Crib Chatter

These 8 new construction luxury lofts at 223 W. Lake in the Loop came on the market in June 2017.

We last chattered about them in July.

You can read our chatter here.

If you recall, this building was constructed in 1895.

These units have all the features that loft lovers look for including tall reclaimed wood ceilings, exposed brick walls and iron and glass double paned window as the El line runs right in front of the building.

These lofts are all 3 bedroom, 3.5 baths. There are 2 units per floor, one facing north (towards the El) and one facing south (towards office buildings).

The 2 penthouse units each have private rooftop terraces.

They have chef kitchens with white modern cabinets and stainless steel appliances.

The bathrooms are also in the modern style.

There are light wood floors throughout.

From pictures and the 3D tours, it appears that each of the bedrooms have windows, although it looks like they are all frosted for privacy.

Each loft has a private elevator entry. The building has a heated garage but no doorman.

This block of Lake contains several historic brick buildings, including one with a Chipotle on the first floor, as well as Monk’s Pub, one of the oldest restaurants in the loop.

It appears none of these lofts have sold.

But recently 5 of the 8 lofts saw price reductions  including the following:

• Unit #4S: Originally $1.86 million but now reduced 10% to $1.674 million
• Unit #3S: Originally 1.86 million but now reduced 10% to $1.674 million
• Unit #3N: Originally $1,472,500 but now reduced 5% to $1.55 million
• Unit #2S: Originally $1.7 million but now reduced 10% to $1.53 million
• Unit #2N: Originally $1.48 million but now reduced 5% to $1,406,000

Neither of the penthouses nor #4N have been reduced.

• Unit #PHN: Still $2.34 million
• Unit #PHS: Still $2.34 million
• Unit #4N: Still $1.82 million

By Thanksgiving, the market will be in holiday/winter mode where sales slow.

Will these price reductions get the job done before 2018?

Helaine Cohen at Berkshire Hathaway KoenigRubloff is still handling all the listings. You can see pictures of the penthouse here.

Or you can see the 3D tour with floor plan here.

PH-N: 3 bedrooms, 3.5 baths, 2718 square feet

• New construction
• Originally listed in June 2017 for $2.34 million
• Currently still listed at $2.34 million
• Assessments of $679 a month (includes heat, A/C, scavenger, exterior maintenance and snow removal)
• Taxes are “new”
• 1 car heated garage included
• Bedroom #1: 36×14
• Bedroom #2: 26×14
• Bedroom #3: 26×10
• Rooftop Deck: 35×19

This single family home at 2106 N. Hudson in East Lincoln Park recently came on the market (sorry about the bad picture).

Some might remember it if looking in Lincoln Park, as it was also listed early in 2017 and sold a month later, in February.

Built in 1886, it appears to have some kind of landmark designation.

From the prior listing, which called it a “writer’s cottage”:

“R5 zoning allows for SFH or multi-unit construction of over 6,000sf above grade. Landmarked facade eligible for property tax reduction w/ 8yr tax freeze to someone willing to invest at least $35,000 into the home. A tremendous opportunity for the right owner occupant or investor or developer to consider.”

It is on a 25×135 lot.

The current listing says “create your dream East Lincoln Park home.”

There are no interior pictures with the listing.

After being owned by the same family since 1993, it was listed in January 2017 for $799,900 and sold in February 2017 for $860,000.

It has now come back on the market for $1.2 million.

Are East Lincoln Park historic lots this hot that it can command this price increase less than a year later?

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

2106 N. Hudson: listing says 5/3.5 bath, 5000 square foot house could be built here

• Owned by same owner since 1993
• Listed in January 2017 for $799,900
• Sold in February 2017 for $860,000
• Currently listed for $1.2 million
• Taxes are $13,381
• 25×135 lot

This 3-bedroom penthouse at 2800 N. Lincoln in Lakeview recently came on the market.

This is a new construction building by Noah Properties on what used to be a parking lot.

