Nearly 4 Years Later And Still Trying To Sell In Lakeview: 1030 W. Roscoe

We’ve chattered about this 4-bedroom single family home at 1030 W. Roscoe in Lakeview several times over the past few years.

See our March 2010 chatter here.

See our April 2012 chatter here.

It’s been listed as high as $699,000 but now seems stuck on the $499,000 level.

In April 2012 it was listed at $499,800 and has now been reduced to just $499,777.

If you recall, it was built in 1884 on a 25×100 lot.

3 of the 4 bedrooms are on the second floor with the fourth bedroom on the main level.

The kitchen has maple cabinets and white appliances.

The basement is also finished.

The house has central air and a 2 car garage.

Yes, that’s the brown line El running directly behind the house. But that hasn’t stopped other sales from happening quickly (even though on both the brown/red/purple El lines.)

What will it take to finally sell this house?

Ismael Perez at Exit Real Estate Partners still has the listing. See the pictures here (yes- they are the same pictures as before.)

1030 W. Roscoe: 4 bedrooms, 2.5 baths, no square footage listed, 2 car garage

  • Sold in January 1997 for $175,000
  • Sold in September 1997 for $245,000
  • Listed in December 2008 for $699,000
  • Reduced numerous times
  • Was listed in July 2011 for $549,000
  • Reduced
  • Was listed on March 2, 2012 for $499,900
  • Reduced
  • Was listed in April 2012 at $499,800
  • Reduced
  • Currently listed at $499,777
  • Taxes of $9710
  • Central Air
  • Bedroom #1: 20×19 (second floor)
  • Bedroom #2: 17×13 (second floor)
  • Bedroom #3: 13×8 (second floor)
  • Bedroom #4: 10×12 (main floor)

Looking For “New” In Roscoe Village? A 6-Bedroom Rehab At 1845 W. Newport

This 6-bedroom single family home at 1845 W. Newport in Roscoe Village has been on the market for 9 months.

It has been completely gut rehabbed with modern features.

The listing says it has a “chef’s kitchen” with white cabinets and stainless steel appliances.

3 of the bedrooms are on the second floor and 2 more are on the third floor. The sixth bedroom is in the lower level.

There’s a media room and skylights along with extensive millwork.

The 5000 square foot house is built on a 25×124 lot with a 2-car garage.

The house has been reduced $100,000 to $1.199 million since November 2011.

What will it take to sell this house?

Mario Greco at Prudential Rubloff has the listing. See the pictures here.

1845 W. Newport: 6 bedrooms, 4.5 baths, 5000 square feet, 2 car garage

  • Sold in May 2010 for $450,000
  • Originally listed in November 2011 for $1.299 million
  • Reduced
  • Currently listed at $1.199 million
  • Taxes of $10,736
  • Central Air
  • Bedroom #1: 16×15 (second floor)
  • Bedroom #2: 15×12 (second floor)
  • Bedroom #3: 12×12 (second floor)
  • Bedroom #4: 14×13 (third floor)
  • Bedroom #5: 17×13 (third floor)
  • Bedroom #6: 18×12 (lower level)

Restored Pre-War 4-Bedroom On The Park Is Still Available: 399 W. Fullerton Parkway in Lincoln Park

We last chattered about this 4-bedroom co-op at 399 W. Fullerton Parkway, across the street from Lincoln Park, in April 2012.

See our prior chatter here.

Previously listed for $1.5 million, it is still listed for that price.

Many of you put this building at the top of your list as a favorite in the city.

The co-op was built in 1927 and is on the National Historic Register.

There are 32 units with the elevator opening to two units per floor.

These are truly homes in the sky.

The building has two tiers of units, the East Tier and the West Tier- both have north and south facing views as well.

The East Tier is 300 square foot larger, with units at 3300 square feet. The West Tier units are 3000 square feet.

If you recall, this East Tier unit has been restored to its vintage glory with an attention to detail that includes antique doorknobs, built-ins, custom door hinges and marble window sills.

The kitchen has white cabinets and granite/wood counter tops with SubZero and Wolf appliances along with a butler’s pantry.

This unit actually has all the features buyers look for, which is rare for vintage of this era. There is one garage parking space, central air and laundry in the unit. According to the agent, there is also two car parking available to purchase across the street.

