Crib Chatter

This 3-bedroom townhouse in Dearborn Park at 978 S. Park Terrace in the South Loop came on the market in February 2024. The picture above represents a unit in this complex but not necessarily THIS unit.

These townhomes were built in 1980. There are 144 units and parking (is it outdoor?).

This unit is two stories with an open floor plan on the main floor.

It has hardwood floors throughout.

The first floor has a living room, dining room, kitchen and half bath.

The listing calls the kitchen “gourmet” with white cabinets, stone counter tops, a peninsula that seats 3 and stainless steel appliances.

There’s also a private, fenced in patio on the main floor.

The second floor has all three bedrooms and 2 full baths.

The primary suite has an en suite bathroom with marble finishing throughout and a walk-in-closet.

This house has central air and parking is included.

This complex is just south of Printers Row and is near shops and restaurants of the South Loop.

Listed in February 2024 for $629,000, it has been reduced $19,100 to $609,900.

Is this a deal?

Tom Bakritzes at Compass has the listing. See the pictures and floor plan here.

Unit #610: 3 bedrooms, 2.5 baths, 1500 square feet, townhouse

• Sold in November 2011 for $270,000
• Originally listed in February 2024 for $629,000
• Reduced
• Currently listed at $609,900
• Assessments of $560 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal, Interent)
• Taxes of $7353
• Central Air
• Washer/dryer in the unit
• Parking included
• Bedroom #1: 22×11 (second floor)
• Bedroom #2: 13×11 (second floor)
• Bedroom #3: 13×10 (second floor)
• Kitchen: 18×8 (main floor)
• Living room: 15×12 (main floor)
• Dining room: 15×10 (main floor)
• Foyer: 9×6 (main floor)
• Patio: 11×21 (main floor)

This 3-bedroom duplex down at 1351 N. Damen in Wicker Park came on the market in April 2024.

Built in 1885, this building was “gutted to the studs” in 2019 by ZS Development. It has 3-units, garage parking and a side yard.

We chattered about this building when it was first being gutted back in 2019. Some of you didn’t like the location on Damen.

See our 2019 chatter here.

We now have interior pictures of the unit which were missing in 2019. This unit does not have any of its vintage features anymore.

But it does have windows on all four sides of the building with a side yard on one side and an alley on the other.

The unit has wide panel hardwood floors.

The main floor has the living room, dining room, kitchen and a family room all in open concept.

There’s also a half bath on the main floor.

The kitchen is “gourmet” and has custom white ceiling height cabinetry, professional grade integrated stainless steel appliance package, quartz countertops, and an oversized island with waterfall edge and seating for 5.

The lower level has all three bedrooms, two full bathrooms, a sitting area and the laundry.

The primary suite has a walk-in-closet and a luxurious en suite with oversized shower and double vanity.

It has central air, washer/dryer in the unit and one car garage parking.

This unit also has an expansive 600 square foot private patio and side yard which provides a “rare oasis in the city.”

This building is near the Blue Line stop at Damen, and the shops and restaurants of Wicker Park, Bucktown, Ukrainian Village and West Town.

Listed at $895,000, is this a townhouse alternative?

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

Unit #1: 3 bedrooms, 2.5 baths, 2030 square feet, duplex down

• Sold in December 2019 for $772,000 (per Redfin)
• Currently listed at $895,000
• Assessments of $266 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $8796
• Central Air
• Washer/dryer in the unit
• 1 car garage parking
• Bedroom #1: 12×13 (lower level)
• Bedroom #2: 12×10 ( lower level)
• Bedroom #3: 10×11 (lower level)
• Living room: 14×12 (main level)
• Dining room: 16×15 (main level)
• Family room: 15×10 (main level)
• Kitchen: 15×13 (main level)
• 600 square foot private patio and side yard

This 3-flat at 2509 N. Halsted in Lincoln Park came on the market in November 2023.

Built in 1886, this 3-flat is on a 25×125.75 lot and has a 2-car garage.

If it looks familiar, that’s because we have chattered about it two other times before: in 2010 and 2018.

