“Must Have 20% Down”: A 2-Bedroom Loft At 1000 W. Diversey In Lakeview

This 2-bedroom loft at 1000 W. Diversey in Lakeview just came on the market.

We’ve chattered about a loft in this building before but that one had a rooftop deck.

This is the building that includes the Starbucks at Sheffield and Diversey and is across the street from the Lincoln Park Athletic Club

It has many of the features loft lovers crave including 18 foot ceilings, exposed brick (including in one of the bathrooms) and a lofted bathroom.

The listing says there is a “brand new” kitchen with maple cabinets, granite counter tops and stainless steel appliances.

The loft has central air, washer/dryer in the unit and a garage parking space.

But the listing also says that the buyer “must have 20% down.”

Will that downpayment requirement keep this loft on the market?

How many buyers have 20% down in this price range?

Andrea Farley at Baird & Warner has the listing. See the pictures here.

Unit #3F: 2 bedrooms, 1.5 baths, 1800 square feet, 1 car garage

  • Sold in May 1991 for $212,000
  • Sold in August 1997 for $225,000
  • Sold in March 1999 for $291,000
  • Currently listed for $399,000
  • Assessments of $369 a month
  • Taxes of $6061
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 17×12
  • Bedroom #2: 14×13

We Love Wide Open Artists Lofts: 400 N. Racine In West Town

This 2-bedroom loft at 400 N. Racine in West Town just came on the market (or is this the West Loop? It’s north of the railroad tracks so I’m calling it West Town.)

It’s not the small packaged and staged type of loft we normally see.

At 2650 square feet it has a wide open floor plan (few walls!) with coated concrete and wood floors and 13 1/2 foot ceilings.

It has an industrial stainless steel kitchen with stainless steel counter tops on the island.

The loft has the amenities buyers look for including central air, washer/dryer in the unit and gated parking.

It’s listed $69,000 over the 2005 price at $449,000.

Will this unique space get the premium?

Quin O’Brien at 4 Sale Realty has the listing. See the pictures here.

Unit #106: 2 bedrooms, 1 bath, 2650 square feet

  • Sold in April 1996 for $162,500
  • Sold in March 2005 for $380,000
  • Currently listed at $449,000
  • Assessments of $265 a month
  • Taxes of $5267
  • Central Air
  • Washer/Dryer in the unit
  • Gated parking included
  • Bedroom #1: 16×13
  • Bedroom #2: 16×13

Will Reducing Under $1 Million Be The Charm For This Old Norwood Park 4-Bedroom? 5692 N. New Hampshire

We’ve chattered about this 4-bedroom new(er) construction single family home at 5692 N. New Hampshire in Old Norword Park several times over the last few years because it originally came on the market in 2009.

See our 2011 chatter here.

It was 5-bedrooms in its last listing and I can’t figure out what happened to the fifth bedroom, which was in the basement. Did it become the recreation room?

If you recall, the house is located on the highly coveted circle.

Built in 2007, the house has 12-foot ceilings and 5 fireplaces.

There are Brazilian walnut wood floors throughout as well as a 12 seat home theater complete with leather reclining seats.

The kitchen has unique stone work, custom cabinets and onyx counter tops.

Built on an oversized 50×200 lot, it has a rare city 4-car garage with a 600 square foot attic.

In 2011, it was listed at $1.299 million.

It’s been reduced to $975,000.

Will it finally find a buyer under $1 million?

Carol Larson at Baird & Warner now has the listing. See the pictures here.

5692 N. New Hampshire: 4 bedrooms, 5 baths, 4 car garage, 4904 square feet

  • Sold in September 1994 for $240,000
  • New construction in 2007
  • Originally listed in February 2009 for $1.895 million
  • Reduced
  • Was listed in October 2010 at $1,399,900
  • Reduced
  • Currently listed at $1.299 million
  • Withdrawn in November 2012
  • Re-listed in February 2013 for $975,000
  • Taxes now $6323 (they were $5540 in 2011)
  • Central Air
  • Bedroom #1: 24×13 (second floor)
  • Bedroom #2: 14×14 (second floor)
  • Bedroom #3: 14×13 (second floor)
  • Bedroom #4: 14×13 (second floor)
  • Maid room: 29×22 (third floor)
  • Theater room: 22×15 (basement)
  • Recreation room: 24×20 (basement)

 

Get A Bank Owned 2-Bedroom Loft With Parking For Under $140,000: 1645 W. Ogden In The West Loop

We’ve chattered about the distress sales like this 2-bedroom loft in the Paramount Lofts at 1645 W. Ogden in the West Loop before.

