Does Historic Prairie Street Still Have Glamour? 1843 S. Prairie in the South Loop

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This 3-bedroom townhouse at 1843 S. Prairie in the South Loop came on the market in April 2016.

This development was part of the “Homes of the Commonwealth” built in 2005 to replicate the feel of the old historic Prairie street which was filled with mansions of the elite.

Some of you may remember this townhouse from our 2010 discussion when it was a short sale. See that chatter here.

The listing says it has a gourmet kitchen with granite counter tops, stainless steel appliances and a large island.

There’s one bedroom on the second floor with two on the third floor.

There’s a big media room on the 4th floor and a lower level family room.

The townhouse has two decks and a 2-car attached garage.

It’s across the street from the cute Woman’s Made Park.

At 4655 square feet, this is among the larger townhouses in the South Loop.

This development sold for a premium in 2005 when it was new.

Will it still get it 11 years later?

Nadine Ferrata at Coldwell Banker has the listing again. See the pictures here.

1843 S. Prairie: 3 bedrooms, 4 baths, 2 half baths, 4655 square feet, 2 car attached garage

  • Sold in August 2005 for $1,403,500
  • Was listed as a “short sale” in October 2010 for $1.395 million
  • Sold in November 2010 for $1.15 million
  • Originally listed in April 2016 for $1.725 million
  • Still listed at $1.725 million
  • Assessments of $295 a month (they were $225 a month in 2010)- includes lawn care, scavenger, snow removal
  • Taxes of $19,157 (they were $19,117 in 2010)
  • Central Air
  • Bedroom #1: 14×19 (second floor)
  • Bedroom #2: 12×17 (third floor)
  • Bedroom #3: 13×14 (third floor)
  • Family room: 15×25 (lower level)
  • Media room: 15×22 (fourth floor)
  • Terrace: 15×19

A 3100 Sq Ft Loft With a Private Terrace and City Views: 900 N. Kingsbury on the Near North Side

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This 3-bedroom loft in Domain at 900 N. Kingsbury in the Gold Coast (what is this neighborhood again???) recently came on the market.

(Sorry- this is the only picture I have of the building- but this is the commercial end of it with Groupon etc. I need a new picture!)

We’ve cribbed about a lot of the west facing, smaller lofts in this building but this unit is one of the east facing lofts with city views.

It has big industrial windows with 12 foot concrete ceilings and concrete columns.

The loft has a 25×24 private terrace.

It also has wide plank white oak floors.

The kitchen has quarter sawn walnut cabinets with Caesarstone counter tops, a Wolf range and double oversn.

There’s a separate family room.

The master suite has a custom-built walk-in closet and a steam shower.

It has Ann Sachs tile.

The loft has the features buyers look for including central air, a laundry room and 2-car garage parking.

This loft sold just 2 years ago after it was on the market just a few weeks.

There doesn’t appear to have been any major renovations. The current listing uses some of the 2014 listing pictures.

It is listed for $379,000 more than the 2014 sales price at $2.179 million.

If it sold quickly 2 years ago, will it sell just as quickly this time?

Katie Freeman at @Properties has the listing. See the pictures here.

Unit #746: 3 bedrooms, 3 baths, 3160 square feet

  • Sold in October 2002 for $935,000 (included 1-car parking)
  • Sold in July 2007 for $1.210 million (included 1-car parking)
  • Sold in November 2014 for $1.8 million (included 2-car parking)
  • Currently listed for $2.179 million (includes 2-car parking)
  • Assessments of $1832 a month (includes heat, air conditioning, gas, doorman, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger, and snow removal)
  • Taxes of $14,972
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 16×10
  • Bedroom #2: 11×10
  • Bedroom #3: 11×12
  • Terrace: 25×24
  • Walk-in closet: 14×9
  • Laundry room: 8×6

A Vintage Unit in a Hidden Part of the Gold Coast: A 2/2 at 119 W. Chestnut

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This 2-bedroom at 119 W. Chestnut in the Gold Coast came on the market in October 2016.

This brick and limestone building was constructed in 1910 and has 9 units.

The listing doesn’t say anything about an elevator in the building. It does, however, have a rooftop deck for the building with skyline views, tables and grills.

This unit is a large 2-bedroom with 2000 square feet.

It has 11 foot ceilings but, unfortunately, it doesn’t seem to have any of the original vintage features.

It has central air, however, which obviously wasn’t original to the unit.

There are hardwood floors throughout, a fireplace and bay windows.

The listing says the kitchen has been updated with white cabinets, granite counter tops, stainless steel appliances and a new subway tile backsplash.

The master suite has 2 closets and a master bath with a marble shower.

There are walk-in cedar closets and a laundry room.

