Your Home in the Sky: 4000 Sq Ft in 65 E. Monroe in Millennium Park

65 e monroe approved

This 4-bedroom corner unit at 65 E. Monroe in the Millennium Park area of the Loop came on the market in February 2015.

It is a southeast corner unit with views of just about everything, including the south Grant Park skyline, the north Millennium Park skyline and the Lake, including Buckingham Fountain.

The building has a lap pool, a gym and a shared terrace.

It has 10 foot floor to ceiling windows.

The kitchen has dark wood cabinets, granite counter tops, stainless steel appliances and also includes a wine refrigerator.

3 of the bedrooms have lake views.

It also has a media room and an office.

Parking is available for $50,000 extra.

This unit has reduced $200,000 since February to $3 million.

With 4-bedrooms, is this unit targeting family buyers?

Philip Skowron at @Properties has the listing. See the pictures here.

Unit #4101: 4 bedrooms, 3.5 baths, 4000 square feet

  • I’m not sure this has ever sold before but Redfin says it sold in January 2014 for $2,391,500.
  • Originally listed in February 2015 for $3.2 million
  • Reduced
  • Currently listed at $3 million
  • Assessments of $2156 a month (includes a/c, gas, doorman, cable, exercise room, pool, exterior)
  • Taxes aren’t listed
  • Central Air
  • Washer/Dryer in the unit
  • Parking for $50,000 extra
  • Bedroom #1: 19×14
  • Bedroom #2: 17×12
  • Bedroom #3: 17×12
  • Bedroom #4: 17×12

 

Market Conditions: Is the Condo Market in Chicago as “Frenzied” as the Boom Years?

Chicago skyline from Grant Park August 2015

We’ve chattered about how quickly some properties are selling in 2015.

The data is confirming it. For condos in the GreenZone, the market times are the fastest they have been since the frenzied days of the housing boom in 2007.

From Crain’s:

In June, condos in the city sold in an average of 61 days, the fastest since at least January 2007, the earliest date available from Midwest Real Estate Data.

“It’s just as frenzied as it was at the height of the market” during the run-up to housing’s 2006 peak, said Julie Tag, an @properties agent in Winnetka, “but the difference is that people aren’t losing their heads and overpaying.”

To wit: Though single-family homes are selling at 86 days, unchanged from a year ago, their prices have risen more than condo prices. The median sale price of a city single-family home in June was $225,000, an increase of 8.9 percent from a year earlier, according to MRED, while for city condos the June median was $323,000, up 4.2 percent from June 2014.

Sellers who see their condos go swiftly are the ones who “don’t ask for inflated prices,” Tag said, or if they do, the property sits unsold.

Meanwhile, a condo on the third floor of a building on Monroe Street in the West Loop went under contract the first day in June that it was on the market, trumping the unit one flight up, which took three days to go under contract in May.

‘IT CAN BE CRAZY’

In River North, a ninth-floor unit on Huron Street was under contract after four days on the market. A three-bedroom condo on Damen Avenue in the Hamlin Park section of Lakeview went under contract in eight days.

“You’re seeing immediate sales, no waiting,” said Myrna Greenspan, the Lincoln Park @properties agent who listed both Monroe Street condominiums. “It can be crazy.” In May, the fourth-floor unit attracted six offers in its first 24 hours on the market, she said, and sold for $593,500, on an ask of $599,000. In June, the third-floor unit sold to the first lookers on the first day, at full price, $555,000.

Yet as hot as it is, buyers are also picky and expect move-in ready properties. If you have flowered wallpaper, you might want to consider painting before you list.

But given the quick market times, and lack of inventory, if you are selling a property and it doesn’t go under contract in, say, 2 weeks, is it because you are overpriced?

Condos are selling super fast this summer [Crain’s Chicago Business, Dennis Rodkin, August 13, 2015]

City Views from the South Side: A 1-Bedroom at 1717 S. Prairie in the South Loop

1717 s prairie

This 1-bedroom at 1717 S. Prairie in the South Loop recently came on the market.

It is a large 1-bedroom with 1052 square feet and a 10×10 den.

The unit also has the preferred 1.5 baths instead of just 1 bath.

The kitchen has granite counter tops, stainless steel appliances and maple cabinets. It is also a rare high rise layout where there is a window in the kitchen.

The master bedroom has a double sink and a separate shower.

The unit faces north and has views of Soldier Field, partial lake views and views of the Millennium Park skyline.

It also has all the features that buyers look for including central air, washer/dryer in the unit and garage parking is available for $30,000.

There is another unit with this floor plan also currently on the market but on the 20th floor.  It is listed at $299,900 plus $35,000 for the parking. Similar finishes. It went under contract in just 6 days.

Is this unit a deal for the square footage and the views?

Matt Laricy at Americorp has the listing. See the pictures here.