In 2010, it was being marketed as a possible tear down for the lot location but instead it was saved and renovated and it is still standing 14 years later.

See our 2018 chatter here.

If you recall, it still has some of its vintage features including an ornate metal sliding wood burning fireplace, ceiling medallions, crown molding, French doors and hardwood floors throughout.

Yet it also has modern upgrades including stainless steel appliances in the kitchens.

Some units have wall air conditioning units and there is a shared laundry room in the lower level.

Here are the units:

Unit #1: 1 bedroom, 1 bath, mother-in-law unit

• No rent given in 2010
• Rented at $1400 a month in 2018
• Rented at $2100 a month in 2024

Unit #2: 1 bedroom, 1 bath

• Rented at $2000 a month in 2010
• Rented at $1750 a month in 2018
• No rent given in 2024

Unit #3: 2 bedrooms, 1 bath

• Rented at $1300 a month in 2010
• Rented at $2200 a month in 2018
• Rented at $2600 a month in 2024

This building is near DePaul University and the shops and restaurants of central Lincoln Park. There are several bus lines and the subway nearby.

Listed in November 2023 for $999,000, the price has been reduced, and raised, and now sits at $975,000.

It last sold in September 2021 for $740,000.

Will the seller get the premium just 3 years later?

Judi Weintraub at @Properties Christie’s has the listing again. See the pictures and floor plan here.

2509 N. Halsted: 4 bedrooms, 3 baths, no square footage listed, 3-flat

• Sold in January 1988 for $185,000
• Sold in July 1992 for $200,000
• Sold in April 1998 for $400,000
• Sold in November 2013 for $679,000
• Originally listed in October 2018 for $950,000
• Sold in September 2021 for $740,000
• Originally listed in November 2023 for $999,000
• Reduced (and raised)
• Currently listed at $975,000
• Taxes are now $26,121 (they were $16,072 in December 2018) 
• No central air
• 2-car garage
• Tenants pay gas/electric/parking
• Washer/dryer in the basement
• Unit #1: rented at  $2000 a month
• Unit #2: no rent listed
• Unit #3: rented at $2600 a month

This 2-bedroom in Ontario Place at 10 E. Ontario in River North came on the market in June 2023.

Built in 1983, Ontario Place was originally called the Private Residences at Ontario Place and was an apartment building. It was converted to condos in 2005, during the housing bubble.

It has 467 units  and an attached parking garage. It is a full amenity building with 24/7 door and maintenance staff, an outdoor pool and sundeck, a fitness center, a dry cleaners and a business center.

It even has a mature park on top of the parking garage with trees, grass, and places for residents to gather.

You might remember that there was a Chili’s in the base of the building but it now houses a Gordon Ramsay Burger.

This unit is on the 50th floor and has “gorgeous” city and lake views from a private 150 square foot terrace.

The listing says “no expense spared” on the renovation of this unit.

It has custom 12×24 Daltile on-trend Porcelain tile laid in a classic herringbone pattern on the floors throughout.

The unit has custom Lightology lighting and custom remote window shades.

The kitchen is open to the living/dining room and has true walnut kitchen cabinets with vintage mirror inserts, wine storage, Taj Mahal quartzite countertops, a handmade backsplash from Italy and luxury stainless steel appliances.

There is also an exposed brick wall in the living/dining room and a ceiling fan.

Both bathrooms have heated floors.

The primary suite has an en suite bathroom with Iceberg counter tops in quartz, a Toto smart toilet, Newport brass plumbing and a clear glass frameless 3/8 thick shower door.

This unit has central air, one parking space is included but it doesn’t have in-unit washer/dryer. There is coin laundry in the building.

We haven’t chattered about Ontario Place in quite some time. For the last 3 years the owners have been distracted by a planned deconversion from condos back into apartments that was going to be one of the priciest in the city at $190 million.

