Crib Chatter

This 4-bedroom single family home at 2054 N. Humboldt Boulevard in Logan Square recently came on the market.

Built in 1912 it is on a larger than standard Chicago lot of 40×164. The lot is so big it has a rare side driveway from the street that leads to a 2-car brick garage.

The house has a lot of its original woodwork including crown molding.

The kitchen appears to have granite counter tops and upscale appliances like Wolf, Bosch and SubZero.

The house has 4 bedrooms on the second floor (but the listing does state that one of them doesn’t have a closet.)

There is a finished lower level.

The house has central air.

It is listed just $17,000 above the 2004 price.

Is this house priced to sell?

Edward Jelinek at Coldwell Banker has the listing. See the pictures here.

2054 N. Humboldt: 4 bedrooms, 3 baths, no square footage listed, 2 car garage

• Sold in July 2004 for $860,000
• Originally listed in May 2012 for $879,000
• Currently still listed at $879,000
• Taxes aren’t listed
• Central Air
• Bedroom #1: 22×14 (second floor)
• Bedroom #2: 13×12 (second floor)
• Bedroom #3: 10×9 (second floor)
• Bedroom #4: 9×9 (second floor)
• Family room: 29×12 (lower level)

We continue to see an improvement in the sales numbers this spring compared to 2011.

From the Illinois Association of Realtors:

In the city of Chicago, May 2012 home sales (single family and condominiums) totaled 2,037, up 19.6 percent from 1,703 homes sold in May 2011. The city of Chicago median home sale price for May 2012 was $203,000, up 6.8 percent compared to May 2011 when it was $190,000.

For as “good” as everyone thinks the market is, sales were still under the tax incentive juiced May 2010 number.

Sales data from the last five years:

• May 2008: 2119 sales
• May 2009: 1557 sales
• May 2010: 2057 sales
• May 2011: 1705 sales
• May 2012: 2037 sales

Median price data over the last five years:

• May 2008: $319,500
• May 2009: $225,000
• May 2010: $230,000
• May 2011: $190,000
• May 2012: $203,000

“First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now,” said REALTOR® Bob Floss, president of the Chicago Association of REALTORS® and managing broker-owner of Bob Floss and Son Realty. “With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”

59 out of 100 counties showed median price increases in the month.

“For the first time since the recession began, median house prices are increasing on an annual basis and are forecast to continue this trend through the end of the summer,” noted Dr. Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. “The weaker than expected job figures for the last few months appear not to have affected the housing market; inventories are down, sales volumes are up and the pending sales index is at its highest point since 2008.”

Does the data now confirm that 2011 was, indeed, the bottom?

May home sales in Illinois up 22.1 percent from a year ago; Chicago area ends 49 months of median price decreases [Illinois Association of Realtors, Press Release, June 21, 2012]

Starting today, CribChatter will be on vacation for a week.

Those of you who have been around awhile know the drill.

That means there will be just one post a day (sorry!).

And I expect you all to play nice with each other while I’m gone so I don’t have to drag myself off the beach to delete any crazy rants. I WILL be monitoring what you say (ah- technology these days. No one can get off the grid completely any more.)

Otherwise, feel free to send me tips on the contact page or at my e-mail on properties you think are cool and interesting while I’m gone. I’ll get to your e-mails as soon as I get back. 

We’ll resume our normal schedule on Thursday June 28.

Have a lovely week everyone!

Sabrina

This 3-bedroom single family home at 3721 N. Racine in Lakeview has been on the market since February 2012.

It’s a short sale and has been reduced about $100,000 to $500,000 in that time.

Built in 1904 on a smaller than standard lot of 25×58, it has 1-car parking which appears to be a pull-in onto the yard (according to the Redfin agents’ comments.)

It has upscale finishes in the kitchen and bathrooms including white Brookhaven cabinets and white carrera marble counter tops in the kitchen. There are flat panel televisions in both the kitchen and bathrooms.

All 3 bedrooms are on the second floor and there is a partially finished basement with a wine cellar.

It is currently listed $255,000 under the 2007 purchase price.

But it is still listed $8,000 above the 2005 price.

Will a price around $500,000 get this sold?

Colin Hebson at Dream Town Realty has the listing. See the pictures here.

