Crib Chatter

There’s time for one last summer fling so Crib Chatter will be on vacation this entire week.

Chatter amongst yourselves.

I’ll have the update on the market conditions when I come back. Meanwhile, Gary always provides links to his data ahead of time so you can check the July data there.

Fall is a good time to check in on how some of the areas outside of the GreenZone are faring. Look for some posts on our favorite non-GreenZone neighborhoods coming up.

And will we see slowing in the million dollar bracket this fall?

Everyone who has a penthouse to sell is listing right now. I’ve never seen so many penthouses on the market at the same time. Will they all be able to get out with big gains?

See you in a week-

Sabrina

The Centrum Lakeview, a luxury boutique apartment building, at 1714 W. Roscoe in Lakeview just finished construction and is now leasing.

Anyone who takes the Brown Line from the north side has watched this building go up because it is right next to the Paulina Brown Line stop.

It has 39 units and just 7 parking spaces, but the whole point of the location is that you’re supposed to take public transportation if you live there so there isn’t parking for every unit.

There’s not a lot of new apartment construction in this neighborhood.

The units have luxury finishes and include in-unit washer/dryer and central air.

The kitchen cabinets are Italian designer cabinets by Abaco by Snaidero. There are pearl quartz counter tops in the kitchen and bathrooms.

The floors are Balterio gray-tone plank throughout.

The units have floor to ceiling windows and the windows on the north side, which face the L, are acoustically treated to abate the noise.

A Bow Truss Coffee is supposedly going in on the bottom floor.

Here are some of the units and the rental prices:

• A 542 square foot studio: $1822 a month (this is the cheapest unit in the building)
• A 835 square foot 1-bedroom: $2720-$2765 a month
• A 1031 square foot 2/2: $3143-$3225 a month

The building also allows 2 pets per unit. There is a $500 non-refundable pet fee for the first pet and a $300 pet fee for the second pet.

Additionally, there appears to be a $25 a month pet “rent” as well. See the details here.

We have seen rents at these price points (and per square footage price point) in many of the new construction apartment high rises in the downtown neighborhoods.

Can they get these prices for a building on the border of Lakeview and Roscoe Village?

And who is the target renter for this?

You can check out the building’s website below, which also includes some pictures of the interiors of the units and the building amenities.

Website: Centrum Lakeview

This 3-bedroom duplex penthouse in the Aqua Tower at 225 N. Columbus in Lakeshore East just came on the market.

It’s on the 80th floor and faces north so there are views of the John Hancock Building as well as the Lake.

The main floor appears to have about 12 foot ceilings and has the living/dining rooms and the kitchen.

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

The second floor has the bedrooms and laundry and ceilings that appear to be around 16 feet.

The unit has 2 fireplaces and 2 car parking is included.

Chicago is a rare American city with residences as high as the 80th floor (and higher.)

Is living this high the goal for every high rise condo dweller?

What are the pros and cons of super high rise living?

And would you ever go out on the “undulating balcony” this high up?

Leila Zammatta at Magellan Realty has the listing. See the pictures here.

Unit #8004: 3 bedrooms, 3.5 baths, 3500 square feet, duplex

• Sold in July 2010 for $2,291,500
• Currently listed for $5.5 million (includes 2 parking spaces)
• Assessments of $2376 a month (includes heat, a/c, gas, doorman, cable, Internet, exercise room, pool, exterior maintenance, scavenger, snow removal)
• Taxes of $34057
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 21×14 (second floor)
• Bedroom #2: 12×13 (second floor)
• Bedroom #3: 13×13 (second floor)
• Laundry room: 8×9 (second floor)
• Living room: 20×25 (main floor)

This 2-bedroom corner unit in Millennium Centre Tower at 33 W. Ontario in River North just came on the market.

Built in 2003, the building has 365 units and a parking garage.

This unit is on the southeast corner.

The kitchen has cherry cabinets, black appliances and granite counter tops and is open to the living room with an island.

It has a washer/dryer in the unit and central air.

Millennium Centre is a full service building with an outdoor pool, fitness room, party room, drycleaners and doormen.

The assessment of $730 a month includes the amenities as well as heat, air conditioning, gas, snow removal, exterior maintenance and cable. The Redfin listing doesn’t say it includes premium channels or Internet but the Redfin listing doesn’t always list everything.

This unit doesn’t come with parking, which usually has an extra assessment.

