Crib Chatter

This 6-bedroom new construction modern single family home at 1042 W. Wellington in Lakeview came on the market in April 2018.

It is ready for occupancy and has been staged.

Built on a 32×125 lot, it has a 3 car garage.

The listing calls it a “full masonry” home with 2 huge roof decks, one that is truly on the roof and is mostly covered and includes a fireplace and a second one on top of the garage.

There’s also a stone back yard terrace.

It has dark wood floors throughout the main floor.

There’s a chef’s kitchen with white modern cabinets and thick white counter tops on the island. It also has luxury appliances by Subzero and Wolf, double Bosch dishwashers, a double oven, a wine fridge and a Wolf coffee maker.

4 of the 6 bedrooms are on the second floor with the other two in the basement along with a recreation room.

It originally came on the market in April 2018 at $2,799,888 and remains at that price.

The house is in the Agassiz school district.

Can central Lakeview support the $2.8 million price point outside of the Southport neighborhood?

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

1042 W. Wellington: 6 bedrooms, 4.5 baths, 6,000 square feet, 3 car garage

• Sold in July 2017 for $850,000 (prior house)
• Originally listed in April 2018 for $2,799,888
• Currently still listed for $2,799,888
• Taxes are “new”
• Central Air
• 3 fireplaces
• 2 roof top decks
• Bedroom #1: 14×18 (second floor)
• Bedroom #2: 14×11 (second floor)
• Bedroom #3: 13×12 (second floor)
• Bedroom #4: 12×12 (second floor)
• Bedroom #5: 14×17 (lower level)
• Bedroom #6: 13×11 (lower level)
• Laundry room: 9×6 (lower level)
• Recreation room: 23×17 (lower level)

This 6-bedroom single family home at 3054 N. Southport in the Southport neighborhood of Lakeview came on the market in July 2018.

Built in 2016 by MK Construction, the listing calls it a “modern farmhouse.”

Built on a 26×125 lot, which is a foot wider than the standard 25×125 lot, the house is 21 feet wide.

It has 10 foot ceilings and 8 foot doors along with 2 laundries and 2 wet bars.

The focal point of the house is an open staircase with an accent wall of reclaimed timbers.

The floors are quarter sawn white oak hardwood.

The kitchen has modern cabinets in white and wood-like look (this is the kitchen that is now “in” on the East Coast)  along with Wolf and Subzero appliances.

3 of the 6 bedrooms are on the second floor, with 2 other bedrooms on the third floor (although it appears that one bedroom has no windows- but only skylights) and there’s one bedroom in the basement.

There’s also a home theater in the lower level.

There’s a recreation room on the top floor.

The listing says the house has 17 skylights. You can check them out yourself in the floor plan.

There are 2 decks and a cedar and steel pergola in the backyard.

The house also has a 2-car garage and central air along with a security system with cameras.

The listing says its in the Burley school district.

Originally listed in July 2018 for $1.8 million, it has been reduced $150,000 and is now listed at $1.65 million.

That’s $15,000 under its 2016 selling price.

Is the luxury single family home market now a buyers market?

Greg Vollan at @Properties has the listing. See the pictures and floor plan here.

3054 N. Southport: 6 bedrooms, 4.5 baths, 5100 square feet

• Sold in May 2016 for $1.665 million
• Originally listed in July 2018 for $1.8 million
• Reduced several times
• Currently listed at $1.65 million
• Taxes of $29,564
• Central Air
• 2 car garage
• 2 decks
• Bedroom #1: 14×21 (second floor)
• Bedroom #2: 10×13 (second floor)
• Bedroom #3: 10×13 (second floor)
• Bedroom #4: 12×17 (third floor)
• Bedroom #5: 11×14 (basement)
• Bedroom #6: 10×10 (third floor)
• Recreation Room: 15×24 (third floor)
• Theater: 15×18 (basement)

This 2-bedroom loft in the Peterson Lofts at 523 S. Plymouth in Printers Row recently came on the market.

The Peterson Lofts were built in 1911 and converted into condominiums in 1995. The building has 49 units and some parking spaces in an indoor garage.

It’s not a full service building. There’s no doorman, for instance.

This loft is an authentic loft with exposed brick walls, big industrial windows, cement ceilings and pillars.

