Crib Chatter

The IAR is out with March data. The Chicago market still remains unbalanced. Inventory is at another low going back to 2008. As a result, sales fell again.

The city of Chicago saw an 18.9 percent year-over-year home sales decrease in March 2024 with 1,790 sales, down from 2,208 the year before. The median price of a home in the city of Chicago in March 2024 was $359,000, up 7.3 percent from March 2023 when it was $334,450.

Historic data courtesy of G:

City of Chicago condo/TH/SFH closed totals March
year/closed/median/% REO-Short Sales
Year Closed Median %REO/SS

1997 1,226 $126,875
1998 1,540 $137,003
1999 1,766 $152,125
2000 1,793 $167,500
2001 1,800 $195,000

2002 2,112 $210,000
2003 2,261 $225,000
2004 2,772 $244,950
2005 2,822 $271,125
2006 3,000 $275,862

2007 2,399 $285,000
2008 2,098 $300,000
2009 1,219 $217,000 37%
2010 1,860 $207,750 38%
2011 1,481 $163,763 49%

2012 1,630 $170,500 44%
2013 1,894 $187,500
2014 1,875 $235,000
2015 2,173 $260,000
2016 2,149 $269,000

2017 2,546 $295,000
2018 2,343 $310,500
2019 2,062 $290,700
2020 2,123 $319,950
2021 2,937 $345,000

2022 2,883 $345,000
2023 2,208 $334,450
2024 1,790 $359,000

Just a reminder that March 2021 was a new high in sales since 2006. But March sales are now looking more like the housing bust years of 2009-2012 but without the foreclosures and short sales.

“This March, closed sales dipped, though median sales price increased and days on market shortened – this is evident of a busy spring season in Chicago amid a pinched inventory market,” said Drussy Hernandez, president of the Chicago Association of REALTORS® and vice president of brokerage services for Coldwell Banker Realty in Chicago.

Inventory is low in Chicago, and statewide.

Statewide inventory fell another 14.2% to 15,268 from 17,795 last year. Median price, statewide, was up 9.5% to $282,000 from $257,000.

“The number of sales rose significantly from February to March in both Illinois and the Chicago PMSA,” said Dr. Daniel McMillen, Professor of Real Estate and Associate Dean for Faculty Affairs at the University of Illinois-Chicago College of Business Administration.

“Prices also increased. However, the number of sales is lower than at this time last year. Consumer confidence has been high for several months now, and sales traditionally increase significantly in spring. The number of sales and prices should continue to increase steadily over the next several months.”

Inventory in Chicago fell 16.4%. Here’s what it looked like the last three years.

• March 2022: 6506
• March 2023: 5044
• March 2024: 4216

The average thirty year fixed rate mortgage was up month-over-month in March to 6.82% from 6.78% in February. It was also higher than March 2023 when it was 6.54%.

When will inventory finally hit bottom?

And will that bottom provide a boost to home sales?

Shrinking inventory again stymies Illinois home sales, this time during March [Illinois Association of Realtors, Press Release, by Stephanie Sievers, April 19, 2024]

This 3-bedroom in Park Place Tower at 655 W. Irving Park in Lakeview came on the market in April 2024.

Built in 1973, Park Place Tower is one of the tallest buildings on the north side of the city.

It has 901 units and garage parking. The parking looks to be a mixture of owned spaces and leased, some of it valet.

A prior listing called it a full amenity building with “resort style living” with “24 hour concierge, package receiving, gym, yoga room, Olympic sized pool, sundeck with grills, outdoor basketball court, party room, movie theater, business center, bike storage, grocery store, on-site maintenance, and on-site laundry room.”

Park Place Tower also has on-site managers.

This 3-bedroom is a combined unit on the 47th floor.

It has hardwood floors throughout (not sure if laminate or real hardwoods).

The listing calls it a “modern masterpiece.”

The kitchen has sleek white custom cabinets, granite countertops, stainless steel appliances and a breakfast bar with seating for 4.

The dining room has custom cabinetry and is large enough to seat 10.

The living room has an electric fireplace and there is a separate sitting room.

The primary suite has an en suite bathroom with a double vanity, walk-in-shower and soaking tub along with a walk-in-closet.

The second bathroom has also been renovated and has marble finishes.

The listing says the third bedroom could be used as a den or office.

The unit has central air and it says there is garage parking (not sure if it’s owned or leased). There is no washer/dryer in the unit as there is coin laundry in the building.

