Crib Chatter

The Illinois Association of Realtors is out with the August sales.

During the month, there was a second looting episode while the coronavirus pandemic continued.

Many thought there would be fleeing from the city to the suburbs and other states but sales continue to see year-over-year gains in the strongest August in 4 years.

The city of Chicago saw year-over-year home sales increase 8.2 percent with 2,813 sales in August, compared to 2,601 a year ago. The median price of a home in the city of Chicago in August was $335,000, up 15.6 percent from August 2019.

However, the suburbs saw August home sales jump 19.6%.

August sales since 2007:

• August 2007: 2923 sales
• August 2008: 2078 sales
• August 2009: 1927 sales
• August 2010: 1486 sales
• August 2011: 1787 sales
• August 2012: 2209 sales
• August 2013: 2850 sales
• August 2014: 2414 sales
• August 2015: 2701 sales
• August 2016: 2844 sales
• August 2017: 2791 sales
• August 2018: 2754 sales
• August 2019: 2601 sales
• August 2020: 2813 sales

August median price since 2007:

• August 2007: $305,000
• August 2008: $297,500
• August 2009: $229,900
• August 2010: $200,000
• August 2011: $192,500
• August 2012: $200,000
• August 2013: $245,000
• August 2014: $269,500
• August 2015: $271,000
• August 2016: $271,000
• August 2017: $284,000
• August 2018: $280,000
• August 2019: $289,900
• August 2020: $335,000

This is now a new record median home price for August, surpassing the housing bubble highs.

Of course, median reflects the mix that sells and does not indicate that prices are “rising”.

Single family home sales in Chicago were up 14.8% to 1,130 sales while condos were up just 4.1% to 1,683.

“The Chicago market was hot in August as homebuyers took advantage of record-low mortgage rates,” said Maurice Hampton, president of the Chicago Association of REALTORS® and owner of Centered International Realty. “The market data reflects this, with significant increases in closed sales and median sales prices, and a drop in inventory, compared to last August. The spike in single family home sales and prices reflects increasing desires for greater space as a result of the ongoing pandemic.”

The average 30-year fixed mortgage rate was 2.94% in August, down from 3.02% in July. In August 2019 it was 3.62%.

Inventory plunged statewide by 35.5% to just 40,449 homes from 62,737 homes in August 2019.

“The Illinois housing market continued its summer surge in August with strong gains in both home sales and median prices,” said Sue Miller, president of Illinois REALTORS® and designated managing broker of Coldwell Banker Real Estate Group in McHenry. “Consumers are motivated and ready to buy, but many are facing chronic inventory shortfalls and that is affecting their house hunting.”

Inventory crashed 34.2% in the Chicago metro area to 27,790 from 42,241 properties.

It was down only 4.3% in Chicago to 9,787 from 10,222 properties.

Is low inventory the biggest risk to the housing market?

Illinois home sales and prices climbed higher in August as inventory and interest rates hit historic lows [Illinois Association of Realtors Press Release, September 22, 2020]

This 4-bedroom townhouse in the Concord Lane Townhouses at 233 W. Concord Lane in Old Town came on the market in July 2020.

Built in 1979, the Concord Lane Townhouses has 20 townhouses with attached one-car garages along a private brick street protected by a security gate.

This townhouse has 10 foot ceilings on the main level with a living room, kitchen and dining room.

The living room has a wood burning fireplace.

The kitchen has wood cabinets, luxury stainless steel appliances and what looks like a white tile backsplash.

There’s an eating area with a table next to the kitchen as well as a small balcony where you can keep a grill.

The second level has a family room, an office nook and the primary bedroom suite which has a walk-in shower and double vanity.

The other three bedrooms are all on the third floor.

The listing says all the bathrooms were recently updated and a third full bath was added.

The lower level has a recreation room and the laundry room.

There’s no yard but there is a rooftop deck with planters and a pergola.

It has central air and a one-car attached garage.

The listing says it has “unparalleled security, safety and serenity in a gated community” in the heart of Old Town.

Gated communities and private lanes were popular in Old Town and the Gold Cast in the 1970s when crime was high.

Some of them, like this one, remain.

Are they going to make a come back?

Scott Green and Janet Owen at Berkshire Hathaway HomeServices have the listing. See the pictures here.

