Get a 3-Bedroom Duplex Up With Cathedral Ceilings for Under $900K: 327 W. Belden in Lincoln Park

This 3-bedroom duplex-up at 327 W. Belden in Lincoln Park recently came on the market (this picture above is actually of 329-333 W. Belden, the building directly next door. I thought I also had a picture of 327 W. Belden which looks nearly the same but I don’t. But it gives you an idea.)

It seems to live more like a single family home than your typical condo.

All 3 bedrooms are on the second floor and the unit has 3 outdoor spaces, including a deck off the master bedroom.

It also has 22-foot high cathedral ceilings in the living room with 4 skylights.

There are hardwood floors throughout and a main floor den/family room off the kitchen.

The kitchen is described as a “chef’s kitchen” and also has an eat-in breakfast area.

The unit has central air, washer/dryer in the unit and parking is included.

It is also in the Lincoln school district and close to the lakefront.

Is this priced to sell quickly at under $900,000?

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

Unit #3: 3 bedrooms, 2.5 baths, no square footage listed, duplex up

  • Sold in January 1993 for $430,000
  • Sold in June 2008 for $939,000
  • Currently listed for $899,000
  • Taxes of $11,800
  • Assessments of $973 a month
  • Central Air
  • Washer/Dryer in the unit
  • Parking included
  • Bedroom #1: 14×18 (second floor)
  • Bedroom #2: 10×14 (second floor)
  • Bedroom #3: 11×14 (second floor)
  • Den: 16×11 (main level)

Get a 5 Car Garage and a Double Lot for Under $700K in Hyde Park: 5478 S. Greenwood

 

This 5-bedroom vintage single family home at 5478 S. Greenwood in Hyde Park just came on the market. (Thanks to the reader who got me the pic on this one!)

Built in 1875, it is 3300 square feet on an oversized 50×163 lot.

It actually has a rare 5-car garage.

However, it doesn’t have air conditioning and the listing says “great potential here.”

The house still has some of its vintage details including crown molding and a beamed ceiling.

The house is in a prime University of Chicago location.

Is this a deal for the lots and the location?

Daniel Lipton at @Properties has the listing. See the pictures here.

5478 S. Greenwood: 5 bedrooms, 3 baths, 3300 square feet, 5 car garage

  • Sold in September 1996 for $337,500
  • Lis pendens was filed in February 2007
  • Currently listed at $699,900
  • Taxes of $10624
  • No central air
  • 2 fireplaces
  • Bedroom #1: 12×17 (second floor)
  • Bedroom #2: 11×13 (second floor)
  • Bedroom #3: 12×10 (second floor)
  • Bedroom #4: 12×12 (second floor)
  • Bedroom #5: 10×10 (second floor)

Market Conditions: Luxury Sales in Chicago Still Fall 14.4% YOY in 2011

Despite several condos and single family homes over $5 million selling in 2011, Crain’s is reporting that the luxury market was not as healthy as it seemed.

House and condo sales of $1 million or more in the city dropped 14.4% to 539 units, compared with 630 units in 2010.

The number of high-end condo sales in the Chicago area fell sharply, down 29% to 259 units last year, compared with 364 in 2010, but the market is not as bad as the figures might indicate, Mr. Kinney says.

Because no large, luxury new condo developments were completed in 2011, the drop largely reflected a decrease in sales of new condos, not existing ones, he says.

“With the general resale numbers, the picture isn’t as ugly,” he says. A breakdown of year-over-year numbers for high-end condo resales was not available.

Remember, two new luxury high rises at some of the highest price points in the city are due to begin closings this year so that will be bringing both sales, and inventory, into the luxury condo market.

For the entire “Chicago area” (not sure what that encompasses), house and condo sales of $1 million or more fell 8% to 1,331 from 1,446 in 2010.

It is still down 45% from the 2007 peak, when 2,430 properties over $1 million sold.

Inventory, the sign of a “healthy” market, also remains abnormally high.

In the entire Chicago area there is an 18 month supply of single family homes on the market over $1 million and a 19 month supply of condos at that same price level.

Is this lower level of luxury home sales the sign of a market bottom?

