Crib Chatter

This 3-bedroom in Grace Pointe at 3808 N. Lincoln in North Center recently came on the MLS.

Grace Pointe is a new construction 15-unit boutique building that includes a parking spot for each unit.

It has an elevator and the top floor units have rooftop decks.

While this boutique style of construction is common on the north side, this building has a different exterior style than we’ve been seeing.

It has a brick façade and industrial style windows that are designed to appear almost like it was a repurposed factory. Most of the recent new construction has been the “modern” look.

All units are 3-bedrooms with 2 bathrooms.

They range in price from $649,000 to $795,000. The most expensive units are on the top floor because they have rooftop decks.

7 of the units are already under contract.

The units have luxury finishes including white kitchen cabinets, quartz counter tops and a Thermador appliance package.

They also have heated floors.

Of course they have the other standard finishes buyers look for including washer/dryer in the unit and central air.

This building is kitty-corner from the North Center Trader Joe’s and just a few blocks from the Addison El line stop.

The listing says the building is in the Bell school district.

Are families the buyers of these units?

Jeff Lowe at Compass has all the listings. You can see the builder pictures and floor plan here.

You can also see the Grace Pointe website here.

Unit #401: 3 bedrooms, 2 baths, 1760 square feet

• Currently listed at $795,000
• Assessments of $300 a month (includes scavenger)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Bedroom #1: 16×12
• Bedroom #2: 13×10
• Bedroom #3: 12×10

This 5-bedroom McCormick Seminary row house at 852 W. Chalmers in Lincoln Park first came on the market in July 2017 but was recently re-listed again.

Built between 1884 and 1889, these row houses make up the McCormick Row House District. They are found on both Fullerton and Belden as well as Chalmers Place, which is the secret street in between.

They were apparently originally built to provide rental income for the nearby McCormick Theological Seminary.

They were designated Chicago Historic Landmarks in the 1970s. That means they cannot be torn down.

There are 56 total homes and there is an HOA fee.

This row house faces south and overlooks the private park on Chalmers which, in the winter, has a private small ice rink.

This property still has some of its vintage features like crown molding, high ceilings, pocket doors and one of the original wood burning fireplaces.

At 5300 square feet, and on a 25×110 lot, it is big enough to have a second floor library with custom oak bookcases.

Two bedrooms are on the second floor and three are on the third level, along with a bathroom.

The master suite is on the second floor and has a walk-in closet and a “brand new” marble bath with double vanities and a shower with body spray and rain head.

The finished basement has a family room, a work room and a second kitchenette and full bath.

The kitchen has what looks like wood cabinets, granite counter tops and stainless steel appliances along with a butler’s pantry.

It has space pak cooling, two skylights and 2-car outdoor parking, presumably on Chalmers as none of the row houses have garages. The parking on Chalmers is private.

There’s also a landscaped back yard which has one of the prettiest alleys in the city behind it.

Originally listed in July 2017 for $1.7 million, it has been reduced $152,000 to $1.498 million.

In July 2018, it was also available for rent.

These row houses are unique.

Will this new price finally sell this one?

Melissa Edidin at @Properties has the listing. It is also agent owned. See the pictures and the floor plan here.

852 W. Chalmers: 5 bedrooms, 3.5 baths, 5300 square feet

• Sold in April 1990 (no price listed in the CCRD)
• Originally listed in July 2017 for $1.7 million
• Reduced
• Was $1.55 million in June 2018
• Withdrawn
• Available for rent in July 2018 at $9500 a month
• Reduced to $8,000 a month
• Withdrawn in October 2018
• Re-listed in March 2019 at $1.498 million
• Assessments of $108 a month (includes lawn care, snow removal)
• Taxes of $22,716
• Space pac cooling
• 2 exterior parking spaces included
• Bedroom #1: 14×16 (second floor)
• Bedroom #2: 13×19 (second floor)
• Bedroom #3: 14×19 (third floor)
• Bedroom #4: 14×15 (third floor)
• Bedroom #5: 11×11 (third level)
• Library: 10×18 (second floor)
• Family room: 12×37 (lower level)
• Work room: 34×9 (lower level)
• Laundry room: 6×7 (second floor)
• 2nd Kitchen: 7×10 (lower level)

The Illinois Association of Realtors is out with the February sales numbers.

Was January a one-off bad month or did it continue for a second month?

The city of Chicago saw year-over-year home sales decrease 7.4 percent with 1,422 sales in February, compared to 1,535 a year ago. The median price of a home in the city of Chicago in February was $273,900 up 0.7 percent compared to February 2018 when it was $272,000.

Here is the sales data for February going back to 1997 (courtesy of G).

