Crib Chatter

This 1-bedroom in The Churchill at 1255 N. State Parkway in the Gold Coast just came on the market.

Built in 1924, it has 68 units and a doorman.

The listing describes this unit as an “elegant Parisian flat.”

It has hardwood floors throughout and an updated kitchen with white cabinets, stainless steel appliances and stone counter tops.

There’s an adjacent dining room.

The unit has French doors in the living room which lead to a small balcony with views of the John Hancock.

It has custom built closets in the master bedroom and an en suite bath.

While some units in this building have in-unit washer/dryer, this one does not. There is coin laundry in the building.

There’s also no central air. There are window units.

And there’s no parking with the unit, although there is a public lot across the street.

The assessment includes everything but the taxes.

For those looking for the elegance of the Gold Coast, is this unit the perfect choice?

Melanie Everett at Melanie Everett & Company has the listing. See the pictures here.

Unit #8J: 1 bedroom, 1 bath (no square footage listed but an old listing said it was 1000 square feet)

• Sold in July 1992 for $97,000
• Sold in May 2004 for $268,000
• Sold in May 2013 for $205,000
• Currently listed at $274,500
• Assessments of $1,167 a month (includes heat, electric, gas, doorman, cable, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $4832
• No washer/dryer in the unit. Coin laundry only.
• No central air. Window units only.
• No parking
• Bedroom: 12×16
• Living room: 21×14
• Kitchen: 7×11
• Dining room: 8×8

This 3-bedroom penthouse at Riverbend at 333 N. Canal on the Near West Side recently came on the market.

Riverbend was built in 2002 and has 148 units and a parking garage.

This building was built, literally, at the bend of the River.

For years, Wolf Point sat undeveloped across from Riverbend, but now there are two buildings and a third super skyscraper that will go up to complete that project.

This unit is one of two penthouses on the 37th floor.

It has 12 foot ceilings and 360 degree skyline, lake and river views. You can see many of Chicago’s iconic buildings including the Willis Tower and the new Vista.

The eat-in kitchen has dark cabinets with quartzite counter tops and integrated Thermador and Bosch appliances.

The master suite has a marble bath with separate vanities and a large shower along with a walk-in closet.

It has central air and washer/dryer in the unit. It also comes with one car garage parking and the option to buy two more spaces at $40,000 each.

But the unique feature about this penthouse are the two private verandas that measure 60×20 and 40×12 which have stunning city views.

Given that they are covered, you could actually use these even in inclement weather or on scorching heat searing days.

With Wolf Point now a “known” issue, and these fabulous views and terraces, will this sell quickly?

Jennifer Mills at Jameson Sotheby’s has the listing. See the pictures here.

Unit #3702: 3 bedrooms, 3.5 baths, 4163 square feet, penthouse

• The CCRD has been “down” two days in a row
• Sold in December 2011 for $1.589 million (according to Redfin)
• Currently listed at $2.499 million (includes 1-car garage)
• 2 car parking also available for $40,000 each
• Assessments of $2547 a month (includes gas, doorman, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $27,852
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 19×17
• Bedroom #2: 15×17
• Bedroom #3: 15×14
• Gallery: 9×26
• Terrace: 60×20
• Terrace #2: 40×12

This 2-bedroom corner loft in the Haberdasher Square Lofts at 728 W. Jackson in the West Loop came on the market in February 2019.

The Haberdasher Square Lofts has 266 lofts and a parking garage.

This loft has authentic loft features such as exposed brick and 12 foot concrete ceilings along with 40 feet of industrial windows.

The master bedroom has an en suite bath with subway tiles and double vanity.

The second bedroom is fully enclosed.

Both bedrooms have windows, which is rare for loft units.

It also has motorized window shades.

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

The loft has the other features buyers look for including central air, a sliding barn door which leads to an in-unit washer/dryer and garage parking is $25,000 extra.

But the big selling feature is the lush 20×20 private patio that has perennials in planters.

The loft came on the market in February at $499,000 and has been reduced $25,000 to $475,000 (if you include the parking.)

As the weather improves, will this private patio finally win over a buyer?

Megan Hagans at Coldwell Banker has the listing. See the pictures here.

Unit #314: 2 bedrooms, 2 baths, 1200 square feet

• Sold in April 2015 for $370,000
• Originally listed in February 2019 for $499,000
• Reduced
• Currently listed at $450,000 (parking is $25,000 extra)
• Assessments of $655 a month (includes heat, a/c, gas, doorman, cable, Internet, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes of $6480
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×12
• Bedroom #2: 11×10
• Terrace: 20×20

This 2-bedroom triplex loft in the Marshfield Lofts at 1740 N. Marshfield in Bucktown recently came on the market.

