Forget The Cramped Lakeview Townhouse, Buy This 3-Bedroom Instead: 1050 W. Diversey

We’ve chattered about many duplex downs over the years like this 3-bedroom at 1050 W. Diversey in Lakeview which just came on the market.

This one has many features of a townhouse, however, including a lower level family room with 9 foot ceilings.

Two bedrooms and two baths are on the main level with the third on the lower level.

There is also a full sized laundry room.

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

It has a garage, two outdoor spaces and central air.

The unit also has a desireable location just a block from the Diversey Brown Line stop.

It’s listed $24,500 under the 2005 purchase price.

Is this a good townhouse replacement?

Todd Szwajkowski at Dream Town Realty has the listing. See the pictures here.

Unit #1: 3 bedrooms, 3 baths, 2163 square feet, 1 car garage

  • Sold in December 2000 for $409,000
  • Sold in June 2005 for $524,500
  • Currently listed for $500,000
  • Assessments of $135 a month
  • Taxes of $7297
  • Central Air
  • Laundry room
  • Bedroom #1: 15×11 (main floor)
  • Bedroom #2: 15×11 (main floor)
  • Bedroom #3: 14×11 (lower level)
  • Family room: 27×14 (lower level)

Live the Good Life in this 3-Bedroom East Lincoln Park Rowhouse: 474 W. Deming

This 3-bedroom vintage rowhouse at 474 W. Deming in East Lincoln Park just came on the market.

It is just a block from Lincoln Park and also just steps away from the shops and restaurants on Clark.

It seems to have everything buyers are looking for.

Built in 1884 on a 20×74 lot, it still has some of its vintage features such as stained glass, the original wood staircase and crown molding.

Yet it also has central air, a lower level family room and 2-deeded parking spaces directly behind the rowhouse.

All 3 bedrooms are on the second floor along with 2 baths.

Is this a deal at under $1 million for the location?

Mario Greco at Prudential Rubloff has the listing. See the pictures here.

474 W. Deming: 3 bedrooms, 3.5 baths, no square footage listed, 2 deeded parking spaces behind the rowhouse

  • Sold in January 1993 for $266,000
  • Sold in April 1995 for $307,500
  • Sold in February 2001 for $640,000
  • Currently listed at $949,000
  • Taxes of $14,852
  • Central Air
  • Bedroom #1: 18×17 (second floor)
  • Bedroom #2: 19×13 (second floor)
  • Bedroom #3: 12×11 (second floor)
  • Family room: 30×19 (lower level)

Market Conditions: Chicago Sales Jump 22% in June YOY But Is It Really That Hot?

It’s that time of the month again to evaluate just how “hot” the Chicago housing market is.

From the Illinois Association of Realtors:

In the city of Chicago, June 2012 home sales (single family and condominiums) totaled 2,246, up 22.0 percent from 1,841 homes sold in June 2011. The city of Chicago median home sale price for June 2012 was $216,700, up 4.7 percent compared to June 2011 when it was $207,000.

We’re coming off of very low levels in 2011 so any gain would be “good.” But if you look at prior year sales data, the number doesn’t seem all that impressive.

Here is the prior sales data (thanks to G for the older historical data):

  • June 2012: 2246 – up 22%
  • June 2011: 1841- down 27.1% yoy
  • June 2010: 2526 sales (tax credit sales)
  • June 2009: 1981 sales
  • June 2008: 2282 sales
  • June 2007: 3,127 sales
  • June 2006: 3,557 sales
  • June 2005: 3,850 sales
  • June 2004: 3,752 sales
  • June 2003: 2,891 sales
  • June 2002: 2,590 sales
  • June 2001: 2,451 sales
  • June 2000: 2,513 sales
  • June 1999:  2,435 sales
  • June 1998:  2,214 sales
  • June 1997: 1,817 sales

Here is the monthly median price data:

  • June 2012: $216,700- up 4.7%
  • June 2011: $207,000- down 11.6% yoy
  • June 2010: $234,250
  • June 2009: $242,050
  • June 2008: $309,945

“Compelling interest rates and motivated sellers are helping move the market,” said REALTOR® Zeke Morris, president of the Chicago Association of REALTORS® and Operating Principal and Managing Broker, Keller Williams Realty, CCG. “With both affordable and high-end properties attracting offers across the spectrum, we are seeing more buyers come off the fence and make decisions today about their investment in homeownership. We will continue to monitor closely the impact of distressed properties as well as continue to service our clients in the return of multiple offers in home buying.”

“This high level of housing market activity was last seen in the first half of 2010 promoted in large part by the homebuyer’s tax credit,” noted Dr. Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. “The current market seems to be operating more normally with perhaps some effects of the significant number of foreclosed properties that are for sale.”

June sales were still below the juiced 2010 tax credit sales.