From The Real Deal in July 2023:

A condo deconversion that had been on the table for years to transition the 51-story, 467-unit Ontario Place building into apartments was killed on June 7, and since then a load of units in the building have come up for sale, several of them owned by investors who thought they’d make well more in a bulk sale to Strategic than they’re seeking for their condos now.

The listing also says Ontario Place has $2.7 million in reserves.

This building is in the heart of River North, near the Eataly, the Mag Mile, an AMC movie theater, a Sweetgreen, the temporary Bally’s casino and numerous bus lines as well as the Red line stop at Grand.

Listed at $650,000 in June 2023, it has been reduced to $599,000.

That’s now under the March 2007 housing bubble purchase price of $620,500.

Buyers love “new.”

Will the renovation make the sale?

Janelle Emalfarb-Gordon at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #5006: 2 bedrooms, 2 baths, 1390 square feet

• Sold in March 2007 for $620,500
• Lis pendens foreclosure filed in July 2009
• Sold in April 2010 for $325,000
• Sold in January 2016 for $489,000
• Originally listed in June 2023 for $650,000
• Reduced
• Currently listed at $599,000
• Assessments of $1156 a month (includes doorman, exercise room, pool, exterior maintenance, scavenger, coin laundry)
• Taxes of $9,000
• Central Air
• No washer/dryer in the unit but laundry room in the building
• One parking spot included
• Bedroom #1: 12×17
• Bedroom #2: 11×15
• Living/dining combo: 15×22
• Kitchen: 9×17
• Balcony: 3×25

This 4-bedroom full floor unit at 400 W. Huron in River North came on the market in October 2023.

Built in 2017, 400 W. Huron has 26 units and attached private garage parking.

It has 24-hour door staff, an exercise room, bike storage and a dog run.

This unit is “completely custom” with a private elevator entrance. In the picture above, it is directly above the parking and base of the building.

The interior has floor to ceiling windows and 13 foot ceilings with 5566 square feet.

There is a double island Valcucine kitchen with seating, Miele appliances and butler pantry.

There is a separate dining room.

The primary suite has a sitting room, a walk-in-closet, and a spa bath with freestanding tub, steam shower and infrared sauna.

All four bedrooms are en suite and there are two other half baths.

The laundry room has two sets of washer/dryers.

There is central air and a private 4-car garage.

There is also a storage room with 2 temperature controlled wine storage lockers.

But the biggest feature of this property is the 7200 square outdoor space (the listing says it’s 2.25 Chicago lots) which wraps around 3 sides of the unit and has city views.

It includes a green terrace, a 30×12 outdoor pool with a hot tub, 2 fire pits, an outdoor kitchen and covered bar.

The listing doesn’t say if it has irrigation but there are plenty of planters in the pictures.

This is the only outdoor private pool I have ever seen in River North, but we have chattered about some indoor ones in the past.

This building is near the shops and restaurants of west River North.

Listed in October 2023 at $6,999,999, it remains at that price.

With the unique outdoor space, how long will this take to sell?

Vincent Anzalone at Dream Town Real Estate has the listing. See the pictures and floor plan here.

• Sold in May 2017 for $3.75 million (per Redfin)
• Originally listed in October 2023 for $6,999,999
• Currently still listed at $6,999,999
• Assessments of $6110 a month (includes doorman, cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $88,964
• Central Air
• 2 sets of washer/dryers in the unit
• 2 fireplaces
• Pool with hot tub
• Outdoor kitchen/bar
• Bedroom #1: 17×16
• Bedroom #2: 19×13
• Bedroom #3: 15×14
• Bedroom #4: 13×11
• Living room: 28×22
• Dining room: 22×18
• Kitchen: 13×18
• Office: 15×14
• Sitting room: 16×13
• Laundry: 9×8
• Walk-in-closet: 13×11
• Bar: 25×13
• Deck: 90×17
• Terrace: 11×90

This corner 2-bedroom in Huron Pointe at 421 W. Huron in River North came on the market in March 2024.

Built in 2001, Huron Pointe has 99 units and attached garage parking.

The building has door staff, an exercise room, a bike room, and a sundeck.

The listing for this unit calls it “urban chic at its best.”

