloomingdale Walk...W/o at least asking them these questions.

1. Will you return my earnest money if for some reason mishaps occur, such as my loan requestr was disapproved, or my house did not sell, therefore, I will want toll Bros to refund my deposit.

Do not...sign a promissory note...under any circumstances...unless you are sure that your home sells...and you get a loan approval, a commitment letter from Toll Brothers.

Better yet...Please have Toll Bros put everything in writing...even after an attorney reads it.

They sometimes can be lax too. any questions you can call me at 2246538574! Have I got the skinny...It's all about the money. Don't trust them!!! There's lots of complaints about quality of construction too.
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Old 12-25-2008, 12:23 PM
 
32 posts, read 93,479 times
Reputation: 11
Default Toll Bros's are crooks!!!

Toll Brothers has taken my earnest money and will not return my earnest money. They falsely accused me of receiving a commitment letter. and a loan commitment. All lies I was denied a mortgage by their m ortgage company as well as another mortgage co. two denials. They knew this.

How can you receive a commitment letter or loan approval letter once you've been denied twice for a mortgage, by their company, who said that we do not qualify for the home anyway!!!
How can they lie than and say that we received a commitment letter, let alone a mortgage commitment/approval.

Well, I am going all the way on this one. The attorney says that the contract is null and void. Toll Bros refused to come up with it any commitment leter...
Luckily, I don't have a copy...Just be smart and don't take the salesman's word. They play dumb, but it's all about the money.

There are other complaints against them so buyer be ware. You call reach me at 224 653 8574 or email me at tyboo5856@yahoo.com.

If enough people go in together, we can get some justice!!!

Last edited by tyboo123; 12-25-2008 at 12:35 PM.. Reason: Left out something
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