Crib Chatter

This 2-bedroom at 651 W. Buckingham Place in East Lakeview just came on the market.

Built in 1900, the building has 6 units.

At 1400 square feet, it has many features that vintage lovers look for including a separate dining room with a coffered ceiling and original hutch as well as other restored woodwork and trim.

The listing says the kitchen has been remodeled. It has modern white and wood cabinets, quartz counter tops and stainless steel appliances.

One of the baths is remodeled with marble flooring. It is rare vintage that isn’t just a 2/1 but instead has an extra half bath.

The unit has both front and back private patios.

While it has in-unit washer/dryer, there’s no central air.

Outdoor parking is included in the price.

Listed at $375,000, is this condo a deal for the square footage and amenities in this location?

Morgan Sage at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #2E: 2 bedrooms, 1.5 baths, 1400 square feet

• Sold in April 1991 for $156,000
• Sold in September 1998 for $199,000
• Sold in December 2000 for $254,000
• Sold in July 2004 for $290,000
• Sold in September 2008 for $350,000
• Currently listed at $375,000
• Assessments of $281 a month (includes heat and snow removal)
• Taxes of $5179
• Washer/Dryer in the unit
• No central air
• Outdoor parking included
• Gas fireplace
• Bedroom #1: 13×13
• Bedroom #2: 13×11

This top floor 2-bedroom at 1024 W. Armitage in Lincoln Park just came on the market.

The building was built in 1890 and has 5 units.

This unit has south and west exposures from 17 windows.

The listing says it had a total kitchen renovation in 2013 with Carrera marble counter tops, white cabinets, a farmhouse sink, a thermodor wine column and Subzero, Wolf and Bosch appliances.

It has a private rooftop deck with surround sound and city views.

The unit has exposed brick walls and a wood burning fireplace.

Even though it’s vintage, it has the features buyers look for today including canned ceiling lights, central air, washer/dryer in the unit and garage parking.

It is surrounded by restaurants and stores on Armitage and just a few steps from the Armitage El stop.

Is this the property that vintage lovers dream about?

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

Unit #4: 2 bedrooms, 2 baths, no square footage listed

• Sold in April 2000 for $390,000
• Sold in January 2005 for $527,000
• Sold in July 2010 for $605,000
• Currently listed for $779,000 (includes garage parking)
• Assessments of $396 a month (includes exterior maintenance, scavenger)
• Taxes of $10,452
• Central Air
• Washer/Dryer in the unit
• Wood burning fireplace
• Private rooftop deck
• Bedroom #1: 17×14
• Bedroom #2: 14×11

This 2-bedroom duplex at 866 S. Park Terrace in the South Loop came on the market in July 2015.

This complex was built in 1980 and has 144 units with parking.

This unit has a private brick patio which faces west.

There are hardwood floors on the first floor and carpet in the second floor bedrooms.

The unit has a skylight.

The kitchen has stainless steel appliances and stone counter tops.

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

I don’t know if this is really a townhouse or a hybrid of some sort as the complex is just 2-stories.

Is it hard for these older townhouse-style complexes to compete with newer construction or will its location, which is a block south of Printers Row, make the sale?

Urai Chiya at @Properties has the listing. See the pictures here.

Unit #712: 2 bedrooms, 2 baths, no square footage listed, duplex

• Sold in July 1990 for $149,000
• Sold in September 1996 for $149,000
• Sold in September 2008 for $350,000
• Originally listed in July 2015 for $425,000
• Currently still listed at $425,000
• Assessments of $364 a month (includes parking, water, cable, exterior maintenance and snow removal)
• Taxes of $4356
• Central Air
• Washer/Dryer in the unit
• Parking space included
• Bedroom #1: 15×11 (second floor)
• Bedroom #2: 15×11 (second floor)

This 3-bedroom single family home at 3352 N. Marshfield in Lakeview came on the market in July 2015.

But we know it from the last time it was listed in 2011. Back then, it was listed at $499,000 and some of you thought it would ultimately sell for $375,000. See our 2011 chatter here.

But it never sold.

If you recall, the house has a loft like first floor with a full bath.

The second story was added 19 years ago and that’s where all 3 bedrooms are located along with a full bath.

There are 2 skylights.

Built on a 71×25×58 lot, it has a 1-car attached garage and central air.

Last time we chattered about it, there was an older home next door. This time, that house has been torn down and a construction fence surrounds the lot.

In 2011, this house was listed for as high as $499,000 but never sold.

It’s now listed at $475,000 but the market is much hotter and prices have gone up in the last 4 years.

Will they get the higher price this time around?

Madeleine Pearl at Axiom Associates has the listing. See the pictures here.

