Crib Chatter

This 2-bedroom loft in the 15th Street Lofts at 1503 S. State in the South Loop came on the market  in October 2024. I don’t have a good picture of this building. Sorry. Enjoy the fall leaves in Millennial Park instead.

Built in 1895, 15th Street Lofts has 78 units and attached heated garage parking. The building was converted during the housing boom in 2005-2007.

The listing says this is a “rare corner unit” and the “only 2-bedroom available in the building.”

This is a timber loft with some exposed brick and 12 foot beamed ceilings.

It also has a unique curved architectural window in the living room which leads out to a balcony with west and downtown views.

There are hardwood floors throughout.

The “modern kitchen” has wood Merillat cabinets with a built in pantry, a large island with seating for 2, granite counter tops, custom lighting and stainless steel Frigidaire appliances.

Both bedrooms have full height walls and windows.

The primary suite has an en suite bathroom with a double vanity and walk-in-shower.

The second bathroom is in the hallway and has an oversized tub.

The loft has the features that buyers look for including central air, washer/dryer in the unit and 1 heated garage parking space is included. The listing says it would normally cost $30,000 extra.

This building is near the shops and restaurants of the South Loop and several bus lines.

Listed at $345,000, that is just $2,000 above the 2020 sales price of $343,000.

It is also $60,000 below the 2007 sales price of $405,000, which was at the peak of the housing bubble.

The listing says this loft is an “excellent investment opportunity.”

Is it?

Patrick Shino and Dani Sorrou at Fulton Grace Realty have the listing. See the pictures and floor plan here.

Unit #601: 2 bedrooms, 2 baths, 1101 square feet, loft

• Sold in March 2007 for $405,000
• Lis pendens foreclosure in February 2008
• Sold from the bank in May 2008 for $305,000
• Sold in December 2020 for $343,000
• Originally listed in October 2024 for $345,000 (includes one garage parking space that normally sells for $30,000)
• Currently still listed at $345,000 (parking included)
• Assessments of $593 a month (includes heat, gas, parking, cable, exterior maintenance, scavenger, snow removal)
• Taxes of $6350 
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 12×10
• Bedroom #2: 10×10
• Living/dining combo: 17×18
• Kitchen: 15×7
• Laundry: 6×5
• Balcony

This 3-bedroom on the 12th floor in The Conservatory at 2314 N. Lincoln Park West in East Lincoln Park came on the market in November 2024.

The Conservatory was started in 1976, but per Dan #2 in another chatter about the building from 5 years ago, it appears it wasn’t completed until 1979.

It has 39 units with just 2 units per floor. There is attached garage parking and 24/7 door staff along with an on-site engineer.

This unit is “brand new rehabbed.”

There are engineered white oak hardwood floors throughout the 2000 square feet.

The living room, dining room and kitchen are open concept and face the Lake and Lincoln Park, including the conservatory.

There’s a balcony with “million dollar views” off the dining room.

The kitchen has white cabinets with gold fixtures but neutral wood cabinets on the double sided island which seats 3. It has “top of the line” appliances including Cafe/KitchenAid/Bosch, 2 ovens, a high-end refrigerator, steam capable microwave, a luxury Rohl faucet, a ventred range hood and quartz counter tops and backsplash.

The dining room has a dry bar with what looks like black cabinets with 2 Zephyr wine/beverage coolers.

All three bedrooms face west and are en suite. There is also a powder room near the kitchen.

The primary suite has a walk-in-closet and an en suite bathroom with a walk-in-shower with two shower heads and 6 body sprays, marble tiles, a double vanity and Kohler fixtures.

This unit has the features buyers look for including zoned cooling, washer/dryer in the unit and one garage space is included.

This building is in a prime location for those looking for a Lincoln Park address, with the Zoo and Conservatory across the street. It is next door to Mon Ami Gabi restaurant and is near the shops and restaurants on Clark.

There are several bus routes nearby.

Last time we chattered about this building in 2019, there was a lot of discussion about the “high” assessments. Keep in mind, the building only has 39 units and full time door staff.

This unit last sold from a long-time owner in April 2024 for $700,000. It came back on the market rehabbed for $1.25 million.

