Start Your Life in Chicago in the Iconic Marina Towers: A 1-Bedroom at 300 N. State

300 n state

This 1-bedroom the corn cob Marina Towers at 300 N. State in River North came on the market in mid-February 2016.

Designed by Bertrand Goldberg and built in 1964, the Marina Towers, built on the Chicago River, have become part of popular culture, having starred in television commercials, television shows and films.

The complex has two 65 story buildings.

This unit is on the 56th floor and faces north with John Hancock and city views.

The listing says it is a gut rehab. It has new wood floors in the living/kitchen areas.

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

The bathroom has been renovated and has a custom shower.

There’s no central air, just wall units, and there’s no in-unit washer/dryer, but the listing says it can be installed.

Parking is rental in the building.

Originally listed at $279,900, it has been reduced $14,900.

If you’re new to Chicago, is this a good starter condo?

Michael Michalak at Re/Max Exclusive has the listing. See the pictures here.

Unit #5619: 1 bedroom, 1 bath, 725 square feet

  • Sold in March 1999 for $110,000
  • Originally listed in February 2016 for $279,900
  • Reduced
  • Currently listed for $265,000
  • Assessments of $515 a month (includes cable, doorman, exercise room, exterior maintenance, lawn care)
  • Taxes of $4090
  • Parking available to rent in the building for $239 a month
  • No central air- wall units
  • No in-unit washer/dryer but listing says it can be installed
  • Bedroom: 15×11

Duplex Living But in a High Rise: A 3-Bedroom Penthouse at 230 W. Division in Old Town

230-w-division-approved

This 3-bedroom duplex penthouse in The Venetian high rise at 230 W. Division in Old Town recently came on the market.

It face north and east and appears to have 3 outdoor spaces: a wraparound balcony on the main floor, a balcony off the master bedroom and a rooftop deck accessed privately. (Although, I’m not totally sure the top floor deck is “private.”)

The first floor has the living/dining and one of the bedrooms.

The second floor has the two other bedrooms and a “bonus” room.

In addition to the balcony, the master bedroom also has a walk-in closet and marble bathroom.

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

The unit has the features buyers look for including central air, washer/dryer in the unit and 2-car tandem garage parking for $45,000 extra.

Is this a good townhouse alternative for those who like “levels”?

Christina DelGreco at Coldwell Banker has the listing. See the pictures here.

Unit #1508: 3 bedrooms, 2 bath, duplex up, no square footage listed

  • Sold in July 2004 for $716,000 (included the parking)
  • Currently listed for $679,000 (plus $45,000 for parking) = $724,900
  • Assessments of $1066 a month (includes doorman, cable, lawn care, scavenger, snow removal)
  • Taxes of $7783
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×14 (second floor)
  • Bedroom #2: 11×10 (second floor)
  • Bedroom #3: 12×11 (main floor)
  • Bonus room: 6×3 (second floor)

 

 

The Penthouse Premium: A 2-Bedroom at 1720 S. Michigan in the South Loop

1720 s michigan

This 2-bedroom penthouse in 1720 S. Michigan in the South Loop recently came on the market.

It has extra tall ceilings with floor-to-ceiling west views in the living room that make it seem almost loft-like.

The unit also has a 250 square foot terrace.

There are hardwood floors throughout.

It appears the second bedroom doesn’t have windows.

The kitchen has granite and stainless steel appliances.

The unit has the other amenities buyers look for including

central air, washer/dryer in the unit and garage parking is available for $30,000 extra.

In 2012, at the bottom of the market, another one of these 2-bedroom penthouses was on the market as a short sale for $289,000 and some of you STILL didn’t think it was a deal. See our 2012 chatter here.

This one is listed at $529,999, if you buy the parking space.

Are the days of deals in the South Loop gone for good?

Jennifer Lane at Coldwell Banker has the listing. See the pictures here.

Unit #3310: 2 bedrooms, 2 baths, 1284 square feet

  • Sold in February 2008 for $455,000 (included the parking)
  • Currently listed for $499,999 plus $30,000 for the parking = $529,999
  • Assessments of $464 a month (includes wifi, cable, doorman, heat, gas, a/c)
  • Taxes of $4051
  • Central Air
  • Washer/Dryer in the unit
  • 250 square foot terrace
  • Bedroom #1: 14×12
  • Bedroom #2: 13×11

A “10-Minute Walk to Comiskey” From This 2-Bedroom Loft: 3500 S. Sangamon in Bridgeport

3500-s-sangamon-approved

This 2-bedroom top floor loft in the Union Lofts at 3500 S. Sangamon in Bridgeport came on the market in December 2014.

