The North Shore, August 7th, 2021

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RETURN TO NORMAL? LOCAL REAL ESTATE PROFESSIONALS SAY THAT AFTER A HOTTER THAN HOT MARKET DURING THE COVID-19 HEALTH CRISIS, THE NORTH SHORE MARKET APPEARS TO BE RETURNING TO USUAL SEASONAL TRENDS.

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This spectacular home at 55 E. Onwentsia Road in Lake Forest, listed by Donna Mancuso of Coldwell Banker HomeServices, closed in early June for $5,350,000. The newer construction home sits on three pristine acres in highly sought-after East Lake Forest. BY MITCH HURST THE NORTH SHORE WEEKEND

As North Shore residents begin to return to pre-pandemic routines—going out to restaurants, attending concerts at Ravinia, hosting summer gatherings with friends and family— local real estate experts say the unprecedented hot market for homes on the North Shore is beginning a return to traditional cycles. For both buyers and sellers, this could be a good thing. “Last year was one of the busiest years

we've had on the North Shore in 20 years. It was unprecedented,” says Thomas Downing, Vice President of Brokerage Services and Designated Managing Broker for @properties in Winnetka. More recently, low inventory has frustrated buyers, Downing says, and sellers are having to deal with multiple offers on their houses, which isn’t always easy. “The good news is we have had a slowdown in the last three or four weeks where we're seeing more inventory coming on the market,” Downing explains. “Sellers have been as exasperated as buyers by the fact they couldn't

find anywhere to move to, either.” The key to a healthy, long-term, real estate market is balance, and Downing says he’s starting to see that happen. “I actually think a little bit of a more balanced market is healthier because everybody wins,” says Downing. “The national news was talking about it being a seller’s market, but all real estate is local. The absorption rates, which is the amount of inventory it’s going to take to see a balanced market, is six to seven months of inventory, and right now we’re about at Continued on PG 10


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INDEX

LIFESTYLE & ARTS 14 north shore foodie Pair sweet corn and succulent wild-caught shrimp with risotto for a delicious summer dish

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NEWS RETURN TO NORMAL?

which is typical in the summer months,” says Donna Mancuso, who’s with Berkshire Hathaway HomeServices in Lake Forest. “In September, we

From PG 1

three-and-a-half.” Downing also says that unlike the market in 2008 and 2009, the market this past year is not inflated. “This is not a bubble. People get nervous that it was like the big bubble in 2008 and 2009, but that was completely a different situation,” he says. “There were a lot of people underwater, and a lot of people had loans they probably shouldn't have had.” This time around, buyers have resources to either pay cash or get a loan from a reputable institution, especially since the financial regulatory reforms that emerged from the predatory lending practices of late 2000s. “People have more money than they expected to have.They may have stayed home, they worked from home, but they weren't spending money on restaurants,” he says. “They weren't spending it on travel. So, there's a lot more disposable income for people who are out there home buying.” It’s the trend toward a balanced market that makes Downing believe it will remain strong into next year, and he believes inventory will begin to tick up further. “You want to buy your straw hats in the winter. You don't want everybody doing the same thing at the same time,” he says. “What happens is sellers end up, once it starts to slow down and they have their friends and families or their realtors telling them it may be time to sell, then they become more relaxed and realize they don’t want to lose out.” An absolute necessity for buyers, Downing says, it to hire an agent with access to private listings. Private listings have helped drive the

Michael Mitchell, a broker with @properties in Glencoe, agrees with Downing that the market is returning to some level of normalcy. He’s seeing the patterns in the market from past years emerging. “This year is falling back to the usual real estate buying pattern that we have had in traditional years. We had no early spring market last year because we couldn't even show a house,” Mitchell says. “The majority of the business last year took place in June, July, and August. This year started out very strong in early spring and it lasted through the end of June. July got quiet and that's a much more traditional year.” Mitchell says the slowdown, for him, is not such a bad thing given how busy the market has been since last spring. “There’s been a bit of a breather and I didn't mind it. When I speak with a lot of my colleagues, they didn't mind either because it was so intense that it gave us a little bit of a break and gave us time to enjoy summer a little bit,” he says. “Now that we're approaching August, as is typical in a normal year, we're seeing another push

321 4th Street in Winnetka sold before listing by Chris Veech of @properties. The 4,250 square feet home also features more than 2,000 square feet below grade.

