Crib Chatter

This 5-bedroom historic home at 1328 N. State Parkway in the Gold Coast came on the market in October 2018.

Built in 1938, the house, known as the Florsheim Mansion, was designed by Andrew Rebori and then added onto by Bertrand Goldberg in the 1950s.

There are actually two separate townhouses with a courtyard and a large galley kitchen (designed by Goldberg) connecting the structures.

If it looks familiar, that’s because it has been on and off the market since 2010.

See our 2013 chatter here.

We also chattered about it in September 2019 when it had been reduced.

See our 2019 chatter here.

If you recall, this house is on a smaller than standard 18.6 x 125 foot lot but still has a 2-car attached garage.

The listing says there are lake views from the living room and master bedroom.

It has a 2-story family room and renovated baths.

The Goldberg kitchen is stainless steel and it’s a galley kitchen in between the two townhouses.

Watch an older interesting video tour of the house with the owners describing its special features here.

This house has been under contract several times over the years but hasn’t sold.

Originally listed in October 2018 for $2,397,747, it had now been reduced to $1.69 million.

That’s $540,000 under the 2006 purchase price of $2.3 million.

Is this a deal?

Michael Rosenblum at Berkshire Hathaway still has the listing. See the pictures here.

1328 N. State Parkway: 5 bedrooms, 5 baths, 4500 square feet

• Sold in July 1998 for $517,500
• Sold in April 2006 for $2.23 million
• Originally listed in February 2010 for $2.5 million
• Off and on the market
• Re-listed in October 2018 for $2,397,747
• Reduced
• Under contract in August 2019
• Re-listed and now listed at $1,997,747
• Reduced
• Currently listed at $1.69 million
• Taxes are still $45,938 (they were $31,834 in 2013) (they were $31,384 in 2011)
• Central Air
• 2 car attached garage
• 3 wood burning fireplaces
• Bedroom #1: 19×14 (third floor)
• Bedroom #2: 15×12 (third floor)
• Bedroom #3: 15×12 (third floor)
• Bedroom #4: 11×7 (main floor)
• Bedroom #5: 11×7 (main floor)

This 2-bedroom in Lake Shore Plaza at 1000 N. Lake Shore Plaza in the Gold Coast came on the market in November 2019.

Built in 1964, Lake Shore Plaza has 132 units and valet parking. It’s a full service building with a pool, exercise room and doorman.

According to Emporis, 1000 N. Lake Shore Plaza, at 55 stories, was actually the tallest building in Chicago to have balconies until Park Tower, near Water Tower Place, was built in 1999.

And an interesting construction fact: This is the tallest building in Chicago with significant areas of brick in its façade.

This southwest corner unit has had a “high quality renovation.”

It has custom millwork throughout by European craftsmen.

The listing says there are all new windows and balcony door.

The kitchen has white and wood modern cabinets with Thermador appliances and a wine fridge.

All baths have Kohler fixtures.

It has central air, washer/dryer in the unit and valet parking.

Originally listed in November 2019 at $1,095,000, it has been reduced to $999,999.

Buyers want “new.”

Will the price cut get a quick sale?

Joseph Gasbarra at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #20C: 2 bedrooms, 2.5 baths, 2100 square feet

• Sold sometime before 1986
• Sold in February 2019 for $545,000
• Originally listed in November 2019 at $1,095,000
• Reduced
• Currently listed at $999,999
• Assessments of $1983 a month (includes air conditioning, doorman, cable, Internet, exercise, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $13,472
• Central Air
• Washer/dryer in the unit
• Parking is valet in the building
• Bedroom #1: 20×14
• Bedroom #2: 17×13
• Living room: 18×18
• Dining room: 17×13
• Kitchen: 18×10
• Library/family room: 17×13

This 3-bedroom penthouse at 2800 N. Lincoln in Lakeview recently came on the market.

This is a 7 unit building that was constructed by Noah Properties in 2017. It has an elevator which is key entry into the units.

This building is on the 6-corner intersection of Diversey, Lincoln and Racine.

These were all built as luxury units and have upscale finishes.

It has floor-to-ceiling windows and 3 outside spaces including a balcony off the master bedroom, a private terrace and a big private rooftop deck which is access via the elevator.

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

The master bedroom has a large bathroom with steam shower.

It has central air, washer/dryer in the unit and it appears that one car parking is included.

