Crib Chatter

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)

This 4-bedroom vintage row house at 47 E. Division in the Gold Coast came on the market in March 2018.

Built in 1886, it has 4800 square feet on a smaller than normal Chicago lot measuring 16×86.

It has an attached 1-car heated garage and a rooftop deck with a built-in gas grill.

There are heated floors in the kitchen which has custom white cabinets, a wood island and Subzero and Wolf appliances.

There’s a library on the second floor with wood wainscoting and a family room on the main level.

The master bedroom is on the second floor, two more bedrooms are on the third floor and the fourth bedroom is in the lower level and is currently being used as a media room.

The house has central air and a Sonos sound system is included.

Originally listed in March 2018 at $2.49 million, it has been reduced $300,000 to $2.19 million.

Buyers like “new.”

Why isn’t this home selling?

Brenda Coletto at Coldwell Banker has the listing. See the pictures here.

47 E. Division: 4 bedrooms, 4.5 baths, 4800 square feet

• Sold in June 1999 for $900,000
• Sold in January 2001 for $775,000
• Lis pendens foreclosures filed in 2011 and 2012
• Judicial county sale in January 2013
• Sold “as is” in April 2014 for $1.95 million
• Originally listed in March 2018 for $2.49 million
• Reduced several times
• Currently listed at $2.19 million
• Taxes of $38,000
• 1-car heated attached garage included
• Central Air
• 3 fireplaces
• Bedroom #1: 18×11 (second floor)
• Bedroom #2: 15×15 (third floor)
• Bedroom #3: 15×11 (third floor)
• Bedroom #4: 15×16 (lower level)
• Family room: 22×11 (main level)
• Library: 18×11 (second floor)
• Laundry room: 8×8 (second floor)
• Rooftop deck: 22×11 (fourth floor)

This 3-bedroom penthouse at 1611 N. Hermitage in Bucktown came on the market in October 2019.

Built in 2015, it has 17 units, garage parking and an elevator.

The elevator opens directly into this penthouse unit.

The listing says this condo has a square floor plan versus the more common “bowling alley” type floorplan.

It has 47 feet of floor to ceiling windows with unobstructed views of the city and a front terrace spanning that entire 47 feet, with a partial cover pergola.

The master suite also has its own 17×36 terrace off the back of the unit.

The private rooftop terrace is accessed by an interior staircase and has decorative pergolas, wainscoting, composite decking, a watering system, electric, gas and custom planters along with skyline views.

The listing says there is 2100 square feet in the interior and 2100 square feet of exterior space.

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

Of the other 2 bedrooms, it looks like one is interior and doesn’t have a window and is currently being used as a den.

The unit has the other features buyers look for including central air, washer/dryer in the unit and 2-deeded parking spaces, although I can’t tell if that’s included in the price or not.

If you’re a fan of outdoor space but love condo living, is this a dream home?

Sophia Klopas at BerkshireHathaway Homeservices has the listing. See the pictures here (no floor plan).

Unit #405: 3 bedrooms, 2 baths, 2200 square feet (although the listing also says the interior is 2100 square feet)

• I can’t find a prior sale. Did it ever sell originally?
• Originally listed in October 2019 for $1.29 million
• Currently still $1.29 million
• Assessments of $887 a month (includes gas, parking, scavenger)
• Taxes of $20,664
• Central Air
• Washer/dryer in the unit
• Fireplace
• 2 deeded parking spaces (included or not?)
• Bedroom #1: 18×14
• Bedroom #2: 15×13
• Bedroom #3: 15×11
• Foyer: 12×10
• Living room: 30×18
• Kitchen: 16×18
• Laundry room: 5×6
• Terrace: 47×6 (front)
• Terrace: 17×36 (back)
• Terrace: 47×22 (rooftop)

This 5-bedroom loft at 1421 S. Wabash in the South Loop came on the market in October 2019.

