Crib Chatter

This 3-bedroom at 24 W. Erie in River North came on the market in November 2022.

Built in 1890, it was converted into 4 units in 1998. It has an elevator which opens into each unit and an attached garage.

This is a full floor unit with all four exposures.

The listing calls it the “peak of luxury.”

It has a foyer, 12 foot ceilings and hardwood floors.

There is an office off the living room and a separate dining room.

The kitchen has modern wood cabinets with a Subzero refrigerator, 6-burner gas stove, a Thermador double-oven, and a peninsula with seating for 2.

There’s also room for a table.

The primary suite has an en suite bathroom with a double vanity, a walk-in-shower and a makeup vanity along with a gas fireplace.

The second bedroom has a built-in Murphy bed.

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

There are two decks, one on the front of the building, facing south, and a massive back deck, facing north.

This building is near all the shops and restaurants of River North and the Mag Mile and is close to Trader Joe’s and Whole Foods.

Listed in November 2022 at $1.3 million, it’s still listed at that price.

Is this a single family home replacement for someone who wants to live in River North?

Margaret Baczkowski at @Properties Christie’s has the listing. See the pictures here. Sorry, no floor plan.

Unit #2: 3 bedrooms, 2.5 baths, 2700 square feet

• Sold in November 1998 for $719,000
• Originally listed in November 2022 for $1.3 million
• Currently still listed at $1.3 million
• Assessments of $1550 a month (includes security, exterior maintenance, scavenger, snow removal)
• Taxes of $31,705
• Central Air
• Washer/dryer in the unit
• Garage parking included
• 2 gas fireplaces
• Bedroom #1: 14×21
• Bedroom #2: 11×12
• Bedroom #3: 16×12
• Office: 9×9
• Kitchen: 17×15
• Living room: 21×20
• Dining room: 21×13
• Laundry room: 4×8
• Balcony: 19×18
• Deck: 22×19

This 5-bedroom in Peoria Green at 123 S. Peoria in the West Loop came on the market in October 2022.

Built in 2021, this building has 5 units with a private elevator that opens into each unit. It has attached heated garage parking.

This unit is a single floor unit. The listing says it has 5700 total square feet of indoor and outdoor living including 3859 indoor and 1842 exterior.

The open concept living room, dining room and kitchen has industrial looking windows that overlooks the Mary Bartelme Park.

The kitchen has Italian cabinetry from Archisesto, Wolf and Subzero appliances, a huge waterfall island and a side pantry.

There’s a family room with built-ins and a beverage fridge.

The primary suite has a built-out 9×16 dressing room with make-up table, 2 vanities, a separate tub and shower. It has a separate door that opens to part of the outdoor terrace.

The other bedrooms also have walk-in-closets.

There’s also a separate office that is being used as a wellness/workout room, features a recovery sauna, and has direct access to the outdoor terrace.

The listing says the terrace is the “largest private outdoor space in the West Loop.” It is fully hardscaped with finished brick parapet walls, concrete pavers for the entire space and has a covered outdoor living room, electricity, gas and water hookups for outdoor cooking.

The unit has a custom built laundry room, an in-unit waste chute, a storage closet, central air and 2 heated garage parking spaces.

This building is across from one of the most popular parks in the West Loop, is near shops, restaurants and grocery stores and isn’t far from Randolph Street and Fulton Market.

It originally sold in June 2021 for $3.17 million and came back on the market in October 2022 for $3.3 million.

Will it get the premium in the spring market?

P. Corwin Robertson and Tiffany Bishop at Jameson Sotheby’s have the listing. See the pictures here. Sorry, no floor plan.

Unit #P2: 5 bedrooms, 5.5 baths, 3859 square feet

• Sold in June 2021 for $3.17 million (per Redfin)
• Originally listed in October 2022 for $3.3 million
• Currently still listed at $3.3 million
• Assessments of $994 a month (includes security, exterior maintenance, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• 2 heated garage parking spaces included
• Bedroom #1: 22×13
• Bedroom #2: 11×14
• Bedroom #3: 11×18
• Bedroom #4: 11×14
• Bedroom #5: 11×18
• Foyer: 7×7
• Gallery: 9×14
• Living/dining room: 17×36
• Kitchen: 10×21
• Family room: 18×14
• Walk-in-closet: 16×10
• Laundry room: 7×8
• Terrace: 99×12
• Terrace: 12×50

This 1-bedroom in 320 W. Oakdale in Lakeview came on the market in November 2022.

