Stretching the Price Point in River North: A 2/2 at 700 N. Larrabee

700 n larrabee

This 2-bedroom plus a den at River Place on the Park at 700 N. Larrabee in River North just came on the market.

Built in 2006, at the peak of the housing boom, the building has 220 units and sits on the Chicago River.

This is a Southeast corner unit with city views east of the John Hancock and southern views of the Chicago River and the Willis Tower/Loop.

It has 10 foot floor to ceiling windows with custom shades and a balcony.

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

There’s a slate fireplace.

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

This is apparently the first sale since the original sale of this unit in 2006.

It is listed at $605,000, including the parking, or $175,000 more than the 2006 bubble price of $430,000.

Will this seller get the premium?

Michael Rosenblum at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #1809: 2 bedrooms, 2 baths, den, 1245 square feet

  • Sold in December 2006 for $430,000 (included the parking)
  • Currently listed for $575,000 plus $30,000 for parking
  • Assessments of $635 a month (includes heat, air conditioning, cable, doorman)
  • Taxes of $6575
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×12
  • Bedroom #2: 12×11
  • Den: 8×8

 

 

A Crilly Court 3-Bedroom With a Rare Parking Spot: 211 W. St. Paul in Old Town

Crilly Court approved

This 3-bedroom in Crilly Court at 211 W. St. Paul in Old Town came on the market in May 2015.

Crilly Court is a 90-unit development that was apartments for decades and converted into luxury condominiums in 2007, at the height of the bubble.

It has four buildings around a center courtyard.  The building in the picture above is of the Wells Street side of the complex. I don’t think I have a picture of the St. Paul side.

In that courtyard are only a handful of outdoor parking spaces (I want to say something like 8 to 10 spots). They were originally sold only with the most expensive 3-bedroom units in the complex.

Everyone else was out of luck.

This 3-bedroom unit in the St. Paul side of the building is one of those few units WITH the coveted parking space.

It has 4 exposures and a large terrace that faces south.

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

The master bedroom has a fireplace and a master suite bathroom.

The listing says this unit is in the Lincoln school district.

Crilly Court has always commanded top prices.

This unit is now listed $181,000 higher than the peak bubble pricing of 2007.

How high will prices go in this complex?

Timothy Salm at Jameson Sotheby’s has the listing. See the pictures here.

Or you can see it at the Open House on Saturday, June 20 from 1:00- 3:00 pm.

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

  • Sold in March 2007 for $534,000 (included the parking space)
  • Sold in December 2011 for $625,000 (included the parking space)
  • Originally listed in May 2015 for $729,000
  • Reduced
  • Currently listed at $715,000 (parking included)
  • Assessments of $468 a month (includes water)
  • Taxes of $8558
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 19×14
  • Bedroom #2: 13×10
  • Bedroom #3: 13×10

Vintage Elegance (and Pocket Doors) in East Lakeview: A 3-Bedroom at 559 W. Surf

 

559 w surf approved

This 3-bedroom vintage unit in the Green Brier at 559 W. Surf in East Lakeview came on the market in March 2015.

The building was built in 1903 and has 78 units.

Most of the units, including this one, have many of the vintage features of that era including 10 foot ceilings, thick crown molding and pocket doors.

This unit also has a decorative fireplace and a foyer with a pier mirror.

From the listing pictures, it looks like most of the moldings are in original condition (i.e., not painted.)

This particular tier of units has all 4 exposures.

The kitchen has stainless steel appliances.

Even though this unit is vintage, it has many of the features buyers look for including central air, washer/dryer in the unit and parking is available for $25,000.

Is this unit a vintage lover’s dream?

Kim Kerbis at @Properties has the listing. See the pictures here.

