Crib Chatter

This 2-bedroom loft in the Gotham Lofts at 420 S. Clinton in West Loop Gate just came on the market.

If this loft looks familiar, that’s because we chattered about it back in July 2018 when it was first listed.

In 2018, many of you thought this neighborhood, which includes Union Station and the now renovated Old Post Office, was “dead” after 7 and had little going for it.

You can see our chatter here.

The Gotham Lofts is an old GE brick factory that was converted into condos during the loft conversion craze of the late 1990s and early 2000s.

The building has 188 units and both indoor and outdoor parking.

While it has an exercise room, it doesn’t have any other amenities. And it doesn’t have a doorman.

If you recall, this loft has a rare layout which has 3 exposures with windows on three sides of the unit.

As a result, both bedrooms have windows. Even the master bedroom closet has window.

The listing says this loft has been “interior designer renovated.”

It has exposed brick walls and timber ceilings with hardwoods throughout. The living/dining area has the original hardwoods, stained dark, and the bedrooms, which had carpet, now also have the dark hardwood floors.

There’s a linear gas fireplace and 3 chandeliers.

It has a new contemporary kitchen with a Calcatta Quartz waterfall island, a double oven, a wine fridge and stainless steel appliances.

The master bedroom has a 32 square foot shower and a modern vanity.

It has a separate laundry room, with rare side-by-side laundry.

The loft also has two balconies, one in the master bedroom and one in the living room.

It has the other features buyers look for including central air and indoor heated garage parking.

When we last chattered about this loft in 2018, the Old Post Office was still under renovation. But in 2020, there are now companies operating in the building even as further renovations continue, including to the river front area.

Amtrak is also in the process of renovating Union Station, including adding a food hall this year.

It’s within easy walking distance of Greektown and is a quick Uber to red hot Fulton Market.

Listed at $688,000 in July 2018, it has been on, and off, the market ever since.

It came back on in 2020 at a higher price, at $724,000.

With low inventory, and record low mortgage rates, will this loft finally sell, and get the higher price, in 2020?

Alexandra Englehardt Walschot at @Properties still has the listing. See the pictures here (the old listing had a floorplan, but this new one does not.)

Unit #518: 2 bedrooms, 2 baths, 1900 square feet, loft

• Sold in August 1999 for $314,500
• Sold in November 2017 for $435,000
• Listed in July 2018 for $688,000 (includes the heated garage parking)
• Delisted and Relisted in 2018 and 2019
• Currently listed at $724,000 (includes the heated garage parking)
• Assessments are now $899 a month (they were $812 a month in July 2018)(includes exercise room, security system, exterior maintenance, lawn care, scavenger, snow removal, parking)
• Taxes are now $10,199 (they were $9018 in July 2018)
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 20×15
• Bedroom #2: 13×13
• Living room: 14×18
• Dining room: 14×18
• Kitchen: 20×9
• Family room: 28×18
• Laundry room: 8×5
• Walk-in-closet: 9×8

This 3-bedroom penthouse in Contemporaine at 201 W. Grand in River North just returned to the market.

Built in 2004, Contemporaine has just 28 units and a parking garage.

It has won numerous architecture awards for modern architecture and is featured on architecture tours.

This top floor unit’s claim to fame is a rare 3,000 square foot completely built out terrace with Japanese gardens complete with waterfalls and 12-foot Bonsai trees.

The Chicago Tribune did an extensive story about the gardens in 2007. Check it out here.

We have chattered about this property several times, including last year when it returned to the market as a 3-bedroom (it had been a 2-bedroom in previous sales.)

You can see our July 2019 chatter here where some of you didn’t think the gardens were worth the price tag.

This time around, the listing has many more pictures of the gardens which really illustrates that it’s like having a park outside your high rise windows.

If you recall, it has 2-story 20 foot floor to ceiling windows that overlook the garden and have north, south and east views.

The kitchen has modern cabinetry with stainless steel appliances.

There are three bedrooms but two of the bedrooms don’t have windows but have what looks like sliding doors that open to the hall which has windows.

The master suite has corner windows, a huge 25×20 walk-in-closet and a large bathroom with a walk-in shower with double shower heads.

It’s on one level.

The unit has central air, washer/dryer in the unit and 2 car parking is available for $50,000 each (last year they were $65,000 each).

After not selling last year, this penthouse has been reduced $595,000 to $2.5 million.

This is just $100,000 over the 2013 sales price of $2.4 million.

Are sellers getting more realistic about Chicago’s price appreciation over the last 10 years?

Carrie McCormick at @Properties has the listing. See the pictures and floor plan here.

