Crib Chatter

This 3-bedroom at 353 W. Chicago in River North just came on the market.

This is a vintage 6-unit building which is getting rare for this neighborhood as developers continue to tear down the older, smaller vintage buildings in order to build new high rises.

Unfortunately the outside vintage character doesn’t extend to the inside of the unit.

This building was converted into condos in 2002 and it looks like all the vintage character was stripped out.

The kitchen has maple cabinets, granite counter tops and a stone backsplash with an island.

There’s a spa master bath.

The unit has hardwood floors throughout and a gas fireplace.

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

Like a lot of vintage buildings, there doesn’t appear to be an elevator in the building.

At 1800 square feet, this unit has almost as much room as many nearby townhouses that are north of Chicago Avenue.

Listed at $550,000, is this a deal for a 3-bedroom with this square footage?

Mary Aloisio at Re/Max has the listing. See the pictures here.

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

• Sold in March 2002 for $355,000 (included the parking)
• Sold in December 2005 for $510,000 (included the parking)
• Sold in May 2013 for $450,000 (included the parking)
• Currently listed at $550,000 (includes the parking)
• Assessments of $282 a month (includes exterior maintenance, scavenger and snow removal)
• Taxes of $8005
• Pet friendly
• Fireplace
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 18×13
• Bedroom #2: 15×10
• Bedroom #3: 13×10

This top floor vintage 2-bedroom at 2817 N. Cambridge in East Lakeview just came on the market.

The building has 13 units and a shared deck.

It has some vintage details including hardwood floors and a decorative fireplace.

The unit has a large formal foyer, a full sized dining room and an extra den off the living room.

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

There’s a marble bath.

The unit has in-unit washer/dryer and a private brick 1-car garage, but there is no central air.

It last sold in 2014 and has come on the market for 10.6% more, at $390,000.

Will this sell right away because it has a rare East Lakeview garage?

Mark Shapiro at Dirk Gould Realty has the listing. See the pictures here.

Unit #3N: 2 bedrooms, 1 bath, no square footage listed

• Sold in April 1995 for $200,000 (parking included)
• Sold in September 2002 for $320,000 (parking included)
• Sold in August 2014 for $352,500 (parking included)
• Currently listed for $390,000 (garage parking included)
• Assessments of $409 a month (includes exterior maintenance, heat, lawn care, scavenger, snow removal)
• Taxes of $7444
• No central air
• Washer/dryer in the unit
• Bedroom #1: 13×10
• Bedroom #2: 12×8
• Den: 15×11
• Dining room: 13×12

This 3-bedroom at 860 N. Lake Shore Drive in the Gold Coast just came on the market.

This is one of the Mies Van Der Rohe buildings that sit alongside Lake Michigan and the Drive.

Built in 1951, it has 96 units.

This is the co-op building.

This unit has north and west views (with some lake views) and has had a gut renovation.

It has cork floors throughout and floor-to-ceiling windows common in these buildings.

The kitchen has modern white cabinets, but no upper cabinets. It also has stainless steel counter tops and a Onyx wall.

The refrigerator appears to be the smaller drawer units tucked near the dishwasher.

The bathrooms have also been renovated and have porcelain Carrara tile.

The master bedroom has a walk-in closet and a master bath.

Because this is a co-op, the property taxes are included in the assessment. Additionally, the assessment includes everything except your phone including electricity, cable, Internet, heat and air conditioning.

Parking is available for $50,000 extra.

There’s no in-unit washer/dryer but there is coin laundry  in the building.

With the popularity of West Elm and Design Within Reach, are the Mies buildings hotter than ever?

Shaun Moskalik at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #19J: 3 bedrooms, 2 baths, 1600 square feet

• Sold in April 2012 for $225,000 (according to Redfin. This was a “bring your contractor” sale where the unit had been “gutted to the studs” already.)
• Currently listed for $549,900 (plus $50,000 for parking)
• Assessments of $2248 a month (includes property taxes, parking, heat, air conditioning, electricity, cable, Internet, doorman, exercise room, on-site management M-F, snow removal, exterior maintenance). In 2012, according to the prior listing, assessments were $1947 a month.
• Taxes included in assessments
• Central Air
• No washer/dryer in the unit. Coin laundry in the building
• Bedroom #1: 17×11
• Bedroom #2: 12×9
• Bedroom #3: 14×11

The spring market started off on a blistering pace as buyers rushed to buy on fears of rising mortgage rates.

