Crib Chatter

This 2-bedroom corner unit at 1700 E. 56th in Hyde Park came on the market in July 2019.

Built in 1968, it has 369 units and garage parking. It’s a full amenity building with a roof top deck, exercise room, doorman, dry cleaners and bike storage.

This southwest corner unit on the 26th floor has unobstructed views of the Lake and Jackson Park, including the Museum of Science and Industry.

It has been remodeled.

The kitchen has gray cabinets, a natural stone counter top, custom tile backsplash, a breakfast bar, stainless steel appliances with a range hood and a wine refrigerator.

Both bathrooms were remodeled with new tile floors and marble shower surrounds.

It has a walk-in closet.

The listing says the seller has paid the special assessment for new windows.

It has central air, garage parking is included but there’s no in-unit laundry. There’s a laundry room in the building.

Buyers love remodeled units.

Will this move-in ready unit sell quickly?

Michael Frank at Keller Williams Preferred has the listing. See the pictures and floor plan here.

Unit #2608: 2 bedrooms, 2 baths, 1250 square feet

• Sold in September 1994 for $111,000
• Lis pendens foreclosure filed in June 2015
• Bank owned in 2016
• Sold in October 2016 but no price was listed
• Originally listed in July 2019 for $318,000
• Assessments of $1074 a month (includes heat, a/c, parking, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $3351
• Central Air
• No washer/dryer in the unit. There’s a laundry room in the building.
• Parking included
• Bedroom #1: 19×12
• Bedroom #2: 13×11
• Living room: 19×18
• Dining room: 15×9
• Kitchen: 10×9
• Walk-in-closet: 7×6

This 5-bedroom vintage row house at 5735 S. Dorchester in Hyde Park came on the market in September 2018.

It is the row house on the left in the picture above.

Built in 1887, it is on a larger than standard lot of 24×151.

It has many of its original vintage features including 10-foot ceilings, crown moldings, pocket doors, hardwood floors throughout and 3 fireplaces, including one in the master bedroom and one in the living room which is wood burning and still has the original mantle complete with Dutch tiles.

The listing says the windows have been replaced with new Marvin windows.

There is also central air.

The kitchen has white cabinets, butcher block counter tops, a Subzero refrigerator, Dacor stove and a Bosch dishwasher.

There’s a small back deck and a lush backyard with lilacs and roses but there’s no garage or parking.

Originally listed in September 2018 for $1.1 million, it has been reduced $105,000 to $995,000.

Within just a few blocks of the University, the 57th street Metra stop and restaurants, is this property a Hyde Park classic?

Elizabeth Cook at @Properties has the listing. See the pictures and floor plan here.

5735 S. Dorchester: 5 bedrooms, 3 baths, 2380 square feet, row house

• Sold in March 1996 for $175,500
• Sold in August 1997 for $412,000
• Originally listed in September 2018 for $1.1 million
• Reduced
• Currently listed at $995,000
• Taxes of $9774
• No HOA even though its attached to another property
• 3 fireplaces including a wood burning fireplace in the living room
• Central Air
• No parking
• Bedroom #1: 17×13 (second floor)
• Bedroom #2: 14×12 (second floor)
• Bedroom #3: 14×12 (second floor)
• Bedroom #4: 15×14 (third floor)
• Bedroom #5: 14×10 (third floor)

This 7 bedroom historic home at 5132 S. Woodlawn in Hyde Park came on the market in May 2019.

Built in 1897, it was designed by Frank Lloyd Wright for Isidore Heller.

To be honest, until I saw the plaque in front of the house, I couldn’t tell from the style it was a Wright because those arches and carvings up at the top threw me off.

Built on a larger than standard 75×175 lot, it has a 2-car garage and an in-law or au pair/nanny apartment with a full kitchen.

It also appears to have the original hitching posts in front of the house (or its something similar, see the picture).

The listing says the house has been renovated several times over the years but it still sports the original elevator which was renovated per the instructions left by Wright for the original owners.

It has extensive woodwork and built-ins and a 2-story wall of art-glass.

The kitchen has wood cabinets and stainless steel appliances as well as four pantries.

There are also four fireplaces.

The house has 3 full baths and 2 half baths and a partially finished basement.

The listing says that the central air was extended throughout the house 2 years ago.

It’s not easy selling Frank Lloyd Wright homes, no matter what neighborhood or condition.

Is the market hot enough to attract a buyer to this historic residence?

Pamela Linn at Compass has the listing. See the pictures here.

