Crib Chatter

This 7-bedroom Queen Anne Victorian at 1904 W. Patterson in North Center has been on and off the market since April 2015.

We last chattered about it in May 2018 when the sales price had been cut nearly 50%.

Many of you liked the property and were surprised that it hadn’t sold after the price cuts. Icarus even said he would buy it after he won the lottery.

See our chatter here.

But it’s now 20 months later and the house is still available.

If you recall, it was built in 1891 on a bigger than standard 62.5 x 125 corner fenced in lot.

It has a large wrap around porch, a 3-car garage, a sport court and a brick and bluestone patio.

At 8,000 square feet, it has 7 bedrooms and the preferred layout buyers like, with the bedrooms on both the second and third floors.

There are no bedrooms in the basement.

There’s a lower level exercise room and sauna as well as a game room.

It also has an interesting feature in the top floor turreted room which was detailed in the prior listing but is no longer mentioned: an “office/smoking room with ventilation system.”

The house has an eat-in kitchen with white cabinets, stainless steel appliances and stone counter tops.

It has central air and 3 fireplaces as well as extensive wood work and moldings.

There’s a second level deck.

Originally listed in April 2015 for $3,999,999, it has been reduced numerous times and is now listed about 50% less at $1,899,000.

In 2018, the listing had it listed as being in Lakeview. But it’s clearly in the North Center neighborhood.

Is the neighborhood the problem?

What will it take to finally sell this property?

Jeff Lowe at Compass now has the listing. You can see the pictures here.

1904 W. Patterson: 7 bedrooms, 7.5 baths, 8000 square feet, 3 car garage

• Sold in November 1998 for $650,000
• Originally listed in April 2015 for $3,999,999
• Reduced
• Was listed in August 2016 at $2.55 million
• Reduced
• Was listed in May 2018 at $1.990 million
• Reduced
• Currently listed at $1.899 million
• Taxes are now $46,765 (they were $48,377 in May 2018 and $27,835 in August 2016)
• Central Air
• 3 fireplaces
• Bedroom #1: 20×16 (second floor)
• Bedroom #2: 21×16 (second floor)
• Bedroom #3: 14×13 (second floor)
• Bedroom #4: 12×12 (second floor)
• Bedroom #5: 17×16 (third floor)
• Bedroom #6: 13×12 (third floor)
• Bedroom #7: 11×10 (third floor)
• Turreted office/smoking room: 13×13 (third floor)
• Exercise room: 18×16 (lower level)

This 3-bedroom in the Astor Villa at 1430 N. Astor in the Gold Coast came on the market in August 2019.

The Astor Villa was built in 1972 and has 49 units and assigned parking. It has a doorman and exercise room.

We chattered about the sister unit to this one, #4C, back in September 2019. Both #4C and #5C were renovated with modern finishes.

Unit #4C sold in November 2019 for $600,000 but #5C remains on the market.

See our chatter here.

The listing says it has been “fully renovated with no detail missed” including hardwood floors.

The kitchen is “gourmet” and has Kitchen Aid appliances including double wall oven, separate cook top, custom cabinets, quartz counter tops and back splash.

The bathrooms are marble.

It has a 5o-foot long balcony facing Astor.

The unit has side-by-side washer/dryer, wall air conditioning units and assigned parking in the building, which the listing says is included.

The listing no longer talks about the special assessments for the roof deck, lobby, mezzanine and hallway renovations so those may have been completed by the building. Reserves are still $650,000.

Listed at $699,000, it has been reduced $99,100 to $599,900.

This unit is listed as a 3-bedroom, but appears to really be a 2-bedroom as the listing says the walls were removed for one of the bedrooms to create a more open floor plan.

If you’re a buyer looking for all the 3-bedroom units, this condo won’t suffice. For those looking for 2-bedrooms, this unit would never come across your search because it is listed as a 3-bedroom.

Could confusion over the bedrooms be hurting a sale of this condo?

Robert Picciariello at Prello Realty still has the listing. See the pictures here.

Unit #5C: 3 bedrooms, 2.5 baths, 1600 square feet

• Sold in April 1986 for $204,000
• Sold both #4C and #5C in January 2019 for $452,500
• Originally listed in August 2019 for $699,000
• Reduced
• Currently listed at $599,900 (assigned parking included)
• Assessments of $1828 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7490
• No central air. Wall air conditioning units.
• Side-by-side washer/dryer in the unit
• Bedroom #1: 17×12
• Bedroom #2: 14×11
• Bedroom #3: 14×10
• Living room: 22×15
• Dining room: 12×10
• Kitchen: 13×9
• Walk-in-closet: 13×9

This 2-bedroom penthouse at 1919 W. Crystal in Wicker Park just came on the market.