• 1997: 881 sales
• 1998: 991
• 2000: 1383
• 2001: 1151
• 2002: 1677
• 2003: 1566
• 2004: 1814
• 2005: 2228
• 2006: 1855
• 2007: 1703
• 2008: 1454
• 2009: 870
• 2010: 1257
• 2011: 1092
• 2012: 1250
• 2013: 1411
• 2014: 1361
• 2015: 1497
• 2016: 1567
• 2017: 1529
• 2018: 1535
• 2019: 1422

Here is the Median Price Data also going back to 1997 (thanks G!):

• 1997: $117,000
• 1998: $132,000
• 1999: $143,750
• 2000: $161,500
• 2001: $180,200
• 2002: $212,000
• 2003: $215,000
• 2004: $229,900
• 2005: $268,900
• 2006: $267,500
• 2007: $270,000
• 2008: $290,000
• 2009: $218,125 (with 31% being REO/Short Sales)
• 2010: $176,000 (with 46% being REO/Short Sales)
• 2011: $150,250 (with 50% being REO/Short Sales)
• 2012: $140,300 (with 52% being REO/Short Sales)
• 2013: $158,000
• 2014 $175,000
• 2015: $212,000
• 2016: $236,000
• 2017: $246,000
• 2018: $272,000
• 2019: $273,900

“February’s data is in line with what we have come to expect as our market shifts,” said Tommy Choi, president of the Chicago Association of REALTORS® and broker at Keller Williams Chicago – Lincoln Park. “Even though closed sales are down, median sales prices ticked up and both inventory and days on market declined, showing that, as we enter the spring market, buyers on the hunt are eager to take advantage of lower interest rates and are serious once they find their desired home.”

The 30-year fixed mortgage rate averaged 4.37% in February, down from 4.46% in January but similar to February 2018.

The more important thing is that mortgage rates have continued to decline in March and are down significantly from last fall, when home sales slowed sharply.

“Housing prices continue their slow but steady increase,” said Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory at the University of Illinois. “However, year-over-year sales exhibit negative trends for the next three months although month-to-month changes are forecast to be very positive.”

Statewide, the average time to sell a home fell to 68 days from 71 days a year ago. Available statewide inventory also slumped 3% to 47,711 homes for sale from 49,193 homes in February of last year.

February sales appear to have peaked 4 years ago.

Is it still “low inventory” that’s the problem?

And if so, why aren’t the builders building more homes?

Illinois median home prices held steady in February; home sales lower but demand is strong [Illinois Association of Realtors, Press Release, Mar 22, 2019]

This 2-bedroom in the Oakdale Towers at 431 W. Oakdale in East Lakeview just came on the market.

Built in 1928 (just before the Great Depression hit), Oakdale Towers has 57 units with 2 units per floor.

This unit has 270 degree views with windows with 3 exposures.

At 1800 square feet, it has the grand spaces of older vintage apartments including a grand gallery and a dining room with 10 foot ceilings.

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

The unit has space pac but no in-unit washer/dryer. There is coin laundry in the building.

It also doesn’t have parking but there is garage parking available across the street for $150 a month.

There are two other units for sale in the building and both are under contract.

For vintage lovers, is this space a deal in this location?

Peter Kozera at Real People Realty has the listing. See the pictures here.

Or see it in person at the Open House on Saturday, Mar 23 from 11- 1 PM.

Unit #13D: 2 bedrooms, 2 baths, 1800 square feet

• Sold in September 1991 for $190,000
• Sold in June 1998 for $275,000
• Sold in April 2005 for $380,000
• Sold in October 2014 for $392,500
• Currently listed at $454,900
• Assessments of $970 a month (includes heat, gas, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $6842
• Space pac cooling
• No in-unit washer/dryer but coin laundry in the building
• No parking but garage parking across the street for $150 a month
• Bedroom #1: 16×15
• Bedroom #2: 15×14
• Dining room: 17×15
• Living room: 24×14
• Gallery: 27×7

This 2-bedroom at 1020 W. Armitage in Lincoln Park came on the market in February 2019.

Built in 1995, the building has 6 units.

This unit is on the second floor and stretches the length of the building which includes a private 350 square foot front facing deck.

You can access the front facing deck, which has been updated with Trex Transcend decking, from both the living room and the master bedroom.

There are dark hardwood floors throughout.

The kitchen has dark painted cabinets, quartz counter tops and stainless steel appliances.

The master suite has Ann Sacks tile, Kalista fixtures, a walk-in-closet and a dual vanity in the bathroom.

The listing says the second bath feels like a “hotel spa” with Kalista, Kohler and Ann Sacks tile.

It has central air and probably a washer/dryer in the unit (but it doesn’t say it does- so it’s unclear).

The unit doesn’t have deeded parking, however. It says there is “rental parking around the corner” for $350 a month.

With the brown line El stop at Armitage just a block away, do you have to have a car to live in this location?

Jamie Connor at Compass has the listing. See the pictures here.