Or see it at the Open House on Mar 12 from 5 to 7 PM.

Unit PH2: 3 bedrooms, 2.5 baths, 3000 square foot terrace, no square footage of the interior listed

• Sold in April 2004 for $1,700,000
• Originally listed in September 2007 for $3.95 million
• Sold in May 2013 for $2.4 million
• Was listed in July 2019 for $3,095,000
• Withdrawn
• Currently listed at $2.5 million
• Assessments are still $2466 a month (they were $2000 a month in 2013) (includes parking, exterior maintenance, scavenger, snow removal)
• Taxes are now $36,942 (they were $35,331 in 2019 and were $29,975 in 2013)
• 2-car garage parking is available now for $50,000 each (it was $65,000 each in 2019)
• Bedroom #1: 23×20
• Bedroom #2: 13×10
• Bedroom #3: 13×10
• Kitchen: 20×17
• Dining room: 19×14
• Living room: 20×19
• Walk-in-closet: 25×20
• Terrace: 60×16
• Balcony: 20×20

This 2 bedroom in Jefferson Tower at 330 N. Jefferson in the Kinzie Station neighborhood on the Near West Side just came on the market.

Built in 2000, it has 187 units and a parking garage. It’s a full amenity building with a doorman and exercise room.

This unit has unobstructed north and west views.

It has a split bedroom layout.

The listing says both bedrooms can fit king sized beds.

The master bedroom has an en suite master bath and a walk-in-closet.

The kitchen has light wood cabinets, a 15 foot island with granite counter tops, and stainless steel appliances but you may get confused because the listing shows two kitchens, including one that is a computer generated version with modern black and white cabinets and white counter tops.

Similarly, both bathrooms are also shown with computer generated pictures with floating modern wood vanities and white tiled walls.

It has central air, a new washer/dryer and a heated garage parking space is available for $25,000.

Do the computer generated pictures showing you what the property COULD look like help or hurt in the sale?

Aaron Greenberg at Keller Williams Chicago-Lincoln Park has the listing. See the pictures here.

Unit #1008: 2 bedrooms, 2 baths, 1287 square feet

• Sold in August 2000 for $302,000 (included parking)
• Sold in November 2004 for $305,000 (included parking)
• Sold in May 2015 for $425,000 (included parking)
• Currently listed for $450,000 (plus $25,000 for parking)
• Assessments of $636 a month (includes heat, a/c, gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $7708
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×11
• Bedroom #2: 14×12
• Living room: 23×13
• Kitchen: 19×8
• Laundry room: 4×3

This vintage 3-bedroom at 612 W. Surf in East Lakeview just came on the market.

The listing doesn’t say when the building was constructed and neither does any of our old chatter on this building.

It has 8 units and outdoor parking behind the building. I don’t believe there’s an elevator in this building.

This unit was rehabbed by prior owners but still retains many vintage details.

It’s a rare vintage unit with the kitchen installed in the front of the unit, and not the back.

The kitchen has 42 inch custom light wood cabinets, white quartz counter tops and stainless steel appliances along with a walk-in pantry.

It has a breakfast bar that opens to the dining room which has a gas fireplace.

The third bedroom has French doors, built-in bookshelves and the original wainscoting.

There is crown molding, recessed lighting, plantation shutters and hardwood floors throughout.

The unit has 2 marble bathrooms.

There’s also a large covered deck. The prior listing pictures in 2016 had those hanging chairs. Are they included again in this sale?

It has the features that buyers look for with vintage including space pak cooling (radiator heat), washer/dryer in the unit and an outdoor parking space, which is rare for East Lakeview vintage buildings.

It’s in a prime East Lakeview location, near shops, restaurants and popular bus lines.

It’s also in the Nettelhorst school district.

This unit has listed at $560,000, which is $42,500 more than the 2016 sale.

Will they get the premium 4 years later?

Michelle Siska at Dream Town has the listing. See the pictures here.

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

• Sold in July 1991 for $152,000
• Sold in August 1996 for $209,000
• Sold in June 2004 for $371,000
• Sold in February 2016 for $517,500
• Currently listed for $560,000 (includes one outdoor parking space)
• Assessments of $322 a month (includes heat, gas, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7968
• Space pak cooling
• Washer/dryer in the unit
• 2 large storage rooms
• Gas fireplace
• Bedroom #1: 16×12
• Bedroom #2: 11×10
• Bedroom #3: 13×13
• Living room: 17×13
• Dining room: 22×12
• Kitchen: 11×10
• Laundry room: 5×19
• Deck: 20×8

This 2-bedroom loft in the Singer Building at 120 S. State in the Loop just came on the market.