5132 S. Woodlawn: 7 bedrooms, 3 full baths, 2 half baths, 6100 square feet, 2 car garage

• Sold in February 1995 for $595,000
• Sold in August 2004 for $1.8 million
• Originally listed in May 2019 for $2.2 million
• Currently still listed at $2.2 million
• Taxes of $32,301
• Central Air
• 4 fireplaces
• 75×175 lot
• In-law apartment with second kitchen
• Bedroom #1: 24×15 (second floor)
• Bedroom #2: 13×13 (second floor)
• Bedroom #3: 15×16 (second floor)
• Bedroom #4: 18×14 (second floor)
• Bedroom #5: 8×10 (second floor)
• Bedroom #6: 9×11 (third floor)
• Bedroom #7: 8×15 (third floor)
• Family room: 34×14 (third floor)
• Laundry room: 8×11 (main floor)

Hyde Park, home to the world-renowned University of Chicago, and the Museum of Science of Industry, is often an after thought by most people moving to Chicago.

But the neighborhood is starting to build momentum as real estate investors have been renovating and building new apartment buildings.

Meanwhile, more amenities are starting to move in.

The neighborhood got a Whole Foods in 2016, which was so anticipated it produced lines with 40 minute waits the first week it opened.

The long-time Treasure Island, however, has closed but Trader Joe’s announced it would bring a new store to the same location. It will be the first Trader Joe’s in that part of the city.

It has a restaurant on lists of the Top Restaurants in Chicago in 2019 in Virtue and it has a hot new hotel, The Sophy.

The neighborhood has also seen a renovation of some of its big, vintage buildings into luxury apartments in East Hyde Park.

The Shoreland Apartments has been restored to its former glory. Built in the 1920s, it was put on the National Historic Register in 1986.

It overlooks a park and the lake front. It’s apparently popular with University of Chicago graduate students, including law and medical students.

Rents are high but not as high as some other buildings in the neighborhood.

• Studios from $1270 a month
• 1-Bedrooms from $1337 a month
• 2-Bedrooms from $1836 a month
• 3-Bedrooms from $3575 a month

They have 9-foot ceilings and updated finishes including granite counter tops and stainless steel appliances in the kitchens and washer/dryers in the unit.

There’s also new construction in East Hyde Park.

Mac Properties, which converted the Shoreland, is building 5252 at 5252 S. Cornell.

Rents are at the “luxury” price point.

• 1-Bedrooms at $2500 a month
• 2-Bedrooms from $3250-$3530 a month

Move-ins are expected this fall.

And then there is the Jeanne Gang, from Studio Gang, designed Solstice on the Park, at 1616 E. 56th.

It overlooks the Museum of Science and Industry.

Rents are also at the “luxury” price point.

• 1-Bedrooms from $2300 a month (for 718 square feet)
• 2-Bedrooms from $3450 to $4295
• 3-Bedrooms from $5195 to $5350

The website shows 16 apartments available out of 250 in the building.

With the Barack Obama Presidential Center still expected to go into Jackson Park, is Hyde Park about to break out from its long slumber?

This 3-bedroom Victorian row house at 1730 N. Wells in Old Town came on the market in July 2019 (it’s the one on the right).

If it looks familiar, that’s because we chattered about it the last time it was on the market in 2013 when the discussion was whether your 5 year old could walk from this property to the Latin School or whether they would have be driven or taken in a stroller.

Lol.

See our chatter here.

The row house has had some renovation since the 2013 sale, however.

Built in 1876, it now has 2900 square feet on a 22×42 lot. In 2013 it had 2050 square feet but listing notes say the 2-story living room was covered over adding square footage and the basement was finished.

You can look at the “before” pictures on Redfin if you have an account. See them here.

They created a large den on the second floor by closing off that strange 2-story living room.

It has many of its original features including crown molding, wood trim, stained glass and built-ins as well as a wood burning fireplace.

It has a finished lower level family room that in 2013 was partially finished but had concrete floors. The current family room has carpeting and a wood beam on the ceiling.

The kitchen now has white cabinets, stone counter tops and stainless steel appliances, whereas in the 2013 listing it had wood cabinets and white appliances and counter tops.

Two of the three bedrooms are on the third floor with the third on the second level.

It has a small back deck.

There’s no parking but the row house does have central air and a lower level laundry room.

This is in the heart of Old Town, near shops and restaurants but now that the Treasure Island has closed, it’s no longer near a supermarket.

It came on the market at $1.145 million but has already reduced to $1.099 million.

With new duplex downs now getting over $1 million in some neighborhoods, is this a deal for a vintage row house?

Lori White at Home TRG has the listing. See the pictures here.