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

• Sold in October 1998 for $302,000
• Sold in August 2003 for $420,000
• Sold in December 2007 (no price listed on the CCRD)
• Originally listed in February 2019 for $699,000
• Currently still listed for $699,000
• Assessments of $284 a month (includes exterior maintenance, scavenger)
• Taxes of $9139
• Central Air
• Washer/dryer in the unit?
• No parking- it’s available for rent around the corner for $350 a month
• Bedroom #1: 18×12
• Bedroom #2: 12×10
• Living room: 22×16
• Deck: 36×10
• Walk-in-closet: 8×8

This 2-bedroom duplex up in Park Place at 600 N. Kingsbury in River North originally came on the market in May 2018.

Built in 2002, it has 163 units and a parking garage.

Some of the low floor units on the river, however, were constructed almost like townhouses with levels.

This is one of those units.

The kitchen, living room and dining area as well as one bedroom are on the main floor.

It has a 2-story wall of glass windows which overlooks the river as well as hardwood floors on the main level.

The master suite takes up the entire second level and it overlooks the 2-story wall of windows (loft style).

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

The listing says “BRAND NEW PAINT THROUGHOUT” (in capital letters). Was the paint a problem when it was on the market last year?

Originally listed at $600,000, it has been reduced $95,000 to $505,000 AND was also listed for rent on and off last year.

The spring market is at full swing.

Will this finally sell at this lower price?

Paul Barker at Baird & Warner has the listing. See the pictures here.

Unit #103: 2 bedrooms, 2.5 baths, 1380 square feet, duplex up

• Sold in June 2003 for $490,000 (included 2 parking spaces)
• Sold in July 2012 for $365,000 (included 1 parking space)
• Sold in October 2017 for $525,000 (included 1 parking space)
• Originally listed in May 2018 for $600,000
• Reduced
• Available to rent between $3400-$3600 a month
• Re-listed in November 2018 for $525,000
• Reduced
• Currently listed at $505,000 (plus $35,000 for parking)
• Assessments of $801 a month (includes heat, air conditioning, doorman, cable, exercise room, pool)
• Taxes of $8665
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 15×15 (second floor)
• Bedroom #2: 11×18 (main level)
• Living room: 20×15 (main level)

This 1-bedroom at 400 E. Randolph in Lakeshore East just came on the market.

The building was constructed in 1963 and has 942 units.

It’s a full amenity building with an indoor half basketball court, ping pong, a pool table, what looks like a library, a kids playroom, a hot tub and a large exercise room.

This one bedroom has the coveted south facing balcony overlooking Maggie Daley Park, Millennium Park, Grant Park and the Chicago skyline.

The listing says it’s “all new.”

It has beech hardwood flooring throughout.

The kitchen has white cabinets and a stone island along with stainless steel appliances.

It has central air, but there’s no washer/dryer in the unit. It is coin laundry in the building.

Rental parking is $200 a month.

The assessment covers all of the building’s amenities including the bubble indoor pool.

Is this the best indoor pool in all of Chicago?

And is this unit, at just $480,000, a cheaper way than nearby, newer buildings to get the south facing view that is in demand?

Shelly Stunard at BerkshireHathaway KoenigRubloff has the listing. See the pictures here.

Unit #2007: 1 bedroom, 1 bath, 860 square feet

• Sold in March 1996 (no price listed)
• Currently listed at $480,000
• Assessments of $736 a month (includes heat, a/c, gas, doorman, cable, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $5717
• Central Air
• No washer/dryer in the unit – (coin laundry in the building)
• No deeded parking but rental available for $200 a month
• Bedroom: 11×17
• Living room: 12×22
• Kitchen 8×11

This 2-bedroom in 1400 Museum Park at 100 E. 14th Street in the South Loop recently came on the market.

Built in 2008, at the height of the housing bubble, 1400 Museum Park has 260 units and a parking garage.

It’s a full service building with a doorman and pool.

The listing for this 31st floor corner unit calls it a “lower penthouse.”

It has floor to ceiling windows facing south and west with city views.

The unit has been renovated since the 2018 sale.

If you want to see what it looked like prior to the reno, and have a Redfin account, you can see the old pictures here. It had the “standard” 2008 finishes including cherry cabinets and dark black and brown speckled granite counter tops.

See it here.

The kitchen has white Breaker solid wood cabinetry, stainless steel appliances, “exotic” granite counter tops along with a raised bar.

The listing says there is a marble wall “front to back” and marble feature wall in both bedrooms (is that what’s on the walls and columns?)

The master bathroom walls have oversized porcelain tiles and a 1′ linear border at eye level.

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

If you love views, does this have the best of all worlds with the city, several sports teams and some peak of lake?

Timothy Rhoten at Red Carpet Investment Group has the listing. See the pictures here.

