Archive for March, 2008

Short Sales Brewing at 2625 N. Clark In Lincoln Park

If you’ve walked up North Clark in Lincoln Park, you can’t help but notice 2625 N. Clark because it’s one of the few highrises on the street. Built in 1983, the building is 20 stories with 133 units. It does have an attached garage. It was an apartment building until it was converted into condos […]

Buy Now or Wait? Many Buying in Chicago as Prices Drop

Despite all the doom and gloom, sales are still happening.  People are still buying condos from flippers. Million dollar homes are still being sold. And even 20-somethings are buying in Lakeview and Lincoln Park for nearly half a million dollars. From Smart Money Magazine: INDIFFERENT TO THE bleak real estate headlines, 26-year-old Michael Klauer and his […]

Listing for $399,900 in the South Loop: 1305 S. Michigan

What’s selling? Units under $400,000. What’s not? Units over $400,000. Therefore, to sell, price under $400,000. That’s what a bunch of owners are doing at 1305 S. Michigan, the Museum Park Lofts, in the South Loop. The building was built in 2006 but because of all the construction surrounding it, it doesn’t seem to have […]

Foreclosures in West Town Multiply: 865 N Hermitage

Many people going into foreclosure attempt to sell first to get out of trouble.  There was recently a foreclosure auction on 865 N. Hermitage #3 in West Town but it was also on the market prior to the auction. Unit #3: 3 bedrooms, 3 baths, 1.5 parking, 3 private decks, Bosch kitchen Sold in March 2006 […]

Foreclosure Snapped Up in a Split Second: 33 W. Ontario

On March 5, I saw a listing for a foreclosed unit come on the market in Millennium Centre, at 33 W. Ontario, in River North. This building is one of the leading buildings for foreclosures in the city (along with, among others, The Sterling and River City.) But before I could blink, it was already snapped […]

As the Market Changes, Market Times Increase: 881 N. LaSalle

As we’ve chattered about before, it’s easy to misread this market as it slows. What might have sold quickly in 2005, doesn’t sell in 2008. This condo at 881 N. LaSalle in River North is an example of that. It has been on  the market on and off for over 2.5 years with over $140k in […]

Imagine No Granite or Stainless Steel: 143 W. Burton

If you look at Chicago real estate long enough you’ll notice one thing: all of the kitchens and baths look the same. Even most of the vintage condos and houses have been stripped of their vintage kitchens in favor of 42 inch oak cabinets, brown/black speckled granite,  and stainless steel appliances. If you want original features […]

What’s a Million Dollar Condo in 2008? 849 N. Franklin

The Parc Chestnut, at 849 N. Franklin, on the fringe of River North and the Gold Coast, started closings in 2006. Recently, from sales records, it looks like the developer finally sold a bunch of the 16th floor penthouse units.  Since the building has been marketed for over five years, and completed for two years, it […]

Kinzie Park Tower: 1500 SQ FT and Under $500k with Views To Boot

Kinzie Park Station is a gated community of townhouses and a highrise just west of the Chicago River.  When it was developed in 2000, it was in no-man’s land. Today, that’s not so true. And the views from the south facing units are pretty spectacular. One of the bonuses of the building, at 501 N. Clinton, is that due to […]

Overseas Owner Wants Out! 60 W. Erie in River North

60 W. Erie in River North is distinctive for its green windows and balconies. It is a small, boutique building that first closed on units in 2003. Many of the units have nice layouts with windows in the kitchens and bathrooms. A two bedroom unit is on the market where the listing states: “Overseas Owner Wants Out!” Unfortunately, that […]