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Elmhurst College Awards First-Generation Scholarships

by Thomas Makinney

Elmhurst College recently announced the recipients of its inaugural Elmhurst College American Dream Fellowship Competition, a scholarship contest that supports and celebrates first-generation college students.

The competition was launched last year as part of the college’s commitment to helping its students achieve the American dream. It was open to all first-generation college students who had been admitted to Elmhurst College for the fall of 2018. Applicants were asked to submit a video on the topic, “As a first-generation student, what would graduating from college mean to you and your family?” 

Scholarship applications came in not only from the Chicago area but also from across the country. On Feb. 19, winners were announced at a ceremony in Hammerschmidt Memorial Chapel on campus with more than 500 people, including many family members, in attendance.

Lillian Rizo-Dubois, a Prairie Ridge High School senior from Crystal Lake, received first place. She plans to major in French with the goal of teaching high school. She received a four-year, full-tuition scholarship to the college. Several other winners received awards ranging from four years’ room and board to a stipend covering the cost of books and materials.

In addition to the video, contestants and their families came to campus for in-person interviews and to hear from current first-generation college students, campus leaders, and alumni, before attending the ceremony later that afternoon.

Here at Gracik-Makinney, we congratulate not only the winners of the scholarships but also the college on its unwavering commitment to providing a quality, inclusive education for everyone.

For more information about life in Elmhurst, call us at (630) 441-5570 or visit our website, www.gmregroup.com.


Liz Eder joins The Gracik Makinney Group

by Thomas Makinney


We’re thrilled to announce a new member of our Gracik Makinney family! Liz Eder has recently joined us as a real estate advisor in the Elmhurst and Oak Park offices.

With more than ten years of experience, Liz has represented buyers, sellers, tenants, and landlords. She specializes in residential sales but has also spent 15 years in property management, giving her a solid foundation in the real estate industry.

Liz has called Elmhurst home for over 30 years, and she is a lifelong resident of the Chicago area, having lived in a variety of areas, including the South Shore, Hyde Park, and Oak Park. She’s a graduate of Oak Park River Forest High School and Loyola University, where she studied history, literature, art, and design.

For Liz, the best part of working in real estate is the opportunity to build strong relationships with clients and show them how to maximize the value of their property, whether they are buying, selling, renting, or investing.

Her motto is, “Real estate is as much art as it is science,” and Liz knows that a successful realtor must have both skills.

Liz has two daughters and is an active member of the Elmhurst community. We are thrilled to welcome her to our team!

To connect with Liz or anyone at Gracik Makinney, call us at (630) 441-5570 or visit our website, www.gmregroup.com.

