Silver Tower 3-Bedroom Duplex with Terrace Returns at a Lower Price: 303 W. Ohio

 

303 w ohio #2

This 3-bedroom duplex in the Silver Tower at 303 W. Ohio in River North just came on the market.

But most of you will probably remember it from last year when we chattered about it in April 2016.

Back then, it was listed for about double what they had paid for the unit just 6 years before.

We wondered if they’d get the price. See our chatter here.

They didn’t.

It never sold and has now returned to the market.

The new listing calls it “River North meets Santa Monica.”

A Northeast corner unit, it has 13 foot ceilings on the main level of this unit and a 1000 square foot lighted and covered terrace with a 25 foot high ceiling and city views.

The Modani outdoor furniture, Weber grill and outdoor television appear to still be included in the sale.

There’s also a deeded storage corridor on that level.

The main floor of this unit includes the living/dining room and kitchen and study.

It’s not clear from the new listing where the bedrooms are located. In the old listing, the master suite was on the second floor and the two other bedrooms on the main level. The new listing puts all three on the second floor.

The unit has a smart home upgraded thermostat and Bluetooth lighting system.

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

There’s central air, washer/dryer in the unit and 2 side-by-side deeded parking spaces are available. The prior listing said the parking was $70,000.

This unit has come back on the market reduced $249,999 to $1.15 million.

Will the new price get the sale done?

Keith Wikey at BerkshireHathaway KoenigRubloff now has the listing. See the pictures here.

Unit #1201: 3 bedrooms, 2.5 baths, duplex, now 1910 square feet (was 1800 square feet last year)

  • Sold in January 2010 for $720,500 (included 2 parking spaces)
  • Sold in July 2014 for $815,000 (included 2 parking spaces)
  • Was listed in April 2016 for $1,399,999 (2 parking spaces are $70,000 extra) = $1,469,999
  • Withdrawn in June 2016
  • Re-listed in March 2017 for $1.15 million (2 parking spaces available- still $70,000?)
  • Assessments now $1012 a month (they were $927 a month last year) (includes doorman, cable, exercise room, lawn care, scavenger, snow removal)
  • Taxes now $12,357 (they were $8890 last year)
  • Central Air
  • Washer/Dryer in the unit
  • Outdoor furniture, Weber grill and outdoor television still included in the sale?
  • Bedroom #1: 12×14 (second floor)
  • Bedroom #2: 12×10 (main level or second floor?)
  • Bedroom #3: 12×9 (main level or second floor?)
  • Study: 7×7 (main level)
  • Covered terrace: 22×41

An Outdoor Oasis in the Middle of the Gold Coast: A 3-Bedroom at 45 E. Cedar

45 e cedar

This full-floor 3-bedroom at 45 E. Cedar in the Gold Coast recently came on the market.

This building was constructed in 1996 and has 4 units and parking.

The listing says the unit has been featured in Better Homes & Gardens magazine.

There’s 10 foot ceilings, crown moldings and built-ins.

The unit has marble floors in the living room, dining room and kitchen.

The kitchen has De Guilio cabinetry and Brazilian Azul granite on the island.

There’s a walnut paneled library.

The master suite has walk-in closets.

All the bedrooms have en suite baths.

It also has central air, washer dryer in the unit and 2 indoor heated attached parking along with a private elevator.

But the crowning glory of the unit is the 1300 square foot private deck with a pergola, lighting and ceiling fans.

Will this unit sell quickly thanks to the unique outdoor space?

Mary McCauley at @Properties has the listing. See the pictures here.

Unit #200: 3 bedrooms, 3.5 baths, no square footage listed

  • Sold in September 1996 for $976,500
  • Sold in August 2000 for $2.2 million
  • Currently listed for $3.195 million
  • Assessments of $900 a month (includes exterior maintenance and snow removal)
  • Taxes of $20,528
  • Central Air
  • Washer/dryer in the unit
  • 2 heated garage parking spaces included
  • 1300 square foot private deck
  • Bedroom #1: 14×12
  • Bedroom #2: 11×10
  • Bedroom #3: 11×10

 

 

A Townhouse in a Hot Downtown Neighborhood: 1159 N. Cambridge in South Old Town

1159 n cambridge

This 3 bedroom townhouse at 1159 N. Cambridge in South Old Town came on the market in October 2016, was withdrawn, and recently was listed again.

Is this area South Old Town?

Old Cabrini Green?

North River North?

It is two stories and has a private yard and 1 car garage parking. I’m assuming this is in a common garage- but it’s unclear.

Two bedrooms are on the second floor with the third and a den on the first floor along with the living/dining rooms and the kitchen.

The kitchen has stainless steel appliances and granite counter tops.

The listing says it has new carpet and paint.