There’s no deeded parking but the listing says there’s transferrable garage parking. Is it in one of the nearby high rises?

Chestnut is a “secret” Gold Coast street. It is tree-lined and, at this location, one way going west with many older buildings.

However, there are two new luxury apartment high rises going up within about a block of this building.

At $675,000, is this an affordable option for an up-and-coming part of the Gold Coast?

Cindy Wilson at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #2E: 2 bedroom, 2 baths, 2000 square feet

  • Sold in February 1997 for $241,000
  • Originally listed in October 2016 for $675,000
  • Currently still listed at $675,000
  • Assessments of $569 a month (includes cable, exterior maintenance, scavenger, snow removal)
  • Taxes of $9778
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 23×15
  • Bedroom #2: 13×12
  • Laundry room: 8×7

Is It a Buyers Market in Luxury Housing? 305 W. Fullerton Parkway in Lincoln Park

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This 4-bedroom in the Aztec at 305 W. Fullerton Parkway in Lincoln Park came on the market in September 2016.

The Aztec was built in 1916 and has 16 units with an elevator.

It fronts Lincoln Park and is also just steps away from the Lincoln Park Conservatory and the Lincoln Park Zoo.

This unit is one of the big grand units that would have been built at that time, with an entry foyer and a gallery.

The 4 bedrooms are all big and are all en suite, with one of them having a jack-and-jill bathroom.

The master suite has a large bathroom with heated floor, separate shower, a bubble jet tub and a custom walk-in closet.

The listing says the kitchen has been “rehabbed” with white cabinets and Viking and Subzero appliances.

This unit has features rarely found in vintage apartments including central air and washer/dryer in the unit.

The listing says there is a live-in engineer in the building and valet parking is available nearby for up to $290 a month.

Most of the new condo construction has been focused in the luxury market.

Is this one area of the market where there’s too much inventory, and not too little?

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Carol Ann Edwards-Nasser at @Properties has the listing. See the pictures here.

Unit #3E: 4 bedrooms, 3 baths, no square feet listed

  • The public records says it sold in February 1990 for $110,000 but it’s unclear if this is correct
  • Originally listed in September 2016 for $1.749 million
  • Currently still listed at $1.749 million
  • Assessments of $1453 a month (includes heat, gas, security system, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $18,000
  • Central Air
  • Washer/dryer in the unit
  • Nearby valet parking up to $290 a month
  • Bedroom #1: 18×14
  • Bedroom #2: 17×13
  • Bedroom #3: 20×13
  • Bedroom #4: 18×14
  • Gallery: 5×16
  • Laundry room: 9×9

 

Market Conditions: September Home Sales Third Hottest in Last 10 Years

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Without further ado, here are the September home sales numbers.

From the Illinois Association of Realtors:

The city of Chicago saw a 3.2 percent year-over-year home sales decrease in September 2016 with 2,336 sales, down from 2,414 in September 2015. The median price of a home in the city of Chicago in September 2016 was $261,500, up 4.6 percent compared to September 2015 when it was $250,000.

September sales for the last 10 years:

  • 2007: 2172 sales
  • 2008: 1816 sales
  • 2009: 1918 sales
  • 2010: 1403 sales
  • 2011: 1498 sales
  • 2012: 1845 sales
  • 2013: 2395 sales
  • 2014: 2242 sales
  • 2015: 2414 sales
  • 2016: 2336 sales

Median prices for the last 10 years:

  • 2007: $267,750
  • 2008: $268,600
  • 2009: $225,000
  • 2010: $180,000
  • 2011: $190,000
  • 2012: $188,900
  • 2013: $230,000
  • 2014: $249,000
  • 2015: $250,000
  • 2016: $261,500

“We continue to see a vibrant Chicago real estate market with homes moving quickly and with steady median price gains,” said Matt Silver, president of the Chicago Association of REALTORS® and partner at Urban Real Estate. “It is taking 42 days to sell a home, indicating buyers are eager to purchase when they find the right property.”

Statewide, the number of days on the market was 58, down from 65 days a year ago.

“Annual sales growth in September was flat in Illinois and Chicago,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “Prices, though, continued to increase and this trend is expected to prevail for the next three months. Both the Conference Board Consumer Confidence Index and the University of Michigan Consumer Sentiment Index pointed to positive directions at the national level as a result of a positive outlook on the labor market. Unfortunately, job growth in Illinois has been way below the national level, dampening housing sales.”

Have home sales have been “dampened” in Chicago? Or was he only referring to the downstate market?

Even though the headline number shows a decrease, you have to take a wider perspective.

Last year was the hottest September in 10 years and this year was the 3rd hottest. That includes 2007 which was the year that they were building of thousands of condos all over the city.

Remember that market? Flippers and “investors” buying 2, 3 or 4 condos each.