As it’s one of the tallest buildings on the north side, Park Place Tower is a view building. This unit has floor-to-ceiling windows in some rooms with city skyline, lakefront and Wrigley Field views.

This building is on the border between Lakeview and Uptown’s Buena Park neighborhood near the golf course and Montrose Beach. It’s near the Sheridan red line stop and numerous bus lines. There are restaurants and shops nearby.

Buyers love move-in ready homes.

Listed at $550,000, will this sell quickly?

Wendi Gordon Shelist and Joie De Graff at @properties Christie’s have the listing. See the pictures and floor plan here.

Or see it at the Open House this Saturday, April 27, 2024, from 12 pm to 2 pm.

Unit #4715-13: 3 bedrooms, 2 baths, 1542 square feet

• Unit #1: Sold in December 2005 for $236,500
• Unit #1: Sold in March 2019 for $205,000
• Unit #2: Sold in August 2005 for $269,500
• Unit #2: Sold in October 2017 for $182,500
• Last “sale” for combined units was: $387,500
• Combined unit currently listed at $550,000
• Assessments of $1598 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7523
• Central Air
• No washer/dryer in the unit. Coin laundry in the building
• Parking (included or leased?)
• Electric fireplace
• Bedroom #1: 14×11
• Bedroom #2: 14×11
• Bedroom #3: 10×7
• Kitchen: 9×8
• Living room: 19×11
• Dining room: 19×10
• Sitting room: 10×11

This 2-bedroom vintage row home at 1873 N. Leavitt in Bucktown came on the market in April 2024. I don’t have a picture of this group of row homes but I wanted to talk about this one nevertheless.

Built in 1888 on a 16×124 lot, it has a 1.5 car garage and yard.

This is a fee simple row home.

The listing says it is old world charm meets modern comfort and convenience.

Are you in Paris or Chicago?

It has some of its vintage features including oversized windows, high ceilings, vintage trim, the original staircase and a foyer.

The main floor has the living room, dining room and kitchen. It has hardwood floors.

You would expect to find a fireplace in the living room, but there isn’t one.

The kitchen has wood cabinets and stainless steel appliances and faces east. There’s a deck off the kitchen.

The second floor has both bedrooms and one bathroom. The bedrooms are carpeted.

The lower level, which the listing says is “only steps” below grade, has a family room, a utility room and another full bathroom.

The lower level has a separate entrance.

The house has central air and the garage has party doors.

The listing says it’s steps from the 606. It’s near the Damen and Western blue line stops and the shops and restaurants of Bucktown.

Listed at $849,000, is this a deal for a row home with a garage?

Alishja Ballard at @properties Christie’s has the listing. See the pictures and floor plan here.

1873 N. Leavitt: 2 bedrooms, 2 baths, no square footage listed, row house

• Sold in November 1981 for $38,500
• Sold in August 1986 for $73,500
• Sold in July 1992 for $157,000
• Sold in April 2003 for $492,000
• Sold in September 2015 for $550,000
• Sold in June 2022 for $775,000
• Currently listed at $849,000
• Fee simple. No assessments.
• Taxes of $13,121
• Central Air
• 1.5 car garage
• Bedroom #1: 15×21 (second floor)
• Bedroom #2: 15×16 (second floor)
• Living room: 15×10 (first floor)
• Dining room: 15×17 (first floor)
• Kitchen: 11×11 (first floor)
• Family room: 15×21 (lower level)

This 2-bedroom at 2128 N. Hudson in Lincoln Park came on the market in April 2024.

Built in 1932, this association consists of two vintage buildings side-by-side which has 32 units in total.

There’s no doorman or other amenities but it does have outdoor parking behind the buildings. It was converted into condos during the housing boom, in 2005.

This unit has hardwood floors throughout.

There’s an open kitchen with white cabinets, stainless steel appliances and new quartz countertops, new tile backsplash, and a new sink and faucet.

There’s a small dining area and a balcony off the living room.

The primary suite has 2 closets and an attached marble bath.

The second bedroom has French doors with an attached bath and walk-in-closet.

This unit has the features that buyers look for including central air, washer/dryer in the unit and one outdoor parking space is included.

The listing says this building is “steps” to Gemini and DeNucci’s. It’s also near Target and Lincoln Park. There are numerous transportation options nearby.

Listed at $439,000 that’s $48,000 above the 2021 purchase price of $391,000.