The building was designed by Milton Schwartz in 1956 and has 51 units and covered parking. It has many mid-century modern fans.

This is from Wikipedia about the building’s history:

The building at 320 West Oakdale is representative of the apartment building boom in Chicago, Illinois in the 1950s and 1960s. Milton M. Schwartz served as the building’s architect, contractor, and developer, and the building was his first major design. As such, he had complete control over the creative direction of the building, and so was able to tailor it to his interests.

Schwartz intended the building to serve as luxury apartments for the city elite. The apartment was designed so that residences had windows in three or four directions. Rooms were designed to resemble single-story ranch homes. The building was one of the first completely air conditioned all-glass apartments in Chicago.

Stark in its repetition and simplicity, it is a good example of the International Style. The building was highlighted in a 1955 Architectural Forum article about recent Chicago apartment buildings. In the article, it was compared favorably to nearby works by Ludwig Mies van der Rohe and Skidmore, Owings & Merrill. On April 23, 2013, the building was recognized by the National Park Service with a listing on the National Register of Historic Places.

This unit is on the third floor and has floor to ceiling windows with carpeting.

The listing says it is being sold “as-is” and is “estate owned.”

It packs a lot into its 900 square feet including an eat-in kitchen, a dining space, a walk-in-pantry and a walk-in-closet.

The kitchen has wood cabinets which look like they may be original. (?)

The unit also has what appear to be the original accordion-style wood door leading to the walk-in-closet in the bedroom. Would you keep it?

It is on the third floor, which the listing says is the same floor as the building’s laundry room.

The building has an on-site manager.

The unit has central air and parking is available for rent a  half a block away.

Redfin says it last sold in 1997 for $85,000. It is listed at $219,000.

The listing says the building does not allow airbnbs or short term rentals. However, it does allow rentals but has a rental cap of 10 units. The listing says just 2 are rented.

Who’s the buyer for this unit: a renovator to live in it or a possible landlord?

Mary Hinard at @Properties Christie’s has the listing. See the pictures and floor plan here.

Unit #304: 1 bedroom, 1 bath, 900 square feet

• Sold in February 1997 for $85,000 (per Redfin. The CCRD doesn’t have any records older than 1998)
• Originally listed in November 2022 for $219,000
• Currently still listed at $219,000
• Assessments of $787 a month (includes heat, a/c, cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $4076
• Sold “as-is”
• Estate owned
• No washer/dryer in the unit- but laundry in the building
• Central Air
• Parking is available to rent half a block away
• Bedroom: 16×13
• Living room: 24×12
• Pantry: 10×5
• Walk-in-closet: 10×6
• Foyer: 6×8

This 4-bedroom in The Shoreland Apartments at 229 E. Lake Shore Drive in the Gold Coast came on the market in April 2022.

Built in 1918-1919, The Shoreland Apartments was designed by John Fugard who also designed 219 E. Lake Shore Drive next door several years later. The Shoreland is now a co-op building and only has 20 half-floor units.

It does not have parking but the listing says the building has a patio/garden area in the back. The building does have door staff.

This unit has had a “total renovation” which includes “new windows, doors, pipes, plumbing fixtures, a/c systems.”

It has 2 fireplaces, including one in the living room and one in the primary bedroom, a large foyer and a library.

The kitchen has been opened to the family room and dining room. It has white and blue cabinets, a full size island, Subzero fridge, beverage drawers and wine cooler, a Wolf range, wall oven and microwave and a Bosch dishwasher along with a Butler’s pantry.

There are built-ins throughout.

The primary suite has 2 closets and an en suite marble bath with steam shower and radiant flooring.

