Crib Chatter

This 3-bedroom at 2650 N Lakeview in Lincoln Park came on the market in May 2023.

Built in 1973, 2650 N Lakeview has 300 units and attached valet garage parking.

It’s a full amenity building with door staff, 3 rooftop decks, 2 tennis courts, a gym, study/lounge, party room, and indoor pool.

This top floor condo is a southeast corner unit which the listing says is “rarely available.”

It has a “newly updated” bathroom and kitchen. The kitchen has been opened to the living and dining rooms and has white cabinets, stainless steel appliances and sleek-tile backsplash.

There’s a built-in buffett in the dining room.

The primary bedroom is en suite and has a walk-in closet.

This unit has the features that buyers look for including central air and the valet parking is $180 a month. It does not, however, have in-unit washer/dryer. The building has coin laundry.

The listing says this unit has “some of the best views in all of Chicago” with downtown city views, Lincoln Park and lake views.

It’s just several blocks to the shops and restaurants on Clark Street.

Listed at $849,000 for 1600 square feet, does the view close the deal?

Darrell Scott at Compass has the listing. See the pictures and floor plan here.

Unit #4110: 3 bedrooms, 2.5 baths, 1600 square feet

• Sold in August 1985 for $110,000
• Sold in February 1991 for $307,000
• Sold in July 1992 for $335,000
• Sold in March 1994 for $330,000
• Sold in June 2005 for $640,000
• Sold in July 2019 for $660,000
• Currently listed at $849,000
• Assessments of $1472 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet, party room)
• Taxes of $12,246
• Central Air
• No washer/dryer in the unit. Coin laundry in the building
• Valet garage parking available for $180 a month
• Bedroom #1: 17×13
• Bedroom #2: 13×11
• Bedroom #3: 13×11
• Living room: 22×19
• Dining room: 11×10
• Kitchen: 11×10

This large 1-bedroom in Trump Tower at 401 N. Wabash in River North came on the market in April 2023.

Built in 2008, Trump Tower has 486 condo residences on top of a hotel and restaurants along with an attached garage.

It’s a full amenity building with 24/7 door staff, a pool and an exercise room.

This unit is on the 83rd floor and has south and east views of the lake and city through floor to ceiling windows.

There are dark Brazilian wood floors throughout.

The listing says it has been custom painted and has custom window treatments.

The kitchen has Snaidero cherry cabinets, Meile, Wolf and Subzero appliances and Ubatuba granite countertops.

The unit has 1.5 baths with the primary bath in limestone with double sinks, a large soaking tub and separate glass shower.

The unit has features buyers look for including a new washer/dryer (2023), central air and deeded garage parking is included.

Trump Tower was originally thought to be in a “B” location in 2008 for luxury buyers, but then the River Walk was built which changed the area.

It’s near the Mag Mile, the water taxi, the shops and restaurants of River North and the River Walk.

Listed in early April 2023 at $1.2 million, it has been reduced to $1.15 million.

It last sold in January 2011 for $810,000.

Trump Tower struggled during the Trump presidency, but that ended 2+ years ago. Will this seller get the premium?

Jeanne Keating at @Properties Christie’s has the listing. See the pictures here.

Unit #83E: 1 bedroom, 1.5 baths, 1017 square feet

• Sold in June 2009 for $843,000
• Sold in January 2011 for $810,000
• Originally listed in April 2023 for $1.2 million
• Reduced
• Currently listed at $1.15 million
• Assessments of $1310 a month (includes central air, gas, doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal)
• Taxes of $17,776
• Central Air
• Washer/dryer in the unit
• Deeded garage parking included
• Bedroom: 15×14
• Living/dining room: 17×15
• Kitchen: 10×9
• Walk-in-closet: 15×5

It’s time for a break. Plenty is going on but some properties are selling so fast I don’t have time to crib on them. Downtown is still slower, though, which is why the blog is focusing on those neighborhoods right now.

Once the weather gets better, I’ll head out for some new pictures of new properties. But I haven’t been encouraged to go out into it lately. It’s too cold. Ha ha.

I’ll be at the beach. Play nice while I’m gone.

See you in May-

Sabrina

March sales were down again. But last March was the month the Fed first started raising rates in this cycle. Mortgage rates started sharply rising in March 2022. Those rates quickly cooled the housing market.

But is the slowdown playing out as we all thought?

