Crib Chatter

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]

This 3-bedroom loft in the Michigan Avenue Lofts at 910 S. Michigan in the South Loop recently came on the market.

This building was constructed in 1910 and has 267 units and parking. It has a doorman and exercise room and sits directly across from Grant Park.

This loft has the high ceilings and large windows with some exposed duct work which is painted white. There’s no other authentic loft features such as exposed brick or beams, however.

The listing says it is east facing and that the second bedroom faces east, which is of Grant Park and the Lake.

But what’s the other exposure?

The new Helmet Jahn tower at 1000 S Michigan is being built nearby.

The listing says there’s an updated kitchen with new white cabinets, quartz counter tops, a stone backsplash and stainless steel appliances.

The master bedroom has a bath with dual vanity and walk-in-closet.

The listing says the third bedroom could also be an office. It doesn’t appear to have a window but there’s no floor plan with the listing so it’s unclear.

The loft has a side-by-side washer/dryer, central air and parking is included in the price.

It’s listed at $630,000 which is $70,000 under the 2002 purchase price of $700,000.

Is this a deal?

Alysa Peterson at Redfin has the listing. See the pictures here.

Unit #1001: 3 bedrooms, 2 baths, 1600 square feet

• Sold in April 1999 for $326,000
• Sold in June 2002 for $495,000
• Sold in October 2002 for $700,000
• Currently listed at $630,000 (includes the parking)
• Assessments of $1000 a month (includes heat, a/c, gas, parking, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $10,936
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 13×16
• Bedroom #2: 14×11
• Bedroom #3: 8×11
• Living room: 13×27
• Kitchen: 12×17
• Laundry room: 6×6
• Walk-in-closet: 10×7

This 2 bedroom loft at 1318 W. George in West Lakeview came on the market in July 2019.

I don’t know when the building was constructed but it was converted into lofts into 7 lofts and attached heated garage parking in 1996.

It has an elevator and a shared patio.

This loft is a duplex up loft with 18 foot ceilings and exposed brick.

It has south facing windows in the living/dining and kitchen.

The kitchen has maple cabinets, stainless steel appliances and a granite island.

The master bedroom is on the main floor, and has a window. It has an en suite bath with a spa tub and stand-up shower.

There’s a loft with a second bedroom, and office and a family room on the second floor.

It has central air, washer/dryer in the unit and a heated garage space is included.

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

Listed in July 2019 at $580,000, it’s been reduced $20,000 to $560,000.

At 2,000 square feet, is this a deal for the neighborhood?

Carol Ann Edwards-Nasser has the listing. See the pictures and floor plan here.

Unit #2C: 2 bedrooms, 2 baths, 2000 square feet, duplex up, loft

• Sold in October 1996 for $289,500
• Sold in September 1998 for $328,000
• Sold in October 2002 for $465,000
• Sold in October 2011 for $405,000
• Originally listed in July 2019 for $580,000
• Reduced
• Currently listed at $560,000 (heated garage parking included)
• Assessments of $378 a month (includes exterior maintenance, scavenger snow removal)
• Taxes of $8895
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×23 (main floor)
• Bedroom #2: 11×10 (second floor)
• Family room: 14×18 (second floor)
• Living room: 22×21 (main floor)
• Kitchen: 13×9 (main floor)

This 2-bedroom on the 26th floor in State Tower at 1230 N. State Parkway in the Gold Coast just came on the market.

This building was construction in 1979 and has 92 units and an attached garage. It’s a doorman building which also has a club room, an exercise room and a rooftop deck.

This unit is in the preferred southeast tier, which means it has both lake and city views.

It has a balcony that faces east.

There’s also a wall of windows that faces south, with views of the John Hancock (yes, I’m still calling it that) and the other high rises of the near north side.

The listing says the unit was “completely renovated” in 2016.

It has light colored hardwood floors throughout.

The kitchen has new white cabinets, high-end stainless steel appliances, a wine refrigerator, quartz counter tops and a tile backsplash.

It has all-new bathrooms.

There’s a separate laundry room with a side-by-side washer/dryer and storage.

The unit has central air but there’s no deeded parking. The last time the property sold with parking was in 2001.

