Is a Chicago River Covered Boat Slip a Smart Investment? 800 S. Wells in the South Loop

800 s wells

This 26 foot covered boat slip in River City Marina at 800 S. Wells in the South Loop came on the market in June 2015.

According to the listing, this is a rare opportunity to get a covered slip.

River City Marina is bubbled to prevent freezing meaning you can keep your boat there year round.

It has a security gate and a 24/7 security camera so you can even check on your boat while on vacation.

Water and electric are included in the assessments – but those aren’t listed in the listing.

There are two other River City Marina boat slips currently  on the market:

    1. #M-39: 27.96 feet for $48,000
    2. #M-13: 31.94 feet, an outside space, for $69,900

Big development is apparently coming to the Chicago River in this neighborhood, supposedly both north and south of River City. There are plans for 5 new high rises, with 2700 units, on just the north parcel alone.

From Crain’s in June 2015:

The joint venture between Chicago developer CMK and Australian construction company Lend Lease Group has submitted plans with the city for the 7.3-acre riverside parcel between Harrison Street and the River City condominium complex. The largest building, on the north end of the site, would rise 47 stories and include 626 units.

Is a boat slip at River City Marina a smart investment with development about to explode?

Vasili Korovilas at Charles Rutenberg Realty has the listing. See the pictures here.

Unit M-35: 26 foot covered boat slip at River City Marina

    • Sold in June 2007 for $38,000 according to Redfin
    • Originally listed in June 2015 for $44,000
    • Reduced
    • Currently listed for $39,000
    • Assessments ???
    • Taxes are $480 a year
    • Year round occupancy

Get a 2-Bedroom West Loop Loft for Under $330,000: 1500 W. Monroe

1500 w monroe

This 2-bedroom loft in the Park 1500 Lofts at 1500 W. Monroe in the West Loop came on the market in August 2015.

It has all the features loft lovers look for including 14-foot high timber ceilings, industrial windows, and exposed brick.

It has a split floor plan and the bedrooms even have full size walls and both bedrooms appear to have windows.

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

It has central air, washer/dryer in the unit and garage parking is $25,000.

Listed at just $300,000, and at 1300 square feet, this seems like a deal for the hot West Loop.

Why isn’t this selling?

Paul Blackburn at @Properties has the listing. See the pictures here.

Unit #403: 2 bedrooms, 2 baths, 1300 square feet

  • Sold in January 2002 for $241,500
  • Sold in July 2004 for $293,000
  • Sold in April 2006 for $334,000
  • Originally listed in August 2015 for $335,000 (not sure if this included the parking or not)
  • Reduced
  • Currently listed for $300,000 plus $25,000 for parking
  • Assessments of $452 a month (includes doorman, cable, exterior maintenance, snow removal, scavenger)
  • Taxes of $3691
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×11
  • Bedroom #2: 12×11

What’s Happening at 1445 N. Dearborn Parkway in the Gold Coast?

For many years, I have wondered what this building was going to be at 1445 N. Dearborn Parkway in the Gold Coast.

Luxury condos with million dollar price tags, perhaps?

This picture below was taken in March 2011.

1445 N Dearborn Parkway March 2011 pic

But in 2015, this building still has the “private property” and “no trespassing” signs on the front metal fence.

Here’s the latest picture:

1445 n dearborn parkway

It doesn’t appear that anyone is living there.

I googled the address but nothing comes up.

For those of you who live in the Gold Coast, what is going on with this building?

After all these years, I’m curious about it.

Vintage in an Unusual Place: A 3-Bedroom at 2734 N. Mildred in Lincoln Park

2734 n mildred

This 3-bedroom at 2734 N. Mildred in Lincoln Park came on the market in August 2015.

The building was built in 1938 and has just 4 units.

It looks like it was converted to condos only as recently as 2009.

It’s in an unusual location, as most of the older vintage buildings are usually found closer to the lake.

This unit has many of its original vintage features including crown moldings. It has built-in bookcases in the living room along with built-in glass cabinets in the dining room.

There’s also a hand carved marble fireplace.

The kitchen, however, is completely modern, with dark wood cabinets, granite counter tops which extends to the back splash, and Viking and Bosch appliances.

The master suite has a spa bath.

There’s 2 private decks and garage parking.

It also has the modern amenities buyers look for including central air and washer/dryer in the unit.

At 2066 square feet, this full-floor unit is as big as many nearly townhouses or duplex downs.

Will it get close to ask?

Rachel Krueger at Coldwell Banker has this listing. See the pictures here.

Unit #2: 3 bedrooms, 2 baths, 2066 square feet

  • Sold in January 2010 for $675,000
  • Originally listed in August 2015 for $799,000
  • Currently still listed for $799,000
  • Assessments of $270 a month (includes water, snow removal, scavenger, exterior maintenance)
  • Taxes of $10661
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 16×18
  • Bedroom #2: 13×12
  • Bedroom #3: 13×10

 

 

 

 

Looking for a $147,000 Gain Just 3 Months Later in the Gold Coast: 1241 N. Dearborn Parkway

1241 n dearborn

This 3-bedroom at 1241 N. Dearborn Parkway in the Gold Coast just came on the market.

