Crib Chatter

While home selling/buying was considered “essential” and was not shutdown in Chicago during the COVID-19 restrictions, sales still plunged in March and April.

Those are key months in the spring home buying season.

The question was, would we see a big rebound in both buyers and inventory when the city reopened or would the recession keep sales depressed?

From Dennis Rodkin at Crain’s:

At the beginning of June, Rachel Frenzel was representing six homes for sale in Bridgeport, Midlothian and other locations. By mid-month, four were under contract, all after receiving multiple offers.

“It was crazy,” said Frenzel, a HomeSmart Realty Group agent. “It seems like after being stuck at home from the pandemic, suddenly people were out in force ready to find their next home.”

Linda Lee Tuggle, a Berkshire Hathaway HomeServices Chicago agent, put a two-bedroom condo in the Narragansett, an Art Deco skyscraper in the Chicago Beach section of Kenwood, on the market June 10, priced at $239,000. Five buyers called to look at it right away, she said, and once a solid offer was in hand, “I started turning people away when they called.” It was under contract June 14.

Here’s some stats that back up the anecdotal.

The week ended June 15 was the second in a row when more Chicago-area homes went under contract than in the corresponding week a year ago. It was also the first time that more homes went under contract than the week ended March 16, the last week before the crisis took hold. Buyers put 4,846 homes under contract in the week ended June 15, an increase of nearly 39 percent from the same time a year ago.

Open houses and showings are also up.

The June market appears to be hot.

Was fear about a big hit to Chicago’s housing market overblown?

Or is the housing downturn still to come later in the year as the recession impacts are felt?

Here comes the residential rebound [Crain’s Chicago Business, by Dennis Rodkin, June 16, 2020]

This 4-bedroom Victorian single family home at 3526 N. Marshfield in Lakeview came on the market in May 2020.

If it looks familiar, that’s because we have chattered about it several times over the last decade: in both 2013 and 2016, which was the last time it was on the market.

See our 2016 chatter here.

If you recall, the house is unique.

Built in 1889, it’s on an irregular lot measuring 27.2 x 73.5 x 60 x 51.5.

It has ornately carved faces on the exterior (see the listing pictures) and there are underground tunnels from the prohibition era that have been “blocked off.”

There’s a marble fireplace in the living room and a “preserved” oak staircase.

It’s being sold “as-is” again.

The living/dining rooms and kitchen are on the main floor.

The kitchen has dark cabinets and white and black appliances as well as a kitchen island.

3 bedrooms are on the second floor with a full bath.

The listing then describes a “tandem bedroom” in the third floor attic, which has skylights.

There’s a lower level, which the listing says is a “garden level” with a family room/den, a full bath, and the laundry and utility rooms.

The house does have central air and there is 1 outdoor parking spot along with a back deck and gated yard.

This house did not sell in either 2013 or 2016. It has now come on the market for the most expensive price yet.

It was listed in May 2020 at $809,000 and has been reduced to $799,000.

What will it take to finally sell this house?

Mary McIntire Petri at Exit Strategy has the listing. See the pictures and floor plans here.

3526 N. Marshfield: 4 bedrooms, 2.5 baths, 2500 square feet

• Sold in July 1991 for $160,500
• Sold in February 1994 for $176,000
• Was listed in March 2012 “as-is” for $550,000
• Re-listed in July 2013 for $650,000
• Re-listed in October 2016 “as-is” at $685,000
• Withdrawn
• Re-listed “as-is” in May 2020 for $809,000
• Reduced
• Currently listed at $799,000
• Taxes are now $10,957 (they were $8641 in 2016, $8056 in 2013 and $7958 in April 2012)
• Central Air
• 1-car outdoor parking
• Fireplace
• Bedroom #1: 20×12 (second floor)(is this the attic room?)
• Bedroom #2: 15×13 (second floor)
• Bedroom #3: 16×12 (second floor)
• Bedroom #4: 9×12 (second floor)
• Living room: 27×14 (main floor)
• Dining room: 14×13 (main floor)
• Kitchen: 16×13 (main floor)
• Family room: 30×17 (lower level)
• Laundry room: 12×7 (lower level)

This 3-bedroom townhouse at 3401 N. Janssen in Southport just came on the market.

