Flipper Alert: A 2/2 under $300k in 1720 S. Michigan

We’ve chattered about the modern new highrise at 1720 S. Michigan in the South Loop before.

CMK, the developer, is still trying to sell units in the building, which began closings in the Summer of 2007.

This two bedroom unit caught my eye. It’s the cheapest two bedroom that has two full baths.

Here’s the listing:

2 bedroom, 2 bath southeast corner unit. Window in each bedroom and living room. Oak hardwood floors. Stainless steel appliances and granite in kitchen. 9×18 terrace off living room is open to east and west for great outdoor living. Garage space additional.

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Alan Shultz at Coldwell Banker has the listing.

Unit #608: 2 bedrooms, 2 baths, 1069 square feet

  • Sold in September 2007 for $353,000
  • Currently listed for $299,500 (parking is $36,900 extra)
  • Assessments of $416 a month
  • Taxes are “new”

1720 S. Michigan [CMK’s website]

Didn’t Buy It? Now You Can Rent It: 1434 N. Astor

A third-floor two bedroom duplex vintage unit was recently on the market at 1434 N. Astor in the Gold Coast. (This is a different unit from the vintage greystone at 1331 North Dearborn we recently chattered about).

After being listed a few months, a tipster told me it recently sold.

But did it?

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It has now been re-listed as a rental. The pictures in the rental listing are the same as the ones that were in the for sale listing.

Apparently, if you missed out on buying it, you can still live in it by renting it.

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Peter Tortorello at Koenig & Strey has the rental listing (pictures and virtual tour available).

Unit #3: 2 bedrooms, 2 baths, 1400 square feet, duplex

  • Sold in June 1998 for $302,500
  • Was listed in Spring 2008 for $729,000
  • Sold in July 2008 for $685,000 (?)
  • Currently listed for rent at $2850 (parking is leased)
  • Assessments of $750 a month
  • Taxes of $10,613
  • Space pac cooling

We Love City Terraces: 1255 N. State Parkway

There are quite a few terraces in The Churchill, at 1255 N. State Parkway, in the Gold Coast but you wouldn’t know it from walking by.  Most of the terraces are interior to the building or on the roof.

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This second floor unit with a terrace just came on the market.  The terrace is 12 x 4.

Here’s the listing:

NEWLY RENOVATED VINTAGE GEM W/ 2 OUTDOOR SPACES AT THE CHURCHILL. SUN-FILLED 2ND FLR HOME W/ LARGE BALCONY + PRIVATE TERRACE. ORIGINAL DETAILS INCL PLASTER WALL & CEILING MOLDINGS, DOOR HARDWARE & BARREL-VAULTED D.R. CEILING.

STUNNING NEW BATH W/ WALK-IN MARBLE SHOWER & HEATED FLR. NEW UPDATED KITCHEN W/ HONED STONE COUNTERS. ABUNDANT CLOSET SPACE. NEWER PELLA WINDOWS. NEW A/C UNIT.

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Patrick Lynch at Prudential Preferred has the listing.

Unit #2J: 1 bedroom, 1 bath, no square footage given

  • Sold in May 1988 for $99,000
  • Sold in January 1995 for $91,500
  • Sold in November 1998 for $174,000
  • Sold in March 2001 for $240,000
  • Sold in January 2004 for $278,000
  • Sold in November 2007 for $330,500
  • Currently listed for $360,000
  • Assessments of $861 a month (assessments include everything except phone)
  • Taxes of $3,597
  • No central air- window units
  • No w/d in the unit
  • No parking

Another New Construction Home Under Stress: 3922 N. Kilbourn

We’ve been chattering about how long developers can continue to hold onto their properties in this slow market.

There are plenty of new construction single family homes in the city sitting empty. This house at 3922 N. Kilbourn in the Old Irving Park neighborhood is one of them.

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The listing says it is subject to short sale but the foreclosure auction is scheduled for this week:

New construction 4 bedroom, 3.5 bath home in Old Irving Park. 52-foot frontage lot on tree-lined Kilbourn. Cedar-sided with full front porch. Large, open, bright rooms, 3 levels of living space. Huge living/dining room combo with fireplace. Family room with fireplace off cherry and granite deluxe kitchen with sliding doors to rear deck.

Master suite with cathedral ceilings, double walk-in closets, marble bath with separate shower. Zoned gas forced air/central air, alarm. 2-car attached garage. Near all transportation. Subject to Bank Short Sale Approval.

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Peggy Brockhaus at Coldwell Banker has the listing.

3922 N. Kilbourn: 4 bedrooms,  3.5 baths, 2 car garage

  • Currently listed as a short sale for $749,900
  • Foreclosure auction scheduled for Aug 1
  • Foreclosure auction price of $653,508
  • Taxes are NEW

We Love Authentic Lofts: 11 N. Green in the West Loop

The West Loop has some of the most authentic lofts in the city, especially in buildings that were converted a decade ago.

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11 N. Green is an 11-unit brick and timber building that’s within a short stroll to the restaurants on Randolph Street.

This 3-bedroom duplex unit has 17-foot high ceilings.

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Maria Sabatini at Rubloff has the listing.

Unit #2B: 3 bedrooms, 3 baths, 2200 square feet, duplex

  • Sold in May 1999 for $284,000
  • Currently listed for $749,000
  • One car parking included (second is $25k)
  • Assessments of $490 a month
  • Taxes of $4,280

Gold Coast Location Without the Gold Coast Price: 30 E. Elm

Maybe you just want to be near Rush Street, Oak Street Beach and shopping but don’t have millions to spend?

This 2/2 in 30 E. Elm could be for you.

