Selecting the right set of clubs is a crucial step for golf beginners, and it all starts with understanding the basic types of golf clubs. The set typically includes woods, irons, wedges, and a putter. Woods are ideal for longer shots, irons for various distances, wedges for precision around the greens, and the putter for the final strokes on the green.
Beginners must consider different factors when choosing golf clubs, starting from assessing one’s skill. Opting for beginner-friendly clubs can significantly aid learning, fostering confidence and enjoyment.
Budget constraints can affect the decision-making process. Beginners might prefer more affordable options since their preferences and playing styles may evolve. Budget-friendly alternatives from reputable brands often offer a good balance between quality and cost.
The material of the clubs also deserves consideration. While many clubs are made of stainless steel, some high-end options incorporate graphite shafts for added flexibility. Steel clubs are typically suitable for beginners.
Choosing a reliable brand and model can be overwhelming. Beginners can seek guidance from more experienced golfers, research online reviews, or consult with professionals at golf specialty stores for personalized recommendations.
Those hesitant to make a significant upfront investment can borrow or rent clubs. This allows beginners to familiarize themselves with different types of clubs, understand their preferences, and make informed decisions based on their evolving playing style. Once their skills improve, players can revisit their club selection to align with their renewed preferences and abilities.
A broad term, multifamily housing covers all properties with multiple families living in one building, from smaller condos and apartments to large-scale developments. For investors, such developments provide a pathway toward predictable passive rental earnings. Relatively easy to finance, rental properties can rapidly compound returns as they leverage economies of scale.
One key decision point is how much to charge in monthly rent. Many investors use the “one percent rule” in defining how much they need to charge to attain target revenues. This is a straightforward calculation for single-family homes: a $200,000 residence should bring in at least $2,000 monthly rent ($200,000 x .01).
For multifamily housing, the calculation is more complex, as the total target rental income is divided by the number of units. For example, a $10 million apartment complex should bring around $100,000 monthly. If there are 50 units in the building, this costs $2,000 per unit.
Remember that the one percent rule is a basic guideline for mapping the required cash flow. Estimated rental prices always consider the median rate for comparable rental units in the local area and amenities and features that make the property stand out and elevate renter demand.
Chicago’s real estate landscape in 2024 is marked by several factors potentially shaping its trajectory. Forecasts indicate a gradual decrease in interest rates, with expectations that they might dip below 7 percent, according to sources like realtor.com and redfin. This shift can significantly impact mortgage affordability and subsequently influence home prices.
The city anticipates potential growth in new construction, driven by various factors, including the consistent increase in remote workers moving to the suburbs. However, the looming vote on the new transfer tax system introduces an element of uncertainty. The proposed reduction in transfer taxes by 20 percent for properties under $1 million and the substantial increase by up to 400 percent for properties over $1 million are subjects of concern, potentially affecting market dynamics and consumer behavior.
Adding to the complexity is the challenge posed by the upcoming presidential elections, historically known for adding uncertainty to financial markets and consumer sentiment. This may influence real estate sales and market dynamics, yet historical trends suggest that Chicago’s real estate sales remain resilient during election cycles.
Despite these challenges, suburbs like Naperville, Aurora, Skokie, and Niles present promising housing outlooks for 2024. These areas, characterized by popular amenities, accessibility, and established communities, are likely to remain desirable. The interplay of these factors will define the landscape of this dynamic market, but experts predict an overall positive start to the year.
In 2023, a property tax incentive that reflects Chicago’s mandate of creating and preserving affordable housing within its urban core came into effect. The aim is to encourage development that enables families of modest means to remain in new and existing downtown towers and West and South side neighborhoods.
Signed into law in 2021 by Governor J.B. Pritzker, the Affordable Illinois incentive package stipulates that participating developers in Fulton Market and other high-income downtown neighborhoods retain 20 percent of units within the affordable price range.
This represents a seismic shift from past policy. While Chicago has long required creating a certain amount of affordable housing when developers secure changes to zoning (and other benefits), there has never been an on-site requirement. Developers would generally fulfill their affordable housing obligations by paying fees to the city or constructing such housing in less expensive neighborhoods.
In mid-2023, the first project under the Affordable Illinois law came to fruition, with the 300-unit rental tower The Row Fulton Market completed. Located in Chicago’s most dynamic market, the building features 60 affordable units and promises to be the first of many to use the tax incentive.
Tennis is one of the most globally widespread sports in existence. The men’s professional tour held tournaments in 31 countries in 2023, while the women’s tour visited 30 countries on six continents. The main tours combine for over 100 tournaments, in addition to lower-level tours and junior tennis events. However, one tournament stands out above all others as the most enduring, prestigious event in the sport.
The All-England Croquet Club was founded in 1868. A few years later, the new sport of tennis was introduced at the club. In 1877, the organization rebranded itself as the All-England Croquet and Lawn Tennis Club and held the first Wimbledon tennis championships. The event has been held almost every year for nearly 150 years.
The US Open held its first event in 1881, making it the second-oldest tennis tournament in the world. The tournament has moved venues on several occasions, but has taken place in Flushing Meadows since 1978 and New York state since 1915. The oldest non-major (the Canadian Open) is also held in North America. Also established in 1881, the event is held in Montreal and Toronto every year.
The French Open, the European Open in Hamburg, and the Austrian Open in Kitzbühel were all established before 1900, as were the Monte-Carlo Masters and the Swiss Open. The Cincinnati Masters was first held in 1899, joining the US Open as one of the nine oldest tennis tournaments.
