A New Peak Price for 2-Bedroom Lincoln Park Townhouses? 1814 N. Bissell

1814 n bissell approved

This 2-bedroom townhouse at 1814 N. Bissell in Lincoln Park recently came on the market.

If it looks familiar, it’s because we chattered about it twice in 2010 and 2011.

It was bank owned in June 2010 and sold for $19,720 under the 1999 sales price.

Five months later, it came back on the market as a gut rehab with a new kitchen and baths.

The kitchen has still has the same white cabinets, granite counter tops and stainless steel appliances as it did in 2010.

The bathrooms were renovated in 2010 with marble.

The floors are the popular dark stained wood floors.

There is a small outdoor space on the first floor (leading to a shared garage) along with a back deck off the master bedroom.

The two bedrooms are not on the same floor. The master bedroom is on the top floor and the second bedroom one floor down, on the third level.

Yes, that’s the El brown/purple line running directly behind the townhouse.

The original renovator tried to get $449,000 in 2010’s market but ended up selling for $425,000.

Some of you thought that the 2010-2011 buyer overpaid.

See our interesting chatter here about living on the El line, how 2011 was a “bubble” again and other topics.

The townhouse has come back on the market at a new peak price for this unit: at 29.2% higher than the 2011 purchase price at $549,000.

If some of you thought the 2011 price was a new bubble, what about now?

How high will prices on 2-bedroom Lincoln Park townhouses go in this hot market?

Emily Smart LeMire at Coldwell Banker has the listing. See the pictures here.

1814 N. Bissell: 2 bedrooms, 2 baths, 1 car parking, no square footage listed

  • Sold in April 1989 for $182,500
  • Sold in December 1999 for $239,720
  • Lis pendens filed in April 2006
  • Bank owned in May 2009
  • Sold in June 2010 for $220,000
  • Was listed in November 2010 for $449,900
  • Sold in February 2011 for $425,000
  • Currently listed for $549,000
  • Assessments still $100 a month
  • Taxes are now $7602 (they were $4405 in November 2010)
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×13 (third floor)
  • Bedroom #2: 16×10 (second floor)
  • Kitchen/living room on the main level
  • Family room: 16×16 (lower level)

Is the South Loop the Best Deal in the GZ? A 1-Bedroom at 1307 S. Wabash

1307 s wabash

This 1-bedroom loft in 1307 S. Wabash in the South Loop first came on the market in April 2014.

While this is a loft, it doesn’t have the features many loft lovers look for.

There’s no timber, exposed beams or exposed brick.

But it does have high ceilings and a unique boxed ceiling and original hardwood floors.

The kitchen has maple cabinets and a combination of stainless steel and black appliances.

Although it only has 1-bedroom, it also has a den and 2 full bathrooms.

The unit has the other features buyers look for including central air, washer/dryer in the unit and parking is available for $30,000.

At $289,000, it appears more affordable than any of the new luxury rentals.

Is the South Loop the best deal in the GreenZone?

Izabela Sloma at Sergio & Banks has the listing. See the pictures here.

Unit #304: 1 bedroom, 2 baths, no square footage listed

  • Sold in April 2000 for $175,000
  • First listed in April 2014
  • Was listed in March 2015 for $279,000
  • Reduced
  • Currently listed for $259,000 (plus $30,000 for parking)
  • Assessments of $392 a month (includes cable and internet)
  • Taxes of $3457
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×11
  • Den: 11×9

 

Do You Need a Parking Space in River North? A 2-Bedroom Loft in 300 W. Grand

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This 2-bedroom loft in 300 W. Grand in River North recently came on the market.

Most of the River North loft buildings were converted a considerable time ago- with many converted in the 1990s including this building.

That means the finishes are usually dated.

But this loft has been rehabbed. The listing says it has had over $100,000 in renovations.

That includes a new kitchen and bathrooms.

The listing describes the kitchen as a “custom chef’s kitchen” with commercial grade stainless steel Viking appliances and a wine fridge.

The loft has 13 foot high ceilings with wood beams and exposed brick walls.

This unit is on the preferred south side of the building which means its views and light are not blocked by The Silver building on Ohio.

The loft has central air and washer/dryer in the unit but I don’t see anything in the listing about parking. There is parking in the building (and also in the building next door, actually) but not every unit has a parking space.

With multiple bus lines and El stops and shopping within walking distance, and Uber on call, do buyers even need a parking space in River North?

Quin O’Brien at 4 Sale Realty has the listing. See the pictures here.

Unit #208: 2 bedrooms, 2 baths, 1200 square feet

  • Sold in April 2002 for $299,000
  • Sold in January 2006 for $345,000 (no parking listed in the public records)
  • Lis pendens foreclosure filed in January 2010
  • Looks like it was bank owned in 2011
  • Sold in October 2012 for $275,000
  • Rehabbed
  • Currently listed for $535,000
  • Assessments of $430 a month
  • Taxes of $4210
  • Central Air
  • Washer/Dryer in the unit
  • No parking
  • Bedroom #1: 23×12
  • Bedroom #2: 16×12

 

 

 

Still Distressed Properties Out There: A Loft at 550 N. Kingsbury in River North

550 n kingsbury

This 1-bedroom loft at 550 N. Kingsbury in River North came on the market in early June 2015.

