Crib Chatter

This 2-bedroom in The New York Private Residences at 3660 N. Lake Shore Drive in East Lakeview came on the market in October 2023.

Built in 1987, the New York Private Residences was originally an apartment building. It has 594 units and attached garage parking. It was converted into condos in 2000.

It’s a full amenity building with 24 hour door and maintenance staff, on-site management, a roof deck with city and lake views, a roof top party room, a game room, bike room, a convenience store and a FFC gym on site.

This unit is on the 42nd floor, which is a penthouse level. The listing says units on the penthouse levels, above the 40th floor, rarely come on the market.

It has been “beautifully renovated” and has hardwood floors throughout.

Both bathrooms have been “upgraded” with natural stone, glass and ceramic and have Kohler systems.

The kitchen has new tall crisp white shaker cabinets, Carrera quartz countertops with a breakfast bar, a glass backsplash and stainless steel appliances.

The listing says the primary bedroom fits a king bed, has a walk-in-closet and an en suite bathroom with a walk-in-shower.

There is an Elfa closet system and quartz window ledges.

The unit has “never to be obstructed” views of the Lake, harbor and city.

It also has two balconies with lake views, including one from the second bedroom.

The unit has some of the features buyers look for including central air and deeded parking and storage are included. However, there is no washer/dryer in the unit but the listing indicated that a washer/dryer is permitted in this floor plan.

The listing says the building has $2.4 million in reserves, with no specials pending or planned.

This building is near the shops and restaurants of East Lakeview and Uptown and is across the street from the Marovitz Golf Course and the Bill Jarvis Migratory Bird Sanctuary. There are numerous bus lines and public transportation nearby.

Listed at $548,000, that’s $135,500 above the 2019 sales price of $412,500.

Buyers love “new.”

Will these sellers get their price?

Cathryn Browne at CB Real Estate has the listing. See the pictures and floor plan here.

Unit #4202: 2 bedrooms, 2 baths, no square footage listed, penthouse level

• Sold in December 2000 for $352,500
• Sold in August 2014 for $330,000
• Sold in August 2019 for $412,500
• Currently listed at $548,000
• Assessments of $870 a month (includes heat, a/c, doorman, cable, clubhouse, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $7946
• Central Air
• No washer/dryer in the unit. Coin laundry in the building. Listing says W/D can be added in this floor plan
• Deeded parking and storage included
• Bedroom #1: 12×14
• Bedroom #2: 13×12
• Living room: 17×13
• Dining room: 11×11
• Kitchen: 9×10
• Walk-in-closet: 7×10
• Foyer: 5×12
• Balcony: 6×8
• Balcony: 6×8

This 3-bedroom in 416 W. Deming in East Lincoln Park came on the market in October 2023. (It consists of 2 buildings 416 and 422.)

This building is a Booth Hansen designed complex with 13 units and garage parking.

It has fob access and an elevator. There are no amenities.

This is a full-floor home where the elevator opens into a a private entry foyer.

It has 10 foot ceilings, light oak floors and motorized shades on the 50 feet of south facing windows that overlook the lush gardens across the street at 2550 N. Lakeview.

The listing says this unit has “sophisticated entertaining space” with two seating areas flanking the dining room.

The unit has built-ins, a gas fireplace, a built-in dry bar and separate wet bar along with a beverage refrigerator.

The kitchen is a “chef’s kitchen” with custom white cabinets, a large quartz island with waterfall edge and seating for three, and luxury appliances including Wolf, Bosch and Subzero.

The primary suite has a spa-like bath with heated floors, large steam shower and a double vanity, a walk-in-closet, built-ins and balcony access.

The second bedroom also has access to the balcony and a spa-like bath. The third bedroom is currently being used as an office.

The unit has the features that buyers look for including central air, a washer/dryer in the unit and 2 side-by-side garage parking spaces are included.

There’s a mudroom and storage room with a built-in desk.

It has the Control4 smart home system with built-in speakers.

The building allows pets and up to 2 dogs for each unit.

It is located just steps from Lincoln Park, including the North Pond restaurant. It’s also near the shops and restaurants on Clark and several bus lines.

Listed at $2.5 million, with 3430 square feet, is this condo a single family home alternative?

Emily Sachs Wong and Lisa Madonia at @properties Christie’s have the listing. See the pictures here (sorry, no floor plan).

