Forget Helmut Jahn: Live in Contemporaine at 201 W. Grand

If you go on certain of the Chicago Architecture Foundation’s walking tours, you might hear them mention Contemporaine, the concrete modern “masterpiece” at 201 W. Grand in River North.

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Built in 2004, it only has 28 units (it was supposed to have more but owners combined units.)

We’ve chattered about a penthouse unit with its own Japanese garden before (which is still on the market.)

But this two bedroom plus den recently came on the market and I was struck by how similar in size it is to the three bedroom units in Helmut Jahn’s 600 N. Fairbanks.

It also has the similar modern style, with floor to ceiling windows and euro-style kitchen.

But this unit is priced less than the cheapest ’01’ tier unit we’ve been chattering about in 600 N. Fairbanks (Unit #1301 which is currently under contract).

Is this unit a steal?

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Unit PH5: 2 bedrooms, 2 baths, den, 1791 square feet

  • Sold in November 2004 for $766,500
  • Currently listed for $749,000 (looks like parking is included- but I can’t tell for sure)
  • Assessments of $831 a month
  • Taxes of $11,081
  • Sudler Sotheby’s has the listing (a virtual tour is on the website)

New Construction Trolley Tour: This Time in Streeterville

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Interested in Streeterville condos?

Becky Thomson, who runs the New Construction Trolley Tours, is heading to Streeterville this weekend.

  • Date: June 29
  • Time: 1 pm
  • Cost: FREE
  • Meet: 600 North Lake Shore Drive

You must reserve a spot: call 847-337-7427 or sign up at: Streetervilletour.com

From the website:

I will take you to some of the top projects in the area and save you the hassle without any cost to you ! The developments on this tour reflect a wide variety of price points, floor plans, amenities and delivery dates with move-in dates as early as tomorrow or as late as 2010. Whether you are looking for yourself, for a second home, or for an investment, you will find what you are looking for.

Enjoy an informational tour of the neighborhood as well as free parking, great food, prizes, and absolutely no pressure!  

The buildings you will be visiting are:

  1. 600 N. Lake Shore Drive
  2. The Fairbanks
  3. The St. Clair at Cityfront Plaza
  4. 550 St. Clair
  5. ParkView

As usual, anyone who goes- please fill us in on your observations. I know several of you have gone on the tour before.

Happy Condo Shopping!

1930s Vintage Without the High Assessments: 4712 N. Paulina

Many of us like the elegance of the big 1920s and 1930s vintage buildings, many which are located along the lakefront.

But the high assessments keep us from buying in those buildings.

4712 N. Paulina in Ravenswood may be the solution to the high assessment problem.

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The 1930s four story building evokes the grandeur of the big co-op buildings with large  units sporting wood burning fireplaces but the assessments are a third of the cost.

And the building has parking too.

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Unit #2N: 3 bedrooms, 2 baths,  sunroom, 2200 square feet

  • I couldn’t find an original sales price
  • Currently listed for $429,000 (parking included)
  • Assessments of $496 a month
  • In-unit W/D
  • No central air- window units
  • Coldwell Banker has the listing

We Love Authentic Lofts: 515 N. Noble in River West

If you want a true authentic loft with no walls, then 515 N. Noble in River West is your next home.

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This brick and timber loft is 1400 square feet with walls only for the bathroom and the laundry room. The bedroom is open to the living space- as it should be in a truly “authentic” loft arrangement. 

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Could you handle living without walls?

This livingroom is 33 x 16.

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The bedroom area is next to the kitchen in this photograph below:

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Unit #209: 1 bedroom, 1 bath, 1400 square feet

  • Sold in October 2000 for $220,000
  • Currently listed for $325,000 (includes a parking space)
  • Assessments of $337 a month
  • @Properties has the listing

There are four lofts available in the building ranging from approximately 1200 to 1400 square feet and priced from $298,000 to $325,000. All have w/d and include the parking.

Reductions Abound in the $600,000 Price Range: 1013 W. Webster

If you think it’s tough to sell a condo for $450,000- try the $600,000 to $700,000 price range.

This is the range where we’ve seen the most price reductions- even in Lincoln Park.

1013 W. Webster #7 in the DePaul neighborhood of Lincoln Park seems to have it all: location, a low assessment and even two car garage parking.

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But it’s been reduced twice since March.

Here’s the listing:

Magnificent, historic timber ceiling 3 bedroom, 2 bathroom townhome condo that has been recently rehabbed. Pride of ownership is evident in every last detail. Exposed brick. Beautiful chef’s kitchen.

2-car attached private garage with tons of storage. Fantastic penthouse 30×15 master suite with woodburning fireplace, marble steam showers, cedar walk-in closet, side by side washer/dryer, laundry room. Home is second to none in a prime location.

