It’s Summer. It’s Hot. Time to Buy That Cabana: 655 W. Irving Park Road in Lakeview

655 w irving park road

This cabana next to the pool at Park Place Tower at 655 W. Irving Park in Lakeview recently came on the market.

We’ve chattered about these unique cabanas in this building before.

It is 100 square feet and has a full bath, with a shower.

There’s no heat or air conditioning.

From the pictures, you can see that it has white cabinets and a microwave in the single room.

What’s the market for a property like this?

Linda DeAngelo at Park Place Real Estate Services has the listing. See the pictures here.

Unit #C020: one room, one full bath, 100 square feet

  • Sold in April 2005 for $19,500
  • Currently listed for $25,900
  • Assessments of $15 a month
  • Taxes of $54
  • No heat
  • No central air

 

 

Will This 3-Bedroom Go Under Contract Within a Month Again? 3020 N. Sheridan in East Lakeview

3020-n-sheridan

This vintage 3-bedroom at 3020 N. Sheridan in East Lakeview recently came on the market.

Some long time readers may remember this unit because we chattered about it in June 2008.

See our prior chatter and interior pictures here.

Back then, it had gone under contract in just a month which was quick given that the market had already begun to slow down.

We also strangely chattered about the returns in real estate compared to the stock market (but this was before Lehman and the big stock market crash later in the year.)

Back then, it was listed at $599,000 and many of you thought that was a decent price. It ended up selling that September for $502,500.

Nothing has changed with the unit since the 2008 listing, including, from what I can tell from the pictures, most of the paint colors.

If you recall, the 9-unit greystone was built in 1903.

The unit has retained many of its vintage features including crown molding, high ceilings and the dining room has coffered ceilings.

The baths are marble.

The kitchen has cherry cabinets, granite counter tops and stainless steel appliances and is open to the family room.

The unit has central air and washer/dryer in the unit but no parking. It is rental in the neighborhood.

It has come on the market for $94,900 more than the prior peak price in 2006.

Will it get the premium in this hot market?

And will it go under contract in just a month again?

Alex Till at Baird & Warner has the listing. See the pictures here.

Unit #2N: 3 bedrooms, 2.5 baths, 2100 square feet

  • Sold in June 1988 for $169,000
  • Sold in June 2001 for $410,500
  • Sold in September 2006 for $565,000
  • Sold in September 2008 for $502,500
  • Currently listed for $659,900
  • Assessments of $395 a month (includes snow removal)
  • Taxes of $7415
  • Central Air
  • Washer/dryer in the unit
  • No deeded parking- rental only in the neighborhood
  • Bedroom #1: 14×11
  • Bedroom #2: 14×11
  • Bedroom #3: 13×11
  • Family room: 17×10

 

 

 

You’ll Never Believe What the Old Town $500,000 Bidding War House Sold For: 315 W. Eugenie

We last chattered about this 3-bedroom historic farmhouse at 315 W. Eugenie in the Old Town Triangle Landmark District in June 2013.

See our prior chatter here.

If you recall, it was listed at $500,000 and bids were due within 72 hours.

We debated the strategy of listing it for a low price and whether or not the bidding war would result in the highest price – or if money was going to be left on the table.

Many of us thought it would sell for over $700,000.

The sale just closed for (drumroll please)…$675,000.

Remember, the house was built in 1897 on a 24×120 lot.

It is one of the rare Old Town lots that actually has a 2-car garage.

The house still had the original windows, hardwood floors and trim.

It had an unfinished basement with just 6 foot ceilings.

It was marketed as a fixer. The listing said buyers should bring their contractor.

Back in 2009, it was listed for $1.05 million and didn’t sell.

Are you surprised by the sales price?

Are bidding wars the best way to get maximum returns out of a property?

Burt Fujishima at Coldwell Banker had the listing. You can still see the pictures here.

