Gold Coast Mansion in Foreclosure Auction: 1515 N. State Parkway

Want to buy a gold coast mansion at a foreclosure auction?

Now is your chance.

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1515 N. State Parkway, an Italianate mansion built in 1906, is going to foreclosure auction this week for the mere price of $3,083,628.

That is a reduction from the current asking price of $4.975 million.

The mansion has eight bedrooms, 7.5 baths, and 8000 square feet.

Alas, it does not have parking. Here’s the listing:

OLD COAST MANSION. ITALIANATE, LIMESTONE FACADE. 30X130 LOT 17 RMS, 8 BDRMS, 7 1/2 BTHS. 6 FRPLCS. LOVELY FORMAL RMS. INTRICATE PLASTER CEILINGS. CLASSIC MOLDINGS. HRDWD FLRS. WOOD PANELED LIVING RM W/FRENCH DOORS TO 25′ BALCONY.

HAND CARVED WOOD PANELED DRM. 2 KTCHNS. LARGE FAMILY RM ADJOINS WALLED GARDEN. LARGE BDRMS. HIS & HER DRESSING RMS. SPACE FOR ELEVATOR. UNIQUE 8000 SFT. FEE PKG NEARBY. TAX FREEZE…

They don’t make them like this anymore.

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Sorry- no pictures in the listing of the kitchen OR of the 7.5 baths.

The property has a history of foreclosure issues. It has had a lis pendens filed against it since May 2006. It also had one filed in October 2004.

I can’t find a prior sales price, but public records show a $6 million mortgage taken out on the property in July 2004.

1515 N. State Parkway: 8 bedrooms, 7.5 baths, 8000 square feet

  • I can’t find a prior sales price
  • Currently listed for $4.975 million
  • Foreclosure auction price of $3,083,628
  • Taxes of $48,838
  • Koenig & Strey has the listing

Short Sale Deal in the South Loop: 1101 S. State

Apparently, this two bedroom unit at 1101 S. State in the South Loop is another one of those where the price has evoked a feeding frenzy. Thanks to the tipster who sent me info on this unit (and told me that a bunch of buyers flocked to see it last weekend.)

1101 S. State was built in 2005 and is near the popular Roosevelt Road area with good transportation, restaurants and the grocery store.

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Unit #1302 is a 2/2 with the parking included in short sale – listed for only $249,900.

From the listing:

WOW!!!! A DEAL OF A LIFETIME. THIS PROPERTY IS IN FORECLOSURE AND COULD BE PURCHASED IN SHORT SALE TRANSACTION IT IS LISTED AT LEAST $100K UNDER VALUE. IT IS A GORGEOUS 2 BED 2 BATH IN PERFECT CONDITION.

HUGE MASTER CLOSET, BALCONY IN-UNIT W/D. CITY VIEWS, HARDWOOD FLOORS. FULL AMENITY BUILDING: OUTDOOR POOL & SUNDECK. HEATED INDOOR PARKING INCLUDED! DON’T MISS THIS GOLDEN OPPORTUNITY!!!!

There are no interior pictures of this particular unit.

Unit #1302: 2 bedrooms, 2 baths, 1100 square feet

  • Sold  in July 2007 for $415,000
  • Currently listed as a short sale for $249,900 (includes the parking)
  • Assessments of $550 a month
  • 4 Sale Realty, Inc. has the listing

Unit #1002, three floors below, is also currently on the market. I’m sure the layouts are the same:

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Unit #1002: 2 bedrooms, 2 baths

  • Sold in March 2005 for $331,000
  • Sold in May 2006 for $352,000
  • Sold in August 2007 for $360,000
  • Currently listed for $364,900 (parking included)
  • Assessment of $609 a month
  • USA Real Estate has the listing

Update: $15K Reduction on One Bedroom at 2545 N. Clark

We chattered about this one bedroom at 2545 N. Clark in Lincoln Park in May 2008. It last sold in December 2006. It has recently been reduced.

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How long do you have to live in a unit to break even these days?

Lots of people are about to find out.

I don’t have the square footage on this unit. But here are the room sizes:

  • Bedroom: 12 x 12
  • Livingroom: 12 x 13
  • Kitchen: 12 x 9

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

  • Sold in December 2006 for $285,000
  • Was listed in May 2008 for $314,900
  • Reduced
  • Currently listed for $299,900
  • Rental parking available nearby
  • Assessments of $138 a month
  • Century 21 Sussex and Reilly has the listing

Tired of High Gas Prices? Walk to Work: 625 W. Jackson

625 W. Jackson, the Capitol Hill Lofts, is a late-1990s/early 2000 conversion of a brick and timber building in the near west loop.

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It’s only a few blocks west of Union Station and near Greektown. Why drive or take public transportation to work when you can walk instead?

