Does the South Loop Still Have All the Best Deals? A 2-Bedroom at 1101 S. State

1101 s state

This 2-bedroom on the 21st floor at 1101 S. State in the South Loop came on the market in September 2015.

The building was built in 2004 and has 242 units, a doorman, and an outdoor pool.

This corner unit has the very sunny south and west exposures.

The listing says there are custom window treatments with blackout blinds in the bedrooms.

There are Brazilian cherry floors in the main living area.

The kitchen has a breakfast bar along with granite counter tops and stainless steel appliances.

The unit has central air, washer/dryer in the unit and garage parking is included.

Originally listed under $350,000, at $349,900, it has been reduced to $345,000.

That still makes this unit, at 1200 square feet, one of the more affordable 2/2s in the GreenZone.

Even though prices have risen in the last few years, is the South Loop still the place to look for deals?

Jennifer Liu at Jameson Sotheby’s has the listing. See the pictures here.

Unit #2107: 2 bedrooms, 2 baths, 1200 square feet

  • Sold in November 2005 for $401,000
  • Bank owned in February 2011
  • Sold in November 2011 for $215,000
  • Originally listed in September 2015 for $349,900
  • Reduced
  • Currently listed at $345,000 (parking included)
  • Assessments of $728 a month (includes doorman, cable, Internet, pool, exterior maintenance, scavenger, snow removal)
  • Taxes of $4035
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×10
  • Bedroom #2: 13×10

3-Bedroom Contemporary Renovation With Lake Views: 40 E. 9th in the South Loop

40 e 9th

This 3-bedroom in 40 E. 9th in the South Loop came on the market in October 2015.

The listing calls it “architecturally renovated” in the contemporary style.

It has north and east exposures with 2 of the 3 bedrooms facing east with some lake views.

It has a beamed ceiling and stained concrete floors along with contemporary finishes.

There’s an 8 foot wet bar.

The Master Suite has an equipped office with lake views and a spa-like bathroom with a walk-in rain shower and two closets.

The kitchen has wood modern cabinets but everything else is stainless including the appliances, counter top and sink. There’s a wine fridge.

The unit has central air and washer/dryer. It doesn’t say parking is included but it looks like it has a garage space.

Priced at $794,000, is this another sign that the South Loop is on its way to a full condo recovery?

Brenda Mauldin at Baird & Warner has the listing. See the pictures here.

Unit #1406: 3 bedrooms, 3 baths, 2000 square feet

  • Sold in November 2014 for $350,000
  • Originally listed in October 2015 for $794,000
  • Currently still listed at $794,000
  • I can’t tell if that price includes a parking spot or not
  • Assessments of $1214 a month (includes a/c, doorman, cable, exercise room, exterior maintenance, scavenger and snow removal)
  • Taxes of $6650
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 21×20
  • Bedroom #2: 15×11
  • Bedroom #3: 17×10

South Loop Penthouse Does It In Style With 2 Waterfalls and a Wet Room: 1515 S. Prairie

1515-s-prairie-approved

This 3-bedroom penthouse at 1515 S. Prairie in the South Loop has been on and off the market for years but recently came back on the market in September 2015.

This penthouse has east views of the Lake and Soldier Field.

The unit has several features you rarely see in a downtown Chicago condo including 2 interior waterfalls and fish ponds (and I wish the pictures showed them better. Darn.)

There’s also a wet AND a dry bar (what’s a “dry bar”?)

The master bathroom has a 12×6 “wet room” with steam, body sprays and multiple shower heads just like you were at an upscale spa (and there IS a good picture of it in the listing. Check it out.)

The listing says the kitchen has been upgraded and has commercial grade appliances including 3 ovens, a built in coffee maker, custom millwork and cabinetry.

There are also 5 fireplaces.

It has central air and 3 garage spaces are available for $30,000 each.

Listed at $1.299 million, for 4,000 square feet, is this a deal for a downtown penthouse with this square footage?

