2 Years Later, Our Favorite Lincoln Park Coach House Reduces Under $300K: 2011 N. Kenmore

We’ve chattered about this 1-bedroom coach house at 2011 N. Kenmore in Lincoln Park several times over the last year.

See our December 2011 chatter here.

Until March 2012, the price hadn’t seen a reduction in a year. The sellers were sticking with $315,000.

In December, most of you thought it had to be listed under $300,000.

It has now been reduced and is priced at $285,000.

If you recall, it is a duplex loft-like unit with skylights, exposed brick and exposed pinewood ceilings.

The kitchen is newer and has white cabinets, stainless steel appliances and black limestone countertops.

The listing says a new half bath was added and that the master bathroom has been completely renovated with a new rain shower.

Last year, the Groove thought it was one of the “coolest quirkiest listings on cribchatter” and he especially liked its Battlestar Galactica vibe.

It has central air but no parking. The garage in the picture is for the building on the other side of the coach house.

Is this property finally priced to sell?

Jennifer Mills at Koenig & Strey Real Living now has the listing. See the pictures and a virtual tour here.

2011 N. Kenmore: 1 bedroom, 1.5 baths, no square footage listed

  • Sold in June 2000 for $169,000
  • Sold in July 2003 for $241,000
  • Sold in May 2007 for $295,000
  • Was listed in March 2010 for $349,000
  • Reduced
  • Had been listed for $315,000 since March 2011
  • Reduced to $309,900 in March 2012
  • Reduced
  • Currently listed at $285,000
  • Assessments of $110 a month
  • Taxes of $3358
  • Central Air
  • Washer/Dryer
  • No parking
  • Bedroom: 21×18
  • Living room: 24×13
  • Kitchen: 13×9

23% Off the 2008 Price for This Gold Coast 2-Bedroom: 1427 N. Dearborn

This 2-bedroom in the Cordova at 1427 N. Dearborn in the Gold Coast has been on and off the market since July 2010.

It recently came back on the market significantly reduced from its prior list price.

The third floor vintage unit has 1700 square feet and some of its vintage features like a wood burning fireplace.

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

The listing says there are “upgraded bathrooms.”

It has central air and a washer/dryer in the unit but no deeded parking. Parking is available next door for $275 a month.

The unit is now priced about 23% under the 2008 purchase price at $485,000.

That’s nearly at the 2002 price of $463,000.

Is this a deal?

Lauren Leonardi at @Properties has the listing. See the pictures here.

Unit #3S: 2 bedrooms, 2 baths, 1700 square feet

  • Sold in July 1999 for $390,000
  • Sold in April 2002 for $463,000
  • Sold in June 2005 for $617,500
  • Sold in June 2008 for $635,000
  • Originally listed in July 2010 for $659,000
  • Reduced
  • Was listed in June 2011 at $626,000
  • Withdrawn
  • Recently re-listed at $485,000
  • Assessments of $400 a month
  • Taxes of $8796
  • Central Air
  • Washer/Dryer in the unit
  • No parking- rental available nearby for $275 a month
  • Bedroom #1: 14×12
  • Bedroom #2: 12×12
  • Office: 15×9

East Lincoln Park 2-Bedroom Coach House Now $10K Under 2004 Price: 337 W. Armitage

We last chattered about this 2-bedroom contemporary coach house at 337 W. Armitage in Lincoln Park in November 2011.

See our prior chatter here.

At the time, it was listed at $500,000. Not surprisingly, most of you thought that was too high. Most thought $400,000 was more likely to see a sale.

Since November, it has been reduced $70,000 to $430,000.

If you recall, it does not have the vintage feel of most coach houses. Instead, it has contemporary styling.

The kitchen has modern cabinets, a stainless steel island and luxury appliances by SubZero, Miele and Bosch.

One of the 2 bedrooms is on the second floor with the other in the lower level.

Built on a 22×35 lot, there is a patio and central air but there doesn’t appear to be parking (although the listing says it has it.)

Now listed $10,000 under the 2004 purchase price, is this new price going to get the job done?

Berg Properties still has the listing. See the pictures here.

337 W. Armitage: 2 bedrooms, 2 baths, 1400 square feet

  • Sold in August 1990 for $193,000
  • Sold in October 2002 for $145,000
  • Sold in June 2004 for $440,000
  • Originally listed in 2007/2008- never sold
  • Re-listed in June 2011 for $500,000
  • Was listed in November 2011 for $500,000
  • Reduced
  • Currently listed at $430,000
  • Assessments of $145 a month
  • Taxes of $2164
  • Central Air
  • Washer/Dryer in the unit
  • No parking (?) Pictures don’t seem to indicate that it has it.
  • Bedroom #1: 17×17 (second floor)
  • Bedroom #2: 18×11 (lower level)
  • Living/dining combo: 17×9 (main level)
  • Kitchen: 17×8 (main level)

Looking for a 2/2 in University Village Under $300K? 1451 S. Halsted

This 2-bedroom in the Ivy Hall at 1451 S. Halsted in the University Village neighborhood of the near south side was originally listed on the market in January 2011 (the photo above is from the group of buildings in the Ivy Hall condos on this block of Halsted.)