Right now, there aren’t thousands of new condos being built and the sales are still hotter.

Imagine if there was more inventory?

September sales were most likely properties under contract in June, July and August.

Was the market hotter then?

Or will this red hot pace hold up into the winter months?

Illinois home prices increase in September; Sales slow slightly [Illinois Association of Realtors, Press Release, October 20, 2016]

A Peek Inside One of the Sandburg Village Townhouses: 1318 N. Sandburg in the Gold Coast

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This 3-bedroom townhouse in the Sandburg Village at 1318 N. Sandburg in the Gold Coast came on the market in July 2016.

Built in 1965, there are several groupings of townhouses within the Sandburg Village which also includes high rises and studio homes.

This townhouse has east, west and south exposures.

It has some unique features including a private 400 square foot enclosed patio that leads to a fully enclosed grass courtyard that is shared by just 12 units.

The kitchen has white cabinets, stainless steel appliances and black counter tops.

The listing says the townhouse has 10 foot ceilings and a skylight.

Two of the three bedrooms are on the second floor, with the third on the main level. All three are generous in size.

The lower level has a family room, workout room and laundry room.

The townhouse has central air and garage parking.

The Sandburg Village townhouses rarely come on the market.

At under $1 million, is this a good family home option in one of the ritziest neighborhoods?

Paul Barker at Baird & Warner has the listing. See the pictures and the floor plan here.

1318 N. Sandburg: 3 bedrooms, 2 baths, townhouse, 2500 square feet

  • There’s no previous sale going back to 1986
  • Originally listed in July 2016 for $825,000
  • Currently still listed at $825,000
  • Fee simple but there’s a village HOA of $356 a month (includes cable, lawn care, scavenger and snow removal)
  • Taxes of $9423
  • Central Air
  • Garage parking included
  • Bedroom #1: 17×12 (second floor)
  • Bedroom #2: 17×11 (second floor)
  • Bedroom #3: 17×11 (main level)
  • Exercise room: 13×9 (basement)
  • Family room: 16×11 (basement)
  • Laundry room: 17×9 (basement)

Are Appliances Important to Buyers? A 2/2 at 2042 N. Clark in East Lincoln Park

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This 2-bedroom at 2042 N. Clark in East Lincoln Park came on the market in May 2016.

This building was constructed in 2002 and has 10 units.

It has an elevator and garage parking.

The unit has 11-foot ceilings and unique Romanesque columns outside the entrance to the kitchen.

The kitchen has Italian cherry cabinets, granite counter tops and luxury appliances including a Subzero refrigerator, Thermadore range and Bosch dishwasher.

It has marble bathrooms.

It has the other features buyers look for including central air, washer/dryer in the unit and a garage parking space.

This unit has been on and off the market, and has been rented, over the last few years.

It has been reduced $46,000 since May to $499,000.

In a 2-bedroom condo, do luxury appliances sway you to make the purchase?

Akos Straub at Coldwell Banker has the listing. See the pictures here.

Unit #4N: 2 bedrooms, 2 baths, 1350 square feet

  • Sold in July 2002 for $476,000
  • Originally listed in May 2016 for $545,000
  • Reduced several times
  • Currently listed for $499,000 (includes garage parking)
  • Assessments of $447 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $9219
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×13
  • Bedroom #2: 14×11

 

Get a 3-Bedroom Duplex Up for Under $650,000 in East Lincoln Park: 2141 N. Clark

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This 3-bedroom duplex up at 2141 N. Clark in East Lincoln Park came on the market in June 2016.

It has soaring ceilings and multiple exposures.

The kitchen has granite counter tops and stainless steel appliances.

It has the preferred layout with all three bedrooms on the second floor.

There’s also a family room on the main floor that the listing says can be used as a dining room.

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

This location is truly “east” Lincoln Park. It’s just steps from the Lincoln Park Zoo.

The listing also says its in the Lincoln school district.

This unit has been reduced $14,500 to $645,000 since June.

However, it last sold only a year ago for $620,000.

Will it get the premium over the sale just 12 months ago?

Mario Greco at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #3: 3 bedrooms, 2.5 baths, 2200 square feet, duplex up

  • Sold in March 1996 for $212,000
  • Sold in June 2000 for $395,000
  • Sold in April 2003 for $485,000
  • Sold in Mary 2006 for $720,000
  • Sold in October 2015 for $620,000
  • Originally listed in June 2016 for $659,500
  • Reduced
  • Currently listed for $645,000
  • Assessments of $220 a month (includes exterior maintenance, scavenger)
  • Taxes of $11,800
  • Central Air
  • Washer/Dryer in the unit
  • Garage parking included
  • Bedroom #1: 22×12 (second floor)
  • Bedroom #2: 15×11 (second floor)
  • Bedroom #3: 14×11 (second floor)

 

The Most Bizarre Listing Ever on Crib Chatter? A Row House at 848 W. Belden in Lincoln Park

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This 3-bedroom historic row house at 848 W. Belden in Lincoln Park just came on the market.

