Crib Chatter

This 2-bedroom townhouse at 1777 W. Altgeld in Lincoln Park has been on the market since May 2011.

There seems to be some dispute, however, as to whether it is really a 2-bedroom or a 1-bedroom with den. Older listings say it was a 1-bedroom with den. The current listing calls it a 2-bedroom.

One bedroom is on the third floor and the second is on the main level. In the notes left by Redfin agents, they say the second bedroom is really a lower level open family room.

The kitchen has white cabinets and appliances.

There is a 1-car attached garage and a balcony off the living room.

One of the Redfin agents also says in the notes that the “unit is located next to the Metra tracks.”

This townhouse has been reduced $65,200 since May 2011.

It is now listed $3700 under the 2001 purchase price.

Is the $260,000 price as attractive when you know that this is might really be a 1-bedroom plus den/family room?

Elizabeth Kulaszewski at Jameson Sotheby’s  has the listing. See the pictures here.

Unit H: 2 bedroom, 2 bath, 1350 square feet, townhouse, 1 car garage

• Sold in January 1994 for $169,000
• Sold in September 1999 for $219,000
• Sold in October 2001 for $263,500
• Originally listed in May 2011 for $325,000
• Reduced numerous times
• Currently listed at $259,800
• Assessments of $150 a month
• Taxes of $3884
• Central Air
• Bedroom #1: 16×12 (third floor)
• Bedroom #2: 12×10 (main floor)
• Living/dining on second floor

In the boom, it would have been nearly impossible to get a 3-bedroom condo in the hot Andersonville neighborhood with parking for under $400,000.

But times have clearly changed.

This 3-bedroom in a vintage 3-flat at 1512 W. Olive came on the market in September 2012 listed at $369,900.

It has a newer kitchen with cherry cabinets, granite counter tops and stainless steel appliances.

There is travertine tile in the master bath.

The building was built in 1920 and has some vintage features such as a front sunroom.

The unit has the other features buyers look for including central air, washer/dryer in the unit, a back deck and parking.

It is listed for $36,600 under the 2005 purchase price.

Is this a deal for the space and the neighborhood or is this simply now the market in Andersonville?

Stephen Northey at Koenig & Strey Real Living has the listing. See the pictures here.

Or you can see it in person at the Open House on Sunday, November 4 from 1 pm-3pm.

Unit #2: 3 bedrooms, 2 baths, no square footage listed

• Sold in July 2005 for $406,500
• Originally listed in September 2012 for $369,900
• Currently still listed at $369,900
• Assessments of $213 a month
• Taxes of $6614
• Central Air
• Washer/Dryer in the unit
• Outdoor parking included
• Bedroom #1: 10×14
• Bedroom #2: 9×13
• Bedroom #3: 9×12
• Sunroom: 13×7

This 2-bedroom duplex up loft in the Clocktower Lofts at 2300 W. Wabansia in Bucktown has been on the market since September 2012.

It has some unique features.

It has 25 foot timber ceilings and a wall of skylights/windows on the second level that let a ton of light into the unit.

The second floor has a bedroom and a den.

The kitchen has granite counter tops and white appliances.

There’s exposed brick and hardwood floors.

The loft has central air, washer/dryer in the unit, parking and a 15×5 deck off the living room.

It’s listed at just $9,000 above the 2004 purchase price.

Are some Bucktown prices stuck in 2004?

Grace Volk at Baird & Warner has the listing. See the pictures here.

Unit #330: 2 bedrooms, 2 baths, 1500 square feet, duplex up

• Sold in March 1997 for $211,000
• Sold in July 2004 for $350,000 (included the parking)
• Originally listed in September 2012 for $349,000
• Raised to $369,000
• Reduced in October 2012  to $359,000 (includes the parking)
• Assessments of $376 a month
• Taxes of $5406
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 13×11 (main floor)
• Den: 11×10 (second floor)

This 2-bedroom at 1600 S. Indiana in the South Loop has been on the market since August 2012.

It is a Fannie Mae Homepath property which can be bought for 3% down.

According to the pictures, the corner unit still has its kitchen and baths intact.

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

I’m not sure I”m understanding that kitchen/living room layout however.

Both bedrooms have windows and there are hardwood floors in the living areas.

There is central air, washer/dryer in the unit and parking is included.

The buyer is, however, responsible for past assessments of $1916.

The unit has been reduced $24,100 since August and is now listed at $289,900.

Is this a deal?

Jason Shapiro at Rising Realty has the listing. See the pictures here.

Unit #1308: 2 bedrooms, 2 baths, 1200 square feet

• Sold in September 2006 for $420,000 (included the parking)
• Lis pendens foreclosure filed in September 2010
• Bank owned in August 2011
• Originally listed in August 2012 for $314,000
• Reduced
• Currently listed at $289,900 (parking included)
• Assessments of $342 a month
• Taxes of $4183
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×11
• Bedroom #2: 10×12

We last chattered about this unique 4-bedroom house in what was a former garage at 1424 W. Ohio in West Town in March 2011.