At $565,000, is this the perfect property for someone who wants views and also wants move-in ready?

Aelee Han at Berkshire Hathaway HomeServices has the listing. See the pictures here.

Or see it at the Open House this Saturday and  Sunday, Feb 22 and 23, from 1-3 PM.

Unit #26A: 2 bedrooms, 2 baths, 1250 square feet

• Sold in March 1989 for $221,000 (included parking)
• Sold in May 1999 for $295,000 (included parking)
• Sold in November 2001 for $510,000 (included parking)
• Sold in November 2006 for $565,000 (no parking)
• Sold in March 2016 for $397,500 (no parking)
• Currently listed at $565,000 (no parking)
• Assessments of $1086 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9498
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×13
• Bedroom #2: 10×13
• Living room: 29×16
• Kitchen: 9×16
• Balcony: 13×6

This 3-bedroom penthouse triplex loft in the Tower Lofts at 1601 W. School just came on the market.

Built in 1915, it was the former Weiboldt’s store. It has 80 lofts and heated garage parking. There’s no doorman.

There’s also no longer scaffolding on this building. I need to update my picture.

This penthouse level loft is a combined unit with 3,000 square feet on 3 levels.

It faces north.

It has 16-foot cement ceilings with exposed brick and ductwork.

The 3-bedrooms are on the main floor and all three have full walls. Only the master bedroom has a window, however.

The master bedroom also has a spa bath and walk-in-closet.

The listing says the kitchen is “newly renovated” with dark modern cabinets and stainless steel appliances.

There’s a lofted family room and a top level entertainment room with a wet bar that leads to a private rooftop deck with Wrigley Field lights views.

It has the features buyers look for including central air, washer/dryer in the unit and 2 heated garage parking spaces.

The loft has come on the market at $869,000. But at 3,000 square feet, is this a deal for the square footage?

Jenny Ames at Engel & Voelkers Chicago has the listing. See the pictures here.

Unit #714: 3 bedrooms, 2 baths, 3000 square feet, triplex loft

• Sold in February 1996 for $298,000
• Sold in May 1997 but no price listed
• Sold in September 1999 for $544,000
• Sold in June 2011 for $629,000 (included the parking)
• Currently listed at $869,000 (includes the 2-parking spaces)
• Assessments of $833 a month (includes parking, cable, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $12,420
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 18×19 (main floor)
• Bedroom #2: 12×11 (main floor)
• Bedroom #3: 12×12 (main floor)
• Living room: 19×27 (main floor)
• Kitchen: 13×11 (main floor)
• Walk-in-closet: 12×10 (main floor)
• Family room: 14×15 (second level)
• Entertainment room: 12×11 (third level)
• Deck: 20×12 (third level)

This 5-bedroom single family home at 1324 W. Webster in Lincoln Park came on the market in February 2020.

If it looks familiar, that’s because we chattered about it when it was on the market in 2017.

Back then, it was listed for $2.999 million and many of you thought the price was too high for a home this far away from the lake.

You can see our 2017 chatter here.

If you recall, this house was built in 2007 on a 24×120 lot on the corner of Wayne and Webster.

It has upgraded millwork and custom wall finishes.

The eat-in kitchen has white cabinets, stone counter tops and high end appliances along with a great room.

The master suite is on the second floor and has dual walk-in closets and a luxurious spa bath with a steam shower, soaking tub, heated floors and a private terrace.

The second floor also has two other bedrooms that are en suite.

The other two bedrooms are in the lower level where there is another full bath.

The third floor has what the listing calls two “flex rooms” which could be whatever the buyer wishes, as well as a half bath.

There’s wine storage and a recreation/media room in the lower level as well.

The house has its own elevator and 2 laundry rooms, one in the lower level and one on the second floor.

If you’re looking for a lot of parking, the house has a 2-car garage and parking for 2 more cars on the driveway. There’s also a deck over the garage.

This house sold in August 2009, which was during the financial crisis, for $1.65 million.

In 2017, it was listed at $2.999 million before being withdrawn.

3 years later, it has come back on the market at $2.7 million.

Will this price get the sale done in 2020?

