9 Months on the Market for this Lincoln Park 2-Bedroom: 1300 W. Altgeld

1300 w altgeld #2

This 2-bedroom in Altgeld Court at 1300 W. Altgeld in Lincoln Park first came on the market in March 2017.

Converted into condos in 1991, it has 44 units and gated, outdoor parking.

This building is kind of a hybrid loft/condo mix.

The unit has high, industrial style ceilings with floor to ceiling windows, and some exposed brick.

The listing says this is a rare end unit with east, south and west exposures.

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

There’s a marble master bathroom.

I can’t tell from the pictures if there are windows in either bedroom. There are only pictures of one of the bedrooms and there are no windows shown in that shot.

There’s a second private entrance which leads to a 250 square foot private patio.

It has central air, washer/dryer in the unit and rare 2-car parking, which is gated.

This unit was listed in March 2017 for $579,000 and has been reduced $40,000 to $539,000 but still hasn’t sold.

With inventory near all time lows, why isn’t this selling?

Michelle Lezotte at @Properties has the listing. See the pictures here.

Unit #115: 2 bedrooms, 2.5 baths, no square footage listed

  • Sold in October 1991 for $191,000
  • Sold in June 1996 for $225,000
  • Sold in April 2000 for $325,000
  • Sold in September 2005 for $470,000
  • Originally listed in March 2017 for $579,000
  • Reduced
  • Currently listed at $539,000 (includes 2-car gated parking)
  • Assessments of $383 a month (includes exterior maintenance and scavenger)
  • Taxes of $7191
  • Central Air
  • Washer/dryer in the unit
  • Bedroom #1: 15×12
  • Bedroom #2: 12×11

 

A Rare 4-Bedroom Condo in the Heart of the Gold Coast: 1411 N. State Parkway

1411 n state parkway

This 4-bedroom at 1411 N. State Parkway in the Gold Coast came on the market in March 2017.

This 13 unit vintage mid-rise building is unique in the Gold Coast because it has an elevator.

This unit has a formal entry way, built-ins, crown molding and a wood burning fireplace.

There’s a gallery hallway.

The kitchen is “new” and has white custom cabinets, eat-in space and top end stainless steel appliances.

It has the much sought after 4 bedrooms with a master suite that has a bath and a separate sitting room.

There’s outdoor space in the form of a 15×6 terrace that overlooks State Parkway.

The unit has the other features buyers look for including parking, a real laundry room and space pak cooling.

The building doesn’t have a doorman but it does have a live-in engineer.

Listed in March 2017 for $1.825 million, it has been reduced $60,000 to $1.765 million.

4-bedroom condos are hard to find, especially with all the other features like parking.

This unit has been on the market 9 months now.

Even though overall inventory is at multi-year lows, are there too many luxury properties on the market?

Emily Sachs Wong from @Properties has the listing. See the pictures here.

Unit #2N: 4 bedrooms, 3 baths, 2700 square feet

  • Sold in March 1996 for $915,000
  • Sold in June 2013 for $1.35 million
  • Originally listed in March 2017 for $1.825 million
  • Reduced
  • Currently listed at $1.765 million (includes one parking space)
  • Assessments of $1959 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $21,006
  • Space pak cooling
  • Washer/dryer in the unit
  • Wood burning fireplace
  • Elevator building
  • Bedroom #1: 17×15
  • Bedroom #2: 14×13
  • Bedroom #3: 14×11
  • Bedroom #4: 14×12
  • Sitting room: 13×11
  • Laundry room: 11×7
  • Terrace: 15×6

 

A Renovated Vintage 3-Bedroom With Park and Lake Views: 399 W. Fullerton in Lincoln Park

399 w fullerton approved

This 3-bedroom at 399 W. Fullerton Parkway in Lincoln Park came on the market in February 2017.

This building was constructed in 1927 and has just 32 units along with valet parking.

The listing says this 3-bedroom has been renovated.

It has herringbone hardwood floors in all the living and bedroom spaces.

There are vintage features including moldings, arched doorways and there’s a custom fireplace in the living room.

The kitchen has custom white cabinets, stainless steel counter tops, luxury appliances and heated Belgian limestone floors with an adjacent breakfast room and a butler’s pantry.

