Flipper Alert: Does Paint Matter? 8 E. Randolph

This is a tale of two flips on the same floor in MoMo, at 8 E. Randolph (otherwise known as Joffrey Tower) in the Loop.


One has been “upgraded” with paint and kitchen tile and the other has not. As a buyer, does paint persuade you?

Here’s the listing for the one that has not been painted, Unit #3005:

Spectacular 30th floor corner Unit at JOFFREY TOWER! Floor to ceiling windows afford breathtaking views of River & City. Chef’s kitchen w/S.S. appliances, Granite counter-tops and Contemporary cabinets. 2 large BR, 2 luxury Bth, 9ft ceilings, W/D hook-up H/W floors and a private covered balcony.

This Unit will ‘WOW’ you every step of the way, downtown living at it’s best! One garage space deeded separately 60k



Karen Cobbing-Loft at Coldwell Banker has the listing. See more pictures here.

Unit #3005:  2 bedrooms, 2 baths, 1460 square feet

  • Sold in September 2008 for $515,000
  • Currently listed for $515,900 plus $60k for parking
  • Assessments of $623 a month
  • Taxes are “new”

Here’s the listing of the unit that has been painted, Unit #3008:





Anita Constant at Coldwell Banker has the listing. See more pictures here.

Unit #3008: 2 bedrooms, 2 baths, 1348 square feet

  • Sold in June 2008 for $485,000
  • Currently listed for $595,000 (parking probably available for extra)
  • Assessments of $633 a month
  • Taxes are “new”

Not Everything is a Loft in the West Loop: 1016 W. Madison

This 8-unit building at 1016 W. Madison in the West Loop was converted into condominiums in 1998 but you won’t see any exposed brick here. However, you will still see 14-foot ceilings.


A 1850-square foot unit is on the market. Here’s the listing:

Designer Specified & Executed Home In Chic West Loop Boutique Bldg. Elegant & Intimate W/2 Units Per Floor. Unique 1850 Sqft, 2br/2ba Flrpln W/Ovrszd Rooms.

Soaring 14′ Ceilings, Current & Tasteful Finishes, Hdwd Flrs, Fp, SS Appls, Maple Cabs, Granite Cntrs, Beautiful Fixtures, Lg Laundry Rm & Great Closet Space. Gar Prkg Included. Across From Starbucks, Near Restrnts, Xway. A Very Special Home!



Robert John Anderson and Harold Blum at Baird & Warner has the listing. See more pictures here (if the B&W links don’t work properly.)

Unit #2S: 2 bedrooms, 2 baths, 1850 square feet

  • Sold in August 1998 for $270,000
  • Currently listed for $599,000 (includes the parking)
  • Lis pendens filed in May 2008
  • Assessments of $455 a month
  • Taxes of $6,022
  • Central Air

$140K Reduction: 1021 W. Bryn Mawr in Edgewater

We’ve chattered about this 3-bedroom unit in the The Manor House, at 1021 W. Bryn Mawr, in Edgewater twice before.


It’s been on the market since at least last November, when we first chattered about it. It’s now been reduced by $140,000.

Here’s the listing:

Amazing 3-level 3 bed 2 bath in classic historic building. ‘The Manor House’ is Edgewater’s finest gem! A statuette fountain greets you and your guests.

Vintage characteristics include original woodwork, hdwd floors, vaulted beamed ceilings, leaded glass, ballroom sized living/great room, free-standing fireplace PLUS 3 outdoor spaces! Heated garage parking included w/option to purchase 2nd adjacent spot. Great value!

Last March, many of you thought it needed to be reduced. Well- it has. How much lower will it go?



John Robinson at Century 21 Sussex & Reilly has the listing. See more pictures here.

Unit #3B: 3 bedrooms,  2 baths, with three different outdoor spaces

  • I couldn’t locate an original sales price
  • Was listed in November 2007 for $539,000 
  • Reduced
  • Was listed in March 2008 for $499,000 included one heated parking space 
  • Reduced
  • Currently listed for $399,000 includes one heated parking space
  • Assessments of $450 a month
  • Taxes of $6,352
  • Central Air

What’s a 1-Bedroom Worth in Southport? 1148 W. Roscoe

Ah, the elusive 1-bedroom condo with parking in Southport.


This 1-bedroom at 1148 W. Roscoe first sold in July 2005 as new construction.  That was at the peak of the market.

Who’s going to be buying it now?

Here’s the listing:

Trying to find a one bedroom in the Lakeview/Southport Corridor/Wrigleyville areas with newer finishes, great space & parking? That can be extremely difficult since not many new one bedrooms are built in the area. This is the exception!