Two years ago, this sold “new” for $981,000 but has come on the market for $94,000 more, or $1,075,000.

Will it get the premium?

Barbara O’Connor at Dream Town has the listing. See the pictures here.

Unit #4D: 3 bedrooms, 2 baths, no square footage listed, penthouse

• Sold in December 2017 for $981,000
• Currently listed at $1,075,000
• Assessments of $331 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes are still “new” (or not seemingly listed in the public listing)
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×13
• Bedroom #2: 12×11
• Bedroom #3: 13×12
• Living room: 46×24
• Laundry room: 9×6
• Rooftop deck: 35×17
• Terrace: 10×13
• Balcony: 10×6

This 4-bedroom single family home at 1224 E. 57th in Hyde Park came on the market in May 2019.

Built in 1887, the listing calls it a “unique campus cottage, built around the Columbian Worlds Fair.”

It’s on an irregular 34×100 lot but doesn’t have a garage or any onsite parking.

This house has many of its vintage features including original trim (not painted), exposed brick, pocket doors, an original clawfoot tub and unique cobble stone flooring in the lower level.

The listing says the house has mostly new windows, hardwood flooring and mechanicals.

It has been electrically rewired.

There’s also an en suite master bath, which the listing says is “brand new,” which is an unusual feature in a house from this era.

The house has 3 full bathrooms, including two on the second floor and one in the basement. (See the floor plan for more info on the layout.)

The listing says the kitchen is “newer” and “modern” with wood cabinets, a farmhouse sink and white appliances.

The house doesn’t appear to have central air however.

Originally listed in May 2019 for $995,000, it was reduced to $949,000 by August 2019 before being re-listed back at $995,000 in October.

It’s still listed at $995,000.

This house is in the middle of everything in Hyde Park. It’s within steps to the University of Chicago, the Lab School, shops and restaurants.

It hasn’t changed hands in 22 years.

Why isn’t this selling?

Madelaine Gerbaulet-Vanasse at Meliora Real Estate has the listing. See the pictures and floor plan here.

1224 E. 57th: 4 bedrooms, 3 baths, 2765 square feet

• Sold in July 1995 for $150,000
• Sold in August 1998 for $282,000
• Originally listed in May 2019 for $995,000
• Reduced
• Was listed in August 2019 for $949,000
• Raised
• Was listed in October 2019 for $995,000
• Currently listed at $995,000
• Taxes of $8424
• No central air
• No parking/garage
• Gas fireplace
• Bedroom #1: 19×12 (second floor)
• Bedroom #2: 17×11 (second floor)
• Bedroom #3: 12×10 (second floor)
• Bedroom #4: 10×8 (basement)
• Living room: 16×13 (main floor)
• Dining room: 15×13 (main floor)
• Family room: 26×21 (basement)
• Sunroom: 13×6 (main floor)
• Den: 13×8 (main floor)
• Kitchen: 21×11 (main floor)

This 2-bedroom duplex-up at 1515 S. Prairie in the South Loop came on the market in May 2019.

1515 S. Prairie was built during the last housing boom, in 2003, and has 186 units in a high rise and a low rise building.

It’s a full amenity building with a doorman, clubhouse and exercise room. It has an attached garage.

This unit is one of the rare low-rise units.

It has its own private entrance which opens into a foyer.

The first floor has the living/dining and kitchen along with a recessed balcony.

The second floor has both bedrooms and a second recessed balcony.

The listing describes the kitchen as “gourmet” with stainless steel appliances, quartz counter tops and a breakfast bar.

It has the features buyers look for including central air, washer/dryer in the unit and 2-car garage parking is available for $18,900 each.

Originally listed at $699,000 in May 2019, it has been reduced to $539,000 or $576,800 with the parking.

This unit was bank owned and sold from the bank in 2015 for $475,500, including the 2-car parking.

Will this unit sell for a premium over the 2015 price 5 years later?

Kevin Maloney at Exclusive Real Estate Services has the listing. See the pictures here.

