Crib Chatter

We last chattered about this 4-bedroom Victorian at 11216 S. Oakley in Morgan Park a year ago, in September 2011.

See our prior chatter here.

Most of you liked this neighborhood but were concerned about the maintenance on an older home on a large lot.

Since our last chatter, the house has been reduced $50,000.

If you remember, this house is among the older homes in the city.

Built in 1878, it has a massive 100×213 lot (almost half an acre) that includes a gazebo and above ground pool.

The house also has a front porch and a screened side porch.

The kitchen is updated with cherry cabinets, granite and stainless steel appliances.

The full bath has white Italian marble and a rain shower bath.

The listing says that there is updated electric and plumbing.

The house also has an unfinished basement, central air and a 1-car garage.

The home is located just a few blocks from Morgan Park Academy, which is a K-12 private school routinely cited as one of the best private schools in the state.

The house also has a good commuter location, as it is also just a few short blocks to the Morgan Park metra stop for a quick trip downtown.

This is the first time it’s been on the market in 25 years.

Now that it’s priced less than $400,000, is this a deal?

Sandra Bianciotto at Prudential Biros has the listing. See more pictures here.

11216 S. Oakley: 4 bedrooms, 1.5 baths, 2500 square feet, 1 car garage

• Sold in September 1987 (no price given)
• Originally listed in July 2011 for $449,900
• Reduced
• Currently listed at $399,900
• Taxes are now $5944 (they were $5422 in September 2011)
• Central Air
• Above ground pool
• Bedroom #1: 20×14 (second floor)
• Bedroom #2: 18×14 (second floor)
• Bedroom #3: 15×13 (second floor)
• Bedroom #4: 15×9 (second floor)

This 2-bedroom at 653 W. Buckingham in Lakeview came on the market in July 2012.

But it had last sold just over two years ago in April 2010.

It has a lot of its vintage features including dark wood window frames, a wood fireplace mantel, beamed ceilings and a built-in hutch in the dining room.

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

It also has a marble bath.

The unit not only has 2-bedrooms but also a 12×11 den.

It has in-unit washer/dryer and a parking space but no central air (window units only.)

If you like outdoor spaces, it has both front and back balconies.

Since July it has been reduced $10,000 and is now listed $1,000 under the 2010 price.

Is this going back to the 2002 price?

Colleen Bansley at Conlon has the listing. See the pictures here.

Unit #1: 2 bedrooms, 1 bath, 1500 square feet, den

• Sold in January 1989 for $130,500
• Sold in March 1992 for $152,500
• Sold in May 1995 for $158,000
• Sold in February 2002 for $290,000
• Sold in April 2010 for $330,000
• Originally listed in July 2012 for $339,000
• Reduced
• Currently listed for $329,000
• Assessments of $255 a month
• Taxes of $4947
• No central air
• In-unit washer/dryer
• Parking space included
• Bedroom #1: 13×10
• Bedroom #2: 12×9
• Dining room: 15×12
• Den: 12×11

We last chattered about this 3-bedroom penthouse in 200 W. Grand in River North in July 2012.

See our prior chatter here.

The pictures in the listing in July did not seem to be professionally taken which many of you discussed.

But I’m pleased to report that there appear to be new pictures on the listing (taken by VHT.)

Whew!

The unit is owned by a relocation company (we haven’t seen much of that in the past 5 years.)

It has 11 foot ceilings and 3 balconies.

The unit has north, east and west views.

There are cherry floors throughout and the kitchen has upgraded appliances like SubZero and Meile along with granite counter tops.

The current listing, however, does have another change to it compared to our last chatter.

It will now give a $17,616 “buyer incentive” to cover 1 year of assessments.

Do offers to cover a year (or two) of assessments sway you? 

Pamela Sullivan at Coldwell Banker still has the listing. See the current listing pictures here.

