Archive for December, 2009

Flipper Alert: Buy From the Bank, Re-list for $54K More: 1540 N. LaSalle in the Gold Coast

The flippers are back! We first chattered about this phenomena with a 1-bedroom unit at 600 N. Kingsbury in River North. Unit #814 was bank owned and sold in August 2009 for $200,000 (with the parking). It was then re-listed for sale in October 2009 at $238,900 (plus $29,000 for parking). It’s still available. See […]

Roscoe Village Single Family Home, Now a Short Sale, Pending Again: 3308 N. Bell

We last chattered about this 4-bedroom single family home at 3308 N. Bell in Roscoe Village in September 2009. See our prior chatter and pictures here. At the time, the house had gone into contract after being on the market only 10 days. But it fell out of contract and the house was re-listed shortly […]

The Biggest Story of 2010: Foreclosures, Foreclosures, Foreclosures

We’ve chattered about many distressed properties here on Crib Chatter, including short sales and foreclosures, in the last 2 years. But recently, the number appears to be picking up, even in “prime” parts of town. You can definitely see the increase in the multi-unit buildings and smaller “starter” condos in North Side neighborhoods. Also worth watching […]

4 Months Later and This Foreclosure Is Still Available: 933 W. Van Buren in the West Loop

We last chattered about this 3-bedroom penthouse foreclosure at 933 W. Van Buren in the West Loop in August 2009. See our prior chatter here. At that time, many of you thought it would sell quickly at its list price, which was about $200,000 under the 2003 purchase price. It’s 4 months later and the […]

Roscoe Village 2-Bedroom That Went Under Contract in Less Than 2 Weeks Closed: 2234 W. School

We last chattered about this Roscoe Village 2-bedroom unit at 2234 W. School in August 2009. See our prior chatter here. It was priced at its 2003 purchase price and went under contract within only 2 weeks. It closed in September 2009. The unit had all the “must-haves” for condo buyers in the neighborhood including […]

Second Biggest Story of 2010: What Will Happen to All the Million Dollar Homes?

We’ve chattered about the glut of million dollar homes many times over the past two years. In fact, many of the properties we’ve followed priced over a million dollars over the last few years remain on the market. Most at risk, however, appear to be million dollar new construction homes in neighborhoods where a million […]

Still Seeking a Buyer 20 Months Later: 159 E. Walton in the Gold Coast

We’ve chattered about this 2-bedroom customized unit in the Palmolive at 159 E. Walton in the Gold Coast several times before. See our prior chatter here. Since it was listed 20 months ago, in April 2008, it has been reduced by $620,000. The listing says it has been customized with a million dollars worth of upgrades […]

Cool Portage Park Bungalow Still Available: 5501 W. Cullom

Not all bungalows are created the same. This 4-bedroom house at 5501 W. Cullom in Portage Park certainly takes bungalow living to a new level. We last chattered about it in September 2009. See our prior chatter and pictures here. Built in 1926, it has a 1950s lounge in the lower level, a wine cellar and a […]

Third Biggest Story of 2010: Excess Inventory Continues to Plague Downtown

There is still plenty of new construction condo development going on in downtown Chicago. We’ve chattered about this story every new year for the past 2 years. In 2009, developers introduced the auction to try and move some of the inventory at reduced prices. It seemed to work. But there are numerous luxury buildings which […]

14-Months Later and Still Looking for a Buyer in the Fulton Market: 1418 W. Fulton

We last chattered about this rare single family home in the Fulton Market District at 1418 W. Fulton in February 2009. See our February 2009 chatter here. It has 6-bedrooms and a 3 car garage. While the outside looks traditional, the interior boasts a contemporary renovation including a 4-story atrium. The house has concrete floors […]