315 W. Eugenie: 3 bedrooms, 2 baths, 2200 square feet, 2 car garage

  • Last sold before 1987
  • Originally listed in 2008-2009
  • Was listed in 2009 for $1.05 million
  • Withdrawn
  • Was listed in June 2013 for $500,000
  • Best and highest offer due by 12 pm on June 12, 2013
  • Sold on July 15, 2013 for $675,000
  • Taxes of $13766
  • Space Pak
  • Bedroom #1: 16×12 (second floor)
  • Bedroom #2: 14×12 (second floor)
  • Bedroom #3: 18×7 (main floor)

 

We Love Large 1-Bedroom Authentic Warehouse Lofts: 312 N. May in the Fulton Market

312 n may

This 1 bedroom loft in the Warehouse Lofts at 312 N. May in the Fulton Market neighborhood of the Near West Side came on the market in June 2013.

This building was part of the Loftminium conversion of loft rental apartments into condos in 2000-2001 in the West and South Loops.

At 1330 square feet, it has the features loft lovers look for including wide open living spaces, huge industrial windows, 13 foot timber ceilings and exposed brick.

The kitchen is newer, with dark cabinets, stainless steel appliances and a tile backsplash.

There are two bathrooms, one which has been updated and one which looks like the original loftminium bathroom with a black and white tile floor.

This 1-bedroom has a den as well as a loft that appears to be accessed via a ladder.

Loftminium buildings were known for their quirky and unique loft layouts. No two were alike.

The loft has central air and in-unit washer/dryer but there is no deeded parking. Parking is rental.

The Fulton Market neighborhood continues to remain the epicenter of hot restaurants and clubs.

Authentic loft inventory is also very low.

Will this sell quickly?

Brooke Vanderbok of @Properties has the listing. See the pictures here.

Unit #4F: 1 bedroom, den, 2 baths, 1330 square feet

  • Sold in October 2000 for $191,000
  • Sold in April 2006 but price is unclear. Redfin/Zillow say it sold for $128,750 but mortgage information in the public record would seem to indicate the sales price was around $260,000.
  • Originally listed in June 2013 for $325,000
  • Still listed for $325,000
  • Assessments of $238 a month (includes snow removal)
  • Taxes of $3200
  • Central Air
  • Washer/Dryer in the unit
  • No deeded parking- rental only for $150-$200.
  • Bedroom: 14×13
  • Den: 12×7
  • Loft: 13×9- second floor

Trying to Sell a 2-Bedroom Penthouse in the Parkside of Old Town: 437 W. Division

437 w division

This 2-bedroom at 437 W. Division, which is one of the Parkside of Old Town midrise buildings in Old Town, recently came on the market.

It is a penthouse unit with 11-foot ceilings and 2 terraces, including one which is covered.

The views are North and East.

The listing says it is professionally decorated and has venetian plaster but remember, the furnishings won’t be there when you move in.

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

The bathrooms are “spa-like.”

It has the other features buyers look for including central air, washer/dryer in the unit and parking is included.

It came on the market at the end of June listed at $485,000 but has now reduced 12.4% to $425,000.

The Parkside development came on the market just as the housing bust was hitting in 2008 and 2009.

5 years later, is the hot condo market lifting values in this development?

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

Unit #905: 2 bedrooms, 2 baths, no square footage listed

  • Sold in September 2011 for $281,000 (parking included)
  • Originally listed in June 2013 for $485,000 (parking included)
  • Reduced
  • Currently listed at $425,000 (parking included)
  • Assessments of $462 a month (includes heat, a/c, gas)
  • Taxes of $4983
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×12
  • Bedroom #2: 11×11
  • Living room: 21×16
  • Kitchen: 10×10

Another Price Reduction For This 4-Bedroom Custom Old Norwood Park House: 5692 N. New Hampshire

5692 n new hampshire approved

We’ve been chattering about this 4-bedroom single family home at 5692 N. New Hampshire in Old Norwood Park for several years now.

See our February 2013 chatter here.

It is still on the market and has been reduced another $86,000 to $889,000.

Another million dollar listing just down the street at 5719 N. New Hampshire that we previously chattered about in January 2013 was listed at $999,000.

