Crib Chatter

This 3-bedroom in 400 E. Ohio in Streeterville came on the market in May 2018.

400 E. Ohio was built in 1983 and has 185 units.

It’s a full service building with an indoor pool and sauna.

It has an attached parking garage where residents get parking, which is included in the purchase price, and guests can also park for free.

The listing says this unit has city and lake views.

It has dark hardwood floors in the main living areas.

The kitchen has light solid wood cabinetry, stone counters and stainless steel appliances.

All three bedrooms have generous square footage.

It’s also a rare 3-bedroom that also has 3 full baths.

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

For those looking for more bang for their buck in Streeterville, are the older buildings the way to go?

Lucas Blahnik at @Properties has the listing. See the pictures and the floor plan here.

Unit #2603: 3 bedrooms, 3 baths, no square footage listed

• Sold in October 1995 for $451,500
• Sold in February 1997 for $465,000
• Sold in August 2000 for $650,000
• Originally listed in May 2018 for $760,000
• Still listed at $760,000
• Assessments of $1,632 a month (includes a/c, cable, Internet, doorman, exercise room, indoor pool, sauna, exterior maintenance, scavenger, snow removal)
• Taxes of $10,968
• Central Air
• Washer/dryer in the unit
• Parking included (and free guest parking)
• Bedroom #1: 18×12
• Bedroom #2: 14×11
• Bedroom #3: 15×11
• Dining room: 13×9
• Foyer: 11×5

This 3-bedroom duplex penthouse loft in the River Bank Lofts at 550 N. Kingsbury in River North came on the market in June 2018.

The River Bank Lofts was an authentic loft conversion with walls of exposed brick and timber ceilings.

The main floor has a library, the kitchen, dining and living rooms along with 2 of the three bedrooms.

The second floor has a family room with a mini-kitchen with what looks like wine refrigerators as well as a skylight, and the third bedroom.

The kitchen appears to have white cabinets, granite counter tops and stainless steel appliances.

This loft also has some unique features including a massive storage/crafts room across the hall from the unit and two outdoor spaces, including a patio and a living room balcony that overlooks the River.

But the most unique part of the loft appears to be the sizable greenhouse. It looks like there is electricity and possibly space pak heating/cooling (as you can see it attached to the wall.)

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

It has been 21 years since this loft last sold.

This is a rare chance to get a unique property on the hot Chicago River.

Listed at $1.195 million, will it get it’s price?

James Kinney at Baird & Warner has the listing. See the pictures here.

Unit #603: 3 bedrooms, 3 baths, 2259 square feet, duplex

• Sold in October 1995 for $485,000 (included 3 parking spaces)
• Sold in January 1997 for $515,000 (included 1 parking space)
• Originally listed in June 2018 for $1,195,000
• Currently still listed for $1,195,000
• Assessments of $1172 a month (includes doorman, cable)
• Taxes of $16,975
• Central Air
• Washer/dryer in the unit
• 2 fireplaces
• Balcony and patio
• Greenhouse
• 1 parking space included
• Bedroom #1: 13×13 (main floor)
• Bedroom #2: 10×10 (main floor)
• Bedroom #3: 12×12 (second floor)
• Family room: 24×12 (second floor)

This 2-bedroom at 7 S. Aberdeen in the West Loop came on the market in June 2018.

This rare non-loft vintage building has 6 units and covered parking. It sits on the corner of Aberdeen and Madison in the heart of the West Loop restaurants and shops.

It has many unique features including brick walls, timber and archways along with vintage windows.

The kitchen has custom cabinetry, stainless steel appliances, granite counter tops and a breakfast bar.

The unit has a huge master suite with its own private fireplace, walk-in closet and an en suite bathroom.

It has central air, washer/dryer in the unit and a balcony off the living room.

The unit has secured, gated, covered parking which is included.

In a neighborhood with a lot of new construction, will this unit sell quickly?

Sara McCarthy at Keller Williams has the listing. See the pictures here.

