Archive for November, 2011

Market Conditions: Chicago’s October Sales Rise 7.9% But Median Price Continues to Fall YOY

The “official” October sales data is out today. I cannot be near a computer this morning to post the actual data from the Illinois Association of Realtors. So I will post G’s data for October from the past 14 years- which is always very similar to the IAR’s numbers- and provides a pretty clear picture of […]

Love Modern Single Family Homes? 1529 W. Wolfram in Lakeview

We’ve been chattering about the recent spate of modern single family homes being built, especially in the West Town neighborhood, but this 5-bedroom new construction single family home at 1529 W. Wolfram is in Lakeview. The house is 5000 square feet on a standard Chicago lot of 25×125. It has custom millwork and a coffered ceiling […]

What Happens to Sellers 2 Years After the Price Cuts? The Vetro at 611 S. Wells

The Vetro, at 611 S. Wells, in the South Loop became famous in Chicago real estate lore for being the first of the new construction high rises to 1) sell units at an auction and then 2) to slash prices dramatically to move the rest of the inventory during the height of the financial crisis. […]

Market Conditions: Is Chicago’s Upper Bracket on the Road to Recovery?

Crain’s is reporting that William Wrigley Jr. has buyers for both his Lake Forest home and 2 out of the 3 multi-million dollar units he had listed as raw space in 65 E. Goethe in the Gold Coast. He is taking a loss on the Lake Forest home. The 11,000-square-foot Lake Forest home on Lake […]

Buy a “Secret Haven” 4-Flat in Old Irving Park: 3908 N. Kedvale

My picture of this 4-flat at 3908 N. Kedvale doesn’t do the gardens out front any justice as I’m sure you have to see them in full bloom to really appreciate them (see the listing photos for better pics.) This is a unique multi-family property on a large 62.6×173.6 property.  Given the lot size, there […]

Looking for a “One of a Kind” Gold Coast Penthouse? 221 E. Walton

This 3-bedroom at 221 E. Walton in the Gold Coast is among the most unique penthouses on the market right now. The triplex unit has a two story living room with an 18 foot wall of windows overlooking Lake Michigan. But if you long for city views, it has a third floor terrace with hot tub overlooking the […]

From $545K to $389K for this 2-Bedroom River North Loft: 360 W. Illinois

This 2-bedroom loft in the Sexton Lofts at 360 W. Illinois has been on the market since September 2011. It is bank owned and the bank has been lowering the price every two weeks. The loft is in the concrete side of the building, which many loft buyers prefer over the timber because there are […]

Trying to Resell a 2-Bedroom in The Legacy: 60 E. Monroe in the Loop

  This 2-bedroom on the 38th floor of The Legacy at 60 E. Monroe across from Millennium Park in the Loop recently came on the market. Although the listing says it is being used as the model, it is not owned by the developer. It was purchased in February 2010. It has northeast views of […]

Restore a 4-Bedroom Historic Pullman Mansion and Coach House: 602 E. 112th

This unique 4-bedroom mansion plus coach house at 602 E. 112th Street in the Pullman Historic District came on the market in September 2011. At 3781 square feet, it is one of the largest properties in the historic district and is in a prime location, near Arcade Park and across from Greenstone Church. Built in 1882, […]

Market Conditions: Sales of New Downtown Condos Fall Year Over Year in Q3

The market for new downtown condos remains grim. Crain’s reports that sales fell in the third quarter to 229 sales from 251 a year ago. That was, however, slightly better than the 196 sales recorded in the second quarter of 2011. Sales were also boosted by dramatic price cuts at the Parkside of Old Town […]