Crib Chatter

This 3-bedroom at in No 9 Walton at 9 West Walton in the Gold Coast recently came on the market.

No 9 Walton is a new construction luxury high rise with 66 units and a parking garage.

It’s located across the street from the Ogden School.

This building was conceived as a luxury building with large, family-sized 3 and 4 bedroom units.

There are no 1-bedroom units in the building.

The listings claim 5-star amenities including a motor court with valet, an indoor spa pool, private dining, a 2-story exercise room and a wine tasting room.

The building was so popular in pre-sales, that the developer actually added several floors to make it bigger.

This unit looks like a resale.

It’s on the 28th floor and is a half floor unit with 4420 square feet and 2-car parking.

An interesting feature is the full sized laundry room measuring 14×10.

The building is nearly sold out.

Closings are expected to begin in January 2018.

We haven’t seen nearly sold out new construction condo towers since the boom years. Back then, buyers were buying pre-construction, when prices were lower, waiting for them to close, and then flipping the units for a quick gain.

Will we see flips in this building?

Susan Miner at Premier Relocation has the listing. There aren’t any pictures for the unit but you can see what the finishes are going to look like with Unit #2201 which are the developers pictures. See them here.

You can see the listing here.

Unit #2801: 3 bedrooms, 3.5 baths, 4420 square feet

• New construction
• Currently listed at $6.3 million
• Assessments of $3733 a month (includes heat, a/c, gas, doorman, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/Dryer in the unit
• 2-car parking
• Bedroom #1: 31×14
• Bedroom #2: 14×11
• Bedroom #3: 14×16
• Study: 14×13
• Library: 18×13
• Terrace: 13×27

This 2-bedroom in Kingsbury on the Park at 653 N. Kingsbury in River North came on the market in August 2017.

The building was designed by Lucien Lagrange in 2003 and has 130 units and a parking garage.

This unit is a corner unit with north and east exposures from floor to ceiling windows.

It has dark wood floors, custom window coverings and a chef’s kitchen with maple modern cabinets, stainless steel appliances and granite counter tops along with a large island.

The bathroom has duel sinks and a separate natural stone shower.

The unit has central air, washer/dryer in the unit and parking is available for $30,000.

Originally listed in August 2017, it has been reduced $21,500 to $478,000.

It has monthly assessments of $698 which includes virtually everything including heat, air conditioning, cable and Internet as well as the other features of a full amenity building like doorman and exercise room.

Given what heat and/or air costs per month for a 2/2 of this size as well as cable and Internet, are these assessments actually cheap?

Sarah Ziehr at Redfin has the listing. See the pictures here.

Unit #1807: 2 bedrooms, 2 baths, no square footage listed

• Sold in October 2003 for $336,000 (no parking)
• Sold in July 2011 for $343,000 (no parking included)
• Originally listed in August 2017 for $499,500
• Reduced
• Currently listed for $478,000 (parking is $30,000 extra)
• Assessments of $698 a month (includes heat, a/c, gas, doorman, cable, Internet, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes of $6694
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 14×12
• Bedroom #2: 12×10
• Office: 10×6

This 4-bedroom duplex in the mid-century modern high rise at 320 W. Oakdale in Lakeview came on the market in May 2017.

The building was designed by Milton Schwartz in 1956 and has 51 units and covered parking.

This is from Wikipedia about the building’s history:

The building at 320 West Oakdale is representative of the apartment building boom in Chicago, Illinois in the 1950s and 1960s. Milton M. Schwartz served as the building’s architect, contractor, and developer, and the building was his first major design. As such, he had complete control over the creative direction of the building, and so was able to tailor it to his interests.

Schwartz intended the building to serve as luxury apartments for the city elite. The apartment was designed so that residences had windows in three or four directions. Rooms were designed to resemble single-story ranch homes. The building was one of the first completely air conditioned all-glass apartments in Chicago.

Stark in its repetition and simplicity, it is a good example of the International Style. The building was highlighted in a 1955 Architectural Forum article about recent Chicago apartment buildings. In the article, it was compared favorably to nearby works by Ludwig Mies van der Rohe and Skidmore, Owings & Merrill. On April 23, 2013, the building was recognized by the National Park Service with a listing on the National Register of Historic Places.

