Crib Chatter

This corner 2-bedroom at 757 N. Orleans in River North came on the market in November 2023.

757 N. Orleans was built in 2008 and has 198 units and an attached parking garage.

It’s a full amenity building with 24-hour door staff, a fitness center, outdoor pool, business center, bike room, Amazon package room, Tide-cleaners lockers and dog run.

This is a south facing corner unit with floor-to-ceiling windows.

It has wide plank ceramic floors throughout.

The kitchen is “modern” with maples cabinets, an eat-in breakfast bar, black granite countertops and stainless steel appliances.

The primary suite has a custom walk-in closet and is en suite with a double vanity and soaking tub.

It has the features buyers look for including central air, an in-unit 2023 Intelligence graphite LG washer/dryer and TWO large heated garage spaces, one with electric outlet access.

There are also two storage lockers included and it has 2 nest thermostats and custom roller shades.

But the biggest selling feature has to be the two outdoor spaces, one of which is a “massive” 455 square foot “garden-in-the-sky” private terrace.

This unit also has direct access to the outdoor pool and sundeck.

This building is near the shops and restaurants of River North, the new Whole Foods and it sits right next to the brown/purple El stop at Chicago.

Listed in November 2023 at $575,000, it has been reduced $5,000 to $570,000.

It last sold in September 2021 for $550,000.

Is this a deal for a terrace unit with two parking spaces in this neighborhood?

Thomas Bezanes at Compass has the listing. See the pictures here (sorry, no floor plan).

Unit #612: 2 bedrooms, 2 baths, 1248 square feet

• Sold in November 2008 for $432,500
• Sold in March 2013 for $422,000
• Sold in September 2021 for $550,000
• Originally listed in November 2023 for $575,000
• Reduced
• Currently listed at $570,000
• Assessments of $649 a month (includes heat, a/c, gas, doorman, cable, clubhouse, exercise room, pool, exterior maintenance, snow removal, Internet)
• Taxes of $8552
• Central Air
• Washer/dryer in the unit
• 2 car garage parking included
• Bedroom #1: 12×19
• Bedroom #2: 11×14
• Living room: 18×17
• Kitchen: 10×11
• Terrace: 15×30
• 2nd small terrace

This 1-bedroom loft at 11 N. Green in the West Loop came on the market in December 2023. (Sorry, it appears I don’t have a picture of this building.)

I’m not sure when this building was built, but it was converted into 11 loft condos in 1995. It has attached garage parking.

There’s no door staff or other amenities.

This is a top floor loft with exposed brick and what looks like timber and metal ceilings. It has exposed ductwork and tall ceilings.

There is a wood burning fireplace in the living/dining room and hardwood floors throughout the main floor.

The kitchen has white cabinets and appliances and an island with a stove top.

The bedroom does not appear to have full walls but it does have some natural light (bubble glass window?).

There’s a spiral staircase to the rooftop where there is a “personal rooftop oasis” where you could host “soirees under the stars.”

It has all the features that buyers look for including washer/dryer in the unit, “new” heat and central air and one deeded garage space is included.

The loft even has a large storage room.

This building is near the shops and restaurants of the West Loop including Greektown and Randolph Street and is near the Whole Foods and Mariano’s.

This loft last sold in 1996 for $174,500. It is listed at $525,000.

Will the popular West Loop location make the sale?

Allison McGowan at @properties Christie’s has the listing. see the pictures and floor plan here.

Unit #4C: 1 bedroom, 1 bath, 1200 square feet, loft

• Sold in January 1996 for $174,500
• Currently listed at $525,000
• Assessments of $361 a month (includes Internet, snow removal, exterior maintenance, security, scavenger)
• Taxes of $8953
• Central Air
• Washer/dryer in the unit
• Deeded garage parking included
• Wood burning fireplace
• Bedroom: 11×15
• Living/dining room: 16×32
• Kitchen: 7×10
• Laundry room: 6×6
• Rooftop Terrace: 18×20 (second floor)
• Separate storage room: 15×20

This 3-bedroom cottage at 1338 W. Grace in Lakeview’s Southport corridor came on the market in December 2023.

