Archive for December, 2008

Market Conditions: Foreclosures and Winter Don’t Mix

Thanks to the tipster who sent me the link to this Dec 26 report on Fox News about a new construction single family home in Wicker Park that is now bank-owned. I don’t have the exact address but I’m sure someone on here will figure it out from the information in the segment. It is facing complete […]

Catching a Falling Knife? 10 E. Ontario in River North

One of the 1-bedroom short sales that we chattered about in 10 E. Ontario in River North in May 2008 sold a few days ago. (Thanks to the tipster who sent me info on this unit.) Is this buyer catching a falling knife? The current stats in the building (out of 467 units): 64 for […]

Update on Two Units in 530 N. Lake Shore Drive in Streeterville

We chattered about these two units at 530 N. Lake Shore Drive in Streeterville last February. Both sold. Unit #1801, a 3 bedroom, 3 bath unit at 2772 square feet sold for $260,000 under its original asking price. See the pictures here. Here’s the history: Unit #1801: 3 bedroom, 3 baths,  2772 square feet, two terraces […]

Market Conditions: November Sales Plummet 41.3% Year Over Year

Chicago home sales continue to plunge, as November recorded the sharpest year-over-year decline in the city in 2008. Sales of single family homes and condominiums in the city fell 41.3% in November compared to a year ago.  Only 1,057 sales closed compared with 1,801 in November 2007. The median price declined 23.3% to $222,500 compared to $290,000 […]

This Flip Was Cancelled: 1952 N. Seminary in Lincoln Park

Remember this vintage unit at 1952 N. Seminary in Lincoln Park that was bought in 2007 by 606 Development Group, renovated, and re-listed in July 2008? It was professionally staged. It never sold. The listing was cancelled. See the pictures here. Here’s the history again: Unit #3: 2 bedrooms, 2 baths, dining room, no square […]

This Lakeview New Construction McMansion Finally Sells: 1933 W. Barry

One of the many empty McMansion homes we’ve chattered about has sold. This new construction 5-bedroom home at 1933 W. Barry in Lakeview was on the market for years before it finally sold as a short sale in July 2008. See the pictures here. Here’s its history again: 1933 W. Barry: 5 bedrooms, 3.5 baths, […]

Flipper Alert: One Year Holding Period Expires in 600 N. Lake Shore Drive

We’ve chattered about how Belgravia Group’s twin towers at 600 N. Lake Shore Drive were not inundated with flippers last year apparently because of the 1-year lock-up in the sales contract. Here are the building stats (out of 155 units): 19 for sale 11 for rent Some may be both for sale AND for rent. […]

Update: The Tale of Two Sales in Lincoln Park

We chattered about both of these Lincoln Park properties in June 2008. 2048 N. Sheffield was a 2-bedroom vintage unit with jacuzzi on the rooftop deck. See the pictures here. 2708 N. Halsted was a 3-bedroom new construction where the seller was trying to sell only 1-year later. It had a 960 square foot deck. […]

New Agent, Higher Price: Chaplin’s Penthouse at 2800 N. Pine Grove

We last chattered about Charlie Chaplin’s former 3-bedroom penthouse at 2800 N. Pine Grove in Lakeview in September 2008, after it had been reduced (again). The property now has a new listing agent . . . and a new higher listing price. But interestingly- interior pictures are missing yet again. Still no pictures of the 18-foot high […]

Flipper Alert: First Flip Appears in the Elysian at 11 E. Walton

You thought the Elysian hotel/condo flippers at 11 E. Walton in the Gold Coast would wait until it got closer to closings to begin to try and flip? This 1-bedroom unit just appeared on Craigslist and the MLS. The listing says it’s “below developer pricing” and that it’s scheduled to close in mid-2009. Will Elysian flippers have […]