The Grand Daddy of the Carl Street Studios Still Awaits a Buyer: 155 W. Burton in Old Town

155 w burton 2017 picture

This 3-bedroom duplex in the Carl Street Studios at 155 W. Burton in Old Town recently came on the market again in July 2016.

But it has been on and off the market since 2009.

We first chattered about it in June 2009. You can see our chatter here.

The Carl Street Studios is a unique 15 unit complex built by architect Edgar Miller and Sol Kagen. Originally constructed as a Victorian home and coach house in 1880, it was renovated into the studios in 1927.

There is nothing like it in the city.

This unit is the largest in the complex at 3500 square feet.

It has the original mosaic, stained glass, Art Deco tiles, and carved doors.

The house has parquet floors and carved and painted ceilings.

There are 3 fireplaces.

155 w burton front door

The listing says the house was “modernized” in 2004.

It’s now 13 years later, is that still a new renovation as far as buyers are concerned?

The kitchen has wood cabinets and stainless steel appliances.

There’s a private rooftop deck and space pak cooling.

The complex doesn’t have parking although the listing seems to indicate it includes parking.

In years past, there was the option to rent 2-car parking for around $420 a month nearby.

Also in prior listings, this unit was much larger, at 5,000 square feet. But this go-around, they have stripped out the 745 studio that is available to also purchase.

It was also listed at $3.1 million in 2009, but, again, that appears to include the studio, which is Studio #7.

Back in our 2009 chatter, some of you said it was the type of property that would either sell in a week or would still be on the market 5 years later.

The property is now listed at $1.6 million, without Studio #7.

With the luxury market the best since 2007, will this unique home finally find a new buyer?

Linda Shaughnessy at Jameson Sotheby’s has the listing. See the pictures here.

Unit #2: 3 bedrooms, 2.5 baths, 3500 square feet

  • Sold in March 2003 for $1.8 million (included #2 and #7)
  • Listed in June 2009 for $3.1 million (included #2 and #7)
  • Reduced
  • On and off the market over the years
  • Re-listed in July 2016 for $1.6 million (only includes #2)
  • Assessments of $2548 a month (they were $3578 a month in 2009 with #7)- includes heat, exterior maintenance, lawn care, scavenger
  • Taxes of $27,284 (they were $29,704 in 2009 which included #7)
  • Space Pak cooling
  • Parking? (was rental in prior listings for $420 a month for 2 spots)
  • 3 fireplaces
  • Rooftop deck
  • Bedroom #1: 13×23 (second floor)
  • Bedroom #2: 13×18 (second floor)
  • Bedroom #3: 8×12 (second floor)
  • Breakfast room: 19×10 (second floor)

 

 

Do You Love Tall Ceilings? A 2-Bedroom Penthouse Loft at 70 E. 18th in the South Loop

70 e 18th

This 2-bedroom penthouse loft in the Casablanca Lofts at 70 E. 18th in the South Loop just came on the market.

The building was converted to lofts in 2005 and has 17 units and garage parking.

This loft has 18-foot ceilings with large, sunny south facing windows.

The living room is open to the second level, which has a den and loft that overlook the lower level.

Both bedrooms are also on the second level (and I’m not sure they have windows. Thoughts?)

The kitchen has 42″ cherry cabinets, granite counter tops and stainless steel appliances.

There are marble baths.

This loft has a tidbit of exposed brick on one wall and exposed ductwork. Otherwise, it doesn’t have any authentic loft features.

The unit has the other features buyers look for including central air, washer/dryer in the unit and garage parking is available for $25,000.

What would you do with those loft spaces that are off the bedrooms? It is unique space.

This unit hasn’t been sold in 11 years.

Will long time South Loop owners finally start listing en mass now that the market has recovered?

Kimberly Smith at Re/Max Vision 212 has the listing. See the pictures here.