It faces west, which is now the preferred view in the building since the Library Towers condo building was built on the east side of the building and blocked those views.

The master bedroom has windows, and full ceiling walls, but the second bedroom does not.

The listing says this loft has been renovated with high end finishes.

The loft has a new kitchen with custom cabinets, exotic granite counter tops and stainless steel Bosch appliances.

The master suite has a newly renovated bathroom with a dual vanity and porcelain tile floors, along with a walk-in closet.

There’s a fireplace in the living room which is gas.

It also appears that the interior doors in the loft have been replaced, including the closet doors.

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

Garage parking is rare in Printers Row. There are less than a handful of loft buildings that have it in the building.

Buyers love “new.” This old loft is essentially just like new.

Will this go under contract quickly?

Terry Smith at Berkshire Hathaway American Heritage has the listing. See the pictures here.

Unit #804: 2 bedrooms, 2 baths, 1400 square feet

• Sold in May 1995 for $172,500
• Sold in May 2003 for $363,000
• Sold in June 2012 for $300,000 (included the parking)
• Currently listed at $419,900 (includes the parking)
• Assessments of $717 a month (includes cable, Internet, exercise facilities, exterior maintenance, scavenger, snow removal)
• Taxes of $7242
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 14×14
• Bedroom #2: 14×10
• Living room: 18×18

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

The building was constructed in 1931 and has 195 units, many which have lake and Lincoln Park views.

This building used to be apartments until it was converted into condominiums in 2004-2005 at the height of the boom. The developer offered an upgrade package for the kitchens which consisted of new cabinets, granite counter tops and stainless steel appliances.

A lot of investors bought in this building which resulted in foreclosures during the bust.

We chattered about the short sales and the foreclosures numerous times from 2008-2012. Here’s a November 2008 chatter about the distress sales in the building.

This 2-bedroom was also bank owned in 2016 and re-sold in 2017.

Now it has returned to the market “fully remodeled by a professional designer”.

This corner unit has the preferred Lake Michigan views.

It also has built-in shelving and engineered flooring.

That’s a decorative fireplace in the living room, however.

The listing says it has a “custom” kitchen with modern black and white cabinets, quartz counter tops and stainless steel appliances.

The unit has a master suite with a heated towel warmer in the bathroom and a walk-in closet.

There are Grohe faucets, custom window shades and an in-unit washer/dryer.

It doesn’t have central air, but has window units.

It also doesn’t have parking.

Currently listed at $527,000, that is $7,500 more than the 2005 boom era sales price of $519,500.

Has this building recovered all of its bust-era losses?

Estera Wilson at Compass has the listing. See the pictures here.

Unit #802: 2 bedrooms, 2 baths, no square footage listed

• Sold in June 2005 for $519,500
• Lis pendens foreclosure filed in August 2015
• Bank owned in December 2016
• Sold in April 2017 for $294,000
• Currently listed at $527,000
• Assessments of $804 a month (includes heat, gas, doorman, cable, Internet, exercise room, exterior maintenance, lawn care)
• Taxes of $4686
• No central air- window units only
• In-unit washer/dryer
• No parking
• Decorative fireplace
• Bedroom #1: 16×12
• Bedroom #2: 15×12
• Living room: 14×22
• Dining room: 9×11
• Kitchen: 7×10

This 2-bedroom loft in the Anchor Lofts at 215 W. Illinois in River North just came on the market.

The Anchor Lofts were built in 1923 and converted into lofts in 1986, which was probably among the first loft conversions in this neighborhood.

It has 18 units and garage parking.

Described in the listing as having “elegant sophistication,” this loft has been updated to 2018 tastes.

The floors are wide plank white oak floors stained gray.

It has exposed brick walls, which are painted white, and dark, almost black, beams throughout.

The kitchen has upscale finishes including a 60″ Wolfe oven, double dishwashers, white cabinets and a large quartz island. There’s also room for a kitchen table.

This is a rare loft in this building which has outdoor space as there’s a 7×10 deck off the kitchen.

The bathrooms also have white cabinets and updated finishes.

The loft has central air, a laundry room and one car garage parking is included.

This loft last sold 20 years ago, so it’s a rare offering for loft lovers.