Built in 1891, the house is on a smaller than standard lot measuring 58×40. It has no back alley but instead, has a side driveway which is accessed from the street.

If this house looks familiar, that’s because we last chattered about it last year, in November 2022 and, prior to that, in February 2020, just as the coronavirus pandemic was about to hit.

Back in 2020, the house came on the market in February and was under contract within just 5 days.

See our 2020 chatter here.

In 2022, it came on the market when rates were around 7%. It did not sell and was withdrawn from the market just one month later, in December 2022.

See our 2022 chatter here.

This house has hardwood floors on both the first and second floors.

The first floor has the kitchen, the living and dining rooms, a family room and a full bathroom.

If you recall, the kitchen has wood cabinets, white quartz counter tops, a breakfast bar, a white subway tile backsplash and stainless steel appliances.

There’s an enclosed porch off the kitchen that can be used as a mudroom.

The family room has a wood burning fireplace.

All three bedrooms are on the second floor along with one full bath.

The primary suite has a walk-in-closet and the front guest bath has a closet which has been converted into a work-from-home space with a desk.

The house has an unfinished basement with the “possibility” to add another full bathroom. There are architectural and engineering plans already drawn up and are “happy to be shared.”

The house has central air.

The listing also says a carport, or similar structure, could be added by the next owner. There are 3 off-street parking spaces available. In the 2020 listing, it said that you could make as much as $3,000 from renting out the spaces for Cubs games. In this new listing it says “earn some bonus cash renting any of your three parking spots for 80+ Wrigley events a year.”

The house is in the Blaine school system, which is just down the street.

It’s near all the shops and restaurants (Dairy Queen) of Southport and is just a few blocks from Wrigley Field.

The house is now listed at $899,000, which is $20,000 more than last year when it was listed at $879,000.

The inventory in Southport is extremely low. There are no other single family homes priced under $1 million in the neighborhood.

You CAN get a new construction 3-bedroom condo just a few blocks away on Byron, which is the same 2300 square feet.

1511 W. Byron is on the market for $1,099,500. You can see that listing here.

Rates are still over 7% one year later but inventory is even lower.

Will this sell quickly this month?

Brad Zibung at Compass has the listing again. See the pictures and floor plan here.

Or see it at the Open House this weekend on Saturday, December 9, from 1 to 2 PM.

1338 W. Grace: 3 bedrooms, 2 baths, 2300 square feet, single family home

• Sold in April 1993 for $206,500
• Sold in September 2001 for $547,000
• Sold in August 2016 for $630,000
• Was listed on Feb 19, 2020 for $825,000
• Under contract on Feb 24, 2020
• Sold in March 2020 for $795,000
• Was listed in November 2022 at $879,000
• Withdrawn in December 2022
• Currently listed at $899,000
• Taxes are now $12,254 (they were $13,492 last year and $12,992 in February 2020)
• 3-car driveway (no garage)
• Central Air
• Wood burning fireplace
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 17×11 (second floor)
• Bedroom #3: 15×12 (second floor)
• Den: 12×11 (main floor)
• Living room: 14×13 (main floor)
• Dining room: 16×14 (main floor)
• Kitchen: 13×11 (main floor)
• Family room: 26×13 (basement)
• Storage: 10×6 (basement)
• Walk-in-closet: 9×8 (second floor)
• Mudroom: 12×6 (main floor)

This 2-bedroom townhouse at 205 W. Eugenie in the Old Town neighborhood in Lincoln Park came on the market in July 2023.

Built in 1978, the complex has 10 units and exterior parking. It’s only amenity appears to be bike storage.

The listing says this is an “updated” townhouse with “modernized” floors and “renovated” bathrooms.

There’s a private entrance off the courtyard.

It has a three story spiral staircase.

The first floor has the living and dining room along with the kitchen and a half bath.

There’s a wood burning fireplace in the living room which the listing says encapsulates “coziness at its finest.”

It also appears like there are exposed brick walls in the living/dining room.

