Crib Chatter

This 3-bedroom penthouse in Contemporaine at 201 W. Grand in River North came on the market in March 2019.

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.

It has 2-story 20 foot floor to ceiling windows that overlook the garden.

The kitchen has modern cabinetry with stainless steel appliances.

Last time we chattered about this property, it was a 2 bedroom unit and now it’s a 3 bedroom unit. Where’d they get the third bedroom?

You can see our 2013 chatter here.

It has central air, washer/dryer in the unit and 2 car parking is available for $65,000 each.

The last time this property was on the market it took 6 years to sell but that was during the housing bust, from 2007 to 2013.

With the upper bracket market the hottest in the city’s history, and the unique gardens, will this sell this year?

Niles Patel at Core Luxury Real Estate has the listing. See the pictures here.

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
• Currently listed for $3,095,000
• Assessments are now $2466 a month (they were $2000 a month in 2013) (doesn’t list what is included. There’s no doorman in this building.)
• Taxes are now $35,331 (they were $29,975 in 2013)
• 2-car garage parking is available for $65,000 (each???)
• Bedroom #1: 23×20
• Bedroom #2: 13×10
• Bedroom #3: 13×10
• Walk-in-closet: 25×20
• Terrace: 60×16

This 6-bedroom penthouse in 840 N. Lake Shore Drive in the Gold Coast came on the market in April 2019. (Did we decide that this area was Gold Coast and not Streeterville?)

Built in 2007, the building has 72 units on just 26 floors and a parking garage.

This is a true penthouse on the 26th floor with 8800 square feet of interior space and 1135 square feet of outdoor living including a 90×9 terrace and other smaller terraces.

It’s apparently all on one level.

It has multiple exposures including the Lake and city views as well as Navy Pier.

The listing says this unit was bought as raw space and custom designed.

It has 12 foot ceilings and multiple living and dining areas.

The 6 bedrooms are en suite with two half bathrooms.

There’s a great room in the rotunda.

The listing describes the kitchen, with white cabinets and counter tops as a “custom Boffi eat-in kitchen with a showcase wine cellar.”

It has central air, washer/dryer in the unit and 3-car garage parking is included.

It has come on the market at $13.5 million which makes it among the most expensive condos currently on the market in the city.

With both city and lake views, is this condo the best of all worlds?

Timothy Salm at Jameson Sotheby’s has the listing. See the pictures here.

Unit #2601: 6 bedrooms, 7 baths, 8800 square feet, penthouse

• The CCRD doesn’t list a prior sales price from 2007
• Currently listed at $13.5 million
• Assessment of $8542 a month (includes gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $60,143
• Central Air
• 3 car garage parking included
• Bedroom #1: 28×16
• Bedroom #2: 17×16
• Bedroom #3: 15×16
• Bedroom #4: 15×14
• Bedroom #5: 18×11
• Bedroom #6: 18×11
• Game Room: 17×20
• Exercise Room: 17×20
• Media Room: 15×12
• Laundry Room: 5×6

This 3-bedroom at 550 St Clair at 550 N. St. Clair in Streeterville just came on the market.

Built in 2008, just as the Great Recession and housing bust hit, it’s a modern building with floor-to-ceiling windows and exposed concrete ceilings with 111 units and a parking garage.

It also has an indoor pool and exercise room. (Is there a doorman? The assessment doesn’t list one.)

This unit is on the 24th floor which the listing says is the “penthouse level.”

It has south, east and west views from the floor-to-ceiling windows with automatic shades.

The unit has 11 foot concrete ceilings and two outdoor spaces including a 47 foot south facing terrace which has gas and water and a smaller balcony off of the master suite.

The listing says the master suite has been reconfigured. It now has a 14×10 custom built closet and a spa bath with a separate tub and walk-in shower.

The kitchen has custom modern Italian cabinets, an oversized 48′ Thermador refrigerator, Wolf and Miele appliances and a wine fridge.

This is a rare 3-bedroom unit that also has 3 full bathrooms.

The listing says it has a mud room (what’s with the mud rooms? Is that a thing now?)

It also has a separate laundry room, central air and 2 heated garage spaces are included with a third optional to purchase for another $30,000.

Could this make a good family home for someone looking for a larger 3-bedroom unit?

Natasha Motev at Jameson Sotheby’s has the listing. See the pictures here.