Jeff Lowe at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #1410: 3 bedrooms, 3.5 baths, 4000 square feet

  • Sold in December 2007 for $1.8 million including 3 parking spaces
  • Originally listed in 2008
  • On and off the market for years
  • Re-listed in 2013
  • Recently listed in September 2015 for $1.299 million (parking $30,000 extra for each space)
  • Currently still listed at $1.299 million (plus the parking)
  • Assessments of $2012 a month (includes heat, a/c, gas, parking, doorman, cable, exercise room, exterior maintenance, lawn care, snow removal)
  • Taxes of $17,887
  • Central Air
  • Washer/Dryer in the unit
  • 5 fireplaces
  • 2 waterfalls and fish ponds
  • Wet bar
  • Dry bar
  • Bedroom #1: 17×13
  • Bedroom #2: 17×17
  • Bedroom #3: 18×12
  • Family room: 16×16
  • Laundry room: 9×8
  • Foyer: 16×8

Want 4-Bedrooms in the South Loop? It’ll Cost You Over a Million: 1438 S. Federal

1438 s federal #2

This 4-bedroom townhouse at the Prairie Town Houses at 1438 S. Federal in the South Loop came on the market in September 2015.

This is one of only 8 corner L-shaped units in this complex. I’m not sure if the picture above is of this exact unit, but it’s a corner unit and they look alike.

Built in 1989, its on a 38×37 lot.

At 3400 square feet, it has more square footage than most single family homes.

The listing says it has been rehabbed recently and now has Trex flooring on the rooftop deck/porch, new HVAC and the kitchen has Viking appliances.

There are also custom cherry built-ins.

Three of the bedrooms are on the third floor with the fourth on the fourth level. The listing says the first floor garden suite could be converted into a fifth bedroom.

The townhouse also has a rare 2-car garage along with 2 more parking spaces on the parking pad for 4-car parking.

Originally listed at $1.345 million, it has been reduced $153,000.

4-bedroom properties are in high demand in the South Loop, and all over the Green Zone.

Why isn’t this one selling?

Thomas Bezanes at Jameson Sotheby’s has the listing. See the pictures here.

1438 S. Federal: 4 bedrooms, 3.5 baths, 3400 square feet

  • There’s no original sales price listed in the public record. It has been the same owner since 1990.
  • Originally listed in September 2015 for $1.345 million
  • Reduced
  • Currently listed at $1.192 million
  • Assessments of $190 a month (includes exterior maintenance, scavenger, snow removal)
  • Taxes of $12324
  • Central Air
  • 2-car attached garage and 2-car parking on parking pad
  • Bedroom #1: 25×14 (third floor)
  • Bedroom #2: 14×11 (third floor)
  • Bedroom #3: 13×11 (third floor)
  • Bedroom #4: 19×11 (fourth floor)
  • Deck: 34×14 (fourth floor)

It’s South Loop Week on Crib Chatter

The South Loop was the hottest neighborhood in Chicago, with one magazine even calling it the hottest neighborhood in the entire country, during Bubble 1.0.

But the bust hit the area extra hard, with valuations plunging. Many of the new construction condo towers were turned into apartments in order to get the units off the market.

However, a new day is dawning in the South Loop.

With most of the excess condo inventory absorbed, new construction towers are being announced again. And the area is slated to get two big new developments along the Chicago River which could result in a couple of thousand more units, in the form of apartments, townhouses and condos.

It means more people living in the neighborhood, more restaurants and stores as well as entertainment options.

That’s why I was surprised to see, that when I googled an address in the Burnham II development which stretches from Roosevelt Road south to 16th street just east of Clark, Google didn’t have a street view for any address in there.

It looks like the Google mapping van simply drove around the outside of the development, without ever driving in the one way you can get into it.

Strange.

I thought Google had street view on just about every street in the major cities (and then some) now.

Even Google has dissed the South Loop!

Is the South Loop about to make a big comeback?

Will it again be one of the hottest neighborhoods in the city?

Looking for New Record High Price in East Lakeview: A 5-Bedroom at 443 W. Aldine

443 w aldine approved

This 5-bedroom top floor vintage unit at 443 W. Aldine in East Lakeview recently came on the market.

If it looks familiar, that’s because it was actually on the market for most of 2014 without selling.