The contemporary kitchen has white and gray cabinets, stone countertops, a breakfast bar with seating for two, a subway tile backsplash and stainless steel appliances.

The second floor has two bedrooms and a full bathroom.

The third floor has a bonus space which can be a third bedroom, den or office. There’s also a half bath which the listing says is a “potential full bathroom expansion.”

This townhouse has two outdoor spaces: a terrace on the main floor and one on the third floor, off the bonus room.

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

This townhouse is located in the heart of Old Town’s shopping and restaurant district, on the corner of Wells and Eugenie. It’s near Lincoln Park, the zoo, and various bus routes.

The listing says its in the Lincoln Elementary school district.

Listed in July 2023 for $645,000, it has been reduced $5,000 to $640,000.

What will it take to get this sold in 2023?

Maureen Burns at @properties Christie’s has the listing. See the pictures and floor plan here.

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

• Sold in March 1992 for $202,000
• Sold in March 2001 for $400,000
• Sold in April 2005 for $415,000
• Sold in June 2008 for $487,500
• Sold in February 2014 for $511,000
• Sold in October 2017 for $585,000
• Originally listed in July 2023 for $645,000
• Reduced
• Currently listed at $640,000
• Assessments of $397 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $11,207
• Central Air
• Washer/dryer in the townhouse
• Exterior parking included
• Wood burning fireplace
• Bedroom #1: 15×11 (second floor)
• Bedroom #2: 15×11 (second floor)
• Living/dining room: 21×17 (main floor)
• Kitchen: 11×10 (main floor)
• Bonus room: 17×12 (third floor)
• 2 terraces

This 2-bedroom in The Montgomery at 500 W. Superior in River North came on the market in March 2023.

Built in 1972, The Montgomery was originally part of the Montgomery Ward complex and served as its headquarters.  It’s architect was Minoru Yamasaki, who also designed the World Trade Center in New York City. He designed both around the same time.

It has 250 units and attached parking. It was converted into condos in 2005. The building has a party room, a sundeck, an exercise room, an on-site manager/engineer and door staff.

This 2-bedroom is one of the rare units which actually has a balcony, which faces south.

It has hardwood floors throughout, including the bedrooms.

The kitchen is open to the living and dining room combo and has white cabinets, stone counter tops, stainless steel appliances and an island with a raised ledge for barstools.

There’s a separate home office which is next to the living room and may not have any windows (?).

The primary bedroom will accommodate a king bed and has an en suite bathroom which has a dual vanity and walk-in-shower.

The second bedroom also has its own full bath.

The unit has a half bath as well.

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

This building is near the shops and restaurants of the western part of River North and is on a bus line that will take you to the Mag Mile and Brown, Red and Purple subway stops.

Listed in March 2023 for $560,000, while owned by a relocation company, it has been reduced to $450,000.

That price is $25,000 below the 2011 sales price of $475,000.

Is this a deal?

Daniel Carr at Century 21 Circle has the listing. See the pictures here (sorry, no floor plan).

Unit #801: 2 bedrooms, 2.5 baths, 1309 square feet

• Sold in May 2005 for $417,000
• Sold in March 2011 for $475,000
• Sold in June 2018 for $580,000
• Sold in March 2023 for $527,500 (to relocation company)
• Originally listed in March 2023 for $560,000
• Reduced numerous times
• Currently listed at $450,000 (includes the garage parking)
• Assessments of $1305 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, party room)
• Taxes of $11,622
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×12
• Bedroom #2: 11×11
• Living/dining combo: 23×14
• Kitchen: 12×10
• Office: 7×9
• Laundry: 3×11
• Balcony: 15×4

This 3-bedroom duplex up penthouse in 111 S. Morgan in the West Loop originally came on the market this year in January 2023.

111 S. Morgan was built in 2002-2003 and has 161 units and attached garage parking.

It has door staff.

The listing says this penthouse is still owned by the “original owner.”

It has tall ceilings on both floors and loft-like features including concrete ceilings on the main floor and exposed ductwork as well as columns.