This unit is on the 19th and 20th floors and looks to be a combined unit as it has 2 kitchens, one on each floor.

It’s not the penthouse. Those are on the 21st floor.

The listing says its the only duplex in the building.

It has floor to ceiling windows with east and south views.

I won’t go into the description of the two kitchens, because, well, everyone should check it out for themselves.

The unit has some hardwood floors as well as wood paneling with moldings.

It has central air, in-unit washer/dryer and one covered parking space.

The listing says this is the first time this unit has been on the market. If they moved in right away, that would be 61 years.

The owners in this building seem very loyal.

In 2012, Chicago Magazine had a story about the two penthouses and talked to Schwartz’s widow who still lived in one.  You can read it and see the pictures here.

This unit has been under contract once already.

It’s been reduced $24,100 since May.

Who’s ready to take on this project?

Amanda McMillan at @Properties has the listing. See the pictures here.

Unit #1901: 4 bedrooms, 3.5 baths, duplex

• First time on the market since 1956
• Originally listed in May 2017 for $799,900
• Reduced
• Currently listed at $775,000 (includes one covered parking spot)
• Assessments of $2337 a month (includes heat, a/c, cable, Internet, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $11,885
• Central Air
• Washer/Dryer in the unit
• Wet bar
• Bedroom #1: 29×14 (main level)
• Bedroom #2: 15×14 (second floor)
• Bedroom #3: 14×11 (second floor)
• Bedroom #4: 15×11 (second floor)
• Foyer: 18×7
• Study: 15×11 (main level)
• 2 kitchens (one on each level)

This top floor 2-bedroom at 120 W. Delaware in the Gold Coast came on the market in May 2017.

The 8-unit building was constructed in 1881.

This unit has many of its original vintage features including 10 foot ceilings with plaster cove moldings, pocket doors, and 3 wood burning fireplaces, including one in the living room, one in the dining room and one in the master bedroom.

The listing says there’s designer wallpaper in the foyer.

The master bedroom has a walk-in closet and an attached private den.

The kitchen has white cabinets with a mix of appliances in black and stainless.

Like many vintage units there’s a full size dining room.

The bathrooms don’t have bath tubs but only walk-in showers along with raised glass bowl sinks.

This unit also has access to a private roof deck. There’s a picture in the listing of the deck but it’s unclear how you get up to it.

This unit has the modern features buyers look for including central air, washer/dryer in the unit and garage parking.

No pets are allowed, however.

It has been reduced $44,000 since May to $635,000.

With tight inventory, why isn’t this selling?

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

Unit #4E: 2 bedrooms, 2 baths, 1700 square feet

• Sold in December 1990 for $250,000
• Sold in October 1993 for $240,000
• Sold in August 1997 for $260,000
• Sold in August 2002 for $495,000
• Sold in April 2004 for $519,000
• Originally listed for $679,000
• Reduced several times
• Currently listed at $635,000
• Assessments of $320 a month (includes exterior maintenance, scavenger and snow removal)
• Taxes of $9653
• Central Air
• Washer/dryer in the unit
• Garage parking included
• 3 wood burning fireplaces
• No pets
• Bedroom #1: 13×12
• Bedroom #2: 13×11
• Den: 11×9
• Living room: 15×14
• Dining room: 15×11

This 4-bedroom in The Buckingham at 360 E. Randolph in Lakeshore East came on the market in June 2017.

The Buckingham was built in 1978 and has 305 units and parking.

It’s a full amenity building with an indoor pool and exercise room that overlooks Millennium Park. It was one of the “original” buildings of the Lakeshore East development.

This unit was a gut rehab and the listing describes it as a “modern masterpiece.”

It faces north and west, with some views of Millennium Park (but not dead on).

It has contemporary beam work with canister lighting throughout the living/kitchen areas and light grey 7 inch plank hardwood floors.

The kitchen is “restaurant quality” with modern cabinets, waterfall quartz counter tops, a double oven and luxury stainless steel appliances. There’s also a wine refrigerator.

All the bedrooms are “oversized.”

The master bedroom has a “hotel-like” master bath.

The unit has central air and a full-size washer/dryer.