There is a $100,000 special assessment which the seller is giving a credit for at closing. I’ve been told it covers 6 years of building the reserves.

Even though there are signs of life in the housing market, do buyers still have the power in the upper bracket condo market?

Will this unit sell in 2012?

John Vossoughi at @Properties still has the listing. See more pictures here.

Unit #14E: 4 bedrooms, 3.5 baths, 3300 square feet, 1 car parking

  • I couldn’t find a prior sales price because it is a co-op
  • Was listed in April 2012 at $1.5 million
  • Still listed at $1.5 million
  • $100,000 credit to the buyer to cover special assessment
  • Assessment of $2610 a month (includes heat, a/c, doorman, cable)
  • Taxes of $7950
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×19
  • Bedroom #2: 12×13
  • Bedroom #3: 9×14
  • Bedroom #4: 12×18
  • Family room: 12×18
  • Laundry Room: 6×11
  • Study: 12×14

The Historic Spencer Kimbell Mansion Is Now Under a Million Bucks: 2556 N. Kimball in Logan Square

We’ve chattered about the Spencer Kimbell Mansion at 2556 N. Kimball in Logan Square before.

See our June 2012 chatter here.

Since then, the 8-bedroom house has been reduced further and is now listed just under a million dollars at $999,000.

The listing now also says ” HAS BEEN SUCCESFULLY REPAIRED THE INTERIOR HAS BEEN SUCCESFULLY REPAIRED & ALL THE SET UP IS READY TO USE IT.”

This is a new listing agent, but this one also got the spelling of the house wrong. It continues to list it as the “Spencer Kimball” mansion.

But, if you recall, the street was named after the family later- but the city messed up the spelling and that’s how it ended up with an “a.” Originally, the Kimbells were spelled with an “e”.

The house is at the corner of Kimball and Fullerton and used to make up an area called Kimbell Farm. Here’s what I found out on the all-knowing Google:

“However, for historical reference and as a point of amusement, the original Kimbell Farm extended from Kimbell/Kimball Avenue (spelling “was flubbed” in the City’s 1909 re-naming) to a street name that escapes me, just a few blocks west of Central Park, and from Fullerton to just past Wrightwood.

Wrightwood Avenue was a gift to the City in 1895 by Martin Kimbell’s family, west of Kimball/Kimbell and allowed for its extension to Crawford (now Pulaski Road).

The Kimbell Farm supplied the early Town and City of Chicago with produce
and hay for horses in the late 1830?s, via an old Indian Trail, developed in part by Kimbell and others into Northwest Plank Toll Road. That street is now known as Milwaukee Avenue.”

The house is on an oversized lot measuring 81×125 and has a 2-car garage.

In the prior listing, many of the original vintage features were visible including pocket doors, beamed ceilings, and stained glass.

You can see a Youtube video of the former pictures of the interior here (warning- music!).

In the  new listing, there are only 2 pictures of the interior. Previously, the kitchen had white cabinets and some white and stainless appliances (there was a stainless steel stove.)

6 of the 8 bedrooms are somehow on the second floor with the 2 remaining bedrooms and a library on the third level.

How low will this have to go before it finds a buyer?

Thomas Sasco at American Realty now has the listing. See the new pictures here.

2556 N. Kimball: 8 bedrooms, 5.5 baths, 5170 square feet, 2 car garage

  • Sold in June 1997 for $345,000
  • Sold in December 2005 for $1.2 million
  • Originally listed in October 2011 for $1.249 million
  • Reduced
  • Was listed in June 2012 at $1,047,777
  • Reduced
  • Currently listed at $999,000
  • Taxes of $13,109
  • Central Air
  • Bedroom #1: 28×14 (second floor)
  • Bedroom #2: 15×16 (second floor)
  • Bedroom #3: 14×15 (second floor)
  • Bedroom #4: 20×15 (second floor)
  • Bedroom #5: 15×14 (second floor)
  • Bedroom #6: 14×18 (second floor)
  • Bedroom #7: 14×18 (third floor)
  • Bedroom #8: 12×15 (third floor)
  • Library: 12×14 (third floor)

 

The Large Vintage Pre-War North Side Apartment: 3144 N. Sheridan in Lakeview

Recently, we chattered about a 4/2 1920s vintage apartment completely redone in Hyde Park at 5658 S. Blackstone listed for $469,000.