should see activity pick up again with more new listings coming on the market and competition will remain fierce for those properties that are priced correctly and show ready.” As far as the market and how it will look moving into 2022, Mancuso says it’s tough to predict. “The future seems too uncertain to predict right now, with things like the Delta variant and talk of new mask mandates possibly coming into play again,” she says. “But with the current low mortgage rates, along with an increase in remote working opportunities helping to fuel the surge in housing demand, this current cycle could be here for a while.” While the market might be on a path toward balance, some brokers are finding that buyers are frustrated by both the slow availability of inventory and higher prices. “Record high home prices and multiple offers are causing some buyers to retreat from the market. Some of that is attributed to buyer fatigue and some of that is attributed to more value-driven buyers that view current pricing as being inflated,” says Connie Dornan, with @ properties in Glenview. “The summer market has not been as strong as it was earlier in the year,

An active listing by Jena Radnay of @properties at 1304 Trapp Lane in Winnetka features more than 10,000 square feet of living space across four floors.

market on the North Shore the past 18 months, and they give buyers an inside edge over their competitors. “You can learn about a property from your agent much sooner than you can on your own,” Downing says. “I don't think people realize how powerful that was during this market. I really saw it first-hand. People who had agents had access to private listings. They're important, and you need a broker to do that.”

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but I do believe the fall market will be stronger and end the year on a positive note for 2021.” Another trend is sellers who delayed plans to move out of state—either for retirement or a job switch—are now comfortable enough with vaccination rates to move ahead.

where people haven't bought a house and want to get settled before the school year starts. So, there's an uptick again.” “I do see this current market continuing through the end of the year. Things are still busy but have slowed down a bit in the past few weeks,

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“People who are listing now finally got their plans together on the back end,” says Jena Radnay, with @properties in Winnetka. “They’ve found houses to buy in other areas of the country where the market is hot, like Austin, Texas.” But demand is still there, and Radnay says that, particularly in the luxury market, listings don’t last long. “There aren’t any three-million-dollar homes on the market,” she says. “I just listed a home on the lake in Kenilworth and already five people want to see it.” We may be moving in the direction of a “postCOVID-19” market, but Chris Veech, with @ properties in Winnetka, believes in some ways the pandemic has permanently altered what people are looking for in a home. “We’ve been battling two issues the last 17 months and they are COVID-19 and fear. There is definitely some PTSD out there,” she says. “I think a lot of people are going to want to have more space for the foreseeable future. If interest rates stay low, this group is going to keep moving to the North Shore for the next few years.” Susan Maman, a broker with @properties in Winnetka, thinks migration from the city to the North Shore that occurred the past 18 months might slow down as people start to remember what it is they love about Chicago. “Chicago is a great city and a resilient city,” she says. “If we can continue on the right path, I don’t foresee the degree of exodus to the suburbs that we saw this past year.” For the North Shore real estate market,Thomas Downing sees a return to the age of reason. “I do think we're becoming more balanced. We're entering the fall market, which is our second busiest time of the year, in a much more balanced way,” Downing says. “I think it's going to be very busy, but I think it's going to be reasonable. I don't know a better word. I just think it'll be reasonable.” THE NORTH SHORE WEEKEND


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LIFESTYLE & ARTS

NORTH SHORE FOODIE

SHRIMP AND SWEET CORN RISOTTO

BY WENDY FRANZEN THE NORTH SHORE WEEKEND

Sweet corn and succulent wild-caught shrimp make great bedfellows, and the gentle acidity of summer’s first tomatoes balance and delight. This risotto is equally delicious with lobster—simply swap one pound cooked and chopped lobster meat for the shrimp. PHOTOGRAPHY BY WENDY FRANZEN

INGREDIENTS • 6 cups shellfish and corn stock (recipe follows) or low-sodium chicken stock • 3 large ears corn, shucked (about 2 cups kernels) • 2 tablespoons unsalted butter • 2 cloves garlic, minced and divided • kosher or sea salt and freshly ground black pepper • 3 tablespoons extra virgin olive oil, divided, plus more for drizzling • 1 lb 16/20 count shrimp, peeled and deveined (shells reserved for stock, if making) • 2 medium shallots, chopped • 2 sprigs thyme • 1 ½ cups arborio rice • ⅔ cup good dry white wine • 8-10 basil leaves • zest of a large lemon • ½ cup freshly grated parmesan cheese, divided • 2 tablespoons tarragon leaves, finely chopped • 1 large heirloom tomato, small diced chervil, micro-chervil, or chopped fresh chives for garnish