3352 N. Marshfield: 3 bedrooms, 2 baths, listing now says square footage is 2200 but in 2011 it was 1927 square feet, 1 car garage

• Sold in May 1992 for $98,500
• Was listed in March 2011 for $499,900
• Reduced
• Was listed in December 2011 at $449,900
• Withdrawn
• Was listed in July 2015 for $475,000
• Currently still listed at $475,000
• Taxes now $8612 (they were $7861 in 2011)
• Central Air
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 13×10 (second floor)
• Bedroom #3: 10×8 (second floor)

This 4-bedroom corner unit at 65 E. Monroe in the Millennium Park area of the Loop came on the market in February 2015.

It is a southeast corner unit with views of just about everything, including the south Grant Park skyline, the north Millennium Park skyline and the Lake, including Buckingham Fountain.

The building has a lap pool, a gym and a shared terrace.

It has 10 foot floor to ceiling windows.

The kitchen has dark wood cabinets, granite counter tops, stainless steel appliances and also includes a wine refrigerator.

3 of the bedrooms have lake views.

It also has a media room and an office.

Parking is available for $50,000 extra.

This unit has reduced $200,000 since February to $3 million.

With 4-bedrooms, is this unit targeting family buyers?

Philip Skowron at @Properties has the listing. See the pictures here.

Unit #4101: 4 bedrooms, 3.5 baths, 4000 square feet

• I’m not sure this has ever sold before but Redfin says it sold in January 2014 for $2,391,500.
• Originally listed in February 2015 for $3.2 million
• Reduced
• Currently listed at $3 million
• Assessments of $2156 a month (includes a/c, gas, doorman, cable, exercise room, pool, exterior)
• Taxes aren’t listed
• Central Air
• Washer/Dryer in the unit
• Parking for $50,000 extra
• Bedroom #1: 19×14
• Bedroom #2: 17×12
• Bedroom #3: 17×12
• Bedroom #4: 17×12

We’ve chattered about how quickly some properties are selling in 2015.

The data is confirming it. For condos in the GreenZone, the market times are the fastest they have been since the frenzied days of the housing boom in 2007.

From Crain’s:

In June, condos in the city sold in an average of 61 days, the fastest since at least January 2007, the earliest date available from Midwest Real Estate Data.

“It’s just as frenzied as it was at the height of the market” during the run-up to housing’s 2006 peak, said Julie Tag, an @properties agent in Winnetka, “but the difference is that people aren’t losing their heads and overpaying.”

To wit: Though single-family homes are selling at 86 days, unchanged from a year ago, their prices have risen more than condo prices. The median sale price of a city single-family home in June was $225,000, an increase of 8.9 percent from a year earlier, according to MRED, while for city condos the June median was $323,000, up 4.2 percent from June 2014.

Sellers who see their condos go swiftly are the ones who “don’t ask for inflated prices,” Tag said, or if they do, the property sits unsold.

Meanwhile, a condo on the third floor of a building on Monroe Street in the West Loop went under contract the first day in June that it was on the market, trumping the unit one flight up, which took three days to go under contract in May.

‘IT CAN BE CRAZY’

In River North, a ninth-floor unit on Huron Street was under contract after four days on the market. A three-bedroom condo on Damen Avenue in the Hamlin Park section of Lakeview went under contract in eight days.

“You’re seeing immediate sales, no waiting,” said Myrna Greenspan, the Lincoln Park @properties agent who listed both Monroe Street condominiums. “It can be crazy.” In May, the fourth-floor unit attracted six offers in its first 24 hours on the market, she said, and sold for $593,500, on an ask of $599,000. In June, the third-floor unit sold to the first lookers on the first day, at full price, $555,000.

Yet as hot as it is, buyers are also picky and expect move-in ready properties. If you have flowered wallpaper, you might want to consider painting before you list.

But given the quick market times, and lack of inventory, if you are selling a property and it doesn’t go under contract in, say, 2 weeks, is it because you are overpriced?

Condos are selling super fast this summer [Crain’s Chicago Business, Dennis Rodkin, August 13, 2015]

This 1-bedroom at 1717 S. Prairie in the South Loop recently came on the market.

It is a large 1-bedroom with 1052 square feet and a 10×10 den.

The unit also has the preferred 1.5 baths instead of just 1 bath.

The kitchen has granite counter tops, stainless steel appliances and maple cabinets. It is also a rare high rise layout where there is a window in the kitchen.

The master bedroom has a double sink and a separate shower.

The unit faces north and has views of Soldier Field, partial lake views and views of the Millennium Park skyline.

It also has all the features that buyers look for including central air, washer/dryer in the unit and garage parking is available for $30,000.

There is another unit with this floor plan also currently on the market but on the 20th floor.  It is listed at $299,900 plus $35,000 for the parking. Similar finishes. It went under contract in just 6 days.