The building was constructed in 1926 and has just 10 units. It’s zoned live/work and has 2 common parking spaces behind the building for shared use.

The listing says the owners have a deeded valet garage space a half a block away that will be included with the loft.

The sellers are the original buyers and Loop living pioneers.

From Dennis Rodkin at Crain’s:

In 1997 John and Margaret Barry, who were Oak Park empty-nesters looking for a new home in the city, bought the sixth floor of the skinny Gothic tower at 120 S. State St. They were friends of Wilbert Hasbrouck, the preservation architect whose architect son, Charles, had bought the long-vacant building to restore it, and because they had egged the Hasbroucks on to do the project, “we got first choice of the floor we wanted,” said John Barry, an attorney.

Built in 1926, as the Chicago showroom and offices for the Singer sewing machine company, the building, one of the narrowest on State Street, has ornate terra cotta trim on its east-facing street side and its longer, southern face along the Marble Place alley.

When State Street was turned into a pedestrian mall in the 1970s, the building was reportedly threatened with demolition, but somehow survived. It stood vacant for years except for the ground-level Ferris Wheel restaurant.

The first floor restaurant is currently a Subway.

The elevator opens into each floor directly with private elevator key.

The loft has all the authentic loft features that buyers look for including 11.5 concrete ceilings, oak floors, exposed brick  and duct work.

It also has 8 foot industrial windows on 3 sides, as it overlooks the alley to the south.

The kitchen has white cabinets and an island with white appliances.

There’s no outdoor space with the loft.

What’s the make-up of the live/work building?

John Barry said he and his wife have the largest residential unit in the building, as a setback begins above their floor and the floors below theirs are all offices.

It has the features buyers look for including central air and washer/dryer in the unit. While there’s storage in the unit, there’s also additional storage in the basement.

This is a rare opportunity to own an authentic loft in the heart of the loop.

When this was rehabbed in the late 1990s, it was unclear if anyone would ever want to live in the Loop.

22 years later, is Loop living hotter than ever?

Kevin McIntyre at Compass has the listing. See the pictures here.

Unit #6: 2 bedrooms, 2 baths, 2300 square feet, loft

• Sold in November 1998 for $340,000
• Currently listed for $869,900 (includes a deeded valet garage parking spot one-half block away)
• Assessments of $760 a month (includes security, exterior maintenance, water, scavenger)
• Taxes of $14,627
• Central Air
• Washer/dryer in the unit
• Live/work
• Full floor unit
• Bedroom #1: 19×16
• Bedroom #2: 12×16
• Living Room: 16×22
• Kitchen: 10×15
• Dining room: 15×15
• Family room: 31×17
• Laundry room: 6×6
• Library: 16×16

This 4-bedroom vintage home at 38 E. Schiller in the Gold Coast came on the market in August 2019.

It looks old, but according to the listing, only the 1887 façade is original.

The rest of the house is a new steel beam construction home rebuilt from the foundation in 2001.

It’s on a smaller than standard lot measuring 20.5 x 105.

The house does have a 1-car attached garage, which is a bonus in the Gold Coast as not all homes have garages.

The house has a few vintage features.

It has 2 fireplaces, with one sporting an antique mantle.

There’s also a stained glass window in the master suite, which is on the second floor and has a walk-in-closet and en suite bathroom.

Two other bedrooms are on the third floor along with a study and the fourth bedroom is in the lower level (which appears to be used as an exercise room in the listing pictures.)

There’s a second floor family room and a professionally landscaped terrace.

The house has a De Giulio designer chef’s kitchen with high end appliances and what looks like stainless steel cabinets and counter tops, along with stone counter tops on the kitchen island.

Listed at $2.68 million last August, it has been reduced to $2.546 million.

With the housing market picking up steam again, will this house finally sell this spring?

Emily Sachs Wong at @Properties has the listing. See the pictures and floor plan here.

38 E. Schiller: 4 bedrooms, 4.5 baths, 4946 square feet, 1 car garage

• The price history is confusing. The CCRD doesn’t show any prior sales
• But Zillow/Redfin have it selling in May 2005 for $2.625 million
• Sold in May 2014 for $2.525 million (per Zillow- but not the CCRD)
• Originally listed in August 2019 for $2.68 million
• Reduced
• Currently listed at $2.546 million
• Taxes of $43,173
• Central Air
• 2 fireplaces
• Bedroom #1: 18×15 (second floor)
• Bedroom #2: 14×14 (third floor)
• Bedroom #3: 19×11 (third floor)
• Bedroom #4: 15×23 (lower level)
• Laundry room: 13×16 (lower level)
• Study: 16×14 (third floor)
• Walk-in-closet: 11×8 (second floor)
• Family room: 14×20 (second floor)
• Kitchen: 14×13 (main floor)
• Living/dining room: 16×28 (main floor)
• Deck: 15×11

This 6-bedroom single family house at 4301 N. Greenview in the Graceland West neighborhood in Lakeview came on the market in May 2019.