3721 N. Racine: 3 bedrooms, 3 baths, no square footage listed, 1 car parking

• Sold in May 1994 for $208,000
• Sold in June 1997 for $251,000
• Sold in August 1998 for $284,000
• Sold in December 1999 for $339,000
• Sold in July 2005 for $492,000
• Sold in June 2007 for $755,000
• Listed in February 2012 for $599,900
• Lis pendens filed in June 2012
• Reduced
• Currently listed as a “short sale” at $500,000
• Taxes of $11,083
• Central Air
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 11×8 (second floor)
• Bedroom #3: 9×9 (second floor)

We’ve chattered about this 5-bedroom single family home at 3625 N. Springfield in The Villa neighborhood of Irving Park several times before.

See our December 2011 chatter here.

Originally listed at $1.2 million, we chattered about whether a house could really sell for over a million in The Villa which is filled with smaller bungalow homes.

This house is actually on an oversized lot measuring 105×120.

Back in December, some of you thought this wouldn’t sell for much over $700,000. Homedelete thought it’d go back to the 1999 price.

If you recall, the Villa is a landmark historic district established in 1907 just north of Addison and east of Pulaski in Irving Park.

It is distinctive for its architecture, its wide lot sizes, and medians running down the middle of two of the streets- Harding and Avers.

The neighborhood has 126 homes and a very active community organization.

With this house, there is a large deck and above ground pool as well as a 2-car garage.

The eat-in kitchen has stainless steel appliances and maple cabinets.

Three of the five bedrooms are on the second floor with the fourth on the third floor and the fifth in the lower level.

There is central air and a fireplace.

Is this getting close to the correct list price now?

Read more about The Villa neighborhood here.

Kieran Conlon at Conlon still has the listing. See the pictures here.

• Sold in June 1999 for $535,000
• Was listed in September 2011 for $1.199 million
• Reduced
• Was listed in December 2011 for $1.050 million
• Reduced
• Currently listed at $899,900
• Taxes of $9917
• Central Air
• Above ground pool
• Bedroom #1: 17×15 (second floor)
• Bedroom #2: 12×13 (second floor)
• Bedroom #3: 14×11 (second floor)
• Bedroom #4: 42×19 (third floor)
• Bedroom #5: 13×12 (lower level)

This 2-bedroom on the 91st floor of the John Hancock Center at 175 E. Delaware in the Gold Coast has been on the market since August 2011.

In that time it has been reduced $205,000 and is now listed at $995,000.

The south facing unit was a 3-bedroom but has been opened up to a more expansive 2-bedroom measuring 1752 square feet.

The unit has a modern kitchen with Italian Pelini cabinets and Miele and Gaggenau appliances.

It has 13 foot ceilings and maple wood floors.

Is this a deal compared with other similarly tall buildings for this square footage?

Pat Cohen at Baird & Warner has the listing. See the pictures here.

Unit #9108: 2 bedrooms, 2.5 baths, 1752 square feet

• Sold in October 1994 for $390,000
• Sold in October 2001 for $560,000
• Originally listed in August 2011 for $1.2 million
• Reduced several times
• Currently listed at $995,000
• Assessments of $1567 a month (includes cable, doorman, pool)
• Taxes of $9615
• Parking available for rent between $300 and $335 a month
• Wall units for cooling
• No in-unit washer/dryer (but the building now allows it)
• Bedroom #1: 17×12
• Bedroom #2: 10×17

This 31st floor 2-bedroom with city views in the Olympia Center at 161 E. Chicago in Streeterville first came on the market in February 2011.

Since that time it has been reduced 21%.

This is no small 2-bedroom. It has 1853 square feet with a split bedroom floorplan which includes an actual entrance foyer.

The kitchen has granite counter tops and stainless steel appliances.

Built in 1985, the Olympia Center is a full service building with an indoor pool with city views. It has leased parking.

This unit has the other features buyers look for including washer/dryer in the unit and central air.

Now listed $175,000 under the 2005 purchase price, is this a deal at just $625,000?

Tricia Fox at @Properties has the listing. See the pictures here.