This complex was built in 2010. The HOAs are high for a townhouse and include an exercise room. The listing also says this complex has 79 units.

Is it part of the mid-rise building association behind it on Divison?

Originally listed for $539,000 last year, it has been reduced $14,000 to $525,000.

This area is constantly selling out new construction mid-rises and townhouse developments.

There’s also a new high rise apartment building being built to the east on Division near the El.

Will this sell quickly at the reduced price?

Daniel Merrion at City Point Realty has the listing. See the pictures here.

1159 N. Cambridge Unit #3: 3 bedrooms, 3 baths, 1489 square feet, 1 car garage

  • There’s no prior sales price listed but it sold in a special warranty deed in October 2011.
  • Originally listed in October 2016 for $539,000
  • Withdrawn in November 2016
  • Re-listed in February 2017 for $525,000
  • Assessments of $587 a month (includes heat, gas, exercise room, exterior maintenance, lawn care)
  • Taxes of $4720
  • Central Air
  • Washer/Dryer
  • Bedroom #1: 13×12 (second floor)
  • Bedroom #2: 12×10 (second floor)
  • Bedroom #3: 11×11 (main floor)
  • Den: 10×8 (main floor)

Are There Many Views Better Than This? A 1-Bedroom in Aqua at 225 N. Columbus

225 n columbus

This 1-bedroom in Aqua at 225 N. Columbus in Lakeshore East just came on the market.

Built in 2009, it has 82 stories and is the tallest building in Lakeshore East.

There are apartments on the lower floors and condos on the top floors. Everyone shares the amenities which includes an indoor and outdoor pool, basketball court and exercise room.

This unit isn’t your standard 700-square foot condo. It has 1209 square feet and a den.

On the 75th floor, it has panoramic north views, including of Trump Tower and the John Hancock building.

The listing says it has $60,000 in upgrades including an aluminum art wall and a media wall by Jesse Chicago.

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

The listing says the furnishings are negotiable.

This unit has central air, washer/dryer in the unit and tandem parking is available for $70,000.

If you buy it with the parking, it’s listed for $238,800 more than the 2012 purchase price at $918,800.

Will it get the premium?

Nancy Furth at Magellan Realty has the listing. See the pictures here.

Unit #7504: 1 bedroom, 1.5 baths, 1209 square feet

  • Sold in November 2012 for $680,000 (included the parking)
  • Currently listed from $848,800 (plus $70,000 for tandem parking) = $918,800
  • Assessments of $810 a month (includes heat, a/c, gas, cable, Internet, doorman, pools, exterior maintenance, scavenger, snow removal, exercise room, basketball courts, hot tubs)
  • Taxes of $10,947
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom: 14×13
  • Den: 9×9

 

Have You Always Wanted a River North Loft With a Terrace? 333 W. Hubbard

333 w hubbard

This 2-bedroom loft in the Union Square Lofts at 333 W. Hubbard in River North recently came on the market.

It’s a top floor unit with high loft ceilings but it’s missing the industrial loft look.

Outside of exposed air ducts, there are no concrete beams or exposed brick.

It does have crown molding throughout and a custom designed limestone pass through fireplace.

The kitchen and bathrooms have been remodeled.

The kitchen has custom wood cabinets, granite counter tops, Dornbracht fixtures and Wolf, Subzero and Bosch appliances.

The master suite has a walk-in closet and a limestone bath.

The loft also has a private 1000 square foot terrace that has city views.

The loft has central air, washer/dryer in the unit and one parking space is included with another one available for $40,000.

Is this loft the epitome of River North loft living?

Jennifer Mills at BerkshireHathaway KoenigRubloff has the listing. See the pictures here.

Unit #704: 2 bedrooms, 2 baths, no square footage listed

  • Sold in May 1999 for $451,500
  • Sold in July 2001 for $585,000
  • Sold in November 2005 for $617,500
  • Currently listed for $999,000 (includes one parking space with another one available for $40,000)
  • Assessments of $1246 a month (includes heat, gas, doorman, Internet, cable, exterior maintenance, scavenger, snow removal)
  • Taxes of $10,536
  • Central Air
  • Washer/dryer in the unit
  • Terrace: 1000 square feet
  • Bedroom #1: 11×18
  • Bedroom #2: 11×19

Want a Completely Renovated Vintage 3-Bedroom for Under $450,000? 725 W Sheridan in Lakeview

725 w sheridan

This 3-bedroom at 725 W. Sheridan in Lakeview just came on the market.

This courtyard building was constructed in 1924 and has 43 units and outdoor parking.

This unit has been completely renovated and now has an open kitchen with a large island.

The kitchen has custom Omega cabinets, Arctic Blue granite counter tops from Finland, Ann Sacks tile backsplash and quartz counter tops on the island.