See our prior chatter here.

Many of you disliked the unique interior decoration but some of you thought it was interesting, even if not to your taste. Remember, the furniture won’t be there when you move in.

Built on a triple lot of 76×126, a tall brick wall stretches across the front of the property.

In the interior, walls of glass are open to the landscaped courtyard.

The 9400 square foot home has 15 foot ceilings, herringbone floors and a 2-story 55 foot grand dining hall.

The kitchen is entirely stainless steel with Traulsen stainless cabinetry.

The bathrooms are Urban Archaeology.

2 of the 4 bedrooms are on the main floor and the other 2 and an office are on the second level.

It has central air with a 2-car garage.

The house has been reduced $225,000 since our last chatter.

But at $2.675 million, it would still be one of the most expensive properties to sell in this neighborhood.

Has the market improved enough to find a buyer near this price point?

Joseph Gasbarra at Coldwell Banker now has the listing. See the pictures here.

1424 W. Ohio: 4 bedrooms, 3 baths, 9400 square feet, 2 car garage

• Sold in January 1998 for $400,000
• Originally listed in February 2011 for $2.9 million
• Was still listed in March 2011 at $2.9 million
• Withdrawn
• Re-listed in September 2012 for $2.675 million
• Currently still listed at $2.675 million
• Taxes now $16963 (they were $16,735 in March 2011)
• Central Air
• Bedroom #1: 25×20 (main level)
• Bedroom #2: 18×13 (main level)
• Bedroom #3: 21×14 (second level)
• Bedroom #4: 21×10 (second level)
• Office: 12×16 (second level)

Tracy Cross & Associates is out with a report on new home sales in Chicago and the Chicagoland area in the third quarter.

While sales appear to be recovering in the suburbs, the city actually saw sales fall 42.5% from last year.

Without annualizing sales and adjusting for seasonality, developers sold 740 homes in the third quarter, up 8.2 percent from 684 sales a year earlier. Only 84 of those sales were in the city, where new-home sales dropped 42.5 percent from the same period last year.

Such an annual gain would be the first since 2005, but the recovery isn’t being felt everywhere. The housing bust all but stopped condominium development downtown, where many urbanites are choosing to rent instead of buy in a city with shiny new apartment towers and a still uncertain condo market.

“The former buyer now becomes the renter in the city,” said Mr. Cross, president of his Schaumburg-based consultancy.

Yet single-family sales have jumped 36 percent on a seasonally adjusted annualized basis over last year in the suburbs, where builders face less competition from the rental market. Sales of suburban condos and townhouses also rose 6 percent in the third quarter.

“People are tired of waiting around, whether buying a new home or downsizing, the buyers we’re serving are ready to move on with their lives,” said Brian Brunhofer, president of Deerfield-based Meritus Homes, which has sold five homes in northwest suburban Long Grove after opening a 20-home development there 90 days ago.

2012 is on track to see 3,221 new home sales, a 11.1% gain from 2011.

While that may sound great, developers sold 33,287 at the peak of the boom in 2005.

We’ve been chattering about the new construction rental high rises all year long.

Is this another sign of a change in how city dwellers view home ownership or would people be buying if there were new townhouses and single family homes actually for sale in the city?

Nearly every development I’ve seen in the city has been condos.

New home sales jump in burbs, sink in city [Crain’s Chicago Business, David Lee Matthews, October 30, 212]

The 3-bedroom condo unit has become quite the commodity as buyers look for larger units they can grow into.

This 3-bedroom unit at 2849 N. Burling in Lakeview has the features buyers look for.

It last sold in 2006 and looks to be an addition on top of an existing vintage 2-flat. I say this because it seems to have extra tall ceilings you would only find in newer construction.

The unit also has a “chef’s kitchen” with stainless steel appliances, granite counter tops and marble baths.

It has the amenities buyers seek out such as central air, washer/dryer in the unit and outdoor deeded parking.

Originally listed in August 2012, it has been reduced $21,000.

It is now listed $44,000 under the 2006 price at $499,000.

Will this 3-bedroom command nearly $500,000?

Millie Rosenbloom at Baird & Warner has the listing. See the pictures here.

Unit #3: 3 bedrooms, 2 baths, 1555 square feet

• Sold in May 2006 for $543,000
• Originally listed in August 2012 for $520,000
• Reduced
• Currently listed at $499,000
• Assessments of $275 a month
• Taxes of $7960
• Central Air
• Washer/Dryer in the unit
• Outdoor parking included
• Bedroom #1: 14×12
• Bedroom #2: 11×10
• Bedroom #3: 9×11

This 4-bedroom arts & crafts vintage bungalow at 6030 N. Kilbourn in the Sauganash neighborhood of Forest Glen came on the market in September 2012.