Built in 1993, this townhouse complex has 15 units with a center courtyard, attached garages and rooftop decks.

This townhouse has 4 levels and the living room faces into the central courtyard.

The listing says the kitchen has been “updated” with white cabinets, a tile backsplash, and a center island. If you look at the pictures from the 2018 listing, the kitchen has wood cabinets and a wall on the island, that was removed to open the kitchen to the living/dining room.

One bedroom is on the main floor, along with a full bath and the one-car garage.

The other two bedrooms are on the third floor along with a bathroom.

The master bedroom has loft ceilings.

The fourth floor includes a den/office with skylights and the 15×10 rooftop deck that faces south.

This complex is just 2 blocks to the Southport El stop and all the shops and restaurants of Southport.

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

This townhouse has come on the market for $539,900, just 2 years after it last sold for $485,000.

Inventory of 3-bedroom townhouses is low in Southport.

Will it get the premium?

Dragana Rajic at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #B: 3 bedrooms, 2 baths, 1700 square feet, townhouse

• Sold in October 2000 for $340,000
• Sold in December 2003 for $404,000
• Sold in October 2008 for $466,000
• Sold in September 2014 for $448,000
• Sold in July 2018 for $485,000
• Currently listed at $539,900
• Assessments of $170 a month (includes exterior maintenance, scavenger)
• Taxes of $8209
• Central Air
• Attached 1-car garage
• Bedroom #1: 14×13 (second floor)
• Bedroom #2: 15×11 (second floor)
• Bedroom #3: 14×9 (lower level)
• Living room: 17×11 (main floor)
• Dining room: 7×11 (main floor)
• Laundry room: 5×3 (main floor)
• Office: 11×11 (third floor)
• Deck: 15×10 (third floor)

This 2-bedroom penthouse duplex at 3252 N. Kenmore in Lakeview just came on the market.

This is a former church which was converted into condos in 1993. It has 14 units and attached heated garage parking.

It doesn’t appear that many of the “church” features were maintained in the conversion.

This unit is a corner with two walls of windows and skylights.

It has a private deck off the dining room that can fit a table and chairs as well as a grill.

The kitchen has white cabinets, quartz counter tops, stainless steel appliances, a breakfast bar that seats 4 and a wine fridge.

There’s a gas fireplace in the living room and 14 foot ceilings with wood beams.

There’s a half bath on the main floor.

The 2 bedrooms and den on are on the lower level along with the two full baths.

The master suite has a 8×10 walk-in-closet along with a en suite bath with a spa-like stand-up shower.

The listing says the office/den can be enclosed for a third bedroom.

It has the features buyers look for including central air, washer/dryer in the unit and attached heated garage parking.

It’s just a few blocks to the Belmont El stop and is surrounded by shops and restaurants of Lakeview.

The listing says its in the Nettlehorst school district.

At 1809 square feet, is this a good townhouse or single family home alternative?

Kathryn Schrage at Redfin has the listing. See the pictures and floor plan here.

Unit #302: 2 bedrooms, 2.5 baths, duplex, penthouse, 1809 square feet

• Sold in June 1994 for $239,000
• Sold in December 1996 for $304,500
• Sold in April 2013 for $495,000
• Sold in April 2015 for $585,000
• Currently listed at $630,000 (includes garage parking)
• Assessments of $407 a month (includes exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $9718
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 13×18 (lower level)
• Bedroom #2: 12×13 (lower level)
• Office: 12×10 (lower level)
• Living room: 18×19 (main level)
• Dining room: 11×17 (main level)
• Kitchen: 18×19 (main level)
• Walk-in-closet: 8×10 (lower level)

This 2-bedroom in 2016 W. Rice in Ukrainian Village came on the market in May 2020.

This building is a Ranquist development and was constructed in 2019. It has 8 units and garage parking.

This unit is a simplex penthouse.

It has the modern finishes that Ranquist is known for.

There are light hardwood floors throughout giving it that California look.

The kitchen has custom white and black (or gray?) modern cabinets with Bosch and Thermador appliances along with a big kitchen island that seats 4.

There’s a master suite with a walk-in-closet and a spa style bath with Ann Sacks tile.

The unit has the modern floating bathroom vanities and white, black and gray motif that is popular right now.