Unit #3: 3 bedrooms, 3.5 baths, 3430 square feet

• Sold in February 2015 for $1.78 million
• Currently listed at $2.5 million
• Assessments of $1147 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $39,347
• Central Air
• Washer/dryer in the unit
• 2-car side-by-side garage parking
• Gas fireplace
• Control4 smart home
• Bedroom #1: 23×13
• Bedroom #2: 13×19
• Bedroom #3: 10×14
• Living room: 27×20
• Kitchen: 15×16
• Dining room: 13×14
• Family room: 20×15
• Storage: 6×15
• Laundry room: 16×6
• Balcony

This 1-bedroom in the Drake Tower at 179 E. Lake Shore Drive came on the market in October 2023.

Built in 1928, the Drake Tower is a co-op with just 68 units. It shares amenities with the Drake Hotel.

The building has door staff, an exercise room, a private patio for residents and on-site valet parking.

This unit is north facing and has views of the Lake and park from large corner windows.

It has 9’6″ ceilings, wood floors throughout, upgraded additional millwork, linen window treatments and Farrow & Ball paint.

Like many vintage units, it has a foyer and a gallery, but there’s no formal dining room.

The bathroom is en suite to the bedroom and has a double vanity.

The bedroom also has a walk-in-closet.

The kitchen is “updated” and has wood cabinets, what looks like stone counter tops, stainless steel appliances and a breakfast bar with seating for 2.

The unit has space pak cooling and valet parking is available for $100 a month. The listing doesn’t mention in-unit laundry but other units in the building have it in the unit. (Is that laundry in the WIC?)

Drake Tower is on landmarked East Lake Shore Drive. It is near the Mag Mile and all the restaurants and shops of Oak Street, Rush Street and the Gold Coast.

Oak Street Beach is across the street and it’s near several bus lines.

There are 9 units for sale in the building, out of 68 units. This unit is the cheapest 1-bedroom on the market, however, there is a 1530 square foot 2/2 listed for just $209,000 which is now under contract.

The most expensive unit on the market is a 3/3.5 with 3000 square feet which has been featured in Architectural Digest and Chicago design magazines and is listed at $2.299 million.

Listed at $325,000, Redfin says it last sold in 2014 for $420,000.

Is this a deal?

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

Unit #303: 1 bedroom, 1 bath, 1184 square feet, co-op

• Sold in November 2014 for $420,000 (per Redfin)
• Currently listed at $325,000
• Assessments of $2630 a month (includes heat, electric, taxes, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes are included in assessment
• Space pak cooling
• Washer/dryer in the unit??? (unclear)
• On-site valet parking for $100 a month
• Bedroom: 13×16 (going off the floor plan)
• Living/dining combo: 19×20
• Kitchen: 7×14 (going off the floor plan)
• Gallery: 6×14
• Foyer: 7×5
• Walk-in-closet: 8×7

This 3-bedroom in 415 W. Aldine in East Lakeview came on the market in October 2023.

Built in 1926, 415 W. Aldine has 60 units and some parking which is leased through a lottery.

It has a party room, children’s playroom, bike room, library, live-in engineer and coin laundry. The building also has a landscaped side yard with bistro seating and stone benches.

This unit has a semi-private entrance with 2 units per elevator bank.

It has pre-war vintage features like a foyer/gallery with a barrel vaulted ceiling, high ceilings and crown molding.

The unit has north and east views, including views of Lake Michigan and Belmont Harbor from the primary suite, and blonde oak hardwood floors.

It has a formal dining room.

There are custom designed bookshelves in the living room.

The chef’s kitchen has red and gray cabinets, a Viking 6-burner stove, granite counter tops, a new sink and Whirlpool refrigerator. It also has a butler’s pantry with white cabinets.

The primary bedroom and the smallest, third bedroom, have en suite bathrooms.

The unit does not have a washer/dryer in the unit nor central air. There are window units for cooling.

There is rental parking in the neighborhood and leased parking in the building is done through lottery.

This unit also has a 9x9x9 storage unit in the basement.

This building is near Nettelhorst and Our Lady of Mt Carmel Academy as well as the shops and restaurants in East Lakeview. It’s near numerous bus lines.

Listed at $425,000, that’s just $5,000 above the housing bubble price in 2007 of $420,000.

Is this a deal now for a 3/3 with 2200 square feet in this neighborhood?