Or is this simply the new norm?

High end sales down 8% last year in the Chicago area [Crain's Chicago Business, Mary E. Morrison, January 17, 2012]

Tales of the Bust: From $612K in 2007 to $489K in 2012 in Lincoln Park: 2714 N. Lehmann Ct.

 

We last chattered about this 8-unit building at 2714 N. Lehmann in Lincoln Park in April 2011 when Unit #4N had been on the market for 2 years.

See our April 2011 chatter on Unit #4N here.

Unit #4N finally sold in December 2011 after 2 1/2 years on the market. Here are the details.

Unit #4N: 2 bedrooms, 2 baths, 1600 square feet

  • Sold in December 2006 for $612,000
  • Originally listed in April 2009 for $579,900
  • Reduced
  • Was listed in June 2010 for $539,000(parking included)
  • Reduced
  • Was listed in January 2011 for $499,000 (parking included)
  • Sold in December 2011 for $473,000
  • Assessments of $214 a month
  • Taxes of $8853
  • Central Air
  • In-unit washer/dryer
  • Bedroom #1: 16×14
  • Bedroom #2: 12×11

Recently, the sister unit, Unit #4S, came on the market with a list price of $489,000.

It’s the same square footage, also has the private roof top deck and the parking is also included.

It also previously sold at $612,000 in 2007, which was when the building was built.

Will this unit sell relatively quickly given the comp on the other unit?

And is this now realistic pricing on the luxury 2/2s in this neighborhood?

Rachel Hamilton Mann at Conlon also has this listing. There are no pictures yet- so see the pictures of the sold unit, Unit #4N, here.

Unit #4S: 2 bedrooms, 2 baths, 1600 square feet

  • Sold in January 2007 for $612,000
  • Currently listed for $489,000 (parking included)
  • Assessments of $214 a month
  • Taxes of $9238
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 16×14
  • Bedroom #2: 12×11

Landmarked Historic Mansion on Terra Cotta Row Reduces Again: 1048 W. Oakdale in Lakeview

We last chattered about this vintage 6-bedroom single family home and coach house on the landmarked Terra Cotta Row at 1048 W. Oakdale in Lakeview in August 2011.

See our prior chatter here.

Also known as the Henry Rohkam Mansion, 1048 W. Oakdale is a rare property for a neighborhood as dense as Lakeview as it is on over 3 city lots.

Built in 1887 for Henry Rohkam, the Vice President of Northwestern Terra Cotta Company, it is part of the landmarked Terra Cotta Row district which consists of 2 single family homes and a 2 multi-flat buildings as well as terra cotta fencing lining the street.

When granting the landmark designation, the Commission on Chicago Landmarks remarked on the terra cotta row’s ornate style:

“The buildings’ lavish, terra cotta decoration suggest their distinction. Such displays of ornament are unusual in neighborhoods of working class origins. They were usually limited to mansion on the lakefront or other affluent areas.”

In the 1880s, Lakeview was a German-American neighborhood. Rohkam and his architect, Theodore Karls, were both of German ancenstry. Karls was born in Berlin and came to Chicago in 1868.

The style of the house reflects both German and Austrian architecture and the gables and facade were similar to the high-style of merchant homes in Germany.

The main house is brick and terra cotta and has a raised basement.

The fence is red terra cotta.

The 3-bedroom, 2 bath 3-level coach house was built in 1912 (replacing a wood stable) and is pressed brick and terra cotta.

The house is located on 3 1/2 Chicago lots- measusring 87.5×125.

The gardens consist of a gazebo, winding brick sidewalks and a decorative garden urn which depicts ancient warriors in combat.

The Interior

The main house has been refurbished to reflect its historic heritage.

It has the original stained glass and woodwork.

There are now silk-screened wallpapers, antique lighting and imported tiles.

The kitchen has a Wolf stove and oven, a wine cooler and a Northland refrigerator alongside white cabinets and sandstone counter tops.

The house has central air. There is 2-car garage parking plus 2 extra parking outdoor parking spaces.

Originally listed just before the recession, in May 2008, for $3.9 million, (bad timing?) it has been off and on the market since then.