If you like outdoor space, this unit has two spaces including a large 25×10 terrace off the living room/kitchen and a private 20×15 rooftop deck.

It has the finishes buyers look for including central air, washer/dryer in the unit and 1-car garage parking.

Originally bought in February of last year for $704,800, it has come back on the market at $724,900.

This building sold out quickly last year.

Will the first resale do the same?

Mark Icuss at Compass has the listing. See the pictures here.

Unit #301: 2 bedrooms, 2 baths, no square footage listed, simplex

• Sold in February 2019 for $704,800 (according to Redfin)
• Originally listed in May 2020 for $724,900
• Currently still listed at $724,900 (garage parking included)
• Assessments of $321 a month (includes scavenger, snow removal)
• Taxes are not listed
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 16×12
• Bedroom #2: 10×12
• Living room: 17×18
• Dining room: 14×9
• Kitchen: 14×12
• Walk-in-closet: 6×6
• Terrace: 25×10
• Rooftop deck: 23×12

This 6-bedroom historic row house at 2704 N. Lakeview in East Lincoln Park came on the market in February 2020.

But if it looks familiar, that’s because we last chattered about it in June 2018, which was the last time it was on the market.

You can see our chatter here.

It sold in 2018 after a full renovation.

Built in 1914, it is one of 4 row homes on Lincoln Park designed by Dangler & Adler.

If you recall, it’s 3-stories with a 4th floor set back that, according to the older listing, used to be a studio apartment.

This row house was sold in 2016 “as-is” and the 2018 listing said it hadn’t been lived in in years.

As of 2018, the row house had new Thermopane Low E windows, new copper plumbing and HVAC.

There’s now central air (just window units prior to the renovation) and a 3-car garage.

The property still has many of its vintage features including a living room with a huge skylight and moldings.

It has 4 fireplaces.

The kitchen has white and gray cabinets with 2 kitchen islands and luxury appliances along with the black industrial windows that are popular right now.

There’s a breakfast room off the kitchen.

One bedroom is on the second floor, three are on the third floor, including the master bedroom, and two are on the fourth floor, where the old studio apartment used to be.

It has extra features such as a theater room and an exercise room on the main floor.

There’s no basement or lower level.

There’s no yard but there’s a terrace off the kitchen.

But Lincoln Park is literally out the front door, so who needs a grass backyard?

The bathrooms have all been renovated in the classic white and black motif.

Listed in March 2018 at $7.2 million, the row house was sold in November 2018 for $4.75 million.

It came back on the market in February 2020 for $5.48 million, and remains at that price.

Will it get the premium the second time around?

Timothy Salm at Jameson Sotheby’s now has the listing. See the pictures here (no floor plan).

2704 N. Lakeview: 6 bedrooms, 4 full baths, 3 half baths, 10,018 square feet (2018 listing said that included the garage and terrace)

• Sold in November 2016 “as-is” for $1.8 million
• Renovated
• Originally listed in March 2018 for $7.2 million
• Sold in November 2018 for $4.75 million
• Originally listed in February 2020 for $5.48 million
• Currently still listed at $5.48 million
• Taxes are now $42,930 (they were $44,787 in 2018 and $40,976 in 2016)
• Central Air
• 3-car garage
• 4 fireplaces
• Bedroom #1: 21×19 (third floor)
• Bedroom #2: 14×13 (third floor)
• Bedroom #3: 15×9 (third floor)
• Bedroom #4: 14×12 (fourth floor)
• Bedroom #5: 14×9 (fourth floor)
• Bedroom #6: 17×23 (second floor)
• Living/dining room: 29×27 (second floor)
• Kitchen: 21×18 (second floor)
• Breakfast room: 21×9 (second floor)
• Study: 12×10 (second floor)
• Family room: 28×20 (second floor)
• Laundry room: 14×12 (second floor)
• Terrace: 17×14 (second floor)
• Exercise room: 18×10 (main floor)
• Theater: 21×12 (main floor)

This 2-bedroom in Chicago Place at 100 E. Huron in River North came on the market in March 2020.

Built in 1991, it originally had a shopping mall in its base and 204 condo units on the upper floors. The mall shut years ago but it still has some retail, and offices, in the base.

There’s a rental parking garage.

Chicago Place is a full service building with doormen, an indoor pool and an exercise room.