But if it looks familiar, that’s because it recently sold at the end of May.

The new listing says it has been “totally remodeled” but doesn’t say what was done.

The unit has dark hardwood floors and a stone surround on the wood burning fireplace.

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

This building was built around 1980 and has 5 units. There is a private elevator that opens into each unit.

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

The unit is listed for $147,000 more than the May 2015 sale.

Last May it sold within just 1 month.

Will this remodeled version sell just as quickly?

Julie Yurov at Richter Realty Group has the listing. See the pictures here.

You can also check out the prior listing pictures here if you want to check out the remodel.

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

  • Sold in April 1998 for $289,000
  • Sold in November 2003 for $500,000
  • Sold in May 2015 for $522,000
  • Currently listed for $669,000
  • Assessments of $500 a month (includes water, exterior maintenance)
  • Taxes of $9868
  • Central Air
  • Washer/Dryer in the unit
  • Wood burning fireplace
  • Bedroom #1: 13×15
  • Bedroom #2: 10×12
  • Bedroom #3: 10×12

 

 

22% Gain in 22 Months for this 3-Bedroom Penthouse Loft in River North: 154 W. Hubbard

154 w hubbard approved

This 3-bedroom penthouse loft at 154 W. Hubbard in River North recently came on the market.

This building was converted into 18 luxury lofts by Studio Dwell just as the market bust was beginning to hit in 2008.

This loft has many authentic loft features including the original industrial windows, 14-15 foot ceilings, exposed brick and timber ceilings.

The kitchen has custom Italian cabinetry with an oversized island and Viking, Jenn Air, Bosch appliances.

The master bathroom has a steam and rain shower.

There’s also a side-by-side washer/dryer in the separate laundry room.

But the big selling feature is the 1500 square foot private roof top deck with a covered outdoor gourmet kitchen.

It has central air and 1-car garage parking.

This loft sold just 22 months ago for $1.225 million.

The listing doesn’t say this loft had a renovation.

If you want to see what is different for this sale, compared to 2013, you can see the prior listing pictures here.

It’s been listed 22% higher.

Will they get the premium?

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

Unit #601: 3 bedrooms, 2 baths, no square footage listed (but the 2013 listing says its 2282 square feet)

  • Sold in September 2008 for $1,010,000
  • Sold in November 2013 for $1,225,000
  • Currently listed for $1,495,000
  • Assessments of $470 a month (includes water, snow removal, scavenger and exterior maintenance)
  • Taxes of $14804
  • Central Air
  • Washer/Dryer in the unit
  • 1-car garage parking included
  • Bedroom #1: 14×14
  • Bedroom #2: 10×14
  • Bedroom #3: 14×11

42% Gain in 13 Months for this 4-Bedroom Duplex Down: 1122 W. Diversey in Lakeview

1122 w diversey

This 4-bedroom duplex down at 1122 W. Diversey in Lakeview came on the market in August 2015.

But it last sold just 13 months ago in July 2014.

The current listing describes it as “renovated” with newly dark stained hardwood floors on the main level.

The kitchen now has white cabinets, whereas they were maple cabinets just a year ago, with granite counter tops and stainless steel appliances.

The three bathrooms appear to be the same as the year ago listing.

In 2014, however, this unit only had 3 bedrooms.

A 4th bedroom appears to have been created in the lower level out of extra space in the family room where a wet bar had been.

The listing says the 4th bedroom is being used as an office. You can still see the tiny sink from the old bar in the corner of the picture of the office.

It has all the other features that buyers look for including central air, washer/dryer in the unit and 1 garage parking space.

The unit is listed for 42% more than just 1 year ago.

But it’s now a 4-bedroom, instead of a 3-bedroom, and 4 bedroom condos are rare in this neighborhood.

Will they get the premium?

Jennifer Mills at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

You can also see the 2014 listing pictures here to see what was renovated.

Unit #1E: 4 bedrooms, 3 baths, 2400 square feet

  • Sold in August 2000 for $409,000
  • Sold in June 2005 for $505,000
  • Sold in July 2014 for $527,500
  • Originally listed in August 2015 for $749,000
  • Currently still listed for $749,000
  • Assessments of $180 a month (includes water, scavenger, exterior maintenance)
  • Taxes of $6339
  • Central Air
  • Washer/Dryer in the unit
  • Garage parking included
  • Bedroom #1: 14×12 (main floor)
  • Bedroom #2: 12×10 (main floor)
  • Bedroom #3: 15×11 (lower level)
  • Bedroom #4: 10×10 (lower level)

 

 

Looking for a Vintage Pied-a-Terre in Lincoln Park? 2000 N. Lincoln Park West

2000 n lincoln park west

This 1-bedroom at 2000 N. Lincoln Park West in Lincoln Park came on the market in August 2015.

The building was constructed in 1931 and has 195 units.

This building used to be apartments until it was converted into condominiums in 2004-2005 at the height of the boom. The developer offered an upgrade package for the kitchens which consisted of new cabinets, granite counter tops and stainless steel appliances.