There’s a master suite with a spa bath that has a towel warmer.

And if you like custom closets, then check out the room-sized closet in the master suite.

The other two bedrooms also have en suite baths.

There’s a den and a half bath.

The unit appears to have space pak cooling. It also has a side-by-side washer/dryer in a 6×4 laundry room.

In addition to the valet parking, there’s also a gym and full staff.

This is a co-op but it’s unclear from the public listing if the taxes are included in the HOA.

Originally listed for $2.2 million, it has been reduced $450,000 to $1.75 million.

Buyers love move-in ready properties.

Why isn’t this selling?

Emily Sachs Wong at @Properties has the listing. See the pictures here.

Unit #11E: 3 bedrooms, 3.5 baths, 3300 square feet, co-op

  • No prior selling price since it’s a co-op
  • Originally listed in February 2017 for $2.2 million
  • Reduced
  • Currently listed for $1.75 million
  • Assessments of $2973 a month (includes heat, a/c, gas, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes are $10,464 (included in monthly fee or not?)
  • Central air- but looks to be space pak
  • 1 car parking included (valet)
  • Washer/dryer in the unit
  • Fireplace
  • Bedroom #1: 20×13
  • Bedroom #2: 13×12
  • Bedroom #3: 11×10
  • Laundry room: 6×4
  • Den: 18×11
  • Walk-in closet: 19×10

Reductions on New Construction Luxury Lofts in the Loop: 223 W. Lake

223 w lake front door

These 8 new construction luxury lofts at 223 W. Lake in the Loop came on the market in June 2017.

We last chattered about them in July.

You can read our chatter here.

If you recall, this building was constructed in 1895.

These units have all the features that loft lovers look for including tall reclaimed wood ceilings, exposed brick walls and iron and glass double paned window as the El line runs right in front of the building.

These lofts are all 3 bedroom, 3.5 baths. There are 2 units per floor, one facing north (towards the El) and one facing south (towards office buildings).

The 2 penthouse units each have private rooftop terraces.

They have chef kitchens with white modern cabinets and stainless steel appliances.

The bathrooms are also in the modern style.

There are light wood floors throughout.

From pictures and the 3D tours, it appears that each of the bedrooms have windows, although it looks like they are all frosted for privacy.

Each loft has a private elevator entry. The building has a heated garage but no doorman.

This block of Lake contains several historic brick buildings, including one with a Chipotle on the first floor, as well as Monk’s Pub, one of the oldest restaurants in the loop.

223 w lake monks pub

It appears none of these lofts have sold.

But recently 5 of the 8 lofts saw price reductions  including the following:

  • Unit #4S: Originally $1.86 million but now reduced 10% to $1.674 million
  • Unit #3S: Originally 1.86 million but now reduced 10% to $1.674 million
  • Unit #3N: Originally $1,472,500 but now reduced 5% to $1.55 million
  • Unit #2S: Originally $1.7 million but now reduced 10% to $1.53 million
  • Unit #2N: Originally $1.48 million but now reduced 5% to $1,406,000

Neither of the penthouses nor #4N have been reduced.

  • Unit #PHN: Still $2.34 million
  • Unit #PHS: Still $2.34 million
  • Unit #4N: Still $1.82 million

By Thanksgiving, the market will be in holiday/winter mode where sales slow.

Will these price reductions get the job done before 2018?

223 w lake building

Helaine Cohen at Berkshire Hathaway KoenigRubloff is still handling all the listings. You can see pictures of the penthouse here.

Or you can see the 3D tour with floor plan here.

PH-N: 3 bedrooms, 3.5 baths, 2718 square feet

  • New construction
  • Originally listed in June 2017 for $2.34 million
  • Currently still listed at $2.34 million
  • Assessments of $679 a month (includes heat, A/C, scavenger, exterior maintenance and snow removal)
  • Taxes are “new”
  • 1 car heated garage included
  • Bedroom #1: 36×14
  • Bedroom #2: 26×14
  • Bedroom #3: 26×10
  • Rooftop Deck: 35×19

Rare Chance to Build “New” in East Lincoln Park: 2106 N. Hudson

2106 n hudson

This single family home at 2106 N. Hudson in East Lincoln Park recently came on the market (sorry about the bad picture).