Unit #1604: 1 bedroom, 1.5 baths, 1052 square feet

  • Sold in January 2004 for $346,000 (included the parking)
  • Bank owned in June 2010
  • Sold in August 2011 for $159,000 (included the parking)
  • Currently listed for $285,000 (plus $30,000 for the parking)
  • Assessments of $631 a month (includes A/C, gas, doorman, cable, exercise room, exterior maintenance, snow removal)
  • Taxes of $2120
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom: 11×13
  • Den: 10×10

 

A 1300 Sq Ft New York Style Brick and Timber Loft in Printers Row: 531 S. Plymouth

531 s plymouth

This 1300 square foot 1-bedroom loft in the Mergenthaler Building at 531 S. Plymouth in Printers Row just came on the market.

Originally built in 1886, it was converted into apartments in 1979 and then into condominiums. There are only 20 units in the building. Some parking is available in an outdoor lot next door to the building so the south views appear to be protected.

This unit has exposed brick and 12-foot timber ceilings.

It is just one of 3 lofts in the building with the unique floor to ceiling south facing bay windows.

The kitchen appears to have stainless steel appliances but otherwise not much can be discerned from the pictures.

The loft has central air and washer/dryer in the unit but it doesn’t have any parking.

This building has some of the most unique lofts in Printers Row. We last chattered about a unit in this building in 2008. You can see the interior pictures for that unit here.

Given that lofts in this building rarely come on the market, will this go under contract this week?

Akos Straub at Coldwell Banker has the listing. See the pictures here.

Unit #403: 1 bedroom, 1 bath, 1300 square feet

  • Sold in August 2000 for $213,000
  • Sold in August 2002 for $248,000
  • Sold in January 2007 for $265,000
  • Currently listed for $319,900
  • Assessments of $680 a month (includes cable, exterior maintenance and snow removal)
  • Taxes of $4279
  • Central Air
  • Washer/Dryer in the unit
  • No parking. It’s available to rent in the neighborhood
  • Bedroom: 12×8

 

 

A Vintage Beauty for Modern Living: A 3-Bedroom at 4300 N. Marine Drive in Buena Park

4300 n marine drive

This 3-bedroom vintage unit at 4300 N. Marine Drive in the Buena Park neighborhood of Uptown just came on the market.

The listing says it has all the exposures, including South, which would be of the city, and the Lake.

Built in 1929, this property has the features you would expect from a vintage unit of that era including 9 foot ceilings, a formal foyer, Venetian plaster ceilings and crown molding.

But this unit has been renovated to modern standards.

The listing says it has a “chef’s kitchen” with honed marble brick floors, granite counter tops and luxury appliances including an oversized Wolf stove.

It also has a wine refrigerator.

The master bathroom is marble with an oversized shower.

It has central air but no laundry in the unit. There is coin laundry in the building.

There is also rental parking available in the building.

Given that this is a renovated unit, and therefore “new”, will this sell quickly?

Mario Greco at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #804: 3 bedrooms, 2.5 baths, 2200 square feet

  • Sold in August 2003 for $565,000
  • Currently listed for $482,500
  • Assessments of $1334 a month (includes heat, doorman, cable, exterior maintenance)
  • Taxes of $3626
  • Central Air
  • No in-unit washer/dryer
  • Parking available to rent in the building
  • Bedroom #1: 17×16
  • Bedroom #2: 17×16
  • Bedroom #3: 12×10

 

 

The Loft With Townhouse Style: A 4-Bedroom at 2222 N. Racine in Lincoln Park

2222 N. Racine approved

This 4-bedroom at 2222 N. Racine in Lincoln Park came on the market in June 2015.

This is a brick and timber loft building but the units are townhouse style, with your own private door facing the courtyard.

This property has 3-levels and a 330 square foot first floor private terrace.

It also has the only private attached garage in the building.

Two of the bedrooms are on the second floor and two are on the third.

The unit has slate flooring and a den with coffered ceilings.

The listing describes the kitchen as a “chef’s kitchen” with Viking, Miele and Subzero appliances.

Originally listed for $999,900 it has recently reduced $50,000 to $949,900.

This property seems to have it all, including the coveted 4-bedrooms.

Why isn’t this selling?

Nathan Ryle at Dream Town has the listing. See the pictures here.

Or you can go to the Open House on Aug 16 from 1:00-3:00 pm.

Unit #5: 4 bedrooms, 3.5 baths, no square footage listed

  • Sold in February 2000 for $374,000
  • Sold in August 2002 for $629,000
  • Sold in August 2005 for $825,000
  • Sold in August 2008 for $865,000
  • Sold in September 2011 for $742,500
  • Originally listed in June 2015 for $999,900
  • Reduced
  • Currently listed for $949,900
  • Assessments of $359 a month (includes exterior maintenance, snow removal)
  • Taxes of $8835
  • Central Air
  • Washer/Dryer in the unit
  • Includes the only attached garage in the building
  • Bedroom #1: 18×16 (second floor)
  • Bedroom #2: 12×10 (second floor)
  • Bedroom #3: 13×10 (third floor)
  • Bedroom #4: 10×11 (third floor)

 

Why Rent? A $199,000 1-Bedroom in East Lakeview: 450 W. Briar

450 w briar approved

This 1-bedroom in 450 W. Briar in East Lakeview came on the market in February 2015.

It is on the 7th floor and faces south.