Unit #201: 2 bedrooms, 2.5 baths, 2000 square feet, duplex up

• Sold in July 2003 for $606,000 including 2-car parking
• Sold in June 2008 for $650,000 including 2-car parking
• Sold in March 2011 for $612,000 including 2-car parking
• Lis pendens foreclosure filed in September 2013
• Bank owned
• Sold in August 2015 for $475,000 including 2-car parking
• Originally listed in May 2019 for $699,000
• Reduced
• Currently listed at $539,000 (2-car parking for $18,900 each) = $576,800 with the parking
• Assessments of $1174 a month (includes heat, a/c, gas, doorman, cable, clubhouse, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet access)
• Taxes of $10,689
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 17×16 (second floor)
• Bedroom #2: 14×10 (second floor)
• Living room: 18×16 (main floor)
• Dining room: 17×11 (main floor)
• Kitchen: 15×11 (main floor)
• Walk-in-closet: 11×7 (second floor)
• Foyer: 11×8 (lower level)
• Utility room: 9×3 (lower level)

This 3-bedroom duplex up loft at St. Michael’s Lofts at 1660 N. Hudson in Old Town came on the market in August 2019.

Built in 1928, St. Michael’s Lofts was a former high school until it was converted into lofts in the 1980s. It has 41 units and garage parking.

The building does not have a doorman but does have a shared rooftop deck.

This is a penthouse unit with 18 foot vaulted ceilings and skylights.

It has a balcony with views of St. Michael’s church.

There are 3 gas fireplaces.

The master bedroom is on the main floor with two other bedrooms and a family room on the second level.

The kitchen has maple cabinets and white appliances.

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

This unit has not been sold since the original buyer bought it in 1989.

The listing says it was “tenant occupied for 20 years.”

It also says to “bring your designers.”

Originally listed in August 2019 for $1.1 million, it has been reduced $240,100 to $859,900.

Is this priced low enough for a rehabber to take a chance?

William Karner at Re/Max Cityview has the listing. See the pictures and floor plan here.

Unit #3C: 3 bedrooms, 3.5 baths, duplex up, no square footage listed

• Sold in April 1989 for $260,500
• Originally listed in August 2019 for $1.1 million
• Reduced several times
• Currently listed at $859,900 (includes 2-car heated garage parking)
• Assessments of $1082 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,590
• Central Air
• Washer/dryer in the unit
• 3 gas fireplaces
• Balcony
• Bedroom #1: 19×14 (main floor)
• Bedroom #2: 24×14 (second floor)
• Bedroom #3: 13×8 (second floor)
• Laundry room: 15×8 (second floor)
• Family room: 20×19 (second floor)
• Dining room: 13×11 (main floor)
• Living room: 16×15 (main floor)
• Kitchen: 21×12 (main floor)

This 3-bedroom triplex loft in the Headley School Lofts at 2107 N. Magnolia in Lincoln Park came on the market in February 2018.

The Headley School Lofts is a conversion of an old public school. It has 12 lofts and attached heated garage.

The building has an elevator and a common roof deck.

The building was converted early in the loft craze, in 1987.

Some of you may remember this property. We chattered about this loft last September when it was listed under the 2007 and 2003 sales prices. But it was mysteriously yanked from the market the day we chattered about it.

See our chatter here.

It has now come back on the market with a “brand new renovation” which the listing calls “magazine caliber.”

The listing says this about the interiors:

INTERIOR ARCHITECTURE & DESIGN BY NATIONALLY RENOWNED KATE TAYLOR INTERIORS!

This triplex loft has southwest exposures and 13 foot ceilings with massive windows. It doesn’t appear to have other usual loft features that are found in old factories or industrial spaces like exposed brick.

The kitchen had white cabinets and stainless steel appliances and it has those again but it says everything is brand new.

It also has a blue tile backsplash.

The unit has brand new stone baths and the master bath has an oversized shower.

The master bedroom is on the main floor. In the old listing, it didn’t have full walls but it looks like it may now.

The second bedroom is lofted above the main living area and also has interior windows to the space below.

The third bedroom is in the lower level and now looks to have full walls which separates it from the family room.

There’s a walk-out terrace from the third lower level bedroom.

The loft has the features buyers look for including central air, side-by-side washer/dryer and heated garage parking is now included.

Originally listed at $849,500 in February 2018 it had been reduced numerous times to $649,500 plus $25,000 for the parking.

It’s now come back on the market after the renovation for $799,500.

Will the renovation finally get a sale?