The building, however, doesn’t appear to have a work out room or other amenities. Nor does it seem to have a doorman.

Listed at $1.195 million, are these features that buyers at this price point demand or do loft lovers have different standards?

Sharon Glickman at Baird & Warner has the listing. See the pictures here.

Unit #3A: 2 bedrooms, 2 baths, 2000 square feet

• Sold in July 1996 for $230,000
• Sold in November 1998 for $375,000
• Currently listed at $1.195 million (includes 1-car garage parking)
• Assessments of $477 a month (includes exterior maintenance, lawn care, snow removal)
• Taxes of $12,689
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 16×11
• Bedroom #2: 13×11
• Kitchen: 15×22
• Living room: 19×23
• Dining room: 12×10
• Laundry room: 8×6
• Foyer: 10×10
• Balcony: 7×10

This 1-bedroom in a vintage building at 1524 N. LaSalle in Old Town came on the market in July 2018.

The building has 8 units and deeded outdoor parking. It’s not clear when the building was constructed but it does, however, have some hallmarks of vintage buildings with 11 foot ceilings, a gas fireplace and built-ins.

While only 800 square feet, the unit does have some surprising features including a 6×12 den/office nook which even has a window.

The listing says the kitchen has been “remodeled” and has granite counter tops, over 42″ dark wood cabinets and black appliances.

According to the listing, the large private deck off the kitchen was rebuilt in 2017.

It has all the features buyers look for including central air, washer/dryer in the unit and deeded outdoor parking.

The shops and restaurants of Old Town are just minutes away as is quick beach and Lincoln Park access.

Originally listed for $390,000, it has been reduced $31,000 to $359,000.

Is this unit a find for vintage lovers who want modern amenities?

Trish Autrey at Baird & Warner has the listing. See the pictures here.

Unit #2W: 1 bedroom, 1 bath, 800 square feet

• Sold in November 1990 for $120,000
• Sold in March 1996 for $133,000
• Sold in September 1998 for $185,000
• Sold in January 2002 for $226,500
• Originally listed in July 2018 for $390,000
• Reduced
• Currently listed at $359,000 (includes outdoor parking space)
• Assessments of $192 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $4984
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom: 14×11
• Living room: 15×19
• Office: 6×12
• Deck: 12×12

It’s time for some time off.

And just in time for the housing slowdown, it appears.

There are lots of properties still on the market from the spring and summer so I’ll be covering many of those when I return.

But there will be a lot of questions for those sellers:

1. What if they don’t sell by December? Do they withdraw the listing and re-list in February when the spring buying season begins?
2. Or do they keep the property on the market because there are still some buyers looking in December and they might get lucky?

The market has been hot for so many years,  not many sellers have had this problem in a long time.

What about the buyers?

1. Do you lowball the listings that have been on the market for 6 months or longer?
2. And do you rush out to buy this winter, instead of the spring, to lock in lower mortgage rates?

Time will tell.

See you on November 12.

This 2-bedroom in Seminary Gardens at 2159 N. Seminary in Lincoln Park just came on the market.

Seminary Gardens was built in 1896 and has 18 units.

This half block building has always had a British/London feel to me.

This condo is an end unit with 3 exposures.

It has some of its vintage features including 10 foot ceilings and crown molding.

There are two wood burning fireplaces, one in the living room which has a brick mantle, and one in the master bedroom.

The master bedroom also has an en suite bathroom.

The listing says the kitchen has been “updated” with wood cabinets, granite counter tops, stainless steel appliances and a subway tile backsplash.

It has a private deck and it shares a brick landscaped courtyard.

There’s no parking nor central air. It has window units.

I can’t tell if there’s in-unit laundry as it’s not listed in the description but the listing says there’s a hook-up. But there may not be in-unit laundry.

This unit last sold in 2014 for $292,500 and has come on the market at $415,000 which is $122,500 more than the last sales price.

Will it get the premium with these new market conditions?

John Lyons at Baird & Warner has the listing. See the pictures here.

You can also see it in person at this weekend’s Open House on Nov 3 from 10-12 pm and Nov 4 from 1o-12 pm.