Buyers love “new.” Will the rehabber get his/her price?

Niko Voutsinas at Redfin has the listing. See the pictures and floor plan here.

Unit #12N: 3 bedrooms, 3.5 baths, 2000 square feet

• Sold in 1986 (can’t find a price)
• Sold in April 2024 for $700,000
• Listed in November 2024 for $1.25 million
• Assessments of $2625 a month (includes 1 indoor parking spot, heat, a/c, cable, Internet, door staff, on-site engineer, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $17,060
• Zoned cooling
• Washer/dryer in the unit
• 1 indoor parking space included
• Bedroom #1: 16×15
• Bedroom #2: 20×15
• Bedroom #3: 16×15
• Living room: 17×8
• Dining room: 15×15
• Kitchen: 14×15
• Walk-in-closet: 9×8
• Balcony facing the Lake

This 3-bedroom penthouse in One East at 1 E. Schiller in the Gold Coast has been on and off the market since 2022.

We last chattered about it in March 2023. Back then, some of you thought it was overpriced. See our chatter here.

One East was built in 1964 and has 78 units and attached rental parking.

This 3-bedroom penthouse in 1 E. Schiller in the Gold Coast came on the market in June 2022.

One East was built in 1961 and has 77 units and attached garage parking. It has 24/7 door staff, on-site maintenance, live-on property engineer and property manager.

If you recall, this penthouse has 3 exposures of South, North and West.

It’s a half-floor penthouse with 3500 square feet of interior space.

The unit has a single elevator access to the residence opening into a private vestibule foyer.

It has 7″ wide plank hardwood floors but some of the flooring looks like it’s tile or something else.

There is a wood-paneled den which has a double-sided wood burning fireplace.

The kitchen has white cabinets, some stainless steel appliances and a breakfast bar with seating for two.

The primary bedroom has a massive en suite bathroom with a blue soaking tub with corner views overlooking the city and a walk-in-closet.

A Custom Retractable Roof

But the most unique feature is the 12×30 sunroom which has a wet bar and a “custom retractable roof.”

There’s also a spiral staircase that leads to a private rooftop deck which the prior listing said was the only unit in the building with access to one.

It is “already built-out” and has a pergola and city views. There seems to be some sort of an outdoor bar in one picture.

It has the features buyers look for including central air, side-by-side washer/dryer in the unit and rental parking is available.

This building is a short stroll to Oak Street Beach, North Avenue Beach, Lake Michigan, Lincoln Park and the shops and restaurants of the Gold Coast.

Originally listed at $1.95 million, it was reduced $500,000 to $1.45 million. The listing now says it’s “priced for renovation.”

Is this cheap enough for someone to renovate it?

Nicholas Colagiovanni at Baird & Warner now has the listing. See the pictures and floor plan here.

Unit #PHW23: 3 bedrooms, 3 baths, 3500 square feet, penthouse

• Sold in December 1985 – no price listed in the CCRD
• Sold in June 2021 for $940,000
• Listed in June 2022 for $1.95 million
• Reduced
• Currently listed at $1.45 million
• Assessments are now $2825 a month (they were $2646 a month in March 2023) (includes doorman, cable, exterior maintenance, scavenger, snow removal)
• Taxes are now $16,246 (they were $15,483 in March 2023)
• Central Air
• Washer/dryer in the unit
• Garage parking is $275 a month for garage space or $235 a month for outdoor parking space
• Double sided wood burning fireplace
• Bedroom #1: 25×17
• Bedroom #2: 16×13
• Bedroom #3: 14×11
• Den: 16×13
• Living room: 25×15
• Dining room: 17×13
• Kitchen: 13×7
• Family room: 36×14
• Sunroom: 12×30
• Rooftop terrace: 35×26

This 2-bedroom duplex up in 919 N. Wolcott in West Town came on the market in October 2024.

Built in 2004 by Ranquist, this building has 9 units and attached garage parking.

This contemporary unit has a 19-foot wall of floor-to-ceiling windows that faces the street and the large 32×15 “zen-like” private outdoor space.

The listing says it has high-end finishes throughout including Philippe Starck for Hansgrohe and Duravit.