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

1324 W. Webster: 5 bedrooms, 5 baths, 2 half baths, 5985 square feet

• New construction in 2007
• Sold in August 2009 for $1.65 million
• Listed in March 2017 for $2.999 million
• Withdrawn
• Currently listed for $2.7 million
• Taxes are now $35,851 (they were $29,809 in March 2017)
• Central Air
• 2 sets of washer/dryers
• 2 car garage plus 2 car parking on the driveway
• Bedroom #1: 18×14 (second floor)
• Bedroom #2: 13×11 (second floor)
• Bedroom #3: 14×11 (second floor)
• Bedroom #4: 14×10 (lower level)
• Bedroom #5: 12×11 (lower level)
• Bonus room: 25×12 (third floor)
• Deck: 24×22 (second floor)
• Playroom: 16×9 (third floor)
• Family room: 22×18 (lower level)
• Laundry room: 10×6 (lower level)

This 2-bedroom at 2221 N. Lincoln in Lincoln Park just came on the market.

I can’t find an age on the building but it’s old and has 5 units and is a self-managed association. It was converted into condos in 1999.

This unit has the only private garage for the building, which is down the side alley. That garage includes some additional storage.

I thought we had chattered about this unit previously, as it was last listed in 2015 after it was completely renovated, but it sold within days so I didn’t have time to post on it.

The unit has many of its vintage features including original oak mill woodwork with custom, solid oak built-ins including a hutch in the dining room.

It also has ceiling medallions in several rooms.

The kitchen was renovated in 2015 and has white cabinets, stainless steel appliances and stone counter tops.

The master bedroom has an en suite bathroom, which is rare in a vintage unit.

The bathrooms were also renovated in 2015.

Because it’s on the corner which faces the alley, the unit has two walls of windows, including a bay window.

Along with the private garage, the unit has the finishes buyers look for including central air and washer/dryer in the unit.

It has come on the market at $449,000.

Is this going to sell in a week again 5 years later?

Mariah Dell at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.

Unit #1N: 2 bedrooms, 2 baths, 1500 square feet

• Sold in June 1999 for $129,000
• Sold in May 2001 for $250,000
• Sold in August 2014 for $268,000 (included garage parking)
• Sold in June 2015 after renovation for $395,000 (included garage parking)
• Currently listed at $449,000 (includes garage parking)
• Assessments of $295 a month (includes exterior maintenance, scavenger)
• Taxes of $6338
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×13
• Bedroom #2: 13×12
• Living room: 17×12
• Dining room: 15×14
• Kitchen: 13×11

This 3-bedroom single family home at 610 W. Kemper Place in Lincoln Park just came on the market.

Built in 1881, it’s on a smaller than standard Chicago lot measuring 50×21 and doesn’t have parking.

If it looks familiar, that’s because we chattered about it in 2012 and 2013, the last time it was on the market. The market was bottoming out back then and the house was listed at just $438,800.

See our chatter here.

If you recall, this house is located directly across from the Lincoln Elementary.

It has a front fenced in patio and a roof top deck.

The listing says the kitchen has had a “facelift.” The cabinets are now white, and there are stainless steel appliances.

All three bedrooms are on the second floor. The listing says the master bedroom is 22×11, but this appears to include the square footage of the bathroom as the floor plan lists the master bedroom as 11×11.

The listing says the house has had a “complete renovation of the master bathroom.”

It also says there are new hardwoods throughout and new flooring in the lower level which has a family room, the laundry and storage.

The house has custom lighting and paint.

It also has central air.

Worried about parking? The listing says there is private leased garage parking which is transferrable.

Here’s a comment from sonies from 2013:

“Nobody wants a SFH with no parking, on a postage stamp lot, on an alley, with small bedrooms, and craptastic finishes from the 90’s, even if it is in mighty Lincoln Park. Too bad they didn’t list in 2005-2007 this would have sold for 700k easy.”

This house is currently listed at $699,900.

After the renovations, and the hotter housing market, will they get?

Michael Gaffney at Compass has the listing. See the pictures and floor plan here.