233 W. Concord Lane: 4 bedrooms, 3.5 baths, no square footage listed, townhouse

• Sold in August 1988 for $392,500
• Sold in July 2003 for $725,000
• Sold in July 2006 for $1,140,000
• Sold in August 2012 for $1,060,000
• Sold in April 2016 for $1,152,500
• Originally listed in July 2020 for $1,150,000
• Still listed at $1,150,000
• Assessments of $542 a month (includes security, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $19,942
• Central Air
• One car attached garage
• Wood burning fireplace
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 18×11 (third floor)
• Bedroom #3: 11×11 (third floor)
• Bedroom #4: 14×10 (third floor)
• Living/dining room: 21×20 (main floor)
• Kitchen: 20×11 (main floor)
• Family room: 20×17 (second floor)
• Recreation room: 16×15 (lower level)
• Laundry room: 19×17 (lower level)
• Balcony: 7×3 (main floor)
• Rooftop deck: 34×19

This 3-bedroom loft at 2950 W. Palmer Square in Logan Square came on the market in August 2020.

Built in 1909, this building has 8 units and outdoor courtyard parking.

This loft is a top floor unit with high concrete ceilings although it doesn’t have any exposed brick or beams.

The listing says there are refinished oak floors in the living/dining/kitchen combo.

The kitchen has light wood cabinets, a stainless steel refrigerator and dishwasher and a white stove, along with a kitchen island.

The listing says the third bedroom could be better used as a den/office as it has 2 walls of glass block.

One of the other bedrooms also has glass block.

It appears that two of the three bedrooms have reddish carpeting (?).

It has a large patio and a 20×15 storage room.

The property has a wood burning fireplace.

It also has all the features buyers look for including central air, washer/dryer in the unit and a gated parking space.

The listing says “Ready for your client’s customization.”

Listed at $425,000 in August, it has been reduced $15,000 to $410,000.

With its location directly on Palmer Square and just a few blocks to the California Blue Line stop, is this better than renting in hot Logan Square?

Richard Anselmo at @Properties has the listing. See the pictures and floor plan here.

Unit #2C: 3 bedrooms, 2 baths, 1607 square feet, loft

• Sold in September 1997 for $164,000
• Sold in May 2008 for $272,000
• Sold in April 2017 for $336,000
• Originally listed in August 2020 for $425,000
• Reduced
• Currently listed at $410,000 (gated parking included)
• Assessments of $443 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7973
• Central Air
• Washer/dryer in the unit
• Wood burning fireplace
• Bedroom #1: 13×12
• Bedroom #2: 12×10
• Bedroom #3: 12×8
• Living/dining room: 21×19
• Kitchen: 11×9
• Breakfast room: 12×8
• Balcony

This 2-bedroom loft in the Amhurst Lofts at 2600 N. Southport in Lincoln Park came on the market in September 2020.

Built in 1925, the Amhurst Lofts has 65 units and heated underground garage parking.

This loft has west and north facing industrial windows with 11 foot ceilings and exposed ductwork.

It doesn’t have any exposed brick or timbers like you usually find in industrial lofts, however.

But both bedrooms do have windows, which is rare for a loft.

The listing also says the bedrooms have soundproofed floor to ceiling walls.

The primary bedroom has a renovated bathroom with a walk-in shower.

The listing says the loft has a “chef’s kitchen” with a built-in pantry, granite counter tops and stainless steel appliances.

The loft has central air, washer/dryer in the unit and one heated underground parking space is included.

But the big selling point in the COVID era is the attached 12×40 private, fenced patio. It is big enough to entertain.

Listed at $675,000, will this big outdoor space produce a quick sale?

Scott Ward at Engel & Voelkers Chicago has the listing. See the pictures and floor plan here.

Unit #111: 2 bedrooms, 2 baths, no square footage listed, loft

• Sold in June 1991 for $258,500 (included the parking)
• Sold in June 1997 for $309,000 (included the parking)
• Sold in September 2002 for $420,000 (included the parking)
• Currently listed for $675,000 (includes a heated garage parking space)
• Assessments of $531 a month (includes parking, security, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9262
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 14×14
• Bedroom #2: 10×19
• Living room: 18×24
• Dining room: 18×16
• Kitchen: 18×10
• Laundry: 5×5
• Foyer: 12×6
• Patio: 12×40

This 2-bedroom duplex loft in the Ludwig Drum Factory at 1728 N. Damen in Bucktown came on the market in September 2020.

Built in 1967, the Ludwig Drum Factory has 43 lofts. I’m not sure if it has a garage but the listing says there is 1 heated garage space “connected to the building” also for sale.

Yet, it has 1 exterior parking in a secure off-street lot also included.

This unit has some authentic loft features including tall ceilings, exposed brick and ductwork.