It has the living, dining room, kitchen, 2 bedrooms, an extra den/office along with 2 bathroom on the main floor and the primary suite on the second floor.

The living/dining and kitchen has white porcelain tile floors.

The “gourmet” kitchen has white cabinets, an island, what looks like granite counter tops and stainless steel appliances.

One of the bedrooms on the main floor has an en suite bathroom and its own private terrace.

The listing indicates that the bedrooms have vinyl flooring.

The primary suite has a “spa-inspired bathroom” and custom closets. It also has two big terraces with city and skyline views.

The fourth terrace is off the living room and den.

It has the features that buyers look for including central air, washer/dryer in the unit and 2 premium garage parking spots.

This building is centrally located in the West Loop, near stores and restaurants including Randolph Street and Greek Town.

Listed in January 2023 at $1.4 million, it has been reduced $300,000 to $1.1 million.

Will this penthouse sell at this new price?

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

Unit #906: 3 bedrooms, 3 baths, 2650 square feet, duplex-up penthouse

• Sold in May 2004 for $750,000 (per Zillow)
• Originally listed in January 2023 for $1.4 million
• Reduced
• Withdrawn in July 2023
• Re-listed in November 2023 for $1.1 million (includes 2 premium garage parking spaces)
• Assessments of $1445 a month (includes doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $21,740
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 17×18 (second floor)
• Bedroom #2: 17×12 (main floor)
• Bedroom #3: 16×12 (main floor)
• Living room: 22×26 (main floor)
• Dining room: 29×8 (main floor)
• Kitchen: 22×10 (main floor)
• Room/den: ?
• 4 private terraces (two on the main level and two on the second floor)

This 3-bedroom penthouse in the Library Tower at 520 S State in the South Loop came on the market in July 2023.

Library Tower was built at the end of the housing bubble, completed in 2008. It has 184 units and attached garage parking.

It gets its name because it’s across the street from the Harold Washington Library. This building has 24-hour door staff, a business center, fitness room, dry cleaners, theater, hospitality suite and roof deck.

This unit is a southeast corner penthouse unit with floor-to-ceiling windows and 10 foot ceilings.

It has hardwood floors in the main living/dining and kitchen areas with “new” carpet in the bedrooms.

There’s a gas fireplace in the living room.

The kitchen is open to the living/dining room and has wood cabinets, stone countertops, with a breakfast bar and stainless steel appliances.

There’s a big 35×10 south facing terrace off the kitchen and the primary suite.

The primary suite has an en suite bathroom with dual vanity, soaking tub, and shower.

The unit has a dedicated laundry room with a side-by-side washer/dryer.

It also has the other features buyers look for, including central air and an oversized garage parking space for $35,000 extra.

This building is near the shops and restaurants of Printers Row, the Loop and South Michigan Avenue. Grant Park is nearby.

Listed in July 2023 for $699,000, the unit is still listed at $699,000.

It last sold in 2009 for $697,000.

Will this penthouse find a buyer in 2023?

Tyler Stallings at Corcoran Urban Real Estate has the listing. See the pictures and floor plan here.

Unit #1618: 3 bedrooms, 2.5 baths, 2030 square feet, penthouse

• Sold in January 2009 for $697,000
• Originally listed in July 2023 for $699,000
• Currently still listed at $699,000 (plus $35,000 for garage parking)
• Assessments of $1164 a month (includes doorman, exercise room, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $12,388
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 18×13
• Bedroom #2: 17×12
• Bedroom #3: 12×12
• Living/dining room: 22×19
• Kitchen: 16×10
• Laundry room: 9×8
• Foyer: 12×10

This 3-bedroom duplex down at 1205 W. Montana in Lincoln Park came on the market in September 2023.

Built in 2016 by Devise, 1205 W. Montana has 4 units and attached garage parking.

There are no amenities with the building.

This unit has an extra wide footprint with floor to ceiling glass windows.

The main floor has the living/dining rooms and kitchen along with a powder room.

The living room has a fireplace with custom, full slab, stone detail.

There’s a separate dining room.

