Crib Chatter

This 3-bedroom penthouse in Erie on the Park at 510 W. Erie in River North came on the market in October 2023.

Built in 2002, Erie on the Park has 118 units and attached garage parking.

It’s a full amenity building with 24/7 door staff, remodeled gym, storage and on-site maintenance.

The listing says this penthouse has been gut rehabbed and is only one of two units on the 24th floor.

It has floor to ceiling windows with “views for miles.”

The unit has white oak wide plank hardwood floors throughout.

It has a Chef’s kitchen with custom oak cabinets and designer quartz countertops and backsplash along with Subzero, Wolf and Miele appliances.

The unit has a “new” primary suite with a custom wood walk-in-closet with built-ins and an en suite bathroom with a steam shower, dual sprays and vanity, Hans Grohe fixtures and a Toto toilet.

A second bedroom is also en suite and has a walk-in-closet.

The unit also has a second family room outside of the third bedroom which has its own entrance and the listing says it can be used as a flex space.

It has two outdoor patios.

The unit has the features buyers look for including central air, washer/dryer in the unit and 2 garage spaces are available for $50,000.

This building is near the Chicago River and the Riverwalk, a dog park, the East Bank Club and the shops and restaurants of west River North.

Listed in October 2023 for $1.5 million, it is still listed at that price.

Will the renovation get the sale done on this penthouse?

Christine Egley-Rashkow and Rebecca Snyder at Jameson Sotheby’s have the listing. See the pictures here. (sorry, no floor plan)

Unit #2402: 3 bedrooms, 3.5 baths, 2500 square feet, penthouse

• Sold in February 2003 for $1.057 million
• Sold in July 2007 for $1.15 million (per Redfin)
• Sold in January 2015 for $1.29 million
• Originally listed in October 2023 for $1.5 million
• Currently still listed at $1.5 million
• Assessments of $2727 a month (includes heat, a/c, gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $22,840
• Central Air
• Washer/dryer in the unit
• 2 car garage parking for $50,000
• Bedroom #1: 16×12
• Bedroom #2: 14×12
• Bedroom #3: 20×14
• Living room: 20×15
• Dining room: 14×12
• Kitchen: 16×9
• Family room: 23×14
• 2 patios

This 6-bedroom Italianate row house at 1928 N. Lincoln in East Lincoln Park originally came on the market in November 2022.

We have chattered about it twice, with the last chatter in January 2023. It was originally listed as a single family home but is now listed as a 2-flat.

You can see our chatter here.

Built in 1875, the listing says it was built by Andrew McNally with large blocks of Joliet limestone. The prior listing from last year says that they used limestone because of the Great Chicago Fire in 1871. It also said that just 3 families had lived in the house until the prior sale.

It’s on a corner lot measuring 25×100 and has a 1-car garage.

You may recall, the row house has some of its vintage features including the grand staircase with the original wood restored and 12 foot ceilings.

The main unit is a 4 bedroom, 2.5 bath duplex up and the second unit is a 2 bedroom, 1 bath in the lower level.

The duplex has plaster walls and picture moldings.

The main kitchen has gray cabinets and stainless steel appliances with a breakfast bar that opens into the dining room.

It appears there are two fireplaces in the living/dining room.

There are 4 bedrooms on the second floor floor plan. The primary bedroom has an en suite full bath.

There’s also a second bathroom on that level.

The lower level unit has 2 bedrooms and a full bath. The prior listing said it had been “rehabbed.”

It has a separate entrance, a full kitchen and laundry.

The row house has central air and a wood deck. A prior listing said it had a “California patio.”

Here’s the breakdown for each unit from a prior listing:

• Unit 1: 2 bedrooms, 1 bath, rents on Airbnb for $4,000 a month
• Unit 2: 4 bedrooms, 2.5 baths, rents on Airbnb for $8,000 a month

This row house is near Lincoln Park Zoo, the Green City Market and the shops and restaurants of Old Town.