The second and third bedrooms are also en suite.

The fourth bedroom is used as a den.

The unit has the features buyers look for including dual zoned space pak air, a full sized laundry room but it does not have parking on-site. The listing says it’s available to rent at “The Drake for $320/mo. and 990 Lake Shore Dr. for $350/mo.”

Originally listed in April 2022 for $2.199 million, it has been reduced to $1.749 million.

There are 5 units available in The Shoreland Apartments out of 20 units including Unit #4E, which is listed at $1.999 million.

The monthly assessment includes both the base assessment and the real estate taxes.

East Lake Shore Drive used to be the premier luxury street for condo/co-op buyers in the city. This unit has views of Lake Michigan, DuSable Lake Shore Drive and Oak Street Beach.

Is it still one of Chicago’s top streets?

Suzanne Gignilliat and Joelle Cachey Hayes at @Properties Christie’s have the listing. See the pictures here. Sorry, no floor plan.

Unit #5E: 4 bedrooms, 3.5 baths, 3600 square feet

• Unclear about prior sales price because it’s a co-op so other unit sales can show up in Redfin/Zillow listings.
• Originally listed in April 2022 at $2.199 million (according to Zillow)
• Reduced
• Currently listed at $1.749 million
• Assessments of $7613 a month (includes real estate taxes of $2949 and base of $4664 which includes heat, gas, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes: included in assessment
• Dual zoned space pac
• Washer/dryer in the unit
• 2 fireplaces
• No parking but available to rent in the neighborhood for $320 a month or $350 a month
• Bedroom #1: 22×15
• Bedroom #2: 19×15
• Bedroom #3: 15×17
• Bedroom #4: 13×13
• Living room: 25×17
• Dining room: 15×21
• Family room: 15×21
• Kitchen: 17×18
• Laundry room: 8×11
• Foyer: 23×10
• Library: 19×12

This 5-bedroom penthouse in The Breakers at 199 E. Lake Shore Drive in the Gold Coast came on the market in November 2022.

Built in 1913, The Breakers was designed by Benjamin Marshall in red brick and white-glazed terra-cotta. The listing says it just had a facade restoration (see the picture above).

There are 13 apartments. According to Chicago Apartments: A Century of Lakefront Luxury, the building has two parts, the east part which has single floor apartments, and the west annex which has duplexes.

It was apparently a rental building until 1995 when it was converted into a co-op.

The Breakers has door staff, an exercise room and parking.

Strangely, for such a small building, this is the second chatter we’ve done on the building in the last year, and the other one was also a penthouse that the listing said was a “once in a lifetime opportunity.”

You can see that chatter here.

That unit, #10W, sold on Dec 1, 2022 for $3 million.

This unit is a duplex up and has a 2-story staircase and vaulted ceiling.

It has many of its vintage features including 5 fireplaces, two wood burning and three gas, walnut paneled walls, ornamental ceilings and a unique conservatory with a catering kitchen.

The listing also says it has the original oak and reclaimed marble floors.

One of the wood burning fireplaces is actually in the kitchen which has white cabinets, a big kitchen island with seating, luxury appliances, and a butler’s pantry with 2 warming drawers, and an extra Subzero freezer and ice maker.

The primary bedroom is on the main floor and has a fireplace, built-ins, several walk-in-closets, reading alcove, 2 water closets, a double vanity, walk-in-shower and jacuzzi tub.

It also has a hidden safe and locked jewelry drawers.

The fifth bedroom is also on the main level but the rest are on the second floor where there is also a library, office, sunroom and game room/billards room.

The office has walnut paneling, a powder room and a balcony.

The conservatory is like it’s own little world. From the listing:

“A rare addition is the conservatory with 22′ ceilings and a catering kitchen nearby. It has a separate A/C unit, heated flooring and remote windows surrounding the periphery. This space is totally unique to high rise living as it truly invites the outside in. There is a dining terrace with attached gas grill and seating for six to eight. There is an integrated audio system throughout.”

The unit has central air with 5 HVAC systems and there is garage parking.