Is this a deal for a 2/2 with all the bells and whistles?

Gregory Desmond at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #304: 2 bedrooms, 2 baths, no square footage listed

• Sold in October 2005 for $387,000
• Sold in January 2021 for $391,000
• Currently listed at $439,000
• Assessments of $347 a month (includes security, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7295
• Central Air
• Washer/dryer in the unit
• On-site parking space included
• Bedroom #1: 17×16
• Bedroom #2: 12×10
• Living room: 14×11
• Dining room: 7×6
• Kitchen: 14×8
• Gallery: 20×4
• Balcony: 9×6

This 2-bedroom penthouse in 3055 N. Seminary in Lakeview came on the market in April 2024.

The listing says this building was built in 1922, but we’ve chattered about it before and those listings said it was constructed in 1910. It has 16 units and, per other chatters, some outdoor parking.

This top floor unit has a “sunny” southwest exposure and “true” hardwood floors.

It also has a wood burning fireplace in the living room.

The over sized living room has a bay window and a bar along one wall with marble counters, beverage cooler and glass fronted cabinets.

The 2 bedrooms have organized closets.

The chef’s kitchen has 42 inch walnut cabinets, concrete counter tops, stainless steel appliances, and a pressed tin backsplash which opens to the breakfast/dining room.

There’s a covered rear deck.

It has some of the features that buyers look for including central air and washer/dryer in the unit but there’s no parking.

This building is located in between the Belmont and Wellington subway stops, near several bus lines and near the shops and restaurants of central Lakeview.

The listing says you can walk to Ann Sather and Bittersweet Pastry.

Listed at $459,900, is the mid-$400,000s the new price for 2/1s?

D. Waveland Kendt at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #4S: 2 bedrooms, 1 bath, 1200 square feet, penthouse

• Sold in July 1983 for $61,500
• Sold in April 1984 for $65,000
• Sold in July 1986 for $83,500
• Sold in March 1989 for $117,500
• Sold in October 1993 for $140,000
• Sold in July 1996 for $148,000
• Sold in May 1999 for $110,000
• Sold in March 2003 for $265,000
• Sold in November 2006 for $275,000
• Sold in May 2010 for $313,000
• Currently listed at $459,900
• Assessments of $340 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7317
• Central Air
• Washer/dryer in the unit
• No parking
• Wood burning fireplace
• Bedroom #1: 12×15
• Bedroom #2: 12×14
• Living room: 16×17
• Dining room: 12×8
• Kitchen: 10×12
• Bar: 9×5

This 1-bedroom penthouse loft in the Huron Street Lofts at 225 W. Huron in the gallery district in River North came on the market in April 2024.

The top picture is the current picture of the building taken this year. The bottom picture was taken over a decade ago.

Strangely, I am standing in nearly the same place when I took both pictures but the trees are now missing and there is a new building just to the west.

Built in 1896, this brick and timber building was a factory. It was converted into 100 loft condos in 2008. There’s no parking with the building.

It has on-site management, a nightly security guard, an exercise room and a roof top deck with seating and grills.

This loft has exposed brick walls, exposed duct work and white washed timber ceilings that are soaring and are unique only to the top floor.

It has designer lighting and laminate wood floors.

The listing says it’s “super chic.”

The living room is open to the kitchen and dining room, has built-in bookcases and overlooks Huron street.

The kitchen is “designer” with custom white cabinets, granite counter tops, an undermount sink, Viking stainless steel appliances, along with a stove hood, and a peninsula with seating.

The bedroom does not have windows but it does have a skylight and a wall-to-wall closet but also appears to be open to the hallway wherein there is a screen and drape for privacy.

The bathroom has a custom rustic vanity and towel bar.

This loft has some of the features buyers look for including central air and washer/dryer in the unit. There is no parking but it’s available for rent in the neighborhood.

Huron Street Lofts is near the Brown and Purple line stop at Chicago and the shops and restaurants of the Gallery District.

Listed at $335,000, is this a loft lover’s dream?

Elizabeth Amidon at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

You can also see it at the Open House on Saturday, April 20, 2024, between 1 – 3 PM.