Is this assessment of $730 “cheap” for a full service building with an outdoor pool?

What’s “cheap” and what’s “expensive” when you’re getting services and amenities as well as heat, a/c, gas and cable?

Jayne Alofs at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #16B: 2 bedrooms, 2 baths, 1289 square feet

• Sold in July 2003 for $406,000
• Sold in November 2004 for $575,000
• Lis pendens filed in July 2005
• Bank owned in April 2006
• Sold in April 2007 for $370,000 (no parking included)
• Currently listed for $488,000 (no parking included)
• Assessments of $730 a month (includes cable, heat, a/c, gas, pool, fitness room, party room, drycleaners, doorman, snow removal, exterior maintenance and bike room)
• Taxes of $5865
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×12
• Bedroom #2: 16×10

This 2-bedroom on the 18th floor at 2020 N. Lincoln Park West in Lincoln Park just came on the market.

It has southwest views with a peak of the Lake and Park.

There are hardwood floors throughout.

The kitchen has a kitchen island with granite counter tops and a rare kitchen window.

There’s a west facing balcony off the dining room.

It has central air and parking is available for rent in the building for $190 a month. There’s no in-unit washer/dryer.

The listing says there are $4.5 million in reserves and that there hasn’t been a special assessment in the building in 25 years.

The assessment includes a lot of amenities including an outdoor pool, exercise room, clubhouse and sauna as well as heat, air conditioning, high speed Internet and cable with a TiVo box.

Are the big luxury buildings like living in your own year round resort?

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

Unit #18M: 2 bedrooms, 2 baths, 1102 square feet

• Sold in September 2001 for $352,500
• Currently listed for $379,000
• Assessments of $949 a month (includes heat, c/a, Internet, cable with TiVo, doorman, pool, gym, sauna, clubhouse, lawn care, exterior maintenance, scavenger, snow removal)
• Taxes of $6876
• Central Air
• No washer/dryer in the unit
• Parking is rental in the building for $190 a month
• Bedroom #1: 11×15
• Bedroom #2: 11×13

This 2-bedroom house at 3536 N. Damen in the Roscoe Village neighborhood of North Center came on the market in June 2016.

The house is being marketed as a teardown so it’s being sold “as-is.”

It’s on a standard Chicago lot measuring 25×125.

There are other teardowns with new construction single family homes on this block of Damen.

The listing says this is zoned RS-3.

It’s in the Audubon school district.

Originally listed in June for $625,000 it has been reduced $30,000 to $595,000 but it still isn’t selling.

Are the sellers hitting a cap on land prices for this neighborhood?

Jayne Alofs at Berkshire Hathaway KoenigRubloff has the listing. See the listing here.

3536 N. Damen: 2 bedrooms, 1 bath

• Sold in December 1992 for $115,000
• Originally listed in June 2016 for $625,000
• Reduced
• Currently listed at $595,000
• Taxes of $9517
• Standard Chicago lot of 25×125

This top floor 2-bedroom at 1510 N. Dearborn Parkway in the Gold Coast just came on the market.

The building was constructed in 1900 and has 18 units and an elevator although it doesn’t look like any vintage features survived from the building’s origin.

It also has something else rare to the Gold Coast vintage buildings, and that is parking. This unit comes with 1-parking space although I can’t tell if it’s a garage or an outside space.

The unit has skylights throughout and two fireplaces including one in the master suite.

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

There’s a south facing private terrace off the kitchen with enough space for outdoor furniture.

The unit also has central air and washer/dryer in the unit.

Parking, central air, washer/dryer in the unit and a south city facing terrace, what else could a buyer ask for in this neighborhood?

Brad Lippitz at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #501: 2 bedrooms, 2.5 baths, 1900 square feet

• Sold in January 1996 for $585,000 (included parking)
• Sold in July 1998 for $659,000 (included parking)
• Sold in December 2013 for $685,000 (included parking)
• Currently listed for $819,000 (includes the parking)
• Assessments of $625 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $12,919
• Central Air
• Washer/Dryer in the unit
• 2 fireplaces
• Bedroom #1: 18×13
• Bedroom #2: 12×10
• Living room: 25×15
• Laundry room: 7×5

This 2-bedroom at 1122 W. Armitage in Lincoln Park just came on the market.

This building was constructed in 1995 and has 8 units.

It has an attached heated garage, which is rare for buildings in this area, many of which are vintage.