From the Illinois Association of Realtors:

The city of Chicago saw a 15.3 percent year-over-year home sales increase in March 2017 with 2,478 sales, up from 2,149 in March 2016. The median price of a home in the city of Chicago in March 2017 was $295,000, up 9.7 percent compared to March 2016 when it was $269,000.

Historic data courtesy of G:

City of Chicago condo/TH/SFH closed totals March
year/closed/median/% REO-Short Sales
Year Closed Median %REO/SS
1997 1,226 $126,875
1998 1,540 $137,003
1999 1,766 $152,125
2000 1,793 $167,500
2001 1,800 $195,000
2002 2,112 $210,000
2003 2,261 $225,000
2004 2,772 $244,950
2005 2,822 $271,125
2006 3,000 $275,862
2007 2,399 $285,000
2008 2,098 $300,000
2009 1,219 $217,000 37%
2010 1,860 $207,750 38%
2011 1,481 $163,763 49%
2012 1,630 $170,500 44%
2013 1,894 $187,500
2014 1,875 $235,000
2015 2,173 $260,000
2016 2,149 $269,000
2017 2,478 $295,000

“Home sales were stronger than usual throughout historically slower months, and now, with the spring market in full swing, the numbers are proving to be more robust than anticipated,” said Matt Silver, president of the Chicago Association of REALTORS® and partner at Urban Real Estate. “As the economy improves, demand continues to grow, and while inventory shortages will possibly play a larger role, for now, we are seeing strong and favorable selling conditions, and those who are looking to buy a home should be prepared to move quickly and decisively.”

The average thirty year mortgage was 4.2% in the month, up from 3.7% a year ago.

Statewide, market times continued to plunge as inventory fell. The average market time declined to 67 days from 77 days a year ago.

“In inflation adjusted terms, both the Illinois and Chicago housing markets have recovered to their pre-recession levels,” said Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) at the University of Illinois. “The consumer indices still reflect a positive outlook on the economy although the Home Purchase Sentiment Index declined, reflecting some elevated concerns about job security.”

“Consumers this spring have no choice but to be nimble as they find fewer homes on the market and increased competition for those homes,” said Illinois REALTORS® President Doug Carpenter, ABR, AHWD, GRI, SFR of Mokena, managing broker of Coldwell Banker Honig-Bell in Orland Hills. “Many of the REALTORS® I talk to are reporting an increase in multiple offer situations, which means buyers can’t dawdle when they find what they want and they may want to make sure any offer they bring is an aggressive one.”

I’ve been hearing tales of bidding wars even on 1-bedroom condos in the GreenZone. That indicates to me that some Millennials are tired of renting.

When will one of the new luxury apartment towers go condo conversion?

Do the numbers make sense for developers to change direction?

What, if anything, will slow this market down?

Illinois housing market swings into spring with jump in home sales, prices (Illinois Association of Realtors, Press Release, April 21, 2017)

This 2-bedroom at 2944 N. Broadway in Lakeview just came on the market.

But if it looks familiar, that’s because we’ve chattered about this building several times over the years, including all the way back in September 2008.

See the 2008 chatter here including interior pictures.

This unit has been on and off the market several times over the last 9 years. It has never sold.

If you recall, this is a vintage building but it has the amenities buyers look for including central air, washer/dryer in the unit and parking.

The kitchen has wood cabinets, granite counter tops and mixed black and white appliances.

There’s a wood burning fireplace in the living room along with bay windows.

This unit has come back on the market for less than when we last chattered about it in 2013.

Redfin has labeled this a “hot home.”

At $299,900, will this price and the hot market FINALLY produce a sale?

Jeremiah Fisher at Jameson Sotheby’s has the listing. See the pictures here.

Unit #2N: 2 bedroom, 1 bath, 1000 square feet

• Sold in May 1999 for $159,000
• Sold in March 2002 for $255,000
• Sold in June 2005 for $295,000
• Was listed in September 2008 for $308,800 (parking included)
• Withdrawn
• Was listed in June 2013 for $305,000 (parking included)
• Withdrawn
• Currently listed at $299,900 (parking included)
• Assessments were $163 a month in 2008 and in 2013 but are now $216 a month (includes exterior maintenance, snow removal and scavenger)
• Taxes are now $5031 (they were $5410 in 2013 and $2724 in 2008)
• Central air
• Washer/Dryer in the unit
• Wood burning fireplace
• Bedroom #1 now 13×10 (it was 12×9 in 2013)
• Bedroom #2 now 12×10 (it was 10×11 in 2013)

This 3-bedroom at 1621 S. Halsted in Pilsen came on the market in March 2017.