This exposed brick and timber corner loft has east and south exposures.

The listing says it has a “newly renovated kitchen” with white cabinets, quartz counter tops and a tile backsplash.

The master bedroom has an attached bathroom with a new vanity.

The second bedroom has 11 foot ceilings.

One bedroom is on the main floor and the second is on the lower level.

There’s also a lofted area.

It has a large balcony.

The loft has the features buyers look for including central air, washer/dryer in the unit and not just one, but two cars parking.

There’s an attached 1-car garage along with an additional parking space on the parking pad in front of the garage. Great for guests?

This building is located across from Walsh Park and the entrance to the fabled 606.

When the 606 first opened, nearby homes were super hot with buyers.

But several years in, does the 606 still drive sales?

Katie Kull Utterback at @Properties has the listing. See the pictures here.

Unit #4: 2 bedrooms, 2 baths, 1900 square feet, triplex

• Sold in October 1993 for $199,000
• Sold in December 1996 for $220,000
• Sold in June 2007 for $428,000
• Currently listed at $499,000
• Assessments of $483 a month (includes exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $7507
• Central Air
• Washer/dryer in the unit
• Attached garage parking and additional parking pad
• Bedroom #1: 14×12 (main level)
• Bedroom #2: 13×12 (lower level)
• Living room: 30×21 (second level)
• Loft: 12×8 (third level)

This top floor 2-bedroom in Cortina Court at 429 W. Aldine in East Lakeview came on the market in February 2019.

If it looks familiar, that’s because we chattered about it in 2016 where we discussed whether or not a vintage 2/2 with a garage could sell above $450,000.

See our chatter here.

If you recall, this building was constructed in 1926 and has 24 units, some of which have their own private heated garages.

It has 9 foot ceilings and many of its vintage features including crown molding and wainscoting.

There’s a gas fireplace in the living room.

Like many vintage units, it has a formal dining room, as well as a butler’s pantry.

One of the bedrooms has an attached bath.

In addition to the garage, the unit also has an in-unit washer/dryer. There’s no central air, however. There’s only window air conditioning units.

In 2016, we chattered about whether it would sell for over $450,000 with the parking.

It ended up selling for $448,000.

3 years later, it has come on the market at $479,900 plus $25,000 for the garage for a total of $504,900.

Is $500,000 the new price point for a vintage 2/2 in East Lakeview?

Duane Shumaker at Jameson Sotheby’s has the listing. See the pictures here.

Unit #9: 2 bedrooms, 2 baths, 1309 square feet

• Sold in September 2008 for $320,000
• Sold in April 2016, with a new kitchen, for $448,000 (included the parking)
• Originally listed in February 2019 for $479,900 plus $25,000 for parking
• Currently still listed at $479,900 plus $25,000 for parking.
• Assessments are now $517 a month (they were $469 a month in 2016)  (includes heat, cable, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes are now $5916 (they were $4765 in 2016)
• Washer/Dryer in the unit
• No central air- window units only
• Gas fireplace
• Bedroom #1: 15×10
• Bedroom #2: 13×11
• Dining room: 15×13
• Butler’s pantry: 13×8
• Living room: 17×16
• Kitchen: 13×8

This 2-bedroom multi-level loft at 626 W. Randolph in the West Loop came on the market in October 2018.

This building was converted into lofts in 1996.

It has 15 units and heated garage parking.

This unit has exposed brick and what looks like a timber ceiling in a multi-level layout.

The listing says there was a “new kitchen” put in in 2016 with wood cabinets, quartz counter tops and stainless steel appliances.

The listing says there is a balcony and a roof-top deck but there aren’t any pictures so I’m not sure what that means.

The loft faces east, so is the deck on top of the parking garage?

This property has the features buyers look for including central air, washer/dryer in the unit and attached heated parking.

This loft was bank owned by 2010 and then apparently sold at auction for just $160,500 in 2011.

Listed for $585,000 in October 2018, it hasn’t been reduced in 7 months.

The West Loop has dramatically changed since 2010.

This property is on the east side of the expressway and is blocks away from the French Market and the Fulton Market.

Will this loft get the big premium over the prior sales price?

Melanie Giglio at Compass has the listing. See the pictures here.