While it does have a large outdoor deck, shown in the pictures, the listing says there is the “potential” to build the large rooftop deck.

Listed at $7.99 million, is this the ultimate Chicago penthouse?

Julie Busby and Barbara Steinhauser at Compass have the listing. See the pictures here. Sorry, no floor plan.

Unit #PH-E: 5 bedrooms, 5 baths, 9672 square feet, duplex up

• No  prior sales price as it’s a co-op
• Listed in November 2022 for $7.99 million
• Currently still listed at $7.99 million
• Assessments of $12,834 a month (includes heat, gas, parking, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are $8,556 (#10W was $53,305 and assessments were $6423 a month)
• Central Air
• Washer/dryer in the unit
• Garage parking included
• 5 fireplaces (2 wood burning and 3 gas)
• Conservatory
• Bedroom #1: 27×22 (main floor)
• Bedroom #2: 25×13 (second floor)
• Bedroom #3: 31×13 (second floor)
• Bedroom #4: 18×13 (second floor)
• Bedroom #5: 23×12 (main floor)
• Foyer: 30×15 (main floor)
• Sunroom: 30×28 (second floor)
• Library: 22×16 (second floor)
• Office: 15×11 (second floor)
• Breakfast: 16×15 (main floor)
• Kitchen: 25×14 (main floor)
• Laundry: 12×7 (second floor)
• Dining room: 25×16 (main floor)
• Game room: 25×15 (second floor)
• Sitting room: 31×12 (second floor)
• 2 balconies and unfinished roof top deck

This 2-bedroom in The Bristol at 57 E. Delaware in the Gold Coast originally came on the market in March 2022.

The Bristol was built in 2000 and has 178 units with attached garage parking.

It’s a full amenity building with doorstaff, an indoor pool, exercise room, sauna/hot tub, bike room and on-site manager/engineer.

It was also among the first of the “new” luxury towers built in the Gold Coast.

The listing says this unit has been renovated.

It has south city views.

The unit has dark hardwood floors in the living/dining rooms and kitchen along with carpet in the bedrooms.

The kitchen is open to the living/dining space and has white cabinets, white counter tops, a peninsula with seating and “top of the line” appliances along with a wine refrigerator.

The primary suite has a walk-in-closet and an en suite bath with a bathtub, walk-in-shower and dual vanity.

It has the features that buyers look for including central air, washer/dryer in the unit and 1 parking space is included.

This building is near the Mag Mile and shops and restaurants of the Gold Coast.

Originally listed in March 2022 for $620,000, it’s been reduced and is now listed at $595,000.

You can see the prior listing pictures before the renovation here.

With most sellers waiting until February to list for the spring season, can listing right now be an advantage?

Chezi Rafaeli at Coldwell Banker has the listing. See the pictures here.

Unit #1706: 2 bedrooms, 2 baths, 1500 square feet

• Sold in April 2000 for $452,000
• Sold in May 2004 for $525,000
• Originally listed in March 2022 for $620,000
• Reduced
• Currently listed at $595,000 (includes 1 car parking)
• Assessments of $1145 a month (includes cable, Internet, bike room, door staff, exercise room, party room, indoor pool, hot tub/sauna, on-site engineer/manager)
• Taxes of $12,730
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 17×13
• Bedroom #2: 13×11
• Living/dining room: 22×15
• Kitchen: 14×8

We already know from Gary’s data that November’s sales were down sharply compared to last year, which was a 15-year record high. They were at the lowest since 2011’s housing bust market.

All of us watching the Chicago housing market know that sales have ground to a halt thanks to higher mortgage rates.

From the Illinois Association of Realtors:

In Chicago, home sales (single-family and condominiums) in November 2022 totaled 1,522 homes sold, a 36.5 percent decrease from November 2021 sales of 2,396 homes.

In the city of Chicago, the median price of a home in November 2022 was $305,000, a decrease of 6.7 percent from $327,000 in November 2021.