With all the talk about how “hot” the market is, is that the reality or is it simply influenced by low inventory in the GZ?

June home sales in Illinois up 18.0 percent from a year ago; Median prices also post year-over-year increases [Illinois Association of Realtors, Press Release, July 19, 2012]

Selling A 2-Bedroom Two Years Later in Southport: 1304 W. Cornelia

We last chattered about this 2-bedroom at 1304 W. Cornelia in the Southport neighborhood of Lakeview in September 2011.

See our prior chatter here.

At that time, it was on the market just 14 months after the prior sale and was trying to get a $25,000 premium over the $350,000 purchase price.

Many of you thought it would sell for around 10% under its 2010 price while some of you thought it would sell for under $300,000 as it was a 2/1.5 and too much like a rental apartment.

The unit was de-listed in November and has now returned with a reduced price of $339,000.

If you recall, the second floor unit has the amenities buyers are looking for including central air, washer/dryer in the unit and garage parking.

The vintage unit has hardwood floors throughout and a built-in hutch in the dining room.

The kitchen has granite counter tops, stainless steel appliances and 42 inch cabinets.

The property is in a prime Southport location. It is within close walking distance to the shops and restaurants on Southport as well as the Southport Brown Line stop.

It couldn’t get the premium in 2011 but with inventory low and the market picking up, will it manage to sell over $300k?

Ben Osbun at Chicago Home Estates still has the listing. See the pictures here.

Unit #2: 2 bedrooms, 1.5 baths, 1200 square feet

  • Sold in September 2006 for $360,000
  • Sold in July 2010 for $350,000
  • Originally listed on September 5, 2011 for $374,250
  • Price was changed on September 13, 2011 to $349,250 (now with $25,000 for the parking which is still $374,250)
  • Delisted in November 2011
  • Currently listed at $339,000 (parking included)
  • Assessments of $150 a month
  • Taxes of $5098
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×10
  • Bedroom #2: 10×9

I’m A Sucker For Porch Swings: A 4-Bedroom SFH at 1310 W. Glenlake in Edgewater Glen

This 4-bedroom Prairie style single family home at 1310 W. Glenlake in the Edgewater Glen neighborhood of Edgewater just came on the market.

Built in 1916 on a 31×124.6 lot, it has a large front porch with a porch swing.

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

The listing says there are new Marvin windows.

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

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

Are the $700,000s the reality for a move-in ready house in this neighborhood?

Alley Ballard at @Properties has the listing. See more pictures here.

OR you can see the house at the Open House this Sunday, July 22 from 1 PM to 3 PM.

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
  • Currently listed at $729,000
  • 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)

The Chatterati Was Wrong Again As A “Little Piece of Paris” Sells For $790,000: 840 N. Lake Shore Drive

We chattered about this 1-bedroom which was then marketed as a 2-bedroom at 840 N. Lake Shore Drive in the Gold Coast several times.

See our May 2012 chatter here.

Originally listed just above $1 million, the 1800 square foot 1-bedroom was marketed as a “little piece of Paris.”

It was then withdrawn from the market and re-listed as a 2-bedroom (with the dining room, presumably, the area that would be converted into a bedroom.)

The listing also said piping was in place to convert the half bath into a full bath.

Most of you mocked the listing and said you’d rather buy in Trump if you were spending that much on a 1-bedroom.

But lo and behold, the unit recently sold for $790,000.

I can’t tell from the listing if parking was included. It looks like it might be (originally it was $80,000 extra.)

A couple of these luxury 1-bedrooms have sold for over $500,000 in the last few months.

Is the upper bracket recovering faster than the rest of the market?

Kathleen Malone at @Properties had the listing. You can still see the pictures here.

Unit #202: 2 bedrooms, 1.5 baths, 1800 square feet

  • I couldn’t find a prior sales price- could still be developer owned
  • Was listed in May 2011 for $995,000 (plus $80,000 for 2-car tandem parking)
  • Reduced
  • Was listed as a 2-bedroom in May 2012 for  $899,900 (2-car tandem parking extra)
  • Sold in July 2012 for $790,000 (I can’t tell if parking was included- but it looks like it might have been.)
  • Assessments of $1501 a month (includes heat, air conditioning, doorman, parking)
  • Taxes of $9244
  • Central Air
  • In-unit washer/dryer
  • Bedroom: 13×12
  • Living room: 22×19
  • Kitchen: 14×13
  • Old listing- Dining room: 14×13
  • Current listing- Bedroom: 13×14

 

Live On The Lake In This 5000 Sq. Ft. Townhouse With A 4 Car Garage: 5747 N. Sheridan in Edgewater

This 3-bedroom townhouse at 5747 N. Sheridan in Edgewater recently came on the market.

This townhouse complex is well known because it is one of the few that has direct lake and beach views.

From the layout, this 5000 square foot townhouse looks to be a combination of several units.

