Archive for February, 2008

Chicago Condo Market Conditions: 340 On The Park

We’ve chattered a lot about 340 on the Park but what is happening in that building is illustrative, I believe, of what is happening all over the Chicago condo market. The building is popular. It is getting a lot of press. It has “location, location, location” with unobstructed views to the south of Millennium Park, the Lake […]

Nothing Beats an Authentic Chicago Loft: 531 S. Plymouth

Printer’s Row has many of Chicago’s original loft buildings and some of the city’s most “authentic” lofts. The Mergenthaler Lofts at 531 S. Plymouth is one of those buildings.   Originally built in 1886, it was converted into apartments in 1979 and then into condominiums. There are only 20 units in the building. Some parking […]

Vintage Units Still Available at 433 W. Briar Place in Lakeview

433 W. Briar Place is a conversion of a 34 unit 1929 highrise in Lakeview. The developer started selling these over a year ago. I last chattered about this building in October when the developer was trying a sealed bid sale to move some of the units.  From the bid listing: Fab. Vintage 11 story building at 433 Briar between […]

Short Sales Springing Up in The 15th Street Lofts: 1503 S. State

The building at 1503 S. State, the former warehouse for State Street’s Boston Store in 1890, was rechristened The 15th Street Lofts in 2006 when the building was converted into 78 condo units. Two-thirds of the South Loop building is timber, and a third is concrete pier units with 11 to 12 foot ceilings. The building originally […]

Renovate Your Own Prairie Historic District Mansion: 1900 S. Prairie

We’ve talked about the prices in the South Loop compared to the North Side before. But what about a truly classic 1870 mansion and coachhouse?  And I do mean MANSION.  This house puts the new McMansions to shame. The Elbridge Keith Home at 1900 S. Prairie is 12,000 square feet,  including a coach house. Here’s an original picture […]

Living in the Gold Coast for under $250,000

There are, actually, quite a number of listings under $250,000 in the Gold Coast, Streeterville areas. Not all of them will be what most people are looking for (many lack parking or a washer/dryer or updating since the 1970s.) But I stumbled across this 1 bedroom in a vintage building on North LaSalle that has […]

Flipper Alert: Prepare Yourselves for 1347 S. Michigan

Closings will begin shortly at 1347 S. Michigan, otherwise known as 1400 Museum Park, in the Central Station Development in the South Loop. The building is 32 stories, with 260 units. Currently there are 27 units still available from the developers. But at least one listing has appeared on Craigslist as a rental.  The ad says […]

Crain’s Reports 36% Drop in 2007 on New Downtown Condo Sales

Crain’s is reporting a 36% drop in downtown condo sales in 2007. Sales have fallen 55% since 2005, which was a record year, but are around the pace of 2001-2003. None of this is a surprise to those of us who chatter on this site.  But some of the stats in the article are rather startling. […]

A Seller Under Stress Near UIC: 1075 W. Roosevelt

There has been a lot of new construction on west Roosevelt Road towards the UIC medical center and by St. Ignatius College Prep. 1075 W. Roosevelt Road is a 23 unit new construction mid-rise built in 2006 at the intersection of Roosevelt and Blue Island.  The original 2006 prices weren’t cheap. One bedrooms started around $180,000 […]

Steals and Deals: A One Bedroom Hyde Park Co-Op for $34,400

Yes, the title of this post is real. The unit in question is in foreclosure but is in one of the vintage high-rises along Lake Michigan in Hyde Park/Kenwood. 5000 S. East End Avenue was built in 1927-28.  The building was constructed in the “tudor gothic” style.  It is 28 stories tall and originally had 97 […]