The main floor includes the living room, dining room, kitchen and one of the bedrooms.

The listing says the kitchen is “updated.”

It has white cabinets, stainless steel appliances, granite counter tops with a breakfast bar and a tile backsplash.

There are French doors that lead to a balcony.

The main floor bedroom has the washer/dryer included and a large bath with a soaker tub and walk-in shower.

The second floor bedroom has blue carpet and a sitting room/office along with its own large bath with a large walk-in shower.

There are French doors that lead to the roof and the listing says the unit has roof rights.

It has central air.

The listing also says:

“Building’s roof has just recently been refinished and private roof decks and emergency exit walkways costs are currently being negotiated. Special Assessment cost can be discussed with Agent.”

Listed at $628,000, with 1800 square feet, this unit was also listed for rent over the summer.

What price will it take to get this loft sold?

Michael Vanderpoel at Berkshire Hathaway HomeServices has the listing. See the pictures here (sorry- no floor plan).

Unit #314: 2 bedrooms, 2 baths, 1800 square feet, duplex up

• Sold in March 1995 for $214,500
• Sold in April 1996 for $130,500 (included a parking space)
• Sold in February 1998 for $275,000 (included a parking space)
• Originally listed in September 2020 for $628,000
• Currently still listed at $628,000
• Assessments of $717 a month (includes gas, parking, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,993
• Central Air
• Washer/dryer in the unit
• 1 exterior parking in secure off-street lot included
• 1 heated garage space connected to the building is also for sale
• Was also available to rent listed in July 2020 for $4500 a month (per Zillow)
• Reduced
• Was listed in August 2020 for $3495 a month (per Zillow)
• Rental Withdrawn
• Fireplace
• Balcony
• Has roof rights
• Bedroom #1: 15×18 (second floor)
• Bedroom #2: 11×18 (main floor)
• Living room: 17×19 (main floor)
• Dining room: 8×17 (main floor)
• Kitchen: 10×14 (main floor)
• Office: 10×12 (second floor)

This 3-bedroom at 3823 N. Ashland in the Southport neighborhood of Lakeview came on the market in April 2020.

Built in 2007, it is an elevator building with 22 units and heated garage parking.

This unit is on the Northeast side of the building, so it doesn’t overlook Ashland.

There are hardwood floors throughout.

The primary suite has an organized walk-in-closet and an en suite bathroom with an oversized steam shower with double vanity.

The kitchen has been updated with grey cabinets, Viking appliances, a marble backsplash and white quartz counter tops with a waterfall edge on the breakfast bar. The cabinets have black hardware.

It has a 8×15 balcony off the living room.

The unit also has the features buyers are looking for including central air, side-by-side washer/dryer and a rare 2-car heated garage parking.

The listing says it’s in the Blaine school district.

But the listing also includes pictures of the “old” kitchen, which had the 2007-bubble era wood cabinets and granite counter tops so you can see the contrast.

Listed since April 2020 at $650,000, and now also, according to the listing, vacant, was the old kitchen holding back a sale of this property?

If your kitchen doesn’t have white quartz countertops, do you have to do renovations to sell?

Ken Jungwirth at @Properties has the listing. See the pictures here.

Unit #404: 3 bedrooms, 2 baths, no square footage listed

• Sold in March 2008 for $562,500
• Sold in June 2013 for $565,000
• Originally listed in April 2020 for $650,000
• Currently still listed at $650,000 (includes 2-heated garage parking spaces)
• Assessments of $429 a month (includes parking, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,588
• Central Air
• Side-by-side washer/dryer
• Bedroom #1: 16×14
• Bedroom #2: 14×12
• Bedroom #3: 14×10
• Living room: 20×12
• Dining room: 16×12
• Kitchen: 11×11
• Foyer: 15×5
• Laundry room: 7×3
• Balcony: 8×15

This 6-bedroom Italian villa at 1862 N. Dayton in Lincoln Park came on the market in September 2020.

This is a custom built home constructed on 2 lots in 2001-2003 by owners who loved Italy.

Dennis Rodkin at Crain’s recently interviewed the owners:

Most rooms are well lit by the sun, because while this house is, like many in Chicago, long and slender on its lot, it’s essentially turned sideways, with the broadest face of the house facing a similarly long and narrow side yard. The Curcios bought two neighboring houses, one in 2001 and the other in 2003, tore one down to make the side yard and renovated the other into the villa they have today.

The house has a 3-in-1 great room with a double-sized chef’s kitchen with breakfast bar and a billards room with an imported double sided stone fireplace.

