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Eric Marcus Chicago HomesEric Marcus Chicago Homes
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    Eric Marcus Chicago Homes

    1525 W. Belmont Avenue, Chicago, IL 60657

    • 773-732-9898
    • [email protected]

    Frequently Asked Questions

    What makes Eric Marcus Chicago Homes different from other real estate teams?

    Managing broker Eric Marcus pairs his background as a CPA and former Chicago floor trader (CBOT/CBOE) with 18 straight years as a Top Producer and over $250M in successful sales. We don't guess on numbers, we use strict market data, aggressive marketing, and responsive communication to protect your bottom line.

    What areas do you serve?

    We serve clients across the entire city of Chicago and the surrounding suburbs across Cook, DuPage, and Lake Counties. Our deep transaction history spans from North Side neighborhoods like Lakeview and Lincoln Park down to the South Loop, as well as the North, Northwest, West, and South suburbs.

    Who do you work with?

    We are a full-service team that actively advocates for buyers, sellers, landlords, and renters. Whether you are purchasing your first condo, listing a suburban home, or leasing an investment property, we guide you through every step of the process.

    How do you determine the listing price for my home?

    Drawing on our CPA and trading backgrounds, we conduct a deep-dive comparative market analysis using real-time MLS data, neighborhood inventory, and historical seasonal trends. This ensures we find the exact sweet spot that maximizes your financial return.

    How do you market homes to get top dollar?

    We deploy a targeted, multi-channel digital marketing strategy for every listing, including premium placement on all national search portals, high-end professional photography, and targeted social media ad campaigns. Every detail is customized to capture maximum attention from your specific neighborhood or suburban buying demographic.

    Can you help me buy and sell a home at the same time?

    Yes, coordinating concurrent buying and selling timeline logistics is one of our core team specialties. We routinely manage the complex mechanics of home-sale contingencies and post-closing possession agreements so you can transition seamlessly between properties.

    Do I need a village code inspection before selling a suburban home?

    Yes, many surrounding suburbs require a mandatory municipal code inspection before a property can be legally sold to a new owner. Sellers must either resolve any cited local building violations before closing or negotiate a formal escrow agreement for the buyer to address them

    What happens during the 5-day attorney review period?

    Once a contract is signed, a strict 5-business-day window begins for your real estate attorney to review the legal language and your independent home inspector to check the property. Your attorney can then negotiate required repairs and price credits, or safely cancel the contract if an agreement cannot be reached.

    I’m a first-time home buyer. What is the first step?

    We begin with a casual strategy consultation to map out your timeline, budget, and neighborhood goals. From there, we connect you with trusted local lenders for a formal mortgage pre-approval so you can make a serious, competitive offer.

    What are the typical upfront costs of buying a home in Chicagoland?

    Beyond your down payment, expect closing costs to average 2% to 4% of the purchase price to cover lender, title, inspection, and attorney fees. You will also need to account for municipal transfer taxes, which vary significantly depending on whether you buy inside Chicago city limits or in a suburb.

    What is Chicago’s new HomeGrown Purchase Assistance Program?

    Launched by the city, this program provides eligible low- to moderate-income buyers with direct grants of up to $70,000 to cover down payments and closing costs. To qualify, you must purchase a home in a designated city zone, meet specific income limits, and contribute at least 1% of your own personal funds

    Why do property listings show both a purchase price and monthly HOA assessments?

    When buying a condo or townhome, your monthly housing cost includes both your mortgage payment and a mandatory Homeowners Association (HOA) fee. This fee covers shared building expenses like insurance, snow removal, and structural maintenance, which lenders factor directly into your overall loan qualification.

    What is the difference between a home appraisal and a home inspection?

    An independent home inspection is a top-to-bottom structural check you hire to uncover hidden physical defects before finalizing your purchase contract. An appraisal is a separate valuation ordered by your lender to officially verify that the property's market worth matches your approved loan amount.

    Does the Chicago Residential Landlord and Tenant Ordinance (CRLTO) apply to all rentals?

    No, the strict regulations of the CRLTO explicitly exempt owner-occupied buildings that contain six units or fewer. If you live in one unit of a vintage Chicago 2-flat or 3-flat and lease out the remaining spaces, your property is largely exempt from the ordinance.

    What is the mandatory Illinois lease disclosure rule?

    All residential leases and renewals across Illinois must feature the state-issued "Summary of Rights for Safer Homes" as the absolute first page of the lease agreement. Both the landlord and tenant are legally required to sign or initial every single page of this mandatory domestic safety document.

    Do you help renters find apartments in the fast-moving Chicago market?

    Yes, we pinpoint verified rental properties that match your budget, desired amenities, and daily transit needs like proximity to the Metra or specific CTA lines. We then accompany you to viewings, act as your advocate with leasing agents, and help you submit a highly competitive application package.

    What must a Chicago landlord disclose to a prospective tenant if the tenant is responsible for paying the heating bill?

    In Chicago, landlords must provide a Heating Cost Disclosure when tenants are responsible for paying their own heating bills. The disclosure must include the unit's heating costs from the previous 12 months and be provided before a lease is signed or any money is accepted. Tenants must also acknowledge receipt of the disclosure in writing.

    Eric Marcus Chicago Homes

    Your Real Friend in Chicago Real Estate

    Keller Williams ONEChicago

    1525 W. Belmont Avenue, Chicago, IL 60657

    Keller Williams ONEChicago

    1525 W. Belmont Avenue, Chicago, IL 60657

    773-732-9898
    [email protected]

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