This brick and timber loft is one of the rare units that is actually “on” the river. It has a large private terrace that runs the length of the unit nearly at water level.

From the pictures, it looks like the kitchen is intact with maple cabinets, granite counter tops and stainless steel appliances.

It has an in-unit washer/dryer which is seen in one of the pictures.

The loft also has a double sided fireplace, central air, and 2-car tandem parking.

It last sold near the peak of the housing bubble in 2005 but two lis pendens were filed, in 2007 and 2008.

The bank finally took the unit back in February 2015.

These units with the big terraces were always considered more valuable than the other river side units during the boom years.

But it’s now listed $82,000 below the 2005 price at $429,300.

Has living directly on the river lost its prestige in the last 10 years?

Seng Phosaraj at Carrington Real Estate Services has the listing. See the pictures here.

Unit #R03: 1 bedroom, 2 baths, no square footage listed

  • Sold in January 2003 for $465,000
  • Sold in June 2005 for $512,000
  • Lis pendens filed in June 2007
  • Lis pendens filed in April 2008
  • Bank owned in February 2015
  • Currently listed for $429,300
  • Assessments of $544 a month (includes doorman, cable)
  • Taxes of $4787
  • Central Air
  • Washer/Dryer in the unit
  • Tandem parking included
  • Bedroom: 13×12

 

Live in the Hottest Neighborhood: The Shoemaker Lofts at 3963 W. Belmont in Avondale

3963 w belmont approved

This 2-bedroom penthouse loft in The Shoemaker Lofts at 3963 W. Belmont in Avondale came on the market in May 2015 and is already under contract and pending.

Out of 175 units, there are 4 units currently on the market in the building and all 4 are under contract.

5 units have already closed so far this year.

This is an old Florsheim shoe factory that was converted at the height of the bubble in 2007.

We’ve chattered about foreclosures and short sales in the building before.

But that was then, and this is now.

Avondale is now considered one of the hottest neighborhoods in the city as buyers move north from the more expensive Logan Square.

This penthouse unit with south and east city views has concrete ceilings and exposed brick with floor to ceiling factory windows.

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

The master suite bathroom has a double vanity.

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

Prices aren’t quite back to peak however.

This loft was listed about $55,000 under its 2007 purchase price.

Will this building ultimately be a gold mine for buyers?

Michael Shenfeld at Berkshire Hathaway KoenigRubloff has the listing. You can still see the pictures here.

Unit #508: 2 bedrooms, 2 baths, no square footage listed

  • Sold in May 2007 for $325,500
  • Listed in May 2015 for $270,000 (included the parking)
  • Under contract and pending
  • Assessments of $330 a month (includes doorman)
  • Taxes of $2256
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×12
  • Bedroom #2: 11×10

 

Remember University Commons? A 2/2 at 1111 W. 15th in University Village

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This 2-bedroom top floor unit in University Commons at 1111 W. 15th Street in University Village came on the market in March 2015.

University Commons is a 6 building mega-development with about 824 units that was originally sold at the peak of the market in 2007-2008.

Most of the units have loft features including exposed brick and exposed concrete ceilings and pillars.

This unit, however, appears to have traditional condo features. Were these built on top of the building at the time of the conversion?

The south facing unit’s kitchen has cherry cabinets, granite counter tops and stainless steel appliances.

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

Originally listed for above the 2007 purchase price, it has since been reduced under that price.

But others in this complex have sold for near peak prices in the last 6 months.

Is it another sign of how hot the Chicago housing market is?

Monique Washington at Coldwell Banker has the listing. See the pictures here.

Unit #409: 2 bedrooms, 2 baths, 1217 square feet

  • Sold in March 2007 for $348,500
  • Originally listed in March 2015 for $355,000
  • Reduced
  • Currently listed at $324,900 (includes the parking)
  • Assessments of $402 a month (includes cable, pool, clubhouse, exercise room)
  • Taxes of $4064
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×12
  • Bedroom #2: 11×11
  • Den: 9×10

Looking for a 4-Bedroom Family Condo in the Gold Coast? 1411 N. State Parkway

1411 n state parkway

This 4-bedroom vintage unit at 1411 N. State Parkway in the Gold Coast originally came on the market in August 2014.

It has crown molding and a wood burning fireplace in the living room.

The listing says the kitchen has been “renovated” and has white cabinets, stone counter tops and stainless steel appliances.

There’s a master suite which the listing says has a new bath, also with white cabinetry and tile. (white is in!)

There is a 31×20 family room on the second level with access to outdoor space.

It has the features buyers look for including an in-unit laundry room, central air and an attached garage space.

It’s also an elevator building.

At 3585 square feet, it’s as large as many single family homes.

