Crib Chatter

This 3-bedroom penthouse at 508 W. Melrose in East Lakeview came on the market in July 2020.

Built in 2004, this boutique building has 22 units and a heated parking garage. It also has an elevator and a fitness room.

This penthouse has 3491 square feet, which makes it as large as many single family homes, which is all on one level.

It has hardwood floors throughout and 2 wood burning fireplaces.

There are 4 skylights.

The unit has a custom built entertainment center with speakers.

The kitchen is described as a “Chef’s kitchen” with a large island with seating for 4, Thermador appliances with a wine cooler and a tiled backsplash.

There’s a large library and a bonus room that could be a private office.

The master suite has an attached bath with a duel vanity and walk-in-shower.

The other two bedrooms also have en suite baths.

There’s 2 terraces and the large front terrace has a gas line.

It has all the features buyers look for including central air, side-by-side washer/dryer, and two heated garage parking spaces that are included.

This building is in the middle of all that East Lakeview has to offer and is in Nettlehorst school district.

Originally listed in July 2020 for $1.475 million, it has been reduced $90,000 to $1.385 million.

For the square footage and amenities, is this a deal?

Steven Sims at @Properties has the listing. See the pictures here.

Unit #7B: 3 bedrooms, 4 baths, 3491 square feet

• Sold in April 2005 for $1.466 million
• Sold in May 2011 for $1,011,500
• Looks like it sold in 2018 (I couldn’t find a price)
• Originally listed in July 2020 for $1.475 million
• Reduced
• Currently listed at $1.385 million
• Assessments aren’t listed (anyone know?)
• Taxes of $23,964
• Central Air
• Washer/dryer in the unit
• 2 car heated garage parking included
• 2 wood burning fireplaces
• 2 terraces
• Bedroom #1: 17×17
• Bedroom #2: 15×13
• Bedroom #3: 15×12
• Library: 15×12
• Office: 10×9
• Living room: 33×16
• Dining room: 14×11
• Kitchen: 22×14
• Laundry room: 7×5

This 2-bedroom loft in the Clocktower Lofts at 2300 W. Wabansia in Bucktown came on the market in July 2020.

The Clocktower Lofts was converted into lofts in 1996 and has 113 units, a garage, an exercise room and a rooftop deck.

This loft has authentic loft features including timber ceilings, exposed brick walls and big, industrial windows.

This is a corner unit which has sliding glass doors which lead to a private, fenced patio in the courtyard of the building with mature trees and greenery.

One bedroom overlooks the patio but the other bedroom appears to have no windows.

The kitchen has white cabinets with an island breakfast bar, stainless steel appliances and granite counter tops.

There’s a gas fireplace in the living room and diagonal hardwood floors.

The loft has the features buyers look for including central air, washer/dryer in the unit and garage parking, which is included in the price.

Originally listed in July 2020 for $449,900, it has been reduced $25,000 to $424,900.

The Clocktower Lofts is a popular loft building with unique lofts. This is the only unit currently for sale in the building.

Will the private patio get this loft sold this summer?

Michelle Liffick at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #127: 2 bedrooms, 1.5 baths, no square footage listed, loft

• Sold in January 1997 for $135,500
• Sold in April 1999 for $193,000
• Sold in August 2003 for $290,000
• Sold in April 2012 for $285,000
• Sold in June 2017 for $391,500
• Originally listed in July 2020 for $449,900
• Reduced
• Currently listed at $424,900
• Assessments of $397 a month (includes cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $6264
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Gas fireplace
• Bedroom #1: 15×11
• Bedroom #2: 17×11
• Living room: 18×16
• Kitchen: 18×10
• Deck: 17×14

This 3-bedroom corner penthouse at 40 N. Carpenter in the West Loop came on the market in July 2020.

The building was constructed in 2018 and has 40 units and a parking garage.

It’s an elevator building and there’s a private elevator to this penthouse unit.

The listing says this is the largest unit in the building at 2321 square feet.

The listing also says the unit was bought as raw space and customized.