Unit #4D: 2 bedrooms, 2 baths, duplex, 1700 square feet

  • Sold in April 2006 for $497,500
  • Currently listed for $479,000 (parking is $25,000 extra)
  • Assessments of $454 a month (includes cable, exterior maintenance and scavenger)
  • Taxes of $6782
  • Central Air
  • Washer/Dryer in the unit
  • Fireplace
  • Bedroom #1: 16×12
  • Bedroom #2: 15×13
  • Loft: 12×3
  • Den: 24×11

 

 

After $271,000 Reduction, Will This West Lakeview 2-Bedroom Finally Sell? 1348 W. Wellington

1348 w wellington

This top floor 2-bedroom in a vintage greystone at 1348 W. Wellington in Lakeview originally came on the market in August 2016.

It may look familiar to some of you because we chattered about it when it was first listed. You can see our chatter here.

If you remember, the greystone was built in 1878. The original listing said it was originally a mansion for a local physician.

The house now has 4 condo units.

It’s also next door to the funeral home which is being turned into retail/restaurant space and apartments at the corner of the Southport/Lincoln/Wellington intersection.

Unfortunately, none of the vintage features of the building survived in this unit.

It does have high ceilings and hardwood floors.

The master bedroom has an ensuite bathroom.

The kitchen has light wood cabinets, granite counter tops and stainless steel appliances.

You may also recall that there’s a new private roof deck with city views with an entry where you open the hatch on the roof to access it. We had a lot of discussion of what it meant to have that hatch in the prior chatter.

Interestingly, in this new listing, there are no pictures of the hatch entry.

This unit has the other features buyers are looking for including central air, garage parking and washer/dryer in the unit in its very own separate laundry room.

The unit came on the market at $785,000 in August 2016 and has been reduced several times.

The price has now been cut $271,000 to $514,000.

After spending nearly a year sitting on the market, is this finally priced right to sell?

Daniel Sullivan at Coldwell Banker now has the listing. See the pictures here.

Unit #3: 2 bedrooms, 2 baths, no square footage listed

  • Sold in April 1999 for $284,000
  • Was listed in August 2016 for $785,000 (included garage parking)
  • Reduced
  • Was listed in March 2017 at $624,900
  • Reduced
  • Currently listed at $514,000 (includes the parking)
  • Assessments are still $239 a month (includes exterior maintenance)
  • Taxes are still $6315
  • Central Air
  • Washer/Dryer in the unit
  • Private rooftop deck
  • Bedroom #1: 13×13
  • Bedroom #2: 10×10
  • Living room/dining room: 24×27
  • Kitchen: 13×11
  • Laundry room: 9×7

Now’s Your Chance to Own a Corner 2-Bedroom in the Brewster: 2800 N. Pine Grove

2800 n pine grove approved

This 2-bedroom at the Brewster at 2800 N. Pine Grove in East Lakeview just came on the market.

The Brewster is a historic building that was constructed in 1893 and has 94 units but no parking.

The interiors have been used as movie sets on several films.

This is a northeast corner unit with rounded windows in the dining nook.

The two bedrooms are in the preferred split floorplan.

It still has many of its vintage features including restored woodwork, 10 foot ceilings, oversized windows, and a wood burning fireplace along with exposed brick.

The kitchen has maple cabinets and stainless steel appliances.

There are window a/c units and coin laundry in the building.

There’s also a part-time doorman.

If you like painted woodwork, Unit #1K is also on the market (minus the dining nook.) It is listed for $235,000.

The #1K listing says that unit was rented for $2,000 a month.

You can see those pictures here.

Is this a good starter condo for a first time buyer in this trendy neighborhood?

Lee Cherney at @Properties has the listing. See the pictures here.

Unit #6K: 2 bedrooms, 1 bath, no square footage listed

  • Sold in April 1992 for $80,000
  • Sold in January 2004 for $207,000
  • Sold in July 2004 for $216,500
  • Sold in July 2008 for $260,000
  • Currently listed for $249,900
  • Assessments of $411 a month (includes doorman, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $3465
  • No central air- only window units
  • No laundry in the unit (coin laundry only)
  • No parking
  • Wood burning fireplace
  • Bedroom #1: 13×11
  • Bedroom #2: 12×11
  • Living room: 16×16
  • Kitchen: 8×6

 

A 1980s Townhouse With Savoir Faire: A 3-Bedroom at 1300 N. LaSalle in Old Town

1300 n lasalle

This 3-bedroom townhouse at Goethe Row at 1300 N. LaSalle in Old Town came on the market in May 2017.

