top of page

Glossary

58 items found

  • 1718 S Halsted | PadScouts

    1718 S Halsted St, Chicago, IL 60608 Commercial & Residential Units Available Units: 12 Residential | 1 Retail Floors: 4 units on each floor (2nd, 3rd, 4th) Pricing: 1st Floor Commercial Space: $34 / sq ft 2nd Floor Units: TBD 3rd Floor Units: TBD 4th Floor Units: TBD Coming soon to the vibrant heart of Pilsen Neighborhood! Located steps from the bustling 18th Street corridor Commercial Space zoned B3-2 will be available June 2024, currently under construction. Excellent Pilsen location, close to shopping on Halsted, Metra station, easy access to expressway, University Dog Park, University of Illinois Chicago and easy access to downtown. Great opportunity and holds a ton of potential for future businesses such retail, showroom, medical office, professional / business office, restaurant and more.). 2505sq space located within a building with 12 upscale residential units. restaurant, retail store, office and much more. High foot traffic and excellent visibility. Features enormous street facing windows and 14 ft. ceilings, "vanilla box" open space ready to be customized, black-iron ready with complete line, and private 2-car garage parking with option to use as additional storage. Easy to Show contact for more information. Be the first one to see it! DESCRIPTION Request More Information on 1718 S Halsted St Units First Name Last Name Email Phone Write a message Submit Thanks for submitting!

  • How To Find A Lender | PadScouts

    How to choose a lender? Comparing quotes from several mortgage lenders is a critical part of the homebuying process. According to Freddie Mac data, getting three quotes can save you about $1,500, while five quotes can save you an average of $5,000. ​ So, how do you do this? First, apply with at least three lenders. ​ Head to their websites, fill out their online application forms, and give them a little information about your homebuying plans. You can usually get a quote within a few hours to a day or two. ​ Once you have the quotes in hand (they’ll come in the form of what’s called a “loan estimate”), you should look at the following points to compare your options: ​ Interest Rates Interest rates vary greatly between lenders. So, see how your quotes measure against other lenders. ​ Example of how interest rates can drastically change your monthly payment: Purchase Price: $300,000​ 10% down payment Loan Amount: $270,000 At 4.25% , your monthly interest and principal payment is $1,328.24​ At 4.75% , your monthly interest and principal payment is $1,408.45 APR ​This is your total annual cost to borrow the money, plus any fees or other charges required. Origination, underwriting, and application fees: Do the lenders charge fees for any of their services? If they do, compare the cost of those and see what comes out on top.​ Prepayment penalties Some lenders charge a penalty if you pay off your loan early. Make sure you know which of your options does and doesn’t​. Estimated closing costs and cash-to-close This is what you’re expected to owe for the loan’s closing and on closing day. These can vary greatly as well.​ Private Mortgage Insurance (PMI) Private mortgage insurance (PMI) is a ​ type of insurance policy that protects mortgage lenders in case borrowers default on their loans. This insurance cost will vary depending on the lender and the type of loan that you are seeking (i.e. Conventional, FHA, USDA, VA, etc.) ​ ​ How To Find A Lender? ​ You can find mortgage lenders online, through your real estate agent, or by using a mortgage broker. You can also look to your personal bank or local credit union for a mortgage loan. If you’re in Illinois, here are a few of our trusted partners: ​ Juan Fleitas - Compass Mortgage Direct Line: 630.687.6023 Cell Phone: 708.214.2222 Email Address: juanfleitas@compmort.com State License: NMLS# 219823 ​ Erica Garcia - Compass Mortgage Direct Line: 773.644.2932 Cell Phone: 773.710.1665 Email Address: ericagarcia@compmort.com State License: NMLS #1714772 ​ Amiel Steurman - Cypress Mortgage Direct Line: 312.829.1010 Email Address: amiel@cypressmc.com State License: NMLS #234812 ​ Wendy Aquino - SunWest Mortgage Company Direct Line: 773.946.3650 Email Address: wendy.aquino@swmc.com State License: NMLS #921729 ​ ​