Is this a good alternative for families that want the condo lifestyle instead of the maintenance of a house?

Brad Lippitz at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #S3: 4 bedrooms, 3 baths, 3585 square feet

  • Sold in February 2008 for $1.75 million
  • Originally listed in August 2014 for $1.9 million
  • De-listed in December 2014
  • Re-listed at the end of May 2015 for $1.799 million
  • Assessments of $1842 a month (includes snow removal)
  • Taxes of $19182
  • Central Air
  • Washer/Dryer in the unit
  • Attached garage parking included

California Living in Lakeview: A 2/2 at 2846 N. Southport

2846 n southport

This top floor 2-bedroom at 2846 N. Southport in Lakeview came on the market in early May.

This building has 6 units and is a rare mid-rise building with an elevator.

After the last couple of winters, it also has a much-sought after attached garage.

This listing describes the unit as “California chic in Chicago” because it is now painted all white.

The unit sold just 5 months ago and at that time it had dark walnut built-in bookcases and maple cabinets in the kitchen.

You can still see those pictures here.

Both are now white, along with almost everything else in the unit.

The kitchen appears to have the same dark granite counter tops as before and still has stainless steel appliances, however.

The listing says there is a “brand new master bath.”

The other bathroom now has a white vanity.

It’s also in the Burley school district, which the listing puts in all caps: BURLEY SCHOOL DISTRICT.

This unit was under contract within 10 days of listing but has now come back on the market at the same price.

Is the school district really that important for this property?

Are parents now buying $570,000 2-bedroom condos in the city instead of moving directly to the suburban home?

Elizabeth Kucich at @Properties has the listing. See the pictures here.

Unit #3S: 2 bedrooms, 2 baths, 1670 square feet

  • Sold in April 2002 for $487,500
  • Sold in January 2015 for $532,000
  • Originally listed in early May 2015 for $570,000
  • Under contract
  • Re-activated in late May 2015 at $570,000
  • Assessments of $361 a month
  • Taxes of $5393
  • Central Air
  • Washer/Dryer in the unit
  • Attached garage parking included
  • Bedroom #1: 16×15
  • Bedroom #2: 13×11

$500,000 for a 2-Bedroom Loft in River North: 520 W. Huron

520 w huron

This 2-bedroom loft in 520 W. Huron in River North just came on the market.

It has many of the features loft lovers look for including exposed brick and exposed wood beams.

The listing says it is a brick and timber loft, yet the ceilings are drywalled.

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

The listing says the unit has new wood doors.

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

Listed at $499,900, that is past the peak price for this unit which was 2007’s sale of $463,000.

Is $500,000 the new norm for 2/2 lofts in River North?

Jennifer Lea at Dream Town Realty has the listing. See the pictures here.

Unit #518: 2 bedrooms, 2 baths, 1324 square feet

  • Sold in December 1999 for $267,000
  • Sold in January 2003 for $357,000
  • Sold in January 2007 for $463,000
  • Sold in September 2013 for $420,000
  • Currently listed for $499,900
  • Assessments of $522 a month (includes cable)
  • Taxes of $5653
  • Central Air
  • Washer/Dryer in the unit
  • Parking included
  • Bedroom #1: 16×11
  • Bedroom #2: 14×11

24.3% Past Peak in River North: A 2/2 in The Sterling at 345 N. LaSalle

345 n lasalle approved

This 2-bedroom in The Sterling at 345 N. LaSalle in River North just came on the market.

The Sterling is a 389 unit building which was built originally as apartments and then converted into condos at the peak of the boom in 2007.

In many units, kitchens and baths were left unchanged from the apartment finishes.

A lot of investors bought in the building originally.

We have chattered extensively over the years about the foreclosures in the building. You can see one of the posts here.

This unit faces south and east on the curve and has had some upgrades.

The listing says it has new hardwood floors and stainless steel appliances.

The kitchen has granite counter tops and white cabinets. The listing doesn’t say the cabinets are new, so, apparently, those just must be painted.

The bathrooms appear to be original with white tile and vanities.

The listing says there’s a new washer/dryer.

The Sterling is a full amenity building with a doorman, an outdoor pool, and an exercise room.

There is no deeded parking but there is an attached garage where spaces can be rented for around $300 a month.

At $459,900, it is the most expensive unit listed in the building. However, the 2/2 directly under it, Unit #2006, is listed at the same price and is under contract.

If it sells for its list, it will close 24.3% above its 2007 selling price.

Are we only at the beginning of new cycle highs in Chicago’s housing market?

Amy Pritchard at Jameson Sotheby’s has the listing. See the pictures here.

Unit #2106: 2 bedrooms, 2 baths, 1200 square feet

  • Sold in June 2007 for $370,000
  • Currently listed for $459,900
  • Assessments of $552 a month (includes heat, a/c, doorman, pool)
  • Taxes of $4184
  • Parking is leased in the building between $284 and $300 a month
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×10
  • Bedroom #2: 11×10