Listed in November 2022 for  $1.295 million, it has come back on the market, reduced $10,000, at $1.285 million.

It went under contract in January 2023 but was relisted at $1.285 million in April 2023.

The row house is still listed at $1.285 million.

What will it take to sell this property?

Matthew Liss and Blazena Bilic at Mark Allen Realty still have the listing. See the pictures and floor plan here.

1928 N. Lincoln: 6 bedrooms, 3.5 baths, no square footage listed but it had 3309 square feet in the first listing, multi-unit row house

• No prior sales price as prior listing said the same family owned it for 70 years
• Sold in January 2022 for $1.129 million
• Originally listed in November 2022 for $1.295 million
• Withdrawn
• Re-listed in January 2023 for $1.285 million
• Contingent in January 2023
• Re-listed in April 2023 for $1.285 million
• Currently listed for $1.285 million
• Taxes are still $17,943 (they were $21,631 in November 2022)
• Central Air
• 1 (or 2?) wood burning fireplaces
• 1 car garage
• 25×100 lot
• Unit #1: monthly Airbnb rent $4,000 (per prior listing)
• Unit #2: monthly Airbnb rent $8,000 (per prior listing)
• Bedroom #1: 13×12 (third floor)
• Bedroom #2: 14×10 (third floor)
• Bedroom #3: 10×10 (third floor)
• Bedroom #4: 13×11 (third floor)
• Living room: 18×13 (second floor)
• Dining room: 13×12 (second floor)
• Sunroom: 12×8 (second floor)
• Kitchen: 13×7 (second floor)
• LL Bedroom #1: 12×11
• LL Bedroom #2: 11×7
• LL Kitchen: 9×8
• LL Living room: 13×11
• Deck

This 2-bedroom in Jackson Towers at 5555 S. Everett in Hyde Park came on the market in November 2023.

Built in 1922, Jackson Towers has 72 units. It has door staff, a bike room, an on-site manager/engineer, a receiving room and a shared laundry room. There’s no parking.

The listing says this unit has been “newly renovated” and is the “perfect blend of modern and vintage.

“No detail has been overlooked” in this designer finished space. It has new wiring, designer lighting, copper plumbing in the kitchen and bath and new windows.

It has newly refinished hardwood floors.

The unit has some of its vintage features including a foyer, a decorative fireplace in the living room and the crown molding has been restored.

It has views of the Museum of Science and Industry and Jackson Park.

The kitchen is “new” with white Shaker cabinets, glass tile backsplash, quartz countertops, energy efficient stainless steel appliances and a custom banquette in the breakfast nook.

The unit does not have a dining room but in the prior listing, it appears to have been a 1-bedroom with a dining room.

The bathroom has marble flooring and a custom glass shower.

This unit does not have central air, washer/dryer in the unit or parking.

This building is near the shops and restaurants of East Hyde Park, Trader Joe’s, the University of Chicago, the beach and several bus lines and Metra.

Hyde Park was recently named one of the top 40 coolest neighborhoods in the country by Time Out magazine.

This unit sold in 2022 for just $56,000 and has come back on the market renovated at $269,000.

Buyers love “new.”

Will this sell quickly thanks to the renovation?

Barbara Allen at Metru Real Estate has the listing. See the pictures here (sorry, no floor plan).

Unit #E-14: 2 bedrooms, 1 bath, 1400 square feet

• Sold in April 2022 for $56,000
• Currently listed at $269,000
• Assessments of $1379 a month (includes heat, gas, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $2013
• No central air
• No in-unit washer/dryer
• No parking
• Decorative fireplace
• Bedroom #1: 20×12
• Bedroom #2: 13×18
• Foyer: 14×7
• Living room: 24×15
• Kitchen: 19×8

This 3-bedroom in Newberry Plaza at 1030 N. State in the Gold Coast came on the market in September 2023.

Built in 1974, Newberry Plaza has 559 units and attached garage rental parking.