Four of the six bedrooms are on the second floor, the fifth bedroom is on the third floor and the sixth in the lower level.

The primary suite has a fireplace, tiled balcony, 2 walk-in-closets and a Hydrology spa bath.

The lower level also has a media room and large exercise room.

Like a villa would have in Tuscany, there are several outdoor areas including a private front entry, a side yard with gardens, a covered stone patio off the main floor family room with a built-in gas grill, and a tiled balcony off the primary suite on the second floor.

But the piece de resistance has to be the rooftop patio which has an Italian inspired outdoor fireplace, perennial gardens and trees, a built-in grill, a steel pergola and a secondary kitchen all with skyline views.

The house has a heated 3-car garage and a carport.

According to Dennis Rodkin at Crain’s, with August seeing 10 sales of properties over $4 million in the Chicago metro area, above the average of 4 over the last 3 years, will this Italian-style home find a buyer quickly?

Anne Rossley at Baird & Warner has the listing. See the pictures here.

1862 N. Dayton: 6 bedrooms, 7 baths, 8231 square feet, single family home

• Lot #1 sold in May 2000 for $1.28 million
• Lot #2 sold in June 2003 for $900,000
• Currently listed at $4.9 million
• Taxes of $45,812
• Central Air
• 3 fireplaces
• 2 built-in grills
• Double lot of 50×125
• 3-car heated garage
• Bedroom #1: 19×17 (second floor)
• Bedroom #2: 19×12 (second floor)
• Bedroom #3: 12×21 (second floor)
• Bedroom #4: 16×11 (second floor)
• Bedroom #5: 22×17 (third floor)
• Bedroom #6: 16×11 (lower level)
• Living room: 19×17 (main floor)
• Dining room: 19×17 (main floor)
• Kitchen: 28×16 (main floor)
• Family room: 23×23 (main floor)
• Media room: 20×19 (lower level)
• Exercise room: 32×18 (lower level)
• Game room: 19×15 (main floor)
• Balcony: 22×7 (second floor)
• Roof top deck: 61×19 (third floor)

This 4-bedroom single family home at 1445 W. Cullom in the Graceland West neighborhood of Lakeview came on the market in February 2020.

We chattered about it in March 2020 just as the pandemic lockdown hit.

You might recall that it was built in 1901, on a wider than standard Chicago lot measuring 30×125.

But back in March, it had a basketball court in the backyard, and no garage. The sellers were offering a $10,000 credit in lieu of the garage.

We chattered about whether or not a garage would get the sale done.

See our chatter here.

The home has not sold and now it has been re-listed with a new 2.5-car garage.

According to the new listing it also has a new roof, new windows, 2 new furnaces and 2 new A/C compressors.

If you recall, it has had an addition added to the back which allows for 4 bedrooms on the second floor, including a primary suite with an attached bathroom and walk-in-closet which wasn’t, obviously, a common feature in homes in 1901.

The house still has what looks like some of the original woodwork on the main level and a wood burning fireplace with a gas starter.

But some of the pictures show virtual pictures with the woodwork painted white.

Does white trim make the home seem more modern?

The kitchen has white cabinets, what looks like granite counter tops and stainless steel appliances, along with an attached family room/eating area.

There’s also a recreation room in the lower level along with an office and, the listing says, a Martha Stewart quality laundry room.

It has central air and a patio off the back of the house along with a fenced in back yard.

Originally listed at $1,149,000, it has now been reduced $124,000 to $1,025,000.

The listing says its just a 1 1/2 block walk to the Sacred Heart bus pick-up and a “short walk” to the Lab school bus pick-up.

Will the garage now make the sale?

Marlene Granacki at Re/Max 10 Lincoln Park still has the listing. See the pictures here.

1445 W. Cullom: 4 bedrooms, 2.5 baths, no square footage listed

• Sold in June 1989 for $193,500
• Originally listed in February 2020 for $1,149,000
• Reduced
• Currently listed at $1,025,000
• Taxes are now $19,963 (they were $21,197 in June 2020)
• Central Air
• Wood burning fireplace
• New 2.5 car garage
• Bedroom #1: 21×15 (second floor)
• Bedroom #2: 12×12 (second floor)
• Bedroom #3: 12×12 (second floor)
• Bedroom #4: 10×9 (second floor)
• Living room: 17×12 (main floor)
• Dining room: 14×11 (main floor)
• Family room: 21×15 (main floor)
• Kitchen: 17×12 (main floor)
• Office: 14×9 (lower level)
• Library: 12×10 (main level)
• Recreation room: 18×16 (lower level)
• Walk-in-closet: 10×7 (second floor)

This 3-bedroom in the City Centre Club at 212 W. Washington in the Loop came on the market in September 2020.