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A two bedroom corner loft just came on the market with great windows.

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Unit #211: 2 bedrooms, 2 baths, 1348 square feet

  • Sold in May 2006 for $315,000
  • Currently listed for $314,900 plus extra for outdoor parking space
  • Assessments of $474 a month
  • Dream Town Realty has the listing

“Special Price” on Floors 7-18 in The Vetro: 611 S. Wells

We’ve chattered about The Vetro, the 232-unit new construction high rise at 611 S. Wells in the Printer’s Row neighborhood of the South Loop, in prior months.

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There have been some flippers trying to sell and/or rent in the building.

It is only about 50% sold from the developer and closings began several months ago.

I was all set to chatter about some newer units just listed on the market from the developer on the 16th floor when lo and behold the prices were reduced by $50k.

Here’s the listing for Unit #1607 which is a two bedroom plus den:

Special Pricing!!!**best Value In Area For Limited Time*** End Unit With S+e+w Exp Tons Of Nat Light. Over 1500sqft 2br Den 2.5ba Open Layout. 9ft Concrete Ceilings, Private Balcony,1.25 Granite Kit W/Mosiac Tile Backsplash, S/S Appl, Grohe Fxtrs,dble Bwl Undermnt Sink,disposal,hardwd Flrs In Living Area. Mba Incldes:limestone Tile,sep Shwr And Tub, Dble Bwl Vanity W/Limestne C-top.W/D Incl.Garage Pkg Avai

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Unit #1607: 2 bedrooms, 2.5 baths, den, 1525 square feet

  • Currently listed at “special pricing” for $434,900 (parking extra)
  • Assessments of $533 a month
  • Baird and Warner has the listing

Unit #1603’s listing says “SPECIAL PRICE FLOORS 7-18**LIMITED TIME**GREAT VALUE**”.  (I don’t yet have interior pictures on this one.)

Unit #1603: 2 bedrooms, 2.5 baths, den,  1667 square feet

  • Was listed for $518,900
  • Currently listed for $468,900 (parking extra)
  • Assessments of $699 a month
  • Baird and Warner has the listing

Are these “deals” for that location and square footage?

Pre Pre-War in the Gold Coast: 70 E. Scott

There are “pre-war” buildings (those that were built before WWII) and then there are “pre pre-war” buildings (those that were built before WWI.)

70 E. Scott in the Gold Coast is one of the latter, as it was built in 1917.

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It has all the vintage charm, but, as is common with the pre-war buildings, it lacks parking or a washer/dryer in the unit (but apparently a w/d can be installed.)

But what do you care when you have a view of the lake?

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There is a large one bedroom plus den available in the building- at 1200 square feet.

From the listing:

GOLD COAST GRAND VINTAGE VERY LARGE ONE BEDRM & DEN (NOT 2 BEDRM) ON VERY SUNNY SE CORNER. SEE THE LAKE FROM ALL ROOMS ELEGANT LIVING ROOM W/ WBFP.

HARDWOOD FLOORS, HIGH CEILINGS LARGE BEDRM NEW BATH & NEWER KITCHEN. WODERFUL EUROPEAN LANDSCAPED COURTYARD W/GRILL. PETS WELCOME. EXCLUDE ENTRY CEILING FIXTURE. OWNER IS A REALTOR.

Unfortunately, the listing only has one interior picture – of the livingroom- so there’s no way of seeing the “newer kitchen.”

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Unit #605: 1 bedroom, 1 bath, den, 1200 square feet

  • I couldn’t find a prior sales price
  • Currently listed for $458,000
  • Assessments of $518 a month
  • Taxes of $3210
  • No central air- only window units
  • Koenig & Strey has the listing

Unit #705, directly above, sold in April 2008 for $446,500. It also sold previously, in June 2002, for $418,000.

Unit #705 is the only unit to sell so far in 2008 in the building.

Re-Visiting American Invsco’s Loftominium World

If you were in Chicago in 2000, you would have seen the ads for Loftominium World, a loft conversion by American Invsco, in the real estate section.

It had the coolest pictures of brick and timber lofts with spiral staircases.

The Loftominium Conversion consisted of seven buildings:

  1. Heartbreak Lofts, 17 N. Loomis in the West Loop
  2. Hale Lofts, 14 N. Peoria in the West Loop
  3. Warehouse Lofts, 312 N. May in the West Loop
  4. Union Park Lofts, 1327 W. Washington in the West Loop
  5. 11th Street Lofts, 1020 S. Wabash in the South Loop
  6. Morgan Town Lofts, 11 N. Morgan in the West Loop
  7. Acorn Lofts, 1017 W. Washington in the West Loop

The sales staff would drive you from property to property to look at units.

These were “real” lofts, and even today, some of them are the largest and most unique you’ll find the west loop.