Some might remember it if looking in Lincoln Park, as it was also listed early in 2017 and sold a month later, in February.

Built in 1886, it appears to have some kind of landmark designation.

From the prior listing, which called it a “writer’s cottage”:

“R5 zoning allows for SFH or multi-unit construction of over 6,000sf above grade. Landmarked facade eligible for property tax reduction w/ 8yr tax freeze to someone willing to invest at least $35,000 into the home. A tremendous opportunity for the right owner occupant or investor or developer to consider.”

It is on a 25×135 lot.

The current listing says “create your dream East Lincoln Park home.”

There are no interior pictures with the listing.

After being owned by the same family since 1993, it was listed in January 2017 for $799,900 and sold in February 2017 for $860,000.

It has now come back on the market for $1.2 million.

Are East Lincoln Park historic lots this hot that it can command this price increase less than a year later?

Emily Sachs Wong at @Properties has the listing. See the one picture here.

2106 N. Hudson: listing says 5/3.5 bath, 5000 square foot house could be built here

  • Owned by same owner since 1993
  • Listed in January 2017 for $799,900
  • Sold in February 2017 for $860,000
  • Currently listed for $1.2 million
  • Taxes are $13,381
  • 25×135 lot

$1 Million for This New Construction 3-Bedroom Condo at Diversey and Lincoln in Lakeview: 2800 N. Lincoln

2800 n lincoln

This 3-bedroom penthouse at 2800 N. Lincoln in Lakeview recently came on the market.

This is a new construction building by Noah Properties on what used to be a parking lot.

It’s on the corner of the 3 street intersection at Diversey, Racine and Lincoln in South Lakeview. Across the street is a Gino’s East pizzeria.

This is a 7 unit building, with 6 residential units and 1 commercial unit on the first floor, along with an indoor garage.

Each unit is a single floor 3-bedroom, 2 bath unit.

There’s an elevator with private entry into each unit.

This penthouse is 2100 square feet and also has a private rooftop deck with a wet bar and beverage cooler with 360 degree views of the city as the building just clears the buildings to the south.

The listing also says you can take the elevator directly from the garage up to the rooftop deck. I’m assuming that means there is no interior staircase to get up there. You have to hop into the elevator to get to the rooftop deck.

The developer has built a model unit, which has dark wide plank wood floors throughout along with floor to ceiling windows.

The kitchen has white modern cabinets and stone counter tops.

The master bath has a steam shower and body sprays along with heated floors.

The unit has a laundry room and a covered front terrace, measuring 19×13.

3 out of the 6 units are already under contract:

  • #4N: $1,009,900 under contract
  • #4S: $999,900
  • #3N: $959,900
  • #3S: $949,900
  • #2N: $909,900 under contract
  • #2S: $899,900 under contract

This building is in the Agassiz Elementary school district.

Is Lakeview now a neighborhood where only luxury housing will be built going forward?

And who is the target buyer of these units?

Melissa Govedarica at Sergio & Banks has the listing. See the pictures here.

Unit #4S: 3 bedrooms, 2 baths, 2100 square feet, penthouse

  • New construction
  • Currently listed for $999,900 (includes garage parking)
  • Assessments aren’t listed
  • Taxes are “new”
  • Bedroom #1: 14×13
  • Bedroom #2: 12×11
  • Bedroom #3: 13×12
  • Laundry room: 8×6
  • Utility room: 4×3
  • Terrace: 19×13
  • Balcony off master bedroom: 12×5
  • Rooftop deck: 35×17

 

 

You Can Still Get a 2/2 in Lincoln Park With Views for Under $400K: 345 W. Fullerton Parkway

345 w fullerton

This 2-bedroom at 345 W. Fullerton Parkway in Lincoln Park came on the market in August 2017.

These buildings were constructed in 1972 and has 216 units along with rental parking.

The listing for this unit says “just completed rehab.”

The kitchen has new quartz countertops and stainless steel appliances with white cabinets.

The bathrooms have quartz vanities with vessel sinks.

The living room and bedrooms have new carpet and there are hardwood floors in the entry way and kitchen.