It’s a full amenity building with 24-hour door staff, an exercise room, an outdoor pool, and on-site maintenance and management.

This unit is a combined 2/2 and 1/1 unit into a 3/3 with South and West city views.

It is “custom designed” and has 7.5 inch Nordic Brazilian white oak flooring throughout, custom ambient lighting, and electric shades with blackout in the bedrooms.

The kitchen is a “chef’s dream” with European frameless cabinetry, high-end appliances including Subzero, a Wolf induction oven, a Bosch dishwasher, a Sharp microwave drawer, an Elkay sink and a wine fridge, along with custom quartz countertops and an island with 4 inch thick bevel edge and matching backsplash.

The primary suite is a “true retreat” with a custom built closet and a spa-like bath with heated floors, a floating vanity and toilet and a digitally controlled Kohler shower.

The other two bathrooms also have heated floors and Kohler fixtures.

This unit has the features buyers look for including a full-size washer/dryer, central air and leased garage parking is available.

It does not have a balcony or terrace but there are two storage units on the same floor.

Newberry Plaza is near the shops and restaurants of the Rush Street corridor and is just a few blocks from Michigan Avenue. There are several bus lines and the Red Line subway nearby.

Listed in September 2023 for $1.199 million, it has been reduced to $1.175 million.

Buyers love “new” but are the sharply higher rates now hitting this price point over $1 million?

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

Unit #41LM: 3 bedrooms, 3 baths, no square footage listed

• The two bedroom unit sold in May 1992 for $260,000
• The two bedroom unit sold in September 2022 for $595,000
• Originally listed in September 2023 for $1.199 million
• Reduced
• Currently listed at $1.175 million 
• Assessments of $1278 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $13,156
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×16
• Bedroom #2: 13×11
• Bedroom #3: 11×15
• Living/dining room: 26×22
• Kitchen: 9×18
• Laundry: 5×5

This 3-bedroom tri-level townhome at 3618 N. Lakewood in the Southport neighborhood of Lakeview came on the market in November 2023.

Built in 1995, this complex has 9 townhomes and garage parking. It has a shared deck on top of the garage.

We last chattered about this complex in October 2022 with a 2/2 townhome listed at $547,000. It sold in March 2023 for $530,000.

You can see it here.

The first floor of this townhome has the kitchen, living room and dining room.

The chef’s kitchen has had a “complete remodel” featuring white cabinets with soft close drawers, black honed granite countertops, white subway tile backsplash and top-of-the-line GE and Bosch appliances.

There are 2 bedrooms and one bath on the upper level.

The lower level has a large bonus room which can be used as a home office or third bedroom. There’s also another full bathroom and a laundry room with a sink.

The listing says both bathrooms have been “updated” with marble finishes. There is a jacuzzi tub in one bath and a steam shower in another.

The unit has had “enhancements” which includes contemporary lighting fixtures, custom staircase banisters, custom closets and a new HVAC system.

The deck featured in the listing pictures that is above the garage is shared with one neighbor.

This townhome has the features buyers look for including central air and one garage parking space.

There are also skylights.

It is near the shops and restaurants of Southport and Wrigleyville, near Wrigley Field, several bus routes and subway stops. The listing says it’s in the Blaine school district.

Listed at $580,000, that’s $54,000 above the 2021 purchase price of $526,000.

There are just 279 properties available in all of Lakeview, and of those, just 7 are townhomes.

Will this seller get their price?

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

Unit #F: 3 bedrooms, 2 baths, no square footage listed, tri-level townhome

• Sold in April 1998 for $260,000
• Sold in April 2000 for $320,000
• Sold in October 2017 for $455,000
• Sold in March 2021 for $526,000
• Currently listed at $580,000
• Assessments of $100 a month (includes insurance)
• Taxes of $9183
• Central Air
• Garage parking included
• Bedroom #1: 13×13 (second floor)
• Bedroom #2: 13×10 (second floor)
• Bedroom #3: 14×20 (lower level)
• Living room: 14×14 (main level)
• Dining room: 7×11 (main level)
• Kitchen: 11×12 (main level)
• Laundry room: 14×10 (lower level)

This 2-bedroom in the Silver Tower at 303 W. Ohio in River North came on the market in September 2023.

