Back To The 2002 Price For This Bank Owned 2-Bedroom Loft: 300 W. Grand in River North

This 2-bedroom loft at 300 W. Grand in River North has been on the market since July 2012.

It is bank owned.

It has exposed brick but white ceilings along with hardwood floors in the main living areas.

The bedrooms have carpeting.

It appears that only one of the bedrooms has windows in it with the second bedroom behind the kitchen.

From the listing pictures, it looks like this loft faces south, which is the preferred view, since the north facing lofts now look directly into The Silver at 303 W. Ohio.

The kitchen has white cabinets and appliances. The building was converted into lofts in 1998. This looks to be the original kitchen.

It also has two white bathrooms.

The loft has central air and there is a washer/dryer hook-up in the unit.

The listing doesn’t mention parking. Some units in this building had parking, some did not.

The loft has been reduced $19,000 since July and is now listed at the 2002 price.

Why isn’t this selling?

Rosario Terracciano at Resurrecting Real Estate has the listing. See the pictures here.

Unit #208: 2 bedrooms, 2 baths, 1200 square feet

  • Sold in August 1998 for $184,000
  • Sold in April 2002 for $299,000
  • Sold in January 2006 for $345,000
  • Lis pendens foreclosure filed in January 2010
  • No record of the bank actually owning it but it is a Freddie Mac First Look Initiative property
  • Originally listed in July 2012 for $318,900
  • Reduced
  • Currently listed at $299,900
  • Assessments of $293 a month
  • Taxes of $3486
  • Central Air
  • Washer/Dryer hook-ups in the loft
  • Parking??? (it doesn’t list any)
  • Bedroom #1: 11×17
  • Bedroom #2: 14×11

2-Bedroom Lincoln Park Duplex With Rare 600 Sq. Ft. Terrace Reduces $25K: 2100 N. Lincoln Park West

We last chattered about this 2-bedroom with a private terrace in The Pierre at 2100 N. Lincoln Park West in Lincoln Park in June 2012.

See our prior chatter here.

Back then, no one really had an opinion on the price but several of you commented that the terrace didn’t seem that private (with the other units being able to look down onto it.)

If you remember, it has a spiral staircase to the second floor bedrooms.

The kitchen has maple cabinets, granite counter tops and black appliances.

The unit has central air and in-unit washer/dryer. There is rental parking in the building.

The listing says it has new windows.

The Pierre was built in 1919 and is a full service building with a rooftop pool and 24-hour doorman.

This unit has been on and off the market since August 2007, will this unit finally sell in 2012?

Scott Berg at Berg Properties has the listing. It is realtor owned. See the pictures here.

Unit #3BN: 2 bedrooms, 2.5 baths, duplex, no square footage listed

  • Sold in March 1988 for $163,000
  • Sold in March 1999 for $230,000
  • Originally lisetd in August 2007 (I couldn’t find a price)
  • On and off the market
  • Was listed in November 2011 for $525,000
  • Reduced
  • Was listed in June 2012 at $495,000
  • Reduced
  • Currently listed at $475,000
  • Assessments of $954 a month (includes cable, doorman, gas, rooftop pool)
  • Taxes of $4129
  • Central Air
  • Washer/Dryer in the unit
  • Rental parking in the building
  • Bedroom #1: 22×19 (second floor)
  • Bedroom #2: 19×15 (second floor)
  • 600 square foot terrace

Is This Where The Deals Are? A Grand Victorian At 11216 S. Oakley In Morgan Park

We last chattered about this 4-bedroom Victorian at 11216 S. Oakley in Morgan Park a year ago, in September 2011.

See our prior chatter here.

Most of you liked this neighborhood but were concerned about the maintenance on an older home on a large lot.

Since our last chatter, the house has been reduced $50,000.

If you remember, this house is among the older homes in the city.

Built in 1878, it has a massive 100×213 lot (almost half an acre) that includes a gazebo and above ground pool.

The house also has a front porch and a screened side porch.

The kitchen is updated with cherry cabinets, granite and stainless steel appliances.

The full bath has white Italian marble and a rain shower bath.

The listing says that there is updated electric and plumbing.

The house also has an unfinished basement, central air and a 1-car garage.

The home is located just a few blocks from Morgan Park Academy, which is a K-12 private school routinely cited as one of the best private schools in the state.