From the Illinois Association of Realtors:

The city of Chicago saw a 24.8 percent year-over-year home sales decrease in March 2023 with 2,168 sales, down from 2,883 in March 2022.

The median price of a home in the city of Chicago in March 2023 was $334,000, down 3.2 percent compared to March 2022 when it was $345,000.

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 2,546 $295,000
2018 2,343 $310,500
2019 2,062 $290,700
2020 2,123 $319,950
2021 2,937 $345,000

2022 2,883 $345,000
2023 2,168 $334,000

Just a reminder that March 2022 was the third hottest March since 1997. So even though there’s a big drop year-over-year, 2023’s sales were still higher than recent years, including 2019 and 2020.

“While we continue to see a decline in closed sales that matches the decline in inventory, those who were on the fence during the hectic pandemic market are finding opportunities to enter the market with positive hope,” said Sarah Ware, president of the Chicago Association of REALTORS® and principal and designated managing broker for Ware Realty Group in Chicago.

In Chicago, single family home sales fell 15.3% to 811 while condo sales declined 29.5% to 1,357.

Statewide, inventory continued to decline, falling 16.2% to 17,379 properties from 20,735 last year.

In Chicago, inventory fell 23.3% to 4988 from 6506 last year. Days on the market rose 7.5% to 43 days from 40 days last year.

“This time of year, it is typical to see month-to-month increases in sales, and March 2023 was a great example of that in Illinois,” said Michael Gobber, Illinois REALTORS® 2023 President and designated managing broker-partner, Century 21 Affiliated in Westchester.

“Prices and sales increased last month in both Illinois and the Chicago PMSA,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate (SHDRE) at the University of Illinois at Chicago College of Business Administration. “Median prices are at approximately the same level as this time last year, although the number of sales is lower. Our forecast is for prices to appreciate through July, but at a lower rate than last year. We expect the number of sales to grow at a faster rate over the next quarter than last year’s rate.”

The 30-year fixed rate mortgage was 6.54% in March 2023 up from 6.26% in February. It’s also still elevated from March 2022 when it was 4.17%.

But it has now been a year since we’ve seen mortgage rates in the 3s.

While sales are down, they’re not out. What will it take to slow this market further?

Illinois March home sales and median prices fall, while average days on the market rise [Illinois Association of Realtors, Press Release, by Bill Kozar, Apr 20, 2023]

This 2-bedroom in The Donohue Annex at 727 S. Dearborn came on the market in April 2023.

The original portion of The Donohue was built in 1883 and it was the first printer building in the neighborhood. The Annex, at 727 S. Dearborn, was added in 1913.

It was one of the first loft buildings in Printers Row to be converted into housing. It became condominums in 1994.

There is no door staff or parking. But the building does have a fitness room.

The listing describes this loft as an “original artist loft” as it doesn’t seem to have many walls.

It has 13.5′ ceilings and tall, oversized newer industrial windows.

The loft has “some orginal hardwood and brick” throughout.

It’s still live/work.

At 3135 square feet, the listing says it has “endless potential” to be customized to suit a buyer’s needs.

The freight elevator opens directly into the loft with a passenger elevator nearby.

There are just 2 units per floor in the Annex. It’s also the concrete side of the building, as far as ceilings are concerned.

The kitchen has a green stove and dishwasher along with a stainless steel refrigerator and a breakfast bar that seats two.

The primary bedroom has a window and walls but the second bedroom does not appear to have a window.

If you look on the floor plan the loft has a unique area designated “painting storage.”

The unit has features buyers look for like central air and washer/dryer in the unit. The listing says there is radiator heat. There’s no parking with this building but rental and for sale parking spaces are available in the neighborhood.

This is a unique property. I couldn’t find an original sales price. I’m assuming this is the original owner that is selling.

The listing says it’s being sold “as-is.”

Listed for $650,000, will an artist of some kind take a chance on this space?

Jane Wenger at Wenger Properties has the listing. See the pictures and the floor plan here.

Or see it at the Open House on Saturday, Apr 22, from 11 am to 1 pm.