1730 N. Wells: 3 bedrooms, 3 baths, 2900 square feet

• Sold in April 1988 for $256,000
• Sold in September 1994 for $335,000
• Sold in July 1999 for $512,000
• Sold in August 2013 for $821,000
• Originally listed in July 2019 for $1.145 million
• Reduced
• Currently listed at $1.099 million
• Taxes are now $16,063 (they were $11,498 in 2013)
• Central Air
• No parking
• Wood burning fireplace
• Bedroom #1: 14×12 (third floor)
• Bedroom #2: 11×11 (third floor)
• Bedroom #3: 11×11 (second floor)
• Family room: 16×19 (lower level)
• Den: 12×28 (second floor)
• Laundry room: 10×8 (lower level)

This 2-flat at 1732 N. Hudson in Old Town came on the market in January 2019.

Built in 1876, there’s a 3-bedroom duplex up unit on the second and third floor and a 1-bedroom apartment on the first floor.

The listing says there’s been a “complete renovation” of the building.

The 3-bedroom duplex up “owner’s unit” has a living room with custom built-ins.

The kitchen has white cabinets, granite counter tops and GE Café series stainless steel appliances.

All three bedrooms are on the second floor, including the master suite which has its own attached bath.

The 1-bedroom apartment has what looks like concrete floors.

The kitchen has dark cabinets, stone counter tops and stainless steel appliances.

Both units have central air and, it appears, washer/dryers (the duplex up definitely shows one on the floor plan.)

There’s no parking but the listing says there is “EXTREMELY easy street parking (due to the one way streets).”

Originally listed in January 2019 for $1,495,000, it has been reduced to $1,399,000.

No rents are listed in the public listing.

Do 2-flats still make sense for owners to buy one and rent out the other?

Colin Hebson at Dream Town has the listing. See the pictures and floor plan here.

1732 N. Hudson: 2-flat, 4 bedrooms, 3.5 baths

• Sold in December 1999 for $450,000
• Sold in July 2008 for $615,000
• Sold in October 2015 for $1,237,500
• Originally listed in January 2019 for $1,495,000
• Reduced
• Currently listed at $1,399,000
• Taxes of $13,113
• Unit #1: 1 bedroom, 1 bath (first floor)
• Unit #2: 3 bedrooms, 2.5 baths (second/third floors)
• Central Air
• Washer/dryer in each unit
• No parking
• No rents listed

This 3-bedroom in The Sterling at 345 N. LaSalle in River North came on the market in May 2019.

The Sterling was built in 2001 as apartments before it was quickly converted into condos due to the condo craze that was going on at the time.

It has 389 units, an outdoor pool, and an attached rental parking garage.

Many of the units were sold in their original apartment condition, including with carpeting as that was common in apartments at that time.

If you bought a unit above the 20th floor you could buy the “upgrade” package for the kitchen which included granite counter tops. (These were the “view” units and were priced higher than the lower floors.)

This 3-bedroom is on the 39th floor.

It has an unusual feature as it has marble floors in the living/dining room, the kitchen and in the third bedroom.

There is carpet in the other two bedrooms.

The listing describes the master bathroom as “luxury” with a steam shower and double vanity.

It has the features buyers look for including central air, washer/dryer in the unit and parking in the attached rental garage for $289 a month.

It also has unobstructed city views with north, east and south exposures.

This is being sold by the original owner who bought in 2002 at $642,500.

It is currently listed at $730,000.

The Sterling was one of the hardest hit by foreclosures during the housing bust because so many investors owned in it.

As long as you held on through the bust, have long-term owners been okay in the end owning a River North condo?

Darya Lisserman at Jameson Sotheby’s has the listing. See the pictures here.

Unit #3702: 3 bedrooms, 2 baths, 1630 square feet

• Sold in December 2002 for $642,500
• Originally listed in May 2019 for $739,999
• Reduced
• Currently listed at $730,000
• Assessments of $957 a month (includes heat, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9709
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 20×13
• Bedroom #2: 12×12
• Bedroom #3: 12×11
• Kitchen: 10×8
• Living room: 18×16

This 3-bedroom in a historic greystone at 3618 N. Fremont in the Wrigleyville neighborhood of Lakeview came on the market in May 2019.

I don’t have a direct picture of this building but I remembered the building next door- so in the picture above- it is the building you can just barely see on the left (sorry- I don’t have a direct picture of this building in all its vintage glory. I will get one.) Yes- bear with me on this one. Lol.

It doesn’t list the year it was built but an older listing in the building says it was 1920. It has 3 units and garage parking in the back.

There are many gorgeous vintage buildings on this block of Fremont.

This middle unit has most of its vintage features still intact including unpainted crown and window moldings, pocket doors and bathroom transoms that are still operable.

It looks like there’s an original window in the living room with stained glass and there’s a wood burning fireplace in the living room.

Also, there’s a unique built-in hutch which looks like those usually found in dining rooms, but it’s in the master bedroom here.

The kitchen has wood cabinets, granite counter tops and stainless steel appliances along with a breakfast bar which overlooks the dining area.