Built in 2009, the 7000 square foot house is on an extra large 41.5 x 120 corner lot.

It has a 2.5 car heated garage which is attached to the house through a lower level tunnel.

There’s an elevator on 4 levels.

The house has several private outdoor spaces including a 700 square foot garage roof deck with an outdoor fireplace and ceiling fans.

It also has a landscaped side yard.

The house has 4 wood burning fireplaces along with 2 laundry rooms and 2 mud rooms.

The kitchen has white cabinets, a big kitchen island and stainless steel appliances.

Four of the bedrooms are on the second floor with the other two in the lower level, which also has a recreation room and game room.

The third floor has a “bonus room” which is carpeted.

The listing says you can walk to the Brown line, shops, restaurants and the Cubs from the house.

Graceland West, which is west of the Graceland cemetery, is in Lakeview even though it is north of Irving Park Road.

The lots are larger than the standard Chicago lots in the rest of Lakeview which means larger homes can be built.

Originally listed at $3.5 million in May 2019, the listing says it has been “under a re-do the past couple of weeks” and is now ready for the market.

It has been reduced to $2.789 million.

Can this neighborhood support homes at nearly $3 million?

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

4301 N. Greenview: 6 bedrooms, 5.5 baths, 7000 square feet, 2.5 car garage

• Sold in October 2009 at $2.725 million
• Originally listed in May 2019 for $3.5 million
• Reduced
• Currently listed at $2.789 million
• Taxes of $57,479
• Central Air
• 4 wood burning fireplaces
• 2 laundry rooms
• 2 mud rooms
• Elevator
• Bedroom #1: 21×19 (second floor)
• Bedroom #2: 21×19 (second floor)
• Bedroom #3: 16×13 (second floor)
• Bedroom #4: 14×12 (second floor)
• Bedroom #5: 17×12 (lower level)
• Bedroom #6: 17×12 (lower level)
• Recreation Room: 25×18 (lower level)
• Game room: 14×14 (lower level)
• Living room: 26×16 (main floor)
• Dining room: 15×13 (main floor)
• Family room: 30×19 (main floor)
• Kitchen: 15×13 (main floor)
• Florida room: 14×14 (main floor)
• Bonus room: 51×20 (third floor)

This 3-bedroom vintage single family house at 1338 W. Grace in the Southport neighborhood of Lakeview came on the market on February 19, 2020.

It was under contract within 5 days- by February 24.

Built in 1891 on a non-standard 58×40 lot, it has a front porch and a side driveway that fits 3-cars. The listing says they have made $3,000 a year renting out spaces for Cubs games and other events.

The listing calls it “remodeled vintage chic.”

The house has a newly updated kitchen with brand new white quartz counter tops, a breakfast bar, a white subway tile backsplash, and stainless steel appliances.

There are new floors in the kitchen and hallway.

The first floor also has a den with a wood burning fireplace.

All three bedrooms are on the second floor, with new hardwood floors, along with an “urban chic” bathroom with new tile floor and vanity.

There’s a big rec room in the basement with laundry along with a new drain tile system. They also spent $30,000 to make sure the basement was “dry as a bone.”

The house has a new furnace, air conditioning and dishwasher.

It’s in the Blaine school system, which is just down the street.

It’s near all the shops and restaurants (Dairy Queen!) of Southport and just a few blocks from Wrigley Field.

The  house is currently listed at $825,000, which is $195,000 above the 2016 sales price of $630,000.

I normally don’t cover properties that are under contract but many north side properties are going under contract almost immediately right now.

Is it a sizzling hot market or is the lack of inventory really the problem?

Anyone hearing about bidding wars?

Jennifer Evans Piet at @Properties has the listing. See the pictures and floor plan here.

1338 W. Grace: 3 bedrooms, 2 baths, no square footage listed, single family home

• Sold in April 1993 for $206,500
• Sold in September 2001 for $547,000
• Sold in August 2016 for $630,000
• Was listed on Feb 19, 2020 for $825,000
• Under contract on Feb 24, 2020
• Taxes of $12,992
• 3-car driveway (no garage)
• Central Air
• Wood burning fireplace
• Not sure about these room sizes as they don’t match those in the floor plan
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 17×11 (second floor)
• Bedroom #3: 15×12 (second floor)
• Den: 12×11 (main floor)
• Living room: 14×13 (main floor)
• Dining room: 16×14 (main floor)
• Kitchen: 13×11 (main floor)
• Family room: 26×13 (basement)
• Storage: 10×6 (basement)

This 3-bedroom townhouse at 1633 W. Belle Plaine in the Graceland West neighborhood of Lakeview came on the market in January 2020.