Unit #211: 2 bedrooms, 1 bath, loft, 3135 square feet

• I couldn’t find an original sale price
• Currently listed at $650,000
• Assessments of $2220 a month (includes heat, security, exercise room, exterior maintenance, scavenger, snow removal and Internet)
• Taxes of $13071
• Central Air
• Washer/dryer in the unit
• No Parking
• Bedroom #1: 12×17
• Bedroom #2: 10×26
• Foyer: 6×13
• Living room: 27×29
• Kitchen: 13×15
• Dining room: 14×12
• Bonus room: 16×28
• Bonus room #2: 14×27

This 2-bedroom in 2000 N. Lincoln Park West in East Lincoln Park came on the market in April 2023.

Built in 1931 by William Wrigley Jr, the building has 195 units. It was originally apartments until it was converted to condos during the housing boom in 2004-2005.

The building has full time door and maintenance staff, a roof top deck, exercise room, bike storage and a laundry room.

There’s no parking but the listing says it is available as a monthly valet across the street or on the street for free.

This unit is a southeast corner unit with views of Lincoln Park, the Lake and downtown.

The listing says it has elegance and character and “old world charm.” It still has some of its original vintage features like the original crown molding and parquet hardwood floors, which have recently been refinished.

It also has a foyer with the original inlay marble floor.

The living/dining room has the original decorative fireplace with built-in cabinets. It has arched doorways.

The kitchen has dark wood cabinets, what looks like green and black granite counter tops and backsplash and stainless steel appliances. There’s no island but there’s a built-in desk area.

The primary bedroom has a walk-in-closet and a linen/shoe closet. The second bedroom has a 2 closets.

All the windows have shades. There’s also a cedar closet.

You’ll get a bunch of amenities including on-site management, 7 days a week engineering/maintenance, a rooftop deck with 360 degree views, a gym, 2 biker rooms, laundry and 2 pets are allowed up to 50 lbs each.

This building has Starbucks and RJ Grunts, is near the shops and restaurants of East Lincoln Park and Old Town, and is directly across from Lincoln Park.

Listed at $459,000 for 1250 square feet, is this a deal?

Brenda Mauldin at Baird & Warner has the listing. See the pictures here.

Unit #902: 2 bedrooms, 2 baths, 1250 square feet

• Sold in April 2005 for $558,000
• Sold in April 2020 for $380,000
• Currently listed at $459,000
• Assessment of $988 a month includes heat, gas, doorman, cable, exercise room, exterior maintenance, lawn care, cable, exercise room, exterior, scavenger, snow removal, Internet
• Taxes of $7271
• Window units cooling
• No washer/dryer in the unit
• No parking
• Decorative fireplace
• Bedroom #1: 16×12
• Bedroom #2: 15×11
• Living/dining combo: 21×14
• Kitchen: 18×16
• Foyer: 4×4
• Walk-in-closet: 6×4

The New York Times reported on some recent Zillow data that has everyone all abuzz.

A new study by HouseFresh examined average daily search traffic for more than 108,000 active Zillow listings in the 100 largest U.S. metros as of Oct. 25, 2022. The company, which specializes in air purifiers, humidifiers and dehumidifiers, initially pulled the data for a proposed study comparing air quality and real estate preferences, but it was inconclusive. What remained was a list of neighborhoods ranked from most to least popular based on average daily visits to local listings. This week’s chart shows the 20 most popular on the list.

You can see the complete chart and NYT article here.

At #1 on the list was Northeast Dallas at 36,113 average daily views. #2 was the Hollywood Hills at 32,216.

But Chicago had one entry in the top 20 and it might not be the neighborhood you would have guessed.

#9 of the 20 most popular neighborhoods from the Zillow data was Lakeview at 20,465 average daily views.

This data was as of last year, as of Oct 25, 2022. That’s when the market was frozen, and little was selling. Yet plenty of people were looking at Lakeview real estate.

As the NYT article points out, some of the average daily views were likely not actual home buyers. Plenty of people like to look at real estate in various “fantasy” cities and locations. Hence, Hollywood Hills, which the NYT points out has a median home price of $2 million, is probably just a lot of people who are looking for fun.

La Jolla in San Diego is #4 on the list and the Upper East Side is #5. Both are extremely expensive and desirable neighborhoods. Are those dreamers and lotto players too?

But is the same true for Lakeview?

Are those Lakeview real estate watchers simply looking for fun, as we do here at Cribchatter, or are they future buyers?

Lakeview is getting more average daily views than even New York’s Upper West Side, which was 14th with 17,304 average daily views, and Miami’s Brickell neighborhood, coming in at 17th with 16,823 views.