It’s on the corner of the 3 street intersection at Diversey, Racine and Lincoln in South Lakeview. Across the street is a Gino’s East pizzeria.

This is a 7 unit building, with 6 residential units and 1 commercial unit on the first floor, along with an indoor garage.

Each unit is a single floor 3-bedroom, 2 bath unit.

There’s an elevator with private entry into each unit.

This penthouse is 2100 square feet and also has a private rooftop deck with a wet bar and beverage cooler with 360 degree views of the city as the building just clears the buildings to the south.

The listing also says you can take the elevator directly from the garage up to the rooftop deck. I’m assuming that means there is no interior staircase to get up there. You have to hop into the elevator to get to the rooftop deck.

The developer has built a model unit, which has dark wide plank wood floors throughout along with floor to ceiling windows.

The kitchen has white modern cabinets and stone counter tops.

The master bath has a steam shower and body sprays along with heated floors.

The unit has a laundry room and a covered front terrace, measuring 19×13.

3 out of the 6 units are already under contract:

• #4N: $1,009,900 under contract
• #4S: $999,900
• #3N: $959,900
• #3S: $949,900
• #2N: $909,900 under contract
• #2S: $899,900 under contract

This building is in the Agassiz Elementary school district.

Is Lakeview now a neighborhood where only luxury housing will be built going forward?

And who is the target buyer of these units?

Melissa Govedarica at Sergio & Banks has the listing. See the pictures here.

Unit #4S: 3 bedrooms, 2 baths, 2100 square feet, penthouse

• New construction
• Currently listed for $999,900 (includes garage parking)
• Assessments aren’t listed
• Taxes are “new”
• Bedroom #1: 14×13
• Bedroom #2: 12×11
• Bedroom #3: 13×12
• Laundry room: 8×6
• Utility room: 4×3
• Terrace: 19×13
• Balcony off master bedroom: 12×5
• Rooftop deck: 35×17

This 2-bedroom at 345 W. Fullerton Parkway in Lincoln Park came on the market in August 2017.

These buildings were constructed in 1972 and has 216 units along with rental parking.

The listing for this unit says “just completed rehab.”

The kitchen has new quartz countertops and stainless steel appliances with white cabinets.

The bathrooms have quartz vanities with vessel sinks.

The living room and bedrooms have new carpet and there are hardwood floors in the entry way and kitchen.

This unit has straight on views of Lincoln Park.

It has central air and “rare” washer/dryer in the unit (as not all the units have it.)

Parking is rental in the building.

Listed at $324,900 in August, it is now listed higher at $339,900.

Thinking of buying to rent it out? Other listings in the building, that have closed recently, said there was a rental cap with a wait list for renting.

At under $340,000, is this a deal for someone looking for a 2/2 in East Lincoln Park?

Kyle Miller at Carl Miller & Son has the listing. See the pictures here.

Unit #1208: 2 bedrooms, 2 baths, 1100 square feet

• Sold in February 1993 for $140,000
• Sold in May 2005 for $296,000
• Sold in June 2010 for $245,000
• Originally listed in August 2017 for $324,900 (per Zillow)
• Raised
• Currently listed for $339,900
• Assessments of $787 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes of $5147
• Central Air
• Washer/dryer in the unit
• Parking is rental for $175-$215
• Bedroom #1: 16×12
• Bedroom #2: 11×10
• Living room: 24×14
• Dining room: 8×7

This 3-bedroom penthouse in Burnham Park Plaza at 40 E. 9th in the South Loop recently came on the market.

It’s a duplex that acts like a single family home or a townhouse.

The main level is an open concept with the living/dining and kitchen, the 3 bedrooms and a den.

The kitchen has stainless steel appliances, dark cabinets, and what looks like granite counter tops.

The second floor has a 26×24 great room, which could possibly be a fourth bedroom as there is a full bath as well as a closet.

The second floor also has a huge 26×46 wraparound private roof deck with city views.