Unit #2402: 3 bedrooms, 3 baths, 3200 square feet

• Sold in April 2009 for $1.35 million
• Sold in September 2014 for $1.65 million
• Currently listed for $1.895 million
• Assessments of $2085 a month (includes heat, a/c, gas, parking, cable, Internet, exercise room, pool, exterior maintenance, scavenger)
• Taxes are $30,163
• Central Air
• Washer/dryer in the unit
• 2 heated garage spaces included with a third for sale for $30,000
• Bedroom #1: 18×16
• Bedroom #2: 15×13
• Bedroom #3: 13×12
• Terrace: 47×5
• Balcony: 9×4
• Laundry room: 7×6
• Walk-in-closet: 14×12

This 4-bedroom duplex penthouse in The Montgomery at 500 W. Superior in River North came on the market in February 2019.

The Montgomery was an office building that was converted into condos at the height of the boom in 2007.

Built in 1972 as part of the corporate headquarters of Montgomery Ward, its architect was Minoru Yamasaki who also designed the New York City’s World Trade Center at the same time.

It has 245 units and garage parking.

This unit is one of the south facing penthouses with views of the entire downtown skyline.

It has 4800 square footage of living space on two floors and 1000 square feet in an outdoor rooftop deck which has a built-in bar/grill and professional landscaping with irrigation.

The unit has been completely renovated and reconfigured from the 2017 sale. If you have a Redfin account, I encourage you to look at the “before” pictures.

It’s now a smart home with contemporary finishes such as a custom built central kitchen with dark modern cabinets along with Wolf and Subzero appliances.

The unit also has a unique feature which is a full second kitchen which is a “prep” kitchen. This is a common feature in homes of the wealthy who would likely have staff to prepare for dinner parties, events etc.

The master suite has two huge walk-in closets including a 400 square foot “hers” closet, with vanity and sitting area, and a 250 square foot “his” closet.

There are two other bedrooms on the main floor, with one that is an interior room which doesn’t have a window.

There’s also a 600+ wine cellar.

The second floor has a separate guest suite with its own kitchen and full bath which leads out to the terrace.

The unit has central air, washer/dryer in the unit and 2 side-by-side heated garage spaces.

Originally listed for $4.995 million, it has been reduced to $4.75 million.

Is this the coolest high rise penthouse on the market right now?

Mary Hanburger at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #2801: 4 bedrooms, 3.5 baths, 4800 square feet, penthouse

• Sold in January 2007 for $2,645,000
• Sold in September 2017 for $2,667,500
• Originally listed in February 2019 for $4,995,000
• Reduced
• Currently listed at $4,750,000
• Assessments of $3515 a month (includes heat, a/c, gas, doorman, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $41,357
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 18×23 (main level)
• Bedroom #2: 17×14 (main level)
• Bedroom #3: 11×13 (main level)
• Bedroom #4: 12×28 (second floor)
• 2nd kitchen: 18×8
• Laundry room: 7×8
• Terrace: 31×35

This 3-bedroom loft at 1235 W. George in West Lakeview came on the market in June 2019.

We’ve chattered about this complex in the past. It has 26 units and a heated garage and was converted in 1998.

Other properties in this complex had multiple levels and were basically townhouse-like lofts.

But this unit has its living space all on one floor.

It has the features of many lofts including 11 foot timber ceilings and exposed brick walls.

There’s a master suite with a stone bath and a walk-in-closet with a sliding barn door and a window.

The second bedroom appears to have a window while the third has French doors and a skylight.

The kitchen has 42 inch cherry cabinets, granite counter tops, stainless steel appliances and a breakfast bar.

It has two outdoor spaces including a small balcony and an interior staircase to a private rooftop deck which the listing says is a “maintenance-free” deck with water and gas lines.

This loft has central air, washer/dryer in the unit and a rare 2 deeded heated garage spaces.

It has come on the market just 16 months after the last sale for 15.8% more at $599,900.

With inventory so low, will they get the premium?

Nathan Brecht at Redfin has the listing. See the pictures here.

Unit #214: 3 bedrooms, 2 baths, no square footage listed

• Sold in January 1998 for $284,500
• Sold in June 2002 for $420,000
• Sold in October 2013 for $482,500
• Sold in February 2018 for $518,000
• Currently listed at $599,900
• Assessments of $329 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $8454
• Central Air
• Washer/dryer in the unit
• 2 deeded heated parking spaces included
• Bedroom #1: 14×12 (main floor)
• Bedroom #2: 11×11 (main floor)
• Bedroom #3: 10×9 (main floor)
• Deck: 21×15 (second floor)

This 6-bedroom brick bungalow at 2225 W. Lunt in West Ridge just came on the market (sorry- no picture but given the tightness of the market I wanted to post on it).

Built in 1923, it has 3620 square feet and a 3-car garage. The size of the lot isn’t listed.

The listing says it’s “completely remodeled.”

The kitchen has the current popular look with white cabinets, white counter tops and stainless steel appliances.