Built between 1884 and 1889, these row houses make up the McCormick Row House District. They are found on both Fullerton and Belden as well as Chalmers Place, which is the secret street in between.

The picture above is of the second grouping on Belden which is numbered up to 858 W. Belden. 848 W. Belden would be on the far right of this group of row homes.

They were apparently originally built to provide rental income for the nearby McCormick Theological Seminary.

They were designated Chicago Historic Landmarks in the 1970s.

There are 56 total homes. I also believe there’s a homeowners association with an assessment, although the listing for this row house says it is “fee simple” and doesn’t list any HOA fees.

These were built in the Queen Anne style. Some of them still contain their vintage features like crown moldings and fireplaces.

We don’t know what remains inside this one because there are no interior pictures with the listing.

Here’s what the description says:

THIS PROPERTY IS BEING SOLD OCCUPIED WITH ANY AND ALL CURRENT OCCUPANTS, IF ANY. NEITHER THE SELLER NOR THE LISTING BROKER CAN VERIFY THE EXISTENCE OF ANY LEASE AGREEMENT WITHER WRITTEN OR VERBAL NOR ANY RENTAL AMOUNT BEING PAID, DUE OR OWING. BEING SOLD IN AS IS CONDITION / NEW BUYERS ARE TO EVICT / CASH OFFERS ONLY / NO INSPECTIONS / DO NOT DISTURB OCCUPANTS. SEE AGENT REMARKS FOR OFFER SUBMISSION INSTRUCTIONS.

For comparison purposes, only one other row house is currently on the market.

This end unit at 841 W. Chalmers Place is a 5400 square foot 5-bedroom home. It has been on and off the market since 2013.

It is currently listed at $1,749,850.

You can see pictures of that row house here.

Even with that requirements of listing, given the nearby comps, could this row house be a deal for someone with the cash?

Michael Olszewski at Area Wide Realty has the listing. See the listing here.

848 W. Belden: 3 bedrooms, 3.5 baths, 2904 square feet

  • Sold in July 1997 for $658,000
  • Lis pendens foreclosure filed in October 2009
  • Bank owned in January 2015
  • Currently listed “as-is” for $993,200
  • Cash only
  • Taxes of $14,157
  • Listing says no central air
  • Listing says 2-car parking
  • Bedroom #1: 19×14 (second floor)
  • Bedroom #2: 13×11 (second floor)
  • Bedroom #3: 12×10 (second floor)
  • Den: 12×11 (second floor)

Are Renovators Good for the Housing Market? 130 N. Garland in the Loop

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This 2-bedroom in the Heritage at 130 N. Garland across from Millennium Park in the Loop just came on the market.

But some of you who have been looking in the Loop might recognize it as it was on the market in the spring.

Apparently, it was bank owned and for sale via auction.

It sold in April 2016 and is now back on the market completely renovated.

This unit used to be a 3-bedroom but the walls for the third bedroom were removed to make an expansive living room.

There are new hardwood floors throughout.

There’s also new LED recessed lighting.

The kitchen has new Italian modern cabinetry and Viking appliances.

The bathrooms have been updated with marble.

It has east facing views along with central air and washer/dryer in the unit.

Deeded parking is available for $50,000 extra.

This unit was originally listed by the bank in February 2016 at $865,000.

It sold at an auction in April 2016 for $680,000.

You can see what it looked like at the time of the auction here.

It’s come back on the market listed for $419,000 above the auction sales price, at $1.099 million.

The renovation shows are popular again on various cable stations like HGTV and DIY.

Buyers want “new.”

Are renovators doing a service in this tight housing market by upgrading the housing stock?

And will this renovator get the premium on this unit?

Robert White at Conlon has the listing. It is agent owned. See the pictures here.

Unit #3803: 2 bedrooms, 2.5 baths, 1758 square feet

  • Sold in July 2005 for $1,004,000 (no parking included)
  • Lis pendens foreclosure filed in October 2012
  • Bank owned in October 2013
  • Was originally listed in February 2016 for $865,000
  • Withdrawn
  • Auctioned
  • Sold in April 2016 for $680,000
  • Renovated and now listed for $1.099 million (parking available for $50,000 extra)
  • Assessments of $1042 a month (includes gas, cable, Internet, doorman, pool, lawn care, scavenger, exterior maintenance, snow removal)
  • Taxes of $12,436
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 17×13
  • Bedroom #2: 13×13
  • Living room: 25×28