Archive for September, 2010

“Great Investment Opportunity” in Bank Owned 2-Bedroom at 720 N. Larrabee in River North

This 2-bedroom unit in the Two River Place high rise at 720 N. Larrabee in River North has been on the market since August. It is bank owned and is listed for $66,000 under the 2004 purchase price. It has all the bells and whistles of newer construction including central air, washer/dryer in the unit […]

The $2.1 Million “As-Is” River North Row House: 431 W. Superior

This 4-bedroom newer construction row house at 431 W. Superior in River North came on the market as an “as-is” sale in August. It was recently reduced $275,000. From the pictures, the kitchen and baths are intact. The kitchen is described as a chef’s kitchen. There are 4 large terraces on a 27×110 lot. It […]

Market Conditions: Nearly 2 Years of Shadow Inventory in the Chicagoland Area

I’ve been saying for awhile that I am seeing more short sales appearing. Too many people are underwater, even in the best neighborhoods of Chicago. The Tribune discusses the large shadow inventory hanging over the market and how it means prices will continue to go lower. In the eight-county Chicago area, 19 percent of mortgages […]

A 2/2 With Parking for Under $280K in River North: 653 N. Kingsbury

We’ve seen 2/2s under $280k in River North before (aka in The Sterling) but never with a deeded parking space such as this unit has at Kingsbury on the Park at 653 N. Kingsbury. It is bank owned and listed for $91,100 under the 2004 purchase price. The unit has the bells and whistles buyers look for […]

Buy a $399,000 Historic Bungalow in North Mayfair: 4841 N. Lowell

This 5-bedroom vintage brick bungalow at 4841 N. Lowell in the North Mayfair neighborhood (of what is technically Albany Park, I believe) came on the market in June 2010. It has been reduced $20,000 since June. The listing says it has brand new kitchen and baths. The kitchen counters look to be granite and there […]

A Vintage Single Family Home For $375,000 in Wicker Park: 1234 N. Marion Court

This 4-bedroom house at 1234 N. Marion Court in Wicker Park has been on and off the market for 5 years. It has now been reduced about $375,000. There are no interior pictures of the home. The listing urges a buyer to “rehab this gem into your custom home for substantially less than the price of […]

Who Can Compete Against the Foreclosures? 3310 N. Halsted in Lakeview

This 2-bedroom unit at 3310 N. Halsted in Lakeview just came on the market. It is bank owned. The building looks to be 2006-2007 construction. From the pictures, it still has the bathrooms and kitchen intact which includes granite counter tops and stainless steel appliances. It has all the other new construction bells and whistles including central […]

We Love Private Rooftop Decks: 2144 W. Schiller in Wicker Park

This 2006-construction 2-bedroom penthouse at 2144 W. Schiller in Wicker Park has plenty of outdoor space. In addition to a private rooftop deck, the unit also sports 2 balconies, including one off the master bedroom. It has all the bells and whistles of newer construction including stainless steel appliances, granite counter tops and stone work […]

2-Flat in the Heart of Old Town Reduces Under 2007 Price: 343 W. Menomonee

We last chattered about this 2-flat (or single family home) at 343 W. Menomonee in Old Town in January 2010. See our prior chatter here. Back in January, the property was listed as a single family home for $238,000 over the 2007 purchase price. It has now been reduced $243,000 and is now listed for […]

Developer Slashes Prices on Larger 2-Bedrooms in Avenue East: 160 E. Illinois in Streeterville

No, the Avenue East development at 160 E. Illinois in Streeterville has not yet sold out. We’ve chattered about this building numerous times over the last 3 years as it started closings in 2007 just as the housing market started to weaken. It is located right next to the Mag Mile. Several larger 2-bedroom units […]