Built in 1980, the listing says it was designed by architect Marcel Freides and has 7 units with parking.

The listing also says the association is applying for architectural landmark status for the complex.

It has many unique features including retro exposed brick walls, various skylights, and round windows.

There are natural stained wood floors and a wood burning fireplace.

One bedroom is on the second floor, with a den, with two other bedrooms on the third floor.

There is a master suite and all bathrooms have Duravit vanities and toilets, with Groehe and Hansgrohe faucets.

The kitchen has Gaggenau appliances, a Subzero refrigerator and custom flat panel modern cabinets.

There’s a brick fenced in private patio off the living room.

It has central air and two car parking.

Originally listed at $1,149,900 in May, it has been reduced $50,000 to $1,099,900.

Is this townhouse a nice alternative for buyers who still want character but don’t want the maintenance of a house?

Danielle Dowell at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Or go to the Open House on Sunday, July 16 from 12-2 PM.

Unit #F: 3 bedrooms, 2.5 baths, 3000 square feet

  • Sold in November 1998 for $480,000
  • Sold in December 2012 for $775,000
  • Originally listed in May 2017 for $1,149,900
  • Reduced
  • Currently listed at $1,099,900
  • Assessments of $340 a month (includes scavenger and exterior maintenance)
  • Taxes of $14,179
  • Central Air
  • 2-car garage parking included
  • Wood burning fireplace
  • Bedroom #1: 17×15 (second floor)
  • Bedroom #2: 17×12 (second floor)
  • Bedroom #3: 16×12 (third floor)
  • Den: 12×11 (second floor)
  • Brick patio: 18×16

 

Now’s Your Chance for a Rare Large Crilly Court 1-Bedroom: 208 W. Eugenie in Old Town

1708 n wells

This 1-bedroom in Crilly Court at 208 W. Eugenie in Old Town recently came on the market.

If you’ll recall, Crilly Court is the historic complex of buildings which borders Wells, Crilly, St. Paul and Eugenie. It has 90 units and was converted from apartments to condos just as the bust hit in 2007.

But given its location, this complex has almost always been popular with buyers.

This 971 square foot 1-bedroom is unique for the complex.

Not only is it larger than most of the other 1-bedroom units, but it has 2 doors in which to access the unit: one that leads out to Eugenie and a second that goes out to the courtyard.

Because of its location in the building, it doesn’t have a balcony.

The eat-in kitchen has dark wood cabinets, granite counter tops and stainless steel appliances.

According to the listing there is a “marble finished” bathroom.

It also says there is a unique storage pantry behind the kitchen.

This unit comes with a deeded 8×4 storage unit but no parking.

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

Listed at $425,000, which is similar to the price for some 2/2s in the neighborhood, will the prestige and popularity of Crilly Court carry the day?

Crilly Court sign July 2017

Matt Shamis at Advantage Properties has the listing. See the pictures here.

Unit #1: 1 bedroom, 1 bath, 971 square feet

  • Sold in November 2007 for $315,500 (included the deeded storage unit)
  • Currently listed for $425,000 (includes the deeded storage unit)
  • Assessments of $333 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $5381
  • Central Air
  • Washer/Dryer in the unit
  • No parking
  • Bedroom: 11×10

 

Market Conditions: Is a Glut Building in the Chicago Luxury Housing Market?

Luxury home sales were hot in the first half of 2017.

This shouldn’t be surprising as the stock market continued to hit new all time highs. Usually, new highs in the stock market equals strong luxury home sales.

From Crain’s:

Sales of high-end homes in Chicago and the suburbs grew sharply in the first half of the year, far outpacing the growth in the market overall.

“It looks to me like people are feeling better this year with the economy chugging along, and they’re willing to spend money on a nice house,” said Kim Kelley, an @properties agent on the North Shore whose clients bought a house in Glencoe for more than $5.1 million in April.