Here is the November sales data for the last 15 years (thanks to G for some of the data):

• 2007: 1859 sales and median price of $290,000
• 2008: 1093 sales and median price of $222,500 (16% short/REO sales)
• 2009: 1905 sales and median price of $215,000 (29% short/REO sales)
• 2010: 1144 sales and median price of $182,500 (39% short/REO sales)
• 2011: 1429 sales and median price of $157,000 (43% short/REO sales)
• 2012: 1750 sales and median price of $180,000
• 2013: 1844 sales and median price of $200,000
• 2014: 1638 sales and median price of $230,000
• 2015: 1661 sales and median price of $233,500
• 2016: 1937 sales and median price of $260,000
• 2017: 1959 sales and median price of $256,000
• 2018: 1852 sales and median price of $261.745
• 2019: 1671 sales and median price of $270,000
• 2020: 2018 sales and median price of $295,000
• 2021: 2396 sales and median price of $327,000
• 2022: 1522 sales and median price of $305,000

“The housing market in Illinois has slowed since its peak in June,” 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. “The median home price and the number of sales were lower in November than at the same time last year. The number of foreclosures has increased but is still not high by historical standards. Our forecasts indicate that the number of sales will remain low over the next three months. Prices are forecast to increase slightly in the Chicago area over the few months but are expected to continue to decline somewhat in the rest of Illinois.”

Statewide, inventory fell 12.3% year-over-year to 24,279 from 27,692 even though sales declined 30%.

In Chicago, inventory also fell, declining 16.3% to 6,559 from 7,837 last year.

Days on the market in Chicago also fell again, to 35 days from 36 days last year.

Condos/townhouses remain the weaker market with sales down 40.3% year-over-year to 849 while single family home sales fell “just” 31% to 673.

The average 30-year fixed rate mortgage was 6.81% in November, down from 6.9% in October but up dramatically from November 2021 when it was just 3.07%.

“With many major industries seeing market declines in the face of rising interest rates, it’s no surprise that the November housing market also declined in closed sales, median sales price and inventory,” said Sarah Ware, president of the Chicago Association of REALTORS® and principal and designated managing broker for Ware Realty Group in Chicago. “However, mortgage rates began to drop, which will hopefully draw more buyers into the market as we move towards 2023.”

Will the decline in inventory put a floor under Chicago home prices even with sales plunging?

Illinois homes sell quickly in November; median prices and inventory dip [Illinois Association of Realtors Press Release, by Bill Kozar, December 21, 2022]

This 2-bedroom duplex up at 2121 W. Division in West Town came on the market in October 2022.

2121 W. Division was built in 1999 and has 6 units including commercial space on the first floor. It has garage parking behind the building.

The listing says this unit was “recently updated.”

The first floor is open concept with the living and dining rooms and the kitchen. It also has a half bath and a fireplace.

It has a boxed ceiling and there are oak hardwood floors.

The kitchen has “high quality” cabinets, stainless steel appliances and granite counter tops along with a large island.

The unit has a “huge” front balcony off the main level that overlooks Division Street, including all the restaurants, coffee shops, bars and shops there. The listing says it is a new composite deck.

The second floor includes both bedrooms and a den or office and both full bathrooms.

The primary suite has a walk-in-closet and en suite bath with jacuzzi tub.

The listing says the unit has been freshly painted.

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

This building is in the middle of the Division Street action and is near shops and restaurants of Ukrainian Village and Wicker Park.

Listed in October 2022 for $549,000, it has been reduced to $529,900.

Is this a townhouse alternative?

Jennifer Ublasi and Stephanie Juckem at Jameson Sotheby’s have the listing. See the pictures here. (sorry, no floor plan)

Unit #4: 2 bedrooms, 2.5 baths, duplex up, 1650 square feet

• Sold in December 1999 for $245,000
• Sold in May 2005 for $405,000
• Sold in September 2014 for $390,000
• Originally listed in October 2022 for $549,000
• Reduced
• Currently listed at $529,900 (garage parking included)
• Assessments of $275 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,505
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 14×11 (second floor)
• Bedroom #2: 25×10 (second floor)
• Living room: 21×14 (main floor)
• Dining room: 10×11 (main floor)
• Kitchen: 11×12 (main floor)
• Den: 8×6 (second floor)
• Laundry: 6×8 (second floor)
• Deck: 24×32 (main floor)

This 2-bedroom duplex up loft at 1137 N. Wood in the East Village neighborhood of West Town came on the market in July 2022.