Built in 1913, this building was originally the home of the Illinois Bell Telephone Company.

It was converted into 183 condo units in 2000. It’s a full service building with a doorman, fitness center, sundeck and parking garage.

This unit is a corner unit with South and West exposures.

The listing says it was “completely renovated” in 2019.

It has a new “Chef’s kitchen” with what look like gray cabinets, a pantry and wine bar, an island with quartz counter tops and stainless steel appliances.

All 3 bedrooms are fully enclosed. Two of them have windows but the third doesn’t appear to.

The primary bedroom has a walk-in closet and a spa-like en suite bathroom with white Carrera marble, an RH double vanity, brushed gold plumbing fixtures and a walk-in shower.

The second bathroom has black, white and wood farmhouse finishes.

The second bedroom has a built-in Murphy bed.

There’s a balcony off the living/dining room.

The unit has the finishes buyers look for including central air, washer/dryer in the unit and 2 side-by-side parking for $35,000 extra.

This property was last sold in January 2019. According to the listing:

“Built as a ‘forever home’ seller is being transferred–rare opportunity for a NEW home w high end finishes and w the potential to be fully furnished.”

Listed for $585,000 with the 2 parking spaces, is this a deal for a completely renovated 3-bedroom in this location?

Ann Bauer at @Properties has the listing. See the pictures here and floor plan here.

Unit #2004: 3 bedrooms, 2 baths, 1450 square feet

• Sold in January 2000 for $347,500
• Sold in April 2001 for $401,000
• Sold in September 2009 for $409,000
• Sold in June 2015 for $495,000
• Sold in January 2019 for $420,000 (included parking)
• Currently listed at $550,000 (2-car side-by-side parking for $35,000 extra)
• Assessments of $1100 a month (includes heat, gas, parking, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal
• Taxes of $7382
• Central Air
• Washer/dryer in the unit
• Balcony
• Bedroom #1: 12×14
• Bedroom #2: 11×14
• Bedroom #3: 10×13
• Living room: 24×18
• Kitchen: 19×8
• Foyer: 4×6
• Laundry: 4×6

This 2-bedroom loft in 22 N. Morgan in the West Loop came on the market in September 2020.

22 N. Morgan has somewhere between 22 and 26 lofts (as each of my posts has a different number. Lol) and outdoor parking with a central courtyard.

Although this listing says it has 1 garage parking space included so there may be some garage parking as well.

This is a second floor authentic loft with timber ceilings, exposed brick walls and exposed ductwork.

It has big industrial windows with east, west and south exposures.

The listing says it has designer lighting and ceiling fans.

It also says there is an “upgraded” kitchen with dark cabinets, an oversized island that seats 5, Subzero and Wolf appliances, and a wine cooler.

The loft has 2 wood burning fireplaces.

Both bedrooms have windows and full walls, which is rare for lofts.

If you’re looking for outdoor space, this loft has a large 30×31 private rooftop deck with several seating areas.

The loft has central air, washer/dryer in the unit and 1 garage parking space.

If you recall, we chattered about another large loft in this building in June 2020 with a similar rooftop deck which even had a hot tub.

It was listed at that time for $715,000.

I can’t find any sales price and it isn’t currently listed but you can read our chatter here.

Listed at $975,000, does the pandemic work-from-home phenomena change everything for the West Loop?

Owen Duffy at Fulton Grace Realty has the listing. See the pictures here (no floor plan).

Unit #212: 2 bedrooms, 2 baths, loft, 2400 square feet

• Sold in May 2000 for $401,000 (no parking listed)
• Sold in October 2007 for $555,000 (two parking spaces listed)
• Sold in July 2009 for $575,000 (one parking space listed)
• Currently listed for $975,000 (one car garage parking included)
• Assessments of $834 a month (includes parking, exterior maintenances, scavenger)
• Taxes of $15,658
• Central Air
• Washer/dryer in the unit
• 2 wood burning fireplaces
• Bedroom #1: 12×14
• Bedroom #2: 17×14
• Living/dining: 20×23
• Family room: 14×20
• Kitchen: 10×13
• Sitting Room: 14×20
• Pantry: 3×10
• Storage: 15×6 (second floor)
• Deck: 30×31 (second floor)