The kitchen is “chef grade” with custom Italian wood cabinetry, premium appliances package, stone counters, and a waterfall stone island with waterfall edge which seats 4.

The lower level has the three bedrooms and two full bathrooms.

The primary suite has 2 closets and a spa bath with double vanity, soaking tub, walk-in steam shower with a frameless door and heated floors.

There’s a wraparound terrace on the main floor that overlooks the tree tops.

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

This property is near the DePaul campus, and the shops and restaurants of central Lincoln Park, including on Fullerton, as well as the Red/Brown line el stop nearby at Fullerton.

Listed in September 2023 at $1.1 million, it has been reduced to $1.05 million.

Are duplex down condos still the affordable alternative to single family homes in Lincoln Park?

Debra Dobbs at Compass has the listing. See the pictures and floor plan here.

Unit #1E: 3 bedrooms, 2.5 baths, no square footage listed, duplex down

• Sold in September 2016 for $1.02 million
• Originally listed in September 2023 for $1.1 million
• Reduced
• Currently listed at $1.05 million
• Assessments of $307 a month (includes exterior maintenance, scavenger)
• Taxes of $11,395
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Fireplace
• Bedroom #1: 14×16 (lower level)
• Bedroom #2: 14×11 (lower level)
• Bedroom #3: 12×12 (lower level)
• Living room: 25×14 (main floor)
• Kitchen: 14×12 (main floor)
• Dining room: 16×12 (main floor)
• Laundry: 6×4 (lower level)
• Walk-in-closet: 11×5 (lower level)
• Walk-in-closet: 10×5 (lower level)
• Pantry: 3×5 (main level)
• Deck: 24×6 (main level)
• Deck: 6×17 (main level)

Anyone who is out looking to buy a home in the Chicagoland area knows just how low the inventory is.

Meanwhile, prices continue to hold up even as sales declined again year-over-year in October. It was the lowest October for sales since 2011, which was during the housing bust.

From the Illinois Association of Realtors:

The city of Chicago saw a 7.5 percent year-over-year home sales decrease in October 2023 with 1,610 sales, down from 1,740 in October 2022.

The median price of a home in the city of Chicago in October 2023 was $320,000, the same as in October 2022 when it was $320,000.

Thanks to G for all the data on October sales going back to 1997:

October Chicago sfh/condo/th sales and median

• 1997 1,731 $129,900
• 1998 1,855 $138,000
• 1999 1,978 $159,500
• 2000 2,106 $174,710
• 2001 2,177 $200,000
• 2002 2,503 $215,000
• 2003 2,996 $236,000
• 2004 2,651 $241,000
• 2005 2,846 $268,500
• 2006 2,630 $278,000
• 2007 2,007 $285,000
• 2008 1,564 $261,000
• 2009 2,068 $215,000
• 2010 1,225 $183,000
• 2011 1,324 $162,000 (44% short/REO sales)
• 2012 2,009 $175,000
• 2013: 2,231 $218,500
• 2014: 2,128 $236,000
• 2015: 2,173 $240,000
• 2016: 2,046 $260,100
• 2017: 2,109 $260,000
• 2018: 2,108 $271,500
• 2019: 2,084 $275,000
• 2020: 2,568 $315,000
• 2021: 2,469 $313,000
• 2022: 1,740 $320,000
• 2023: 1,610 $320,000

“In October, median sales price remained steady and market time nominally decreased,” said Drussy Hernandez, president of the Chicago Association of REALTORS® and vice president of brokerage services for Coldwell Banker Realty in Chicago. “This shows that, at the core of our market, there is a steady stream of people who need to buy and sellers who are motivated to sell. Inventory shortages continue to be one of the biggest challenges for buyers in the market.”

Statewide inventory plunged 25.5% to 21,287 from 28,564. By comparison, statewide inventory was 31,445 in October 2021.

In Chicago, inventory looked similarly challenged. Inventory fell 24% year-over-year to 5785 from 7609. It was at 8898 in October 2021.

Days on the market, in Chicago, fell 2 days to 32 from 34 last year and 35 days in 2021.