It’s just a 5-unit building but has an elevator and heated garage parking.

This is the top floor penthouse and has authentic loft features including 24 foot exposed brick walls and a timber ceiling.

The kitchen has white cabinets and stainless steel appliances.

It has a wet bar.

The listing says there’s a fully enclosed porch and skylights.

There’s surround sound, central air, and in-unit washer/dryer.

Being the penthouse, it has roof rights where the listing says a 2500 square foot deck can be added.

The listing also says it was featured by Oprah and designed by Nate Berkus. (Does this matter anymore? That would have been ages ago.)

The loft has central air and heated garage parking.

Originally listed at $1,025,000, it has been reduced $25,100 to $999,900.

It last sold less than 2-years ago for $950,000.

Will they get the premium in this market?

Emily Phair at Keller Williams Lincoln Park has the listing. See the pictures here.

Unit #3E: 5 bedrooms, 4 baths, 3800 square feet, duplex up

• Sold in December 1999 for $492,500
• Sold in June 2006 for $1,011,000
• Sold in March 2014 for $885,000
• Sold in January 2018 for $950,000
• Originally listed in October 2019 for $1,025,000
• Reduced
• Currently listed at $999,900 (includes 1-car heated garage parking)
• Assessments of $445 a month (includes exterior maintenance, scavenger)
• Taxes of $16,644
• Central Air
• Washer/dryer in the unit
• Roof rights
• Bedroom #1: 21×20
• Bedroom #2: 17×9
• Bedroom #3: 15×9
• Bedroom #4: 17×9
• Bedroom #5: 13×14
• Laundry room: 9×7

This 3-bedroom in Benjamin Marshall’s Gold Coast masterpiece at 1544 N. State Parkway came on the market in May 2019.

1550 N. State Parkway was constructed in 1912 and has just 32 units. It’s exterior is covered in limestone.

It has a doorman but no parking.

The building also has a shorter side building with maisonettes at 1544 N. State Parkway. This unit is one of those maisonettes.

The units don’t have the same tall ceilings and vintage features as the main building.

We’ve actually chattered about this unit several times in the past, with the last time in July 2012.

See our chatter here.

It was a short sale for several years and appears to finally have sold in an auction from the bank in 2016.

It’s now been renovated and has a new kitchen and baths.

The listing calls it a “dream kitchen and wet bar” with European materials with 10 foot island and full counters and backsplash in Taj Mahal Quartzite. It has Thermador appliances with “touch open” technology.

The bathrooms have custom vanities.

There’s a decorative fireplace, built-ins and some vintage crown molding in the living/dining room.

It has baseboard heating but it’s unclear about central air. The listing says there isn’t any.

It does have in-unit washer/dryer but no parking.

The unit was originally listed at $1,049,999 in May 2019 and has been reduced $130,999 to $919,000.

Buyers love renovated properties.

Why isn’t this selling?

Marcello Navarro at Compass has the listing. See the pictures here.

Unit #A3: 3 bedrooms, 2 baths, 1850 square feet

• Sold in January 1988 for $289,000
• Sold in June 1997 for $335,000
• Sold in April 1999 for $442,000
• Sold in January 2004 for $865,000
• Sold in July 2006 for $950,000
• Originally listed in November 2009 for $1.135 million
• Lis pendens filed in May 2011
• Sold in March 2016 for $413,500
• Originally listed in May 2019 for $1,049,999
• Reduced several times
• Currently listed at $919,000
• Assessments are now $2169 a month (they were $1947 a month in 2012) (includes ?- it’s not listed except in listing remarks)
• Taxes are now $20,588 (they were $13484 in July 2012)
• No central air?
• In-unit washer/dryer
• No parking – rental nearby
• Decorative fireplaces
• Bedroom #1: 17×14
• Bedroom #2: 14×13
• Bedroom #3: 11×8
• Living room/Dining room: 23×17
• Kitchen: 17×11
• Bar: 10×5