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

• Sold in September 2003 for $414,500
• Sold in June 2010 for $400,000
• Sold in March 2013 for $470,000
• Currently listed at $625,000 (includes the covered parking)
• Assessments of $367 a month (includes exterior maintenance and scavenger)
• Taxes of $8775
• Central Air
• Washer/dryer in the unit
• 2 fireplaces including one in the master bedroom
• Balcony
• Bedroom #1: 22×18
• Bedroom #2: 14×10
• Laundry room: 4×3

This vintage 3-flat at 2117 W. Concord in Bucktown came on the market in May 2018.

Built in 1885, the 3-flat has a brick and limestone exterior as it sits in a neighborhood with many historic mansions that were built for the wealthy.

It is on a wider than standard Chicago lot, which the listing calls a double lot, measuring 101 x 45.8.

The building has 8 bedrooms and 3 bathrooms in the following configuration:

• Unit #1: Ground floor 3 bedrooms, 1 bath
• Unit #2: First floor 3 bedrooms, 1 bath with an artificial fire place
• Unit #3: Second floor 2 bedrooms, 1 bath with an artificial fire place

The building has maintained many of its vintage features on the first and second floors including hardwood floors, crown moldings, tall ceilings, built-in hutches and cabinets and ceiling medallions.

The listing says the building has undergone “extensive renovation” including exterior window restoration, newer mechanicals, the enclosed porch was restored and new Marvin windows were installed in the full floor attic.

The attic level is currently not being used and the listing suggests that that a new owner may be able to make a huge 3,000 square foot unit out of the second and third floors.

The property has 4-car parking, including a 3-car garage.

Currently, each unit has 1-car garage parking included.

They also have central air and washer/dryers in each unit.

The listing says there are newer kitchens and baths and the pictures show stainless steel appliances in two of the kitchens (the third kitchen is not shown).

Here are the current rents:

• Unit #1: $2395 a month
• Unit #2: $2495 a month
• Unit #3: $2650 a month

This building is just a block or two from the red hot North/Damen/Milwaukee intersection including all the shops and restaurants as well as the Damen Blue Line stop.

The listing calls this property a “rare opportunity.”

Is it?

2117 W. Concord: 3-flat, 8 bedrooms, 3 baths, 5000 square feet

• Sold in October 1996 for $315,000
• Sold in March 1998 for $523,000
• Sold in June 2004 for $799,000
• Sold in May 2005 – but price not listed in CCRD
• Originally listed in May 2018 for $1,989,900
• Currently still listed for $1,989,900
• Monthly rents total: $7540
• Taxes of $14,766
• Tenants pay gas, electric, heat

This 2-bedroom at 1814 N. Lincoln Park West in Old Town came on the market in May 2018.

The building was constructed in 1890 and has 4 units.

This 1800 square foot unit is Unit #3.

It has many of its vintage features intact, including crown molding, wainscoting, pocket doors, a full size dining room, original bent glass bay windows and built-in window seats, as well as 2 gas fireplaces, one in the living room and one in the dining room.

There are marble floors in the foyer.

Originally a 3 bedroom, one of the bedrooms was used to make a master suite with a walk-in closet and a larger bathroom with a marble shower.

The kitchen has white cabinets, a Wolf stove and a Subzero refrigerator, quartz counter tops, an island and a beamed ceiling.

There’s a large private 26×20 deck off the kitchen with covered dining.

Although it’s vintage, this unit has the features today’s buyers look for including washer/dryer in the unit, space pak cooling (it has radiator heating) and an exterior parking space, which is rare for the Old Town triangle neighborhood.

Originally listed for $835,000 in May, it has been reduced $60,000 to $775,000.

Is this your dream Old Town vintage condo property?

Karen Peterson at @Properties has the listing. See the pictures here.