The building was constructed in 2009 and has 9 units and garage parking.

This unit is duplex up with the living/dining room and kitchen, along with one bedroom on the main floor, and the second bedroom and den on the second floor.

There are hardwood floors throughout.

There are 20-foot ceilings in the living room, with a lofted den overlooking the living room.

It has a floating staircase.

The kitchen has modern finishes including dark Arclinea cabinets, with Subzero and Miele appliances and quartz counter tops.

The bathrooms are limestone and marble with Hansgrohe, Duravit and Toto fixtures.

On the third floor is a private rooftop deck.

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

This building is in a prime Wicker Park location, just steps from the restaurants of Division Street as well as those at North and Damen.

Listed at $715,000, in the first re-sale of this unit since it was bought new in 2010, will this sell quickly?

Vikas Wadhwa at Urban Living Properties has the listing. See the pictures and floor plan here.

Unit #201: 2 bedrooms, 2 baths, 1725 square feet, duplex up

• Sold in October 2010 for $480,000 (per Redfin as CCRD doesn’t list a sales price)
• Currently listed at $715,000 (includes 1 car garage parking)
• Assessments of $328 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $11,653
• Central Air
• Washer/dryer in the unit
• Rooftop deck
• Bedroom #1: 14×13 (second floor)
• Bedroom #2: 11×10 (main floor)
• Living/dining room: 18×21 (main floor)
• Kitchen: 14×10 (main floor)
• Den: 10×18 (second floor)

This 3-bedroom in the Lincoln Park Villas at 1920 N. Clark in East Lincoln Park came on the market in January 2020.

The Lincoln Park Villas were built in 1974 and have 45 units and attached leased parking.

There’s no doorman.

This unit has east views of Lincoln Park from the 23×4 balcony and you can walk to the beach, zoo and the farmer’s market within minutes.

The listing says it had a complete gut rehab in 2018.

There are now European white oak floors throughout the main living areas.

The kitchen has white cabinets, stainless steel appliances and an L shaped quartz counter along with an adjacent breakfast bar and wine refrigerator.

There’s a large master bedroom with a walk-in-closet and a “spa-like” master bath with a rain shower big enough for 2.

The bathrooms have marble and quartz countertops.

There are motorized shades in the bedrooms.

This unit has in-unit washer/dryer and central air. Parking is leased in the building but it doesn’t say how much.

In addition to the private balcony that stretches the length of the living/dining room, according to the listing, the building rehabbed its own common rooftop terrace in 2017.

Located on the 18th floor, the rooftop terrace looks like a private hotel bar.

Listed at $649,000, and all the work already done to the unit, is this a deal for someone looking for a 3-bedroom in this neighborhood?

Michael Quinn at BQS Realty has the listing. See the listing here.

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

• Sold prior to the 1990s (I couldn’t find a price)
• Sold in December 2015 for $365,000
• Currently listed at $649,000
• Assessments of $899 a month (includes cable, Internet, scavenger, snow removal, security)
• Taxes of $9224
• Central Air
• Washer/dryer in the unit
• Leased parking in the building (no price listed)
• Bedroom #1: 17×11
• Bedroom #2: 12×10
• Bedroom #3: 10×11
• Living room: 23×18
• Kitchen: 12×17
• Balcony: 23×4

This 2-bedroom loft at 1259 N. Wood in Wicker Park came on the market in August 2019.

Converted into loft condos in 1997, this building has 30 units and parking.

It has 14 foot timber ceilings and exposed brick walls.

Both bedrooms are fully enclosed and have frosted windows to let in natural light, but neither has an actual outside window.

The kitchen has dark cabinets, stainless steel appliances, a kitchen island and Silestone counter tops.

The loft has an accent wall and powered blinds along with a private balcony.

It has the features buyers look for including central air, washer/dryer in the unit and parking is included (I can’t tell if it’s garage or just an outdoor spot.)

Originally listed in August 2019 at $449,000, it has been reduced $10,000 to $439,000.

After the financial crisis, Wicker Park was one of the hottest neighborhoods in the city.

Has Wicker Park lost its shine for condo buyers?

Michael Hogg at @Properties has the listing. See the pictures here.

Unit #307: 2 bedrooms, 1.5 baths, 1200 square feet, loft

• Sold in August 1997 for $168,000
• Sold in September 1999 for $214,000
• Sold in October 2001 for $278,000
• Sold in October 2009 for $230,000
• Sold in August 2010 for $370,000
• Originally listed in August 2019 for $449,000
• Reduced
• Currently listed at $439,000 (includes one car parking)
• Assessments of $324 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7515
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×12
• Bedroom #2: 14×10
• Living room: 20×14
• Kitchen: 18×14

This 3-bedroom penthouse at 711 W. Buckingham in East Lakeview was originally listed in March 2018.