The Silver Tower was completed in 2009 just as the housing bust hit. It has 229 units and attached garage parking.

The building has on-site management, 24-hour door staff, an engineer, a fitness center, 2 sundecks and a dog run.

This unit is south facing with a private balcony and skyline views, including of the Willis Tower.

It has wide plank hardwood floors throughout.

The kitchen has espresso cabinets, an undermount sink, top of the line Kitchen Aid stainless steel appliances and granite counter tops with a breakfast bar that seats 2.

There’s no dining room.

The primary suite has an en suite bathroom with dual sinks, a glass enclosed shower and a linen closet.

The second bedroom, which the listing also calls a den, is “partially open”, does not have a window, but it does have a closet.

This unit has the features that buyers look for including washer/dryer in the unit, central air, and garage parking is available for $35,000 extra.

This building is near the East Bank Club, parks, the Chicago River, and the shops and restaurants of the western part of River North along with several bus routes and the Brown line train.

Listed in September 2023 for $375,000, plus $35,000 for the parking, or $410,000 total, it was withdrawn and re-listed on October 31, at the same price.

This unit is the cheapest priced 2/2 for sale in the Silver Tower.

With inventory so low, will the seller eventually get their asking price?

Matt Laricy at Americorp has the listing. See the pictures, the floor plan, a 3D tour and a custom drone video tour here.

Or see it at the Open House on Sunday, November 5, 2023, from 10:30 AM to 12 PM.

Unit #2505: 2 bedrooms, 2 baths, 930 square feet

• Sold in January 2010 for $281,000
• Sold in June 2021 for $369,900 per Redfin (CCRD says $335,000 but I don’t think that included the parking)
• Originally listed in September 2023 for $375,000 (plus $35,000 for parking)
• Withdrawn
• Re-listed in October 2023 for $375,000 (plus $35,000 for parking)
• Assessments of $656 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $7485
• Central Air
• Washer/dryer in the unit
• Garage parking is extra
• Bedroom #1: 14×15
• Bedroom #2: 11×10
• Living room: 17×15
• Kitchen: 12×11
• Balcony: 10×5

In September, home sales fell again as rates rose. It was the lowest number of sales since 2011.

From the Illinois Association of Realtors:

The city of Chicago saw a 11.3 percent year-over-year home sales decrease in September 2023 with 1,830 sales, down from 2,064 in September 2022.

The median price of a home in the city of Chicago in September 2023 was $324,450, up 1.4 percent compared to September 2022 when it was $320,000.

September sales for the last 17 years:

• 2007: 2172 sales
• 2008: 1816 sales
• 2009: 1918 sales
• 2010: 1403 sales
• 2011: 1498 sales
• 2012: 1845 sales
• 2013: 2395 sales
• 2014: 2242 sales
• 2015: 2414 sales
• 2016: 2398 sales
• 2017: 2355 sales
• 2018: 2040 sales
• 2019: 2006 sales
• 2020: 2635 sales
• 2021: 2684 sales
• 2022: 2064 sales
• 2023: 1830 sales

Median prices for the last 17 years:

• 2007: $267,750
• 2008: $268,600
• 2009: $225,000
• 2010: $180,000
• 2011: $190,000
• 2012: $188,900
• 2013: $230,000
• 2014: $249,000
• 2015: $250,000
• 2016: $260,000
• 2017: $275,000
• 2018: $285,000
• 2019: $292,250
• 2020: $322,350
• 2021: $320,000
• 2022: $320,000
• 2023: $324,450

“In September, closed sales decreased while days on market remained consistent. The combination of these points shows there is still buyer demand in the market,” said Drussy Hernandez, president of the Chicago Association of REALTORS® and vice president of brokerage services for Coldwell Banker Realty in Chicago.