Elmhurst Open House List for February 24-25

by Thomas Makinney

203 S Kenilworth Ave., Elmhurst

Sunday 1:00-3:00 PM

210 N Addison Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$325,000

414 E Schiller St

Elmhurst

02/25/2018

1:00-3:00 PM

$389,900

323 E Harrison St

Elmhurst

02/25/2018

1:00-4:00 PM

$429,900

963 Chatham Ave

Elmhurst

02/25/2018

1:00-4:00 PM

$449,900

668 S Prospect Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$525,000

658 S Bryan St

Elmhurst

02/25/2018

12:00-3:00 PM

$539,000

310 S Chandler Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$539,900

384 S West Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$545,000

330 N River Glen Ave

Elmhurst

02/24/2018

1:00-4:00 PM

$585,000

386 S Argyle Ave

Elmhurst

02/24/2018

1:00-3:00 PM

$599,000

386 S Argyle Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$599,000

147 S Poplar Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$689,900

972 S Spring Rd

Elmhurst

02/25/2018

1:00-3:00 PM

$749,000

822 S Hillside Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$749,900

180 S Lawndale Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$769,000

255 E Forest Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$779,900

105 E May St

Elmhurst

02/25/2018

1:00-3:00 PM

$865,000

155 N Elm Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$869,900

991 S Mitchell Ave

Elmhurst

02/25/2018

1:00-4:00 PM

$875,000

408 E Huntington Ln

Elmhurst

02/25/2018

1:00-3:00 PM

$945,000

141 N Caroline St

Elmhurst

02/25/2018

12:00-3:00 PM

$949,900

141 N Caroline St

Elmhurst

02/24/2018

12:00-3:00 PM

$949,900

203 S Kenilworth Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$1,050,000

258 N Walnut St

Elmhurst

02/25/2018

1:00-3:00 PM

$1,110,000

261 E Elmhurst Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$1,189,900

969 S Mitchell Ave

Elmhurst

02/25/2018

1:00-4:00 PM

$1,199,000

588 S Swain Ave

Elmhurst

02/25/2018

1:00-3:00 PM

$1,200,000

Elmhurst Open House List for Feb. 17 & 18

by Thomas Makinney


823 S. Washington, Elmhurst

Sunday, 1:00-3:00 PM

285 N Larch Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$310,000

956 S Spring Rd

Elmhurst

02/18/2018

1:00-4:00 PM

$324,500

207 N West Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$369,900

963 Chatham Ave

Elmhurst

02/18/2018

1:00-4:00 PM

$449,900

818 S Hillside Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$479,000

310 S Chandler Ave

Elmhurst

02/17/2018

12:00-2:00 PM

$539,900

342 E Laurel Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$584,900

823 S Washington St

Elmhurst

02/18/2018

1:00-3:00 PM

$650,000

15W474 Lexington St

Elmhurst

02/18/2018

10:00AM-2:00 PM

$659,900

147 S Poplar Ave

Elmhurst

02/18/2018

11:00AM-1:00 PM

$689,900

924 S Chatham Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$819,000

249 N Maple Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$889,900

749 S Fairview Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$894,800

141 N Caroline St

Elmhurst

02/17/2018

12:00-3:00 PM

$949,900

141 N Caroline St

Elmhurst

02/18/2018

12:00-3:00 PM

$949,900

140 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,129,000

148 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,139,000

148 Joanne Way

Elmhurst

02/18/2018

11:00AM-4:00 PM

$1,139,000

245 N Berteau Ave

Elmhurst

02/18/2018

11:00AM-2:00 PM

$1,150,000

445 E Crescent Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$1,200,000

136 Joanne Way

Elmhurst

02/18/2018

11:00AM-4:00 PM

$1,269,000

136 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,269,000

236 E South St

Elmhurst

02/18/2018

1:00-3:00 PM

$1,289,000

128 Joanne Way

Elmhurst

02/18/2018

11:00AM-4:00 PM

$1,529,000

128 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,529,000

662 S Sunnyside Ave

Elmhurst

02/18/2018

1:30-3:30 PM

$1,549,000

Timothy Christian high schoolers “Renew” their interests

by Thomas Makinney

Each year after Christmas break and before the start of the second semester, Timothy Christian high school students have the opportunity to explore the world around them outside (and inside) the classroom.

Renew is an eight-day program that allows students to participate in unique, interest-based classes not held during the academic year, go on a discipleship or mission trip, or arrange unpaid internships in their areas of interests.

This year’s offerings provided a wide range of opportunities. Students who had followed recent natural disasters were able to study how communities prepare for disaster relief and then do outreach work exploring real-life situations. They served at food depositories, and partnered with blood drives, clothing drives, and charity fundraisers to learn the hands-on aspects of serving.

Some students served at various ministry organizations in Chicago to learn about the needs of the homeless or the issues facing immigrants. They served in a food pantry and at lunch with clients at a homeless shelter. Some students went to New York for a similar experience that involved tutoring young children.

Juniors and seniors have the opportunity to arrange for an unpaid internship in an area of interest, such as in a hospital or business setting.

But the program also held relevant programs that focused on individual enrichment. Students could learn golf or rock climbing; they could explore a facet of WWII or learn about religions outside of Christianity. They could get exposure to careers in education, journalism, and fashion or study creative writing, drawing, or film.

The program has been in existence since 2015 and strives to expose TC students to people or ideas that they wouldn’t necessarily learn about or be exposed to otherwise. 

Both Timothy Christian staff members and external members of the community teach the classes. Any businesses or professionals who are interested in hosting students or offering shadowing opportunities next year should email Tyra Bone, Renew coordinator, at bone@timothychristian.com.  

We’re proud of the many educational opportunities that schools in Elmhurst offer, and Timothy Christian is no exception. By thinking outside the box, students gain an invaluable exposure to life outside of Elmhurst and inside themselves.

To learn more about Elmhurst schools and life in our city, call us at (630) 441-5570 or visit www.gmregroup.com

Elmhurst Open House List for Feb. 11

by Thomas Makinney

We will be hosting two open houses this weekend. Stop by and check them out!


165 S Sunnyside Ave., Elmhurst

1:00-3:00pm, Sunday, February 11

$900,000

4 Bedroom, 4 Bath

 

749 S Fairview Ave., Elmhurst

1:00-3:00pm Sunday, February 11

$894,800

5 Bedroom, 4.5 Bath

What does the new tax reform mean for homeowners?

by Thomas Makinney

It might be hard to remember with all that’s been going on in the past month, but as of Jan. 1, a new tax policy goes into effect. Many of us will not see many changes until we file their taxes in 2019, but the tax laws could not only impact our paycheck (for better or worse) they also have the potential to significantly alter home ownership incentives.

We can’t speak for individual paychecks, but as far as how the tax policies relate to real estate, we can offer a few insights.

  1. Reduced cap on mortgage interest deduction.

What it is: The Tax Cuts and Jobs Act reduced the limit for mortgage interest rate deduction for new loans to $750,000, starting Dec. 15, 2017. Loans that were taken before this date are grandfathered into the previous tax policy, which featured a $1 million cap on the deduction.

