Crib Chatter

This 3-bedroom duplex penthouse at 1111 S. Wabash in the South Loop has been on the market since January 2013.

It is bank owned.

It has 2 large terraces and some lake and city views.

There’s work to be done however. While the kitchen has cabinets and counters, there are no floors and the baths have be finished.

It has central air, washer/dryer hook-up in the unit but it doesn’t come with parking (the building DOES have parking however.)

I couldn’t find any original sale of the unit from the developer.

It was listed in March 2005 for $1.554 million.

The unit was re-listed by the bank in January 2013 for $675,000. It has been reduced $90,000 in that time.

With 3,113 square feet, that’s just $181 per square foot.

Is this a deal for someone with the vision to finish the space?

Melissa Somone at Re/Mex 1st has the listing. See the pictures here.

Unit #3302: 3 bedrooms, 3.5 baths, 3113 square feet

• I couldn’t find a prior sale
• Originally listed in March 2005 for $1.554 million
• Lis pendens foreclosure filed in December 2009
• Bank owned
• Re-listed in January 2013 as “as-is” for $675,000
• Reduced several times
• Currently listed at $565,000
• Assessments of $2199 a month (includes heat, a/c, gas, cable, doorman, pool)
• Taxes of $17673
• No parking- but there is a parking garage in the building
• 2 terraces
• Bedroom #1: 14×18 (second floor)
• Bedroom #2: 16×18 (main level)
• Bedroom #3: 13×17 (second floor)

We’ve chattered about prices of 2-bedroom units in One Museum Park West at 1211 S. Prairie in the South Loop several times over the last few years.

As recently as January 2012, it appeared that prices were still on the decline. Read our chatter here.

But that was then and this is now. The 2013 market is much hotter.

As miumiu pointed out, a 12th floor 2-bedroom with 1465 square feet recently sold for $695,000. Previously, they appeared to be selling in the low $600,000s.

This Fannie Mae Homepath 2-bedroom on the 16th floor has been listed since May 2013.

It has 1460 square feet and a bonus “den” measuring 8×7.

From the pictures, the kitchen appears intact with cherry cabinets, granite counter tops and stainless steel appliances.

There are no pictures of the two bathrooms however.

The main living area has cherry wood floors and there appears to be carpet in the bedrooms.

It has central air, washer/dryer hook-up in the unit and 2-car parking which appears to be included.

Originally listed in May 2013 for $760,000, it has been reduced $30,000 to $730,000.

With the sale of #1205 at $695,000, will this unit be able to command a price in the $700,000s?

Allen Snyder at Re/Max Partners has the listing. See the pictures here.

Unit #1603: 2 bedrooms, 2 baths, 1460 square feet

• Sold in May 2008 for $643,000 (included the parking)
• Lis pendens foreclosure filed in June 2010
• Bank owned in March 2013
• Originally listed by Fannie Mae in May 2013 for $760,000 (includes 2 parking spaces)
• Reduced
• Currently listed at $730,000 (parking included)
• Assessments of $395 a month (I don’t think this is correct because #1205 had assessments of $756 a month)- includes a/c, gas, water, doorman, pool, clubhouse, exercise room
• Taxes of $8694
• Bedroom #1: 15×12
• Bedroom #2: 13×11
• Den: 8×7

This 2-bedroom rental in the new Ritz-Carlton high rise at 118 E. Erie in River North came on the market in June 2013.

The listing also says it’s the only rental currently available.

On the 24th floor, it is a split 2-bedroom with 1505 square feet.

It has luxury finishes throughout including stone bathrooms and a full size back splash in the kitchen along with stainless steel appliances.

The rent includes cable, gas, heat, water, a/c, doorman and parking.

The unit directly below it, Unit #23B, is currently for sale for $1.63 million.

It is the same square footage, 1505 square feet, but is a 1-bedroom plus den. It has monthly assessments of $1734 a month.

Originally listed for $7,000 a month, Unit #24B has been on the market nearly 2 months and was just reduced to $6,000.

Should you rent or should you own?

And given the caliber of this building, is this rental a deal at $6,000 a month?

You can see the rental listing here.

Unit #24B: 2 bedrooms, 2 baths, 1505 square feet

• Originally listed for rent in June 2013 for $7,000 a month
• Reduced
• Currently listed for $6,000 a month
• Rent includes cable, gas, heat, water, a/c, doorman, parking for 1 car

This modern 2-bedroom duplex up at 2310 W. North Avenue in Bucktown came on the market in May 2013.

It has contemporary finishes throughout.

The kitchen is along one wall except for a small counter at one end with a wine fridge.

It has espresso cabinets, stainless steel appliances and granite counter tops.