It is a full floor unit in a 4-unit elevator building that was renovated into luxury condos in 2010-2011.

The kitchen has wood cabinets with commercial grade stainless steel appliances, granite counter tops and a kitchen island.

The baths are Carrera marble.

There’s a wood burning fireplace and crown molding along with modern features like central air and in-unit washer/dryer.

At 3600 square feet, it’s as big as some single family homes.

Being on the top floor it also has roof rights but nothing is built up there yet. The listing simply shows some renderings.

It has a 1-car garage plus one outdoor parking space.

Unit #2 in this building “sold before print” in June 2015 for $1.335 million.

This unit tried to get as much as $1.795 million in April 2014 but has come back on the market at $1.549 million.

We last chattered about this building in 2011 when it was just converted and many of you thought the prices being paid back then (around $1.4 million) were insane. See our chatter here.

That was 4 years ago. Prices have since moved even higher.

Will they get this even higher list price?

Steven Acoba at Keller Williams has the listing. See the pictures here.

Unit #4: 5 bedrooms, 3 baths, 3600 square feet, top floor

  • Sold in February 2011 for $1.45 million (although I can’t find it in the public records- but this is what was on Cribchatter in 2011)
  • Originally listed in April 2014 for $1.795 million
  • Reduced
  • Withdrawn in February 2015 for $1.495 million
  • Re-listed in December 2015 for $1.549 million
  • Assessments of $462 a month (includes parking, exterior maintenance, scavenger, snow removal)
  • Taxes of $18091
  • Central Air
  • Washer/Dryer in the unit
  • 1-car garage parking and 1 outdoor parking space
  • Wood burning fireplace
  • Bedroom #1: 14×19
  • Bedroom #2: 14×14
  • Bedroom #3: 14×13
  • Bedroom #4: 14×13
  • Bedroom #5: 15×19
  • Gallery: 4×45

 

 

20 Foot Windows With Views of the Lake and the Hancock: 161 E. Chicago in Streeterville

161 e chicago

This 2-bedroom in Olympia Center at 161 E. Chicago in Streeterville came on the market in April 2015.

Built in 1985, Olympia Center is a full service building that overlooks the Mag Mile with an indoor pool and city views. It has leased parking.

This unit is unique in that it has a wall of 20 foot windows along with contemporary, modern finishes.

It has an Arclinea kitchen with a wine fridge and stainless steel appliances.

There’s a home theater.

If you’re a clothes horse, the master bedroom has a 700 square foot dressing room.

There’s also a library.

It has central air and washer/dryer in the unit.

After 8 months on the market, it is still the same price as in April.

Why isn’t this selling in this hot market?

Daly Donnellan at Flats, LLC has the listing. See the pictures here.

Unit #58J4: 2 bedrooms, 3.5 baths, 4400 square feet

  • Sold in May 1997 for $925,000
  • Sold in March 2005 for $1.4 million
  • Originally listed in April 2015 for $3.699 million
  • Currently still listed for $3.699 million
  • Assessments of $3888 a month (includes water, doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal)
  • Parking is leased in the building
  • Taxes of $21630
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 20×13 (main level)
  • Bedroom #2: 19×16 (main level)
  • Family room: 16×11 (main level)
  • Theater: 16×12 (main level)

 

“Architect Designer Rehab” Still Available 5 Months Later: 2343 N. Greenview in Lincoln Park

2343 n greenview approved

This 2-bedroom duplex at 2343 N. Greenview in Lincoln Park came on the market in July 2015.

The listing says it is an “architect designer rehab”.

We last chattered about it in October and wondered why it wasn’t selling this fall as it was a remodeled property and those are in demand. See our chatter here.

If you recall, the unit has 20 foot ceilings in the living/dining/kitchen with dark espresso wood floors and south city views.

The listing says the kitchen has been “newly remodeled.” It has white cabinets, stainless steel appliances and granite counter tops.

There is just one bath but it is “newly remodeled” with 2 sinks.

Both bedrooms and a den are on the second floor.

