Archive for February, 2008

Vintage Beauty in Old Town: 1814 N. Lincoln Park West

Old Town is a very desirable neighborhood but the inventory is limited if you are looking for a certain type of property- say, one with a parking space. Unlike some vintage properties which have been gutted and stripped of the original features, this unit at 1814 N. Lincoln Park West still has the historic feel.  Unit #4: […]

Foreclosure on Historic Greystone in Grand Boulevard: 4501 S. Forrestville

There are some great homes in the Grand Boulevard neighborhood on the South Side of the city such as this one, a 1889 historic house at 4501 S. Forrestville.  Unfortunately the market got a little to hot for the neighborhood during the boom. The listing states: Recently renovated 5 bedroom, 4.5 bath Greystone mansion. Beautiful condition. Offers best of […]

Why We Love Chicago: 562 W. Arlington Place in Lincoln Park

We’ve been chattering about so much doom and gloom lately, how about just seeing some lovely properties? 562 W. Arlington is the quintessential Chicago home in East Lincoln Park.  It’s the kind of house you walk by and wonder, “who lives there?” And compared to our competitor cities (NY, DC, SF), it’s downright affordable. Unit #2: […]

More free parking: Printers Corner at 170 W. Polk

More developers are getting into the “free parking” incentive game. Printers Corner, a new mid-rise building at 170 W. Polk in the South Loop, is now offering free parking for those who “purchase and close by April 1, 2008.”  Parking was $36,000 before this “deal.” There are a few units being flipped.  At least three are available to […]

Prices Continue to Fall at Admiral’s Pointe: 645 N. Kingsbury

There has been a slow trickle of foreclosures in Admiral’s Pointe, at 645 N. Kingsbury, in River North. The building originally closed on units in 2002. Prices continue to fall in the building, with some units listed for under their 2002 closing prices. Two units are currently in foreclosure: Unit #2501: 2 bedrooms,  2 baths, 1180 […]

More Stress at the Caravel: 635 N. Dearborn in River North

  I last chattered about 635 N. Dearborn in River North in October 2007. At the time, some sellers seemed pretty desperate. Unit #1703: 2 bedroom, 2 bath, 991 square feet Sold in January 2004 for $373,500 Was listed in October 2007 for $395,000 plus $35,000 for parking (two spaces available) Still listed for $395,000  Listing […]

Terrapin Properties, Developer of Burnham Pointe, is in Financial Trouble

Crain’s reported on Terrapin’s financial problems a week ago but now the Sun-Times is confirming that the company could be the first of the big condo developers to go out of business. Terrapin Properties is the developer of 901 W. Madison in the West Loop as well as Burnham Pointe at 710 S. Clark in […]

Flipper Alert: Buyers Walking Away From Deposits in 550 St. Clair

At least one developer is confirming that not all of its buyers are closing on units. Mark Sutherland, of Sutherland Pearsall Development, developer of 550 St. Clair confirmed that slowing sales was the reason the company is going to build a hotel instead of a second condo tower in Streeterville.  From David Roeder’s column in […]

Flipper Alert: Sun-Times Claims A Trump Hotel/Condo Unit Flips

  David Roeder, the Sun-Times Real Estate columnist, wrote this week that a hotel/condo unit on  the 21st floor has been successfully flipped in Trump Tower Chicago, at 401 N. Wabash in River North. The owners of a hotel unit on the 21st floor sold it for $899,000 after initially asking $1 million, said their […]

She doesn’t have to sell: 3813 N. Whipple

Thanks to the tipster who sent me the listing information on Linda Rizzuto’s house.  She is the woman in the Chicago Tribune article who said: Linda Rizzuto, for one, said she isn’t inclined to come down from the $444,900 she’s asking for the Northwest Side home where she has lived 17 years, though not one […]