It was an upgraded unit and has stainless steel appliances, granite counter tops and custom cabinets.

The unit also has hardwood floors (some have carpet.)

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

It is listed $58,000 under the 2007 purchase price.

Is this a deal for the area?

Mitchell Aronson at @Properties has the listing. See the pictures here.

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

  • Sold in November 2006 for $329,500
  • Sold in July 2007 for $347,000
  • Originally listed in January 2011 (I couldn’t find a price)
  • Currently listed at $289,000
  • Asssessments of $283 a month
  • Taxes of $4271
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×12
  • Bedroom #2: 12×10

 

Selling the 3-Bedroom Rehabbed Loft Less Than 2 Years Later: 3900 N. Claremont in North Center

This 3-bedroom duplex in the St. Ben’s Loft at 3900 N. Claremont in North Center is back on the market just 21 months after it last sold.

It has been rehabbed, however, and now has a newer kitchen with what looks like a new kitchen island with a wine fridge, new granite counter tops and tile backsplash and possibly new appliances. The cabinets are either new (or painted)- you tell me.

The master bathroom has also been rehabbed with marble tile and a soaking tub.

It has 20 foot high ceilings in the living room.

The loft has timber ceilings and several walls of exposed brick.

Two of the bedrooms are on the main floor with the master bedroom on the second floor along with a den.

It has central air, washer/dryer in the unit and there’s parking available for $25,000 extra.

It is also in the coveted Bell school district.

During the boom, it was a given that if you updated the kitchen and baths you almost always got your money back in the resale.

Will the rehab matter in the sale price of this unit?

Leigh Marcus at @Properties has the listing. See the pictures here.

You can also see the video here.

Unit #103: 3 bedrooms, 2 baths, 1800 square feet, duplex

  • Sold in November 2006 for $455,000
  • Sold in June 2010 for $385,000
  • Currently listed for $395,000 (plus $25,000 for parking)
  • Assessments of $383 a month
  • Taxes of $7146
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×12 (second floor)
  • Bedroom #2: 15×13 (main floor)
  • Bedroom #3: 15×13 (main floor)

 

 

After 4 Years, Will This Lakeview Penthouse Finally Sell in 2012? 920 W. Barry

This 3 bedroom top floor unit at 920 W. Barry in Lakeview has been on and off the market since December 2007.

At 2000 square feet, it has two outdoor spaces including a front terrace and a private roofdeck.

The unit is “extra wide” at 34 feet.

It has luxury finishes including Bosch and Viking appliances in the kitchen and marble baths.

Originally listed for $689,000 in 2007, it has been reduced $139,100 to $549,000.

That is $56,000 under the 2004 purchase price.

Is this penthouse finally priced to sell?

Pamela Rueve at Coldwell Banker has the listing. See the pictures here.

Unit #5: 3 bedrooms, 2 baths, 2000 square feet

  • Sold in July 2004 for $605,000
  • Originally listed in December 2007 for $689,000
  • Reduced numerous times
  • Currently listed at $549,900
  • Assessments of $325 a month
  • Taxes of $9000
  • Central Air
  • Washer/Dryer in the unit
  • Garage parking
  • Bedroom #1: 15×15
  • Bedroom #2: 12×12
  • Bedroom #3: 11×11

“Featured in Countless Magazines”: A 1-Bedroom at 909 W. Wisconsin in Lincoln Park

This 1-bedroom at 909 W. Wisconsin in Lincoln Park is familiar to those of you who peruse such sites like Apartment Therapy (which is where I saw it).

But the listing also says it has been “featured in countless magazines” as it’s a “top Chicago designer’s own pied-a-terre.”

Now’s your chance to buy it (but, of course, the furniture won’t be there when you move in.)

It has a custom kitchen with dark cabinets, carerra marble counter tops and shelves and a Bertazzoni range.

There is a dining area in the turret.

It has central air, washer/dryer in the unit but there’s no parking.

The unit is listed $39,000 above the 2007 purchase price.

Will they get more than the previous sale because it’s been featured in magazines?

You can see the Apartment Therapy post from 2008 here (and it’s the same pictures being used in the listing.)

Emily Sachs Wong at Koenig & Strey Real Living has the listing. See the pictures here.

Unit #4R: 1 bedroom, 1 bath, no square footage listed (but the Apartment Therapy post says about 700 square feet)

  • Sold in July 1991 for $113,000
  • Sold in May 1993 for $112,000
  • Sold in June 1999 for $146,000
  • Sold in June 2007 for $240,000
  • Currently listed for $279,000
  • Assessments of $158 a month
  • Taxes of $3253
  • Central Air
  • In-unit washer/dryer
  • No parking
  • Bedroom: 15×9
  • Living room: 18×13
  • Kitchen: 10×9

Are High Floor 1-Bedrooms On Sale in One Museum Park? 1211 S. Prairie in the South Loop

This 39th floor 1-bedroom in One Museum Park at 1211 S. Prairie in the South Loop just came on the market.

