Living in Lincoln Park Blog

1) Chicago Wine School and House Red present “Little Known Reds – Great Cold Weather Drinking” (12/12/2006) These grapes–Nebbiolo, Grenache, Barbera, Tannat, Moristel, Sangiovese, Nero d’Avola and Petite Sirah– are world reknowned, yet they rarely get the attention that the Big Four do. But they have the power and structure and flavor that helps them go wonderfully with the meals we enjoy during the fall and winter. We’ll try them all and learn a little along the way. $60 This seminar will take place at House Red (7403 W Madison in Forest Park–5 minutes from the Harlem exit off Eisenhower). It starts at 6:30 PM and lasts approximately 90 minutes. The fee for this seminar covers the wines, the handouts and the use of proper glassware. Registration by pre-payment is required (check, cash or online payment) Make your checks payable to Chicago Wine School and send them to the address below; or pay on-line at the site. ************

2) Bella Bacinos Italian Bistro Save Time for a Trip to Piedmont Holiday Barolo Wine Dinner – Downtown LaGrange Tuesday December 12th as we welcome Nicola Abbona of Marchesi Di Barolo One of the great names in Piedmontese winemaking, Cantine dei Marchesi di Barolo dates back as far as the 12th century, when the land-owning Falletti family of Piedmont’s Barolo district was granted titles of nobility. Today the estate owns about 100 acres of vineyard in Langhe, including some of the finest vineyards in the district. The Marchesi di Barolo cellars have been owned since 1929 by the Abbona family, who make their home in the large, yellow-fronted villa overlooking the terracotta rooftops of the picturesque village of Barolo. Like their Falletti predecessors, the Abbonas are committed to conserving the estates time honored reputation. Date: Tuesday, December 12th Time: Reception 6:30 pm. Dinner 7:00 pm. Place: 36 S. LaGrange Road, Downtown LaGrange RSVP to: bacinos@comcast.net or with Dan @ 708-420-9600. As is our tradition, Marchesi Di Barolo wines will be available at special pricing as will as Riedel stemware. Menu and pricing for our five course paired wine dinner to follow. ************

3) Randolph Wine Cellars “Annual Cab Shoot Out” Tuesday, December 12 6-8pm Over 30 wines for $30 Typically, in our annual Blind Tasting of Cabernet Sauvignon wines, we serve up a heavy dose of magnificent California examples, season them with competitors from Bordeaux and Washington State, and throw in a few outsiders for good measure. This year, all bets are off! We’re opening our doors equally to all parts of the globe for Cabernet contenders, making for a much needed blend of wine styles and origins in our search for the perfect Cabernet. This tasting will be first and foremost about Cabernet Sauvignon the grape. All wines will be veiled during the tasting, their identities concealed until the tasting is complete. On the night of the event, there will be discounted retail pricing on featured wines. Contact Information email: info@tlcwine.com phone: 312-942-1212 web: http://www.tlcwine.com ************

4) If you’re worried that your bubbly collection isn’t quite up to holiday-party-season par, don’t miss “Bubble Bath VII ” Sample more than 100 champagnes and sparkling wines while enjoying holiday-inspired dishes presented by BIN 36 executive chef John Caputo. And be sure to check out the silent and live auctions and the raffle, which features concert tickets, gift baskets, and of course, champagne, wine and much more. All proceeds benefit the American Cancer Society. Wednesday, December 13, 6 to 10pm Bin 36 (339 N Dearborn St) For more information and to purchase tickets, visit www.bin36.com. ************

5) Private Champagne Tasting at UnCorkIt! Wednesday, December 13th, 2006 7:00 PM to 10:00 PM $30.00 per person You are invited to join us for a special Champagne & Sparkling Wine Tasting! Sample bubbly from around the world while enjoying gourmet cheese, crackers and appetizers. We will be closing the store early for this exciting event. Come and taste the different flavors and characteristics of Champagnes and Sparkling Wines from all different regions and countries of the world. Learn from the experts who will be pouring their products. This is a private tasting so sign up early. Names will be checked at the door. Sorry no walk-ins. To purchase your tickets call 312-321-9400 or stop in at our Customer Service Desk. ************

Courtesy of Patrick Fegen and the Chicago Wine School, wineschool.com

The sky is falling, the sky is falling!! as many of us remember Chicken Little yelling. This seems to be the same thing the media is saying in their own way today. If I were in the financial services arena, I’d be yelling back – sell sky, sell sky! But I’m in the business of helping people buy & sell real estate and I have to tell you that, in the Chicago market, it is an exellent time to buy or sell.

The key here is for sellers to be reasonable in their asking prioces and their expectations. If they base the asking price on what has sold in their neighborhood, there is a good chance that they might get multiple offers…I know, I had 3 buyers experience that. If they get ambitous and want to push the price, there is a good chance that the buyers will realize this and not see correlation between the price, condition, and value and not be inclined to make an offer. The home will languish on the market and that seller might end up chasing a downward market, since homes that come on the market after them will be priced lower. Not a great position for a seller to be in!

It’s also an excellant time to be buying. The market is pretty well balanced. Home prices are stable to declining and interest rates are stable with nomninal variations over the past weeks. There also seems to be a fairly sizeable number of vacant homes for sale because the sellers have already moved on to their new homes. Many of the buyers I am working with are hearing from their friends that they should wait until…December, Feburary, or some other later date…and they will be the only buyer out there. I tell them it’s better “the market that we know.” We don’t know where interest rates will be in the spring. But if they rise by any significant amount, there will be a downward push on the housing prices. While on the surface this sounds great, keep in mind that you’ll be spending around the same amount of money you would today, only more of it will be going to the lender and instead of the seller.

All that being said, if sellers price their homes fairly, and both buyers and sellers have reasonable expectations, the local market will continue to do just fine.

Find out more soon…

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This should be interesting to a lot of people.

Bill Pavala, Assistant Commissioner of the Department of Housing and Senior Housing Coordinator, will present “Buying and Selling a Home in the City of Chicago: City Programs That Benefit You”