Unit #205: 2 bedrooms, 2 baths, 1500 square feet

• Sold in June 1996 for $180,000
• Sold in February 2004 for $289,000
• Lis pendens foreclosure filed in January 2009
• Bank owned in March 2010
• Sold in July 2011 for $160,500
• Originally listed in October 2018 for $585,000 (parking is included)
• Currently still listed at $585,000 (parking is included)
• Assessments of $324 a month (includes parking, security, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9329
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 16×16
• Bedroom #2: 20×12
• Foyer: 12×11

This 2-bedroom at 900 West at 900 W. Washington in the West Loop just came on the market.

This is a new construction building with 22 units and a garage.

It is built to blend in with the aesthetic of the neighborhood with black industrial looking floor to ceiling, sound resistant windows.

There is private elevator access.

It doesn’t look like there are any building amenities, however, such as an exercise room.

I’m also not sure if this is a doorman building. Nothing on the building’s website says there’s a doorman.

You can check out the web site here.

The prices range from this 2-bedroom unit at $1.1 million to a 4-bedroom penthouse listed at $5.5 million.

This 2-bedroom unit is just 1573 square feet.

The unit has radiant heating throughout the entire unit.

The kitchen has custom Scavolini cabinets and Subzero and Wolf appliances.

The baths have marble and silestone with polished concrete floors.

This building is at a whole new luxury price point for the West Loop.

Can it handle it?

And if the units sell quickly, will the West Loop become the next premier luxury address in the city?

Kelly Angelopoulos at Jameson Sotheby’s has the listings. You can see the pictures here.

There are also open houses on Saturday and Sunday from 1-4 PM.

Unit #302: 2 bedrooms, 2.5 baths, 1573 square feet

• New construction
• Currently listed at $1.1 million
• Assessments of $465 a month (includes gas, exterior maintenance, scavenger)- doesn’t appear to include a doorman
• Taxes are “new”
• Bedroom #1: 14×11
• Bedroom #2: 11×12
• Living room: 21×19
• Kitchen: 10×21

The Illinois Association of Realtors is out with the March home sales.

As expected, it was another year-over-year weak month. It was the 8th month in a row that home sales fell compared with the prior year.

And this was despite falling mortgage rates.

The city of Chicago saw year-over-year home sales decrease 13.6 percent with 2,025 sales in March, compared to 2,343 a year ago. The median price of a home in the city of Chicago in March was $291,450 down 6.1 percent compared to March 2018 when it was $310,500.

Historic data courtesy of G:

City of Chicago condo/TH/SFH closed totals March
year/closed/median/% REO-Short Sales
Year Closed Median %REO/SS
1997 1,226 $126,875
1998 1,540 $137,003
1999 1,766 $152,125
2000 1,793 $167,500
2001 1,800 $195,000
2002 2,112 $210,000
2003 2,261 $225,000
2004 2,772 $244,950
2005 2,822 $271,125
2006 3,000 $275,862
2007 2,399 $285,000
2008 2,098 $300,000
2009 1,219 $217,000 37%
2010 1,860 $207,750 38%
2011 1,481 $163,763 49%
2012 1,630 $170,500 44%
2013 1,894 $187,500
2014 1,875 $235,000
2015 2,173 $260,000
2016 2,149 $269,000
2017 2,546 $295,000
2018 2343 $310,500
2019 2025 $291,450

Was the Mayor’s race to blame?

“The data is reflective of a spring where buyers are being deliberate in their spending,” said Tommy Choi, president of the Chicago Association of REALTORS® and broker at Keller Williams Chicago – Lincoln Park. “With political uncertainty heading into the April run-off and new tax rules coming into play, buyers held back to see how it all shook out. As the spring selling season ramps up, we’ll start to see more activity again, although at a more measured pace reflective of the current consumer climate.”

Higher mortgage rates can’t be blamed like they were last fall when sales abruptly slowed as rates have actually been falling.

30-year fixed mortgage rates fell to 4.27% from 4.37% in February and were down from March 2018, when they averaged 4.44%.

“There are several things to consider when looking at the March data, not the least of which is that the time it took to sell a home once again decreased, indicating continued interest in homebuying,” said Ed Neaves, president-elect of  Illinois REALTORS® and managing broker of Berkshire Hathaway HomeServices Snyder Real Estate in Bloomington. “While statewide we saw positive median price growth last month, the upcoming spring sales season will test the extent of whether available housing inventory continues to drive market dynamics as it has for the past few years.”