Unit #2602: 3 bedrooms, 2 baths, 2200 square feet

• Sold in June 2007 for $1.265 million
• Originally listed in May 2012 for $1.035 million
• Reduced
• Now relo owned
• Was listed in July 2012 at $875,000 (includes 2 parking spaces)
• Reduced
• Currently listed at $825,000 (2 parking spaces included)
• Assessments of $1468 a month (includes doorman, cable)
• Taxes of $6992
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 19×12
• Bedroom #2: 13×13
• Bedroom #3: 12×8

Burling is an interesting street north of Diversey as it has many vintage buildings yet few people venture down it. It lasts just one block.

But this top floor 2-bedroom at 2900 N. Burling is within just a few blocks of Trader Joes, the movie theater and all the shops and restaurants of East Lakeview and East Lincoln Park.

The El is just a few blocks away.

This unit has many of its vintage features including built-ins and a fireplace. It also has a big front balcony that overlooks the tree lined street.

The listing says it has an “updated” kitchen with maple cabinets, quartz counter tops and stainless steel appliances.

It has everything that buyers look for including central air, in-unit washer/dryer and garage parking.

The unit is listed just $15,000 more than the 2003 price.

Is this priced to sell?

Sarah Coulter at @Properties has the listing. See the pictures here.

Unit #3N: 2 bedrooms, 1 bath, 1500 square feet, 1 car garage parking

• Sold in July 1995 for $211,500
• Sold in July 1999 for $266,500
• Sold in October 2003 for $350,000
• Currently listed at $365,000
• Assessments of $275 a month
• Taxes of $5745
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×12
• Bedroom #2: 12×11
• Dining room: 16×12

As most of the preliminary data has already shown, August sales in Chicago jumped another 23.6% year over year. The median price was also ticked higher.

From the Illinois Association of Realtors:

The city of Chicago saw a 23.6 percent year-over-year increase in home sales in August 2012 with 2,209 sales, up from 1,787 in August 2011. The condo market in the city of Chicago continued to show robust sales increases, with a 35.9 percent increase from the 1,027 sales in Augsut 2011 to the 1,396 in August 2012. The city of Chicago median home sale price for August 2012 was $200,000, up 3.9 percent compared to August 2011 when it was $192,500.

The city of Chicago has seen 14,280 homes sold through August 2012, versus 11,992 sold through the same period in 2011.

Here is the data for the last 5 years:

• August 2007: 2923 sales
• August 2008: 2078 sales
• August 2009: 1927 sales
• August 2010: 1486 sales
• August 2011: 1787 sales
• August 2012: 2209 sales

Median home prices over the last 5 years:

• August 2007: $305,000
• August 2008: $297,500
• August 2009: $229,900
• August 2010: $200,000
• August 2011: $192,500
• August 2012: $200,000

Chicago condo sales for August:

• 2007: 2,246 sales
• 2008: 1489 sales
• 2009: 1,239 sales
• 2010: 876 sales
• 2011: 1052 sales
• 2012: 1396 sales

“Continued signs of a turn-around are a reality in Chicago, as homes are selling and prices are stabilizing,” said REALTOR® Zeke Morris, president of the Chicago Association of REALTORS® and Operating Principal and Managing Broker, Keller Williams Realty, CCG. “We will, however, continue to monitor the city’s condo market, as pricing seems to lag by comparison to the single-family homes. The health of the condo market relies on many factors, among them, the viability of individual condo associations, which often can make or break a deal, with negative repercussions for buyers seeking financing.”

The foreclosure pipeline appears to be clearing- even if it’s slowly.

Dr. Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois, said among trends emerging in August was how foreclosed properties are beginning to work through the court system. He said the data suggest foreclosure resolutions delayed until February as federal and state governments and banks worked out a settlement over mortgage lending irregularities are now “clearing the market more rapidly than new additions.”

“The August data show that it will take less than three years to clear the active inventory, a further indication that the backlogs are declining since in April it would have taken 3.28 years to clear the market,” Hewings said.

Is the “lag” in the condo market just another indicator that condos will be out of favor for buyers in the near future?

Will these year over year sales gains continue this fall – as inventory remains tight?