It has been renovated with all new windows and skylights yet retains many of its vintage features such as stained glass palladian windows.

Built in 1920 on an oversized 40×137 lot, it has a 2 car garage and landscaped yard with paver patio.

The house has a massive 25×23 renovated kitchen with a large island and stainless steel appliances.

3 out of 4 bedrooms are on the second floor with the fourth on the main floor.

There’s also a large family room in the lower level.

It has space pak cooling.

The house is listed at almost double its 2000 price at $949,900.

Who’s the target buyer for this house at this price point?

Patty Cerny at Baird & Warner has the listing. See the pictures here.

6030 N. Kilbourn: 4 bedrooms, 4 baths, no square footage listed, 2 car garage

• Sold in June 1989 for $230,000
• Sold in July 1997 for $325,000
• Sold in November 2000 for $435,000
• Originally listed in September 2012 for $949,900
• Currently still listed at $949,900
• Taxes of $6196
• Space pak cooling
• Bedroom #1: 19×18 (second floor)
• Bedroom #2: 12×12 (second floor)
• Bedroom #3: 18×12 (second floor)
• Bedroom #4: 16×15 (main floor)
• Family room: 28×25 (lower level)
• Kitchen: 25×23

This 3-bedroom duplex down at 1915 W. Crystal in Wicker Park has changed hands two times since 2007 and is now on the market for the third time.

It has the layout we’ve seen in many of these units with one bedroom on the main level and two bedrooms and a family room on the lower level.

It has a “chef’s kitchen” with SubZero and Wolf appliances, granite counter tops and cherry cabinets.

The unit has cherry hardwood floors throughout and 2 outdoor spaces.

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

It last sold just 20 months ago for $575,000.

It is now listed $45,000 above the 2011 purchase price.

Is Wicker Park hot enough, and the inventory low enough, that this property can command a premium?

Christine Sato at Jameson Sotheby’s has the listing. See the pictures here.

Unit #1: 3 bedrooms, 2.5 baths, 2300 square feet, 1 car parking

• Sold in August 2007 for $595,000
• Sold in February 2011 for $575,000
• Originally listed in August 2012 for $620,000
• Still listed at $620,000
• Assessments of $135 a month
• Taxes of $7612
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×13 (main level)
• Bedroom #2: 15×11 (lower level)
• Bedroom #3: 15×10 (lower leve)
• Farmily room: 22×16 (lower level)

We’ve chattered about this vintage 3-bedroom duplex unit in The Eddystone at 421 W. Melrose in East Lakeview several times over the last few years.

See our March 2012 chatter here.

It was recently re-listed with a new agent and a new price.

However, a lis pendens was also recently filed against the unit.

If you recall, the unit has amazing vintage details from wood paneled walls, plaster ceilings, leaded and stained glass, and original moldings.

There is a limestone fireplace and paneled first floor study. The new listing is calling the study a bedroom but a study is a study so I’m calling it a study.

Remember, the kitchen was also recently remodeled. It has maple cabinets, granite counter tops and stainless steel appliances. In previous chatters, most of you felt the kitchen didn’t do the unit justice.

This unit does not have central air and does not have parking (but that is available for lease next door.)

The unit DOES have an in-unit washer/dryer and pets are allowed.

Will this property sell in 2012?

Or will we still be chattering about it a year or two from now?

There are a lot of these types of properties on the market: those that have been on the market seemingly for years.

Just a reminder: This is a condo (not a co-op) so taxes are NOT included in the assessment.

Timothy Salm at Jameson Sotheby’s now has the listing. See the pictures again here.

Unit #14-15C: 3 bedrooms, 4 baths, the new listing says 4,000 square feet, duplex

• Sold in February 1999 for $450,000
• Was listed in November 2008 for $1.89 million
• Reduced
• Withdrawn
• Re-listed in July 2010 for $1.1 million
• Reduced
• Was listed in August 2010 at $999,000
• Reduced
• Was listed in March 2012 at $699,000
• Raised
• Was listed in October 2012 at $729,000
• Lis pendens filed on October 11, 2012
• Taxes now #12,732 (they were $12201 in March 2012)
• Assessments still $2,878 a month (includes heat, electric, gas, doorman, cable)
• No central air- window units only
• Parking is leased next door for $200 a month
• Washer/Dryer now in the unit
• Bedroom #1: 18×13 (second floor)
• Bedroom #2: 16×11 (second floor)
• Bedroom #3: 16×13 (main floor)
• Library: 15×13 (second floor)
• Laundry room: 5×5 (second floor)