One proven multifamily real estate strategy is converting rental apartments into condominium units. This conversion process applies to any building where tenants reside in separate units, such as co-op buildings with tenant shareholders or attached row or townhouses. In urban environments like Chicago, condo conversions can extend to buildings initially zoned for commercial purposes. These structures are rezoned and rehabilitated to serve residential needs.
Condo deconversion has been a growing trend. This involves selling a building to a third party responsible for converting condos into apartments. The guidelines for these transactions are outlined in Section 15 of the Illinois Condominium Property Act, and they are organized as bulk transactions that require approval through a vote by the unit owners within the building’s governing association.
For a Section 15 sale to go through, the association must garner at least 75 percent approval from the owners of units. At the end of the deconversion process, the building is no longer operated by singular condo owners, as the purchaser owns it.
There are two pathways by which deconversions come to fruition. One is through an unsolicited offer by a purchaser or developer, and the other involves an association seeking an offer. Unsolicited offers typically come in the form of a letter of intent, which provides the general terms governing a potential purchase. Notably, this does not represent a binding offer or contract and is not an actual purchase agreement. This allows the association to vote on the proposal and reach a workable agreement.
Since 2017, Chicago has been at the forefront of large-scale deconversion projects, including the $60 million Century Tower condo apartment in the Loop and the $112 million property at 1400 N. Lake Shore Drive. Reasons for reconversions include increased home prices for single-person households and declining levels of homeownership among those of retirement age.
At the same time, higher interest rates and increasingly strict mortgage lending standards have made purchasing homes or condos more challenging for families seeking to enter the real estate market. This has increased the demand for rental units, particularly those located close to transportation and shopping amenities.
In historically significant areas like Chicago, many older buildings require extensive, expensive, and time-consuming repairs. When condo associations lack the necessary financial resources, they may face special municipal assessments related to deferred maintenance and essential capital improvements. Investors participating in deconversions can assist in covering these often substantial expenses imposed by local authorities.
For instance, a condominium dealing with a $140,000 special assessment may discover that accepting an attractive sales proposal is a practical choice. This enables them to offset the financial strain of maintenance and renovations, eliminating the need for the association to impose additional special assessments or secure substantial loans.
Given market fluctuations, unit owners may also find it challenging to sell their properties profitably, and deconversion can help recoup losses on unit sales. Investors and developers must carefully consider whether the major upkeep and repair needs of historic condo buildings make them viable deconversion candidates. One potential drawback of reconversions is that, for unit owners, it represents a loss of long-term investment gains for the short-term profit of a sale.
One of the most scenic itineraries in Europe is the Rhone Valley, which follows the contours created by France’s second-longest river. Originating at the Rhone Glacier in the Swiss canton of Valais in the Alps, the 504-mile Rhone River initially flows northwest to Lake Geneva. Exiting the lake at the southwest, it flows into France and joins with the Saone River near the city of Lyon. It then takes a southern course toward the Mediterranean Sea. At the city of Arles in the province of Provence, it branches into the Little Rhone and the Great Rhone, creating the Camargue delta region.
The Rhone River is distinct from the Rhine, which originates in Switzerland and runs through Liechtenstein, Austria, Germany, and France on its 765-mile journey northwest to Holland and the Atlantic Ocean. For the first leg of its journey, the Rhone is truly Alpine, as it flows through a massive trench that has cut between two of the highest ranges of the Alps.
The first village the river encounters is Oberwald, and it passes through the ancient burg of St. Maurice shortly before it exits the canton of Valais. Guarding the dramatic entrance of the Upper Rhone Valley, the town is situated on a relatively flat stretch of land between the river and rock face. It originally served as a Roman customs station and contains a castle and a historic abbey.
The town gained religious significance in the 4th century BCE when the martyred saint Maurice’s relics were transferred there. Exiting the town, the Rhone immediately flows through a narrow natural gateway strongly fortified over the centuries and drops into the wide alluvial plain that houses Lake Geneva.
Upon exiting Lake Geneva, the Rhone’s waters turn blue and slow-moving, though it speeds up as torrents from the Mont Blanc range join it. It runs through several narrow gorges along the southern spur of the Jura mountains before traveling freely westward through France to Lyon. Here, the Rhone Valley, one of Southeast France’s premier wine-growing regions, commences, with the river running 150 miles from Lyon to the Bouches-du-Rhone or the delta along the Mediterranean coast.
Fed by the water provided by the Rhone River, the valley has two distinct northern and southern viticultural sections. They are separated by a 25-mile stretch between Valance and Montelimar, where grapes are rarely grown. The smaller north section, known for appellations such as Cote Rotie and Hermitage, almost exclusively produces Syrah for red wines and Marsanne, Roussanne, and Viognier for whites.
The southern region, which is considered less prestigious, accounts for 95 percent of the valley’s wine production and boasts a much wider array of wine varietals. It includes the renowned Chateauneuf-du-Pape appellation and is celebrated for its robust red and white wine blends.
This section of the Rhone has historical importance, as it connected traders in the central and eastern sections of Gaul, an important Roman province, with the Mediterranean. Goods were hauled by barge from Mediterranean ports up the river in a journey that took around three weeks. From medieval times to the 19th century, passengers would travel by “coches d’eau,” or water barges drawn by horses walking along the banks. Following World War II, 10 canal locks were constructed, and diesel-powered motor barges were introduced, making transportation much more efficient.
A UNESCO World Heritage site, Lyon is the third largest city in France and combines a lively gastronomic culture centered on local bistros and Beaujolais wine production.