It has an open concept kitchen, living and dining room with a built-in bar with 3 Subzero wine and beverage refrigerators.

The kitchen has custom blue, white and wood cabinets, a Subzero refrigerator, Wolf 6-burner stove and Bosch dishwasher, with quartz counter tops and a tile backsplash.

There’s a balcony off the main living space.

The master bedroom has its own private balcony, en suite bathroom with dual vanity and walk-in shower along with heated floors, motorized window shades and an attached office.

The listing says one of the bedrooms is being used as an exercise room.

It has the other features that buyers look for including central air, washer/dryer in the unit and 2-car garage parking.

But the big selling point, especially after the COVID lockdown, is the built-out private rooftop deck which the listing says is the largest in the building.

It has an automated pergola, custom cabinetry, a Lynx grill, a gas fire pit and a water feature.

(Question- how do you get up to the deck? Do you have to take the elevator? There’s no floor plan with the listing.)

Currently listed at $1.69 million, that is $471,500 above the 2018 selling price of $1,218,500.

Is the West Loop luxury market still so hot that this penthouse will sell within the first week on the market?

Lauren Mitrick Wood at Compass has the listing. See the pictures here.

Unit #PHN: 3 bedrooms, 3 baths, 2321 square feet

• Sold in April 2018 for $1,218,500
• Originally listed in July 2020 for $1.69 million (plus 2-car garage parking)
• Currently still listed at $1.69 million
• Assessments of $571 a month (includes gas, exterior maintenance and snow removal)
• Taxes of $25,177
• Central Air
• Washer/dryer in the unit
• 3 outdoor spaces
• Bedroom #1: 17×14
• Bedroom #2: 11×13
• Bedroom #3: 12×11
• Living room: 16×21
• Dining room: 11×14
• Kitchen: 9×16
• Office: 9×8
• Media Room: 11×11

This 2-bedroom loft in the Gaertner Building at 1201 W. Wrightwood in Lincoln Park came on the market in July 2020.

Built in 1926, the Gaertner Building has 24 lofts and attached garage parking. An elevator building, it was converted into condos in 2002.

This loft has exposed brick and ductwork with an open concept living/dining and kitchen.

The kitchen has white and gray cabinets, a breakfast bar, stainless steel appliances and granite counter tops.

There’s a master suite with a walk-in-closet and a master bathroom with dual vanity and walk-in shower.

However, it appears that neither bedroom has windows.

It has the features buyers look for including central air, washer/dryer in the unit and coveted 2-car heated garage parking which is included.

But for those looking for outdoor space during the pandemic, this loft actually has a private fenced in patio with new pavers and bar space.

Will the patio make the sale?

Courtney Welsch at Baird & Warner has the listing. See the pictures here.

Or see it at the Open House on Saturday, August 1 from 12- 2PM.

Unit #9: 2 bedrooms, 2 baths, 1557 square feet, loft

• Sold in April 2002 for $435,000
• Sold in May 2007 for $500,000
• Sold in June 2012 for $430,000
• Currently listed for $585,000 (includes 2 car garage parking)
• Assessments of $441 a month (includes exterior maintenance, scavenger and snow removal)
• Taxes of $11,209
• Central Air
• Washer/dryer in the unit
• Private patio
• Bedroom #1: 16×12
• Bedroom #2: 16×11
• Living room/dining room: 27×16
• Kitchen: 12×12
• Foyer: 13×7

This 3-bedroom coach house in 119 W. Chestnut in the Gold Coast came on the market in July 2020.

Built in 1920, there are 9 units but this is the 3-story coach house in the back.

The listing says it has both front and back entrances.

The living room, which has soaring ceilings, is on the second floor, along with the dining room, kitchen and a powder room.

The kitchen has been remodeled and has contemporary cabinets, stainless steel appliances and a large kitchen island with seating and what look like stone counter tops.

All three bedrooms are on the third floor, including the remodeled master suite which has a walk-in-closet and an en suite bath with heated floors, dual vanities, and spa-like marble shower.