It has now been reduced $1.405 million to $2.495 million.

One thing that many of you complained about in the prior chatter was the vintage wallpaper in many of the rooms which you deemed too distracting.

The new listing agent actually has posted pictures showing the “before” (with the wallpaper) and what it would be like “after” (without the wallpaper.) (Perhaps she is a reader of Crib Chatter???)

BEFORE:

AFTER:

BEFORE:

AFTER:

 

Do the pictures change your mind?

Or is the Victorian-style interior too big of a distraction for buyers in today’s market?

Joanne Nemerovski at Prudential Rubloff now has the listing. See more pictures here.

1048 W. Oakdale: 4 bedrooms, 3 full baths, 2 half baths in main house (the listing now says 6 bedrooms, 5.2 baths- not sure if this includes the coach house or not)

  • Sold in Janury 1996 for $1.195 million
  • Originally listed in May 2008 for $3.9 million
  • Reduced to $3.15 million by March 2009
  • Withdrawn in 2009
  • Was listed in August 2011 at $2.75 million
  • Reduced
  • Currently listed at $2.495 million
  • Taxes of $12,050
  • Central Air
  • Coach House has 3 bedrooms, 2 baths on 3 levels
  • 2-car garage plus 2 other outdoor parking spots
  • Bedroom #1: 20×18 (second floor)
  • Bedroom #2: 21×12 (second floor)
  • Bedroom #3: 9×13 (second floor)
  • Bedroom #4: 13×18 (lower level)
  • Family room: 26×16 (main level)

 

Get Your 3-Bedroom Pre-War Lakeview Home for Under $300K: 3740 N. Lake Shore Drive

 

This 3-bedroom at 3740 N. Lake Shore Drive in Lakeview has been on and off the market since October 2009.

Built in 1924, this “pre-war” unit actually has a lot of the amenities buyers look for today but can’t always find in vintage buildings.

It has in-unit washer/dryer and there is a garage in the building (not sure if it is rental or deeded.)  However, it doesn’t have central air (only window units.)

At over 2000 square feet, it has an entry foyer, a separate dining room and office. The listing says the third bedroom has been made into a breakfast room but can be changed back into a bedroom but at just 7×10 it was likely the original maid’s room.

The unit has a “chef’s kitchen” with stainless steel appliances.

It has been reduced $176,000 to $299,000 since 2009.

Is this a deal for the square footage?

Brad Lippitz at Prudential Rubloff has the listing. See the pictures here.

Unit #3B: 3 bedrooms, 2.5 baths, 2000+ square feet

  • Sold in April 2005 for $376,000 (per Redfin- as the ccrd website was down again)
  • Originally listed in October 2009 for $475,000
  • Reduced several times
  • Currently listed at $299,000
  • Assessments of $1161 a month (includes heat, doorman, cable)
  • Taxes of $6120
  • No central air
  • Washer/Dryer in the unit
  • Garage in the building- but not sure if parking is deeded, and extra, or rental
  • Bedroom #1: 18×15
  • Bedroom #2: 17×15
  • Bedroom #3: 7×10
  • Office: 8×8

 

If They Build It, You Will Buy It: 6 Bedroom SFH at 1500 W. Oakdale in Lakeview

Since the overall market is so slow, thank goodness there is new construction to chatter about.

This new construction 6-bedroom single family home at 1500 W. Oakdale in Lakeview came on the market last month.

The sister property next door (1502 W. Oakdale) was also built at the same time but that house is not yet on the market.

Built by Jasper Builders on a standard 25×125 lot, three of the bedrooms are on the second floor, two are in the lower level and one is on the third floor.

It has radiant floors and the usual new construction finishes such as granite counter tops in the kitchen.

There is a deck on top of the garage.

Is Lakeview destined to have block after block of similarly built million dollar mansions in the years ahead?

Denny T. O’Leary, one of the builders, has the listing. See the pictures here.