There are dark hardwood floors on the main floor.

It doesn’t appear that there are any of the original vintage features remaining.

The listing says the basement could be an in-law suite. It currently has a family room and 2 of the 6 bedrooms.

The master bedroom and another bedroom are on the second floor with two of the other bedrooms on the main floor.

The listing says tuck pointing and a new roof were done in April 2019.

The house has central air.

It’s come on the market at $679,000 after selling in 2017 for $200,000.

Is this price now the new reality for renovated homes in this far north side neighborhood?

Pauline Atou-Elia at Century 21 has the listing. See the pictures here.

2225 W. Lunt: 6 bedrooms, 3 baths, 3620 square feet

• Sold in November 2002 for $275,000
• Sold in May 2017 for $200,000
• Currently listed at $679,000
• Taxes of $7098
• Central Air
• 3-car garage
• Bedroom #1: 20×14 (second floor)
• Bedroom #2: 18×15 (second floor)
• Bedroom #3: 12×11 (main floor)
• Bedroom #4: 17×11 (main floor)
• Bedroom #5: 14×12 (lower level)
• Bedroom #6: 14×11 (lower level)
• Family room: 17×17 (lower level)

The Illinois Association of Realtors is out with the May sales and they fell again.

The city of Chicago saw year-over-year home sales decrease 5.0 percent with 2,895 sales in May, compared to 3,047 a year ago. The median price of a home in the city of Chicago in May was $315,000 up 3.3 percent compared to May 2018 when it was $305,000.

May Sales:

• May 2008: 2119 sales
• May 2009: 1557 sales
• May 2010: 2057 sales
• May 2011: 1705 sales
• May 2012: 2037 sales
• May 2013: 2834 sales
• May 2014: 2453 sales
• May 2015: 2750 sales
• May 2016: 2980 sales
• May 2017: 3046 sales
• May 2018: 3047 sales
• May 2019: 2895 sales

Median Price Data:

• May 2008: $319,500
• May 2009: $225,000
• May 2010: $230,000
• May 2011: $190,000
• May 2012: $203,000
• May 2013: $234,000
• May 2014: $269,250
• May 2015: $281,000
• May 2016: $290,750
• May 2017: $305,600
• May 2018: $305,000
• May 2019: $315,000

While this was the 10th straight month of housing sales declines, May of 2018 was the highest in 11 years.

“While closed sales have fallen, there’s reason for both buyers and sellers to be encouraged,” said Tommy Choi, president of the Chicago Association of REALTORS® and broker at Keller Williams Chicago – Lincoln Park. “Prices are still affordable and interest rates are historically low, as the market remains competitive, but stable. Buyers are gaining some breathing room in the transaction and sellers are having to be more measured in their approach.”

The average 30-year fixed mortgage payment fell to an average of 4.07%, down from 4.14% in April and down from 4.6% in May of last year.

It’s likely mortgage rates continued to fall into June, as well as the 10-year treasury sank further.

Statewide, the time it took to sell a home remained the same, at 49 days.

“While consumer sentiment has become more broadly positive nationally, Illinois consumers appear to be responding a little more conservatively,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “Housing sales continue to grow more slowly compared to prior years’ experience at this time of the year.”

No one is really talking about a tight inventory in the market anymore even though market times remain low.

Has the market simply reached peak sales for this cycle or is the 10-month year-over-year sales decline signaling other trouble for the housing market?

Illinois home sales moderate in May; median home prices post another gain [Illinois Association of Realtors, Press Release, June 21, 2019]

This 3-bedroom cape cod single family home at 4838 N. Seeley in Lincoln Square just came on the market.

If it looks familiar, that’s because we chattered about it back in 2011 when it was a “cottage.”

8 years ago, many of you thought it should be torn down and that no one would want to live in it as it needed work.

Homedelete argued in 2011:

“Besides being north of lawrence, this cottage is old. 1800’s old. who knows what’s behind those walls. is it worth even renovating? If it were a 2000 sq victorian, or in a great part of town – maybe. But here? for $366,000? There’s no basement to even finish. 1,300 sq ft of finished space is small for a SFH these days. That’s seems on the smaller side of a 2/2 condo too. There’s just not enough of a market for a $366,000 cottage like this. Heck if you want to live up near lawrence, go 24 blocks west and get this for $359,000.”

See our chatter here.

However, the vintage house remains and has been updated since the last sale.

If you recall, it was built in 1884 (though the new listing says 1900) and is on a standard 25×125 lot with a 2-car garage.

There are oak hardwood floors throughout.

The kitchen now has dark custom Italian cabinets with a glass backsplash, quartz counter tops, a custom dishwasher and refrigerator and a stainless steel stove.