Ellen Miller at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #6B: 3 bedrooms, 3 baths, 2200 square feet

• Sold in October 1988 for $145,000
• Sold in February 1991 for $190,000
• Sold in April 1999 for $223,000
• Sold in July 2007 for $420,000
• Currently listed at $425,000
• Assessments of $1461 a month (heat, cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $7078
• No central air. Window units.
• No washer/dryer in the unit
• No parking. Rental in the neighborhood.
• Bedroom #1: 15×13
• Bedroom #2: 16×12
• Bedroom #3: 12×9
• Kitchen: 14×8
• Living room: 23×15
• Dining room: 20×14
• Foyer: 17×8

It’s time for a break so I’m taking off until Oct 16. Since it’s hurricane season, I will not be in the Caribbean on a beach this time. Alas.

But it’s a big world, so I’m going out to explore it.

Please be nice to each other while I’m gone.

This is a really interesting housing market. We’ll be chattering about it when I get back. Fingers crossed that more properties come on the market, though. It is slim pickings.

Sabrina

This top floor 2-bedroom at 2452 N. Racine in Lincoln Park came on the market in September 2023. (I don’t have a picture of this building so we will make do with the Zoo.)

Built in 1910, this building has 6 units and parking behind the building, including some garage parking.

There is a turfed common yard with a firepit and dog run.

The listing says this unit has had modern updates and tons of charm.

It has an updated kitchen with white cabinets, a white subway tile backsplash, a white farmhouse sink, quartz counter tops, a breakfast bar with seating, stainless steel appliances and a Chicago brick floor.

The kitchen is open to the dining room which has vintage features such as a beamed ceiling and built-in buffet all of which has been painted white. If you have Redfin, you can see what it looked like unpainted in the 2013 pictures. The unit was updated before the 2021 sale.

Both rooms lead to an oversized private enclosed west facing balcony.

The living room has an ornamental fireplace and custom oak mantle.

It has one bathroom with a walk-in-shower.

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

There have been a lot of updates: water heater (2019); roof (2020); windows (2017); tuckpointing (2018); turf and fence (2019); garage concrete (2022).

The building is just “minutes to the Brown Line, Wiggly Field dog park, JonQuill Park, Supera Park, Depaul University, Starbucks, Lincoln Park Library, Lou Malnatis, Avli Taverna, Birds Nest, and many bars and shops!”

The listing says it’s 1.5 miles from the Lake.

The building is also “investor friendly” but does not allow short-term-rentals. There is a storage space in the basement.

This unit last sold just 2 years ago, in April 2021, for $467,000. It’s now listed for $515,000.

With low inventory still the norm, are rising prices here to stay?

Marzena Frausto at Redfin has the listing. See the pictures, floor plan and 3D walk-through here.

Unit #3N: 2 bedrooms, 1 bath, 1200 square feet

• Sold in June 1991 for $157,000
• Sold in February 1994 for $171,000
• Sold in July 1997 for $196,000
• Sold in February 2013 for $280,000
• Sold in April 2021 for $467,000
• Originally listed in September 2023 for $515,000
• Still listed at $515,000
• Assessments of $380 a month (includes heat, exterior maintenance, scavenger, snow removal)
• Taxes of $7575
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Decorative fireplace
• Bedroom #1: 10×12
• Bedroom #2: 11×12
• Living room: 17×15
• Dining room: 15×9
• Kitchen: 17×10
• Storage: 7×7
• Balcony: 11×13

This 2-bedroom in the Green Brier at 559 W. Surf in East Lakeview came on the market in October 2023.

Built in 1903, the building has 78 units and parking. Some listings say it is indoor and others say it is outdoors.

In prior chatters, the building had a doorman but it isn’t listed in the HOA on this unit. Did they get rid of door staff or was it wrong in prior chatters?

The only building amenity appears to be a bike room.

This unit has many of its vintage features including pocket doors, crown molding and massive wood moldings (some of which have been painted white).

There’s a vintage fireplace in the living room.

It has a foyer and hardwood floors throughout.

There’s no separate dining room as you would usually see in vintage units but there is a dining space in the kitchen.

The south facing kitchen has two big windows, 42 inch wood cabinets, granite counter tops and stainless steel appliances.

The listing says it has a “unique” second entrance which can be made into a home office space.

The unit has the features buyers look for including central air, a “new” washer/dryer in the unit and a covered, deeded garage spot with a storage locker.

It also has a “newer” hot water heater and furnace and “countless updates.”

This building is in a prime East Lakeview location near Mariano’s, Trader Joe’s, shops, restaurants, Starbucks, the Landmark movie theater and everything else East Lakeview has to offer. There are numerous bus routes nearby.