We’ve chattered about this building before.

Converted into lofts in 2004, it was symbol that the neighborhood had “arrived” as lofts were hot in all the other hip neighborhoods so it was a sign that Bridgeport was hot too.

The lofts on the lower floors in this building have more authentic loft features, including exposed brick walls and timber beams.

This top floor unit doesn’t have that as it looks like it was added on to the top of the building during the conversion in order to add more units.

The building has 71 lofts and outdoor, gated parking.

There have been a rash of foreclosures and short sales in the building since the bust in 2008.

This 2-bedroom appears to be a short sale.

It has east exposure and skyline views.

There are hardwood floors in the living and kitchen areas.

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

It has the other features that buyers look for including central air and washer/dryer in the unit.

Now listed for just $199,000, including the parking spot, is this a deal for a neighborhood that’s on the upswing and for a location just a “10 minute walk from Comiskey Park”?

Steve Brashler at Re/Max 1st Service has the listing. See the pictures here.

Unit #506: 2 bedrooms, 2 baths, 1436 square feet

  • Sold in June 2004 for $375,000 (included 2 parking spaces)
  • Originally listed in December 2014 for $365,000 (included 1 parking space)
  • Reduced
  • Under contract once
  • Re-listed
  • Currently listed as a short sale for $199,900 (includes one parking space)
  • Assessments of $720 a month (includes exterior maintenance, scavenger, snow removal)
  • Taxes of $2913
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 16×16
  • Bedroom #2: 11×11

Market Conditions: Warm Weather Boosts January Sales But When Will Inventory Grow?

Abe Lincoln in winter 2010

The January home sales are out. As expected, January sales were up year over year.

That is actually a triumph because January sales the last 2 years have been depressed due to polar vortexes and all around nastiness. Weather this winter has been much improved allowing buyers to get out earlier.

Remember, January closings usually mean they went under contract considerably earlier, in November and December.

The city of Chicago saw a 1.1 percent year-over-year home sales increase in January 2016 with 1,363 sales, up from 1,348 in January 2015. The median price of a home in the city of Chicago in January 2016 was $230,000, up 4.5 percent compared to January 2015 when it was $220,000.

Sales Data Since 2006 (thanks to G for the older data):

  • 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: 1123 sales and median price of $149,000
  • January 2013: 1521 sales and median price of $157,000
  • January 2014: 1383 sales and median price of $200,750
  • January 2015: 1348 sales and median price of $220,000
  • January 2016: 1363 sales and median price of $230,000

Low inventories could definitely be hampering sales. Statewide, inventory declined 12.6% year over year.

“The Chicago market is seeing sustained, steady increases in both sales and prices,” said Dan Wagner, president of the Chicago Association of REALTORS® and senior vice president for governmental relations for the Inland Real Estate Group of Companies. “To have a January with strong results bodes well for the spring selling season when interest in the housing market typically increases.”

“The year appears to be getting off to a strong start, in no small part due to a mild winter,” said IAR President Mike Drews, broker-associate with Charles B. Doss & Co. in Aurora. “Sellers are getting very good overall prices due to diminished inventories. The strong consumer demand which was evident throughout 2015 seems to be holding firm as we start off 2016.”

When will sellers start listing?

Or will this be another spring without any inventory?

Illinois housing market starts 2016 strong with January gains in home sales, prices [Illinois Association of Realtors, Press Release, February 23, 2016]

Even Though It’s the Third Time, We Still Love This City Terrace: 375 W. Erie in River North

375 w erie approved

This 2-bedroom loft at 375 W. Erie in River North just came on the market.

But long time readers of Crib Chatter know that it has been featured here not just once, but twice, before.

We first chattered about it in 2008, when the bust first hit.

You can read the 2008 chatter here (along with pictures of what the unit looked like 8 years ago).

It sold again in 2010 so we again chattered about that sale.

See the 2010 chatter here.

6 years later, it returns to the market again with a new kitchen.

Why do we care enough to chatter about it THREE times?

It’s all about the 1000-square foot south facing private terrace.

Here are the original 2008 pictures:

375 w erie #610 terrace #1 2008

375 w erie #610 terrace #2 2008

375 w erie #610 flowers on terrace 2008

This loft has 11-foot wood ceilings and a fireplace.

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

It’s winter, so the terrace won’t look like this, but what could you do with a space of this size in River North?