In the six-county area, 1,347 homes sold for $1 million or more in the first six months of the year, according to Midwest Real Estate Data. That’s up nearly 13.4 percent from the first half of 2016.

But now, there are more million dollar homes and condos than ever before.

Two of the largest condo buildings under construction in the city, the Vista and One Bennett Park, will, combined, add another 475 condos priced over $1 million to the inventory.

But it’s not just condos.

In the GreenZone, plenty of million dollar homes are going up in addition to re-sales.

“There are 14 homes for sale at $5 million or more in Lincoln Park, and there’s only been one sale” at that level, said Jennifer Ames, a Coldwell Banker agent. She represented buyers who made the last big-dollar deal of the year’s first half, paying $4.9 million last week for a six-bedroom, 7,000-square-foot home on Dickens Avenue in Lincoln Park.

In the Gold Coast, where two homes have sold for $4 million or more so far this year, there were 19 at $4 million and up on the market as of yesterday. There’s oversupply in Lakeview, too, though it’s not quite so lopsided. In the first half of the year, 83 homes in the neighborhood sold for $1 million or more, but 111 homes are listed in the $1 million to $2 million range.

Last year, Lincoln Park had three sales at $5 million and up in the first half, compared to just one this year, Ames pointed out. Some high-end listings “go weeks without a showing,” she said.

Baird & Warner agent Marissa Schaefer says she sees a pattern to what isn’t selling: “So many of them look the same,” Schaefer said. At the price, and with so much competition, she said, buyers expect to land a home “that really stands apart architecturally.”

Anyone who has walked around Lakeview over the last 3 years has seen dozens of new construction homes that look like these three.

New construction home on Southport 2014

New construction home on Barry 2014

New construction home on Melrose 2014

All of these were priced over $1 million.

Are we about to have a glut problem in the luxury market?

Luxury home sales surge in first half- but prices slip [Crain’s Chicago Business, Dennis Rodkin, July 6, 2017]

Did Building the Office High Rise Actually Help? A 2/2 at 165 N. Canal in the West Loop

165 n canal from down river 2017

This 2-bedroom at Randolph Place at 165 N. Canal in the West Loop (yes- this is west of the river so it is technically in the West Loop) came on the market in April 2017.

Randolph Place is a big brick industrial building with 341 units and a heated parking garage on the River.

This is an east facing unit, which used to have a direct Chicago River view until the office building was constructed directly in front of it.

Now it has some indirect views of the river as well as a view of the new 150 N. Riverside Park which was built over the train tracks which used to be directly next to this building (in between the building and the River.)

Now, there’s no more pollution or noise from the trains but there’s green grass and trees (see the picture in the listing).

These lofts do not have any authentic loft features (no timber or exposed brick) but they do have high ceilings and big windows.

The two bedrooms in this unit, however, don’t have windows as they are interior rooms (see the floor plan with the listing.)

The kitchen has granite counter tops, stainless steel appliances and a custom backsplash.

The loft has an entry foyer, central air, washer/dryer in the unit and an east facing balcony.

Parking in the heated garage is $30,000 extra.

There were a lot of worries over what would be built on the land next to this building and the river over the years. Ideas of a hotel and another condo building were floated before the office building was constructed.

It’s unique design has already made it famous among architect lovers.

Has the new office building and park next door actually enhanced the value of these lofts?

Jodi Slutzky at @Properties has the listing. See the pictures here.

Unit #514: 2 bedrooms, 2 baths, 1700 square feet

  • Sold in March 1999 for $259,000 (no parking included)
  • Sold in February 2002 for $330,000 (no parking included)
  • Sold in January 2004 for $430,000 (parking included)
  • Bank owned in 2006
  • Sold in March 2008 with the parking but no price recorded in Recorder of Deeds
  • Originally listed in April 2017 for $469,000
  • Reduced
  • Currently listed at $467,000 (plus $30,000 for parking)
  • Assessments of $738 a month (includes cable, Internet, doorman, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $7003
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×12
  • Bedroom #2: 13×9

 

 

A $2.34 Million Loft Lovers Dream in the Heart of the Loop: 223 W. Lake

223 w lake building

8 newly converted lofts in an old industrial building at 223 W. Lake in the Loop recently came on the market.