What it means: Homeowners who want to refinance their existing mortgage can do so up to $1 million and still be able to deduct the interest, however, the new loan cannot exceed the amount of debt being refinanced. Nationwide, this should only affect 1.3% of all mortgages, however, high-priced housing areas will feel the impact.

  1. New limits for state and local tax deductions.

What it is: While homeowners previously had an unlimited itemized deduction amount, under the new bill, they can only itemize deductions up to $10,000 for the total state and local property taxes and income or sales taxes. The cap is the same for both individual and married filers.

What it means: Households that itemize deductions and pay more than $10,000 in combined state and local taxes will get a smaller tax break, and for others, having a cap on deductions may be the deciding factor for some as to whether or not to itemize.

  1. Capital gains time frame excluded.

What it is: The previous capital gains tax policy, which stated that homeowners must live in the home for two out of the past five years in order to qualify for the exclusion, remains unchanged.

What it means: Sellers who live in their homes between two and five years can list their homes on a more flexible schedule without fear of a potentially hefty tax hit. (An original Senate bill had proposed an increase in the residency requirement to five years out of the past eight, but it did not make the final version.)

  1. Home equity loan deductions qualified.

What it is: Taxpayers will no longer be able to deduct interest paid on home equity loans beginning in 2018. Previously, there was a cap of $100,000 of home equity debt.

What it means: By taking away a low-cost financing option, many worry that owners will end up paying more for their loans, which could impact the home ownership rate make it more difficult for struggling communities to reinvent themselves. This shouldn’t impact the rate of home ownership but may affect home renovations.

  1. Standard deduction doubled.

What it is: The standard deduction for both single taxpayers and married couples filing separately used to be $6,350; that is being doubled under the new law to $12,000. Married couples filing jointly will see their previous deduction of $12,700 increase to $24,000.

What it means: This increase will most likely impact how many homeowners take advantage of their mortgage interest deduction. With a larger standard deduction and a decreased itemized deduction, many filers will no longer find it financially advantageous to itemize deductions. Under the current tax code, itemizing and claiming the mortgage interest deduction is financially worthwhile for about 44% of homeowners. Under the new law, itemizing and claiming the mortgage interest deduction will only be worthwhile for about 14.4% of homes nationwide.

Of course, it’s much to soon to tell how these new tax codes will affect anyone. According to research in the Wall Street Journal, it appears that taxpayers in high-cost areas (such as New York, San Francisco, Honolulu, and even Chicago) will feel much of the impact, and high-tax burdened markets will most likely receive a higher tax bill with the new limit. Low-tax states, however, may benefit from the new code.

Many thanks to RISMedia, realtor.com, and Zillow Research for the insight and analysis that contributed to this post. And many thanks to our CPA who proofed the piece for accuracy. 

If you have questions about the new tax code, and particularly how it will affect the Elmhurst housing market, please reach out to us. We’re here to help! Call (630) 441-5570 or visit www.gmregroup.com

Elmhurst Open House List for Feb. 3-4

by Thomas Makinney

823 S Washington St., Elmhurst


749 S Fairview Ave., Elmhurst


445 S Parkside Ave., Elmhurst

207 N West Ave

Elmhurst

02/04/2018

1:00-3:00 PM

$372,400

414 E Schiller St

Elmhurst

02/04/2018

1:00-3:00 PM

$389,900

963 Chatham Ave

Elmhurst

02/04/2018

1:00-4:00 PM

$449,900

101 W Madison St

Elmhurst

02/04/2018

12:00-2:00 PM

$462,900

412 E Huntington Ln

Elmhurst

02/04/2018

1:00-3:00 PM

$539,000

310 S Chandler Ave

Elmhurst

02/03/2018

12:00-2:00 PM

$539,900

384 S West AVe

Elmhurst

02/03/2018

1:00-3:00 PM

$550,000

591 S Fern Ave

Elmhurst

02/03/2018

11:00AM-1:00 PM

$559,000

823 S Washington St

Elmhurst

02/04/2018

12:00-2:00 PM

$650,000

749 S Fairview Ave

Elmhurst

02/04/2018

12:00-2:00 PM

$894,800

141 N Caroline St

Elmhurst

02/04/2018

12:00-3:00 PM

$949,900

141 N Caroline St

Elmhurst

02/03/2018

12:00-3:00 PM

$949,900

140 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,129,000

140 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,129,000

148 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,139,000

148 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,139,000

136 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,269,000

136 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,269,000

445 S Parkside Ave

Elmhurst

02/04/2018

12:00-2:00 PM

$1,339,900

128 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,529,000

128 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,529,000

Displaying blog entries 1-8 of 8

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