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Unit #7: 3 bedrooms, 2 baths, 2 car private garage with storage

  • Sold in July 2006 for $685,000
  • Originally listed in March 2008 for $685,000
  • Reduced
  • Listed in April 2008 for $659,000
  • Reduced in June 2008
  • Currently listed for $649,000 (includes the two car garage)
  • Assessments of $185 a month
  • I can’t find tax information- new construction in 2006???
  • Coldwell Banker has the listing

Selling for a Loss in the Brewster: 2800 N. Pine Grove

We’ve chattered about the historic Brewster, at 2800 N. Pine Grove, in Lakeview before (Charlie Chaplin’s penthouse is still on the market, by the way, and has been reduced another $20k to $565,000. It last sold in 2005 for $545,000).

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Two other units are currently on the market, a two bedroom and a studio.

It looks like both sellers are going to take losses on their units.

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Unit #5A: 2 bedrooms, 1 bath

  • Sold in March 2000 for $187,000
  • Sold in August 2002 for $241,000
  • Sold in May 2004 for $279,500
  • Currently listed for $275,000
  • Assessments of $333 a month
  • No w/d in the unit (but building allows it)
  • No parking
  • Window unit air conditioning
  • Second bedroom is “open” to the rest of the unit
  • Prime Property Partners has the listing

This studio is under contract. I don’t have the square footage but the living area is 18 x 16.

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Unit #5L: studio

  • Sold in September 2007 for $146,000
  • Currently listed for $139,900
  • Under contract
  • Assessments of $165 a month
  • No washer/dryer in the unit
  • Baird & Warner has the listing

“Time is of the Essence” in Short Sale at 545 W. Brompton

This short sale of a 2 bedroom, 1 bath top floor unit at 545 W. Brompton in Lakeview has been on the market since March 2008.

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It’s been reduced by $37,000.

It doesn’t have parking, but it does have skylights. Here’s the listing:

SHORT SALE (SEE NOTES) EXTRA LARGE 2 BEDROOM. GREAT VINTAGE DETAILS, IN WALKUP WITH COURTYARD FEATURED IN BETTER HOMES AND GARDENS. TOP FLOOR WITH SKYLIGHT/NATURAL LIGHT.

SOME FINISHED HARDWOOD FLOORS, MAPLE CABINETS, WBFP, AND GREAT OPEN FLOORPLAN. WALK TO WRIGLEY, LAKE, AND PUBLIC TRANSPORTATION. GREAT OPPORTUNITY!! PARKING AVAILABLE IN NEIGHBORHOOD. TIME IS OF THE ESSENCE, SO PLEASE SUBMIT O…

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Unit #3S: 2 bedrooms, 1 bath, 1000 square feet

  • Sold in December 2002 for $210,000
  • Sold in August 2005 for $250,000
  • Originally listed in March 2008 for $275,000
  • Reduced several times
  • Currently listed at $237,000
  • Window air conditioning units
  • Assessments of $354 a month
  • Exit Realty Group has the listing

Case-Shiller: Chicago Prices down 9.3% from Apr 2007

The S&P/Case-Shiller Home Price Index for April was released this morning. Prices in the top-20 metro areas were down 15.3% from April 2007.

Chicago saw less of a drop. From the Tribune:

Most of the 20 metro areas posted annual declines, though Chicago managed a slight gain to 150.44, from 150.33. However, Chicago prices are down 9.3 percent from April 2007, according to the index.

The top-10 city index fell 16.3%- the largest in 20 years.

Another Reduction on the Townhouse at 2707 N. Lincoln

We first chattered about this townhouse at 2707 N. Lincoln in Lincoln Park in March 2008.

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It was reduced in April by $10,000.

It’s been reduced again by another $10,000.

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This is the property that has the pulldown ladder that gets you up to this deck on the roof. Otherwise, there is no other outdoor space with the unit.

Unit #C: 2 bedrooms, 2 baths, “bonus room”

  • Sold in August 2001 for $327,000
  • Sold in August 2004 for $353,000
  • Sold in March 2006 for $362,500
  • Was listed in March 2008 for $399,000 (garage attached)
  • Reduced
  • Was listed in April 2008 for $389,900
  • Reduced
  • Currently listed for $379,900
  • Assessments of $182 a month
  • Apostal Group at Coldwell Banker has the listing

Why isn’t this selling? Tipsters have told me that when it was originally listed there were droves of people going to see it.

Sellers Who Aren’t Budging on Price: 1814 N. Lincoln Park West

We last chattered about this Old Town vintage three bedroom last February. And as you can see from the pictures, with lovely snowfall in the yard, the pictures are from the winter as well.

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But despite sitting on the market for at least six months, the sellers have not budged on price.

The unit was listed for $799,000 in February and continues to be listed at $799,000.

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Unit #4: 3 bedrooms, 2 baths, 1 car parking

  • Sold in November 2000 for $595,000
  • Sold in October 2004 for $710,000
  • Currently listed for $799,000
  • Assessments of $350 a month
  • Rubloff still has the listing