There’s a double vanity in one bathroom and a single vanity with a walk-in shower in the second.

It has in-unit washer/dryer, garage parking but it doesn’t have central air. It has what looks like some sort of space pac (you can see the air units on the walls.)

As the listing notes, Wrigleyville has changed a lot over the last few years.

There are now upscale restaurants, a movie theater, a hotel and luxury apartments just blocks away.

Will all the developments enhance property values in the neighborhood?

Sam Cusentino at @Properties has the listing. See the pictures here.

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

• Sold in September 1990 for $195,000
• Sold in August 1996 for $229,000
• Sold in August 2004 for $385,000
• Sold in September 2009 for $421,000
• Sold in March 2013 for $395,000
• Sold in April 2018 for $516,500
• Originally listed in May 2019 for $524,888
• Reduced
• Currently listed at $519,900
• Assessments of $410 a month (includes heat, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $8836
• No central air (looks like wall units of some kind)
• Washer/dryer in the unit
• Garage parking
• Wood burning fireplace
• Bedroom #1: 20×16
• Bedroom #2: 12×11
• Bedroom #3: 10×9
• Living room: 19×12
• Family room: 19×14
• Dining room: 10×14
• Kitchen: 21×13
• Balcony: 8×4

The Chicago housing market continues to struggle despite the strong economy.

From the Illinois Association of Realtors:

The city of Chicago saw year-over-year home sales decrease 13.3 percent with 2,766 sales in June, compared to 3,191 a year ago. The median price of a home in the city of Chicago in June was $319,900 up 1.6 percent compared to June 2018 when it was $314,900.

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: 2766

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: $319,900

“We can’t escape the topic of tax increases right now, and prospective buyers are paying attention,” said Tommy Choi, president of the Chicago Association of REALTORS® and broker at Keller Williams Chicago – Lincoln Park. “High assessments in the north, and tax increases expected in 2021, has made some leery. Still, the summer proves to be an active time for the Chicago housing market. For buyers, rates remain low and market time and inventory has increased, meaning there is more choice and more time to make key decisions. For sellers, prices remain relatively steady, and pricing appropriately is key.”

Average 30-year mortgage rates were actually down substantially year-over-year, falling to 3.8% compared to 4.57% in June 2018.

They were also lower month-over-month falling to 3.8% from 4.07% in May 2019.

Number of days on the market, statewide, remained the same as last year at 45 days.

Statewide, inventory fell again, but just 4.1% year-over-year.

“Housing affordability is being discussed once again as a contributor to sales declines that are once again lower than those recorded last year for the same month,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “Price increases in Chicago and Illinois last month were barely positive and the increase in apartment rentals and declines in consumer sentiment indices suggest that many potential home buyers are sitting on the sidelines, no doubt influenced by concerns about trade conflicts and the future growth of the economy.”

Are higher property taxes, and loss of deductions, along with some fantastic apartment buildings, making renting more popular than buying now?

Is owning property on the way “out”?

Slower June home sales, moderating median prices provide opportunity for Illinois homebuyers [Illinois Association of Realtors, Press Release, July 23, 2019]

This 3-bedroom garden unit at 840 W. Belle Plaine in the Buena Park neighborhood of Uptown recently came on the market.

Long time readers might remember this building because we chattered about it in 2009, at the height of the Great Recession, because it was a recent condo conversion which they were attempting to sell in the worst financial conditions in 75 years.

But the surprise was that the 11 unit building sold out within 90 days.

They were all 3 bedroom, 2 bath units with high ceilings, crown molding and wainscoting plus new kitchens and baths.

They ranged in price from $289,000 to $399,000 plus $20,000 for garage parking.

See our 2009 chatter here which is interesting because in February 2009 it seems like the great times were going to go on forever in housing despite the economy. Some of the buyers chimed in about how much they got for their money and the upgrades.

This garden unit has 9 foot ceilings but the same wainscoting, chair rail and crown molding as all of the other units.

The kitchen has dark wood cabinets (cherry?), 2 inch granite counter tops and stainless steel appliances.

It’s wired for sound.

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

In 2009, buyers had no idea of the slow decline in prices that would soon come to the entire Chicago housing market.

The price history of this unit reflects what went on over the last 10 years.

But the price of this unit also finally surpassed the original condo conversion price a couple of years ago.

Can prices continue to rise in this neighborhood?

Keith Tarasiewicz has the listing. See the pictures here.

Unit #GE: 3 bedrooms, 2 baths, no square footage listed, garden unit

• Sold in February 2009 for $289,000
• Sold in February 2014 for $260,000
• Sold in July 2017 for $321,000
• Currently listed at $324,900 (includes garage parking)
• Assessments of $192 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $6770
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 12×15
• Bedroom #2: 13×10
• Bedroom #3: 13×11