The fourth floor has a private roof deck with city views, although you also have access to the front building’s shared rooftop deck, also with city views.

There’s a first floor family room and full bath, along with basement storage and a mudroom.

The coach house has central air.

But one of the most unique features is the amount of parking the property has.

The listing says it has an attached 2-car garage and 2 tandem outdoor parking spaces for 4-car parking.

Listed at $1.049 million, with 3603 square feet, is this a good townhouse alternative?

Nancy Tassone at Jameson Sotheby’s has the listing. See the pictures here (sorry, no floor plan).

Unit #5: 3 bedrooms, 3.5 baths, 3603 square feet, coach house

• Sold in January 1987 (no price)
• Sold in November 2012 for $885,000
• Currently listed at $1.049 million
• Assessments of $785 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $16,501
• Central Air
• 2-car attached garage
• 2 tandem outdoor parking spaces
• 2 fireplaces
• Bedroom #1: 13×21 (third floor)
• Bedroom #2: 10×12 (third floor)
• Bedroom #3: 10×13 (third floor)
• Living room: 21×14 (second floor)
• Dining room: 11×19 (second floor)
• Kitchen: 10×16 (second floor)
• Family room: 21×15 (main floor)
• Storage: 19×18 (lower level)
• Deck: 14×22 (fourth floor)

This 1-bedroom in the Greenbrier at 559 W. Surf in East Lakeview came on the market in July 2020.

Built in 1904, the building has 78 units and a doorman.

This one bedroom has many of its historic features including wood paneling, moldings, what looks like a built-in bookcase and boxed ceilings in the living room.

It has a “chef’s kitchen” with what look like custom wood cabinets that match the color of the historic woodwork in the living room. It also has luxury appliances including a Wolf range, Subzero refrigerator, Bosch dishwasher and soapstone counter tops.

There are hardwood floors throughout.

It has a marble bathroom with a walk-in shower.

The unit has the features buyers look for including central air and washer/dryer in the unit. There’s no parking, however rental parking is available in the neighborhood.

This property went under contract within 5 days when it first came on the market. It has been re-listed.

With mortgage rates at record lows, does it make sense to buy a 1-bedroom now?

Susan Morrow at Baird & Warner has the listing. See the pictures here.

Unit #406: 1 bedroom, 1 bath, 950 square feet

• Sold in November 1991 for $86,000
• Sold in October 1995 for $110,000
• Sold in October 2007 for $235,000
• Originally listed in July 2020 for $264,999
• Was under contract
• Re-listed at $264,999
• Assessments of $456 a month (includes doorman, cable, exterior maintenance, scavenger, snow removal)
• Taxes of $4436
• Central Air
• Washer/dryer in the unit
• No parking
• Bedroom: 13×12
• Living room: 18×16
• Kitchen: 16×14

This 2-bedroom in No. 9 Walton at 9 W. Walton in the Gold Coast came on the market in July 2020.

Built in 2017, this building has 66 units on 37 floors and an attached parking garage which is valet.

It is a full service building with doormen, a 2-story exercise room, indoor pool, sauna, steam room and 2 guest suites.

The building sold out quickly to a who’s who of Chicago including sports stars and billionaires. Several units have been flipped for a profit.

This is the first resale of this low floor 2-bedroom unit.

It has north and west views with 10-12 foot ceilings.

There are espresso stained walnut floors throughout with an open concept living/dining and kitchen.

The listing says it has an O’Brien/Harris kitchen with Bulthaup white cabinetry and Subzero, Wolf, and La Cornue appliances.

All bathrooms have heated floors.

But the star of the unit is the 1000 square foot private terrace that is on the west side of the unit. The brick wall next to the terrace appears to be the church next door.

The terrace has a hot tub, built-in seating and a separate grilling area.

The unit has central air, washer/dryer in the unit and one car valet parking is included.

Listed at $2.559 million, that is $209,000 above the 2018 sales price of $2.35 million.