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METHOD Pour stock into a medium saucepan and bring to a simmer. Reduce heat and cover, keeping warm. Cut kernels from cob: Invert a small bowl and place in a large bowl (see above photo). Set tip of cob on small bowl and hold cob from stem end. Using a sharp knife, carefully cut downward so kernels and juices fall into large bowl. Drag back of knife down cob to extract any remaining juices. Repeat on all ears. Set empty cobs aside for stock, if making. Heat one tablespoon butter and half of the garlic in a large skillet over medium-low heat. Add corn kernels, season with a pinch of salt, a grind of pepper, and sauté, stirring occasionally, until corn has softened, about 5 minutes. Pour into a bowl and set aside. Place one tablespoon olive oil and remaining tablespoon butter in pan and raise the heat to medium. Add rest of garlic and 30 seconds later the shrimp, a small pinch of salt, and sauté 1½ minutes per side, or until shrimp are pink and just firm. Place on a plate until cool enough to handle, then chop into bite-sized pieces and set aside. In a large, heavy bottomed saucepan, heat remaining 2 tablespoons olive oil over medium.

Add shallots, thyme sprigs, and a ¼ teaspoon salt, sautéing and stirring occasionally until softened, about 5 minutes. Add rice and cook a couple of minutes, stirring constantly until grains appear semi-translucent. Add the wine, stirring constantly until absorbed, about two minutes. Add a ladle full of hot stock (about ½ cup) to rice, stirring until almost absorbed. Repeat this process, a ladle full at a time, until rice is creamy and perfectly al dente, tasting to make sure it isn’t crunchy, 20-25 minutes. You may have stock left over, and if you run out, don’t panic! Warm some extra broth or water and resume adding and stirring until desired doneness is reached). Remove from heat and discard the thyme sprigs. Tear basil leaves into small pieces over the pot, then stir in lemon zest, ¼ cup of parmesan, tarragon, shrimp and corn. Season with salt and pepper, and a splash more broth if risotto needs loosening. Toss the diced tomatoes with a drizzle of olive oil and a sprinkle of salt just before serving (don’t do this ahead of time or juices will release). Spoon generous helpings of risotto into shallow bowls and top with tomatoes, chives or chervil, and remaining parmesan. Drizzle each bowl with a bit of olive oil and serve immediately.

| SATURDAY AUGUST 7 | SUNDAY AUGUST 8 2021

SHELLFISH AND CORN STOCK Makes about 2 quarts

Making stock is a simple, unfussy task. If you have extra shells or cobs hanging around the freezer, throw them in the pot. If you only have half an onion or no wine, that’s okay too. Relax! The only requirement here is having 6-7 cups of liquid when simmering is done— enough to make your risotto. • 3 corn cobs • shells from 1 lb shrimp and/or any reserved shells you may have • 1 white or yellow onion, cut into quarters • 1 bay leaf • ⅛ teaspoon peppercorns • ½ cup dry white wine • 2 ½ quarts water, or more to cover Place all ingredients in a large stock pot, adding more water if needed to cover ingredients. Bring to a boil then reduce to a simmer. Let simmer for 45 minutes to an hour. Remove shells, cobs, and onion from pot and discard. Strain through a fine sieve into an extra large bowl. Use immediately or cool and freeze for later use. THE NORTH SHORE WEEKEND


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S U N D AY B R E A K FA S T

LASER-FOCUSED BUSY SEMI-RETIREE AND PHOTOGRAPHER PHILLIP ROSS IS LOVING EVERY OPPORTUNITY TO SNAP AN INDELIBLE IMAGE—AND ASSIST LOCAL ARTISTS ALONG THE WAY. BY BILL MCLEAN ILLUSTRATION BY BARRY BLITT

It was Phillip Ross’s turn to move people, to bedazzle them, through his art. Finally. The year was 2014. Ross had essentially executed the visions of others, namely bosses and clients, as a graphic designer or as an art director or as a creative director for 40 years. When he wasn’t following orders, he was collaborating with two others … or four others … just pick a number. In 1970 he started turning in assignments to his superiors as a graphic designer at a community college in Monterey, California. Those Utah photo shoots, in spectacular settings? Ross worked with world-class photographers and directed them for Marlboro ads during his time at Leo Burnett in the 1990s. His awardwinning studio, Beda Ross Design, created posters and logos and hand lettering for cultural and fine arts organizations. The talented Mr. Ross toiled. The dutiful Mr. Ross brought others’ ideas to vivid life, decade after decade. Then, 2014 arrived. Phillip Ross’s new title: semi-retiree. But the longtime Lake Bluff resident threw himself, fulltime, into his passion for fine art photography and is stuck in constant-hurtle mode. “Liberated,” Ross, 75, says of what he felt seven years ago—and still feels today. Many of his captivating photographs are of flowers and plants, with most of the images out of focus, save for a speck that’s in super focus. A soft photo appears softer, thanks to the technique. Ross’s “Healing Touch” photo spotlights the arresting violet and splendid blues of a hydrangea. “That photo, I feel, embodies my sense of style,” Ross says. “Someone came up to me recently and said, ‘Oh, you’re the one who likes out-of-focus flowers.’ I’m that guy. I’m mostly interested in color and composition. I believe soft images, particularly of flowers and plants, give people relief from everyday chaos. “They have healing properties,” he adds. Inhabitants in the pandemic-marred world, it seemed, all could’ve used a salve in 2020. People suffered on a number of fronts, from failing health (physically and mentally) to loss of income to disruptions in education. Businesses closed, including some in Lake Forest’s Market Square. Artists? They created, created, and created—at home. But their opportuni-