Currently, the inventory remains near all-time lows in Lakeview. As of the evening of Apr 16, 2023, there were just 210 properties on the market.

There were also 243 properties under contract.

Yet, apparently, the neighborhood is getting over 20,000 daily average users looking at real estate. And that’s just from the Zillow app and doesn’t include Redfin.

Due to the low inventory, some properties are going under contract almost immediately. I’ve been hearing stories about multiple bids on many this spring.

I was going to crib on this 3-bedroom fee simple townhouse at 3522 N. Pine Grove. We have chattered about this complex before (it’s the picture above).

It was built in 1944 and has 16 units surrounding a central courtyard.

It came on the market at $425,000. It has just 1.5 baths and there’s no parking. You have to park on the street or rent nearby.

It went under contract within 2 days.

Is Lakeview simply too popular of a neighborhood to see prices fall in this cycle? And what does it say about Chicago that one of its neighborhoods made the top 20 even given the negative publicity during the last few years?

Mariah Dell at Compass has the listing. See the pictures here.

Unit B: 3 bedrooms, 1.5 baths, townhouse, no square footage listed

• Prior sale before 1987
• Sold in March 2019 for $370,000
• Listed in April 2023 for $425,000
• Contingent within 2 days
• Assessments of $83 a month (includes exterior maintenance, lawn care, scavenger)
• Taxes of $7575
• Central Air
• No parking
• Fee simple townhouse
• Bedroom #1: 12×15 (second floor)
• Bedroom #2: 10×10 (second floor)
• Bedroom #3: 9×10 (second floor)
• Living room: 15×21 (main floor)
• Dining room: 11×12 (main floor)
• Kitchen: 10×12 (main floor- has vinyl floors)
• Family room: 15×21 (basement)
• Laundry room: 18×12 (basement)

This 1-bedroom 2-story coach house at 1226 N. Dearborn Parkway in the Gold Coast came on the market in April 2023.

Built in 1901, this coach house is part of a 13 unit condo association which includes the building in front of it, as seen above, and several other coach houses surrounding a shared interior courtyard with landscaping and seating.

It does not have parking.

This coach house faces east into the courtyard and has a private entrance.

The listing says this property has had a 2018 renovation.

The first floor is the living room, the kitchen and a powder room.

The kitchen has white cabinets and some wood open shelving with Bosch, a Liebherr refrigerator/freezer and vented Bosch hood. It has black granite counter tops, Island Bar seating and a built-in pantry.

The second floor has the primary suite. It has vaulted ceilings and exposed brick and the listing says it has room for a work-from-home office.

There’s a Juliet balcony overlooking the courtyard.

It has an en suite full bath with subway tiles and a washer/dryer.

It does not have parking but it’s available to lease in the neighborhood. It also does not have central air, but it does have a window unit.

The listing says this coach house “lives like a private home.”

It is near the shops and restaurants of Division Street and Rush Street in the Gold Coast and close to all the options in Old Town.

The coach house last sold in 2018 for $395,000. Listed at $479,000, is this unit the perfect in-town?

Jeanine McShea and Erin McShea at @properties Christie’s have the listing. See the pictures and floor plan here.

Unit #C: 1 bedroom, 1.5 baths, 1100 square feet, coach house

• Sold in May 1997 for $123,500
• Sold in May 1998 for $184,000
• Sold in July 2015 for $330,000
• Sold in August 2018 for $395,000
• Currently listed at $479,000
• No central air- but window units
• No parking
• In-unit washer/dryer
• Bedroom: 18×17 (second floor)
• Living room: 17×11 (main level)
• Loft: 12×10 (second floor)
• Kitchen: 14×8 (main level)

This 2-bedroom duplex down at 838 W. Wrightwood in Lincoln Park came on the market in April 2023.

Built in 1894, this building has 15 units and outdoor parking behind the building.

This unit has some of its vintage features including custom millwork and exposed brick. It has two fireplaces including in the living room and in the lower level family room.

It has south facing windows and hardwood floors.

The kitchen is open to the living and dining rooms and has gray cabinets, a marble backsplash, quartz counter tops, stainless steel appliances and an island, with seating for two, with what looks like a wood counter top.

The listing says there is enough space for a dining table.

The primary bedroom is on the main level and has a walk-in-closet and renovated bathroom.

The second bedroom is in the lower level and doesn’t appear to have any windows. There’s also a family room, with built-in bookcases, and a laundry room along with a second full bath.