Unit #3: 2 bedrooms, 2 baths, 1800 square feet

• Sold in September 2004 for $553,000
• Sold in July 2015 for $685,000
• Sold in August 2016 (but no price listed in the CCRD)
• Originally listed in May 2018 for $835,000
• Reduced several times
• Currently listed for $775,000
• Assessments of $350 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $12,500
• Space pak cooling
• Radiator heat
• Washer/dryer in the unit
• Exterior parking space included
• 2 gas fireplaces
• Bedroom #1: 19×13
• Bedroom 32: 10×10
• Walk-in closet: 10×7
• Deck: 26×20

This 3-bedroom Via Como townhouse at 909 W. Ohio in River West recently came on the market.

Via Como was constructed in 2001 and has 34 units (the picture above is of the general development.)

This townhouse has the preferred layout with all 3 bedrooms on the third floor, including the master suite.

The living/dining rooms and kitchen are on the second floor.

The kitchen has dark wood cabinets, granite counter tops and stainless steel appliances along with a kitchen island and a dine-in breakfast nook.

There’s a balcony off the kitchen where you can grill.

The townhouse has a family room, a full bath, and a rare 2-car heated garage on the first floor (townhouses usually have 1-car parking at this price point.)

It also has a private rooftop deck with city views.

When it was built, this area was pretty deserted but now there are new luxury apartment and condo buildings and trendy restaurants like The Dawson just a block or two away.

Fulton Market is a 10 minute walk.

Is River West the neighborhood to be in for big price appreciation in the coming years?

Laura England at @Properties has the listing. See the pictures here.

Unit #9: 3 bedrooms, 3 baths, 2500 square feet

• Sold in June 2001 for $457,000
• Currently listed for $640,000
• Assessments of $220 a month (includes exterior maintenance, lawn mower, scavenger, snow removal)
• Taxes of $9293
• Central Air
• 2-car heated attached garage
• Bedroom #1: 16×14 (third floor)
• Bedroom #2: 10×9 (third floor)
• Bedroom #3: 10×8 (third floor)
• Laundry room: 3×6 (third floor)
• Family room: 14×13 (main floor)

This 2-bedroom duplex in 200 W. Menomonee in Old Town came on the market in June 2018.

This complex has 15 units and a gated brick landscaped courtyard with grills and tables.

There’s no parking with this unit.

At 933 square feet, it has the living/dining space on the first floor, a recessed kitchen and 2 bedrooms on the second floor.

There’s a powder room on the main floor.

It has wall units for cooling and in-unit washer/dryer.

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

On the market for over 20 days, it was recently reduced $15,000 to $343,000.

It’s pretty rare to see price reductions in the GreenZone in 2018 at this price point.

Is the market starting to slow?

Min Hyung Kim at 5i5j Realty has the listing. See the pictures here.

Unit #11: 2 bedrooms, 1.5 baths, duplex, 933 square feet

• Sold in October 1988 for $124,000
• Sold in May 1995 for $143,000
• Sold in July 1998 for $186,000
• Sold in May 2002 for $263,000
• Sold in December 2005 for $340,000
• Sold in August 2014 for $275,000
• Originally listed in June 2018 for $358,000
• Reduced
• Currently listed at $343,000
• Assessments of $242 a month
• Taxes are $4578
• No central air- but wall unit cooling
• Washer/dryer in the unit
• No parking
• Bedroom #1: 14×13 (second floor)
• Bedroom #2: 14×8 (second floor)
• Kitchen: 11×7
• Living room: 21×21

The Old Town Nursery is no more. In it’s place will be this new 23-unit condo building at 1553 N. Wells.

The units will have balconies and recessed lighting.

The kitchens will be gourmet with quartz counter tops and Fisher & Paykel French door refrigerators.

The building will have a common rooftop deck with grills and a dog walk.

Since there are gyms in the neighborhood, the building will not have one.

There’s no deeded parking but it looks like it will be on site rental parking from $200 a month.

Here’s a list of the price points for some of the units currently on the market:

• 1 bedroom, 1 bath, $329,000
• 1 bedroom, 1 bath, $335,000
• 1 bedroom, 1 bath, $339,000
• 2 bedrooms, 2 baths, 599,500
• 2 bedrooms, 2 baths, $625,000
• 2 bedrooms, 2.5 baths, $899,000

All this listings have the same “pictures” because they’re just renderings of what it will look like.