610 W. Kemper: 3 bedrooms, 2 baths, 1764 square feet

• Sold in 1993? (no price)
• Sold in May 2013 for $443,000
• Currently listed at $699,900
• Taxes are now $7908 (they were $6582 in February 2103)
• Central Air
• No parking- but current owners have leased garage parking that is transferrable
• Bedroom #1: 11×22 (second floor)
• Bedroom #2: 11×8 (second floor)
• Bedroom #3: 11×9 (second floor)
• Kitchen: 14×12 (main level)
• Living room: 18×11 (main level)
• Dining room: 17×11 (main level)
• Family room: 14×8 (basement)
• Laundry room: 6×3 (basement)
• Front patio: 15×15
• Roof top deck: 16×8

This 3-bedroom in The Barry at 3100 N. Sheridan in East Lakeview came on the market in January 2020.

The Barry was built in 1923 and has 65 units and a doorman. There’s no parking but it’s available for rent in the neighborhood.

This listing says that there was “no surface left untouched during the renovation” of the unit.

It has custom millwork, bookcases, new windows and hardwoods throughout.

The eat-in kitchen has white cabinets with Subzero and Wolf appliances and a beverage refrigerator in the wet bar.

There are Waterworks tile and fixtures.

It has heated flooring in the kitchen and baths.

It’s wired for sound and has brand new 2-zone air conditioning.

There’s a gas fireplace and custom California closet organizers.

The building has a playground, an expanded exercise room and a courtyard with tables and grills.

It has washer/dryer in the unit and parking is available for rent for $200 to $300 a month.

This unit was already under contract but just came back on the market.

Will it be under contract again this week at its price of $850,000?

Wade Marshall at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.

Unit #9A: 3 bedrooms, 2.5 baths, 2400 square feet

• Sold sometime before 1992
• Sold in November 2005 for $500,000
• Originally listed in January 2020 for $850,000
• Under contract in February 2020
• Re-listed in February 2020 at $850,000
• Assessments of $1740 a month (includes heat, gas, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $8,673
• Space pak cooling
• Washer/dryer in the unit
• No parking but available for rent from $200-$300 a month
• Gas fireplace
• Bedroom #1: 17×10
• Bedroom #2: 17×12
• Bedroom #3: 12×11
• Office: 12×8
• Living room: 25×15
• Dining room: 15×11
• Kitchen: 12×8
• Laundry room: 4×4
• Gallery: 31×7
• Foyer: 8×8

This 2-bedroom on the twenty second floor in 600 N. Fairbanks in Streeterville came on the market in June 2019.

600 N. Fairbanks was designed by famed architect Helmut Jahn. It was built in 2007, just as the housing bust was about to happen, but most of the units in the building were already sold, and closed on, by the time the Great Recession hit.

It has 212 units and an attached parking garage. It’s a full amenity building with a doorman, indoor pool, exercise room and clubhouse.

The building was construction with a modern and urban design including exposed concrete ceilings and floor-to-ceiling windows.

This unit has north and west views with 10 foot ceilings.

The kitchen has dark Snaidero cabinets, which were standard in all units, stone counter tops and back splash along with upscale appliances including a Subzero refrigerator and Wolf range.

The master suite has a built-out walk-in-closet and a stone bath with a separate tub and walk-in shower.

The unit has custom roller shades that are included.

The unit has the finishes buyers look for including central air, washer/dryer in the unit and deeded parking is available for $55,000.

The listing says there are no specials planned, even with an upcoming lobby “re-decorating”, and there are over $2 million in reserves.

This building didn’t see much distress during the Great Recession as others completed around the same time.

Does it still hold the crown as one of the hottest buildings in Streeterville?

Michael Maier at Berkshire Hathaway HomeServices has the listing. See the pictures here.

Unit #2205: 2 bedrooms, 2 baths, 1253 square feet

• Sold in December 2007 for $579,500 (included the parking)
• Originally listed in June 2019 (I couldn’t find the price)
• Withdrawn in November 2019
• Currently listed at $663,000 (parking is $55,000 extra)
• Assessments of $735 a month (including a/c, gas, doorman, cable, Internet, clubhouse, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,700
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 12×18
• Bedroom #2: 11×11
• Kitchen: 10×11
• Living/dining room: 19×31
• Laundry room: 3×4
• Walk-in-closet: 5×7