The Paramount Lofts has 206 units so it’s taking awhile to work through all the foreclosures.

This loft had a lis pendens filed in 2008 and only become bank owned in March 2012.

At 1100 square feet, it has hardwood floors and the kitchen is intact except for the appliances. It has maple cabinets and granite counter tops.

The bathrooms are marble.

It has a washer/dryer hook-up, central air and a 1-car garage is included.

The unit is listed 47% under its 2006 price at $136,000.

Is this a deal?

Nekesha Burton at Reflective Realty has the listing. See the pictures here.

Unit #417: 2 bedrooms, 2 bathrooms, 1100 square feet

  • Sold in April 2006 for $271,000
  • Lis pendens filed in January 2008
  • Bank owned in March 2012
  • Listed in February 2012 for $136,000 (parking included)
  • Assessments of $396 a month (includes doorman)
  • Taxes of $2354
  • Central Air
  • Washer/dryer hook-ups
  • Bedroom #1: 15×11
  • Bedroom #2: 14×12

Market Conditions: January Home Sales Jump 32.2% In Chicago To A 6-Year High

I almost forgot about the January home sales. Everyone knows it was a hot, hot, hot start to the year in Chicago.

From the Illinois Association of Realtors:

The city of Chicago saw a 32.2 percent year-over-year home sales increase in January 2013 with 1,485 sales, up from 1,123 in January 2012.

The condo market in the city of Chicago showed a sales increase of 29.7 percent to 829 units sold in January 2013.

The median price of a home in the city of Chicago in January 2013 was $159,000 up 7.4 percent compared to January 2012 when it was $148,000.

Here’s the data since 2006 (thanks to G):

  • January 2006: 2009 sales and median price of $258,000
  • January 2007: 1850 sales and median price of $279,900
  • January 2008: 1203 sales and median price of $290,000
  • January 2009: 918 sales and median price of $205,000
  • January 2010: 1237 sales and median price of $195,000
  • January 2011: 1034 sales and median price of $150,000
  • January 2012: 1093 sales and median price of $149,000 (not sure why IAR has 1123 sales for last year)
  • January 2013: 1485 sales and median price of $159,000

The percentage of total January Chicago sales that were REO/Short Sales:

  • 2009: 25%
  • 2010: 42%
  • 2011: 50%
  • 2012: 49%
  • ?

Chicago condo/townhouse sales:

  • January 2009: 474 sales and median price of $308,625
  • January 2010: 675 sales and median price of $279,000
  • January 2011: 585 sales and median price of $180,000
  • January 2012: 623 sales and median price of $185,000
  • January 2013: 829 sales and median price of $202,500

“The first month of 2013 continues to show positive signs of a market recovery in the city of Chicago,” said REALTOR® Zeke Morris, president of the Chicago Association of REALTORS® and Operating Principal and Managing Broker, Keller Williams Realty, CCG. “The median price of a condo rose to $202,500, up 8.7 percent from January of last year. The condo market’s slow revival shows a steady but measured improvement that we will continue to watch as an indicator for the greater health of the city’s housing marketplace in 2013.”

“Foreclosures continue to dampen price gains and reduce inventory levels as prospective sellers are wary of the effect these properties have on their own prospects,” said Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory at the University of Illinois. “However, the sales volumes are impressive and with foreclosure sales continuing to outpace new additions, there is some expectation that over the next year, prices might start to move upward in some sustained fashion.”

What are the issues that could derail this housing recovery this year?

Will rising mortgage rates (if they rise) or continued frustration over low inventory do it?