There are 2 parking spaces available for $30,000 each.

There’s no private outdoor space with this unit. I’ve noticed a lot of the 1970s high rises just skipped the balconies.

Originally listed in June for $1,599,900, it has been reduced 6.3%, or $100,000, to $1,499,900.

Given the higher prices in nearby newer buildings, including both the south and north facing units in 340 E. Randolph right next door, is this a deal for the 2600 square feet?

Danielle Dowell at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #3604: 4 bedrooms, 3 baths, 2600 square feet

• Sold in December 1994 for $456,500
• Sold in June 2016 for $770,000
• Originally listed in June 2017 for $1,599,900 (parking extra)
• Reduced
• Currently listed for $1,499,900 (2 heated garage spaces for $30,000 each available)
• Assessments of $2,314 a month (includes gas, cable, doorman, indoor pool, exercise room, exterior maintenance, snow removal, scavenger)
• Taxes of $16,327
• Central Air
• Full size washer/dryer in the unit
• Bedroom #1: 21×13
• Bedroom #2: 16×12
• Bedroom #3: 16×10
• Bedroom #4: 16×11
• Walk-in closet: 8×5

This 1-bedroom in 535 N. Michigan in Streeterville came on the market in October 2017.

It has already been under contract once.

This building was constructed in 1962 and has 460 units and attached rental parking.

It also has commercial tenants in the front of the building as it fronts the Mag Mile.

This unit faces south.

The listing says it has an “updated bath” and a “newer kitchen.”

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

There are hardwoods in the living/dining area.

While there is central air, there’s no in-unit washer/dryer, only coin laundry in the building, and parking is rental.

This is a full amenity building with an indoor pool and a top floor exercise room with views of the city.

I don’t believe there has ever been a special assessment in this building (but I’m sure some of you will let me know if I’m wrong on that).

That’s amazing given the number of units, the age of the building and the amenities.

The listing says there’s no rental cap in this building.

Is this a great location for an in-town or investment unit?

Chris Vasilakopoulos at Dream Town Realty has the listing. See the pictures here.

Unit #1806: 1 bedroom, 1 bath, 750 square feet

• Sold in September 1997 for $94,000
• Sold in February 1999 for $135,000
• Sold in December 2005 for $238,000
• Originally listed in October 2017 for $239,000
• Under contract once
• Currently listed for $239,000
• Assessments of $615 a month (includes heat, a/c, cable, doorman, exercise room, indoor pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $3139
• Central Air
• No washer/dryer in the unit- coin laundry in the building
• Parking is rental in attached garage
• Bedroom: 17×14
• Living room: 21×13
• Kitchen: 9×7

This 1-bedroom in 1230 N. State Parkway in the Gold Coast came on the market in November 2017.

This building is a full service building built in 1980.

It has 92 units and a parking garage along with a handful of “guest” parking spaces behind the building in the alley.

This unit is a corner unit on the 26th floor with south and west views that clears all of the other buildings nearby.

It also has a 14 foot balcony with a peak of lake views if you look east.

At 1000 square feet, this is a big 1-bedroom that has space for a dining room table.

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

The bathrooms have granite countertops.

It appears to have carpet in the living/dining and bedroom.

The unit also has the features buyers look for including central air, which is included in the HOA, a rare side-by-side washer/dryer and garage parking, which is included in the price.

If you look through the pictures, you can see that the south view includes most of downtown including a gorgeous view of the John Hancock.

Are buyers willing to pay top price for a breathtaking city, but not lake, view?

How much does view matter?

Linda Marcus at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #26D: 1 bedroom, 1.5 baths, 1000 square feet

• Sold in April 1994 for $162,000 (included the parking)
• Sold in December 2000 for $302,500 (included the parking)
• Sold in August 2001 for $350,000 (included the parking)
• Sold in September 2012 for $345,000 (included the parking)
• Assessments of $798 a month (includes heat, a/c, doorman, cable, exercise room, lawn care, scavenger, snow removal)
• Taxes of $6613
• Central Air
• In-unit side-by-side washer/dryer
• 14-foot balcony
• South and West unobstructed views
• Bedroom: 13×13
• Laundry room: 7×3
• Foyer: 11×7

This 1-bedroom in the Waveland Court Condos at 640 W. Waveland in Lakeview recently came on the market.