The listing says this building was constructed in 1895.

These units have all the features that loft lovers look for including tall reclaimed wood ceilings, exposed brick walls and iron and glass double paned window as the El line runs right in front of the building.

These lofts are all 3 bedroom, 3.5 baths. There are 2 units per floor, one facing north (towards the El) and one facing south (towards office buildings).

The 2 penthouse units each have private rooftop terraces.

They have chef kitchens with white modern cabinets and stainless steel appliances.

The bathrooms are also in the modern style.

There are light wood floors throughout.

From pictures and the 3D tours, it appears that each of the bedrooms have windows, although it looks like they are all frosted for privacy.

Each loft has a private elevator entry. The building has a heated garage but no doorman.

This block of Lake contains several historic brick buildings, including one with a Chipotle on the first floor, as well as Monk’s Pub, one of the oldest restaurants in the loop.

223 w lake monks pub

Next door is a new construction luxury apartment tower called Linea which is now leasing.

The first floor of this building looks like it’s retail space which is available for lease.

The prices for these lofts range from $1.48 million for a unit on the second floor to $2.34 million for a penthouse.

At that price point, these lofts would be among the most expensive ever in the loop.

Who is the target buyer for this product in this location?

Will the developer get these prices?

223 w lake front door

Helaine Cohen at Berkshire Hathaway KoenigRubloff is handling all the listings. You can see pictures of the penthouse here.

Or you can see the 3D tour with floor plan here.

PH-N: 3 bedrooms, 3.5 baths, 2718 square feet

  • New construction
  • Currently listed at $2.34 million
  • Assessments of $679 a month (includes heat, A/C, scavenger, exterior maintenance and snow removal)
  • Taxes are “new”
  • 1 car heated garage included
  • Bedroom #1: 36×14
  • Bedroom #2: 26×14
  • Bedroom #3: 26×10
  • Rooftop Deck: 35×19

A 3-Bedroom Loft in Hot Wicker Park for $525,000: 1400 N. Milwaukee

1400 n milwaukee

This 3-bedroom loft in the Indigo Lofts at 1400 N. Milwaukee in the Wicker Park/Bucktown corridor recently came on the market.

The Indigo Lofts has 21 units and a heated garage. It was converted in 2001.

This loft has 12 foot ceilings and authentic loft features of exposed brick and ductwork.

The listing for this unit says it has $50,000 in upgrades including new soundproof windows and patio door (as the El runs directly next to this building).

The loft has south and east exposures.

It has dark diagonal hardwood floors and a barn door leading to one of the bedrooms.

It appears that 2 of the 3 bedrooms have windows and they all have floor-to-ceiling walls.

There is a master suite with a remodeled master bathroom with a white quartz double sink.

The loft also has a new stone fireplace.

The kitchen has dark wood cabinets, stainless steel appliances, granite counter tops and a breakfast bar.

This loft has all the features buyers look for including central air, washer/dryer in the unit and heated garage parking is included.

This building is right in the middle of all the shops and restaurants of Wicker Park and Bucktown and is within walking distance of 2 blue line stops.

It has come on the market for $100,000 more than the 2015 sales price, at $525,000.

Three bedrooms have been the hottest type of condo.

Will the 3-bedrooms and the neighborhood make this a quick sale?

Laura Meier at @Properties has the listing. See the pictures here.

Unit #205: 3 bedrooms, 2 baths, 1400 square feet

  • Sold in November 2001 for $303,000
  • Sold in March 2004 for $342,000
  • Sold in June 2007 for $401,500
  • Sold in April 2015 for $425,000
  • Currently on the market for $525,000 (includes garage parking)
  • Assessments of $501 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $5466
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×11
  • Bedroom #2: 11×9
  • Bedroom #3: 10×10