  • Home Remodeling | PadScouts

    Home Remodeling Speak with a professional today about your project! FREE CONSULTATION First and Last Name Email Description Phone Number (Optional) Upload up to 5 pictures (15mb or less) Select File Get Estimate Services Kitchen New countertops, appliances, cabinets, sinks, and completely new redesigns.​ Bathroom New bath, shower, vanity, mirrors, lighting, sinks, and complete redesigns. Exteriors New Gutters, Deck, Patio, Painting, Windows, Sidings, Roof Basements Flooring, drywall, painting, and fully finished basements Where to Start? Prior to reaching out to several remodeling services, we're happy to give you advice on how much you might expect to pay for your home update. ​ In our investment business, we work with several trusted construction and remodeling companies and we love sharing information with homeowners. ​ We can also help you get estimates from various vendors anonymously so that you don't get bombarded with sales calls. ​ Get an estimate by filling out the form, call/text 773-389-5166 , or email us at remodeling@padscouts.com TIMELINE BUDGET SCOPE OF WORK EXPECTATIONS Process Gather Information - Room Measurements & Mood Board Get Estimate - Virtual, Call, or Physical Estimate Design Process (Optional) & Receive Proposal(s) Accept & Sign Agreement Schedule Construction Dates Execute Construction Final Walkthrough & Sign-off Completion Timeline Budget Materials Design Understand Your Reason The reason for why you want to start a home improvement or remodeling project is very important to how we advise you on the project. ​ There are different factors to consider depending on the reason for the renovation. For example, an improvement project to increase the home's value is different than building out your forever home concept. Increase Value Forever Home Functionality Style Update First and Last Name Email Description Phone Number (Optional) Upload up to 5 pictures (15mb or less) Select File Get Estimate Our Partners We work with a variety of local contractors and companies to help bring our projects to life. ​ ​ If you'd like our recommendations, enter your project details into the estimate form and someone from our team will speak with you to determine which contractors may be a good fit for your project. We strive to get you a few recommendations so that you have more than one option!

  • Showings | PadScouts

    Showings Showings are scheduled between buyers and sellers so that a prospective buyer can tour the property. The coordination for the showings is generally coordinated between the respective Realtors, with the input of the buyer and seller of course. ​ For the Seller: The Realtor will usually provide a Lockbox where a key for the property will be placed. Either your Realtor or the Buyer’s Realtor will escort the Buyer through your home Make sure to prepare your property for a showing and to also secure your valuables. It is recommended that Sellers do not leave anything out. Although a Realtor will be present during the showing, it is always better to be safe and secure your items. When a Buyer and the Buyer’s Realtor has coordinated a showing with a Seller, the Realtor will receive a Lockbox code to open the Lockbox to receive the key and gain access to the property. ​ For the Buyer: Your Realtor can either coordinate an individual property showing or schedule multiple properties in one day. It is usually a lot more efficient to see multiple properties in a day. Only a Realtor is able to receive a Lockbox code from the Seller’s Lockbox per the Illinois regulations. ​ ​

  • Investments | PadScouts

    PadScouts Investments We are actively looking to buy properties. PARTNER WITH US The Keys to Our Success Our investment company's keys to success are exceptional customer service, adaptability to changing market conditions, and dedication to delivering strong investment returns. With over a decade of real estate experience, our team of professionals has the knowledge and expertise to navigate the complexities of the market and provide our clients with the best possible investment opportunities. We are committed to helping our clients achieve their financial goals and building long-lasting relationships based on trust and transparency. Real Estate Experts Terms Flexibility In-House Construction Cash Offers Partner With Us Whether you are looking to sell a single family home, multifamily, or another real estate asset, seek a partner for a joint venture, or would like to offload an asset – we want to learn more about your property and deal. Invest With Us We Buy Homes Consulting We Fix Properties Anchor 1