Statewide, the average days on the market fell to 63 days from 65 days a year ago. It was 68 days in February.

Inventory declined 2.5% to 49,875 from 51,137 a year ago.

After 8 months of bad year over year comparisons on sales, can we still blame low inventory for the lackluster sales?

Or is it something else?

Illinois median home prices inched higher in March; sales and inventory slip[Illinois Association of Realtors, Press Release, April 23, 2019]

This 3-bedroom at 2521 N. Ashland in Lincoln Park just came on the market.

This building has 5-units and garage parking and was built just as the housing bust was hitting bottom, in 2011-2012.

We chattered about this building in 2012 as there were just a few new construction buildings that were coming on the market after several years of extreme distress in the market.

You can read our chatter here.

One of the comments about the kitchen finishes, which are white with marble counter tops, struck me as interesting.

jp3chicago commented:

“BTW this look is nice and refreshing however in 10 years it will be the same as looking at the light maple cabinets with a mid tan granite counters and a wood covered appliance package from 2000- 2004 era or the dark cherry rubbed maple cabinet paired with SS appliances and black countertops from 2004-2007 era. I do like it now but it will pass.”

It’s 7 years later (so not quite the 10 years he cites), but the white kitchen seems to be as strong as ever, only with the quartz counter tops.

This unit has “high end finishes” including millwork, trey ceilings, wainscoting and hardwood floors.

There’s custom window treatments and paint.

The kitchen has white cabinets, marble counter tops, a wine cooler, a custom tile backsplash, stainless steel appliances and a kitchen island with a breakfast bar.

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

It is next to Wrightwood Park and the listing says it’s in the Prescott school district.

Originally listed at $379,000, the prices were lowered on 2N and 2S to $349,900.

One commenter actually thought the price would have to be lowered another $20,000 for these to sell.

But this unit did sell in March 2012 for $350,000.

It has come back on the market 7 years later for $199,999 more, at $549,999.

The sister unit, which had the same finishes, Unit #2S, sold in June 2017 for $505,000.

Do you wish you had bought in 2012 too?

Ian Schwartz at Coldwell Banker has the listing. See the pictures here.

Unit #2N: 3 bedrooms, 2 baths, no square footage

• Sold in March 2012 for $350,000
• Currently listed at $549,999 (garage parking included)
• Assessments of $127 a month (same as they were in 2012)
• Taxes of $7574
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 15×13
• Bedroom #2: 14×10
• Bedroom #3: 11×9

This 2-bedroom in 2000 N. Lincoln Park West in Lincoln Park just came on the market.

This building was constructed in 1931 and has 195 units. Many of the units have Lincoln Park and lake views.

This building used to be apartments until it was converted into condominiums in 2004-2005 at the height of the boom.

The unit has 9 foot ceilings, crown moldings and automatic blinds.

The fireplace is decorative.

It has wood floors throughout.

The kitchen has dark wood cabinets, granite counter tops, stainless steel appliances and a wine fridge.

One of the bathrooms has a European spa bath with a steam shower.

The listing says it has individual HVAC and there’s an in-unit Bosch washer/dryer along with a garage parking space (does this building have a garage though?)

But the feature which makes this unit unique is that it is the ONLY unit in the building with a private outdoor terrace.

Measuring 15×25, it has Lincoln Park Zoo views (in fact, you can see the door to it in the picture above. It’s on the right.)

A vintage unit with a large terrace with lake/park views is rare.

Listed at $625,000, the other 2-bedrooms on the market in the building are listed at $495,000 and $440,000 (which is under contract).

But this is the first time this unit has been back on the market since the conversion of the building. It hasn’t been sold since 2006.

How much of a premium will someone pay for the terrace?

Tim Stassi at Dwell One Realty has the listing. See the pictures here (unfortunately, no floor plan is included)

Unit #302: 2 bedrooms, 2 baths, no square footage listed

• Sold in December 2006 for $617,500
• Currently listed at $625,000
• Assessments of $826 a month (includes doorman, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes of $4,855
• Central Air
• Washer/dryer in the unit
• Listing says there is garage parking- is it in the building?
• Decorative fireplace
• Bedroom #1: 15×12
• Bedroom #2: 14×12
• Dining room: 10×10 (is this the space off the kitchen?)
• What’s the room with the desks? It doesn’t appear to be listed in the listing. Is this the dining room?
• Kitchen: 9×16
• Living room: 15×21
• Laundry: 5×5
• Private terrace: 15×25