This unit has the features buyers look for including central air and “on site parking.”

It also has a large outdoor deck off the back of the unit.

This building is in central Lincoln Park near all the shops and restaurants of the neighborhood, near DePaul and near several subway stops and bus lines.

Listed at $599,000, will this sell quickly?

Sam Shaffer and Arlette Quinones at Chicago Properties Firm have the listing. See the pictures and floor plan here.

Unit #1: 2 bedrooms, 2 baths, 1500 square feet, duplex down

• Sold in October 1992 for $240,000
• Sold in March 1994 for $219,000
• Sold in June 2001 for $399,000
• Sold in April 2004 for $455,000
• Sold in October 2017 for $494,000
• Currently listed at $599,000
• Assessments of $336 a month (includes scavenger, snow removal)
• Taxes of $6569
• Central Air
• Washer/dryer in the unit
• 2 fireplaces
• On-site outdoor parking
• Bedroom #1: 13×18 (main level)
• Bedroom #2: 18×9 (lower level)
• Living/dining room: 18×18 (main level)
• Kitchen: 9×15 (main level)
• Family room: 27×17 (lower level)
• Laundry room: 15×6 (lower level)
• Walk-in-closet: 7×5 (main level)
• Deck: 22×8 (main level)

This 3-bedroom penthouse at 3606-08 N. Pine Grove in East Lakeview came on the market in April 2023.

I thought I had a picture of this building and looked through thousands of pictures last night, but, alas, I was wrong. However, I stumbled across these flowers I snapped 11 years ago, in April 2012, just as the plants were springing forth as they are now.

This courtyard building on Pine Grove was built in 1920 and has 54 units. It has no garage parking and there is a common laundry room.

The building is professionally managed and the listing says it spent $100,000 to tuckpoint in 2022 and the roof goes back to 2014. It also says there are no current or forthcoming special assessments. It is pet friendly. It does not have an elevator.

This unit is a “one-of-a-kind” unit in the building as it is a combination of 3 units: a 2 bedroom, 2 bath and 2 studios.

All three units were sold together in 2016 and the listing says it saw a renovation in 2019 including a complete gut rehab of the kitchen and 3 full baths.

This unit still has some of its original features including crown moldings, detailed carved moldings in the dining room, medallions, wall moldings and a wood burning fireplace in the living room, with a custom surround.

The second fireplace, with built in bookcases, in the third bedroom/sitting room, looks to be decorative.

Are those the original wood floors in the living/dining/foyer? They are unique in a checkerboard/diamond pattern (?).

The kitchen has gray (?) cabinets, custom professional appliances, an island with seating for 3, checkerboard floors, and a wine fridge which is open to the family room.

The primary suite has a walk-in-closet, an en suite bath, and a small office, which leads to the laundry room.

There are no pictures of the third bathroom in the listing but you can see a tidbit of it in the open door in the third bedroom/sitting room. On the floor plan it looks like it has the only bath tub in the unit.

This unit is also unusual in that it actually has private outdoor space in the form of a rooftop deck with city views.

It has space pac cooling but there’s no parking with the unit. Parking is available to rent in the neighborhood, but the Belmont el stop is just a few blocks away.

The listing says there is concrete between floors and there is a keyed storage unit.

This building is near Wrigley Field, the shops and restaurants of East Lakeview as well as the lake front.

It has come on the market at $825,000 for 2092 square feet.

Buyers love “new” properties. Will this one sell this week?

Leigh Marcus at @properties Christie’s has the listing. See the pictures and floor plan (it has one) here.

Unit 4KLM: 3 bedrooms, 3 baths, 2092 square feet, penthouse

• I can’t tell when the units were combined
• Sold as a combined unit in June 2017 for $610,000
• Currently listed at $825,000
• Assessments of $1050 a month (includes heat, gas, cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $7640
• Space pac cooling
• Washer/dryer in the unit
• No parking- rental in the neighborhood
• 1 wood burning fireplace
• Bedroom #1: 19×12
• Bedroom #2: 16×14
• Bedroom #3: 14×14
• Living room: 19×15
• Dining room: 16×11
• Kitchen: 15×15
• Family room: 15×12
• Office: 7×7
• Laundry room: 7×5
• Walk-in-closet: 15×5
• Foyer: 8×7
• Private rooftop deck