The kitchen has modern Arclinea cabinets in the kitchen, along with Miele, Subzero appliances and a peninsula with Carrara marble countertops and seating for 4.

There’s a exposed stone wall in the dining room which also has a partial wall. The listing says the dining room could be a third bedroom.

The second floor has a lofted den that is open to the lower level which leads to the primary suite.

The listing calls the primary suite a “tranquil retreat”. It has an en suite bathroom with a double vanity, a tub and a walk-in-shower.

The second bedroom is on the main floor and appears to have windows.

This unit has the features that buyers look for including central air, washer/dryer in the unit and one car garage parking.

This building is near the restaurants and shops on Chicago Avenue, along with the Mariano’s supermarket.

Listed at $699,900, that’s $51,900 above the 2023 sales price of $648,000.

Will this seller get the premium in this low-inventory market?

Anne Loncar at Coldwell Banker has the listing. See the pictures and floor plan here.

Unit #103: 2 bedrooms, 2 baths, duplex up, no square footage listed

• Sold in April 2004 for $450,000
• Sold in June 2008 for $620,000
• Sold in July 2013 for $570,000
• Sold in March 2019 for $560,000
• Sold in October 2021 for $635,000
• Sold in January 2023 for $648,000
• Originally listed in October 2024 for $699,900
• Currently still listed at $699,900
• Assessments of $366 a month (includes exterior maintenance, scavenger and snow removal)
• Taxes of $10,188
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Bedroom #1: 14×14 (second floor)
• Bedroom #2: 12×10 (main floor)
• Living room: 21×15 (main floor)
• Dining room: 14×11 (main floor)
• Kitchen: 13×9 (main floor)
• Office: 16×13 (second floor)
• Walk-in-closet: 9×7 (second floor)
• Laundry: 10×5 (main floor)
• Terrace: 32×15 (main floor)

This 3-bedroom single family home at 1524 N. Astor in the Gold Coast came on the market in January 2024.

But many of you will remember it from our last chatter in February 2021.

Back then, most of you focused on how high the taxes were. See the chatter here.

If you recall, it was built in 1969 by Chicago architect I.W. Colburn. It’s on a smaller than normal Chicago lot measuring 25×101.

The house is also directly on the historic, landmarked “Wooden Alley” which is only one, of two, still existing alleys paved with wood left in the city.

It also overlooks the Cardinal’s Mansion.

The listing says the current owner embarked on a 5-year redesign done by Marvin Herman & Associates and Suzanne Lovell Inc.

The interior is in art deco style.

The floors are stained, quartersawn white oak with a metal inlay.

There is custom millwork, cabinetry, drapes and paint throughout.

The first floor includes the entry foyer, the laundry room, and an office or guest room with a full bath.

The second floor features the living room, dining room and an eat-in kitchen along with a den, deck and terrace which overlooks the Cardinal’s Mansion across the alley.

The kitchen has dark cabinets, stone counter tops, an island, luxury stainless steel appliances and a banquette.

The third floor has the primary suite with an attached bathroom, another bedroom, also en suite, and a family room.

There’s also a curved rear staircase that leads down to a separate street-level suite that the listing says would be “ideal as a home office or guest/in-law suite.”

This suite also has its own entrance off the Wooden Alley which allows guests to visit without entering the main residence.

The listing says that the garden, koi pond and terraces were professionally landscaped by Scott Byron & Company.

There are 4 fireplaces, 4 zoned heating and central air conditioning, central humidification, dual water heaters, a security system and smart home functionality.

It still has just a 2-car garage although this was a question in 2021.

This house is near Lincoln Park, North Street Beach, and the shops and restaurants of Old Town.

It’s also a rare mid-century single family home in a neighborhood with many older historic homes.

When we last chattered about this home in February 2021 it was listed at $10.995 million.

It came back on the market in January 2024 reduced to $6.995 million. But that hasn’t closed the deal and it has been reduced further at $6.395 million.

It’s now listed $1.73 million below the 2000 sales price.

Is this house a deal?

Jennifer Ames at Engel & Voelkers again has the listing. See the pictures, a video and floor plans here.