The unit is not one of those small 800 square foot one bedrooms.

At 1002 square feet, it has an 8×7 den.

The listing says it has views of the lake, museums, Navy Pier and Buckingham Fountain.

It has the newer construction finishes including hardwood floors.

The kitchen has stainless steel appliances and some kind of stone counter tops.

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

I can’t tell if parking is included or not (but it is certainly available in the building.)

The unit just came on the market at $50,000 under the 2008 purchase price.

Is this a deal for a high floor luxury one bedroom?

Rose Baldwin at County Line Properties has the listing. See the pictures here.

Unit #3902: 1 bedroom, 1 bath, den, 1002 square feet

  • Sold in August 2008 for $470,000 (I can’t tell if this included parking or not)
  • Currently listed for $420,000 (also can’t tell if this includes the parking)
  • Assessments of $438 a month (includes gas, doorman, cable, pool)
  • Taxes of $6499
  • Central Air
  • Washer/dryer
  • Bedroom: 13×13
  • Den: 8×7

Market Conditions: Crain’s: Is Chicago’s Upper Bracket Condo Market Just Fine?

I was struck by the title of a link to an article on Crain’s today which said: “Upscale condo owners: What downturn?”

But when I clicked on the article, I found it mainly focused on Trump Tower and how more than half of the owners who have resold in that building have actually seen appreciation.

Crain’s analysis of Cook County records shows that residential unit re-sales at Trump have been above the purchase price for 31 of the 49 residential units that have been re-sold, a 63 percent success rate. By comparison, a 60-building survey of downtown and North Side condo buildings by Chicago-based Appraisal Research Counselors shows an overall 19 percent decline in condo values since the end of 2007, around the time prices peaked.

But ultra-luxury success here has its limits. Celebrity developer Donald Trump is unlikely ever to realize a profit on his namesake Chicago skyscraper, raising doubts about the future of such ambitious projects. By the end of 2011 he had only sold 69 percent of the residential units at the River North structure along the Chicago River.

“I’ve had better,” Mr. Trump says of his investment in the 92-story hotel and condominium. “It was very expensive to build. I’m very proud of the building itself, but as an investment, I have done much, much better on other things.”

What the article doesn’t say is how many of the successful resales were buyers who bought at the “friends and family” rate that was originally offered to a select few when the building was first publicized.

And what about other luxury high rise buildings? How are they doing?

At another posh locale, the Waldorf Astoria Chicago in the Gold Coast, five of seven re-sales have been for a gain. Completed in late 2009, the condos formerly known as the Elysian Hotel & Private Residences sold out by September. Nearby, nearly half of re-sales in the Palmolive Building have been for a gain.

There’s no mention of some of the other luxury buildings like 55 E. Erie, 50 E. Chestnut (still not sold out), 10 E. Delaware and others.

Tricia Fox, an @properties broker in Chicago, says success depends on two factors in real estate: location and timing.

People who bought in 2003, when bargain-rate prices were offered to help kick-start the development, have done well. Larger units with the best views have sold out, while smaller condos with lesser views remain in large supply.

“They rent in a New York minute,” Ms. Fox says. “If (owners) have holding power, they can rent their condo and they’ll still do well. They feel that if they hold on to them they’ll garner a higher price in the future, which I believe is correct.”

With Trump still just 69% sold as of the end of 2011, what happens when a couple hundred more luxury units come on the market in the Ritz and in 2520 LP this year?

Trumped up: Trophy towers’ condos rise above housing slump [Crain’s Chicago Business, Ryan Ori and Micah Maidenburg, April 16, 2012]

How Hot Is the Market? This Renovated 2-Bedroom At 1300 N. Astor In The Gold Coast Tests It Again

This 2-bedroom at 1300 N. Astor in the Gold Coast has been on and off the market since November 2009.

The listing says it has been renovated. It has a modern minimalist look with new dark hardwood floors and a new kitchen and baths.

The kitchen is a “chef’s kitchen” with upgraded appliances including SubZero, Bosch and Viking.

The master bath has a marble soaking tub, which you can see in the picture, has floor to ceiling windows right next to the tub.

This is a half floor unit with city views.

The unit has central air and a washer/dryer in the unit. There is leased parking.

It was listed last year in January 2011 for $575,000 before being withdrawn from the market in April.

The unit has come back on the market listed at $585,000.

Is the market hot enough to support the higher price just one year later?

Gary Zickel at Prudential Rubloff has the listing. See the pictures here.

Unit #18A: 2 bedrooms, 2 baths, 1600 square feet

  • Sold in November 2004 for $410,000
  • Sold in August 2006 for $500,000
  • First listed in November 2009
  • Withdrawn
  • Was listed in January 2011 for $575,000
  • Withdrawn in April 2011
  • Currently listed for $585,000
  • Assessments of $1500 a month (includes heat, a/c, doorman, cable)
  • Taxes of $6199
  • Central Air
  • Washer/Dryer in the unit
  • Parking is leased for $250 a month
  • Half floor unit
  • Bedroom #1: 19×15
  • Bedroom #2: 12×10