This unit has straight on views of Lincoln Park.

It has central air and “rare” washer/dryer in the unit (as not all the units have it.)

Parking is rental in the building.

Listed at $324,900 in August, it is now listed higher at $339,900.

Thinking of buying to rent it out? Other listings in the building, that have closed recently, said there was a rental cap with a wait list for renting.

At under $340,000, is this a deal for someone looking for a 2/2 in East Lincoln Park?

Kyle Miller at Carl Miller & Son has the listing. See the pictures here.

Unit #1208: 2 bedrooms, 2 baths, 1100 square feet

  • Sold in February 1993 for $140,000
  • Sold in May 2005 for $296,000
  • Sold in June 2010 for $245,000
  • Originally listed in August 2017 for $324,900 (per Zillow)
  • Raised
  • Currently listed for $339,900
  • Assessments of $787 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal)
  • Taxes of $5147
  • Central Air
  • Washer/dryer in the unit
  • Parking is rental for $175-$215
  • Bedroom #1: 16×12
  • Bedroom #2: 11×10
  • Living room: 24×14
  • Dining room: 8×7

 

Looking for a Duplex Penthouse with a Private Roof Deck? 40 E. 9th in the South Loop

40 e 9th

This 3-bedroom penthouse in Burnham Park Plaza at 40 E. 9th in the South Loop recently came on the market.

It’s a duplex that acts like a single family home or a townhouse.

The main level is an open concept with the living/dining and kitchen, the 3 bedrooms and a den.

The kitchen has stainless steel appliances, dark cabinets, and what looks like granite counter tops.

The second floor has a 26×24 great room, which could possibly be a fourth bedroom as there is a full bath as well as a closet.

The second floor also has a huge 26×46 wraparound private roof deck with city views.

It has central air and washer/dryer hook up in the unit (not sure why you wouldn’t install this if the hook-ups are there). The assessments include the heat and air.

The unit also has 2 car deeded garage parking included.

Back in the bust, this unit became bank owned in 2010. They couldn’t sell it but finally did at an auction sale in 2011 for $365,500.

It has come back on the market for $675,000.

Has the market finally healed itself from the bust?

Patrick Natale at Coldwell Banker has the listing. See the pictures here.

Unit #1916: 3 bedrooms, 4 baths, no square footage listed, duplex up

  • Sold in September 2006 for $1.55 million
  • Bank owned in February 2010
  • Listed but didn’t sell
  • Finally sold at auction in March 2011 for $365,500
  • Currently listed for $675,000 (2 car parking included)
  • Assessments of $2191 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $14,313
  • Central Air
  • Washer/Dryer hook-ups in the unit
  • Bedroom #1: 15×29 (main level)
  • Bedroom #2: 15×10 (main level)
  • Bedroom #3: 11×8 (main level)
  • Den: 13×8 (main level)
  • Family room: 26×24 (second level)
  • Deck: 26×46

 

 

Is 4-Bedroom Condo Demand Weakening? 3760 N. Fremont in Lakeview

3760 n fremont

This 4-bedroom penthouse at 3760 N. Fremont in the Wrigleyville neighborhood of Lakeview has been on the market since May 2017.

Built in 1999, the building has 3 units and garage parking.

This is the preferred layout with a duplex up.

It has 18 foot cathedral ceilings in the living room and a all purpose loft on the second floor.

The unit has a private rooftop deck with views of Wrigley Field and the city in the distance. It has a wood pergola and planters.

There’s a master suite with a walk-in closet on the second floor and a second master suite on the first floor.

The kitchen has granite counter tops and stainless steel appliances. It also has maple cabinets, but there are pictures in the listing that show those cabinets painted white. (Complaints from possible buyers that they’re not white???)

There’s central air and garage parking is included.

Since May, this unit has been reduced $50,000 to $689,000. That is below the 2007 sales price of $725,000.

With so many new 3 and 4 bedroom units on the market in Lakeview, can these older construction condos compete?

Danielle Wylie at Baird & Warner has the listing. See the pictures here.