Both single family homes and condo sales fell double digits. Single family home sales fell 12.8% to 703 while condos declined 10.4% to 1127.

Statewide, inventory plunged again, falling 28.5% to 21,256 from 29,717. For comparison purposes, inventory was 33,676 in September 2021. Average days on the market was 24 days, down from 26 last year.

Chicago inventory also fell 27.9% to 5885 from 8163 last year. For comparison, it was 9478 properties in September 2021. Average days on the market was 30 days, which was the same as last year.

“Prices continued their usual seasonal decline from their peak in June for both Illinois and the Chicago area,” said Dr. Daniel McMillen, professor of real estate and associate dean for faculty affairs at the University of Illinois Chicago College of Business Administration.

“However, they remain much higher than at this time last year. Our forecasts indicate that prices will continue to decline somewhat over the next three months, while remaining higher than at this time last year. The number of sales remains low and is forecast to decline further over the next three months.”

The average 30-year fixed rate mortgage was 7.2% up from 7.07% in August. It was 6.11% in September 2022 and just 2.9% 2 years ago, in September 2021.

The story in Chicago remains the same. Sales are down big again but median price is holding near the highs.

Inventory remains near record low.

Will sales eventually hit the 2010 and 2011 lows over the next several months as those mortgage rates hit 8% or has the sales bottom already been put in?

Illinois home inventory and sales fell in September [Illinois Association of Realtors, Press Release, by Bill Kozar, October 19, 2023]

This 2-bedroom triplex loft at 1140 W. Cornelia in Lakeview came on the market in October 2023.

Built in 1930, this building has 5 units and attached garage parking.

This unit has a private entry and is almost like a maisonette.

It faces south and the first floor has tall ceilings, exposed brick walls, timber ceilings and beams in an open concept living/dining room and kitchen along with a powder room.

The living room has a fireplace.

The kitchen has been “updated” and has white cabinets a large island with bar seating, quartz countertops, stainless steel appliances and a pantry.

The second floor is the primary suite with a “renovated” bath with has separate steam shower and tub and dual sinks.

Also on the second floor is a private south facing deck.

The lower level has the second bedroom which is en suite and a family room. It also has a walk-in-closet with the building’s original safe door.

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

This building is near Wrigley Field, the Alamo Drafthouse movie theater, the shops and restaurants of Wrigleyville and Southport as well as numerous bus lines and the red and brown lines El stops.

Listed at $725,000, that’s $95,000 above the 2016 sales price of $630,000.

Is this triplex loft, with its own entrance, a townhouse alternative?

Scott Curcio from Baird & Warner has the listing. See the pictures and floor plan here.

Unit #B: 2 bedrooms, 2.5 baths, no square footage listed, loft, triplex

• Sold in December 1994 for $273,000
• Sold in August 2007 for $600,000
• Sold in October 2016 for $630,000
• Currently listed at $725,000
• Assessments of $300 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $12,329
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Fireplace
• Bedroom #1: 19×12 (second floor)
• Bedroom #2: 13×10 (lower level)
• Living room: 24×17 (main level)
• Kitchen: 13×9 (main level)
• Dining room: 14×13 (main level)
• Family room: 23×22 (lower level)
• Walk-in-closest: 10×8 (second level)
• Walk-in-closet: 9×8 (lower level)
• Deck: 24×14 (second level)

This 3-bedroom in The Caravel at 635 N. Dearborn in River North came on the market in October 2023 but it has been on, and off, the market since 2018.

The Caravel was built in 2003 and has 126 units and an attached parking garage.

The building has full time door staff and an exercise room.

This unit is a corner unit with a split floor plan.

It has “newer” floors throughout.

The kitchen is “gourmet” and has Scavolini cabinets, granite counter tops and “newer” stainless steel appliances.