This is a new construction 8 unit building with garage parking. There doesn’t appear to be an elevator.

The listing says it’s “extra wide” and has custom mill work.

The kitchen has white cabinets, white quartzite counter tops, and Subzero, Wolf and Bosch stainless steel appliances.

The bathrooms has Grohe and Kohler finishes.

As a penthouse, this unit has a 1600 square foot private roof deck.

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

Originally listed in March 2018 for $999,999, it has been reduced by $175,000 to $825,000.

It was also put on the market as a rental in December 2019 for $3700 a month.

At it’s new reduced price, is this now a deal?

Felicia Marinescu at Berkshire Hathaway has the listing. See the pictures and floor plan here.

Unit #4W: 3 bedrooms, 2 baths, 1900 square feet

• New Construction
• Originally listed in March 2018 for $999,999
• Reduced
• Currently listed at $825,000 (garage parking included)
• Was listed for rent in December 2019 for $3700 a month
• Assessments of $127 a month (includes exterior maintenance and snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×17
• Bedroom #2: 11×10
• Bedroom #3: 11×10
• Living room: 17×14
• Dining room: 13×10
• Kitchen: 13×10
• Laundry room: 15×5
• Rooftop deck: 21×77

This 4-bedroom penthouse in Hampden 73 at 2773 N. Hampden in East Lincoln Park came on the market in January 2018.

This is a new construction building with 30 units that fronts both Diversey and Hampden. It also has parking.

This building was constructed on the site of the old Market Place Foodstore, which had been in that location since 1927.

It’s a rare new construction mid-rise condo building in East Lincoln Park, although in 2019 we chattered about the building just to the south, 2753 N. Hampden, which is new construction at similar price points.

The listing says this is the only penthouse unit that remains available. Units have been closing so you can move right in.

The living space is all on one level with a top floor finished private roof top terrace measuring 1400 square feet.

The kitchen has Archicesto cabinets, Bosch appliances and a giant waterfall island.

In addition to the four bedrooms there is also a small office tucked into the 2053 square feet.

This building is in Alcott Elementary.

Are families buying these large units as a single family home replacement?

P. Corwin Robertson at Jameson Sotheby’s has the listing. See the pictures of the finishes in the building here.

Unit PH 2: 4 bedrooms, 3 baths, 2053 square feet

• New Construction
• Originally listed in January 2018
• Currently listed at $1.5 million
• 2 parking spaces available for $40,000 each
• Assessments of $375 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 15×16
• Bedroom #2: 11×11
• Bedroom #3: 12×11
• Bedroom #4: 11×11
• Office: 12×7
• Laundry room: 6×7
• Living/dining room combo: 23×17
• Kitchen: 10×13
• Rooftop terrace: 43×34

The Illinois Association of Realtors is out with the November sales data, and as expected, the Chicago market remains weak.

It was the worst November since 2014.

The city of Chicago saw year-over-year home sales decrease 10.4 percent with 1,659 sales in November, compared to 1,852 a year ago. The median price of a home in the city of Chicago in November was $270,000 up 3.2 percent compared to November 2018 when it was $261,745.

Here is the November sales data for the last 13 years (thanks to G for some of the data):

• November 2007: 1859 sales and median price of $290,000
• November 2008: 1093 sales and median price of $222,500 (16% short/REO sales)
• November 2009: 1905 sales and median price of $215,000 (29% short/REO sales)
• November 2010: 1144 sales and median price of $182,500 (39% short/REO sales)
• November 2011: 1429 sales and median price of $157,000 (43% short/REO sales)
• November 2012: 1750 sales and median price of $180,000
• November 2013: 1844 sales and median price of $200,000
• November 2014: 1638 sales and median price of $230,000
• November 2015: 1661 sales and median price of $233,500
• November 2016: 1937 sales and median price of $260,000
• November 2017: 1959 sales and median price of $256,000
• November 2018: 1852 sales and median price of $261.745
• November 2019: 1,659 sales and median price of $270,000

“When you see an inventory decrease, like we did last month, you’ll likely also see a decline in closed sales, as well,” said Maurice Hampton, president of the Chicago Association of REALTORS® and owner of Centered International Realty. “Both are accompanied by a decline in days on market and uptick in median sales price. Clearly, the demand is there, but inventory isn’t.”

Mortgage rates continue near record lows as the 30-year fixed rate averaged 3.7% in November, up from 3.69% in October. It averaged 4.9% in November 2018.

Statewide, number of days on the market fell 1.9% to 53 days.

“Increases in new home starts in November provide some optimism that continued national employment growth and low interest rates will contribute to addressing the low inventory problem” said  Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “There is some cautious optimism about an increase in first-time buyers in 2020 as well as the strong increase in contract signings in recent months in both Illinois and Chicago.”