This building was constructed in 2002 and has 32 units with a parking garage.

This is a south and east facing top floor unit.

The kitchen/living and dining rooms have hardwood floors and the listing says the bedrooms have new carpet.

The third bedroom is open to the other living space and could be used like a den.

The kitchen has light wood cabinets, granite counter tops, including a breakfast bar, and stainless steel appliances.

There is a master suite with a stone double bowl sink in the bathroom.

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

This unit has only had one owner since it was built.

It has come on the market for $32,000 more than the 2003 purchase.

Has Pilsen lived up to the hype from earlier this century that it would be one of the next hot neighborhoods?

Or is the “hotness” still to come?

Pasquale Recchia at @Properties has the listing. See the pictures here.

Unit #602: 3 bedrooms, 2 baths, 1600 square feet

• Sold in May 2003 for $357,000 (included parking)
• Originally listed in March 2017 for $389,000 (includes parking)
• Currently still listed for $389,000 (includes parking)
• Assessments of $470 a month (includes cable, Internet, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $4470
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×13
• Bedroom #2: 13×10
• Bedroom #3: 13×10

This 2-bedroom vintage duplex at 317 W. Webster in East Lincoln Park came on the market in March 2017.

It went under contract within days but recently was re-listed.

This complex was built in 1892 and has 8 units.

We chattered about another first floor unit next door at 319 W. Webster in 2012. That was the low of the market, however, and many of you thought a 2 bedroom with just 1.5 baths would sell for around $400,000. Anonny argued it was hard to find a 2-bedroom with parking at that price point in “real” East Lincoln Park.

See our 2012 chatter here.

The listing for this unit says it “Looks like Paris” and “Feels like Paris” with high ceilings and new windows.

The first floor contains the two bedrooms and the den.

The second floor is the living/dining and kitchen area.

The listing says it is a “completely redone new kitchen” with gray cabinets, back splash, a big island and high end appliances open to the dining room.

Are those tile herringbone floors? (not wood?)

The kitchen leads to an outdoor terrace and a shared, with one other unit, 20×19 deck.

The fireplace is wood burning.

It has the features buyers look for including central air, washer/dryer in the unit and a garage parking space.

As Anonny has argued over the years, it’s hard to get all these features in a true East Lincoln Park location (i.e. actually near the zoo and the park.)

It’s listed for $599,000.

Will they get full price in this hot market even though it’s just a 1.5 bath unit?

Suzanne Gignilliat at Coldwell Banker has the listing. See the pictures here.

Unit #1: 2 bedrooms, 1.5 baths, 1782 square feet, duplex

• Sold in August 1997 for $295,000
• Sold in November 2004 for $410,000
• Originally listed in March 2017 for $599,000
• Under contract in April 2017
• Re-listed at $599,000
• Assessments of $365 a month (includes exterior maintenance and snow removal)
• Taxes of $7317
• Central Air
• Washer/Dryer in the unit
• Garage parking included
• Bedroom #1: 14×12 (lower level)
• Bedroom #2: 10×14 (lower level)
• Den: 14×5 (lower level)
• Shared deck: 20×19

This 2-bedroom penthouse in Case Study at 156 W. Superior in River North recently came on the market.

Some of you may remember this property because we chattered about it in 2013. You can see our chatter here.

If you recall, Case Study was designed by Miller Hulls in 2006 and has just 11 units.

This penthouse is a duplex with the living areas on the main floor and the private rooftop terrace on the upper floor.

It has a private keyed elevator and 3 outdoor spaces, including the 1200 square foot terrace.

The kitchen has Arclinea high gloss white cabinets, Gaggenau appliances and a 14-foot kitchen island.

Are those concrete floors throughout?

There is also an Elan G smart home system with central remote.

For those with cars, a rare 2-car garage is included in the price.