The house also has a good commuter location, as it is also just a few short blocks to the Morgan Park metra stop for a quick trip downtown.

This is the first time it’s been on the market in 25 years.

Now that it’s priced less than $400,000, is this a deal?

Sandra Bianciotto at Prudential Biros has the listing. See more pictures here.

11216 S. Oakley: 4 bedrooms, 1.5 baths, 2500 square feet, 1 car garage

  • Sold in September 1987 (no price given)
  • Originally listed in July 2011 for $449,900
  • Reduced
  • Currently listed at $399,900
  • Taxes are now $5944 (they were $5422 in September 2011)
  • Central Air
  • Above ground pool
  • Bedroom #1: 20×14 (second floor)
  • Bedroom #2: 18×14 (second floor)
  • Bedroom #3: 15×13 (second floor)
  • Bedroom #4: 15×9 (second floor)

Trying To Sell Just 2 Years Later In Lakeview: A 2-Bedroom At 653 W. Buckingham

This 2-bedroom at 653 W. Buckingham in Lakeview came on the market in July 2012.

But it had last sold just over two years ago in April 2010.

It has a lot of its vintage features including dark wood window frames, a wood fireplace mantel, beamed ceilings and a built-in hutch in the dining room.

The kitchen has been updated with cherry cabinets, stainless steel appliances and granite counter tops.

It also has a marble bath.

The unit not only has 2-bedrooms but also a 12×11 den.

It has in-unit washer/dryer and a parking space but no central air (window units only.)

If you like outdoor spaces, it has both front and back balconies.

Since July it has been reduced $10,000 and is now listed $1,000 under the 2010 price.

Is this going back to the 2002 price?

Colleen Bansley at Conlon has the listing. See the pictures here.

Unit #1: 2 bedrooms, 1 bath, 1500 square feet, den

  • Sold in January 1989 for $130,500
  • Sold in March 1992 for $152,500
  • Sold in May 1995 for $158,000
  • Sold in February 2002 for $290,000
  • Sold in April 2010 for $330,000
  • Originally listed in July 2012 for $339,000
  • Reduced
  • Currently listed for $329,000
  • Assessments of $255 a month
  • Taxes of $4947
  • No central air
  • In-unit washer/dryer
  • Parking space included
  • Bedroom #1: 13×10
  • Bedroom #2: 12×9
  • Dining room: 15×12
  • Den: 12×11

3-Bedroom River North Penthouse Reduces Another $50K: 200 N. Grand

We last chattered about this 3-bedroom penthouse in 200 W. Grand in River North in July 2012.

See our prior chatter here.

The pictures in the listing in July did not seem to be professionally taken which many of you discussed.

But I’m pleased to report that there appear to be new pictures on the listing (taken by VHT.)

Whew!

The unit is owned by a relocation company (we haven’t seen much of that in the past 5 years.)

It has 11 foot ceilings and 3 balconies.

The unit has north, east and west views.

There are cherry floors throughout and the kitchen has upgraded appliances like SubZero and Meile along with granite counter tops.

The current listing, however, does have another change to it compared to our last chatter.

It will now give a $17,616 “buyer incentive” to cover 1 year of assessments.

Do offers to cover a year (or two) of assessments sway you? 

Pamela Sullivan at Coldwell Banker still has the listing. See the current listing pictures here.

Unit #2602: 3 bedrooms, 2 baths, 2200 square feet

  • Sold in June 2007 for $1.265 million
  • Originally listed in May 2012 for $1.035 million
  • Reduced
  • Now relo owned
  • Was listed in July 2012 at $875,000 (includes 2 parking spaces)
  • Reduced
  • Currently listed at $825,000 (2 parking spaces included)
  • Assessments of $1468 a month (includes doorman, cable)
  • Taxes of $6992
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 19×12
  • Bedroom #2: 13×13
  • Bedroom #3: 12×8

East Lakeview Amenities On A “Secret” Street: A 2-Bedroom At 2900 N. Burling

Burling is an interesting street north of Diversey as it has many vintage buildings yet few people venture down it. It lasts just one block.

But this top floor 2-bedroom at 2900 N. Burling is within just a few blocks of Trader Joes, the movie theater and all the shops and restaurants of East Lakeview and East Lincoln Park.

The El is just a few blocks away.

This unit has many of its vintage features including built-ins and a fireplace. It also has a big front balcony that overlooks the tree lined street.

