Crib Chatter Holiday Schedule

With the holidays upon us, Crib Chatter will be adopting the following holiday schedule:

Christmas/Hanukkah Week:

  • Dec 22-24: Normal Schedule
  • Dec 25-26: No New Posts

New Years Week

  • Dec 29-31: Normal Schedule
  • Jan 1-2: No New Posts

I will also be providing updates on 2008 properties throughout the two weeks.

Additionally, look for posts about what we’ll all be chattering about in Chicago real estate in 2009. (If anyone has any suggestions for this topic- please feel free to make them.)

And, as you’re all aware, there have been changes to the site- mainly to the use of photographs. Thank you all for your patience.

More photos will be appearing in the coming weeks. It’s just been a tad too cold for me to get out and do the photography on some of the buildings. But you will soon see me in my winter coat snapping away.

Thanks!

Happy Holidays-

Sabrina

After 3 Years, It Sells for Under 2000 Price: 190 E. Walton in the Gold Coast

No- there’s nothing wrong with the building or the unit (from what tipsters who have been in both have told me.)

After 3 years off and on the market, Unit #202 in the small, boutique building The Regent, at 190 E. Walton in the Gold Coast, has finally sold.

It sold for $55,000 less than the 2000 sale price.

See pictures here.

Here’s the history:

Unit #202: 2 bedrooms, 2 baths, den, 1600 square feet

  • Sold in October 2000 for $705,000
  • Sold in September 2003 for $710,000
  • Was originally listed in 2005 for $795,000
  • Reduced
  • On and off the market
  • Was listed in July 2008 for $649,999 (parking extra)
  • Sold in December 2008 for $650,000 parking included
  • Assessments of $570 a month

Want to Be a Real Estate Mogul? 3816 S. Emerald in Bridgeport

We often chatter about buying properties as “investments” and look mainly at rehabbed or new construction 1 or 2-bedroom condos.

But maybe investors should start with a property like this 2-flat at 3816 S. Emerald in Bridgeport.

3816-s-emerald-approved.jpg

Built in 1888, the property has 4 bedrooms, 2 baths and 2 parking spaces.

Can an investor make this property work financially?

3816-s-emerald-livingroom.jpg

3816-s-emerald-kitchen.jpg

Kathy Repsis at Coldwell Banker has the listing. See the listing and more pictures here.

3816 S. Emerald: 4 bedrooms, 2 baths, 2-flat

  • I couldn’t find an original sales price
  • Originally listed in May 2008 for $314,900
  • Reduced several times
  • Currently listed for $259,900
  • Taxes of $3899
  • Stoves and refrigerators stay

8 Months Later and Still Waiting: 1104 W. Montana in Lincoln Park

We chattered about this cute vintage 1-bedroom condo at 1104 W.  Montana in Lincoln Park in May 2008.

It is still on the market- but has been reduced by $11,000.

The owner has posted a Craigslist ad which reads “Owner is welcoming all offers. Short sale possible. ”

Here’s it’s history:

Unit #2: 1 bedroom, 1 bath

  • Sold in August 2001 for $177,000
  • Sold in July 2006 for $250,000
  • Was listed in May 2008 for $256,000
  • Reduced
  • Currently listed for $244,000
  • Assessments of $245 a month
  • Taxes of $1,627
  • Livingroom: 19 x 11
  • Bedroom: 14 x 11
  • Diningroom: 11 x 10
  • A/C Window Units
  • No in-unit laundry
  • No parking

Hudson Park Realty has the listing. See the pictures here.

Lis Pendens Filed on 170 W. Eugenie in Old Town

We just chattered about this renovated vintage single family home in Old Town at 170 W. Eugenie in November.

A lis pendens has now been filed on the property (by JPMorgan Chase.)

Here’s its history again:

170 W. Eugenie: 5 bedrooms, 5.5 baths, built in 1891, no square footage listed

  • Sold in January 1988 for $227,000
  • Sold in October 2003 for $774,000
  • Originally listed for $2.975 million in October 2008
  • Reduced
  • Currently listed for $1.999 million
  • Lis pendens filed in November 2008
  • Taxes of $13,913
  • Doesn’t appear to have parking
  • Central Air
  • Andrea Serban at Coldwell Banker has the listing. See the pictures here.

An “Affordable” Single Family Home in Lakeview? 3729 N. Hermitage

We’ve chattered a lot about the glut of million dollar single family homes on the North Side. But what about those that appear to be “affordable”?

3729-n-hermitage-approved.jpg

This 3-bedroom home at 3729 N. Hermitage in Lakeview has been on the market since June 2008. It seems to have it all: location, a 2-car garage, and central air.

It’s also been reduced by $75,900.

The listing says it’s been rehabbed.

Why isn’t this selling?

 3729-n-hermitage-livingroom.jpg

3729-n-hermitage-kitchen-approved.jpg

Stephanie Biederman at Koenig & Strey has the listing. See more pictures here.