The bathrooms are also upgraded with features like a rain shower with body spray.

The master bedroom is on the second floor and is open to the living room below.

There is also a private deck on the second floor.

It has a heated attached garage space, central air and washer/dryer in the unit.

These units were new construction in 2008.

Listed at $510,000, it has been reduced to $499,000.

Will pricing it under $500,000 bring in a whole new pool of buyers?

Bari Levine at @Properties has the listing. See the pictures and floor plan here.

Or you can see it at the Open House this Sunday, July 28 from 11- 1 PM.

Unit #303: 2 bedrooms, 2 baths, duplex up, no square footage listed

• Sold in January 2009 for $515,000
• Originally listed in May 2013 for $510,000
• Reduced
• Currently listed at $499,000
• Assessments of $276 a month
• Taxes of $8145
• Central Air
• Washer/Dryer in the unit
• Heated garage parking included
• Bedroom #1: 23×12 (second floor)
• Bedroom #2: 12×11 (first floor)

We last chattered about this 3-bedroom single family home at 3350 N. Marshfield in Lakeview in April 2013.

See our prior chatter here.

If you recall, it is in a prime area of Lakeview just a block from the Whole Foods and near the Paulina El stop.

It actually was previously for sale in 2010 but didn’t sell and then it appears it was rented out.

Built in 1888, it is on a smaller than normal Chicago lot of 40×50 so there is no back yard.

The listing for this house labels it the “perfect townhouse alternative.”

Two of the three bedrooms are on the second floor with the third in the finished basement along with a family room.

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

It has central air and the listing says there is an “on-site outdoor parking space”- apparently under the back deck.

With most $500,000 to $600,000 duplex downs in this neighborhood selling pretty quickly, what is holding back this house? 

Tod Pratt at Koenig & Strey still has the listing. See the pictures here.

3350 N. Marshfield: 3 bedrooms, 2 baths, no square footage listed

• Sold in April 1991 for $117,000
• Sold in September 1997 for $220,000
• Sold in October 1999 for $270,000
• Sold in November 2002 for $315,500
• Was listed in August 2010 for $539,900
• Withdrawn
• Was listed in April 2013 for $524,900
• Reduced
• Currently listed at $514,900
• Taxes of $6335
• Central Air
• On-site outdoor parking
• Bedroom #1: 16×14 (second floor)
• Bedroom #2: 18×12 (second floor)
• Bedroom #3: 8×8 (lower level)
• Family room: 18×18 (lower level)

This 2-flat at 1622 W. Addison in Lakeview has been on the market since May 2013.

Built in 1902 on a standard 25×125 lot, it has a duplex up owners unit and a first floor rental.

The units are the following:

• Unit #1: 2 bedrooms, 1 bath, central air, rent of $1700 a month
• Unit #2: 3 bedrooms, 2 baths, washer/dryer, rent of $2300 a month

The kitchen in the owners unit has white cabinets and granite counter tops.

The listing says the property was rehabbed 10 years ago.

They each  have separate air and there is a 2 car garage.

The gross rental income is $48,000.

It grosses $14,000.

It’s been reduced $50,000 since May.

The property is now listed $12,500 under the 2003 purchase price.

Is this a deal?

Jeff Lowe at Prudential Rubloff has the listing. See the pictures here.

1622 W. Addison: 5 bedrooms, 3 baths, 2 car garage

• Sold in December 2003 for $561,500
• Originally listed in May 2013 for $599,000
• Reduced
• Currently listed at $549,000
• Taxes of $11,000
• Gross rental income $48,000
• Gross: $14,000

This 2-bedroom at 630 N. Franklin in River North recently came on the market.

From the public record, it doesn’t appear to have ever sold before.

This appears to be the “penthouse” floor.

It has south and east views from 14 foot floor to ceiling windows.

It is larger than most of the other 2-bedrooms in the building at 1601 square feet but it still has the same look with concrete walls and ceilings.

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

It has central air, washer/dryer in the unit and 2 parking spots are available. It says $34,900 for the spaces. I’m assuming those are  each or a total of $69,800.

This building was built in 2005.

Is it sell now, or forever hold your peace, for some of these units that never sold during the boom?

Heather Gustafson at CMK Realty has the listing. See the pictures here.

Unit #1108: 2 bedrooms, 2 baths, 1601 square feet

• I couldn’t find a prior sale
• Currently listed at $499,900
• Assessments of $514 a month (includes A/C, gas)
• Taxes of $7760
• Parking is $34,900 ( appears to be for 1 space- but 2 are available)
• Bedroom #1: 11×15
• Bedroom #2: 11×11

We last chattered about this 4-bedroom at 1555 N. Astor in the Gold Coast in January 2012.