In 2013, Case Study was in its own little world with an old motel across the street and empty parking lots nearby. But in 2017, there is new construction everywhere.

The old motel is gone and has been replaced by a high rise apartment building directly south of this unit and its rooftop deck. See the picture below.

In 2013, this unit went under contract in just 3 months.

Will the change in views be an impediment to the sale this time around or will city dwellers shrug and go with the flow?

Brooke Venderbok at @Properties has the listing. See the pictures here– with plenty of pictures of the rooftop terrace and views.

Unit #PH: 2 bedrooms, 2 baths, 3000 square feet, duplex, 2 car garage

• Sold in August 2006 for $1.635 million
• Sold in November 2013 for $2.4 million
• Currently listed for $2.495 million
• Assessments now $910 a month (they were $639 a month in 2013) includes exterior maintenance and snow removal
• Taxes are now $29,927 (they were $21607 in 2013)
• Central Air
• Washer/Dryer in the unit
• Private rooftop deck that is 1200 square feet
• Bedroom #1: 21×13 (main level)
• Bedroom #2: 19×13 (main level)
• Gallery: 26×5

Do you have $8,900 a month to spend on rent?

This 3-bedroom on the 9th floor of the new luxury mid-rise at 400 W. Huron in River North is the first property to come back on the market either for sale or as a rental in the building.

These are the first interior pictures of the units.

Built by Smithfield, builder of the uber-popular contemporary 30 W. Oak in the Gold Coast, it has just 26 units.

The building has a doorman, fitness center, dog run and wine storage.

This unit has east views with a large terrace.

It has 10 foot ceilings and gray slate floors in the main living space.

The open kitchen has modern white Valcucine cabinetry and Miele stainless steel appliances.

The other rooms have stone floors and the baths are done in Carrara marble.

It has other features that buyers and renters look for including a side-by-side washer/dryer and rare 2-car garage parking.

The rental listing says they prefer a 2-year lease.

The building is sold out. Several other new luxury mid-rises are going up in the blocks nearby.

Will this building do for River North’s luxury scene what 30 W. Oak did for the Gold Coast?

Will it take it to another level?

Berkshire Hathaway KoenigRubloff has the rental listing. See the interior pictures here.

Unit #903: 3 bedrooms, 2.5 baths, 2370 square feet

• Originally listed from the developer for $1.4 million (don’t have the closing prices yet)
• Available for rent for $8,900 a month (includes 2-car garage parking)
• Assessments as listed from the developer for this unit are: $1,863 a month (includes cable, Internet, doorman, heat, air conditioning, gas, exterior maintenance, snow removal, scavenger, fitness room)
• Prefers 2-year lease
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 18×14
• Bedroom #2: 13×12
• Bedroom #3: 13×12
• Laundry room: 7×8
• Terrace: 8×44

This 1-bedroom in 1200 N. Lake Shore Drive in the Gold Coast recently came on the market.

Built in 1914 by Benjamin Marshall, the building has just 13 units.

This 950 square foot unit faces north and west, so there aren’t lake views.

It has been renovated with top of the line finishes.

There are 10 foot ceilings and all new Marvin windows. The hardwood floors are original.

The kitchen was chef designed with a custom tile backsplash, white cabinets, leathered quartzite counter tops with bar seating and Viking, Bosch, Sharp and Fisher & Paykel appliances.

There is a marble bar and office niche in the hallway along with white cabinets.

The bedroom is en suite.

The bathroom has a heated floor and towel rack and a Villeroy & Boch sink and vanity.

The listing says the electrical and plumbing have been updated. There’s space pac cooling.

There’s no parking with this building, but valet parking is available next door. There’s also no washer/dryers in the units. There’s a laundry room in the building.

This unit sold just 5 months ago for $215,000. It has come back on the market renovated at $449,888.

Is this a vintage lover’s dream?

Christine Morgan at @Properties has the listing. See the pictures here.

Unit #705: 1 bedroom, 1 bath, 950 square feet

• Sold in February 1998 for $190,000
• Sold in November 2016 for $215,000
• Currently listed for $449,888
• Assessments of $1084 a month (includes heat, doorman, exterior maintenance, scavenger and snow removal)
• Taxes of $1153 (this was a senior exemption)
• Space pac cooling
• No in-unit washer/dryer
• No parking- but valet parking is available next door
• Bedroom: 16×12