Built in 1973, this complex has 10 2-story townhouses with a central courtyard and outdoor parking on the side alley.

The listing says this townhouse has a new roof and all windows were replaces with Andersen windows.

The kitchen has wood cabinets, stainless steel appliances and granite counter tops.

There are hardwood floors throughout.

All three bedrooms are on the second floor.

The townhouse has a new hybrid washer/dryer on the first floor along with a private fenced back yard with brick pavers and a garden area.

It has the features buyers look for including central air and one outdoor parking space included.

This townhouse is just 2 blocks to the Irving Park Brown Line stop and is near the shops and restaurants on Irving Park Road and Southport.

Listed at $440,000, is this a good starter townhouse for someone who doesn’t want condo living?

Paul Blackburn at @Properties has the listing. See the pictures here.

1633 W. Belle Plaine: 3 bedrooms, 1.5 baths, 1600 square feet, townhouse

• Sold in October 2005 for $341,000
• Originally listed in January 2020 for $440,000
• Currently still listed at $440,000
• Assessments of $300 a month (includes exterior maintenance, scavenger)
• Taxes of $7284
• Central Air
• 1 outdoor parking space included
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 12×11 (second floor)
• Bedroom #3: 14×9 (second floor)
• Living room/dining room: 23×16 (first floor)
• Kitchen: 14×12 (first floor)
• Laundry room: 3×5 (first floor)
• Storage: 4×4 (first floor)

The Illinois Association of Realtors is out with the January sales data and the Chicago housing market showed improvement for the second month in a row.

The city of Chicago saw year-over-year home sales increase 5.9 percent with 1,427 sales in January, compared to 1,347 a year ago. The median price of a home in the city of Chicago in January was $269,000 up 5.5 percent compared to January 2019 when it was $255,000.

January’s number was revised up considerably, as last year’s initial look was at an 8-year low of 1164 sales. Almost 200 further sales were eventually added to the month, putting it within the ballpark of prior years.

Sales Data Since 2006 (thanks to G for the older data):

• January 2006: 2009 sales and median price of $258,000
• January 2007: 1850 sales and median price of $279,900
• January 2008: 1203 sales and median price of $290,000
• January 2009: 918 sales and median price of $205,000
• January 2010: 1237 sales and median price of $195,000
• January 2011: 1034 sales and median price of $150,000
• January 2012: 1123 sales and median price of $149,000
• January 2013: 1521 sales and median price of $157,000
• January 2014: 1383 sales and median price of $200,750
• January 2015: 1348 sales and median price of $220,000
• January 2016: 1398 sales and median price of $227,750
• January 2017: 1574 sales and median price of $255,000
• January 2018: 1444 sales and median price of $265,000
• January 2019: 1347 sales and median price of $255,000
• January 2020: 1427 sales and median price of $269,000

“In January, we saw slight upward growth in closed sales and median sales price,” said Maurice Hampton, president of the Chicago Association of REALTORS® and owner of Centered International Realty. “We continue to see a downturn in inventory. The combination shows we still have demand, but without the inventory to show for it.”

The Illinois Association of Realtors busted out some Chicago specific data in a separate chart.

Condo sales were up 7.5% in the month to 771 sales. Single family home sales rose 4.1% to 656 sales.

Inventory in Chicago fell to 7190 from 7746 homes in 2019, down 7.2%.

The number of days on the market in Chicago also fell to 52 from 55 last year.

Inventory remains tight, as most buyers can confirm.

If you come on the market priced right, you are selling quickly.

“January started off the new year on a positive note with home sales and prices increasing month-over-month and annually, reflecting recent national sales trends,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “The pending sales index suggests this momentum may be sustained for the next several months and consumers are optimistic about the short- and medium-term prospects for the economy. The major concern continues to be the amount of inventory for sale.”

The average thirty year mortgage rate remains favorable. It fell to 3.62% in January, down from 3.72% in December and down from January 2019 when it was 4.46%.

The 10-year treasury is sliding again. It’s possible that rates will fall further.

Will the tight inventory finally boost Chicago’s housing market this spring?

January brings uptick in Illinois home sales and prices [Illinois Association of Realtors, Press Release, February 21, 2020]