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

It’s priced $175,000 more than the 2010 purchase price, and is listed at the highest price ever for this property.

What are you willing to pay for your own piece of green in the city?

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

Unit #610: 2 bedrooms, 2 baths, 1800 square feet

  • Sold in May 1998 for $328,500
  • Sold in April 2003 for $560,000
  • Listed in January 2008 for $680,000 (plus $35,000 for parking)
  • Reduced
  • Was listed in July 2008 for $585,000 (plus $35k for parking)
  • Sold in August 2008 for $570,000 (included the parking)
  • Was listed in March 2010 for $549,500 (plus $35,000 for parking)
  • Sold in May 2010 for $550,000 (included the parking)
  • Currently listed for $725,000 (includes the parking)
  • Assessments are now $749 a month (they were $521 a month in 2010)- includes doorman, exterior maintenance, scavenger
  • Taxes are now $7741 (they were $6446 in 2010)
  • Skylights
  • Central Air
  • In-Unit Washer/Dryer
  • Bedroom #1: 13×16
  • Bedroom #2: 15×16
  • Terrace: 70×15

What $400,000 Gets You in Portage Park: A 1923 Bungalow at 4426 N. Menard

This 4-bedroom bungalow at 4426 N. Menard in Portage Park came on the market in October 2015.

(Sorry, I don’t have a picture as I haven’t been able to get out to take pictures of new properties. As soon as spring arrives, I’ll be out there.)

The listing says it has been renovated and has all new windows, heat, plumbing, electric and doors.

The roof is just 3-years old.

Built in 1923 on a 30×125 lot, the house now has more of a modern floor plan, with an open layout.

The kitchen still appears to be a separate room, however, and it has the now popular white cabinets, granite counter tops, stainless steel appliances, subway tile backsplash and a stainless steel farmhouse sink.

There are hardwood floors on the first and second floors.

The basement has been finished and now sports a family room and laundry room along with a reclaimed barn wood wall.

Two of the bedrooms are on the main floor with two on the second floor.

The house has central air and a 2-car garage.

Originally listed at $424,900, it has been reduced to $399,900 and is still looking for a buyer.

Is $400,000 the price buyers will pay for move-in ready in Portage Park?

Halina Jozefiak at Re/Max Destiny has the listing. See the pictures here.

4426 N. Menard: 4 bedrooms, 2.5 baths, 2400 square feet, 2 car garage

  • No sales information prior to 2015 but it went into a trust in 2004
  • Sold in May 2015 for $207,000
  • Originally listed in October 2015 for $424,900
  • Reduced
  • Currently listed at $399,900
  • Taxes of $3976
  • Central Air
  • Bedroom #1: 19×14 (second floor)
  • Bedroom #2: 12×10 (main floor)
  • Bedroom #3: 12×10 (main floor)
  • Bedroom #4: 11×10 (second floor)
  • Den: 10×7 (main floor)
  • Laundry room: 12×10 (basement)
  • Family room: 29×23 (basement)

 

 

From Starter Home to Luxury Home in 6 Years: 832 N. Marshfield in West Town

832 n marshfield approved

This 3-bedroom single family home at 832 N. Marshfield in the East Village neighborhood of West Town just came on the market.

If it looks familiar, that’s because we chattered about it several times in 2010.

You can see our first chatter about it in March 2010.

It took about 6 months to sell but finally sold for $100,000 under its original list price in October 2010. See the chatter on the sale here.

Back in 2010, most of you thought this was an attractive price even though you questioned the neighborhood. We also had quite the discussion about the Chicago Avenue bus.

If you recall, the house was built in 1903 but updated in the 1990s. In 2010, it still had the older kitchen. You can see those pictures in the prior chatter.

Now, there is a new kitchen which is open to the living space which has an island. It has white cabinets, stone counter tops and stainless steel appliances.

The living room has 20 foot high ceilings.

There’s no basement but there’s a family room on the main floor.

All three bedrooms are on the second level.

There are two decks, one outside the family room and the second one directly above it, accessed through the master bedroom.

The house is built on a standard 25×125 Chicago lot, has a 2-car garage and central air.

In 2010, many of us considered this house a starter home, or a townhouse or duplex down alternative.

Originally listed at $549,900, it sold for $450,000.

The house is now listed 61% higher than the 2010 purchase price at $724,900.

Are luxury prices now the norm for single family homes in the East Village?

Seth Vamos at @properties has the listing. See the pictures here.