3729 N. Hermitage: 3 bedrooms, 2 baths, 2 car garage

  • Sold in November 1990 for $126,000
  • Sold in September 2000 for $380,000
  • Originally listed in June 2008 for $774,900
  • Reduced several times
  • Currently listed at $699,000
  • Taxes of $6770
  • Central Air
  • OR – you can also rent it for $3000 a month

Selling for Less than 2005 Prices: 931 N. Howe in River North

This 3-bedroom townhouse at 931 N. Howe in River North is listed on the MLS and Craigslist.  The seller is “motivated.”

The price was just reduced $27,400.

The Craigslist ad states “OWNER WILL CONSIDER PARTIAL PROPERTY TRADE IN SURROUNDING AREAS FOR UNDER $300k. ”

The Craigslist ad also states that after the tenant moves out, the owner will refinish the hardwood floors, add SS appliances, paint & refinish the roofdeck.

The unit used to have black appliances (at least in the old pictures on Craigslist) but now appears to have stainless steel.

Does the color of the appliances REALLY matter?

Here’s its history:

931 N. Howe: 3 bedrooms, 3 baths, 1 car parking

  • Sold in September 2005 for $508,000
  • Originally listed in November 2008 for $539,900
  • Reduced
  • Currently listed for $502,500
  • Assessments of $251
  • Taxes of $6,000
  • Jason Vondrachek at Quest Realty Group has the listing. See the pictures here.

Back to the Future in the South Loop: 41 E. 8th

We haven’t yet chattered about 41 E. 8th, a 2002 new construction high rise in the South Loop.

41-e-8th-_1-approved.jpg

The Craigslist ad for this 2-bedroom unit says it’s an “awesome opportunity” and that the seller is “motivated.”

It also lists the price as $365,000 plus $35k for parking.

In the realtor listing, the price is listed as $380,000 plus the $35k for parking.

Either way- this would seem to indicate only small appreciation from the 2003-2004 price.

41-e-8th-_1902-livingroom.jpg

41-e-8th-_1902-kitchen.jpg

Ricardo Jimenez at Rubloff has the listing. See more pictures and a virtual tour here.

See the property website here.

Unit #1902: 2 bedrooms, 2 baths, 1200 square feet

  • Sold in March 2003 for $356,500
  • Originally listed in July 2008 for $395,000
  • Reduced
  • Currently listed on the MLS for $380,000 plus $35k for parking
  • Currently also listed on Craigslist for $365k plus $35k for parking
  • Assessments of $519 a month
  • Taxes of $4394
  • A special assessment was just paid for the balcony repair work- which is just about completed

Buying the Views: 450 E. Waterside Drive in Lakeshore East

340 On the Park isn’t the only building with lake views in Lakeshore East. The Chandler, at 450 E. Waterside Drive, also has stunning city and lake views from the north facing units.

450-e-waterside-_1-approved.jpg

Unit #2902, a 3-bedroom unit, is back on the market after closing last February. According to the listing, it is a “very motivated seller.”

It also has higher ceilings than most other units in the building- at around 11 feet and views, both north and east, of the river and the lake.

Do the views sell this unit?

450-e-waterside-_2902-livingroom.jpg

450-e-waterside-dr-_2902-diningroom.jpg

Alison Kahn at Baird and Warner has the listing. You can see more pictures and a guided tour here.

Unit #2902: 3 bedrooms, 2.5 baths, 2131 square feet

  • Sold in February 2008 for $1,141,551
  • Currently listed for $1.3 million (plus $50k each for 2 parking spaces)
  • Assessments of $897 a month
  • Taxes are “new”
  • OR- you can rent it for $6500 a month

Intrigued by the “Pocket Listing”? 4237 N. Damen in Lincoln Square

It’s been awhile since I’ve seen a “pocket listing” mentioned in the Chicago market.

A pocket listing is a property for sale that isn’t on the MLS/market but the seller makes it known that he/she is interested in receiving offers on the property.

Usually- you see pocket listings when the market is hot or the property is otherwise very unique because the seller is betting that there will be so much demand for the property that he doesn’t even need to list it and it will sell.

You also see pocket listings for properties at the very high end of the market where there would be few buyers anyway.

This 2-unit greystone at 4237 N. Damen in Lincoln Square is listed on Craigslist as a “pocket listing.”

The Craigslist ad states:

Seller Super Motivated! Rare opportunity! Unbeatable location in Lincoln Square. Chance to convert to a single family, possibly du-plex down, or simply rent out. Currently two flat that’s vacant. Lot size of 30 x 152, zoned RS-3, amazing opportunity to rehab/develop in a great neighborhood. Close to El, Metra and great restaurants!

It’s not currently on the MLS (hence the pocket listing) but it has been in the past. It was first listed for sale in September 2007.

Here’s the history:

4237 N. Damen: 5 bedrooms, 2 baths, 2 car garage, 2-flat

  • Sold in July 1998 for $305,000
  • Sold in November 2002 for $490,000
  • Originally listed in September 2007 for $725,000
  • Reduced several times
  • Was listed for $599,000 in November 2008
  • Listing canceled
  • On Craigslist as a “pocket listing” for $599,000
  • Ron Knoll at Saffron Realty Group has the listing on Craigslist (see a picture of the property there)