Built only a few years ago, this newer construction home offers all the amenities of new construction with a great layout and an amazing location. The living room has excellent width, providing for easy furniture placement. A gas fireplace has been highlighted by a slate tile surround and wood mantel and shelving on each side for a striking focal point to the room. Access to a private outdoor patio is off this living room area thru glass sliding doors.

The kitchen is absolutely stunning! An upgraded and oversized island with overhang creates an informal eating area, while cherry cabinetry combine with a beautiful granite choice and stainless steel appliances for a very high-end look. Darker stained hardwood floors on a diagonal are throughout the kitchen and living areas for a wonderful look.

The master bedroom is quite large, allowing for large bedroom furniture. Great wall space allows the room to accommodate several pieces of furniture, while the closet has ample room for clothing. The bathroom has stunning finishes, included a glass vessel sink and countertop and natural stone finishes. A closet was added in the bathroom for convenience.

As you go out the back of the home, there is a covered parking space just outside the home included in the price! From this ideal location, you can walk to absolutely everything. The Southport Corridor is a couple blocks to the west, while Wrigleyville is just to the east. This is the perfect Lakeview location with any restaurant, bar or café within easy walking distance, while the el is close by as well.

Here is your rare opportunity for a newer construction one-bedroom home in an ideal location with striking finishes and parking! Welcome home.

The square footage isn’t provided but it doesn’t look much bigger than 725 square feet. Here are some of the room sizes:

  • Livingroom: 17×13
  • Kitchen: 11×9
  • Bedroom: 12×10
  • Terrace: 10×3



Ed Jelinek at Coldwell Banker has the listing. See more pictures and the virtual tour here.

Unit #1W: 1 bedroom, 1 bath

  • Sold in July 2005 for $293,000
  • Currently listed for $315,000 (parking included)
  • Assessments of $120 a month
  • Taxes of $3,736

A Bank Gets Aggressive With Price in Beverly: 10301 S. Leavitt

This 1930s Georgian at 10301 S. Leavitt in Beverly is bank-owned.


It was originally listed in August 2008 and has had a series of aggressive price reductions.

This bank doesn’t appear to be messing around.

There are no interior pictures (sorry.)

Here’s the listing:

Beautiful Beverly Georgian style home. Sold as is. No disclosures, no termite, no survey.

Steve Meeker, Broker has the listing. See the listing here.

10301 S. Leavitt: 3 bedrooms, 2.5 baths, 1.5 car parking, 2420 square feet

  • Sold in August 2006 for $345,000
  • Sold in December 2006 for $475,000
  • Originally listed in August 2008 for $400,000
  • Reduced
  • Was listed in early October 2008 for $279,900
  • Reduced again
  • Currently listed for $269,900
  • Taxes of $7312
  • No central air

Market Conditions: Median Price Declines 10.6% in Chicago in September

The September monthly sales and price stats for Chicago were released late last week.

Sales declined less than August- falling “only” 16% compared with a year-over-year decline of 30.8% the month before.

From Crain’s:

In the city, a total of just 1,770 single-family homes and condominiums were sold in September, compared with 2,108 during the same month a year ago.

In the entire Chicago area, sales last month dropped 6.2%, to 6,371 homes, compared with September 2007.

But prices are falling more sharply now.

In August, the Chicago median price was $295,750,  down 3% from August 2007 which saw a median of $305,000.

In September, prices fell 10.6% year-over-year to $267,750.

City home sales dive 16%; median price tumbles 13% [Crain’s Chicago Business, Oct 24, 2008]

(Editor’s Note: This Crain’s headline is somewhat misleading as the median price fell 13% in the entire Chicago-area, not in the city itself. Prices fell 10.6% in the city.)

We Love Authentic Lofts: 727 S. Dearborn in Printers Row

There’s something cool about the Donohue Annex at 727 S. Dearborn in Printers Row. It’s attached to the Donohue next door but it’s not timber, it’s concrete lofts.


This large brick 2-bedroom loft is on the market.   Here’s the listing:

Incredibly spacious 2200+sf AUTHENTIC TRUE LOFT in HISTORIC Donohue Annex!

This elegant, highly upgraded LOFT feat: dramatic, open loft flr plan, soaring ceilings, expsd brk, hrdwd flrs throughout, gourmet kit w/granite counters, island & sub-zero appl, spa Kohler bath w/claw foot tub, WBFP , lrg floor to ceiling windows, W/D in unit, ROOF RIGHTS!

PKNG avail. Prime Printer’s Row location steps from EVERYTHING



Schwind Realty & Development has the listing. See more pictures here.