Unit #612: 1 bedroom, 1 bath, 887 square feet, loft

• Sold in July 2013 for $230,000
• Sold in October 2015 for $290,000
• Currently listed at $335,000
• Assessments of $422 a month (includes gas, exercise room, exterior maintenance, scavenger, snow removal, Internet, sundeck, bike room)
• Taxes of $3615
• Central Air
• Washer/dryer in the unit
• No parking
• Skylight
• Bedroom: 12×13
• Living room: 18×18
• Dining room: 9×6
• Kitchen: 9×8

This top floor 2-bedroom at 447 W. Fullerton Parkway in Lincoln Park came on the market in April 2024.

Built in 1900, the building has 8 units. This listing says it has one parking space included, but in an older crib on this building, it says there isn’t parking at all.

Some of these vintage buildings only have 1 or 2 garage spaces with the building so this may be such a case.

The listing calls this unit the “perfect marriage of vintage character and modern updates.”

It has some of its original vintage features including a separate dining room with built-ins and a beamed ceiling, and sunroom, which the listing says could be used as a bonus space.

The unit also has a foyer with what may be a vintage mirror (?), extensive wall moldings throughout, French doors in the living room and hardwood floors throughout.

The listing says the kitchen and both bathrooms have been “tastefully” upgraded.

The kitchen has white cabinets and stainless steel appliances.

The unit has a private back deck.

It has the features that buyers look for including washer/dryer in the unit, and what looks like wall cooling units. It also has one of the coveted parking spaces, which is included.

Is the parking truly on site? There’s no picture of it.

This building is near the shops and restaurants of Clark Street in Lincoln Park and Lakeview. It’s near Lincoln Park and the Zoo as well as numerous bus routes.

Listed at $635,000, this unit last sold in June 2016 for $496,000.

It seems to have everything buyers of vintage would look for.

Will this sell for the asking price?

Ashley Cox at Compass has the listing. See the pictures here (sorry, no floor plan).

Unit #3W: 2 bedrooms, 2 baths, 1438 square feet

• Sold in December 1987 for $148,500
• Sold in March 1992 for $176,000
• Sold in April 1997 for $206,500
• Sold in February 2000 for $289,500
• Sold in August 2002 for $376,000
• Sold in August 2005 for $390,000
• Sold in June 2016 for $496,000
• Listed in April 2024 for $635,000
• Assessments of $414 a month (includes heat, exterior maintenance and scavenger)
• Taxes of $8386
• No central air- but wall units
• Washer/dryer in the unit
• Decorative fireplace
• Bedroom #1: 14×13
• Bedroom #2: 13×10
• Living room: 17×17
• Dining room: 15×13
• Kitchen: 14×9
• Sunroom: 15×6
• Deck

This 3-bedroom in 400 E. Ohio in Streeterville came on the market in April 2024.

Built in 1982, 400 E. Ohio has 181 units and attached self-parking heated garage with car wash station, where there is also free guest parking.

There are just 4 units per floor.

It’s a full amenity building with valet / cleaners, garage attendant, door staff, engineer, on-site manager, an indoor pool, a sauna, and an exercise room.

This unit is on the 40th floor. It is an east corner unit with lake and city views.

The listing says it has been “upgraded” and is rarely available.

The unit has newly stained dark hardwood floors in the living room, dining room, kitchen, foyer and hallway.

The three bedrooms have new carpet in cream colored Berber.

The listing says the unit has been newly painted, including the ceiling.

The living room has an entertainment center with a 55 inch flatscreen and dimpled mounted electric fireplace.

The bedrooms has new RH Italian linen curtains.

All three bedrooms have been “updated.”

“Primary bath has standing shower including flat stone shower floor with coordinating pebbles. 2nd bathroom has standing shower, including flat stone shower floor and linen texture porcelain with pebbles on shower floor. Guest bathroom has standing shower including polished porcelain on the floor and shower walls , with ceramic penny rounds for the shower floor , and accents of a linear, stain glass mosaic.”

The kitchen has white cabinets with new granite countertops, new white backsplash, a Bosch dishwasher, GE appliances, a new wine cooler and a walk-in-pantry.

The unit has the features that buyers look for including central air and an updated heating system. It also has a Electrolux ventless washer/dryer. One garage space and private storage are included.

It does not have any private outdoor space.

This building is near all the shops and restaurants of Streeterville as well as the AMC movie theater, Whole Foods and Target. It’s a few blocks from Ohio Street Beach.

Listed at $925,000, it was last purchased in 1998 for $510,000.

Is this a deal for 3-bedrooms in Streeterville?

Marie Gordon and Melina Michelin at Berkshire Hathaway Homeservices have the listing. See the pictures and floor plan here.