Home sales, median prices increase in January; housing gains extend into new year [Illinois Association of Realtors, Press Release, February 21, 2013]

6 Months Later This 4-Bedroom Colonial Revival Is Back Listed For $40K More: 6270 N. Louise In Edgebrook

We last chattered about this 4-bedroom Colonial Revival at 6270 N. Louise in Historic Old Edgebrook in June 2012.

See our prior chatter here.

At the time, it was listed at $719,000 and sold in September 2012 at $685,000.

Just 6 months later, the house has come back on the market $40,000 higher.

It doesn’t appear that anything was done to the house in the interim, except possibly some new kitchen appliances.

If you recall, it was built in 1924, it has many of its original details including a wood burning fireplace, french doors and crown molding.

The house still has the original butler pantry with built-ins.

The kitchen has granite counter tops and stainless steel appliances.

Constructed on a non-standard Chicago lot measuring 100x100x127x75, it has central air and a 1-car garage.

Three of the 4 bedrooms are on the second floor with the fourth on the third floor. There is also a main floor family room and an unfinished basement.

Will the house get the premium over just 6 months ago in this hot, low inventory market?

Robin Allotta at Conlon now has the listing. See the pictures here.

6270 N. Louise: 4 bedrooms, 2 baths, 3425 square feet, 1 car garage

  • I couldn’t find an original purchase price
  • Originally listed in April 2012 for $749,000
  • Reduced
  • Was listed in June 2012 for $719,000
  • Sold in September 2012 for $685,000
  • Currently listed for $725,000
  • Taxes of $10,857
  • Central Air
  • Bedroom #1: 28×14 (second floor)
  • Bedroom #2: 15×14 (second floor)
  • Bedroom #3: 12×12 (second floor)
  • Bedroom #4: 14×13 (third floor)
  • Family room: 18×12 (main level)

Got Books? This Lincoln Park 2-Bedroom Is For You: 615 W. Deming

This 2-bedroom in Stonegate Terrace at 615 W. Deming in East Lincoln Park recently came on the market.

The building was built in 1999 and has an elevator.

The unit was last listed about 2 years ago but didn’t sell.

At 2100 square feet, the duplex up has a 2-story living room with a wall of built-in bookshelves from floor to ceiling (complete with ladder.)

If you can’t fit a book collection on those shelves, you have a real problem.

The kitchen is described in the listing as a “chef’s kitchen” with a large granite kitchen island, white cabinets and a white refrigerator and stove but stainless steel dishwasher.

There’s a family room, which appears to be the loft, on the second floor, along with the two bedrooms.

The master bathroom is marble.

It is a south facing unit, so it looks out to the back of the building.

It has a 20×8 deck and a garage space.

In 2011, it came on the market at $735,000 and lowered to $679,000 before being cancelled.

But that was then and this is now.

It has come back on at a higher price, at $699,900.

Will it find a buyer in this hotter market?

James Kramer at Koenig & Strey has the listing. See the pictures here.

Unit #403: 2 bedrooms, 2 baths, 2100 square feet, duplex up, 1 car garage

  • Sold in February 1999 for $420,000
  • Sold in June 2007 for $695,500
  • Originally listed in March 2011 for $735,000
  • Reduced
  • Was listed in November 2011 for $679,000
  • Withdrawn
  • Currently listed for $699,900
  • Assessments of $488 a month
  • Taxes of $9026
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 16×15 (second floor)
  • Bedroom #2: 14×12 (main floor)
  • Family room: 23×10 (second floor)

 

 

This 4-Bedroom New Contemporary Is Listed For $799K But There’s A Catch: 4511 N. Wolcott In Lincoln Square

This 4-bedroom new construction contemporary at 4511 N. Wolcott in Lincoln Square came on the market January 2, 2013.

It’s on an oversized lot measuring 25×152 and has a 2-car garage.

Three of the four bedrooms are on the second floor and the fourth is on the main level.

The lower level has a large 55×18 family room with a bathroom.

The listing says it has an “open floor plan” and modern cabinetry along with a floating staircase.

There are no pictures of the interior with the listing but we’ve seen enough of the new construction contemporaries to have an inkling of what it looks like.

This house is listed at $799,000.

