Crib Chatter

Yet another million dollar new construction home that is under stress. This time it’s at 6238 N. Neva in Old Norwood. The listing says it’s in short sale. It’s been on the market since June of 2006. Here’s the listing: Short sale! Outstanding new construction home in historical Old Norwood. This 5 bed/4 bathroom home has it […]

We’ve chattered about several new construction million dollar single family homes that have been in short sale or in foreclosure. This 5-bedroom new home at 730 W. Melrose in Lakeview can be added to the list of McMansions under stress. It is currently in short sale. A lis pendens was filed in October 2008. Here’s […]

There have been several short sales in The Columbian, the 2007-construction South Loop high rise at 1160 S. Michigan. The building continues to struggle. Current stats out of 220 units: 57 for sale 7 for rent Some units can be both for sale AND for rent. We chattered about Unit #2502 back in May 2008 […]

This 3-bedroom unit at 1371 N. Mohawk in Old Town is in short sale but a lis pendens was also recently filed against it. The current short sale price is already $45k below what the unit sold for in 2001. Here’s the listing: Offer Subject To Lender’s Final Approval. Rarely Avbl. Top Flr Bi-level In […]

$2 million for a single family home in North Center? In 2007- why not? This new construction 5000 square foot home at 1510 W. Byron is on the market as a short sale. A lis pendens was filed against it in September 2008. It is also apparently “under contract.” Here’s the listing: SHORT SALE, ALL […]

We’re starting to see some properties with much longer market times.  This 2-bedroom penthouse unit at 1430 S. Michigan in the South Loop is one of those. Originally listed in September 2006, it has been reduced $120,000 and is now a “short sale opportunity”. Here’s the listing: SHORT SALE OPPORTUNITY. Striking and unique Northwest penthouse […]

Short sales continue in every neighborhood. This 2-bedroom is in short sale at The Royalle, a 2002 mid-rise building at 744 N. Clark in River North. Here’s the listing: SHORT SALE SUBJECT TO LENDER/BANK APPROVAL, RIVER NORTH, THE ROYALLE, INTIMATE BUILDING WITH 40 UNITS TOTAL, CONTEMPORARY DESIGN, OPEN FLOOR PLAN, BRIGHT, EAST/SOUTH EXPOSURES, DEN CAN BE […]

We last chattered about Unit #2301 at 1717 S. Prairie in May. At that time, the unit was listed for sale at about 40% off the 2006 sale price. A lis pendens was recently filed against the property. It continues to be on the market for the same price as in May. Here’s the listing: […]

It didn’t take long for flippers to get into trouble in Metropolitan Tower, at 310 S. Michigan, in the Loop. We last chattered about Metropolitan Tower in March when the building, a conversion of an old office building, first started closings. The building is not sold out. Interestingly, one of the units we chattered about […]

  The Park Tower, at 5415 N. Sheridan, is a massive condominium building built in 1972 with uninterrupted views of Lake Michigan. It is located across from Edgewater Beach. Recently there have been a string of foreclosures and short sales in the building. However, it’s a huge building. Current stats (out of around 730 units): 38 […]