It has central air and washer/dryer hook up in the unit (not sure why you wouldn’t install this if the hook-ups are there). The assessments include the heat and air.

The unit also has 2 car deeded garage parking included.

Back in the bust, this unit became bank owned in 2010. They couldn’t sell it but finally did at an auction sale in 2011 for $365,500.

It has come back on the market for $675,000.

Has the market finally healed itself from the bust?

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

Unit #1916: 3 bedrooms, 4 baths, no square footage listed, duplex up

• Sold in September 2006 for $1.55 million
• Bank owned in February 2010
• Listed but didn’t sell
• Finally sold at auction in March 2011 for $365,500
• Currently listed for $675,000 (2 car parking included)
• Assessments of $2191 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $14,313
• Central Air
• Washer/Dryer hook-ups in the unit
• Bedroom #1: 15×29 (main level)
• Bedroom #2: 15×10 (main level)
• Bedroom #3: 11×8 (main level)
• Den: 13×8 (main level)
• Family room: 26×24 (second level)
• Deck: 26×46

This 4-bedroom penthouse at 3760 N. Fremont in the Wrigleyville neighborhood of Lakeview has been on the market since May 2017.

Built in 1999, the building has 3 units and garage parking.

This is the preferred layout with a duplex up.

It has 18 foot cathedral ceilings in the living room and a all purpose loft on the second floor.

The unit has a private rooftop deck with views of Wrigley Field and the city in the distance. It has a wood pergola and planters.

There’s a master suite with a walk-in closet on the second floor and a second master suite on the first floor.

The kitchen has granite counter tops and stainless steel appliances. It also has maple cabinets, but there are pictures in the listing that show those cabinets painted white. (Complaints from possible buyers that they’re not white???)

There’s central air and garage parking is included.

Since May, this unit has been reduced $50,000 to $689,000. That is below the 2007 sales price of $725,000.

With so many new 3 and 4 bedroom units on the market in Lakeview, can these older construction condos compete?

Danielle Wylie at Baird & Warner has the listing. See the pictures here.

Unit #3: 4 bedrooms, 3 baths, 3000 square feet

• Sold in January 2000 for $550,000
• Sold in July 2002 for $669,000
• Sold in June 2007 for $725,000
• Originally listed in May 2017 for $739,000
• Reduced twice
• Currently listed at $689,000
• Assessments of $223 a month (includes exterior maintenance and scavenger)
• Taxes of $12,719
• Central Air
• Washer/Dryer in the unit
• Garage parking included
• Private rooftop deck
• Bedroom #1: 18×15 (second floor)
• Bedroom #2: 11×10 (second floor)
• Bedroom #3: 18×14 (main level)
• Bedroom #4: 11×11 (main level)
• Loft: 16×11 (second floor)

According to Crain’s, one of the city’s mansions just sold to an heir of the Thai Red Bull fortune.

They do not, apparently, have ties to Chicago.

The house, which sold on Oct 11 for $7.5 million, is on Bellevue in the Gold Coast. Originally listed for $9 million, it was reduced $1 million before selling.

It is, so far, the most expensive single family home sale of the year.

Read the Crain’s coverage here.

But there are plenty of other expensive homes on the market.

In just Lincoln Park, there are currently 21 single family homes on the market listed for more than $4 million.

Included in those is the Theurer-Wrigley mansion at 2466 N. Lakeview.

We have chattered about it several times over the years and chattered about it again in February 2017 when it returned to the market…again.

See that chatter here.

If you recall, this is a special home.

It was listed on the National Register of Historic Places in 1980.

It has much of the features of a mansion built in 1896 including original cherry and mahogany wood paneling and staircases. It has crown molding and 5 fireplaces along with herringbone floors.

The main house has 9-bedrooms in 13,705 square feet. 5 of the bedrooms are on the second floor, three are on the third and one is in the lower level.