One bedroom is on the main level with two on the second floor, which have barn doors.

There’s one full bath on the main level and a second one in the master bedroom on the second floor with modern vanities. The second floor bathroom has a full body spray shower.

The master bedroom also has walk-out roof access.

The house has the features that buyers look for including central air, a second floor laundry and the 2-car garage.

The backyard is landscaped and has a wood deck.

It even has a white picket fence.

In the 2011 chatter, JJJ thought it would sell for $290,000 and someone would live in it for years. Instead, it sold for $346,000, but someone has lived in it for 8 years.

It’s come back on the market for 80.6% more, or $625,000.

Will they get the premium?

Joshua Hecker at Redfin has the listing. See the pictures and the floor plan here.

4838 N. Seeley: 3 bedrooms, 2 baths, was 1280 square feet in 2011 and is now 1560 square feet

• Sold in October 1997 for $148,000
• Was listed in February 2011 for $389,900
• Sold in November 2011 for $346,000
• Currently listed at $625,000
• Taxes are now $8326 (they were $5660 in 2011)
• Central Air
• 2-car garage
• Bedroom #1: 12×14 (second floor)
• Bedroom #2: 13×14 (second floor)
• Bedroom #3: 10×8 (main floor)
• Living room: 22×14
• Dining room: 14×11
• Kitchen: 12×9

This 2-bedroom penthouse at 1437 W. Diversey in Lakeview came on the market in June 2019.

Built in 2009, it has 5 units and garage parking.

This single-floor unit is unique as it seems to take up the entire penthouse floor.

It has floor-to-ceiling windows, with automatic window shades, along with contemporary finishes including a concrete accent wall in the master bedroom and the living room.

There appears to be hardwood floors throughout.

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

The master suite has a walk-in closet and a master bathroom with dual vanities and a steam shower with rainfall head.

The second bedroom has access to the second full bath.

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

The listing says the whole home is wired for sound, including the 2 huge decks which stretch the length of the unit in both the front and the back of the property and total 1300 square feet.

The decks are private and have natural gas lines.

For those who love outdoor space, is this property a unique option compared to the normal rooftop deck on most penthouses?

Leigh Marcus at @Properties has the listing. See the pictures here.

Unit #PH4: 2 bedrooms, 2 baths, 1950 square feet

• Sold in June 2019 for $600,000
• Currently listed for $725,000
• Assessments of $200 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $13,315
• Central Air
• Washer/dryer in the unit
• 1300 square feet of decks
• Garage parking included
• Bedroom #1: 15×13
• Bedroom #2: 15×11
• Laundry room: 6×3
• Deck: 37×20
• Deck #2: 37×18

This 3-bedroom penthouse at 2919 N. Burling in Lakeview came on the market in March 2018.

If this building looks familiar, it’s because we chattered about it, and this very unit, back in 2015. You can see our chatter here.

If you remember, it was built in 1998 and has 9 units. In 2015, I couldn’t tell if it has an elevator (consensus last time was “no”) and this listing doesn’t list one either.

This unit has 11 foot ceilings and skylights along with a marble fireplace.

The listing says the unit has a chef’s kitchen, with white cabinets and white subway tiles along with stainless steel appliances, including a double oven.

It also has a trash compactor and built-in beverage center.

There’s a master suite with 2 walk-in closets and a spa-like master bath with a double vanity.

Do you like outdoor space?

It has 3 private outdoor spaces including a front terrace, a large back terrace and a private roof deck with skyline views.

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

Originally listed in March 2018 for $999,000, it has been reduced numerous times and is now listed at $899,900.

That’s below the 2016 selling price of $900,000.

It’s also just $14,900 above the 2014 sales price of $885,000.

It’s been a number of years since I was cribbing on properties that were listed under the prior sales price.

Are price increases starting to stall out in Chicago?

Michael Decker at Compass has the listing. See the pictures here.

Unit #J: 3 bedrooms, 2.5 baths, no square footage listed (but in 2015 it had 2800 square feet)

• Sold in March 1999 for $555,000
• Sold in July 2001 for $755,000
• Sold in February 2014 for $885,000
• Sold in May 2016 for $900,000
• Originally listed in March 2018 for $999,000
• Reduced numerous times
• Currently listed at $899,900
• Assessments are now $422 a month (they were $367 a month in December 2015) (includes exterior maintenance, lawn care, scavenger)
• Taxes are now $15,991 (they were $11,051 in 2015)
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 17×16
• Bedroom #2: 16×10
• Bedroom #3: 13×12
• Family room: 14×12
• Laundry room: 11×10