This is a corner 2-bedroom with north and west views.

The listing says it has had a “top to bottom renovation.”

That includes new 7.5 inch select grade French White Oak flooring throughout and LED lighting in all rooms.

The listing says the unit even has had a complete overhaul of all electrical including raising all switches and outlets to current code heights and installing Lutron dimmers and screwless plates.

The original windows in the building have a green frame. The listing says all windows and HVAC were sanded, primed and repainted.

There are remote controlled window treatments.

The kitchen has custom Omega cabinets, matte black kitchen hardware, quartzite counter tops with waterfall edge and JennAir NOIR custom integrated appliances.

The bathrooms have also been renovated with Robern uplift perimeter lit medicine cabinets, Toto Legato Washlet toilets, custom downlit floating vanities with soft mechanisms, Brizo matte black plumbing fixtures, and quartz and porcelain finishes.

There’s two walk-in closets.

The unit has the features buyers look for including central air, a nickel GE smart front load washer/dryer, and parking is available for rent in the building.

Originally listed in March 2020 for $825,000, it has been reduced to $749,000.

It was also listed for rent at $6,000 a month, which has been reduced to $5,500 a month.

Buyers love “new.”

Will this find a buyer at the new, lower, price?

David Mahoney at Jameson Sotheby’s has the listing (it appears to be agent-owned.) You can see pictures here.

Unit #2102: 2 bedrooms, 2 baths, 1365 square feet

• Sold in October 1993 for $347,000
• Sold in September 1998 for $412,000
• Sold in December 2000 for $645,000
• Sold in August 2019 for $480,000
• Originally listed in March 2020 for $825,000
• Reduced several times
• Currently listed at $749,000
• Also listed for rent in March 2020 for $6,000 a month
• Reduced
• Currently listed for rent for $5,500 a month
• Assessments of $1085 a month (includes heat, a/c, doorman, cable, exercise room, Internet, pool, exercise room, scavenger, snow removal)
• Taxes of $10,132
• Central Air
• Washer/dryer in the unit
• Parking available to rent in the building
• Bedroom #1: 15×12
• Bedroom #2: 14×12
• Living/dining combo: 25×17
• Kitchen: 13×9
• Foyer: 8×5
• Walk-in-closet: 5×5
• Walk-in-closet: 8×5

This 3-bedroom triplex in the Ford Motor Company building at 1446 S. Michigan in the South Loop came on the market in May 2020.

The Ford Motor Company was converted into loft-like condos in 2005. It has 14 units and attached garage parking.

This unit has some loft features including several walls of exposed brick and exposed ductwork along with large windows.

The first floor includes the kitchen, living and dining rooms along with a fireplace.

The kitchen has 42 inch cabinets, granite counter tops and stainless steel appliances with a breakfast bar.

The second floor has the preferred layout buyers look for in a 3-bedroom, with all three bedrooms on the same level.

The master suite has a walk-in-closet and an en suite bathroom with a walk-in shower.

The interesting thing about the bathrooms in this complex is that they left the brick exposed in most of them, which you don’t normally see.

The third level has a sunroom with a wet bar and a private rooftop deck.

The triplex has the features buyers look for including central air, washer/dryer in the unit and rare 2-car parking.

Listed at $560,000, including the parking, is this triplex a good townhouse alternative in this neighborhood?

Dorothy Wulf at Wulf Properties has the listing. See the pictures here.

Unit #H: 3 bedrooms, 2.5 baths, 1847 square feet, triplex

• I couldn’t find a prior sale on the CCRD. Is this the first sale from the developer?
• Originally listed in May 2020 for $560,000
• Currently still listed at $560,000 (includes 2-car garage parking)
• Assessments of $401 a month (includes parking, exterior maintenance, lawn care, snow removal and Internet)
• Taxes of $9,136
• Central Air
• Washer/dryer in the unit
• Fireplace
• Rooftop deck
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 10×10 (second floor)
• Bedroom #3: 15×10 (second floor)
• Living room: 21×17 (first floor)
• Dining room: 9×8 (first floor)
• Kitchen: 10×8 (first floor)
• Sunroom: 16×17 (third floor)
• Walk-in-Closet: 5×7
• Laundry: 5×7

This 3-bedroom in the Fullerton Colonnade at 457 W. Fullerton in East Lincoln Park just came on the market.