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This one has a renovated kitchen. From the listing:

BEST PRICED GOLD COAST 2BR/2BA WITH BALCONY! STEPS TO THE LAKE. TOTALLY NEW KITCHEN W/STAINLESS APPLIANCES & GRANITE COUNTER TOPS.

ASSESSMENTS INCLUDE HEAT & BASIC CABLE. BUILDING OFFERS 24HR GARAGE. ON SITE MANAGER. RESIDENT ENGINEER. THIS IS A NO DOG AND NO IN UNIT WASHER/DRYER BUILDING. EASY TO SHOW.

The bedrooms are enormous: both are 15 x 11.

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Phil Moss at Sudler Sotheby’s has the listing.

Unit #10A: 2 bedrooms, 2 baths, no square footage given

  • I couldn’t locate an original sales price
  • Currently listed for $299,000 (fee parking)
  • Assessments of $570 a month (includes heat and basic cable)
  • Taxes of $3,644
  • No central air- window units

Prices Continue to Fall in River City: 800 S. Wells

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We last chattered about River City, the American Invsco conversion at 800 S. Wells in the South Loop, in March 2008.  At that time, foreclosures were selling at 55% off prior sales prices.

Were buyers who bought the 3-bedroom duplexes in the last year a bit too early? What about buying now?

Prices have continued to fall in the building on those size units.

To Recap: there have been a bunch of 500-numbered 3-bedroom duplex condos that have been on the market either as short sales, in foreclosure, or reduced. Most of these units sold originally in the $500,000 range.

One of them re-sold in December 2007:

Unit #551: 3 bedrooms, 2.5 baths, 1600 square feet

  • Sold in December 2004 for $511,700
  • Was listed in October 2007 for $254,900 (bank owned)
  • Sold in December 2007 for $221,000

Unit #542 was on the market when we last chattered about this building in March.

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Unit #542: 3 bedrooms, 2.5 baths, 1600 square feet

  • Sold in July 2005 for $500,000
  • Bank owned
  • Was listed for $318,000 in October 2007
  • Was still listed in March 2008 for $318,000 (fee parking available)
  • Reduced
  • Currently listed for $229,000
  • Assessments of $856 a month
  • Taxes of $3,535
  • Chicago Realty Partners has the listing

Currently, there are 3 other duplex units on the market.

  • Unit #525: Listing says rented until 7/1
  • Unit #536: Short Sale
  • Unit #552: Short Sale- is under contract

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Unit #525: 3 bedrooms, 2.5 baths, 1600 square feet

  • I couldn’t find a prior sales price
  • Currently listed for $354,000 (fee parking)
  • Assessments of $978 a month
  • Taxes of $1,288
  • Kale Realty has the listing
  • “Investors: Amazing 2 Level Duplex Townhome Style Condo in Booming South Loop”

Unit #536: 3 bedrooms, 2.5 baths, 1600 square feet

  • I couldn’t find an original sales price
  • Short Sale
  • Currently listed for $199,000
  • Assessments of $862 a month
  • Taxes of $6,380
  • The Lake Shore Drive Group has the listing

Unit #552: 3 bedrooms, 2.5 baths, 1600 square feet

  • I couldn’t find an original sales price
  • Short Sale
  • Currently listed for $199,000
  • Under contract
  • Assessments of $884 a month
  • Taxes of $6,541
  • CJ George-Wolff at Koenig & Strey has the listing

Wicker Park Duplex with Secret Staircase: 1530 N. Paulina

If you weren’t paying attention, you might not realize that this 3-bedroom unit at 1530 N. Paulina in Wicker Park is a duplex.

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Because there’s a secret staircase in the floor that gets you to the duplex part of the unit.

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Here’s the listing:

Stately vintage on the outside with chic style and modern convenience on the inside. Private entrance, extra wide unit with 2600 square feet, lives like a single family and far from cookie cutter.

Details galore, was developer’s unit. Open floorplan with 12’ ceiling and great East, South and West exposure for tons of natural light. Ideal for large art and for live/work space. Hardwood floors on main and limestone on lower. Highly upgraded master bath, fireplace, private 15X15′ outdoor space. One garage space included.

Anne Ewasko at Rubloff has the listing.

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Unit #F: 3 bedrooms, 3 baths, 2600 square feet

  • Sold in December 2006 for $630,000
  • Currently listed for $675,000 (parking included)
  • Assessments of $315 a month
  • Taxes of $10,153

$600k Reduction on South Loop Townhouse: 232 E. 14th

Remember this luxury South Loop townhouse at 232 E. 14th Street? We chattered about it in December 2007.

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It is still on the market and has been reduced by $600,000.

Cynthia Bauer at Sudler Sotheby’s has the listing.

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232 E. 14th, Unit #1E: 4 bedrooms, 2 full and 2 half baths, 4400 square feet

  • Sold in June 2004 for $1,391,645
  • Was listed in December 2007 for $2,599,000
  • Reduced
  • Currently listed for $1,999,999
  • 2 car attached garage
  • The listing states there is a “walnut elevator”
  • Taxes of $20,200

Want Space? Head to Rogers Park: 7355 N. Seeley

There are lots of new conversions in Rogers Park right now but this one at 7355 N. Seeley caught my eye.

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The 3-unit building has great windows.

Currently, there are two units on the market including a 4 bedroom, 3 bath that is 3400 square feet.

This is the smaller three bedroom unit:

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Barbara O’Connor at Baird and Warner has the listings.

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

  • Currently listed for $324,900
  • Parking $15k extra
  • Assessments of $175 a month
  • Taxes are NEW