We chattered about the short sales and the foreclosures in this building numerous times from 2008-2012. Here’s a November 2008 chatter about the distress sales in the building.

But now the wave of buyers who bought in the dark times, are trying to sell.

This 1-bedroom on the 15th floor faces west, so it has views over Lincoln Park and NOT park and lake views.

But the listing says it has been “completely renovated.”

The listing says all the wood work has been stripped and refinished.

This unit has crown molding, hardwood floors, built-ins in the living room and dining room.

The kitchen has stainless steel appliances, including a Subzero refrigerator drawer.

There is no central air, but the listing says it has 3 LG air conditioners.

There’s also no in-unit washer/dryer or parking.

This unit is being sold fully furnished so a buyer looking to use it as a pied-a-terre could use it immediately upon getting the keys.

It’s come on the market for $39,400 more than the original 2005 purchase price.

Has this building fully recovered from the housing bubble crash?

Monique Pieron at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #1504: 1 bedroom, 1 bath, no square footage listed

  • Sold in July 2005 for $220,500
  • Sold in February 2011 for $152,500
  • Originally listed in August 2015 for $259,900
  • Currently still listed at $259,900
  • Assessments of $535 a month (includes heat, water, gas, cable, doorman)
  • Taxes of $2025
  • No central air. Window units only
  • No in-unit washer/dryer. Coin laundry in the building
  • No parking
  • Bedroom: 15×12
  • Living room: 20×13
  • Dining room: 9×8
  • Galley kitchen: 8×5

4 Years and a Renovation Later: A 3-Bedroom at 1410 N. State Parkway in the Gold Coast

1410 n state parkway

This 3-bedroom at 1410 N. State Parkway in the Gold Coast just came on the market.

The building was built in 1981 and has just 50 units, with only 2 units per floor.

If those tree top views seem familiar, that’s because we last chattered about this unit in December 2011 when it was on the market for $71,000 under the 2000 purchase price.

See our 2011 chatter here.

In the prior listing, some of the finishes, including the kitchen, were not up-to-date.

Listed for $499,000 when we chattered about it, some of you thought it would ultimately sell in the $300,000s.

3 years after its last sale, it has come back on the market fully renovated with a new kitchen and baths.

This time the unit is also listed as a 3-bedroom, even though last time it was a 2-bedroom with den. The listing says the middle bedroom has been opened up and is now used as a den but can be configured into a bedroom.

The new kitchen has white cabinets and stainless steel appliances along with a tile backsplash.

The master bedroom has an ensuite bathroom that has been updated with a walk-in shower.

If you recall, this is a fourth floor southeast corner unit.

It still has parquet floors in the main living space.

The unit has all the features buyers look for including central air, washer/dryer in the unit and valet parking is available in the building for $220 a month.

With the renovation, this property has come back on the market for $330,000 more than the 2012 sale.

Buyers love “new.”

Will it get the premium?

Leslie Ann Bodell at @Properties has the listing. See the pictures here.

Unit #4B: 3 bedrooms, 2.5 baths, 2000 square feet

  • Sold in April 2000 for $570,000
  • Originally listed in June 2011 for $650,000
  • Reduced
  • Was listed in December 2011 for $499,000
  • Sold in April 2012 for $420,000
  • Currently listed at $750,000
  • Assessments are now $1550 a month (they were $1420 a month in 2011) (includes water, doorman, cable, exercise room, snow removal)
  • Taxes are now $9732 (they were $9634 in 2011)
  • Central Air
  • Washer/Dryer in the unit
  • Valet parking at $220 a month
  • Bedroom #1: 19×14
  • Bedroom #2: 17×17
  • Bedroom #3: 13×12

Lake Views in the Middle of Printers Row: A 2-Bedroom at 600 S. Dearborn

600 s dearborn

This 2-bedroom in the Transportation Building at 600 S. Dearborn in Printers Row recently came on the market.

It is an 18th floor southeast corner unit with views of the Lake and the cityscape.

The unit has loft-like ceiling heights at 11 feet but doesn’t sell itself as a loft. The bedrooms are enclosed.

It has wide plank dark hardwood floors.

The listing says the kitchen and bath have been rehabbed. The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.

It has a washer/dryer in the unit and wall air conditioning units.

As is common in Printers Row, there’s no parking with this building but there are several rental garages just a block away.

Will the lake views and walkability of this unit lead to a quick sale?

Thomas Bezanes at Jameson Sotheby’s has the listing. See the pictures here.

Unit #1816: 2 bedrooms, 1 bath, 1400 square feet

  • Sold in April 1996 for $154,000
  • Sold in January 1999 for $190,500
  • Sold in December 2001 for $238,500
  • Sold in May 2013 for $350,000
  • Currently listed for $420,000
  • Assessments of $531 a month (includes water, doorman, cable, exterior maintenance and snow removal)
  • Taxes of $4321
  • No central air- but it has wall units
  • Washer/Dryer in the unit
  • No parking with the building
  • Bedroom #1: 14×14
  • Bedroom #2: 10×14
  • Office: 7×6