For those who wonder what price points can be supported in Old Norwood Circle, it sold on June 28, 2013 for $785,000.

See our chatter on that house here.

If you recall, these houses are located on the highly coveted circle.

Built in 2007, the house has 12-foot ceilings and 5 fireplaces.

There are Brazilian walnut wood floors throughout as well as a 12 seat home theater complete with leather reclining seats.

The kitchen has unique stone work, custom cabinets and onyx counter tops.

Built on an oversized 50×200 lot, it has a rare city 4-car garage with a 600 square foot attic.

Does the sale of 5719 N. New Hampshire now provide a road map as to the sales price of this property?

Lisa Sanders at Baird & Warner now has the listing. See the pictures here.

5692 N. New Hampshire: 4 bedrooms, 5 baths, 4 car garage, 4904 square feet

  • Sold in September 1994 for $240,000
  • New construction in 2007
  • Originally listed in February 2009 for $1.895 million
  • Reduced
  • Was listed in October 2010 at $1,399,900
  • Reduced
  • Currently listed at $1.299 million
  • Withdrawn in November 2012
  • Re-listed in February 2013 for $975,000
  • Reduced
  • Currently listed at $889,000
  • Taxes are now $7602 (they were $6323 in February 2013 and they were $5540 in 2011)
  • Central Air
  • Bedroom #1: 24×13 (second floor)
  • Bedroom #2: 14×14 (second floor)
  • Bedroom #3: 14×13 (second floor)
  • Bedroom #4: 14×13 (second floor)
  • Maid room: 29×22 (third floor)
  • Theater room: 22×15 (basement)
  • Recreation room: 24×20 (basement)

5 Years Later, the 1920s Paris 2-Bedroom Now Has a “Motivated Seller”: 50 W. Schiller in the Gold Coast

50 w schiller #1

We first chattered about this 2-bedroom vintage duplex up in the courtyard building at 50 W. Schiller in the Gold Coast in November 2008 and then again in September 2011.

See our November 2008 chatter here.

See our September 2011 chatter here.

The price has dropped substantially during that time.

In 2011, it had been reduced from $679,000 to $595,000.

Some of you thought it would sell for under $500,000.

The unit is now listed at $485,000 and has a “motivated seller.”

If you’ll recall, back in 2008 the unit was described as feeling like Paris in the 1920s.

The current listing describes it as an “architectural gem.”

Built in 1923, it has 18-foot ceilings and the listing says a Ralph Lauren inspired kitchen with black cabinets and stainless steel appliances.

It has a wood burning fireplace and built-ins.

The unit has space pac cooling and a washer/dryer in the unit.

There is no deeded parking- but it is available next door for rent.

The assessments haven’t gone up since we last chattered about it in 2011. They apparently include the property taxes.

Just a reminder, the furniture and artwork (and yes- the animal head) will not be there when you move in.

Clio said in 2011 that if the price of this property went to $499,000 it was his. But, alas, it was listed at $499,000 in June of last year and still remains on the market.

Other units in this building have sold during the 5 years it has been on the market.

Will this duplex finally sell in 2013?

Helen Beller at Koenig & Strey Real Living still has the listing. See the pictures here.

Unit #2H: 2 bedrooms, 2 baths, 1500 square feet, duplex

  • I couldn’t locate a prior sales price
  • Was listed in November 2008 for $679,000
  • Reduced several times
  • Was listed in September 2011 for $595,000
  • Reduced
  • Currently listed for $485,000
  • Assessments are still $1711 a month (includes taxes, gas, cable)- they were $1172 a month in the 2008 listing
  • Taxes of $6444 (but apparently included in the monthly assessments)
  • Space Pac cooling
  • Washer/Dryer in the unit
  • No parking
  • Bedroom #1: 17×11 (second floor)
  • Bedroom #2: 11×9 (second floor)

Get a 5-Bedroom Victorian House in Lincoln Park for Just $499,000: 637 W. Schubert

637 w schubert #1

This 5-bedroom Victorian house at 637 W. Schubert in Lincoln Park came on the market in May 2013.