See our prior chatter here.

The unit was apparently two units that were combined so now it’s a full floor unit with 360 degree views of the lake and city skyline.

The discussion centered around the low taxes, which at that time were apparently only for one of the units. That appears to have been rectified in the new listing because the taxes are nearly double.

At 6,000 square feet it has updated modern finishes in the kitchen and baths, including stainless steel kitchen counter tops.

The building was constructed in 1974 and has an indoor pool and an outdoor tennis court.

There is no deeded parking but there is unlimited fee parking and free guest parking.

The unit has an in-unit washer/dryer but there is no central air- only wall units.

It has reduced $950,000 to $4.45 million.

Will the upper bracket having its best year since the Recession, will this unit sell in 2013?

Jennifer Ames at Coldwell Banker now has the listing. See the pictures here.

Unit #41EW: 4 bedrooms, 4 baths, 2 half baths, 6000 square feet

• Sold in December 2004 for $5.325 million
• Was listed in January 2012 for $5.4 million
• Reduced
• Currently listed at $4.45 million
• Assessments of $4619 a month (includes doorman, cable, pool, tennis courts)
• Taxes of $18,688
• No central air- wall units
• In-unit washer/dryer
• Unlimited fee parking
• Free guest parking
• Bedroom #1: 21×15
• Bedroom #2: 12×12
• Bedroom #3: 21×12
• Bedroom #4: 12×12
• Family room: 27×17

We last chattered about this new(er) construction building at 2408 W. Rice in West Town last summer.

Built in 2008 with 12 units and an elevator on the corner of Rice and Western, it was originally marketed as condos but went rental in the bust.

Last summer, some units came on the market and finally sold.

• Unit #404: 3 bedrooms, 2 baths, 1500 square feet listed at $299,000 and sold for $321,000
• Unit #402: 2 bedrooms, 2 baths, 1200 square feet sold for $297,000

We chattered about #404 in June 2012 here.

Another 3-bedroom unit, #303, has now come on the market.

It has the same finishes as all the other units.

The listing says there is an “exotic Wenge kitchen” and “resort caliber baths” with quartz counter tops.

There are hardwood floors throughout.

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

Originally listed in November 2008 for $449,900, it is now priced at $339,000.

However, at 1295 square feet, it is smaller than #404 which sold for just $321,000 last year.

Will it get the premium over #404 because the market is much hotter?

Karen Biazar at North Clybourn Group has the listing. See the pictures here.

Unit #303: 3 bedrooms, 2 baths, 1295 square feet

• No previous sale
• Originally listed in November 2008 for $449,900
• Last listed in August 2011 for $319,000
• Withdrawn
• Currently listed for $339,000 (includes the parking)
• Assessments of $160 a month
• Taxes of $6013
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×12
• Bedroom #2: 13×10
• Bedroom #3: 11×11

Normally I don’t cover properties that are under contract already, but this vintage 4-bedroom unit at 10 E. Schiller in the Gold Coast is intriguing.

We actually chattered about it the last time it was on the market in September 2008 in a post called “Lake Forest in the city”.

See that chatter and pictures here.

At 3470 square feet, this duplex up is larger than many single family homes.

We’ve chattered about other units in this building before but this one is on the top two floors and has a unique private 19×13 roof deck along with skylights.

Three of the four bedrooms are on the main floor with the fourth on the second floor along with the family room.

The kitchen has white cabinets, appliances and counter tops except on the island where it appears to be butcher block. There’s also a big skylight in the kitchen.

The unit has some of its vintage features, including big crown molding, French doors and a wood burning fireplace.

There is space pac cooling, washer/dryer in the unit and it has rare (for the Gold Coast) attached deeded parking.

Originally listed in May, and then reduced $100,000 to $1.599 million in June, it went under contract soon thereafter.

Was this one of the better deals in the Gold Coast for square footage and amenities?

Nancy Joyce at Koenig & Strey Real Living has the listing. See the pictures here.

Unit #3E: 4 bedrooms, 3.5 baths, 3470 square feet, duplex up

• Sold in June 1993 for $705,000
• Sold in December 2008 for $1.5 million
• Originally listed in May 2013 for $1.699 million
• Reduced
• Currently listed for $1.599 million
• Under Contract
• Assessments of $1805 a month – they were $1567 a month in September 2008 (includes cable, parking, snow removal)
• Taxes of $21368 (but the listing says they were successfully protested in 2012 to $15438)
• Bedroom #1: 17×14 (main level)
• Bedroom #2: 16×13 (main level)
• Bedroom #3: 17×12 (main level)
• Bedroom #4: 17×13 (second level)
• Family room: 27×17 (second level)