What’s the catch?

The brown line El tracks run directly behind it.

The house that stood in this location before was on the market for 2 years before finally selling in August of 2012 for $170,000.

A Redfin agent who has toured the new property says there are very few windows in the back of the house.

I have linked to the floorplan below so you can see for yourself. The deck on the second story actually belongs to the master bedroom.

Will this be a hard sell at this price?

Or will the “newness” trump the El track?

Karen Biazar at the North Clybourn Group has the listing. See the floorplan here.

Or see it at the Open House this Sunday, February 24 from 11:00 AM to 12:30 PM.

4511 N. Wolcott: 4 bedrooms, 3 baths, 3200 square feet, 2 car garage

  • Previous house sold in August 2012 for $170,000
  • Originally listed in January 2013 for $799,000
  • Currently still listed for $799,000
  • Taxes are “new”
  • Central Air
  • Bedroom #1: 16×14 (second floor)
  • Bedroom #2: 11×12 (second floor)
  • Bedroom #3: 11×10 (second floor)
  • Bedroom #4: 10×13 (main floor)

 

Are You A Foodie? This 2-Bedroom Is On Restaurant Row: 720 W. Randolph In The West Loop

This 2-bedroom in City View Tower at 720 W. Randolph in the West Loop recently came on the market.

It is in a very strategic location for those who are foodies.

Not only are all the hot restaurants of Randolph Street just a few steps away but the intriguing French Market at the Ogilvie Train Station is just a few blocks east.

It looks like this 2-bedroom was part of a larget foreclosure purchase in 2010 where an investor bought a bunch of units.

At 1413 square feet, this is no small 2-bedroom. It has a den that the listing says could be used as a dining room.

The kitchen has dark cabinets, granite counter tops, including a kitchen island, and stainless steel appliances.

It has a side-by-side washer/dryer, central air and parking is available for $24,900.

Listed at $293,900, is this a deal for the square footage?

D. Waveland Kendt at @Properties has the listing. See the pictures here.

Unit #808: 2 bedrooms, 2 baths, den, 1413 square feet

  • Sold in foreclosure purchase along with other units in the building in November 2010
  • Currently listed at $293,900 (plus $24,900 for parking)
  • Assessments of $432 a month
  • Taxes of $5186
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 20×12
  • Bedroom #2: 12×11

How Many Offers Will This 4-Bedroom Lakeview House Receive? 1524 W. Oakdale

This 4-bedroom single family home at 1524 W. Oakdale in Lakeview came on the market last week.

I’ve been told that it had several offers within the first 24 hours.

I’ve also heard that demand to see it was so strong that there was simply an open house on Sunday for all interested parties and that “best and final” offers were due on Sunday night.

Why is it so special?

It’s the only 4-bedroom single family home listed under $800,000 in the Burley school district.

Location, location, location!

It also has the features lots of buyers are looking for.

It’s on a standard Chicago lot measuring 25×125 and has a two car garage.

This house has its front door on the main level with the family room and a bedroom on that level.

The living/dining/kitchen are on the second level, along with another bedroom and then the master bedroom and a second bedroom are on the top floor.

The kitchen is newer with cherry cabinets, granite counter tops and stainless steel appliances.

The master bedroom has cathedral ceilings and there are skylights.

The house previously sold in 2007 for $830,000. It’s listed at $775,000.

Will the bidding war push the final sales price over the 2007 price?

(And yes- I expect it to be under contract as of today.)

Stephanie Cutter at Coldwell Banker has the listing. See the pictures here.

1524 W. Oakdale: 4 bedrooms, 2.5 baths, no square footage listed, 2 car garage

  • Sold in September 1994 for $334,000
  • Sold in April 1999 for $480,000
  • Sold in July 2007 for $830,000
  • Originally listed in February 2013 for $775,000
  • Under contract shortly???
  • Taxes of $10,900
  • Central Air
  • Bedroom #1: 17×12 (third floor)
  • Bedroom #2: 14×10 (third floor)
  • Bedroom #3: 15×10 (second floor)
  • Bedroom #4: 12×9 (main floor)
  • Family room: 21×12 (main floor)