In the comments, Sonies said: “… the place is beautiful, wish more large condos like this existed on the north side with this sort of pricing.”

See our chatter on the Hyde Park unit here.

Nearly the mirror unit is currently on the market at 3144 N. Sheridan in Lakeview only it’s a 3-bedroom and has a private rooftop deck. (I’m not sure on the square footage on the Hyde Park unit because the older listing said it was 2000 square feet, the current one says 2600 square feet.)

The Lakeview building was built in 1914.

The living/dining/sunroom layout is nearly identical to that in Hyde Park, complete with several sets of French doors, a wood burning fireplace and crown molding.

Like the Hyde Park unit, it too has its own laundry room, measuring 5×7.

It has a new marble master bathroom.

The third bedroom is currently being used as a den and has a wet bar.

The kitchen has a combo of black and stainless steel appliances.

It has central air, but no parking. That is available for rent next door.

You can’t miss the spiral staircase in the vintage dining room, however. It leads to a 27×33 private rooftop deck with, the listing says, “lake & harbor” views.

It is listed about $90,000 more than the Hyde Park property (but does have that rooftop deck).

Unit #2A, in the same building, was recently on the market in March 2012.

That unit is also a 3/2 with the same layout (just no rooftop deck). Also 1850 square feet.

Before the unit was withdrawn, it was listed at $429,900. See that listing here.

Are large vintage apartments with attractive pricing really that rare on the North Side?

Robin Miner at @Properties has the listing. See the pictures here.

Unit #3A: 3 bedrooms, 2 baths, 1850 square feet

  • Sold in October 1992 for $320,750
  • Sold in August 1996 for $229,000
  • Originally listed in September 2009 for $598,000
  • Withdrawn in 2010
  • Was listed in September 2011 for $574,900
  • Reduced 
  • Was listed in April 2012 for $559,000
  • Currently still listed for $559,000
  • Assessments of $559 a month (includes cable)
  • Taxes of $6846
  • Central Air
  • In-unit washer/dryer
  • No parking- available for rent next door for $200 to $260 a month
  • Bedroom #1: 21×16
  • Bedroom #2: 13×13
  • Bedroom #3: 14×9

 

 

 

Crown Molding Makes All The Difference: A 1-Bedroom in 440 N. Wabash in River North

This rehabbed high floor 1-bedroom at 440 N. Wabash in River North recently came on the market.

In January 2012, it sold in a distress sale for about 54% under the 2005 purchase price.

Back in January, the 807 square foot unit had carpeting and a completely white rental kitchen and rental bath.

See the prior pictures here.

But now it has been rehabbed.

The kitchen wall was removed, opening up the kitchen to the living room and allowing an island to be installed.

The kitchen now has espresso wood cabinets, granite counter tops, a tile backsplash and Kitchen Aide stainless steel appliances.

It has a new bath with just the walk-in shower (instead of a bathtub.)

The west facing unit has new dark hardwood floors and crown and base board moldings.

Isn’t it amazing how a little thing like crown molding can make such a big difference in the space? (look at the before photos again.)

Will this unit sell quickly given that it’s “new”?

Maritherese Karolich at Koenig & Strey has the listing (it is agent owned.) See the pictures here.

Unit #4602: 1 bedroom, 1 bath, 807 square feet

  • Sold in November 2005 for $372,500 (included parking)
  • Lis pendens foreclosure filed in November 2011
  • Sold in January 2012 for $170,000 (included the parking)
  • Currently listed for $319,000 (plus $20,000 for parking)
  • Assessments of $528 a month (includes heat, pool)
  • Taxes of $3188
  • Central Air
  • No washer/dryer in the unit. Coin laundry in the building
  • Bedroom: 15×11

 

Looking For A Rehabbed Pre-War 4-Bedroom in Hyde Park? 5658 S. Blackstone

This vintage 4-bedroom at 5658 S. Blackstone in Hyde Park recently came on the market.

It last sold just 5 months ago, in April 2012, in an estate sale.

You can see pictures of what the unit looked like then here.

Built in 1920, the building has 20 units and many features of pre-war apartments including a formal dining room and large bedroom sizes.

This unit still has some vintage features such as crown molding, built-ins and french doors.

But it has been rehabbed to modern tastes since the April sale.

The kitchen now has white cabinets, stainless steel appliances, granite counter tops and a big kitchen island.