In Chicago sales, single family homes were down 4.4% to 695 while condos fell 9.7% to 915.

The average 30 year fixed rate mortgage was 7.62% up from 7.2% in September. Last year, in October 2022, the average was 6.9% and we all thought that was high.

“The number of sales continues to decline throughout Illinois while prices continue to increase,” said Dr. Daniel McMillen, professor of real estate and associate dean for faculty affairs at the University of Illinois Chicago College of Business Administration. “Our forecasts indicate that these trends will continue over the next three months throughout the state.”

Are high mortgage rates the problem in the Chicago housing market or is it the lack of inventory?

October home sales and inventory continue to fall in Illinois [Illinois Association of Realtors, Press Release, by Bill Kozar, November 21, 2023]

This vintage 2-bedroom at 1500 N. LaSalle in Old Town came on the market in September 2023.

1500 N. LaSalle was designed by Edmund Krause (1859-1935) in 1892. He designed 61 buildings in his lifetime. He specialized in mid-rise apartment buildings such as this one and also designed The Commodore at Surf and Broadway in Lakeview.

Krause’s best known building is the Majestic Building at 22 W. Monroe in the Loop, better known as the Schubert Theater.

This building has 24-units with an elevator and a shared rooftop deck with city views.

It also has a daily on-site maintenance engineer, a bike room and storage lockers. There’s no parking lot with the building (although I do recall the possibility that there is one single parking space.)

This unit was recently featured in the New York Times in the “What You Get” column. Thanks to chichow for bringing it to my attention. In this case, What You Get featured 3 properties for $500,000: one in Massachusetts, one in Illinois and one in Virginia.

You can read the column here.

The vintage features do not remain with this unit, although it has high ceilings and a gas fireplace.

There are dark hardwood floors in the main living space. Many of those commenting in the NYT’s comment section on this article said they thought the hardwoods had been “painted” as they appear black in the pictures. Have they?

The kitchen has white cabinets, stainless steel appliances and what looks like black granite counter tops. There’s also a silver tile backsplash.

There’s a pass through in the kitchen that overlooks the separate dining room.

The unit also has a separate den, or “flex” space, that does not have a door and which could be used as an office.

The primary bedroom has an en suite bath with a walk-in-shower.

There’s no private outdoor space with the unit.

It does have some of the features that buyers look for including central air and washer/dryer in the unit. But there’s no parking although it’s available to rent in the neighborhood.

The New York Times gives this description of its location:

Walking to Chicago History Museum or the well-known Second City comedy club takes about five minutes. Oak Street Beach, on the banks of Lake Michigan, is about a five-minute drive; North Avenue Beach is 10 minutes away. Driving to Wrigley Field takes about 15 minutes. Chicago O’Hare International Airport is a half-hour drive.

Listed in September 2023 for $574,900, it has been reduced to $545,000.

The comments in the NY Times  (which I highly recommend checking out) seemed to be fairly bullish on Chicago. There were some complaints about the floor color and the backsplash, however. Some were surprised at how much you got for the price.

And, as usual, there was a lot of criticism (any chatterati posting comments over there??? Lol)

At $545,000, is this a deal for the location and square footage?

Giovanni Leopaldi at Compass has the listing. See the pictures and floor plan here.

Unit #4B: 2 bedrooms, 2 baths, 1500 square feet

• Sold in April 1996 for $165,000
• Sold in February 1999 for $247,000
• Sold in November 2006 for $370,000
• Sold in March 2011 for $355,000
• Sold in August 2014 for $436,000
• Sold in September 2015 for $440,000 (relocation sale?)
• Sold in November 2015 for $440,000
• Originally listed in September 2023 for $574,900
• Reduced
• Currently listed at $545,000
• Assessments of $584 a month (includes exterior maintenance, sun deck, elevator, bike room, scavenger)
• Taxes of $8847
• Central Air
• Washer/dryer in the unit
• No parking
• Gas fireplace
• Bedroom #1: 14×12
• Bedroom #2: 12×10
• Living room: 13×13
• Dining room: 18×13
• Kitchen: 14×10
• Den: 13×12