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

• Sold in May 1990 for $164,000
• Sold in November 1992 for $173,500
• Sold in September 1994 for $178,000
• Sold in December 1997 for $192,500
• Sold in January 2014 for $292,500
• Currently listed for $415,000
• Assessments of $324 a month (includes heat, scavenger)
• Taxes of $6869
• No central air- window units
• No parking (available in the neighborhood for $200 a month)
• Not sure if there’s washer/dryer in the unit
• 2 wood burning fireplaces
• Bedroom #1: 20×12
• Bedroom #2: 9×11
• Dining room: 11×12
• Living room: 11×16
• Kitchen: 11×12

This 3-bedroom on the 14th floor of 2550 N. Lakeview in Lincoln Park came on the market in February 2018.

2550 N. Lakeview was the first new high rise built on Lincoln Park in decades.

Constructed in 2011, this luxury building had difficulty selling all 218 units due to the housing bust.

Currently, in 2018, it has 18 units on the market with 4 of them under contract including a $4.35 million unit.

This 3-bedroom is a combined 03/04 unit with 3 terraces and 360 degree views including of the lake.

The living room has a gas fireplace with an imported Italian marble mantle.

The kitchen has white cabinets, granite counter tops and backsplash, with Wolf, Miele, Subzero appliances and a wine fridge.

There’s a master suite with his/her walk-in closets, double sinks and a soaking tub.

The unit has a paneled media room with a gold leaf ceiling, built-in couch, and a  “70″ HDTV, 3D enabled, 7 speaker surround, built-in blu ray & Apple TV.”

It has modern finishes expected at the million dollar price point including a Crestron Smart Home & Media System wired for music, climate, shades, & lighting.

The unit has central air, a full sized washer/dryer and 2-car garage parking is included.

2550 N. Lakeview is a full amenity building with a pool, an in-house theater, a clubhouse, an exercise room, a billiard/game room, a spa, a sauna and a dog run.

Originally listed at $3.85 million, it has been reduced $175,000 to $3.675 million.

Has 2550 N. Lakeview finally lived up to the hype when it was first announced over 10 years ago as one of the top luxury buildings in Chicago?

Lisa Borelli at @Properties has the listing. See the pictures and floor plan here.

Unit #1403-4: 3 bedrooms, 3.5 baths, 3712 square feet

• Sold in September 2012 for $2.79 million
• Originally listed in February 2018 for $3.85 million
• Reduced
• Currently listed at $3.675 million
• Assessments of $2089 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $49,167
• Central Air
• Washer/dryer in the unit
• 2-car parking included
• Bedroom #1: 13×14
• Bedroom #2: 12×12
• Bedroom #3: 12×13
• Library: 11×11
• Family room: 17×12
• Gallery: 10×12

This 3-bedroom single family home in Dearborn Park II at 44 W. 14th in the South Loop came on the market in July 2018.

(The picture above is of several houses in the same subdivision but not necessarily the named property.)

Built in 1995, there are smaller and larger single family homes in this subdivision.

This home is one of the smaller ones, built on a lot that is less than a quarter of an acre.

The listing says it has 20 foot wide interior.

At 2732 square feet, the three story house has a 2-car attached garage with a first floor family room with a half bath.

The second level is the living/dining and kitchen which has white cabinets and stainless steel appliances with a kitchen island. There’s a small deck off the kitchen.

All 3-bedrooms are on the top floor. The master suite has an attached bathroom. There’s also a second bathroom for the other two bedrooms.

The listing says that there are new carpets and the house has been repainted.

The house is just a block from South Loop elementary and near the shops and restaurants of Printers Row.

Listed in July 2018 at $919,900, it has been reduced $20,000 to $899,900.

Is this a good townhouse alternative?

Patrick Natale at Coldwell Banker has the listing. See the pictures and floor plan here.

44 W. 14th Street: 3 bedrooms, 2.5 baths, 2732 square feet

• There’s no original selling price listed
• Sold in March 2014 for $790,000
• Originally listed in July 2018 for $919,900
• Reduced
• Currently listed at $899,900
• Assessments of $151 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $16,592
• Central Air
• 2-car attached garage
• Bedroom #1: 18×13 (third floor)
• Bedroom #2: 10×12 (third floor)
• Bedroom #3: 10×12 (third floor)
• Laundry room: 3×6 (second floor)
• Family room: 16×13 (main level)