The bathrooms have been redone with marble and porcelain finishes.

It has central air and in-unit laundry, with its own actual laundry room.

The listing says parking is by “lottery” so there is no deeded parking with the unit.

The unit sold in April for just $190,000 and is now listed after the rehab at $469,000.

Before you get in a tizzy about the price, another third floor unit in the building that was also updated sold in June 2012 for $415,000.

You can see what that unit looked like here.

Given the comp, and that everyone wants “new”, will this unit go under contract quickly?

Cindy Gutic at Brush Hill Realtors has the listing (it is agent owned). See the pictures here.

Unit #3: 4 bedrooms, 2 baths, 2600 square feet

  • No prior sales before 2012 listed in the public record
  • Sold in April 2012 for $190,000
  • Currently listed at $469,000
  • Assessments of $692 a month (includes heat, gas, cable)
  • Taxes of $6125
  • Central Air
  • In-unit washer/dryer
  • No deeded parking- but there is a “parking by lottery”
  • Fireplace
  • Bedroom #1: 15×12
  • Bedroom #2: 14×13
  • Bedroom #3: 9×11
  • Bedroom #4: 8×12
  • Laundry room: 5×5

 

 

 

Are Some Single Family Homes Still A Better Deal To Rent Than To Own? 529 W. Wrightwood in Lincoln Park

I think several of you have mentioned this 4-bedroom house at 529 W. Wrightwood in East Lincoln Park in previous threads about this neighborhood.

It came on the market in May 2012.

It is currently listed both for sale and for rent but the rental listing says the owner prefers a 6 to 9 month lease.

Built in 1906 on an extra wide lot of 41.13×49.9, it still has a bunch of its vintage features intact including an antique mantle, original inlaid floors (check out the picture of the dining room to see the floors) and stained glass.

3 of the 4 bedrooms are on the second floor along with 2 baths.

The family room and fourth bedroom along with another bath are on the lower level.

The kitchen has granite counter tops and white appliances.

The house, however, also has an attached 1-car garage, which is pretty rare for a vintage property this close to the Park, and space for a second car on the parking pad.

It also has central air.

Originally listed for $995,000, it has been reduced $46,000 to $949,000.

OR you can rent it for just $5500 a month.

Is the rental price a deal given the rents just up the street on 2/2 1200 square foot condos in the new 2550 N. Lakeview are listed at $5000 a month (plus $300 for parking)?

Or is someone also getting a deal just to buy this property? (given the location?)

Jennifer Ames at Coldwell Banker has the listing. See the pictures here.

You can see the rental listing here.

529 W. Wrightwood: 4 bedrooms, 3.5 baths, no square footage listed, 1 car garage plus parking pad

  • Sold in April 1990 for $750,000
  • Sold in January 2004 for $869,000
  • Sold in February 2008 for $915,000
  • Originally listed in May 2012 for $995,000
  • Reduced
  • Currently listed at $949,000
  • OR you can rent it for $5500 a month
  • Taxes of $14635
  • Central Air
  • Bedroom #1: 12×18 (second floor)
  • Bedroom #2: 13×11 (second floor)
  • Bedroom #3: 9×11 (second floor)
  • Bedroom #4: 8×9 (lower level)
  • Family room: 21×13 (lower level)

Good News! The Pratt Mansion Is Under Contract: 2100 W. Pratt Blvd in West Ridge

We’ve chattered about this 112-year old mansion at 2100 W. Pratt Boulevard in West Ridge several times over the last few years.

Our last chatter was in July 2012 after the bank took control of the property.

See that chatter here.

But there’s good news!

After originally being listed in January 2011 for $2.45 million and being reduced all the way down to $749,900, it has gone under contract.

Aw…shucks Groove.

No wonder you’ve been so quiet lately. Why didn’t you tell us about the big purchase?

If you recall, the house was built in 1900. The earlier listings said it was a summer home and took 4 years to complete.

The 5-bedroom home has hardwood floors throughout and 5 fireplaces.

Built on an oversize 187×150 lot, there is a 3-car garage which the prior listing said was also the original chauffeur’s quarters.

20 years ago an indoor pool was also added to the house (you can check it out in the pictures- it has now been drained.)

The kitchen has white cabinets, black counter tops but the appliances are now missing.

There is central air.

The house sits across from Warren Park’s golf course. 