August home sales in Illinois up 23.7 percent from a year ago; Statewide median price at $147,000 [Illinois Association of Realtors, Press Release, September 19, 2012]

We last chattered about this 4-bedroom Prairie style house with the front porch swing at 1310 W. Glenlake in Edgewater Glen in July 2012.

See our prior chatter here.

Back then, the house was listed at $729,000 and the Chatterati was nearly unanimous that it was overpriced.

Way overpriced.

Most said that anything over $700,000 would be dreaming. Heck, $650,000 would be a great price. Some said $600,000 would get it done.

The house just sold in 3 months for $697,900.

That’s $32,900 over the 2007 price.

If you remember, the house was built in 1916 on a 31×124.6 lot.

It had the features buyers look for including 3 bedrooms on one level, central air and a garage (only a 1 car garage however.)

The listing said there are new Marvin windows.

The kitchen had cherry cabinets, granite and stainless steel appliances.

This house was just a a block and a half from the Granville red line stop.

Is the Edgewater Glen market hotter than many of you had originally thought?

Or is lack of inventory keeping prices elevated in the neighborhood?

Alley Ballard at @Properties had the listing.

1310 W. Glenlake: 4 bedrooms, 2 baths, 3200 square feet, 1 car garage

• Sold in January 1995 for $235,000
• Sold in August 2007 for $665,000
• Was listed in July 2012 at $729,000
• Sold on September 13, 2012 for $697,900
• Taxes of $8301
• Central Air
• Bedroom #1: 21×12 (second floor)
• Bedroom #2: 13×10 (second floor)
• Bedroom #3: 13×10 (second floor)
• Bedroom #4: 15×14 (third floor)
• Family room: 14×12 (lower level)

This 2-bedroom in the historic Brewster at 2800 N. Pine Grove in East Lakeview recently came on the market.

It is a short sale.

Owners in this building are extremely loyal, with many living in the building for years (sometimes decades).

The Brewster was built in 1896 as a luxury apartment building and it has internll iron staircases, cat walks and a huge skylight.

Not only did Charlie Chaplin live in one of the penthouses in 1915-1916, but several movies were filmed in the building including the Untouchables and Child’s Play.

This unit is one of the ones in the turret.

It has an updated bath and a kitchen with 42 inch cabinets, granite counter tops and white appliances.

There are parquet floors in the living room, exposed brick and a decorative fireplace.

The two bedrooms have carpet.

There is no parking, no central air (wall units only) and no in-unit washer/dryers.

But that hasn’t stopped sales in the building. This 2-bedroom is the only unit currently available. The building is also in a prime East Lakeview location.

This unit is listed $85,000 under the 2007 price.

Is this a deal?

Laura Meier at @Properties has the listing. See the pictures here.

Unit #2K: 2 bedrooms, 1 bath, no square footage listed

• Sold in February 1989 for $54,000
• Sold in June 1994 for $75,000
• Sold in April 1997 for $91,000
• Sold in July 2007 for $265,000
• Currently listed as a “short sale” for $180,000
• Assessments of $366 a month
• Taxes of $3309
• No central air- wall units only
• No in-unit washer/dryer
• No parking (rental in the neighborhood)
• Bedroom #1: 12×11
• Bedroom #2: 12×11

This 5-bedroom house at 3912 N. Lowell in Old Irving Park came on the market in March 2012.

But before that it was on the market from 2008 until it sold in February 2012.

I’m confused by this listing. I took a picture of this house all the way back in November 2010.

One old listing I ran across indicated the house was built in 1901 but the listing calls it a “well built new home”. The current listing says “be the first to live in this airy, bright, hip and graceful, well-built spacious, new and historical home….”

Is this a rehab of a vintage house?

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

Three of the 5 bedrooms are on the second floor with the fourth on the third and the fifth in the basement. There is also a large 27×20 recreation room in the basement.

It is built on an oversized 50×144 lot and has a 3 car garage.

This house has been reduced $100,000 to $1.049 million since it came on the market in March 2012.

Can Old Irving Park still command million dollar prices?