Unit #3: 4 bedrooms, 3 baths, 3000 square feet

  • Sold in January 2000 for $550,000
  • Sold in July 2002 for $669,000
  • Sold in June 2007 for $725,000
  • Originally listed in May 2017 for $739,000
  • Reduced twice
  • Currently listed at $689,000
  • Assessments of $223 a month (includes exterior maintenance and scavenger)
  • Taxes of $12,719
  • Central Air
  • Washer/Dryer in the unit
  • Garage parking included
  • Private rooftop deck
  • Bedroom #1: 18×15 (second floor)
  • Bedroom #2: 11×10 (second floor)
  • Bedroom #3: 18×14 (main level)
  • Bedroom #4: 11×11 (main level)
  • Loft: 16×11 (second floor)

 

 

Are There Too Many Mansions on the Market? A 9 Bedroom at 2466 N. Lakeview

2466 n lakeview #1

According to Crain’s, one of the city’s mansions just sold to an heir of the Thai Red Bull fortune.

They do not, apparently, have ties to Chicago.

The house, which sold on Oct 11 for $7.5 million, is on Bellevue in the Gold Coast. Originally listed for $9 million, it was reduced $1 million before selling.

It is, so far, the most expensive single family home sale of the year.

Read the Crain’s coverage here.

But there are plenty of other expensive homes on the market.

In just Lincoln Park, there are currently 21 single family homes on the market listed for more than $4 million.

Included in those is the Theurer-Wrigley mansion at 2466 N. Lakeview.

We have chattered about it several times over the years and chattered about it again in February 2017 when it returned to the market…again.

See that chatter here.

If you recall, this is a special home.

It was listed on the National Register of Historic Places in 1980.

It has much of the features of a mansion built in 1896 including original cherry and mahogany wood paneling and staircases. It has crown molding and 5 fireplaces along with herringbone floors.

The main house has 9-bedrooms in 13,705 square feet. 5 of the bedrooms are on the second floor, three are on the third and one is in the lower level.

From the listing of what else the house includes:

“a grand foyer; a solarium; butler’s pantry; wine bar; walk-in vault; game rooms; staff quarters; a mahogany paneled library; sprawling master suite with his and hers baths; and top floor ball room with unobstructed Lincoln Park and Lake Michigan views.”

Yes, it actually has a grand ballroom.

No one is building one of those in a house anymore.

There is also a 2000 square foot coach house with 2 residential units on the 85×120 property with 5-car parking, 3 cars in a garage and 2-cars on the driveway.

2466 n lakeview #2

There’s no central air and the kitchen, according to Crain’s, needs work. There are a few pictures of it in the listing.

In February, it was listed at $7.1 million but has been reduced to $5.5 million.

With the stock market at record highs, sales of the upper bracket have been strong.

But is there simply too much inventory now? Or is Chicago’s economy up to the challenge at that price point?

Anthony Disano at Parkvue Realty still has the listing. See the pictures here (be sure to check out the ballroom) as well as the floor plans, which are helpful:

2466 N. Lakeview: 9 bedrooms, 7.5 baths, 13,705 square feet in the main house, coach house with 2 apartments, 5 car parking

  • Sold in April 2004 for $9 million
  • Lis pendens foreclosure filed in May 2011
  • Was listed in October 2011 for $9.5 million
  • Withdrawn in October 2012
  • Was listed in November 2014 for $8.695 million
  • Withdrawn
  • Bank owned by Bank of America in September 2016
  • Was listed in February 2017 for $7.15 million
  • Reduced
  • Currently listed for $5.5 million
  • Taxes are now $150,325 (they were $145,294 in 2014 and $118,395 in 2011)
  • No central air- window units only
  • 2 apartments in coach house for staff
  • 5 fireplaces
  • Ballroom
  • Library: 16×14 (main floor)
  • Bedroom #1: 20×17 (second floor)
  • Bedroom #2: 18×12 (second floor)
  • Bedroom #3: 14×12 (second floor)
  • Bedroom #4: 20×13 (second floor)
  • Bedroom #5: 15×12 (second floor)
  • Bedroom #6: 18×13 (third floor)
  • Bedroom #7: 19×16 (third floor)
  • Bedroom #8: 11×10 (third floor)
  • Bedroom #9: 15×12 (lower level)