Will it get the premium?

Eileen Brennan at Baird & Warner has the listing. See the pictures here.

Unit #404: 2 bedrooms, 3 baths, 1950 square feet

• Sold in September 2018 for $2.35 million
• Originally listed in July 2020 for $2.559 million
• Currently still listed at $2.559 million (includes one car valet parking)
• Assessments of $1213 a month (includes heat, a/c, doorman, exercise room, indoor pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $37,786
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 16×12
• Bedroom #2: 16×10
• Study: 12×10
• Living room: 17×13
• Dining room: 16×9
• Kitchen: 20×13
• Laundry room: 10×6
• Terrace: 49×19

This 3-bedroom Victorian single family home at 1836 N. Lincoln Park West in Old Town came on the market in July 2020.

Built in 1872 for Charles Wacker (yes- THAT Wacker), it is on an irregular shaped lot measuring 27x125x27x102.

If the house looks familiar, that’s because we chattered about it in 2013, when it was “restored to perfection.”

See our chatter here where many of you were big fans of the restoration.

Back then the house was listed as being on a 28×110 lot.

If you’re a vintage lover, there’s a lot to love including moldings, shutters, the wood staircase and stained glass around the front door. The 2013 listing says its Tiffany stained glass.

It has the preferred single family home layout with all three bedrooms located on the second floor.

There’s an actual master suite with a bathroom and walk-in-closet, which is rare for a vintage house.

Strangely, in the 2013 listing this house was 2.5 baths and now is just 2 baths. Where did the half bath go?

The kitchen is the same kitchen from the 2013 listing with modern brown cabinets, a large island and stainless steel appliances.

The lower level has a recreation room and storage.

The house has a brick landscaped courtyard that leads to a 1-car garage.

It also has central air.

Originally listed in July 2020 for $1.895 million, it quickly reduced $200,000 to $1.695 million.

The house is on one of the most popular Old Town triangle streets and is just a few blocks away from the restaurants and shops of Old Town.

Is this the perfect vintage home?

Joanne Nemerovski at Compass has the listing. See the pictures here.

1836 N. Lincoln Park West: 3 bedrooms, 2 baths (but was 2.5 in 2013), no square footage listed, 1 car garage

• Sold in July 2008 “as-is” for $950,000
• Sold in November 2013 for $1.522 million
• Sold in June 2015 for $1.588 million
• Originally listed in July 2020 for $1.895 million
• Reduced
• Currently listed at $1.695 million
• Taxes are now $28,159 (they were $15,333 in 2013)
• Central Air
• Gas fireplace
• Bedroom #1: 17×13 (second floor)
• Bedroom #2: 13×12 (second floor)
• Bedroom #3: 14×9 (second floor)
• Kitchen: 19×17 (main floor)
• Living room: 23×12 (main floor)
• Dining room: 16×9 (main floor)
• Family room: 16×13 (main floor)
• Recreation room: 17×16 (lower level)

This contemporary 4-bedroom single family home at 2138 N. Racine in Lincoln Park originally came on the market in July 2019.

Built in 1992, it’s on a standard 25×125 lot and has an attached 2-car garage.

The listing says it has been rehabbed including the kitchen which has modern Poggenpohl cabinets, Carrara marble counter tops and backsplash and all new Miele appliances.

It has new 6″ plank red oak hardwood floors with a blonde stain that has that California aesthetic.

The master suite has a “brand new” master bathroom with heated floors, walk-in rain and steam shower, skylights, and a Porcelanosa vanity and bath.

It has Sonos audio throughout.

One of its most unique features is the soaring atrium spaces, including the interior courtyard, which even has landscaping.

There’s also a second terrace on the second floor (looks like it’s over the garage.)

The house has central air.

Originally listed at $1.999 million a year ago, in July 2019, it has been reduced to $1.895 million.

For fans of contemporary styling, is this a breath of fresh air in the Lincoln Park neighborhood which is known for its vintage homes?

Michael Rappel at R. Hawthorne Group has the listing. See the pictures here.