  • Copy of 1606 S Ashland | PadScouts

    1606 S Ashland Ave Unit C-1, Chicago, IL 60608 4,675 SF of Retail Space Available Space: 4,675 SF Year Built: 2023 Sprinkler System: Fire Extinguisher/s, Smoke or Fire Protectors, Sprinklers-Wet, Stand Pipe, Carbon Monoxide Detector(s) Air Conditioning: Central Air Electricity: Circuit Breakers, Separate Meters, 201-600 Construction: Brick Foundation: Concrete Zoning: C1-2, Chicago Stunning Pilsen condo-quality new construction, available September 1st! 1622sq of modern, spacious, and bright 3BD/2BA with 1 garage spot included. Unit features 11' ceilings, 9' doors, oversized floor to ceiling windows, central air and heat, custom lighting, vinyl luxury plank floors throughout, wide open kitchen/ living/ dining space, modern kitchen cabinets, quartz countertop, GE ss appliances, contemporary bathroom tiles and fixtures, vast number of closets and private balcony. 2nd bedroom with large full bath presenting free standing tub, shower, and double vanities. In unit full size site by site washer & dryer. Application fee is $50 per adult applicant. Non-refundable move-in fee is $350 per adult tenant. Non-refundable pet fee is $350. 1 pet per unit under 35lbs allowed. Tenant pays heat/ cooking gas and electric. No security deposit. Minimum credit score requirement - 750. 1 year lease minimum. The building is within walking distance of Pink Line, great restaurants, convenience stores, art galleries, boutique shops, park and many more. Quick access to expressway, Medical District and UIC. DESCRIPTION 1606 S Ashland Ave, Chicago, IL 60608 Residential Units Available Units: 24 Floors: 8 units on each floor (2nd, 3rd, 4th) Pricing: 2nd Floor Units: $3,000/mo 3rd Floor Units: $3,200/mo 4th Floor Units: $3,400/mo Request More Information on 1606 S Ashland Ave Unit C-1 First Name Last Name Email Phone Write a message Submit Thanks for submitting!

  • Real Estate | Padscouts | Chicago

    Your Real Estate Resource Helping home buyers and sellers in the Chicagoland area with all their real estate needs! Home Buying Process One-Stop Resource PadScouts' Real Estate Resource is here to tell you about all of the steps involved in the home buying and selling process. Our goal is to give you information about the processes so you can make informed choices for your real estate decisions. Personalized Consultation Home Buying Process Learn every step of the home buying process from start to finish. There are a lot of steps and many people involved. We want to make sure you're fully informed! Lease-To-Own Opportunities Not ready to buy a home? There are resources available that can help you secure the property before you can buy. Home Selling Process Learn every step of the home selling process and all of the costs associated so that you can make the best decisions when selling your home. Glossary There is a lot of terminology in real estate. Look them up here to learn about them before a real estate transaction. Reviews Our real estate experts are here to help you if the site doesn't have the answers you're looking for. See how they've helped others who've requested a free consultation. “This was a great resource to look up information about selling my home! I had a complex inheritance deal so I scheduled a personal consultation and spoke with Robin. He was amazing to work with and helped us navigate the resources available to help us buy the property! ” Gloria M. Contact

  • Open House | PadScouts

    Open House For the Seller Open Houses are a great way to allow the general public access to view your property. Your Realtor will be present to facilitate and host the guests as they arrive to view your home. Open Houses are a great way to allow more people into the home and see the property. Some might just be neighbors who are curious to see your home. But, it’s a great opportunity to have more eyes on the property because they might know someone who is interested! Open Houses are not just for those interested in buying but also those who might know someone who is buying. ​ For the Buyer Open Houses are great opportunities to see a home without prior coordination. Once an open house is scheduled by a Seller, buyers can visit the property anytime within that window. Unlike a scheduled showing, a Buyer will not be allocated an exclusive time slot to view the property. Instead, there may be multiple Buyers at the property simultaneously depending on the traffic coming through to visit the property. Open Houses are generally not a good time to negotiate with a Seller’s Agent because they may be attempting to assist and answer multiple Buyers’ questions during the Open House. It is usually better to contact the Seller’s Agent after the Open House is over to negotiate or submit an offer . ​ ​