Unit #3106: 2 bedrooms, 2 baths, 1300 square feet

• Sold in August 2008 for $462,000 (included the parking)
• Sold in May 2014 for $505,000 (included the parking)
• Sold in August 2018 for $587,000 (included the parking)
• Currently listed at $768,888 (parking is extra)
• Assessment of $645 a month (includes heat, a/c, doorman, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $7587
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×11
• Bedroom #2: 12×11

This 8-bedroom mansion at 1432 N. State Parkway in the Gold Coast just came on the market.

But if it looks familiar that’s because we chattered about it several times when it last came on the market in 2008 during the Great Recession.

You can see our 2008 chatter here and our 2011 chatter here.

It took 3 years to sell mostly because it needed to be renovated and brought back into the modern era. I need to get a newer picture as the exterior has also been dramatically renovated from the 2008 time period.

We then chattered about it again in 2016 when it came back on the market after the full renovation. See our chatter here.

Built in 1883 by Chicago architect A. M. F. Colton, it is on a 50×132 lot with a side drive and a coach house- which has 3 bedrooms and 1 bath.

The house originally had 7600 square feet and the coach house another 2000 square feet for 9600 square feet total but the lower level has been excavated making room for a recreation room, theater and game room which has added square footage.

The property now totals 10,350 square feet.

Back in 2008, most of the house’s vintage character had been preserved including the mahogany wood moldings, paneling and 3 original fireplaces.

Here are the pictures from the 2008 listing:

It has since been updated and transformed, including installing central air. There was space pac cooling previously.

There’s a 3 car garage with a heated driveway which can hold up to 5 more cars. That’s a total of 8 cars parking.

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

Ceilings on each of the floors are 10 feet+.

But while the vintage character has been preserved, the mahogany paneling in the entry foyer and living spaces has been painted white. (Yes, I know many of you were disturbed by this in 2016.)

Dwayne Wade rented out the house in the interim.

And now it’s been reduced $1.6 million to $7.9 million.

Will the lowered price help this house find a buyer in 2019?

Jenny Ames at Engel & Voelkers Chicago again has the listing. See the pictures and floor plan here.

1432 N. State Parkway: 8 bedrooms, was 6.5 baths- is now 7.5 baths,  was 9600 square feet- is now 10,350 square feet, 3 car parking

• I couldn’t find a prior sales price going back to the 1980s
• Was listed in October 2008 for $7.25 million
• Reduced
• Was listed in September 2010 for $5.9 million
• Sold in March 2011 for $4.985 million
• Was listed in April 2016 at $9,499,000
• Withdrawn
• Was rented
• Re-listed in March 2019 for $7.9 million
• Taxes are now $112,093, they were $85,347 in 2016 and $45,163 in 2008)
• Central Air
• 9 fireplaces (!)
• Bedroom #1: 20×17 (third floor)
• Bedroom #2: 13×18 (second floor)
• Bedroom #3: 15×17 (second floor)
• Bedroom #4: 21×17 (second floor)
• Bedroom #5: 14×15 (second floor)
• Coach house: 3 bedrooms, 1 bath

This 3-bedroom duplex down at 335 W. Belden in East Lincoln Park came on the market in August 2018.

This building was constructed in 1911 and has 15 units and outdoor parking in the back.

The listing says this unit has been “renovated to modern perfection.”

Two of the three bedrooms are on the first floor with the third bedroom in the lower level.

There’s also some other unique features in the lower level, including an exercise space and a sauna, along with a family room.

The kitchen has modern dark wood cabinets with white counter tops and luxury stainless steel appliances.

There’s a limestone fireplace and concrete hearth.

This unit has the features buyers look for including central air, washer dryer in the unit and 1-car exterior parking.

It is in a prime East Lincoln Park location just steps from the Lincoln Park Zoo and the Lincoln Park Conservatory.

Originally listed in August 2018 for $985,000, it has been reduced $65,000 to $920,000.

That is $10,000 under the 2016 purchase price of $930,000.

Are prices in some neighborhoods past peak?

Emily Sachs Wong at @Properties has the listing. See the pictures here.

Unit #1: 3 bedrooms, 3 baths, 3200 square feet, duplex down

• Sold in March 1994 for $387,500
• Sold in July 2012 for $712,000
• Sold in October 2016 for $930,000
• Originally listed in August 2018 for $985,000
• Reduced
• Currently listed at $920,000
• Assessments of $1,066 a month (includes scavenger)
• Taxes of $15,363
• Central Air
• Washer/dryer in the unit
• Exterior parking included
• Bedroom #1: 13×15 (main level)
• Bedroom #2: 12×13 (main level)
• Bedroom #3: 11×20 (lower level)
• Exercise room: 13×16 (lower level)
• Family room: 13×21 (lower level)
• Laundry room: 6×12 (lower level)