Unit #910: 2 bedrooms, 1.5 baths, 2200 square feet

  • Sold in October 1989 for $80,000
  • Sold in July 1997 for $227,000
  • Currently listed for $592,500
  • Assessments of $970 a month
  • Taxes of $4,691
  • Parking available nearby for $48,000
  • No central air- window units

The Andersonville Single Family Home: 1655 W. Hollywood

We’ve chattered a lot about renting versus owning. Here’s a single family house at 1655 W. Hollywood in Andersonville that you can either buy or rent.


Which is the better deal?

Here’s the listing:

This Brick Andersonville 4 bedroom, 3.5 baths home was built for the chef and entertainer in you. The kitchen has an 8 ft island, 6-burner Thermador stove, prep sink, full wall of cabinets and opens up to a breakfast room with oversized glass patio doors leading to a huge outdoor deck. The separate dining room, formal living room, and kitchen are all wired for sound.

The 2nd level has 3 generous sized Bedrooms plus a den or office, two full bathrooms. The all marble master bath has a separate shower with body sprays and a Jacuzzi tub double vanity sinks.

The walk out Lower level is all opened for a huge family room, rec-room, wet bar wine refrigerator, game room, 4th bedroom, full bathroom, also wired for sound.

Other features… Dual system heating and cooling systems, Hardwood floors, and custom window treatments throughout, oversized 2 car garage, landscaped yard.

This home sits on a quiet tree-lined residential street. Move in ready.



Joe Green at Coldwell Banker has the listing. See more pictures and a virtual tour here.

1655 W. Hollywood: 4 bedrooms, 3.5 baths, 2700 square feet, 2 car garage

  • Sold in September 1997 for $165,500
  • Sold in January 2004 for $340,000
  • New construction in 2006
  • Originally listed in August 2008 for $775,000
  • Reduced
  • Currently listed for $749,000
  • Taxes of $5457
  • Central air
  • OR you can rent it for $3500 a month

Selling for a Profit? 1864 N. Fremont in Lincoln Park

Steve wanted to chatter about a seller actually making money in this market so he brought up 1864 N. Fremont, Unit #2 in Lincoln Park.


It is currently under contract after a little over 2 months on the market.

Will this seller make money?

Here’s the listing:

No Assmt!! Prime Lincoln Park 3bed/2.1bath Duplex-up. Has Presence & Feel Of Sfh! Private Front & Back Entrances, Tree Top Views, 2 Sep Stairwells, Extremely Spacious, High/ Vaulted Ceilings.

Main Level Feats: Pwdr Rm, Granite Kitchen With SS Appl Open To Large Family Rm & Outdoor Deck W/ Retractable Awning, Formal Living/Dining Combo W/Fp. Dramatic Mstr Suite, Closets Galore! Everything You Need …



Dana DiPasquale at Baird & Warner has the listing.  See more pictures here.

Unit #2: 3 bedrooms, 2.5 baths, duplex up

  • Sold in October 2000 for $750,000
  • Sold in November 2001 for $722,500
  • Sold in October 2005 for $900,000
  • Originally listed in July 2008 for $1.089 million
  • Reduced
  • Currently listed for $999,000
  • Under contract
  • Taxes of $9928
  • No monthly assessment

Selling Under the 2006 Price: 925 W. Fullerton in Lincoln Park

If you bought within the last 2-years and have to sell now, it’s tough to make any profit.


Just ask the sellers of this 1890s home at 925 W. Fullerton in a landmark district in Lincoln Park. It is listed for $86,000 less than the 2006 purchase price.

Is the lack of parking hurting this home? (Apparently, you can park somewhere nearby- but it doesn’t appear to actually have parking with the house.)

Here’s the listing:

Restored By A Well Known Architect, This Bright & Spacious Historic Home Combines Comtemp Amenities W/Beautiful Vint Feat & Includes A Full Inlaw Or Guest Apt On The Lil. Off-st Pk For 2 Cars Plus Guest Pk Is Also Incl.

This Landmark Home Is Part Of The Seminary Th Community & Is Adjacent To A Private Pk. Ex Schools & Trans Are Nearby. A Great House In A Great Chicago Area!



Louisa McPharlin at Coldwell Banker has the listing. See more pictures and a virtual tour here.

925 W. Fullerton: 5 bedrooms, 3.5 baths, no square footage listed

  • Sold in February 1996 for $389,000
  • Sold in October 2001 for $850,000
  • Sold in June 2006 for $1,082,150
  • Originally listed in February 2008 for $1.25 million
  • Reduced several times
  • Was listed in June 2008 at $1.099 million
  • Reduced
  • Currently listed at $996,000
  • Taxes of $16,830
  • Central air