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ties to showcase their artwork melted, melted, and melted. Lake Forest Art Pop to the rescue. The unique pop-up gallery in downtown Lake Forest was hatched last year by three local artist organizations: Artists on the Bluff; the Deerpath Art League; and the Lake Forest-Lake Bluff Artisan Guild. Why not, with permission from landlords, stage art in empty retail spaces? Art— paintings, photography, jewelry, millinery, and other forms—certainly blows away the dreary look of brown paper covering a

storefront window. Art from a range of local artists—coordi-

That photo, I feel, embodies my sense of style. Someone came up to me recently and said, ‘Oh, you’re the one who likes out-of-focus flowers.’ I’m that guy.

Phillip Ross

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nated by Ross—got displayed. Passersby stopped. Passersby bought art. Lake Forest Art Pop has moved to 724 Western Avenue, where it hopes to host themed shows each month until the end of 2021. “It was well-received from the start, and we truly appreciated the full support of the Lake Forest/Lake Bluff Chamber of Commerce and (its executive director) Joanna Rolek,” says Ross, who has lived in Lake Bluff for 37 years with his wife, Frania, a native of Germany. “Our first three months, we sold about $30,000 of artwork, much more than anyone had expected. Such generous people, the local residents. Wo n d e r f u l hearts. They were thrilled to return to the shops, once they reopened. “What I think happened was, people were stuck inside for so long that when they saw

our artwork in the windows, they knew exactly where they wanted to put it in their homes.” Ross was born in Oak Park and moved to Elmhurst in the fourth grade. He served as sports editor of York High School’s yearbook for two years, choosing—instead of shooting—the best photographs. He tried out for the wrestling team one winter and was told he’d make the squad if he defeated a certain returning Duke grappler. The grappler: an all-stater. “I didn’t make the team,” Ross says. Ross attended the University of Illinois for a couple of years, studying pre-law. He also toured the country for a couple of years, mostly during the summers, as an electric bass player for a rock group named The Buffum Tool Company. Remember the Summer of Love in San Francisco’s Haight-Asbury neighborhood? Ross does. He and his band mates performed there. Ross, an Army veteran, bought his first camera, a Mamiya Sekor 35 mm SLR, in Japan in 1969, while on an R&R from Vietnam. Most of his shots were of the scenic variety. Years later, while traveling Europe, he snapped 8,000 photos, maybe more. In the late 1960s “I began my creative career,” Ross says. His enrollment at the Chicago Academy of Fine Art to study interior design, drawing, and painting vaulted him to a slew of highly successful stints from 1970 to 2014. His move from Los Angeles to Chicago in 1975 preceded his time as an art director in charge of designing pinball games for major pinball companies Bally and Chicago Coin, among others. Freelance gigs ensued. Next? The formation of Beda Ross Design with co-workers Lynn and Dale Beda. The trio collected more than a few awards in the “BC” Era (“Before Computers,” Ross cracks), including recognition from such publications as Communication Arts, Print Magazine, the Art Directors Club of Los Angeles, Typographers International Association, and Time. Ross can’t wait to take 8,000 more shots in Europe someday. But he’ll settle for being the busiest semi-retiree stateside. He has photos to take, exhibits to organize, and boards to serve— Artists on the Bluff; the Lake Bluff History Museum; and the Deerpath Art League. Plus he’s a member of the Chicago Photographic Arts Society and the Chicago Botanic Garden. “There’s nothing like having the time to pursue my personal art,” Ross says. “I find the entire process of creating art fulfilling. And when it’s sold? “Great validation.” Visit neodeco.com to view Phillip Ross’s artwork. For more information about Lake Forest Art Pop, visit artistsonthebluff.org or contact artpopoflf@ gmail.com. THE NORTH SHORE WEEKEND


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