1500 W. Oakdale: 6 bedrooms, 6 baths, 5000 square feet, 2 car garage

  • New construction
  • Currently listed at $1.699 million
  • Taxes are “new”
  • Central Air
  • Bedroom #1: 18×15 (second floor)
  • Bedroom #2: 12×11 (second floor)
  • Bedroom #3: 16×11 (second floor)
  • Bedroom #4: 18×12 (lower level)
  • Bedroom #5: 12×11 (lower level)
  • Bedroom #6: 17×15 (third level)
  • Family room: 12×18 (main level)

 

 

Mid-Century Modern Lover? This 3 Bedroom Lakeview Townhouse Is For You: 562 W. Stratford

This mid-century modern 3-bedroom townhouse at 562 W. Stratford in Lakeview has been on the market since May 2011.

In that time it has been reduced $36,000.

At 1900 square feet, all 3 bedrooms are on the second floor.

It has radiant heat and space pac air but there is no deeded parking (rental parking only.)

The listing says it has the original 1952 baths and original kitchen cabinets (with some stainless steel appliances.)

Is that a good thing, or a bad thing, in this market?

What will this ultimately sell for?

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

562 W. Stratford: 3 bedrooms, 2.5 baths, 1900 square feet

  • I couldn’t find any prior sales price
  • Originally listed in May 2011 for $485,000
  • Reduced
  • Currently listed at $449,000
  • Assessments of $120 a month
  • Taxes of $10,215
  • Space pac cooling
  • Rental parking between $200 and $230 a month
  • Bedroom #1: 19×17 (second floor)
  • Bedroom #2: 14×10 (second floor)
  • Bedroom #3: 11×10 (second floor)

 

New Construction in Albany Park is Reduced 25%: 3201 W. Leland

The listing for this new construction 2/2 in Leland Crossing at 3201 W. Leland in Albany Park says it has been reduced 25% from its original price.

The building was built a few years ago but the listing came on the market in February 2010.

First listed for $289,900 it has been reduced to $249,900.

The listing says 40% of the building is sold.

It is an elevator building with 45 units.

If you have to commute on the El, the location is top notch as it is literally right next to the El stop on Kedzie.

The units have 10 foot concrete ceilings and are “soft lofts”- meaning there is exposed ductwork.

The kitchens are what you would expect in new construction with stainless steel appliances and stone counter tops.

There is central air, washer/dryer in the unit and garage parking is available for $7500.

Is this a better deal than renting?

Deborah Hess at Conlon has the developer’s listings. See the pictures here.

Also, check out this YouTube video for more here.

Unit #203: 2 bedrooms, 2 baths, no square footage listed (but I saw 1200 sq. ft. on another listing)

  • Originally listed in February 2010 for $289,900
  • Reduced several times
  • Currently listed at $249,900 (plus $7500 for parking)
  • Assessments of $226 a month
  • Taxes are “new”
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×11
  • Bedroom #2: 13×10

3 Months Later, This Lincoln Park 3-Bedroom Reduces Another $10K: 1049 W. Montana

With the ccrd website down, I’m covering some of our old properties.

We last chattered about this 3-bedroom duplex down at 1049 W. Montana in Lincoln Park in October 2011.

See our prior chatter here.

It is still on the market and was recently reduced another $10,000 to $389,000.

If you recall, it has all the features buyers look for including central air, parking and in-unit washer/dryer (in this case a full sized stackable.)

2 of the 3 bedrooms are in the lower level.

It also has a separate dining room.

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

The listing says the master bath has been “redone” and has marble floors.

What price will it finally take to sell this property?

Millie Rosenbloom at Baird & Warner has the listing. See the pictures here.

Unit #1: 3 bedrooms, 2.5 baths, duplex down, no square footage listed, 1 car parking

  • Sold in March 1996 for $236,500
  • Sold in January 2007 for $445,000
  • Originally listed in June 2011 for $439,000
  • Reduced
  • Was listed in October 2011 for $399,000
  • Reduced
  • Currently listed for $389,000
  • Assessments of $247 a month
  • Taxes of $7220
  • Central Air
  • In-unit washer/dryer
  • Parking included
  • Bedroom #1: 15×11 (lower level)
  • Bedroom #2: 11×10 (lower level)
  • Bedroom #3: 11×8 (main level)