The listing says it has an “updated” kitchen with maple cabinets, quartz counter tops and stainless steel appliances.

It has everything that buyers look for including central air, in-unit washer/dryer and garage parking.

The unit is listed just $15,000 more than the 2003 price.

Is this priced to sell?

Sarah Coulter at @Properties has the listing. See the pictures here.

Unit #3N: 2 bedrooms, 1 bath, 1500 square feet, 1 car garage parking

  • Sold in July 1995 for $211,500
  • Sold in July 1999 for $266,500
  • Sold in October 2003 for $350,000
  • Currently listed at $365,000
  • Assessments of $275 a month
  • Taxes of $5745
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×12
  • Bedroom #2: 12×11
  • Dining room: 16×12

 

Market Conditions: August Sales Surge 23.6% YOY As The Rebound Continues

As most of the preliminary data has already shown, August sales in Chicago jumped another 23.6% year over year. The median price was also ticked higher.

From the Illinois Association of Realtors:

The city of Chicago saw a 23.6 percent year-over-year increase in home sales in August 2012 with 2,209 sales, up from 1,787 in August 2011. The condo market in the city of Chicago continued to show robust sales increases, with a 35.9 percent increase from the 1,027 sales in Augsut 2011 to the 1,396 in August 2012. The city of Chicago median home sale price for August 2012 was $200,000, up 3.9 percent compared to August 2011 when it was $192,500.

The city of Chicago has seen 14,280 homes sold through August 2012, versus 11,992 sold through the same period in 2011.

Here is the data for the last 5 years:

  • August 2007: 2923 sales
  • August 2008: 2078 sales
  • August 2009: 1927 sales
  • August 2010: 1486 sales
  • August 2011: 1787 sales
  • August 2012: 2209 sales

Median home prices over the last 5 years:

  • August 2007: $305,000
  • August 2008: $297,500
  • August 2009: $229,900
  • August 2010: $200,000
  • August 2011: $192,500
  • August 2012: $200,000

Chicago condo sales for August:

  • 2007: 2,246 sales
  • 2008: 1489 sales
  • 2009: 1,239 sales
  • 2010: 876 sales
  • 2011: 1052 sales
  • 2012: 1396 sales

“Continued signs of a turn-around are a reality in Chicago, as homes are selling and prices are stabilizing,” said REALTOR® Zeke Morris, president of the Chicago Association of REALTORS® and Operating Principal and Managing Broker, Keller Williams Realty, CCG. “We will, however, continue to monitor the city’s condo market, as pricing seems to lag by comparison to the single-family homes. The health of the condo market relies on many factors, among them, the viability of individual condo associations, which often can make or break a deal, with negative repercussions for buyers seeking financing.”

The foreclosure pipeline appears to be clearing- even if it’s slowly.

Dr. Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois, said among trends emerging in August was how foreclosed properties are beginning to work through the court system. He said the data suggest foreclosure resolutions delayed until February as federal and state governments and banks worked out a settlement over mortgage lending irregularities are now “clearing the market more rapidly than new additions.”

“The August data show that it will take less than three years to clear the active inventory, a further indication that the backlogs are declining since in April it would have taken 3.28 years to clear the market,” Hewings said.

Is the “lag” in the condo market just another indicator that condos will be out of favor for buyers in the near future?

Will these year over year sales gains continue this fall – as inventory remains tight?

August home sales in Illinois up 23.7 percent from a year ago; Statewide median price at $147,000 [Illinois Association of Realtors, Press Release, September 19, 2012]

Edgewater Glen Prairie Style 4-Bedroom Sells For $32,900 OVER The 2007 Price: 1310 W. Glenlake

We last chattered about this 4-bedroom Prairie style house with the front porch swing at 1310 W. Glenlake in Edgewater Glen in July 2012.

See our prior chatter here.

Back then, the house was listed at $729,000 and the Chatterati was nearly unanimous that it was overpriced.

Way overpriced.

Most said that anything over $700,000 would be dreaming. Heck, $650,000 would be a great price. Some said $600,000 would get it done.

The house just sold in 3 months for $697,900.

That’s $32,900 over the 2007 price.

If you remember, the house was built in 1916 on a 31×124.6 lot.

It had the features buyers look for including 3 bedrooms on one level, central air and a garage (only a 1 car garage however.)