This unit has central air and gated, secured parking is included. But it doesn’t appear to have in-unit laundry.

The property hasn’t been reduced since we last chattered about it in October. It has been listed at $335,000 the last 2 months.

With inventory at its lowest in years and demand still strong, especially near the DePaul neighborhood, why isn’t this finally selling?

Frank Mitrick at Real Tek Realty still has the listing. See the pictures here.

Unit #212: 2 bedroom, 1 bath, 1400 square feet, duplex up

  • Sold in April 1993 for $170,000
  • Sold in June 1996 for $177,500
  • Originally listed in July 2015 for $359,000
  • Reduced
  • Was listed in October 2015 at $335,000
  • Currently still listed at $335,000
  • Assessments of $255 a month (includes water, security system, exterior maintenance, scavenger, and snow removal)
  • Taxes of $4396
  • Central Air
  • No washer/dryer in the unit
  • Gated parking included
  • Bedroom #1: 18×18 (second floor)
  • Bedroom #2: 10×10 (second floor)
  • Den: 10×8 (second floor)

Market Conditions: New Record High Price for 340 On the Park in Lakeshore East

340 e randolph

A 3-bedroom penthouse in 340 On the Park at 340 E. Randolph in Lakeshore East just closed for $5.2 million.

On the 62nd floor, it has 12 foot floor-to-ceiling windows with views of the Lake, Millennium Park, and the rest of the city.

The views are pretty spectacular.

The unit has 3 terraces and 2 parking spaces were included.

Not only was this sale a new record for this building, it was the first sale above $5 million in the building.

It has established a new price point for the building and Lakeshore East.

Are we entering a new era in luxury living downtown?

Naomi Wilkinson at Magellan Realty had the listing. You can still see the pictures here.

Unit #62W: 3 bedrooms, 3.5 baths, 4919 square feet, penthouse

  • Sold in March 2008 for $3.4 million
  • Listed in May 2014
  • Sold in November 2015 for $5.2 million
  • Assessments of $2447 a month (includes water, gas, parking, cable, internet, doorman, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $47801
  • Listing says there was a special service area fee: $4641
  • Terrace #1: 30×9
  • Terrace #2: 36×6
  • Bedroom #1: 25×17
  • Bedroom #2: 14×14
  • Bedroom #3: 20×13

7 Months on the Market for This Streeterville Pre-War 3-Bedroom: 223 E. Delaware

223 e delaware approved

This 3-bedroom in 223 E. Delaware in Streeterville came on the market in May 2015.

The building was constructed in 1919 and has just 10 units.

This building is rare in this neighborhood because it actually has parking in the building. It’s outdoor parking, apparently, but it’s parking.

This unit has many of its vintage features including crown molding and wainscoting but it has been updated to modern tastes.

The kitchen has white and black cabinets with luxury appliances including Subzero. There is a built-in Miele espresso machine and a Butler pantry with a wine fridge.

All three bathrooms are en suite and the master bath has heated tile floors and a separate rain shower.

There are custom built-ins throughout.

The building has no doorman, but the listing says there’s a live in, on call engineer.

The listing also says no pets are allowed.

In addition to parking, this unit has space pak cooling and laundry in the unit.

Originally listed for $1.85 million, it has been reduced $55,000 to $1.795 million.

This unit seems to have it all. Why isn’t this selling?

Marla Nyberg at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #5E: 3 bedrooms, 3.5 baths, 3400 square feet, co-op

  • Sold in October 2010 for $900,000 (per Redfin. Since it’s a co-op it’s difficult to access individual unit records)
  • Originally listed in May 2015 for $1.85 million
  • Reduced
  • Currently listed at $1.795 million
  • Assessments of $3243 a month (includes heat, water, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal and taxes- as it’s a co-op)
  • Taxes of $13,000
  • Space pak cooling
  • Washer/Dryer in the unit
  • Parking included (appears to be outdoor according to the notes made by the Redfin agent)
  • Bedroom #1: 21×16
  • Bedroom #2: 19×12
  • Bedroom #3: 17×14
  • Family room: 17×14
  • Library: 14×12
  • Laundry room: 14×7