November 2017 was the best November in 10-years.

The following 2 years have been weaker.

Is the decline in sales a cause of concern?

Or will it get hot once the spring inventory comes back on the market?

Illinois median home prices climb higher in November; sales lower (Press Release, December 19, 2019, Illinois Association of Realtors)

This 3-bedroom triplex loft in the Epicenter Lofts at 1000 W. Washington in the West Loop came on the market in October 2019.

Epicenter Lofts was built in 1910 and has 183 units and a parking garage.

It is one of the few West Loop loft buildings that actually has a doorman.

This loft has 30 foot concrete ceilings and bedrooms on three levels.

The layout means it had two bedrooms “open” to the lower level but the current seller has closed off one of those bedroom (the master suite?) with floor to ceiling black industrial windows.

The top floor bedroom appears to still be open to the room below.

The kitchen has white cabinets and a black island with a stone countertop, a tile backsplash and stainless steel appliances.

The master suite has a custom built-out closet.

There’s also a bedroom on the first floor.

It has a large new roof deck with built-in seating, turf area and a fire pit.

There’s also a balcony off the living room.

The loft has central air, washer/dryer in the unit and a heated parking space is included.

Originally listed in October 2019 at $1.15 million, that’s $400,000 above the 2017 selling price of $750,000.

Is this neighborhood still hot heading into 2020?

Nathan Binkley at Compass has the listing. See the pictures here.

Unit #515: 3 bedrooms, 2 baths, triplex, 2400 square feet

• Sold in January 1998 for $340,000 (included the parking)
• Sold in November 2010 for $369,000 (included the parking)
• Sold in November 2017 for $750,000 (included the parking)
• Listed in October 2019 for $1.15 million (includes 1 car parking)
• Assessments of $1099 a month (includes doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $13465
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 20×15 (second floor)
• Bedroom #2: 19×14 (third floor)
• Bedroom #3: 13×11 (main floor)
• Living room: 20×19
• Dining room: 10×9
• Kitchen: 11×9
• Roof top deck: 15×38 (third floor)

This 3-bedroom duplex penthouse in Grand Plaza at 545 N. Dearborn in River North just came on the market.

Grand Plaza was built in 2003 but it wasn’t converted into condos until 2005.

It has 283 units over a rental parking garage.

Floors 30 through 36 were marketed during the boom as the “Grand Plaza Penthouses.”

This unit, however, actually IS on the 36th floor which would make it a true penthouse floor.

It has 26-foot floor-to-ceiling windows with 180 degree views and a wraparound terrace.

This unit was recently sold in June 2019. It’s kitchen and baths have since been renovated.

The kitchen now has natural wood cabinets from OneSkin, Macauba Quartset Countertops, a mosaic backsplash and Professional Grade stainless steel appliances, including a 5-burner gas range with hood. The refrigerator has a built-in Keurig coffee maker.

Two of the three bedrooms are on the second floor including the master suite which has a spa bath.

In the June 2019 listing, the unit was a 2-bedroom with an office. An office was open to the lower level living room and the listing noted that it could be closed for a third bedroom.

It appears that’s what has happened here as all three bedrooms have full walls, and windows.

Grand Plaza is a full amenity building. As the listing states:

“As a Resident, you can Enjoy the Full Plaza Hotel like Experience Which Includes the Absolute Highest Level of Amenities. 24hr Door Staff, Fitness Center, Running Track, Outdoor Pool, Basketball Court, Sauna, Steam Room, Dog Run, Dry Cleaners and a Package Room.”

It has central air, washer/dryer in the unit and there is rental parking in the building.

This penthouse has come on the market for $1.2 million, or $425,000 more than the June 2019 sale of $775,000.

A couple of years ago, a kitchen and bath renovation was guaranteed to make a quick sale.

Will it still be true in 2020?

Amir Fouad at @Properties has the listing. See the pictures here (the June 2019 listing has the floor plan).

Unit #3603: 3 bedrooms, 2 baths, 2903 square feet (although it was 2311 square feet in the June listing)

• Sold in October 2005 for $1,202,000
• Sold in June 2019 for $775,000
• Currently listed at $1.2 million
• Assessments of $2,216 a month (includes heat, a/c, gas, doorman, cable, Internet, clubhouse, exercise room, pool, exterior maintenance, scavenger, snow removal)
• Taxes of $19,869
• Central Air
• Washer/dryer in the unit
• Rental parking in the building
• Gas fireplace
• Penthouse
• Bedroom #1: 15×14 (second floor)
• Bedroom #2: 17×12 (main floor)
• Bedroom #3: 17×12 (second floor)
• Living/dining combo: 25×25 (main floor)
• Kitchen: 15×10 (main floor)