From the listing of what else the house includes:

“a grand foyer; a solarium; butler’s pantry; wine bar; walk-in vault; game rooms; staff quarters; a mahogany paneled library; sprawling master suite with his and hers baths; and top floor ball room with unobstructed Lincoln Park and Lake Michigan views.”

Yes, it actually has a grand ballroom.

No one is building one of those in a house anymore.

There is also a 2000 square foot coach house with 2 residential units on the 85×120 property with 5-car parking, 3 cars in a garage and 2-cars on the driveway.

There’s no central air and the kitchen, according to Crain’s, needs work. There are a few pictures of it in the listing.

In February, it was listed at $7.1 million but has been reduced to $5.5 million.

With the stock market at record highs, sales of the upper bracket have been strong.

But is there simply too much inventory now? Or is Chicago’s economy up to the challenge at that price point?

Anthony Disano at Parkvue Realty still has the listing. See the pictures here (be sure to check out the ballroom) as well as the floor plans, which are helpful:

2466 N. Lakeview: 9 bedrooms, 7.5 baths, 13,705 square feet in the main house, coach house with 2 apartments, 5 car parking

• Sold in April 2004 for $9 million
• Lis pendens foreclosure filed in May 2011
• Was listed in October 2011 for $9.5 million
• Withdrawn in October 2012
• Was listed in November 2014 for $8.695 million
• Withdrawn
• Bank owned by Bank of America in September 2016
• Was listed in February 2017 for $7.15 million
• Reduced
• Currently listed for $5.5 million
• Taxes are now $150,325 (they were $145,294 in 2014 and $118,395 in 2011)
• No central air- window units only
• 2 apartments in coach house for staff
• 5 fireplaces
• Ballroom
• Library: 16×14 (main floor)
• Bedroom #1: 20×17 (second floor)
• Bedroom #2: 18×12 (second floor)
• Bedroom #3: 14×12 (second floor)
• Bedroom #4: 20×13 (second floor)
• Bedroom #5: 15×12 (second floor)
• Bedroom #6: 18×13 (third floor)
• Bedroom #7: 19×16 (third floor)
• Bedroom #8: 11×10 (third floor)
• Bedroom #9: 15×12 (lower level)

This 2-bedroom at 1805 N. Orleans in Old Town came on the market in September 2017.

This is a 9-unit complex without parking in the heart of the historic Old Town neighborhood.

This is a garden unit.

It has hardwood floors and each bedroom has an en suite bathroom.

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

The unit also has a separate dining room.

It has in-unit washer/dryer but wall cooling.

There’s no parking but the listing says “easy street parking” and you’re in the middle of Old Town near grocery stores, restaurants and public transportation.

The deck in the pictures is shared with other units.

There isn’t high turn over of this unit. Three of the last four owners have each owned it for 5+ years.

Listed for $330,000, it has been reduced to $317,500.

Is this a good way to get into the Old Town neighborhood as a first time buyer?

Millie Rosenbloom at Baird & Warner has the listing. See the pictures here.

Or you can see it at the Open Houses this weekend: Saturday, Oct 28 from 11-1 PM and Sunday, Oct 29 from 11-1 PM.

Unit #2G: 2 bedrooms, 2 baths, no square footage listed, garden unit

• Sold in January 2000 for $150,000
• Sold in April 2002 for $261,000
• Sold in June 2007 for $329,000
• Sold in May 2012 for $282,000
• Originally listed in September 2017 for $330,000
• Reduced
• Currently listed for $317,500
• Assessments of $282 a month (includes heat, gas, scavenger)
• Taxes of $2727
• No central air- wall units
• Washer/dryer in the unit
• No parking
• Bedroom #1: 10×10
• Bedroom #2: 12×10
• Office: 7×6
• Dining room: 8×7
• Living room: 19×15

This 3-bedroom row house at 3808 N. Alta Vista Terrace in Lakeview came on the market in June 2017.

Alta Vista Terrace is a Chicago Landmark District.

These 40 row homes were built from 1900 to 1904 and were built to look like London row homes.