1524 N. Astor: 3 bedrooms, 4 full baths, 2 half baths, 6500 square feet

• Sold in October 2000 for $8.125 million
• Originally listed in December 2020 at $10.995 million
• Removed in May 2021
• Re-listed in January 2024 at $6.995 million
• Reduced
• Currently listed at $6.395 million
• Taxes are now $72,139 (they were $80,649 in February 2021)
• 2-car garage parking
• 25×101 lot
• 4 fireplaces
• Central Air
• 3 outdoor spaces
• Skylight
• Bedroom #1: 22×15 (third floor)
• Bedroom #2: 11×15 (third floor)
• Bedroom #3: 23×15 (main floor)
• Living room: 22×21 (second floor)
• Dining room: 22×13 (second floor)
• Kitchen: 22×13 (second floor)
• Family room: 22×18 (third floor)
• Den: 15×15 (second floor)
• Laundry room: 6×11 (main floor)
• Terrace with koi pond: 23×12 (main floor)
• Terrace: 16×31 (second floor)
• Deck: 12×14 (second floor)

I’m taking a break to start November. As you can tell from my lack of posting on this site in parts of October, it’s just been a very busy time in my “real” life.

Vacations are good. Everyone needs time off.

However, I do think some interesting projects are coming online and the luxury market, outside of downtown condos, is very active.

It looks like low inventory will be the norm into 2025, so we will have to get used to it.

But I intend to pick up the baton again with new posts in mid-November. I’m hoping to cover more single family home listings, if possible.

I’ll be checking in on the site from the beach. Please play nice.

See you then-

Sabrina

Chicago’s September sales fell 12% as inventory remains low. It was the lowest number of sales since 2011, which was during the housing bust. (The picture above was actually taken in October 2011 in Lincoln Park.)

From the Illinois Association of Realtors:

The city of Chicago saw a 12.0 percent year-over-year home sales decrease in September 2024 with 1,643 sales, down from 1,867 in September 2023. The median price of a home in the city of Chicago in September 2024 was $350,000, an increase of 7.7 percent from September 2023 when the median price was $325,000.

September sales for the last 18 years:

• 2007: 2172 sales
• 2008: 1816 sales
• 2009: 1918 sales
• 2010: 1403 sales
• 2011: 1498 sales
• 2012: 1845 sales
• 2013: 2395 sales
• 2014: 2242 sales
• 2015: 2414 sales
• 2016: 2398 sales
• 2017: 2355 sales
• 2018: 2040 sales
• 2019: 2006 sales
• 2020: 2635 sales
• 2021: 2684 sales
• 2022: 2064 sales
• 2023: 1867 sales
• 2024: 1643 sales

Median prices for the last 18 years:

• 2007: $267,750
• 2008: $268,600
• 2009: $225,000
• 2010: $180,000
• 2011: $190,000
• 2012: $188,900
• 2013: $230,000
• 2014: $249,000
• 2015: $250,000
• 2016: $260,000
• 2017: $275,000
• 2018: $285,000
• 2019: $292,250
• 2020: $322,350
• 2021: $320,000
• 2022: $320,000
• 2023: $325,000
• 2024: $350,000

“In September, closed sales trended down, but the need to buy and sell was still evident in the decrease of days on market and increase in median sales price,” Erika Villegas, president of the Chicago Association of REALTORS® and broker and owner of RE/MAX In the Village said. “With interest rates hitting their lowest in September, and knowing a transaction cycle is around 60 days, we should see the impact of dropping interest rates in the coming months.”

The average 30-year fixed rate mortgage fell to the lowest level of the year at 6.18%. That was down from 6.5% in August and 7.2% in September of last year.

However, there is a lag on the mortgage rates as buyers tend to lock in the rate and then buy several months later.

September’s low rates won’t really show up until October and November closings.

Also of note, rates have risen again here in October.

Statewide, inventory continued to recover off of its lows for the second month in a row, gaining 6.1% to 22,284 from 21,010 homes last year. Inventory still remains extremely low statewide.

But Chicago inventory continued to drop, falling 8.9% to 5,254 homes.