This was a new conversion in 2005 so this has a kitchen with cherry cabinets, black granite counter tops and stainless steel appliances.

There are wood floors in the living room and new carpet in the bedroom.

The listing says it has been newly painted.

The building was built in 1974 so there is no central air. It has wall units in the living room and bedroom.

But there’s an in-unit washer/dryer and parking is available in the building for $29,500.

This building even has a rooftop pool and fitness room.

With 5% down and a 3.9% mortgage rate, according to the mortgage calculators, your monthly mortgage payment would be just $900.  Even with taxes, PMI, assessments it’s just $1330.

Why rent?

Matthew Putnick at Jameson Sotheby’s has the listing. See the pictures here.

Unit #7N: 1 bedroom, 1 bath, no square footage listed

  • Sold in November 2005 for $258,000
  • Originally listed in February 2015 for $215,000
  • Reduced several times
  • Currently listed at $199,000 (parking $29,500 extra)
  • Assessments of $288 a month (includes pool and fitness)
  • Taxes of $3290
  • No central air- wall units only
  • Washer/Dryer in the unit
  • Bedroom: 13×11
  • Living room: 16×13
  • Kitchen: 11×10

 

4 Months on the Market for this 3-Bedroom in Lincoln Park: 2000 N. Clifton

2000 n clifton

This 3-bedroom at 2000 N. Clifton in Lincoln Park came on the market in April 2015.

The building was built in 1920 and is in the middle of the restaurant and shopping scene on Armitage.

This is a corner unit with some of its vintage features still intact including bay windows and a wood burning fireplace.

It has exposed brick.

The kitchen has white cabinets and stainless steel appliances.

The unit has central air and an in-unit washer/dryer but it doesn’t have parking.

Originally listed for $475,000 it has been reduced several times and is now listed at $435,000.

Three bedroom condos across the city have been really hot as they are normally deemed large enough in which to possibly raise children.

Why isn’t this one selling?

Leigh Marcus at @Properties has the listing. See the pictures here.

Unit B: 3 bedrooms, 2 baths, no square footage listed

  • Last sold in 1987 but no price listed
  • Originally listed in April 2015 for $475,000
  • Reduced several times
  • Currently listed at $435,000
  • Assessments of $410 a month (includes exterior maintenance)
  • Taxes of $7726
  • Central Air
  • Washer/Dryer in the unit
  • No parking
  • Bedroom #1: 15×12
  • Bedroom #2: 14×13
  • Bedroom #3: 22×11

City Lights at Night: A 1-Bedroom at 111 E. Chestnut in the Gold Coast

111 e chestnut

This 1-bedroom at 111 E. Chestnut in the Gold Coast came on the market in March 2015.

Built in 1972-1973 as apartments, the building has 444 units and was converted into condos in 1994.

This 44th floor unit has west facing views of Chicago and the suburbs beyond.

At 1,000 square feet, it’s almost as large as many 2-bedrooms in the neighborhood.

The listing says it is “renovated” and “highly upgraded.”

The kitchen has custom cabinets and stainless steel appliances.

The bath is stone with a Jacuzzi tub.

Although the building was built in 1973, this unit comes with an in-unit washer/dryer.

It has wall air conditioning units.

Parking is included in the price.

This is a full service building with a pool, a doorman and an exercise room.

Now listed at just $369,000, how can you beat that price for that view?

Pasquale Recchia at @Properties has the listing. See the pictures here.

Unit #44D: 1 bedroom, 1 bath, 1000 square feet

  • Sold in May 1998 for $177,500
  • Sold in February 2003 for $260,000
  • Originally listed in March 2015 for $400,000
  • Reduced several times
  • Currently listed at $369,000 (includes parking)
  • Assessments of $649 a month (includes cable, internet, doorman, pool, exercise room)
  • Taxes are $3811
  • Wall unit air conditioning
  • Washer/Dryer in the unit
  • Bedroom #1: 15×14

A 2000 Sq Ft Terrace With City Views in River North: A 2-Bedroom at 21 E Huron

21 e huron #1

This 2-bedroom in The Pinnacle at 21 E. Huron in River North came on the market in April 2015.

It’s on the “terrace” level of the building, which is the 7th floor, and has west facing, or city, views.

The unit has its own 2,000 square foot terrace that is landscaped with planters some of which include pine trees.

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

It has 12 foot ceilings and a split floor plan.

The unit also has all the features buyers look for including washer/dryer in the unit, central air and parking is available for purchase in the building.

This property was originally listed for more than double the 2011 purchase price but has since been reduced.

Is there an extra premium put on extra large high rise terraces?

Or is 2000 square feet just too much to handle?

Chezi Rafaeli at Coldwell Banker has the listing. See the pictures here.

  • Sold in July 2005 for $570,000
  • Sold in May 2011 for $505,000
  • Originally listed in April 2015 for $1.275 million
  • Reduced several times
  • Currently listed at $998,000 (parking is extra)
  • Assessments of $676 a month (includes gas, cable, pool, doorman)
  • Taxes of $8440
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×14
  • Bedroom #2: 13×14
  • Terrace: 57×33