  • Packages | PadScouts

    Packages I'm a paragraph. Click here to add your own text and edit me. I’m a great place for you to tell a story and let your users know a little more about you. Best Value Free Consultation $ 0 0$ 1 Month, 2 Lessons per week Free Plan Select I'm a benefit I'm a benefit I'm a benefit I'm a benefit

  • Earnest Money | PadScouts

    Earnest Money ​ Earnest money is an amount paid in to escrow early in the home purchase process to essentially put a “hold” on the property for the buyer. The money is deposited once an offer has been accepted . It’s a way of showing serious intent that the buyer is going to stay true to their offer, and protects sellers from having to deal with buyers putting out multiple offers or going into negotiations on multiple properties. At closing, the earnest money payment is generally taken out of escrow and put toward the buyer’s down payment. ​ A REALTOR®, title company, or an attorney can usually hold this deposit. The amount varies from community to community, and it becomes part of your down payment. ​

  • Selling | PadScouts

    Home Selling Understand the Home Sale Process Selling your property is an important transaction. ​ A home sale includes multiple third party involvement, even if you don't use an agent. Understanding all of their roles is important to ensure a smooth transaction. Home Selling Steps Step 1: Find A Listing Agent Professional Involved: Realtor ​ The 1st Step to the home selling process is to find a listing agent that will serve your best interest. A good listing agent will be prepared to present a Competitive Market Analysis, and a provide marketing strategy. If you choose to work with the Realtor, you will sign a Listing Agreement . Step 2: Pick A List Price Professional Involved: Realtor ​ The 2nd step occurs after you sign a listing agreement where you to select a listing price. Your Realtor can help you decide the right pricing strategy and to calculate your proceeds for different prices. But, at the end of the day, it is your home and you can select the price. Steps 3: Marketing Plan Professional Involved: Realtor ​ The 3rd step involves you and your Realtor coming up with a plan to market your property. This is where you will decide if you'd like professional photography, videography, 3D tour, and where your listing will be displayed (i.e. Zillow, Realtor.com, etc.) Step 4: Prepare Home Professionals Involved: Realtor ​ The 4th Step is your responsibility. Your Realtor can provide you with guidelines and details to help your property achieve a sellable look. Preparations include cleaning the exterior/interior, touch-up paint, removing personal decorations, eliminating pet odors, etc. Step 5: Show Your Home Professionals Involved: Realtor ​ The 5th Step is where buyers will come and see your home. Most showings are conducted by your Realtor or the buyer's Realtor. Your Realtor will likely use a lockbox to allow the Buyer's Realtors access. You are in control of the scheduling. Step 6: Negotiate Final Price Professionals Involved: Your Realtor Buyer's Realtor ​ The 6th Step occurs when a Buyer submits an Offer . Your Realtor will help guide you on how to negotiate the price. They will be the liaison to negotiate on your behalf. In this step, you will also negotiate the contingencies for the contract. Step 7: Escrow & Title Report Professionals Involved: Realtor Mortgage Professional Real Estate Attorney Title Company ​ The 7th Step occurs after the offer is accepted. The buyer's earnest money will be placed into an escrow account and your realtor will order a title search . Step 8: Schedule Appraiser Professionals Involved: Realtor Mortgage Professional Appraiser ​ The 8th Step is when the mortgage appraiser schedules an appointment with you to appraise the value of the property. The buyer is entitled to back out if appraisal results are negative. Step 9: Home Inspection Professionals Involved: Realtor Home Inspector Real Estate Attorney ​ The 9th Step is where the home inspector conducts a home inspection . You may need be prepared to negotiate with the buyer if there are issues that need to be addressed because of the contingencies in the contract . Step 10: Closing Professionals Involved: Realtor Real Estate Attorney Mortgage Professional Title Company ​ The 10th step is the closing. Your agent will walk you through the documentation. The title company will transfer the property deed and finalize the documents and cut the checks to the respective parties.

bottom of page