For comparison purposes, for the month of September:

• 2021: 9,478
• 2022: 8,163
• 2023: 5,768
• 2024: 5,254

“Our three-month forecast expects statewide closed sales activity in the fourth quarter of 2024 to be about 6 percent lower than levels seen in the fourth quarter of 2023, and prices of single-family homes are expected to increase by nearly 14 percent by the end of the year compared to December 2023,” said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.

“Homebuying conditions continue to be challenging with affordability remaining a concern, but there are some signs that these conditions may ease with statewide housing inventories increasing starting in the second half of 2024 and recent declines in mortgage interest rates.”

Condo sales slumped more than single-family-home sales with condos down 15% to 976 while SFH sales were down just 7.2% to 667.

Number of days on the market in Chicago fell to 29 from 30 last year. It was also 30 days in September 2022. 29 to 30 days seems to be the new norm.

Given the lag in mortgage rates, and that they are again rising, are they a non-factor in influencing Chicago’s market for the rest of the year?

Illinois home sales fall while inventory and median prices rise in September [Illinois Association of Realtors Press Release, October 23, 2024]

This 2-bedroom in 320 W. Oakdale in East Lakeview came on the market in October 2024.

The building was designed by Milton Schwartz in 1955 and has 51 units and covered parking. It has many mid-century modern fans.

This is from Wikipedia about the building’s history:

The building at 320 West Oakdale is representative of the apartment building boom in Chicago, Illinois in the 1950s and 1960s. Milton M. Schwartz served as the building’s architect, contractor, and developer, and the building was his first major design. As such, he had complete control over the creative direction of the building, and so was able to tailor it to his interests.

Schwartz intended the building to serve as luxury apartments for the city elite. The apartment was designed so that residences had windows in three or four directions. Rooms were designed to resemble single-story ranch homes. The building was one of the first completely air conditioned all-glass apartments in Chicago.

Stark in its repetition and simplicity, it is a good example of the International Style. The building was highlighted in a 1955 Architectural Forum article about recent Chicago apartment buildings. In the article, it was compared favorably to nearby works by Ludwig Mies van der Rohe and Skidmore, Owings & Merrill. On April 23, 2013, the building was recognized by the National Park Service with a listing on the National Register of Historic Places.

There is on-site management, including an engineer, but no door staff. It has a bike room and a laundry room.

The listing calls this unit “mid-century modern perfection.”

It has walls of floor-to-ceiling glass windows with panoramic views of the lake, park and cityscape from the 20th floor.

There are hardwood floors in the main living areas.

The unit has a unique arched formal entry foyer.

It has a large great room which can really be used almost as 2 living rooms.

There’s a separate dining room which is open to the great room.

The kitchen has the original St Charles wood cabinets but has been updated with quartz countertops, stainless steel appliances, including a wine refrigerator, and terrazzo tile floors. It also has a peninsula which seats 3.

This unit has some of the features buyers look for including central air and parking for $25,000 extra but it doesn’t have in-unit washer/dryer. There is a laundry room in the building.

It also has just 1.5 baths instead of 2 full bathrooms.

This building is near Lincoln Park, the Diversey driving range, the shops and restaurants of Broadway and East Lakeview and multiple bus routes.

Listed in October 2024 at $550,000,  is this a dream unit for those who love mid-century modern architecture?

Brad Lippitz and Anne Killarney at Compass have the listing. See the pictures here (sorry, no floor plan).

Unit #2003: 2 bedrooms, 1.5 baths, 1600 square feet

• Sold in January 1996 for $140,000
• Sold in July 2007 for $384,000
• Lis pendens foreclosure filed in July 2012
• Bank owned in May 2013
• Sold in March 2014 for $259,000
• Sold in January 2022 for $465,000
• Currently listed at $550,000
• Assessments of $1235 a month (includes heat, a/c, security, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $8176
• Central Air
• No washer/dryer in the unit (laundry room in the building)
• Parking for $25,000
• Bedroom #1: 16×12
• Bedroom #2: 12×11
• Kitchen: 14×13
• Living room: 29×15
• Dining room: 16×14
• Foyer

This new construction 4-bedroom duplex down at 1457 W. Roscoe in the Southport neighborhood of Lakeview came on the market in September 2024.