It’s been 5 years since we chattered about this 50-unit complex which was built in 1926.

Back in the bust years, we covered it quite a bit as many of the condos were in foreclosure.

See our 2012 chatter about a bank owned 1-bedroom here.

Ironically, this unit is also a Fannie Mae HomePath property.

It has hardwood floors throughout.

The living room has a wood burning fireplace.

The kitchen has white cabinets and stainless steel appliances.

It has some features that buyers look for such as an in-unit washer/dryer which is located in the kitchen.

The unit doesn’t have central air but it looks like some condos have window a/c units, nor is there parking.

Listed by Fannie Mae at $208,000, that’s just $8,000 above the 2008 purchase price.

This unit has been sold 4 times since 2003. This sale will be the 5th.

Is it a bad financial investment to buy a 1-bedroom condo?

Jason Reiner at Solid Realty Services has the listing. See the pictures here.

Unit #4B: 1 bedroom, 1 bath, no square footage listed

• Sold in July 2003 for $165,500
• Sold in September 2005 for $194,000
• Sold in April 2008 for $200,000
• Sold in December 2009 for $183,000
• Lis pendens foreclosure filed in September 2016
• Bank owned in October 2017
• Currently listed for $208,000
• Assessments of $326 a month (includes heat, cable, exterior maintenance)
• Taxes of $2511
• No central air
• Baseboard heating
• No parking
• Wood burning fireplace
• Bedroom: 13×10
• Living room: 18×13
• Kitchen: 11×11

This vintage 2-flat at 3815 N. Pine Grove in Lakeview came on the market in March 2017.

Built in 1901 on a larger than normal 30 x 140 lot, it has a backyard garden and 1-car parking.

Both units are 3-bedrooms and have family rooms.

They have original woodwork as well as coffered and beamed ceilings in the living and dining rooms.

The property has lead and stained glass windows as well as an ornate fireplace.

The first floor unit’s kitchen has stainless steel appliances and granite counter tops.

The second floor unit has an alcove off the living room that leads to a private balcony.

It has a full sized basement with laundry.

There’s no central air, only window units.

Here’s the details of both units:

• Unit #1 (owners unit): 1500 square feet, window a/c, parking space
• Unit #2: 1500 square feet, tenant pays electric and gas, rent of $2120 a month, on a month to month lease

15 to 20 years ago, many young people could buy a 2-flat and live in one unit while renting out the other one which then paid for the mortgage.

This 2-flat has been reduced $290,000 to $990,000 since March.

Is buying a 2-flat still the path to real estate riches?

Rachel Cade Cunningham at Coldwell Banker has the listing. See the pictures here.

3815 N. Pine Grove: 6 bedrooms, 2.5 baths, 2-flat

• Sold in July 1991 for $205,000
• Originally listed in March 2017 for $1.28 million
• Reduced several times
• Currently listed at $990,000
• Includes one parking space
• Unit #1: owner’s unit
• Unit #2: $2120 a month
• Net operating income: $26,500
• Taxes of $10,001
• No central air
• Laundry in the basement

This 2-bedroom in Webster Square at 540 W. Webster in Lincoln Park came on the market in October 2017.

Webster Place is a rare, new construction midrise building in Lincoln Park.

It has 89 units ranging from 1 to 4 bedrooms with a doorman and an attached garage.

Closings started in the summer of 2017.

This unit faces south from the third floor and has “city” views.

The listing says the finishes are “upscale.”

The kitchen has modern cabinets with luxury stainless steel appliances.

Parking is available for $55,000 extra.

Does Lincoln Park still have the cache to quickly sell a new building with 89 units?

Andrea Hebner at @Properties has the listing. See the pictures here.

Unit #310: 2 bedrooms, 2.5 baths, 1675 square feet

• Originally listed in October 2017 for $873,000
• Currently still listed for $873,000
• Parking is $55,000 extra
• Assessments of $737 a month (includes heat, a/c, gas, doorman, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes are “new”
• Washer/Dryer in the unit
• Central Air
• Bedroom #1: 12×17
• Bedroom #2: 12×14
• Living room: 13×24