Unit #4003: 3 bedrooms, 3 baths, 1992 square feet

• Sold in July 1994 for $342,500
• Sold in August 1998 for $510,000
• Currently listed at $925,000
• Assessments of $2004 a month (includes doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal)
• Taxes of $14,304
• Central Air
• Washer/dryer in the unit
• 1 heated parking space included
• Private storage included
• Bedroom #1: 18×13
• Bedroom #2: 18×11
• Bedroom #3: 14×11
• Living room: 24×17
• Dining room: 10×14
• Kitchen: 11×9
• Breakfast nook: 9×7

This 3-bedroom townhouse in Dearborn Park at 978 S. Park Terrace in the South Loop came on the market in February 2024. The picture above represents a unit in this complex but not necessarily THIS unit.

These townhomes were built in 1980. There are 144 units and parking (is it outdoor?).

This unit is two stories with an open floor plan on the main floor.

It has hardwood floors throughout.

The first floor has a living room, dining room, kitchen and half bath.

The listing calls the kitchen “gourmet” with white cabinets, stone counter tops, a peninsula that seats 3 and stainless steel appliances.

There’s also a private, fenced in patio on the main floor.

The second floor has all three bedrooms and 2 full baths.

The primary suite has an en suite bathroom with marble finishing throughout and a walk-in-closet.

This house has central air and parking is included.

This complex is just south of Printers Row and is near shops and restaurants of the South Loop.

Listed in February 2024 for $629,000, it has been reduced $19,100 to $609,900.

Is this a deal?

Tom Bakritzes at Compass has the listing. See the pictures and floor plan here.

Unit #610: 3 bedrooms, 2.5 baths, 1500 square feet, townhouse

• Sold in November 2011 for $270,000
• Originally listed in February 2024 for $629,000
• Reduced
• Currently listed at $609,900
• Assessments of $560 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal, Interent)
• Taxes of $7353
• Central Air
• Washer/dryer in the unit
• Parking included
• Bedroom #1: 22×11 (second floor)
• Bedroom #2: 13×11 (second floor)
• Bedroom #3: 13×10 (second floor)
• Kitchen: 18×8 (main floor)
• Living room: 15×12 (main floor)
• Dining room: 15×10 (main floor)
• Foyer: 9×6 (main floor)
• Patio: 11×21 (main floor)

This 3-bedroom duplex down at 1351 N. Damen in Wicker Park came on the market in April 2024.

Built in 1885, this building was “gutted to the studs” in 2019 by ZS Development. It has 3-units, garage parking and a side yard.

We chattered about this building when it was first being gutted back in 2019. Some of you didn’t like the location on Damen.

See our 2019 chatter here.

We now have interior pictures of the unit which were missing in 2019. This unit does not have any of its vintage features anymore.

But it does have windows on all four sides of the building with a side yard on one side and an alley on the other.

The unit has wide panel hardwood floors.

The main floor has the living room, dining room, kitchen and a family room all in open concept.

There’s also a half bath on the main floor.

The kitchen is “gourmet” and has custom white ceiling height cabinetry, professional grade integrated stainless steel appliance package, quartz countertops, and an oversized island with waterfall edge and seating for 5.

The lower level has all three bedrooms, two full bathrooms, a sitting area and the laundry.

The primary suite has a walk-in-closet and a luxurious en suite with oversized shower and double vanity.

It has central air, washer/dryer in the unit and one car garage parking.

This unit also has an expansive 600 square foot private patio and side yard which provides a “rare oasis in the city.”

This building is near the Blue Line stop at Damen, and the shops and restaurants of Wicker Park, Bucktown, Ukrainian Village and West Town.

Listed at $895,000, is this a townhouse alternative?

Amanda McMillan at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #1: 3 bedrooms, 2.5 baths, 2030 square feet, duplex down

• Sold in December 2019 for $772,000 (per Redfin)
• Currently listed at $895,000
• Assessments of $266 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $8796
• Central Air
• Washer/dryer in the unit
• 1 car garage parking
• Bedroom #1: 12×13 (lower level)
• Bedroom #2: 12×10 ( lower level)
• Bedroom #3: 10×11 (lower level)
• Living room: 14×12 (main level)
• Dining room: 16×15 (main level)
• Family room: 15×10 (main level)
• Kitchen: 15×13 (main level)
• 600 square foot private patio and side yard