Built in 2024, 1457 W. Roscoe is on a corner lot on Roscoe and Greenview. It has 3 units and garage parking.

The listing says it is a full masonry and limestone construction by Surf Development.

At 3100 square feet, it “truly lives like a single family home.”

It has an extra-large floor plan with 10 foot high ceilings.

The home has extensive crown moldings, wainscotting, and millwork throughout.

It has 3.5″ white oak floors throughout.

The living room has a custom built fireplace mantel with a marble surround. There is also a fireplace in the great room with built-in bookcases.

The first floor has the living room, dining room, great room and kitchen.

The kitchen has white cabinets, an extra large quartz island, luxury appliances including Subzero and a 48″ Wolf range, Wolf microwave and Cove dishwasher.

The lower level has all 4 bedrooms, 3 baths and a second family room.

The primary suite has a “spa-like” bathroom with double vanity, separate steam shower, heated floors along with a walk-in-closet.

There are 3 outdoor spaces including over the garage and a private deck off the primary suite.

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

This building is near the Southport corridor including all of its shops and restaurants and also near the Southport Brown Line stop.

Unit #2 in the building is already under contract listed at $874,000. It’s a 3 bedroom, 2 bath at 1550 square feet.

You can look at those pictures here.

This unit was originally listed in September 2024 for $1,549,999, went under contract in October, but came back on the market with a $50,000 price cut at $1.495 million.

Is $1.495 million the new price point for a luxury duplex down in Southport?

Mary McCauley at Surf Real Estate has the listing. See the pictures and floor plan here.

Unit #1: 4 bedrooms, 3.5 baths, 3100 square feet, duplex down

• New construction in 2024
• Originally listed in September 2024 for $1,549,999
• Under contract in October 2024
• Re-listed
• Reduced
• Currently listed at $1.495 million
• It doesn’t list an assessment
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Garage parking space included
• 2 fireplaces
• Bedroom #1: 13×13 (lower level)
• Bedroom #2: 11×10 (lower level)

This 2-bedroom at 3359 N. Clifton in the Wrigleyville neighborhood of Lakeview came on the market in October 2024.

Built in 1895, 3359 N. Clifton has 6 units and attached heated garage parking. The building is a walk-up.

It was converted into condos in 2003.

This unit is one of the turet units with a “blend of charm and comfort.”

It has 10-foot ceilings and oversized windows with 3 exposures.

Although the building is vintage, it doesn’t have much of its vintage charm on the interiors outside of hardwood floors throughout. There is no crown molding or fireplace.

The kitchen has been “refreshed” and has freshly painted gray cabinets (looks like they were white in the 2020 sale) and new white countertops (they were black granite previously).

The listing says there is a breakfast bar, but it looks like an island with seating for 2.

There is a living/dining room combo with gold light fixtures.

Even though it’s a vintage building, the unit has the features that buyers look for with central air, washer/dryer in the unit and one heated garage space included.

It also has private outdoor space with a deck off the kitchen for grilling and entertainment.

There’s also extra storage in the basement.

This building is located near both Wrigley Field and the Southport corridor but I choose to call it as being in Wrigleyville as it’s east of Racine.

However, shops and restaurants are just a short stroll away, with Two Hearted Queen cafe just a block away, as are bus lines and the subway.

It is not on the El (which is across the street on Roscoe)

Listed at $475,000, does this unit have it all for buyers looking under $500k in this popular neighborhood?

Curtis Crotty at Keller Williams ONEChicago has the listing. See the pictures here (sorry, no floor plan).

Unit #2: 2 bedrooms, 2 baths, no square footage listed

• Sold in November 2003 for $345,000
• Sold in July 2015 for $348,000
• Sold in June 2020 for $402,500
• Originally listed in October 2024 for $475,000
• Assessments of $300 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $7173
• Central Air
• Washer/dryer in the unit
• Heated garage parking included
• Bedroom #1: 8×19
• Bedroom #2: 10×10
• Sitting room: 9×7
• Living room: 31×17
• Dining room: 10×9
• Kitchen: 10×13