Mario Greco at Berkshire Hathaway HomeServices still has the listing. See the pictures here. (sorry- no floor plan)

Unit #1B: 3 bedrooms, 2.5 baths, 2600 square feet, triplex

• Sold in February 1987 (no price listed)
• Sold in August 1991 for $324,000
• Sold in February 1998 for $350,000
• Sold in December 2003 for $715,000
• Sold in September 2007 for $760,000
• Originally listed in February 2018 for $849,500
• Reduced numerous times
• Was listed in September 2019 at $649,500 (garage parking is $25,000 extra)
• Withdrawn
• Renovated and re-listed in January 2020 for $799,500 (includes the parking)
• Assessments are still $742 a month (includes exterior maintenance, lawn care, scavenger and snow removal)
• Taxes are still $16,217
• Central Air
• Side-by-side washer/dryer
• Bedroom #1: 17×15 (main floor)
• Bedroom #2: 19×13 (second floor)
• Bedroom #3: 18×12 (lower level)
• Terrace: 13×8 (lower level)
• Family room: 27×18 (lower level)

The Illinois Association of Realtors is out with the December sales numbers, which were better than expected.

In the city of Chicago, home sales (single-family and condominiums) in December 2019 totaled 1,861 homes sold, up 9.0 percent from December 2018 sales of 1,708 homes.

The median price of a home in the city of Chicago in December 2019 was $278,500, up 10.7 percent compared to December 2018 when it was $251,500.

Last year, December was a disappointment with a 17% drop in sales as the stock market sold off sharply.

• December 2004: 3719 sales and median price of $267,000
• December 2005: 2847 sales and median price of $283,000
• December 2006: 2241 sales and median price of $279,000
• December 2007: 1629 sales and median price of $287,000
• December 2008: 1263 sales and median price of $235,000
• December 2009: 1820 sales and median price of $208,000 (34% short/REO sales)
• December 2010: 1475 sales and median price of $166,000 (43% short/REO sales)
• December 2011: 1536 sales and median price of $156,000 (44% short/REO sales)
• December 2012: 1806 sales and median price of $185,000 (39.7% short/REO sales- according to Gary Lucido’s data)
• December 2013: 2137 sales and median price of $210,000
• December 2014: 2020 sales and median price of $228,000
• December 2015: 2077 sales and median price of $242,000
• December 2016: 1974 sales and median price of $260,000
• December 2017: 2058 sales and median price of $265,500
• December 2018: 1708 sales and median price of $251,500
• December 2019: 1861 sales and median price of $278,500

2019 was the highest median home price for the month since 2007 which tells you the type of mix in what was selling in the month (hint: the more expensive properties).

Average time on the market statewide was 58 days down from 59 days a year ago.

The average 30-year fixed mortgage was 3.72% up from 3.7% in November, but down from 4.64% a year ago.

“An uptick in closed sales and median sales price is positive,” said Maurice Hampton, president of the Chicago Association of REALTORS® and owner of Centered International Realty. “We continue to see a drop in inventory, which means fewer homes are available. The increase in the median sales price reflects this.”

Inventory continues to be anemic even though the start of spring selling season is just a few weeks away. Where’s all the new listings?

“More temperate December weather and attractive mortgage rates set the state up for a strong finish to a year that has been marked by sales swings,” said Ed Neaves, president of Illinois REALTORS® and designated managing broker of Berkshire Hathaway HomeServices Snyder Real Estate in Bloomington. “Looking ahead, it is possible that 2020 will look a lot like 2019, as many of the same market dynamics, which include low inventories and attractive financing rates, will extend into the new year.”

“December provided one of the few months of 2019 when both sales and prices increased on a monthly and an annual basis, with sales increases reflecting national trends” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “While the national forecasts suggest continued growth of housing demand in 2020, the concerns in Illinois center on dampened employment growth and continued net out-migration.”

Old man winter remains in hibernation which is making it easier to shop for properties.

Will the hot December continue into January?

Illinois housing market ends year with December jump in sales, prices [Illinois Association of Realtors, Press Release, January 22, 2020]

This 5-bedroom duplex penthouse at 900 W. Washington in the West Loop came on the market in April 2019.

900 W. Washington is a new construction luxury building which has 22 units and a parking garage. It doesn’t have a doorman and no other amenities (such as an exercise room, pool etc.)

There are 2 penthouses.

Unit PH-902 sold in September 2019 for $5,719,999.

This penthouse has 2 massive terraces including a 43×10 south facing terrace and a 10×34 west facing terrace.