Is this unit a deal for the square footage and the views?

Matt Laricy at Americorp has the listing. See the pictures here.

Unit #1604: 1 bedroom, 1.5 baths, 1052 square feet

• Sold in January 2004 for $346,000 (included the parking)
• Bank owned in June 2010
• Sold in August 2011 for $159,000 (included the parking)
• Currently listed for $285,000 (plus $30,000 for the parking)
• Assessments of $631 a month (includes A/C, gas, doorman, cable, exercise room, exterior maintenance, snow removal)
• Taxes of $2120
• Central Air
• Washer/Dryer in the unit
• Bedroom: 11×13
• Den: 10×10

This 1300 square foot 1-bedroom loft in the Mergenthaler Building at 531 S. Plymouth in Printers Row just came on the market.

Originally built in 1886, it was converted into apartments in 1979 and then into condominiums. There are only 20 units in the building. Some parking is available in an outdoor lot next door to the building so the south views appear to be protected.

This unit has exposed brick and 12-foot timber ceilings.

It is just one of 3 lofts in the building with the unique floor to ceiling south facing bay windows.

The kitchen appears to have stainless steel appliances but otherwise not much can be discerned from the pictures.

The loft has central air and washer/dryer in the unit but it doesn’t have any parking.

This building has some of the most unique lofts in Printers Row. We last chattered about a unit in this building in 2008. You can see the interior pictures for that unit here.

Given that lofts in this building rarely come on the market, will this go under contract this week?

Akos Straub at Coldwell Banker has the listing. See the pictures here.

Unit #403: 1 bedroom, 1 bath, 1300 square feet

• Sold in August 2000 for $213,000
• Sold in August 2002 for $248,000
• Sold in January 2007 for $265,000
• Currently listed for $319,900
• Assessments of $680 a month (includes cable, exterior maintenance and snow removal)
• Taxes of $4279
• Central Air
• Washer/Dryer in the unit
• No parking. It’s available to rent in the neighborhood
• Bedroom: 12×8

This 3-bedroom vintage unit at 4300 N. Marine Drive in the Buena Park neighborhood of Uptown just came on the market.

The listing says it has all the exposures, including South, which would be of the city, and the Lake.

Built in 1929, this property has the features you would expect from a vintage unit of that era including 9 foot ceilings, a formal foyer, Venetian plaster ceilings and crown molding.

But this unit has been renovated to modern standards.

The listing says it has a “chef’s kitchen” with honed marble brick floors, granite counter tops and luxury appliances including an oversized Wolf stove.

It also has a wine refrigerator.

The master bathroom is marble with an oversized shower.

It has central air but no laundry in the unit. There is coin laundry in the building.

There is also rental parking available in the building.

Given that this is a renovated unit, and therefore “new”, will this sell quickly?

Mario Greco at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #804: 3 bedrooms, 2.5 baths, 2200 square feet

• Sold in August 2003 for $565,000
• Currently listed for $482,500
• Assessments of $1334 a month (includes heat, doorman, cable, exterior maintenance)
• Taxes of $3626
• Central Air
• No in-unit washer/dryer
• Parking available to rent in the building
• Bedroom #1: 17×16
• Bedroom #2: 17×16
• Bedroom #3: 12×10

This 4-bedroom at 2222 N. Racine in Lincoln Park came on the market in June 2015.

This is a brick and timber loft building but the units are townhouse style, with your own private door facing the courtyard.

This property has 3-levels and a 330 square foot first floor private terrace.

It also has the only private attached garage in the building.

Two of the bedrooms are on the second floor and two are on the third.

The unit has slate flooring and a den with coffered ceilings.

The listing describes the kitchen as a “chef’s kitchen” with Viking, Miele and Subzero appliances.

Originally listed for $999,900 it has recently reduced $50,000 to $949,900.

This property seems to have it all, including the coveted 4-bedrooms.

Why isn’t this selling?

Nathan Ryle at Dream Town has the listing. See the pictures here.

Or you can go to the Open House on Aug 16 from 1:00-3:00 pm.

Unit #5: 4 bedrooms, 3.5 baths, no square footage listed

• Sold in February 2000 for $374,000
• Sold in August 2002 for $629,000
• Sold in August 2005 for $825,000
• Sold in August 2008 for $865,000
• Sold in September 2011 for $742,500
• Originally listed in June 2015 for $999,900
• Reduced
• Currently listed for $949,900
• Assessments of $359 a month (includes exterior maintenance, snow removal)
• Taxes of $8835
• Central Air
• Washer/Dryer in the unit
• Includes the only attached garage in the building
• Bedroom #1: 18×16 (second floor)
• Bedroom #2: 12×10 (second floor)
• Bedroom #3: 13×10 (third floor)
• Bedroom #4: 10×11 (third floor)