There’s stainless steel appliances along with a wine refrigerator.

The 3 bedrooms are larger than what you might find in new construction three bedroom units.

The white oak floors have a walnut stain and the vintage trim is NOT painted.

It has a washer/dryer in the unit, space pac cooling and 2 outdoor parking spaces, which are included.

At $440,000, is this a deal for a 3-bedroom in Lakeview?

Kevin Tatum at Re/Max Edge has the listing. See the pictures here.

Unit #607: 3 bedrooms, 2 baths, 1600 square feet

  • Sold in September 1998 for $165,000
  • Sold in December 2004 for $380,000
  • Sold in May 2006 for $345,000
  • Currently listed for $440,000 (includes 2-car parking)
  • Assessments of $583 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $4590
  • No central air- but space pac
  • Washer/dryer in the unit
  • Bedroom #1: 18×18
  • Bedroom #2: 17×17
  • Bedroom #3: 16×10
  • Laundry room: 7×6

Market Conditions: January Starts Off Hot, Hot, Hot: Will 2017 Be a Record Year?

Abe Lincoln in winter 2010

The January sales numbers are out and it was another strong month. It obviously also helped that there was no snow or bitter cold during the month.

So what else is there to do? Might as well house shop.

From the Illinois Association of Realtors:

The city of Chicago saw a 9.3 percent year-over-year home sales increase in January 2017 with 1,528 sales, up from 1,398 in January 2016. The median price of a home in the city of Chicago in January 2017 was $256,000, up 12.4 percent compared to January 2016 when it was $227,750.

Sales Data Since 2006 (thanks to G for the older data):

  • January 2006: 2009 sales and median price of $258,000
  • January 2007: 1850 sales and median price of $279,900
  • January 2008: 1203 sales and median price of $290,000
  • January 2009: 918 sales and median price of $205,000
  • January 2010: 1237 sales and median price of $195,000
  • January 2011: 1034 sales and median price of $150,000
  • January 2012: 1123 sales and median price of $149,000
  • January 2013: 1521 sales and median price of $157,000
  • January 2014: 1383 sales and median price of $200,750
  • January 2015: 1348 sales and median price of $220,000
  • January 2016: 1398 sales and median price of $227,750
  • January 2017: 1528 sales and median price of $256,000

The median price really jumped year-over-year but, remember, that just indicates the “mix” that is selling city wide. More higher priced properties were closing than those on the low end.

“We came out of the gates blazing, with greater activity this January than in years past, as consumers emerged from the holidays educated, prepared and ready to make decisions,” said Matt Silver, president of the Chicago Association of REALTORS® and partner at Urban Real Estate. “Our year-over-year numbers continue to demonstrate the strength of the Chicago market, as properties are being snatched up at a pace rarely seen, with higher prices across the board and rising interest rates – trends that will continue (barring ongoing inventory concerns) into the active spring season.”

“Illinois median prices have already recovered to the pre-bubble levels while those in the Chicago PMSA are very close,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “Forecasts for median prices and the REAL Housing Price Indices (REAL HPI) also indicate moderate annual growth for both Illinois and the Chicago PMSA with a slightly stronger growth forecast by the REAL HPI for the next three months.”

Inventory continues to be tight. We chattered about this last year and it has actually gotten worse. Statewide, the average time it took to sell a home was 69 days, down from 79 days.

Mortgage rates remained higher but haven’t continued to rise since the initial November surge. The 30-year fixed mortgage rate averaged 4.15% this year versus 3.87% in January of 2016.

It looks like more inventory just isn’t going to be a reality.

What does that mean for buyers?

Will every purchase in the GreenZone be a bidding war?

How high will prices soar this year as a result?

January brings uptick in Illinois home sales and prices [Illinois Association of Realtors, Press Release, February 22, 2017]

 

What It Takes to Renovate a 39-Year Old Condo in the Gold Coast: 1230 N. State Parkway

1230 n state parkway #2

This 2-bedroom in State Tower at 1230 N. State Parkway in the Gold Coast recently came on the market.

Built in 1979, the building has 92 units with balconies and a heated parking garage along with a doorman.

It also has a rare Gold Coast feature: 9 outdoor parking spaces available on a first come, first served basis behind the building for guests.

This unit had a “luxury renovation” in 2016.

There is porcelain tile throughout the main living space.

The kitchen has a farmhouse sink, custom cabinets, luxury appliances by Wolf and Subzero and Italian Statuario marble.

There is a master suite where the bathroom features floor to ceiling marble and a double shower.

The unit has custom closets, designer lighting and plantation shutters throughout.

It has an east facing balcony with city views, central air, washer/dryer in the unit and parking is available for $55,000.

After the renovation, is this unit now able to compete with nearly new condos on the market at the same price point?