At the time, American Invsco had one “upgrade” of the kitchen (no choice- it was the same cabinets, granite etc in every unit if you chose to upgrade.) And I don’t remember there being a bathroom upgrade.

Some of the original kitchens and baths still exist- even nearly 10 years later.

Take this unit at the Hale Lofts, at 14 N. Peoria. It has both the original white kitchen AND the original bathroom.

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14 N. Peoria Unit #4G: 2 bedrooms, 2 baths, 1900 square feet, timber

  • Sold in June 2001 for $373,500
  • Sold in October 2004 for $390,000
  • Currently listed for $450,000 plus $10k for parking
  • Assessments of $414 a month
  • Keller Williams Realty – West Loop has the listing

This unit at the Heartbreak Lofts at 17 N. Loomis has the “upgraded” kitchen that was available but the bathroom is still in original condition.

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17 N. Loomis Unit #3H: 2 bedrooms, 2 baths, 1650 square feet, concrete

  • Sold in September 2001 for $334,500
  • Currently listed for $375,000 plus $25k for parking
  • Assessments of $424 a month
  • Keller Williams Realty – West Loop has the listing

How Badly Do You Want the Single Family Home? 2109 W. Montrose

A lot of people would rather have the single family home instead of a condo. But prices for  single family homes on the North Side have skyrocketed.

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Then there’s this 1894 two bedroom Victorian house at 2109 W. Montrose in Lincoln Square. It’s set back on the lot, so there is no garage. In fact, there doesn’t even appear to be a backyard.

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But there is a finished basement, with an office. And no one living above or below you.

I don’t know the square footage, but here are some room sizes:

  • Bedroom #1:  13 x 11
  • Bedroom #2:  12 x 11
  • Office: 12 x 12
  • Family room: 20 x 20
  • Living room: 12 x 11
  • Dining room: 12 x 10
  • Kitchen: 11 x 11

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2109 W. Montrose: 2 bedrooms, 1 bath, 2 half baths, finished basement

  • Sold in November 2002 for $318,000
  • Currently listed for $459,000 (no parking)
  • Taxes of $4202
  • Century 21 Sussex & Reilly has the listing

1920s With Lake Views: 6334 N. Sheridan

The building boom of the 1920s extended from the South Shore neighborhood to the far north neighborhoods of Edgewater and Rogers Park.   6334 N. Sheridan, also known as the Rockefeller-McCormick Building, was built during that decade of the large luxury apartment buildings.

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Built in 1924, the building has views of Lake Michigan and parking.

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This particular unit has a wood burning fireplace. This seller is also offering a “$5,000 remodel credit”.

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Unit #6F: 3 bedrooms, 2 baths, 1700 square feet, parking included

  • I couldn’t find a prior sales price
  • Currently listed for $269,900 (parking included)
  • Assessments of $671 a month
  • Window units (no central air)
  • Trio Realty Group has the listing

There have been a few recent sales in the building.

  • Unit #7D sold in May 2008 for $150,000
  • Unit #3F sold in October 2007 for $295,000

If At First You Don’t Succeed, Try, Try Again: 540 N. Lake Shore Drive

It’s back!

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Last September, I chattered about 540 N. Lake Shore Drive, the loft building in Streeterville.

Unit #221, a one bedroom, one bath, was on the market for $350,000.

It disappeared from the market without selling.

But it’s back and it’s now priced higher than last fall.

It’s actually been on and off the market since 2006.  From the listing:

BEAUTIFULLY FINISHED BRICK & TIMBER LOFT. LUXURY INTERIOR FINISHES INCLUDE STAINLESS APPLIANCES, GRANITE COUNTER TOPS CARRERA MARBLE ISLAND, HRDWD FLRS, RALPH LAUREN SUEDE PAINT WALK-IN-CLOSET, LOFTED STORAGE SPACE.

CUSTOM BOOKSHELVES & BUILT-IN COMPUTER WORK AREA. ONE OF ONLY 18 UNITS WHICH FACE EAST OVERLOOKING OHIO STREET BEACH.

Here are the room sizes:

  • Bedroom: 8 x 10
  • Livingroom/Dining room combo: 23 x 15

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Unit #221: one bedroom, one bath, 1100 square feet

  • Sold in November 2002 for $270,000
  • First listed in March 2006 for $399,000
  • Reduced
  • Withdrawn from the market in October 2006 at $360,000
  • Re-listed May 2007 for $360,000
  • Reduced
  • Withdrawn from the market in October 2007 for $350,000
  • Re-listed in June 2008
  • Currently listed for $369,900 (rental parking only)
  • Assessments of $540 a month
  • Doesn’t say there is a washer/dryer in the unit but the building allows it
  • Real Property Research Inc. has the listing

Only two units have closed so far in the building in 2008. Both closed for under $300,000.