The Armitage corridor is popular due to the shops, restaurants and brown line El stop nearby.

This unit has two outdoor spaces, including a front and back terrace.

The kitchen has white cabinets, quartz counter tops, gray subway tiles and stainless steel appliances.

It also has an enormous master bedroom at 22×17.

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

At 1500 square feet, it is larger than your typical 1200 square foot 2/2.

Priced at $585,000, is this the new price point for generous 2/2s in central Lincoln Park?

Michael Kelly at Dream Town has the listing. See the pictures here.

Unit #202: 2 bedrooms, 2 baths, 1500 square feet

• Sold in December 1994 for $371,250
• Sold in April 1999 for $345,000
• Sold in December 2002 for $479,000
• Sold in August 2007 for $507,500
• Currently listed for $585,000
• Assessments of $359 a month (includes exterior maintenance, scavenger)
• Taxes of $8385
• Central Air
• Washer/Dryer in the unit
• Heated garage parking included
• Bedroom #1: 22×17
• Bedroom #2: 12×10

This 3-bedroom corner loft in the Folio Square Lofts at 124 W. Polk in the Printers Row neighborhood of the South Loop came on the market in April 2016.

It’s a top floor authentic loft with 14 foot concrete ceilings and south and east exposures.

A wall of industrial windows runs the entire length of the loft which also has exposed brick.

The kitchen has wood cabinets, granite counter tops and stainless steel appliances along with a wine refrigerator.

The master bedroom has an en suite bathroom.

At 2500 square feet, this unit was created by combining two smaller units.

It is big enough to have a family room and a dining room.

The loft has central air and washer/dryer in the unit but there’s no parking with the building. Parking is available to lease in the neighborhood.

This loft was recently reduced $25,000 to $575,000.

With the Riverline, a big riverfront development with 2700 units, soon to start construction just two blocks away which will include retail and restaurants, is now a good time to get into the neighborhood before prices get pushed even higher?

Could Printers Row be the next really hot neighborhood?

Heather Hillebrand at Dream Town has the listing. See the pictures here.

Unit #1004: 3 bedrooms, 2 baths, 2500 square feet

• Sold in May 2006 for $527,500
• Sold in June 2008 for $604,000
• Originally listed in April 2016 for $600,000
• Reduced
• Currently listed for $575,000
• Assessments of $1022 a month (includes security system, cable, exercise room, exterior maintenance, scavenger and snow removal)
• Taxes of $8674
• Central Air
• Washer/Dryer in the unit
• No parking- it is leased in the neighborhood
• Bedroom #1: 17×17
• Bedroom #2: 16×16
• Bedroom #3: 14×9

This 7-bedroom Queen Anne Victorian at 1904 W. Patterson in North Center has been on and off the market since April 2015.

Built in 1891 on a 62.5 x 125 corner fenced in lot, it has a large wrap around porch and a 3-car garage.

At 8,000 square feet, it has 7 bedrooms on both the second and third floors.

There’s a lower level exercise room and sauna as well as a game room.

It also has an interesting feature in the top floor turreted room: an “office/smoking room with ventilation system.”

The house has an eat-in kitchen with white cabinets, stainless steel appliances and stone counter tops.

It has central air and 3 fireplaces as well as extensive wood work and moldings.

Originally listed in April 2015 for $3,999,999, it has been reduced numerous times.

It was re-listed in May 2016 for $2.9 million and just recently reduced to $2.55 million.

Is this house now a deal for the lot size and square footage?

Julie Harron at Baird & Warner has the listing. See the pictures here.

1904 W. Patterson: 7 bedrooms, 8 baths, 8000 square feet, 3 car garage

• Sold in November 1998 for $650,000
• Originally listed in April 2015 for $3,999,999
• Reduced
• Was listed at $2.799 million in March 2016
• Withdrawn
• Re-listed in May 2016 for $2.9 million
• Reduced
• Currently listed at $2.55 million
• Taxes of $27835
• Central Air
• 3 fireplaces
• Bedroom #1: 20×16 (second floor)
• Bedroom #2: 21×16 (second floor)
• Bedroom #3: 14×13 (second floor)
• Bedroom #4: 12×12 (second floor)
• Bedroom #5: 17×16 (third floor)
• Bedroom #6: 13×12 (third floor)
• Bedroom #7: 11×10 (third floor)
• Turreted office/smoking room: 13×13 (third floor)
• Exercise room: 18×16 (lower level)