832 N. Marshfield: 3 bedrooms, 2.5 baths, 2178 square feet, 2 car garage

  • Sold in May 1994 for $43,000
  • Sold in October 1994 for $96,000
  • Was listed in March 2010 for $549,900
  • Reduced
  • Was listed in May 2010 for $499,900
  • Reduced
  • Was listed in August 2010 for $479,000
  • Sold in September 2010 for $450,000
  • Currently listed for $724,900
  • Taxes now $8028 (they were $7652 in October 2010)
  • Central Air
  • Bedroom #1: 20×12 (second floor)
  • Bedroom #2: 12×12 (second floor)
  • Bedroom #3: 12×12 (second floor)
  • Family room: 19×10 (main level)

Will the Abbott Estate Sell for Double Its 2004 Price? 4605 N. Hermitage in Ravenswood

4605 n Hermitage approved

The Abbott Estate at 4605 N. Hermitage in the Ravenswood neighborhood of Uptown recently came on the market.

If it looks familiar, it’s because we chattered about it in 2010 after it had been on the market during the Great Recession years in 2009 and 2010.

You can see our chatter here (where some of you advocated tearing this down and building something new).

This is a unique north side property.

Built in 1891 for the founder of Abbott Labs, this Victorian is on an oversized 92×165 corner lot (which is nearly an acre), and has a wrap around porch.

The house is 7000 square feet.

It also has an updated carriage house. In 2010 they were renting it out for $2400 a month. The current listing doesn’t say that it is rented.

In 2010, the listing said the home had updated bathrooms and mechanicals. The current listing says it has been “modernized.”

The kitchen has white cabinets and stainless steel appliances.

5 bedrooms are on the second floor with the master suite is on the top floor.

In 2010, the basement was unfinished but now the space has drywall and carpeting and a rec room, exercise room, work room and playroom.

There’s space pak cooling.

In the last hot market, in 2006, the house sold in only about a month for just $39,000 under the list price.

But in 2009, it didn’t sell until February 2011.

We’re back in a hot market again but the house is listed for more than double the 2004 price.

How long will it take to sell this time?

Julie Dorger at Coldwell Banker has the listing. See the pictures here.

4605 N. Hermitage: 6 bedrooms, 6 bathrooms, 7000 square feet

  • Sold in May 2004 for $1.5 million
  • Sold in October 2006 for $1.95 million
  • Originally listed in August 2009
  • Was listed in November 2009 at $2.338 million
  • Reduced
  • Listed in September 2010 for $1,999,999
  • Reduced
  • Was listed in October 2010 at $1,799,000
  • Sold in February 2011 for $1,606,000
  • Currently listed at $3.449 million
  • Taxes are now $16,141 (they were $18268 in October 2010)
  • Space Pak cooling
  • Rental carriage house
  • There’s now a 2-car garage
  • Bedroom #1: 18×17 (third floor)
  • Bedroom #2: 20×16 (second floor)
  • Bedroom #3: 19×16 (second floor)
  • Bedroom #4: 16×12 (second floor)
  • Bedroom #5: 12×11 (second floor)
  • Bedroom #6: 16×12 (second floor)
  • Recreation room: 44×15 (basement)
  • Exercise room: 20×19 (basement)
  • Work room: 12×11 (basement)
  • Playroom: 23×13 (basement)

How Hot Is This Market? Selling 3 Months Later at 474 N. Lake Shore Drive in Streeterville

474 n lake shore drive approved

This 3-bedroom in 474 N. Lake Shore Drive in Streeterville just came on the market.

It has south and west views from the 49th floor with views of the Lake, River, the city and Trump Tower.

At 1600 square feet, the unit has Brazilian cherry floors in the living/dining area.

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

The unit has central air, washer/dryer in the unit and parking is available in the building for $30,000.

It actually just sold last year, in November 2015, for $612,000, including the parking.

Now listed at $655,000, with the parking, and with no new major renovations done to it since the last sale, is this going to test just how hot this market really is?

Cheri Cho at MC Realty has the listing. See the pictures here.

Unit #4908: 3 bedrooms, 2.5 baths, 1600 square feet

  • Sold in October 2006 for $721,500 (included the parking)
  • Sold in November 2015 for $612,000 (included the parking)
  • Currently listed for $625,000 (parking at $30,000 extra)
  • Assessments of $1182 a month (includes doorman, cable, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
  • Taxes of $8619
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×12
  • Bedroom #2: 12×14
  • Bedroom #3: 12×11