Originally listed for $575,000, it has been reduced to just $499,000.

What’s the catch?

Built in 1876, it is on a smaller than average size lot of 27×52.75.

There’s no garage.

One side of the house is also on the unusual “street/alley” that is Geneva Terrace which leads to the enclave of million dollar homes that we have chattered about before (see that chatter here.)

It is being sold “as-is” as a teardown (in fact, it is listed both as a house and as a piece of land on the MLS.)

The listing says it has RT4 zoning.

Most of the listing pictures are of the exterior of the house although there are a couple of the interiors.

3 of the 5 bedrooms are on the main floor with two on the second floor.

How low will this go before a developer takes a chance?

637 w schubert #2

Maribel Selva at Coldwell Banker has the listing. See the pictures here.

637 W. Schubert: 5 bedrooms, 2 baths, no garage

  • Sold before 1987
  • Originally listed in May 2013 for $575,000
  • Reduced
  • Currently listed “as-is” for $499,000
  • Taxes of $7802
  • No central air
  • Bedroom #1: 10×10 (main level)
  • Bedroom #2: 12×10 (main level)
  • Bedroom #3: 10×10 (main level)
  • Bedroom #4: 10×12 (second level)
  • Bedroom #5: 10×10 (second level)

 

Buy a 2-Bedroom Loft in the Heart of Wicker Park For Under $375,000: 1259 N. Wood

1259 n Wood

This 2-bedroom loft at 1259 N. Wood in Wicker Park came on the market in June 2013.

It has authentic loft features including exposed brick and 15 foot timber ceilings with exposed ductwork.

It is a top floor unit with roof rights.

The kitchen has maple cabinets and black appliances.

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

The loft is right in the middle of the Wicker Park scene, near the North/Damen intersection of shops and restaurants as well as the Division street scene and blue line stop.

The unit has been reduced $10,000 in the last month.

It only has 1.5 baths instead of 2 baths.

Is the lack of two full baths what is keeping this on the market?

Gregg Fisher at Coldwell Banker has the listing. See the pictures here.

Unit #406: 2 bedrooms, 1.5 baths, 1300 square feet

  • Sold in July 2000 for $306,000
  • Sold in May 2008 for $383,000
  • Originally listed in June 2013 for $385,000
  • Reduced
  • Currently listed at $375,000
  • Assessments of $270 a month
  • Taxes of $4418
  • Central Air
  • Washer/Dryer in the unit
  • Gated parking included
  • Bedroom #1: 10×13
  • Bedroom #2: 11×12

 

The Case Study Penthouse With Private Roof Deck Lists for $2.5 Million: 156 W. Superior in River North

156 w superior

The 2-bedroom penthouse in Case Study, the modern mid-rise at 156 W. Superior in River North, recently came on the market for the first time since it was originally purchased in 2006.

This is a “true” penthouse with a stainless steel staircase to a private roof top deck with city views.

The unit has 14 foot ceilings, floor to ceiling windows and concrete floors.

The kitchen has white Archlinea cabinets and stainless steel appliances.

All the living space appears to be on the main floor, including the 2 bedrooms.

Built in 2006, the 11-unit building has no doorman. The elevator is keyed directly to this unit.

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

We’ve seen that the bigger 3-bedroom units have been strong sellers this year. There is no square footage listed with this unit.

Will only having 2-bedrooms, and not 3, impact resale of this unit?

Robert John Anderson at Baird & Warner has the listing. See the pictures here.

Unit #PH: 2 bedrooms, 2 baths, no square footage listed, 2 car garage

  • Sold in August 2006 for $1.635 million
  • Currently listed for $2.5 million
  • Assessments of $639 a month (includes cable)
  • Taxes of $21607
  • Central Air
  • Washer/Dryer in the unit
  • Private rooftop deck
  • Bedroom #1: 23×13 (main level)
  • Bedroom #2: 19×16 (main level)