Unit #400: 3 bedrooms, 2 baths, 2000 square feet

  • Sold in November 2000 for $341,500
  • Originally listed in March 2015 for $465,000
  • Reduced
  • Currently listed for $437,000 (plus $25,000 for parking)
  • Assessments of $979 a month (includes doorman, cable)
  • Taxes of $7058
  • Central Air
  • Washer/Dryer in the unit
  • Decorative fireplace
  • Bedroom #1: 15×14
  • Bedroom #2: 17×14
  • Bedroom #3: 17×14

 

Looking for Pocket Doors? A 3-Bedroom at 1210 N. Astor in the Gold Coast

1210 n astor

This 3-bedroom vintage unit at 1210 N. Astor in the Gold Coast just came on the market.

The Holabird & Roche designed building was constructed in 1897 for John McConnell, who had recently purchased the corner lot.

Called the McConnell Apartments, there were 2 units per floor in the 8 story structure. According to Neil Harris’ Chicago Apartments, the units were rented by socially prominent families with the top floor housing the servants quarters.

According to Harris, the red-brick, limestone and terra-cotta structure is supported by a steel frame, similar to some of the early Loop high rises.

The building is now 14 condominium units. Masonry facade work was done on its 100th birthday- in 1997.

The building also still has the original European style elevator.

That’s not your typical crown molding in the living/dining room. It’s over a half foot thick.

It also has 10.5 foot ceilings, curved walls and 3 fireplaces.

The kitchen has white custom Amish cabinets, a 4-burner Viking stove and Wolf, Subzero and Miele appliances.

The unit has the original 8 foot pocket doors. Why don’t builders put in pocket doors anymore?

It has space pak cooling but there is no washer/dryer in the unit.

There is no parking but it’s available for rent next door.

Before everyone complains about the HOAs, remember this building has just 14 units and has to be maintained.

At $699,900, is this unit a steal for the location and square footage?

Harry Maisel at @Properties has the listing. See the pictures and floor plan here.

Unit #4B: 3 bedrooms, 2 baths, 1800 square feet

  • Sold in December 1989 for $755,000
  • Sold in April 1998 for $490,000
  • Sold in November 1998 for $525,000
  • Sold in August 2001 for $765,000
  • Sold in December 2011 for $525,000
  • Currently listed for $699,900
  • Assessments of $2023 a month (includes heat, water, snow removal)
  • Taxes of $14305
  • Space pak cooling
  • No in-unit washer/dryer
  • No parking- but available to rent next door
  • 3 fireplaces
  • Bedroom #1: 17×17
  • Bedroom #2: 15×13
  • Bedroom #3: 13×11

Not Everything is Selling in Hours: A 1-Bedroom Penthouse at 340 W. Superior in River North

340 w superior

This 1-bedroom penthouse at 340 W. Superior in River North has a market time on Redfin of 52 days.

Yet, we chattered about it last year, in September 2014.

You can see our chatter here.

At 1016 square feet, it is a “true” penthouse with a 31×12 private terrace that looks west with “sunset and city views.”

The old listing said the apartment was “conceived by renowned designer William Eubanks” and has 10 foot ceilings with crown molding.

The kitchen has light cabinets (white?) with granite counter tops and stainless steel appliances.

The bathrooms are marble.

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

In September 2014, it was listed for $475,000 plus $35,000 for the parking.

It has since been reduced to $425,000 plus $30,000 for the parking.

With the market red hot, why is this property getting lost in the shuffle?

Nancy Thomas at Berkshire Hathaway KoenigRubloff still has the listing. See the pictures here.

Unit #PH5: 1 bedroom, 1.5 baths, 1016 square feet

  • Sold in October 2002 for $357,500
  • Was listed in September 2014 for $475,000 plus $35,000 for the parking
  • Re-listed in April 2014 for $445,000 plus $30,000 for the parking
  • Reduced
  • Currently listed for $425,000 plus $30,000 for the parking
  • Assessments of $861 a month (includes heat, a/c, gas, doorman, cable)
  • Taxes of $8151
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom: 13×11

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

300 w grand

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