It has a split 2/2 floor plan with 9 foot ceilings and hardwood floors throughout.

It is open concept in the living room, dining room and kitchen with sliding doors opening to an 800 square foot wrap around terrace.

The terrace faces south and east and has multiple entertainment spaces, including barbecues and a fire pit.

The kitchen has blue custom kitchen cabinets that have been “refurbished” along with custom hardware from Rejuvenation.

It has a built-in pantry, white quartz counter tops, a large quartz peninsula with seating for 4, GE stainless steel appliances, and a 2-drawer Fisher Paykel DW, along with a subway tile backsplash.

The primary bedroom is en suite with a spa-inspired all marble primary bath with a walk-in-shower and double vanity.

It also has a walk-in-closet which the listing says has a custom organized system ($5800).

The second bathroom has a new Moen shower.

The unit has the features buyers look for including central air, a new (2023) full size GE washer/dryer and deeded parking is available for $35,000.

This building is in West River North, near shops and restaurants like Mr. Beef and is near the Chicago Brown Line subway stop.

Listed at $699,000, that is $94,000 above the January 2022 sales price of $605,000.

With such low inventory citywide, will this River North condo get the premium?

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

Unit #505: 2 bedrooms, 2 baths, 1325 square feet

• Sold in June 2001 for $319,000
• Sold in June 2004 for $420,000
• Sold in November 2019 for $495,000
• Sold in January 2022 for $605,000
• Originally listed in March 2024 for $699,000 
• Currently still listed for $699,000 (parking $35,000 extra)
• Assessments of $784 a month (includes heat, a/c, gas, doorman, exercise room, exterior maintenance, scavenger, sundeck)
• Taxes of $15,526
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 16×14
• Bedroom #2: 13×10
• Living/dining combo: 11×20
• Kitchen: 14×10
• Walk-in-closet: 8×7
• Wrap around terrace: 800 square feet

This 3-bedroom penthouse at 445 W. Arlington in East Lincoln Park came on the market in March 2024.

Built in 2019, 445 W. Arlington was designed by Booth Hansen Architects to mimic the look of row houses when, in reality, it’s an 8-unit elevator building with garage parking.

It is one of only 2 penthouse units and has private elevator access which opens directly into the unit.

All of the living space is apparently on one floor with a private 1000 square foot rooftop deck complete with a pergola and natural gas fire table.

The kitchen is open to the living and dining rooms. It has white cabinets, top-of-the-line appliances, an island with wood cabinets, a beverage refrigerator, and an under-the-stairs pantry.

There are multiple French doors in the living room which open onto a 600 square foot terrace with built-in gas grills, large scale planters and an automatic irrigation system.

The listing calls it a “tranquil sanctuary.”

2 of the 3 bedrooms have skyline views.

The primary suite has a spa-quality bathroom with a freestanding soaking tub, steam shower and heated floors.

This home has Nest Home devices and automatic blinds in every room.

It comes with the features that buyers look for including central air, washer/dryer in the unit and 2-car garage parking.

This building is in the “highly coveted” East Lincoln Park neighborhood which is just steps from Lincoln Park, the Zoo, and the shops and restaurants on Clark Street. The listing says it’s in the Lincoln Elementary school district.

This unit sold in 2019 for $2 million and has come on the market 5 years later for $2.25 million.

This property seems to have it all, including rare 2-car garage parking.

Will this sell quickly?

Stefanos Karavolos at Avenue Realty has the listing. See the pictures here (sorry, no floor plan).

Unit #4E: 3 bedrooms, 2.5 baths, 2146 square feet, penthouse

• Sold in July 2019 for $2 million
• Listed in March 2024 for $2.25 million
• Currently still listed at $2.25 million
• Assessments of $1132 a month (includes lawn care, scavenger, snow removal)
• Taxes of $39,602
• Central Air
• Washer/dryer in the unit
• 2-car garage parking included
• Bedroom #1: 15×12
• Bedroom #2: 15×12
• Bedroom #3: 14×11
• Living room: 24×13
• Kitchen: 14×11
• Dining room: 13×10
• Laundry: 6×4
• Terrace: 34×18
• Rooftop deck: 34×30 (second floor)

The February data is out from the Illinois Association of Realtors. Spring buying season appeared to start early this year due to the mild winter weather.