Four of the bedrooms are on the second floor with the fifth on the main level. The living/dining rooms and kitchen are also on the main level.

The kitchen has Scavolini cabinets and Subzero/Wolf appliances.

The baths are marble and Silestone with radiant heated polished concrete floors.

It has private elevator access.

The unit has central air and washer/dryer in the unit. Parking is available for purchase.

We first chattered about this building when the units were listed in April 2019. Back then, some of you thought the price points in this building, which were all above $1 million, were silly for the neighborhood.

See our April 2019 chatter here.

But the Unit PH-902 sale was the highest closing price ever for a property in the neighborhood.

Additionally, Dennis Rodkin at Crain’s just reported that a new construction luxury condo building on Peoria across from Mary Bartelme Park called “Peoria Green” originally was to have 20 units with 5 priced at $3 million to $3.5 million and 15 were to be much cheaper at $1.2 to $1.9 million.

But the developer sold 4 of the expensive units with weeks and late last year decided to redesign the building, adding 3 more expensive units over $3 million and are now selling just 9 at the lower price point.

With the 8 expensive units, they have sold all but one of the units over $3 million and haven’t even broken ground yet on the building.

From Crains:

At Peoria Green, the $3 million-and-up condos are 4,700 square feet with five bedrooms and 1,300 square feet of outdoor space. At under $2 million, they’re 2,350 square feet with four bedrooms and 240 square feet of outdoor space.

The larger units drew mostly buyers who have been living in the West Loop for a while and now have families, Robertson said. “They’ve been coming to us saying they want to stay in Skinner, but they can’t find something they like for north of $3 million.”

When the redesign was done, Robertson said, the sales team called some buyers who had previously missed out on the $3 million units and sold one quickly.

After a few early-January sales of lower-priced units, one Peoria Green unit is left to sell at $3 million-plus and one at a little over $1.67 million, Robertson said.

If the West Loop is the hottest luxury neighborhood in the city, which neighborhoods are they stealing upper bracket sales from?

Amy Pritchard at Jameson Sotheby’s has the listing. See the pictures here.

Unit PH-901: 5 bedrooms, 5.5 baths, 4949 square feet, duplex up

• Originally listed in April 2019 at $5.5 million
• Currently listed at $5.5 million
• Assessments of $1806 a month (includes security, exterior maintenance, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Parking is available
• Bedroom #1: 23×22 (second floor)
• Bedroom #2: 15×16 (second floor)
• Bedroom #3: 16×22 (second floor)
• Bedroom #4: 14×11 (second floor)
• Bedroom #5: 13×12 (main floor)
• Living/dining room: 32×33 (main floor)
• Kitchen: 28×16 (main floor)
• Walk-in-closet: 12×18 (second floor)
• Laundry: 8×5 (second floor)

This 2-bedroom at 474 N. Lake Shore Drive in Streeterville came on the market in February 2019.

This building was constructed in 1991 but wasn’t converted to condos until 2005-2006 during the housing boom.

It has 505 units and an attached parking garage with deeded parking. It’s a full amenity building with an indoor pool, exercise room, barbeque area and a steam room.

This unit has north and east views from the 33rd floor and has lake views.

The kitchen has cherry cabinets and granite counter tops along with stainless steel appliances.

There’s a master suite with an en suite bath and walk-in closet.

The listing says that there is new carpeting in the living room and bedrooms.

This unit has the features that buyers look for including central air, washer/dryer in the unit and indoor parking is available for $30,000 extra.

Originally listed in February 2019 at $535,000 it has been reduced $75,000 to $460,000.

That’s $85,000 under the 2006 selling price of $545,000, which didn’t appear to include the parking.

What will it take to sell this unit in 2020?

Joseph Guli at Coldwell Banker has the listing. See the pictures here.

Unit #3305: 2 bedrooms, 2 baths, 1275 square feet

• Sold in April 2006 for $545,000
• Originally listed in February 2019 at $535,000
• Reduced several times
• Currently listed at $460,000 (parking is $30,000 extra)
• Assessments of $970 a month (includes heat, a/c, doorman, exercise room, pool, exterior maintenance, scavenger, snow removal)
• Taxes of $8159
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 12×15
• Bedroom #2: 11×12
• Living room: 19×16
• Dining room: 14×9
• Kitchen: 13×8
• Laundry room: 7×4