From the Chicago Landmark website:

This street represents one of the last real estate developments of Samuel Eberly Gross, a highly colorful realtor responsible for the construction of thousands of houses in the Chicago area. Sometimes called “A Street of Forty Doors,” Alta Vista Terrace displays a lively variety of architectural styles and detail, yet every townhouse on one side is duplicated with only minor variations at the diagonally opposite end of the block. The distinctly human scale creates a unity and harmony rarely found elsewhere in the city.

There is no parking on the east side of the street but the west side has space behind the row homes for a garden or 1-car parking.

This row house is on the preferred west side of the street and has 1-car secured parking along with a landscaped patio.

The lot measures 25×40.

The house has some vintage features, including oversized bay windows with leaded glass in the living room and a built-in hutch and brick fireplace in the dining room.

The three bedrooms are on the second floor along with a 6×7 den and a bathroom.

The listing says there is a “chef’s kitchen” with white cabinets, stainless steel appliances, granite counter tops, the original tin ceiling and a built-in banquette.

It also has an “English basement” with a family room, a laundry room, a full bath and storage.

The row house has 2 fireplaces and central air.

The listing also says it has new mechanicals and a new roof.

Originally listed for $899,000 in June, it has been reduced $100,000 to $799,000.

We’ve chattered about several of these row homes over the years. In 2011-2012, some of these would sell in the $500,000s.

But that was in a slow market.

Now, at $799,000, this row house is no longer in the starter home category.

Who are the target buyers for these now?

Won’t these be turning over to the next generation of buyers, i.e. the Millennials?

Will Millennials want to live on a historic street such as this?

There are currently 3 of these row homes on the market.

Julie Sachs Capps at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

3808 N. Alta Vista Terrace: 3 bedrooms, 2 baths, 2010 square feet, row house

• Sold in January 1988 for $235,000
• Sold in June 1996 for $350,000
• Sold in March 2000 for $450,000
• Sold in May 2005 for $720,000
• Originally listed in June 2017 for $899,000
• Reduced
• Currently listed at $799,000
• Taxes of $11,351
• Central Air
• 1-car outdoor parking
• Bedroom #1: 12×12 (second floor)
• Bedroom #2: 9×12 (second floor)
• Bedroom #3: 12×11 (second floor)
• Family room: 14×20 (lower level)
• Laundry room: 10×8 (lower level)
• Den: 6×7 (second floor)

This 3-bedroom single family home at 3037 W. Leland in Ravenswood Manor came on the market in May 2017.

Built in 1906, it is on a larger than standard Chicago lot of 30×140.

It has a 2-car detached garage and a deck with a hot tub.

The house has hardwood floors in the living and dining room.

The kitchen has white cabinets, stainless steel appliances and a breakfast bar.

It has the layout most buyers look for with all three bedrooms on the second floor, including the master suite.

The second floor also has skylights.

The listing also says it has an unfinished basement.

This house is about 6 blocks from the Francisco brown line stop. The Rockwell street restaurants and Lincoln Square shops are within walking distance.

Originally listed for $475,000, it has been reduced and is now listed at $424,900.

This house was under contract in September but has now come back on the market.

We’ve been chattering about the high prices in some parts of the city, especially on the north side.

Is this house a good starter home for those looking on the north side?

Thomas Moran at @Properties has the listing. See the pictures here (sorry, I don’t have a street shot of this house but I wanted to crib about it anyway.)

3037 W. Leland: 3 bedrooms, 2.5 baths, 1952 square feet

• Sold in December 1986 but there’s no price listed
• Sold in June 2011 for $375,000
• Originally listed in May 2017 for $475,000
• Reduced
• Under contract in September 2017
• Currently listed for $424,900
• Taxes of $5919
• Central Air
• 2-car garage
• Bedroom #1: 19×14 (second floor)
• Bedroom #2: 18×10 (second floor)
• Bedroom #3: 13×10 (second floor)