Sales were up from last year, even with mortgage rates over 6%, as median price was at a 27-year high.

From the Illinois Association of Realtors:

The city of Chicago saw a 6.7 percent year-over-year home sales increase in February 2024 with 1,321 sales, up from 1,238 in February 2023. The median price of a home in the city of Chicago in February 2024 was $330,000, up 6.5 percent in February 2023 when it was $310,000.

Here is the sales data for February going back to 1997 (courtesy of G):

• 1997: 881 sales
• 1998: 991
• 2000: 1383
• 2001: 1151
• 2002: 1677
• 2003: 1566
• 2004: 1814
• 2005: 2228
• 2006: 1855
• 2007: 1703
• 2008: 1454
• 2009: 870
• 2010: 1257
• 2011: 1092
• 2012: 1250
• 2013: 1411
• 2014: 1361
• 2015: 1497
• 2016: 1567
• 2017: 1529
• 2018: 1535
• 2019: 1449
• 2020: 1496
• 2021: 1658
• 2022: 1924
• 2023: 1238
• 2024: 1321

Here is the Median Price Data also going back to 1997 (thanks G!):

• 1997: $117,000
• 1998: $132,000
• 1999: $143,750
• 2000: $161,500
• 2001: $180,200
• 2002: $212,000
• 2003: $215,000
• 2004: $229,900
• 2005: $268,900
• 2006: $267,500
• 2007: $270,000
• 2008: $290,000
• 2009: $218,125 (with 31% being REO/Short Sales)
• 2010: $176,000 (with 46% being REO/Short Sales)
• 2011: $150,250 (with 50% being REO/Short Sales)
• 2012: $140,300 (with 52% being REO/Short Sales)
• 2013: $158,000
• 2014 $175,000
• 2015: $212,000
• 2016: $236,000
• 2017: $246,000
• 2018: $272,000
• 2019: $272,500
• 2020: $290,000
• 2021: $320,000
• 2022: $320,000
• 2023: $310,000
• 2024: $330,000

Just a reminder that 2022 was the highest February for sales in 17 years in Chicago. The Federal Reserve started its rate increases in March 2022 so February was the last hurrah at the lower rates.

“Sellers drove the market in February, as seen in the increase in both closed sales and median sales price,” said Drussy Hernandez, president of the Chicago Association of REALTORS® and vice president of brokerage services for Coldwell Banker Realty in Chicago. “Competitively priced homes are moving quickly, and multiple offer scenarios are commonplace due to strained inventory and buyer demand.”

Single family home sales jumped year-over-year, rising 17% to 524. Condo sales were also up 0.9% to 797.

Inventory continued to slide.

Statewide, inventory fell 14.4% to 15,502 homes from 18,107 in 2023. That’s the lowest number of homes on the market since the IAR began tracking it in 2008.

In Chicago, inventory fell 20.3% to 4,111 homes from 5,155 last year.

Days on the market in Chicago was down a day, to 46 days from 47 days last year.

The 30-year average fixed rate mortgage was 6.78% in February, up from 6.64% in January and also higher than February of last year, when it was 6.26%.

“Even though February home sales were down slightly, I feel confident a growing number of consumers are feeling better about the economy and are anticipating more positive news on reduced interest rates,” says Matt Silver, Illinois REALTORS® 2024 President and partner and senior broker for Corcoran Urban Real Estate in Chicago. “And to improve our woeful housing shortage, we’re working diligently with state lawmakers on several legislative measures that will create housing that is more affordable around the state.”

There appears to be a lot more buyers than properties which is leading to multiple bid scenarios.

Is inventory bottoming out this spring or will it fall even further?