Listed at $480,000, will the sellers get their price even with mortgage rates nearly at 8%?

Francesco Angileri and Savina Angileri at Coldwell Banker have the listing. See the pictures and floor plan here.

Unit #507: 2 bedrooms, 1.5 baths, 1500 square feet

• Sold in April 1992 for $150,500
• Sold in October 1997 for $187,500
• Sold in November 1999 for $258,000
• Sold in September 2018 for $325,000
• Currently listed at $480,000
• Assessments of $967 a month (includes cable, parking, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $6971
• Central Air
• Washer/dryer in the unit
• Deeded covered garage parking included
• Fireplace
• Bedroom #1: 18×13
• Bedroom #2: 15×14
• Living room: 20×18
• Dining room: 16×8
• Kitchen: 12×10
• Foyer: 7×9
• Laundry: 7×7

This 1-bedroom loft in Morgan Town Lofts at 22 N. Morgan in the West Loop came on the market in September 2023.

Morgan Town Lofts have 26 units around a central courtyard. The listing says it was built in 1942, but that’s the first time I’ve seen a date on this brick building.

It doesn’t have any amenities but it does have parking.

The listing calls Morgan Town Lofts an “oasis-like loft community” within a secret courtyard with a “true urban jungle feel.”

This is a top floor brick and timber authentic loft with a wall of windows and both east and west exposures. It has timber ceilings and exposed duct work.

It has it’s own separate entrance in the courtyard.

The living/dining and living rooms are all in one big great room as you would find in an authentic loft. It appears to have hardwood floors in this room.

There’s a stacked stone wood burning fireplace in the living room.

The kitchen is “white-on-white” with a “mile long” island and stainless steel appliances.

There’s a fully enclosed bedroom with a “feeling of serenity” as it overlooks the jungle courtyard.

There’s one bathroom with a tub.

The loft has an interior staircase which leads to a private rooftop deck with city views.

This loft has the features buyers look for including central air, washer/dryer in the unit and one exterior parking space which is included in the price.

This building is near the shops and restaurants of the West Loop and Fulton Market, including Randolph, Madison and Fulton street.

The loft hasn’t changed hands since 2010.

Listed in September 2023 at $399,000, are large 1-bedrooms in demand in this neighborhood?

Trisha San Juan at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #210: 1 bedroom, 1 bath, 1265 square feet, loft

• Sold in December 2000 for $275,000
• Sold in December 2002 for $257,000
• Sold in April 2010 for $283,500
• Originally listed in September 2023 for $399,000
• Currently still listed at $399,000
• Assessments of $493 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7948
• Central Air
• Washer/dryer in the unit
• Parking space included
• Wood burning fireplace
• Bedroom: 11×14
• Living/dining combo: 16×25
• Kitchen: 8×14
• Deck: 21×19 (rooftop)

This 4-bedroom in the John Hancock at 175 E. Delaware in the Gold Coast came on the market in June 2023 but it was recently re-listed.

And yes, I’m still calling 175 E. Delaware the John Hancock until a new company puts its name on the building.

The Hancock was built in 1969 and has 703 units and attached rental parking. It’s one of America’s most iconic condo buildings and, supposedly, offers the tallest residential homes in the world.

The building has 24/7 door staff, on-site maintenance and engineering, a fitness center, indoor pool, a grocery store, multiple party rooms and the sky lobby.

This corner unit is 3 combined units which total 4200 square feet. I’m not sure on the exposures.

The listing says it was “completely rehabbed in 2019.”

It has bamboo, ceramic and marble floors throughout.

It’s also a smart home with a complete Control4 Tech system. The shades can be open at sunrise, coffee made for you at 7 am and your favorite music playing for you in any room you choose through invisible speakers in the ceiling.

The kitchen is open to the living and dining rooms and has modern white and gray cabinets, an island with seating for four, luxury appliances including a Miele stove, Subzero and Zephyr oven along with a wine fridge as well as a separate breakfast room.

The primary suite is an actual suite with a huge walk-in-closet with a window, and an en suite bath with a tub and walk-in-shower, along with an office area with its own kitchen.

There are Studio 41 designed spa-like bathrooms, some with bathtubs.

It has 5 flat screen televisions.

The listing says even the laundry room will “leave you speechless” with custom cabinets, shelving and new appliances, however, there isn’t a picture in the listing. I also watched the video (recommend) and looked on the 3D walkthrough, all to no avail.