2138 N. Racine: 4 bedrooms, 4.5 baths, no square footage listed, single family home

• Sold in June 1991 for $265,000 (just the lot?- as the house was built in 1992)
• Sold in January 2004 for $1.475 million
• Sold in June 2013 for $1.475 million
• Originally listed in July 2019 for $1.999 million
• Reduced
• Withdrawn in March 2020 listed at $1.949 million
• Re-listed after the COVID reopening in May 2020 for $1.925 million
• Currently listed at $1.895 million
• Central Air
• Taxes of $41,600
• 2-car attached garage
• Bedroom #1: 15×25 (second floor)
• Bedroom #2: 18×12 (second floor)
• Bedroom #3: 13×12 (third floor)
• Bedroom #4: 13×13 (main floor)
• Living room: 23×23 (main floor)
• Dining room: 14×10 (main floor)
• Kitchen: 18×20 (main floor)
• Office: 9×8 (second floor)
• Laundry room: 10×8 (main floor)
• Deck: 15×14 (second floor)
• Terrace: 19×8 (main floor)

The June housing data is out.

Sales were the lowest since 2011, which was near the bottom of the housing bust.

Reminder these closings would have been properties under contract in March, April and May, which was during the coronavirus shutdown.

The city of Chicago saw year-over-year home sales decrease 29.1 percent with 2,020 sales in June, compared to 2,850 a year ago. The median price of a home in the city of Chicago in June was $329,500, up 3.3 percent from June 2019.

Thanks to G for the historical sales data:

• June 1997: 1,817
• June 1998:  2,214
• June 1999:  2,435
• June 2000: 2,513
• June 2001: 2,451
• June 2002: 2,590
• June 2003: 2,891
• June 2004: 3,752
• June 2005: 3,850
• June 2006: 3,557
• June 2007: 3,127
• June 2008: 2282
• June 2009: 1981
• June 2010: 2526 (tax credit sales)
• June 2011: 1841
• June 2012: 2246
• June 2013: 2729
• June 2014: 2846
• June 2015: 3202
• June 2016: 3321
• June 2017: 3380
• June 2018: 3191
• June 2019: 2850
• June 2020: 2020

Here is the monthly median price data:

• June 2008: $309,945
• June 2009: $242,050
• June 2010: $234,250
• June 2011: $207,000
• June 2012: $216,700
• June 2013: $254,900
• June 2014: $275,000
• June 2015: $288,250
• June 2016: $299,900
• June 2017: $306,750
• June 2018: $314,900
• June 2019: $319,000
• June 2020: $329,500

“As we began the reopening process of our city in June, we saw the market respond accordingly,” said Maurice Hampton, president of the Chicago Association of REALTORS® and owner of Centered International Realty. “Although there was a 29.1 percent decline in sales, it was a big improvement from May, and prices continue to hold steady. The 20.2 percent decline in inventory definitely plays into these sales declines, as more options lead to more opportunities for homebuyers.”

The average 30-year mortgage rate fell to 3.16% from 3.23%  in May 2020 and was down from 3.8% in June 2019.

That is the cycle low, so far, for average mortgage rates.

“The Illinois and Chicago housing markets both recorded positive month-to-month increases in sales, although declines on a yearly basis,” said Geoffrey J.D. Hewings, emeritus director of the Regional Economics Applications Laboratory at the University of Illinois. “The Illinois market recorded the second consecutive month of price decreases while the Chicago market maintained very modest price growth. The declines are expected to continue in Illinois, but the changes will be very close to zero in Chicago over the next three months.”

Inventory remained low both in Chicago and statewide.

Chicago inventory fell 20.2% to 8,216 from 10,290.

Some realtors are blaming some of the drop in sales in June to lack of inventory, i.e. there’s nothing for buyers to actually buy.

Is inventory still the problem?

June brings renewed housing demand as Illinois reopens; low housing inventory still an issue [Illinois Association of Realtors, Press Release, July 22, 2020]