1230 n state parkway #1

Ashley Cox at d’aprile properties has the listing. See the pictures here.

Unit #21B: 2 bedrooms, 2 baths, no square footage listed

  • Sold in June 1995 for $225,000
  • Sold in January 2000 for $290,000
  • Sold in March 2000 for $370,000
  • Sold in January 2005 for $470,000
  • Sold in December 2013 for $422,500
  • Currently listed for $575,000 (plus $55,000 for parking)
  • Assessments of $951 a month (includes heat, a/c, gas, doorman, cable, exercise room, exterior maintenance, scavenger and snow removal)
  • Taxes of $5911
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×13
  • Bedroom #2: 10×13

Lakeview Duplex Down Goes from Housing Bust to Hot Home: 3816 N. Fremont

3816 n fremont #1

This 4-bedroom duplex down a greystone at 3816 N. Fremont in Lakeview just came on the market.

Built in 1901, it has 4 units.

Some of you may remember it from the housing bust years of 2008 and 2009 as we chattered about it several times.

It took 14 months to finally sell in 2009 and it sold for less than the 2007 purchase price.

We got into a spirited discussion of how much the seller “lost” and some actually compared it to owning bank stocks. Those were the days.

See our chatter here.

This greystone was renovated in 2007.

The listing says it has a “gourmet” kitchen with cherry cabinets, granite counter tops and luxury appliances including Wolf, Bosch and Subzero.

Two of the 4 bedrooms are on the main level, including the master suite, with two other bedrooms in the lower level.

This unit was a 3-bedroom when we last chattered about it but it looks like one of the rooms in the lower level is now being called a bedroom even though it appears, from the floor plan, not to have a closet.

There’s a lower level family room and two gas fireplaces.

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

There’s also a private roof deck on top of the garage.

This unit has sold twice more since our 2009 chatter. Both of those were still under the 2007 sales price.

It is now priced at $799,000. If it gets it, it will be the highest sale in 10 years.

Redfin calls this a “hot home.”

Are new record highs on tap this year for most of the GreenZone?

3816 n fremont #2

Ron Knoll at @Properties has the listing. See the pictures and floor plan here.

Unit #1: 4 bedrooms, 3 baths, duplex down, no square footage listed

  • Sold in June 2007 for $717,500
  • Originally listed in February 2008 for $775,000
  • Reduced several times
  • Was listed in July 2008 for $738,900 (parking included)
  • Reduced
  • Was listed in January 2009 at $729,000 (parking included)
  • Sold in April 2009 for $700,000 (parking included)
  • Sold in June 2012 for $629,000
  • Sold in March 2014 for $635,000
  • Currently listed for $799,000 (parking included)
  • Assessments are now $250 a month (they were $154 a month in 2009) – includes exterior maintenance, scavenger and snow removal
  • Taxes are now $11,636
  • Central Air
  • Washer/Dryer in the unit
  • 2 gas fireplaces
  • Private deck on the garage: 20×16
  • Bedroom #1: 14×14 (main level)
  • Bedroom #2: 10×10 (main level)
  • Bedroom #3: 16×12 (lower level)
  • Bedroom #4: 14×9 (lower level)

Priced Out of Single Family Homes in Lincoln Park? A Townhouse at 1149 W. Armitage

1149 w armitage

This 3-bedroom townhouse at 1149 W. Armitage in Lincoln Park just came on the market.

Built in 1997, this is a 4-unit townhouse complex, each with attached 1-car garages.

This particular unit is the front townhouse which faces Armitage and has 3 exposures.

It’s 4 stories and has 3 outdoor spaces including a roof deck.

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

The listing says all three bedrooms have en suite baths.

One bedroom is on the main floor with the garage and the two others are on the third floor.

The kitchen, living and dining room are on the second floor with a den on the fourth floor.

It has central air.

The townhouse appears to be fee simple with the HOA only covering exterior maintenance and scavenger.

It’s located just steps away from the Armitage and Clybourn shops and restaurants and is about 8 blocks to the Armitage Brown Line stop.

At $699,000, is this a smart way to get a foothold into this expensive neighborhood?

Austin Pearson at Pearson Realty Group has the listing. See the pictures here.

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

  • Sold in January 1997 for $352,000
  • Sold in December 2001 for $560,000
  • Sold in June 2012 for $603,000
  • Currently listed for $699,000
  • Assessments of $83 a month (includes exterior maintenance and scavenger)
  • Taxes of $11049
  • Central Air
  • Roof top deck
  • Bedroom #1: 14×15 (third floor)
  • Bedroom #2: 9×20 (third floor)
  • Bedroom #3: 8×11 (main floor)
  • Kitchen: 12×11 (second floor)
  • Den: 6×14 (fourth floor)