Is this an indication that if you price a property “right” you can make a quick sale?

Or was this house, with that big lot, just too good to pass up?

Richard Babula at Century 21 Rainbo Realty has the listing. See the latest pictures here.

2100 W. Pratt Boulevard: 5 bedrooms, 4 baths, 3 half baths, 12,000 square feet (new listing says 8865 square feet- so maybe it is excluding the chauffeur’s apartment), 3 car garage

  • Last sold in 1900
  • Lis pendens foreclosure filed in October 2010
  • Originally listed in January 2011 for $2.45 million
  • Was still listed in March 2011 for $2.45 million
  • Reduced
  • Was listed in June 2011 at $1.89 million
  • Reduced several times
  • Was listed in January 2012 at $1.29 million
  • Reduced
  • Was listed in April 2012 at $848,000
  • Withdrawn
  • Was re-listed as “bank owned” in July 2012 at $749,900
  • Under contract
  • Taxes now $16036 (they were $14,225 previously)
  • Central Air
  • Indoor Pool
  • 5 fireplaces
  • Bedroom #1: 20×26 (second floor)
  • Bedroom #2: 15×15 (main floor)
  • Bedroom #3: 14×12 (main floor)
  • Bedroom #4: 20×19 (second floor)
  • Bedroom #5: 17×10 (second floor)

Sorry! Crib Chatter Is Taking A Sick Day But You Can Chatter About Downtown Price Declines Since 2008

I came down with a really nasty virus last night that knocked me out of commission. I thought I might be able to post at least one new post today, but I still feel equally as terrible and don’t want to even sit in front of a computer (my couch is calling instead.)

So Crib Chatter is taking a sick day today.

In the meantime, you can all chatter about the latest report on the Chicago market by the Appraisal Research.

Downtown condo prices are down 18% since 2008 but it was worse in some areas and better in some others. (Surprise, surprise – location, location, location.)

By the way- the people who said that “downtown” was defined on the south as Cermak in the other thread was correct.

A recent survey of 65 large downtown condo buildings found that resale prices on a square-foot basis fell 18 percent on average from 2008 to 2012. The Gold Coast registered the smallest decline, 11 percent, while the South Loop suffered the largest, 30 percent, according to Appraisal Research Counselors, the Chicago-based consulting firm that conducted the survey.

The disparity makes sense considering the South Loop was the epicenter of the city’s development boom — and its bust, as buyers failed to show up for many new projects after the market started falling in 2006. Overbuilding was less of a problem in the Gold Coast, an older, wealthier neighborhood.

“People talk about barriers to entry. Well, there are more barriers to entry in the Gold Coast than other markets,” said Gail Lissner, vice-president at Appraisal Research. “This sampling shows a bunch of those buildings have done very well.”

The survey covers more than 20,000 condos in the area bounded roughly by North Avenue, Cermak Road, Lake Michigan and Ashland Avenue. The area comprises about 80,000 condos, so the survey captures roughly a quarter of the total market.

Here are the losses by neighborhood:

  • Gold Coast: down 11%
  • Loop: down 12%
  • River North: down 14%
  • South Streeterville: down 17%
  • West Loop: down 22%
  • South Loop: down 30%

Not surprisingly, the Gold Coast has the highest prices, $433 a square foot this year, according to the report. The Park Tower, 800 N. Michigan Ave., led the market overall, at $760 a square foot.

Prices have risen since 2008 in just three downtown buildings: the Park Tower, where they rose 10 percent, the Regatta, a building in the Lakeshore East development, where they rose 2 percent, and the Bristol, a building at 57 E. Delaware Place, where they rose 63 percent. But the Bristol’s increase was skewed by one $6 million penthouse sale this year.

For those of you who think that the distressed sales are NOT affecting the GreenZone, you would be wrong.

Sales of foreclosed and other distressed condos have depressed prices, accounting for 28 percent of all resales in the first half of 2012, up from about 2 percent in 2008, according to the survey. Distressed sales have been a bigger issue in the South Loop, accounting for 23 out of 25 sales this year — 92 percent — in a building at 1720 S. Michigan Ave., where prices have fallen 40 percent since 2008.

Is any of this a surprise to anyone who reads Crib Chatter?

Downtown condo resale prices down 18% since 2008 [Crain’s Chicago Business, David Lee Matthews, Aug 23, 2012]