The listing said there are new Marvin windows.

The kitchen had cherry cabinets, granite and stainless steel appliances.

This house was just a a block and a half from the Granville red line stop.

Is the Edgewater Glen market hotter than many of you had originally thought?

Or is lack of inventory keeping prices elevated in the neighborhood?

Alley Ballard at @Properties had the listing.

1310 W. Glenlake: 4 bedrooms, 2 baths, 3200 square feet, 1 car garage

  • Sold in January 1995 for $235,000
  • Sold in August 2007 for $665,000
  • Was listed in July 2012 at $729,000
  • Sold on September 13, 2012 for $697,900
  • Taxes of $8301
  • Central Air
  • Bedroom #1: 21×12 (second floor)
  • Bedroom #2: 13×10 (second floor)
  • Bedroom #3: 13×10 (second floor)
  • Bedroom #4: 15×14 (third floor)
  • Family room: 14×12 (lower level)

There’s Something Special About The Brewster: A 2-Bedroom At 2800 N. Pine Grove In Lakeview

This 2-bedroom in the historic Brewster at 2800 N. Pine Grove in East Lakeview recently came on the market.

It is a short sale.

Owners in this building are extremely loyal, with many living in the building for years (sometimes decades).

The Brewster was built in 1896 as a luxury apartment building and it has internll iron staircases, cat walks and a huge skylight.

Not only did Charlie Chaplin live in one of the penthouses in 1915-1916, but several movies were filmed in the building including the Untouchables and Child’s Play.

This unit is one of the ones in the turret.

It has an updated bath and a kitchen with 42 inch cabinets, granite counter tops and white appliances.

There are parquet floors in the living room, exposed brick and a decorative fireplace.

The two bedrooms have carpet.

There is no parking, no central air (wall units only) and no in-unit washer/dryers.

But that hasn’t stopped sales in the building. This 2-bedroom is the only unit currently available. The building is also in a prime East Lakeview location.

This unit is listed $85,000 under the 2007 price.

Is this a deal?

Laura Meier at @Properties has the listing. See the pictures here.

Unit #2K: 2 bedrooms, 1 bath, no square footage listed

  • Sold in February 1989 for $54,000
  • Sold in June 1994 for $75,000
  • Sold in April 1997 for $91,000
  • Sold in July 2007 for $265,000
  • Currently listed as a “short sale” for $180,000
  • Assessments of $366 a month
  • Taxes of $3309
  • No central air- wall units only
  • No in-unit washer/dryer
  • No parking (rental in the neighborhood)
  • Bedroom #1: 12×11
  • Bedroom #2: 12×11

Be The “First To Live In” This Old Irving Park 5-Bedroom SFH: 3912 N. Lowell

This 5-bedroom house at 3912 N. Lowell in Old Irving Park came on the market in March 2012.

But before that it was on the market from 2008 until it sold in February 2012.

I’m confused by this listing. I took a picture of this house all the way back in November 2010.

One old listing I ran across indicated the house was built in 1901 but the listing calls it a “well built new home”. The current listing says “be the first to live in this airy, bright, hip and graceful, well-built spacious, new and historical home….”

Is this a rehab of a vintage house?

The kitchen has white cabinets, stainless steel appliances and stone counter tops.

Three of the 5 bedrooms are on the second floor with the fourth on the third and the fifth in the basement. There is also a large 27×20 recreation room in the basement.

It is built on an oversized 50×144 lot and has a 3 car garage.

This house has been reduced $100,000 to $1.049 million since it came on the market in March 2012.

Can Old Irving Park still command million dollar prices?

Cynthia Brick at R.E. Broker Associate has the listing. See the pictures here.

3912 N. Lowell: 5 bedrooms, 4.5 baths, 4600 square feet, 3 car garage

  • Sold in April 1992 for $200,000
  • Originally listed in November 2008 for $1.299 million
  • Reduced to $1.25 million by August 2010
  • Sold in February 2012 for $800,000
  • Re-listed in March 2012 for $1.149 million
  • Reduced
  • Currently listed at $1.049 million
  • Taxes of $3781
  • Central Air
  • Bedroom #1: 16×16 (second floor)
  • Bedroom #2: 13×18 (second floor)
  • Bedroom #3: 11×17 (second floor)
  • Bedroom #4: 16×15 (third floor)
  • Bedroom #5: 10×9 (lower level)