The Fullerton Colonnade was built in 1908 and has 14 units. I don’t remember if there’s any parking with the building but this unit doesn’t have parking in the building.

The building does have a shared common rooftop deck.

This unit hasn’t been on the market in 21 years.

While the building fronts Fullerton, this unit stretches along the west side of the building that overlooks Cleveland.

While all the units in this building have great vintage features, the listing says this particular unit was designed and owned by famous historical architect Paul Gerhardt, who was known for his Beaux Arts design.

It has it all.

The unit has 10 foot ceilings, some of which have wood beams.

It has 10 inch (!) upper and base wood moldings.

3 pockets doors.

A butler swing door.

Arched doorways (check out the doorway from the foyer into the dining room).

Stained glass.

An original wall safe (not pictured?).

Several built-ins including in the living room, dining room and one of the bedrooms.

It has a full-size dining room and a library, which can be used as a fourth bedroom, which also has access, via French doors, to a balcony.

The listing says the kitchen and baths have been updated.

The kitchen has white cabinets, what look like stone counter tops, stainless steel appliances, white subway tile backsplash and a small eat-in breakfast nook.

The listing says the building has 12″ thick walls which insulate the units from outside sound.

The unit also has a storage unit and a locker.

It has the features buyers look for including space pak cooling, washer/dryer in the unit and there are 2 deeded parking spaces available 500 feet away on Clark for $50,000 extra.

Currently listed for $749,900 for 2029 square feet, will there be a bidding war for this property among vintage lovers?

Lisa Kalous at Compass has the listing. See the pictures and floor plan here.

Unit #2: 3 bedrooms, 2 baths, 2029 square feet

• Sold in May 1981 for $160,000 (per Redfin)
• Sold in May 1986 for $220,000 (per Redfin)
• Sold in October 1994 for $330,000
• Sold in June 1999 for $403,000
• Currently listed for $749,900
• 2-car parking available on Clark for $50,000 extra
• Assessments of $1018 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal)
• Assessment for the 2 parking spaces $197.55 a month
• Taxes of $13,516
• Taxes for the 2 parking spaces is $1200
• Space pak cooling
• Washer/dryer in the unit
• Bedroom #1: 17×12
• Bedroom #2: 12×11
• Bedroom #3: 9×8
• Library: 13×13
• Kitchen: 15×8
• Breakfast nook: 5×5
• Living room: 29×14
• Dining room: 16×14
• Deck: 14×9

This 3-bedroom townhouse in the Victorian Place at 3350 N. Racine in Lakeview came on the market in February 2020.

Built in 1989, Victorian Place has 21 townhouses with attached garages.

This is an end-unit.

The main floor has a family room/third bedroom and half bath. The family room has a built-in Murphy bed.

The second floor has an open concept living/dining room and kitchen.

The kitchen appears to have maple cabinets, granite counter tops and stainless steel appliances, along with a window over the sink.

There are 2 bedrooms on the third floor, both with en suite baths.

It appears that the master bedroom has a turret with a high ceiling.

It has central air and a 1-car attached garage.

But the big selling feature, post COVID-19 lockdown, is the fully enclosed private yard with both a fence and landscaping keeping it private.

Listed in February 2020 at $665,000, it has been reduced $30,000 to $635,000.

How big is the demand for a true backyard in the city right now?

Joe Wright Real Estate has the listing. See the pictures here.

3350 N. Racine: 3 bedrooms, 2.5 baths, townhouse, 2200 square feet

• Sold in April 1994 for $245,000
• Sold in August 1998 for $310,000
• Sold in February 2006 for $495,000
• Sold in March 2010 for $532,000
• Sold in April 2015 for $550,000 (per Redfin- but looks mislabeled in the CCRD)
• Originally listed in February 2020 for $665,000
• Reduced
• Currently listed at $635,000
• Assessments of $220 a month (includes water, scavenger)
• Taxes of $11309
• Central Air
• Attached garage
• Bedroom #1: 16×14 (third floor)
• Bedroom #2: 12×11 (third floor)
• Living room: 18×12 (second floor)
• Dining room: 12×10 (second floor)
• Kitchen: 22×8 (second floor)
• Family room/third bedroom: 12×19 (main floor)