There is a private elevator which accesses all floors and rare 4 car garage parking.

The townhouse has a full floor master suite on the third floor which measures 18×52.

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

It also has several outdoor spaces including a rooftop deck which overlooks the beach.

Who’s going to be a buyer for this unique property?

Timothy Salm at Jameson Sotheby’s has the listing. See the pictures here.

Unit #GH: 3 bedrooms, 5.5 baths, 5000 square feet, 4 car garage parking

  • Sold in April 2001 for $865,000
  • Currently listed at $1.495 million
  • Assessments of $1569 a month
  • Taxes of $17,931
  • Central Air
  • Bedroom #1: 18×52 (third floor)
  • Bedroom #2: 15×13 (second floor)
  • Bedroom #3: 11×11 (second floor)
  • Family room: 25×17 (main level)

 

See The Cell’s Scoreboard From Your Garage Top Deck: 546 W. 33rd in Bridgeport

 

This 3-bedroom brick ranch at 546 W. 33rd in Bridgeport came on the market in May 2012.

It was built in 1972 on a standard 25×125 lot.

The listing says it was “renovated” 5 years ago.

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

It has a full basement with an oak wet bar, fireplace and jacuzzi tub.

All three bedrooms are on the main floor.

It also has a 2-car garage with a deck on top which the listing says has a view of the Comiskey Park (i.e. The Cell’s) scoreboard.

The house also has central air.

Now priced at $409,900 after a $10,000 reduction, is this a starter home in this neighborhood?

Suzanne Hamilton at RE Marketing Consultants has the listing. See the pictures here.

546 W. 33rd: 3 bedrooms, 2 baths, 1150 square feet, 2 car garage

  • Sold in June 2004 for $330,000
  • Sold in June 2007 for $340,000
  • Originally listed at $419,900
  • Reduced
  • Currently listed at $409,900
  • Taxes of $1344
  • Central Air
  • Bedroom #1: 10×13 (main level)
  • Bedroom #2: 10×10 (main level)
  • Bedroom #3: 10×10 (main level)
  • Family room: 20×20 (lower level)

 

Want To Be A Landlord? Check Out This 2/2 At 2700 N. Hampden in Lincoln Park

This 2-bedroom at 2700 N. Hampden in Lincoln Park has been on the market since June 2012.

It is a short sale.

It is a north east corner unit with hardwood floors.

It doesn’t have central air (wall units only) or in-unit laundry but there is rental parking available in the building OR a spot can be purchased.

This is a full service building which is popular with renters as it has a doorman and a rooftop pool.

The unit has been reduced $10,000 to just $225,000.

Does this make sense to buy as an investment?

Chris Vasilakopoulos at Dream Town Realty has the listing. See the pictures here.

Unit #12B: 2 bedrooms, 2 baths, 1000 square feet

  • Sold in March 1994 for $120,000
  • Lis pendens foreclosure filed in May 2012
  • Originally listed in June 2012 for $235,000
  • Reduced
  • Currently listed as a “short sale” for $225,000
  • Assessments of $511 a month (includes doorman, cable, pool)
  • Taxes of $3634
  • No central air- wall units only
  • No in-unit washer/dryer
  • Parking available as rental or to buy in the building
  • Bedroom #1: 15×14
  • Bedroom #2: 14×11

Get A 2-Bedroom Townhouse in Southport For Under $335,000: 1157 W. Newport in Lakeview

Far west Lakeview and Lincoln Park aren’t the only locations where you can get a 2-bedroom townhouse for under $335,000.

This 2-bedroom townhouse at 1157 W. Newport in Southport has been on the market since April 2011.

According to the Redfin agent comments, it used to be a 3 bedroom but the two second floor bedrooms were opened up into one large master bedroom.

That means the bedrooms are now split, with the master on the second floor and the second bedroom on the lower level.

The listing says it is an end unit and has a rooftop deck.

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

The townhouse has a 1-car garage but it’s apparently not attached as some of the others in the complex are.

Yes, the Brown Line El tracks run directly behind this complex.

In the last 15 months, the townhouse has been reduced $64,100.

It is now listed under the 2002 purchase price.

Is this finally a deal?

Robyn Brooks at Prudential Rubloff has the listing. See the pictures here.

Unit #L: 2 bedrooms, 2 baths, no square footage listed, 1 car garage

  • Sold in February 1997 for $228,500
  • Sold in April 2000 for $295,000
  • Sold in May 2002 for $367,500
  • Sold in April 2005 for $370,000
  • Originally listed in April 2011 for $399,000
  • Reduced several times
  • Currently listed at $334,900
  • Assessments of $171 a month
  • Taxes of $4825
  • Central Air
  • Bedroom #1: 24×14 (second floor)
  • Bedroom #2: 14×13 (lower level)