Converted into lofts in 2000, 1137 N. Wood has 16 units and attached garage parking. The building has an elevator and bike room.

This is an end-unit with soaring ceilings and exposed ductwork on the first level. The listing says it is “like living in an art gallery” and the space can be used as you desire.

The first level has the living/dining room and kitchen along with a half bath and a west facing industrial window.

The kitchen has been “recently rehabbed” with two-color cabinetry which looks like black (or dark blue?) cabinets on the bottom and white on the top, along with a designer white tile backsplash, stainless steel appliances, and granite counter tops.

There are hardwood floors throughout both levels.

Both bedrooms are on the second floor and are fully enclosed.

The primary suite has north and west windows, 14 foot ceilings, a walk-in-closet, and en suite bath with double bowl vanity, separate tub and shower.

The large private deck is accessed from the second floor and runs the length of the unit.

This loft has all the features that buyers look for including central air, washer/dryer in the unit and attached garage parking.

This building is steps away from all the shops and restaurants of Division Street as well as Wicker Park and Ukrainian Village.

Originally listed in July 2022 for $549,900, it has been reduced $50,000 to $499,900.

Is this loft a good townhouse alternative?

Nicholas Apostal at Keller Williams ONEChicago has the listing. See the pictures here.

Unit #1A: 2 bedrooms, 2.5 baths, no square footage listed, duplex up

• Sold in November 2001 for $295,000
• Sold in June 2008 for $408,000
• Originally listed in July 2022 for $549,900
• Reduced
• Currently listed at $499,900 (garage parking included)
• Assessments of $362 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $9121
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 19×14 (second floor)
• Bedroom #2: 13×12 (second floor)
• Living/dining combo: 13×30 (main floor)
• Kitchen: 11×8 (main floor)

This 2-bedroom in Astor Villa at 1430 N. Astor in the Gold Coast came on the market in December 2022.

Built in 1974 by Arpen Group Architects, Astor Villa is a boutique condo building with just 50 units and attached garage parking.

It has door staff, an exercise room and a rooftop deck with city views.

There are only 3 units per floor.

According to the listing, this unit was fully renovated in 2015 and got new electrical, plumbing, windows and walls were removed.

It has an oversized foyer with porcelain floors and there are also porcelain floors in the kitchen. The living/dining room have cherry floors.

The kitchen has cabinets in wenge high gloss, KitchenAid appliances, quartz counter tops and a glass backsplash.

It has a primary suite which has black parquet wood floors, auto control shades, a walk-in-closet and an en suite bathroom with a double vanity, porcelain floors, quartz counter tops and a separate shower.

The second bedroom is being used as a library/media room and also has black parquet floors.

The second bathroom has quartz and porcelain tiles.

It has an east facing balcony and the listing says the unit has “views of Lake Michigan, the Gold Coast and the Chicago skyline.”

The unit has the features that buyers look for including washer/dryer in the unit and it looks like garage parking is included. It doesn’t have central air but does have wall heating/cooling.

Listed at $550,000, another unit on this floor is under contract listed at $525,000. You can see the pictures of #17B here.

Is this property priced to sell?

Craig Hogan and Rodolfo Zavala at Coldwell Banker have the listing. You can see the pictures here (sorry, no floor plan.)

Unit #17A: 2 bedrooms, 2 baths, 1500 square feet

• Sold in September 1992 for $45,000
• Sold in August 2015 for $322,000
• Currently listed at $550,000
• Assessments of $1715 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $8378
• No central air but wall units
• Full size stackable washer/dryer in the unit
• Bedroom #1: 20×12
• Bedroom #2: 14×11
• Kitchen: 18×9
• Dining room: 13×10
• Living room: 25×16
• Laundry room: 3×3
• Balcony