Unit #31C: 2 bedrooms, 2.5 baths, 1853 square feet

• Sold in July 1997 for $482,000
• Sold in June 2002 for $446,500
• Sold in August 2005 for $800,000
• Originally listed in February 2011 at $799,000
• Reduced
• Currently listed at $625,000
• Assessments of $1054 a month (includes a/c, doorman, cable, pool)
• Taxes of $9074
• Central Air
• Washer/Dryer in the unit
• Leased parking
• Bedroom #1: 16×16
• Bedroom #2: 11×18

This 3-bedroom vintage rowhouse at 19 S. Oakley in the far West Loop came on the market in February 2012.

It was previously bank owned in 2008 when it sold “as-is” for just $125,000.

The listing says it has all new kitchen and baths. The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.

Built in 1879 on a 22×120 lot, it has 11 foot ceilings.

The rowhouse also has a 1-car garage and central air.

All 3 bedrooms are on the second floor.

It also has an unfinished basement.

The listing says it will be right next to the new development of Pete’s Fresh Market. There is also a Walgreens just around the corner.

There is another renovated rowhouse at 2249 W. Warren Boulevard (just up the street) which is listed at $425,000. See those pictures here.

Will this rowhouse fetch in the $400,000s in this location?

Quin O’Brien at 4 Sale Realty has the listing. See the pictures here.

19 S. Oakley: 3 bedrooms, 2.5 baths, 2304 square feet, 1 car garage

• Sold in March 2006 for $377,500
• Sold in August 2006 for $700,000
• Bank owned by July 2008
• Sold in November 2008 for $125,000
• Originally listed in February 2012 for $439,000
• Currently still listed at $439,000
• Taxes of $4698
• Central Air
• Bedroom #1: 15×21 (second floor)
• Bedroom #2: 12×15 (second floor)
• Bedroom #3: 14×9 (second floor)
• Family room: 13×15 (main level)
• Unfinished basement

We’ve chattered about other units in this collection of midrise buildings at 333 W. Belden in East Lincoln Park before.

At 3000 square feet, this duplex up has more space than many single family homes or newer duplex downs.

3 of the 4 bedrooms are on the second level and it has one outdoor space.

The listing says “this penthouse screams potential.”

It last sold all the way back in 1986.

Since January 2011, it has been reduced about 19% to $749,000.

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

Given the prices of many smaller duplex downs (most not even in prime East Lincoln Park), is this now a deal?

Or are buyers just not willing to consider anything that isn’t “new”?

Kevin Kelly at @Properties has the listing. See the pictures here.

Unit #3: 4 bedrooms, 2.5 baths, 3000 square feet, duplex up, 1 car parking

• Sold in February 1986 (I couldn’t locate a price)
• Originally listed in January 2011 at $929,000
• Reduced numerous times
• Currently listed at $749,000
• Assessments of $973 a month (includes cable)
• Taxes of $10,684
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 17×17 (second floor)
• Bedroom #2: 16×12 (second floor)
• Bedroom #3: 13×10 (second floor)
• Bedroom #4: 11×11 (main floor)

First off, the picture sucks (I know!). I didn’t realize how bad it was until hours later but by then I was in another neighborhood so we’re stuck with it for now.

But if you’re looking for unique, this original Chicago firehouse at 1357 N. Wolcott in Wicker Park is it.

The 2-flat has exposed brick and timber with the original hardwood floors.

The building also has the original beamed ceiling.

The two units are as follows:

1. Unit #1: 1/1 rented for $1850 a month. Has C/A and in-unit washer/dryer
2. Unit #2: 3/2 rented for $2550 a month. Has C/A and in-unit washer/dryer

There is a two car garage and a rooftop deck.

The listing says it was built in 1800 (but since the city wasn’t even founded yet- that seems doubtful). It is on a 26×69 lot.

The listing also says that “20% down & the rent positive cash flows. Note low taxes.”

Does this building make sense as an investment?

Laura Topp at Koenig & Strey Real Living has the listing. See the pictures here.

1357 N. Wolcott: 2-flat, 4 bedrooms, 3 baths, 2 car garage, no square footage listed

• Sold in June 1989 for $155,000
• Sold in January 1994 for $242,000
• Sold in May 1994 for $208,000
• Sold in May 1999 for $300,000
• Currently listed for $789,000
• Taxes of $7748
• Unit #1 rented for $1850 a month
• Unit #2: rented for $2550 a month