Cynthia Brick at R.E. Broker Associate has the listing. See the pictures here.

3912 N. Lowell: 5 bedrooms, 4.5 baths, 4600 square feet, 3 car garage

• Sold in April 1992 for $200,000
• Originally listed in November 2008 for $1.299 million
• Reduced to $1.25 million by August 2010
• Sold in February 2012 for $800,000
• Re-listed in March 2012 for $1.149 million
• Reduced
• Currently listed at $1.049 million
• Taxes of $3781
• Central Air
• Bedroom #1: 16×16 (second floor)
• Bedroom #2: 13×18 (second floor)
• Bedroom #3: 11×17 (second floor)
• Bedroom #4: 16×15 (third floor)
• Bedroom #5: 10×9 (lower level)

We chattered about this 3-bedroom duplex penthouse at 1715 W. Ohio in West Town several times in the last 3 years.

See our August 2011 chatter here.

If you recall, the unit is no ordinary top floor unit. At 6000-square feet, it was the real deal with a massive 1700 square foot deck with downtown views and a fire pit.

In the 2009 chatter, when the unit was listed for about $2 million, most of you thought they’d be lucky to get a million.

3 years later, the unit finally sold as a short sale for $1.125 million.

If you recall, the 3-bedroom duplex had 14 to 17 foot high ceilings and a private high speed elevator which opened into the unit.

The 30×20 master suite was on the second floor and had a fireplace.

The other two main floor bedrooms weren’t too shabby on space either at 29×21 and 20×13.

The kitchen was “gourmet” with an oversized Brazilian granite island and SubZero and Miele appliances.

Did someone get a steal?

Chaz Walters at Coldwell Banker still had the listing once again. You can still see the pictures here.

Unit #PH: 3 bedrooms, 3.5 baths, 6000 square feet, 2 car garage, duplex

• Sold in August 2004 for $1.2 million
• Was listed in May 2009 for $1,999,000
• Reduced
• Was listed in November 2009 at $1.799 million
• Under contract
• Withdrawn
• Re-listed in May 2011 at $1.73 million
• Was still listed in August 2011 at $1.73 million
• Reduced several times
• Sold in August 2012 as a “short sale” for $1.125 million
• Assessments are $900 a month
• Taxes are $15,000
• Central Air
• Washer/Dryer in the unit
• 1700 square foot deck
• Bedroom #1: 30×20 (second floor)
• Bedroom #2: 29×21 (main floor)
• Bedroom #3: 20×13 (main floor)
• Media room: 15×16 (main floor)

This 2-bedroom vintage rowhouse at 639 W. Surf in East Lakeview recently came on the market.

It is bank owned.

Built in 1886, it still has some of its vintage interior features including 2 fireplaces, with one being in the master bedroom, and door and window moldings.

From the pictures, the kitchen appears to be intact and has stainless steel appliances and granite counter tops.

The master bathroom, also pictured, appears to be at least partially intact (there’s only one picture of the tub and shower.)

The listing says the lower level is finished and that there could be a third bedroom down there.

It has central air and a one-car garage. The lot size isn’t listed.

It’s a corner rowhouse though, as it’s at the end of a line of about 6 to 8 historic rowhouses on this street. There’s an alley on one side as you can see in the picture below.

The rowhouse last sold in 1999 for $655,000.

It has come back on the market, listed by the bank, at $699,000.

What’s the market for a 2-bedroom rowhouse at this price point in this neighborhood?

Jadranka Signoretto at Atlas Realty Group has the listing. See the pictures here.

639 W. Surf: 2 bedrooms, 3 baths, no square footage listed, 1 car garage

• Sold in April 1998 for $570,000
• Sold in August 1999 for $655,000 (per Redfin)
• Lis pendens foreclosure filed in July 2011
• Bank owned in July 2012
• Currently listed for $699,000
• Taxes of $11,583
• Central Air
• 2 fireplaces
• Bedroom #1: 21×19 (second floor)
• Bedroom #2: 12×11 (second floor)
• Family room: 19×15 (lower level)