With housing inventory reaching lowest mark since 2008, Illinois’ February home sales dip [Illinois Association of Realtors Press Release, by Bill Kozar, March 21, 2024]

This 3-bedroom loft at 1237 N. Honore in Wicker Park came on the market in March 2024.

If it looks familiar, that’s because we chattered about this loft the last time it was on the market in August 2019.

See our chatter here.

I don’t know when the building was built but 1237 N. Honore has 7 units and secured outdoor parking.

The building has a shared roof deck with city views and a shared 25×95 yard. There are no other amenities.

This loft has authentic details including exposed brick walls, timber ceilings and exposed ductwork along with industrial windows.

It’s a single story loft with 2460 square feet.

There’s a fireplace in the living room and a separate dining room.

The kitchen is a “chef’s kitchen” with wood cabinets, black stone counter tops, stainless steel appliances and an island with seating for four.

The three bedrooms have full walls but only two of them have windows.

The primary suite has an en suite bathroom and a sitting area.

The unit has the features that buyers look for including central air, washer/dryer in the unit and 2 secured outdoor parking spaces.

This building is near the shops and restaurants on Division Street and Milwaukee. There are also bus lines nearby.

When we last chattered about this loft in August 2019, it was listed at $950,000.

It never sold and has now come back on the market at the same price of $950,000.

With inventory so low, will this loft sell quickly 5 years later?

Carrie McCormick at @properties Christie’s has the listing. See the pictures here (sorry, no floorplan, but there is video.)

Unit #3S: 3 bedrooms, 2 baths, 2460 square feet, loft

• Sold in August 1993 for $206,000
• Sold in January 2003 for $426,000
• Sold in April 2017 for $875,000
• Originally listed in July 2019 for $950,000
• Withdrawn
• Listed at $950,000 (includes 2 outdoor secure parking spots)
• Assessments are still $424 a month (includes exterior maintenance, lawn care, scavenger)
• Taxes are now $17,536 (they were $14,644 in August 2019)
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 14×16
• Bedroom #2: 12×14
• Bedroom #3: 12×8
• Living room: 24×33
• Dining room: 15×10
• Kitchen: 24×13

This 2-bedroom loft penthouse at 420 W. Grand in River North came on the market in March 2024.

Built in 1910, 420 W. Grand is an industrial loft building with 44 units and attached garage parking.

It doesn’t have any amenities other than a common patio.

This loft is an authentic loft with exposed brick walls, a timber ceiling, exposed duct work and large industrial windows, including some arched windows.

It has an open concept living room, dining room and kitchen with a fireplace.

There is a “new” designer kitchen with custom gray and wood Italian cabinets, quartzite counter tops and backsplash, a Subzero refrigerator, a wine fridge, a beverage fridge, Wolf stove and warming drawer, a Bosch dishwasher and Hansgrohe kitchen faucet with a island that seats 3.

Both bedrooms are fully enclosed but have interior windows to the main living space.

The primary suite has a window. It has a walk-in-closet and an en suite bathroom with heated floors, flamed granite counter tops, dual vanity, Brizzo fixtures, a glass shower and custom cabinets.

The second bedroom has no window and is also en suite.

The unit has features buyers look for including central air, washer/dryer in the unit and one deeded garage parking space is included.

This loft also has a balcony off the living room with city views.

The listing also says the unit has “full roof rights” if you want to build out a rooftop deck.

This building is near the shops and restaurants of west River North as well as the riverwalk and Ward Park.

Listed at $1.389 million, does this penthouse check a lot of boxes for loft lovers?

Linda Levin at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #5D: 2 bedrooms, 2 baths, 2500 square feet, loft

• Sold in June 1995 for $438,500
• Sold in November 2017 for $1.29 million
• Currently listed at $1.389 million 
• Assessments of $1554 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $23,138
• Central Air
• Washer/dryer in the unit
• One car deeded garage parking included
• Fireplace
• Bedroom #1: 19×15
• Bedroom #2: 17×12
• Living room: 33×28
• Kitchen: 27×16
• Dining room: 13×13
• Foyer: 10×8
• Balcony: 14×6