The unit does not have central air, but it has wall units. It also doesn’t have deeded parking but it is available for rent in the building.

This building is near all of the amenities Chicago offers including Oak Street Beach, the Mag Mile and Oak Street shopping, restaurants, grocery stores, theaters and museums.

Listed at $2.449 million, and at 4200 square feet with 4 true bedrooms, is this a single family home alternative for a family?

And at this price, is it a deal?

Camie Cirrincione at Redfin has the listing. See the pictures, floor plan, 3D Walkthrough and video here.

Unit #7508: 4 bedrooms, 4.5 baths, 4200 square feet

• Sold in March 2010 for $1 million (not sure if this is all three PINs or not)
• Sold in July 2014 for $1,275,500 (not sure if this is all three PINS or not)
• Originally listed in June 2023 for $2.45 million
• Reduced
• Currently listed at $2.449 million 
• Assessments of $3998 a month (includes security, doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $30,253
• No central air. Wall units.
• Washer/dryer in the unit
• Rental parking available
• Smart home with Control4 Tech system
• Bedroom #1: 16×25
• Bedroom #2: 12×17
• Bedroom #3: 12×17
• Bedroom #4: 20×19
• Dining room: 21×21
• Living room: 18×25
• Kitchen: 13×17
• Breakfast nook: 14×21
• Walk-in-closet: 11×20
• Laundry room: 8×10
• Office: 14×10

The Illinois Association of Realtors is out with the August data. August was before the rates spiked to 20+ year highs but rates were still over 7% in the month.

It was still the lowest August since 2011, which was during the housing bust.

From the IAR:

The city of Chicago saw a 7 percent year-over-year home sales decrease in August 2023 with 2,189 sales, down from 2,354 in August 2022.

The median price of a home in the city of Chicago in August 2023 was $330,000, up 4.8 percent compared to August 2022 when it was $315,000.

August sales since 2007:

• August 2007: 2923 sales
• August 2008: 2078 sales
• August 2009: 1927 sales
• August 2010: 1486 sales
• August 2011: 1787 sales
• August 2012: 2209 sales
• August 2013: 2850 sales
• August 2014: 2414 sales
• August 2015: 2701 sales
• August 2016: 2844 sales
• August 2017: 2791 sales
• August 2018: 2754 sales
• August 2019: 2601 sales
• August 2020: 2870 sales
• August 2021: 2919 sales 
• August 2022: 2354 sales
• August 2023: 2189 sales

August Median Sales Price

• August 2007: $305,000
• August 2008: $297,500
• August 2009: $229,900
• August 2010: $200,000
• August 2011: $192,500
• August 2012: $200,000
• August 2013: $245,000
• August 2014: $269,500
• August 2015: $271,000
• August 2016: $271,000
• August 2017: $284,000
• August 2018: $280,000
• August 2019: $289,900
• August 2020: $335,000
• August 2021: $335,000
• August 2022: $315,000
• August 2023: $330,000

“In August, we saw signs that demand is increasing in the city, with only a slight decline in closed sales and a slight increase in median sale price,” said Sarah Ware, president of the Chicago Association of REALTORS® and principal and designated managing broker for Ware Realty Group in Chicago.

Statewide, the number of days on the market was unchanged from last year at 23 days. In Chicago, the days on the market fell 1 day to 27 from 28 days last year.

Inventory continues to plunge statewide and in the city.

Statewide Inventory:

• 34,083 in August 2021
• 29,084 in August 2022
• 20,082 in August 2023 (down 31% year-over-year)

Chicago Inventory:

• 9,231 in August 2021
• 7,999 in August 2022
• 5,530 in August 2023 (down 30.9% year-over-year)

“Although prices declined in August in both Illinois and the Chicago area, they remain much higher than at this time last year,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate (SHDRE) at the University of Illinois at Chicago College of Business Administration.

“Our forecasts indicate that prices will continue to their usual seasonal decline over the next three months, while remaining higher than at this time last year. The number of sales remains low and is forecast to decline further over the next three months.”

The average 30-year fixed rate mortgage was 7.07% in the month up from 6.84% in July 2023 and up from 5.22% in August 2022. Remember when we thought 5.2% was “high”?

Inventory both in Chicago, and statewide, has been dropping for 2 years.

Is the low inventory the only thing keeping prices elevated? And when will it end?

Illinois home sales dipped while median prices rose in August [Illinois Association of Realtors, Press Release, by Bill Kozar, September 21, 2023]