There’s an oversized primary suite with a custom fitted closet spanning the entire length of the room plus a walk-in-closet and a huge marble/granite bathroom with a separate whirlpool, shower, water closet and linen closet.

But the biggest feature of this unit is the 1200 square foot private patio which the listing shows the possibility of building a pickleball court on.

This unit has central air, washer/dryer in the unit and 2 car parking is available for $30,000 each.

The Caravel is in the heart of River North, near numerous shops, restaurants, grocery stores and the new temporary Bally’s casino.

Listed at $599,000, that’s $36,000 under the 2016 sales price of $635,000.

Will pickleball dreams make this sale?

Bo Xu at Corcoran has the listing. See the pictures here. Sorry, no floor plan.

Unit #705: 3 bedrooms, 2 baths, 1622 square feet

• Sold in December 2004 for $575,000
• Sold in November 2007 for $651,000
• Sold in January 2016 for $635,000
• Currently listed at $599,000
• Assessments of $1383 a month (includes heat, a/c, gas, doorman, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes of $13,464
• Central Air
• Washer/dryer in the unit
• 2 car parking available for $30,000 each
• Was listed for rent in July 2023 for $5200 a month
• Reduced
• Withdrawn in September 2023 at $4200 a month
• Bedroom #1: 15×13
• Bedroom #2: 14×12
• Bedroom #3: 11×11
• Living room: 16×15
• Kitchen: 8×16
• Dining room: 12×8
• Walk-in-closet: 8×5
• Terrace: 58×26

This 2-bedroom in the Fulton House at 345 N. Canal on the Near West Side recently sold.

Built in 1903, Fulton House was original an old cold storage warehouse.

It was converted to apartments in the 1970s by star architect Harry Weese and then was converted into condos in the 1990s. There are 104 units.  However, it’s also a live-work building where businesses can operate.

It has 24/7 door staff but no garage parking and a common deck overlooking the Chicago River. There is valet parking across the street at the River Bend building. It does not have other amenities like an exercise room.

This unit had a “complete gut” in 2010 and “updates” in 2023.

It has new high end vinyl flooring throughout, new paint, including on the barrel vaulted ceilings, 2 new HVAC wall units with high efficiency pumps, and a Miele washer/dryer circa 2022.

The kitchen has white modern cabinets, stainless steel appliances including a stove hood, a Franke stainless sink, pure white Corian countertops, and an island with a waterfall edge and seating for 3-4.

It has a separate dining room space.

There’s a built-in media center in the living room.

The primary bedroom has custom closets. The second bedroom is fully enclosed and has a window.

There’s only one bath but the listing says “no expense was spared” in the dreamy, spa bath with oversized shower with Jado thermostatic shower system, Grohe fixtures, and Duravit floating vanity, sink, commode and shower pan. It also has a Robern mirror.

This unit has a utility room with storage and an in-unit washer/dryer.

It is a corner unit with south and west facing views with a balcony with river and city views.

There’s no parking with this building but you can pay for valet across the street.

This unit came on the market on October 2, 2023 at $330,000 and recently closed, on October 20, 2023 for $340,000.

Are bidding wars still happening on some properties this fall?

Jennifer Cummings at Jameson Sotheby’s had the listing. See the pictures and floor plan here.

Unit #501: 2 bedrooms, 1 bath, no square footage listed

• Sold in May 1990 for $103,000
• Sold in September 1997 for $114,000
• Sold in October 2019 for $165,000
• Originally listed on October 2, 2023 for $330,000
• Sold on October 20, 2023 for $340,000
• Assessments of $690 a month (includes doorman, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $4105
• No central air. Wall units.
• Washer/dryer in the unit
• Bedroom #1: 12×14
• Bedroom #2: 9×13
• Living room: 13×19
• Dining room: 10×10
• Kitchen: 8×10
• Utility/laundry: 5×8
• Foyer: 3×8
• Balcony: 5×8