Delivery is expected in June 2019.

There’s a lot of construction going on in Old Town, specifically on Wells. A boutique hotel is expected to be built a short distance away, across the street, from this building on Wells.

There’s also at least one new luxury apartment building currently under construction.

Will this condo building be the last chance to get into a new condo on this popular street?

Lisa Asher Santillan at Jameson Sotheby’s has the listing. See some pictures of what it will look like here.

Unit #405: 1 bedroom, 1 bath, no square footage listed, faces west

• Listed at $339,000
• Under contract
• Central Air
• Washer/dryer in the unit
• Assessments of $177 a month (includes scavenger and snow removal)
• Taxes are “new”
• Bedroom: 10×10
• Living room: 12×13
• Kitchen: 15×9
• Foyer: 7×5

This 3-bedroom townhouse at 1350 W. Byron in Southport just came on the market.

This is a townhouse development with 12 units and attached 1-car garages built in 2000.

This townhouse has 4 levels.

The first floor has the attached garage (with an additional driveway parking) and a den.

The second floor has the living/dining and kitchen.

The third floor has 2 en suite bedrooms.

The fourth floor has either a third bedroom or a family room along with a half bath.

There are two different outdoor spaces, on the first floor and the fourth floor.

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

The listing says it’s in the Blaine school district.

In the past, that has been one of the hottest school districts, virtually guaranteeing that any 3-bedroom would sell quickly.

Are properties in Blaine still red hot?

Steven Katz at @Properties has the listing. See the pictures here.

Unit #10: 3 bedrooms, 2.5 baths, no square footage listed

• Sold in October 2000 for $425,000
• Sold in May 2002 for $469,000
• Currently listed for $549,900 (includes 1 car garage)
• Assessments of $225 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $8706
• Central Air
• Fireplace
• Bedroom #1: 16×11 (third floor)
• Bedroom #2: 10×10 (third floor)
• Bedroom #3: 16×12 (fourth floor)
• Den: 10×9 (first floor)

I almost forgot to do an update on the May home sales.

It’s not a very exciting story right now.

The market is still tight because inventory remains low.

The city of Chicago saw year-over-year home sales decrease 2.2 percent with 2,978 sales in May, compared to 3,046 a year ago. The median price of a home in the city of Chicago in May 2018 was $306,000 up 0.1 percent compared to May 2017 when it was $305,600.

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: 2978 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: $306,000

“Median prices showed a healthy, sustainable uptick in May, giving property owners an opportunity to continue to gain a return on their investment while at the same time allowing consumers a solid shot at getting into a home,” said Illinois REALTORS® President Matt Difanis, ABR, CIPS, GRI, broker-owner of RE/MAX Realty Associates in Champaign. “The overall trend of decreasing inventories is unabated, so it’s likely this market dynamic will continue to place upward pressure on home prices through the summer.”

30-year mortgage rates averaged 4.6%, up from 4.47% in April and up from 4.01% in May of last year.

“Buyers are feeling the pressure to move quickly, with shorter market times and fewer homes to choose from,” said Rebecca Thomson, president of the Chicago Association of REALTORS® and principal of Thomson Real Estate Group. “For sellers, it’s all about positioning. With prices holding steady, sellers need to price it right from the beginning.”

Could a trade war take the shine out of the housing market in the second half of 2018?

“While month-to-month sales in the last quarter recorded solid gains, the sales volumes were slightly lower than a year ago,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois. “The continued expansion of the economy has certainly helped sustain the housing recovery although rising interest rates and uncertainty about the impact of the current trade war may dampen growth in the rest of 2018.”

Statewide, inventory declined 7.6% year-over-year to 55,126 from 59,644 homes. The time it took to sell also fell, to an average of 49 days from 52 days in May 2017.

Is the market as hot this summer as it was in the spring?

Illinois median home prices show gains in May, sales down slightly [Illinois Association of Realtors, Press Release, June 20, 2018]