Crib Chatter

This 6-unit new construction building at 2521 N. Ashland in Lincoln Park went on the market about a month ago.

3 out of the 5 units currently on the market are already under contract.

The 5 units on the market are priced as the following:

• Unit #1N: 4/3 duplex down, $499,900, Under Contract
• Unit #1S: 4/3 duplex down, $499,900, Under Contract
• Unit #2S: 3/2, $379,900
• Unit #2N: 3/2, $379,900
• Unit #3: 3/2 penthouse, rooftop deck, $599,900, Under Contract

Garage parking is included with each unit.

They have white cabinets in the kitchens (white is “in” now), stainless steel appliances and wine coolers.

The kitchen island is a bit different- with a table island attached.

Is this bigger table like island the next big thing in kitchen designs? Is the traditional “island” now out?

There is the usual central air and washer/dryer in the unit.

Several months ago, we talked about a different property about 2 miles north of this location on Ashland. Some of you wondered “who would live on Ashland?”

Are the contracts in this building yet another indication that buyers simply want new? (and that new construction will be “back” in 2012?)

Izabela Sloma at Sergio & Banks has the listing. See the pictures here (they have the same pictures for each of the listings in the building).

[On a side note: I actually looked to see if Joe at YoChicago had made a video of these units as Sergio & Banks is one of his clients. Alas, there isn’t one.]

We’ve chattered about this 3-bedroom at 1550 N. State Parkway in the Gold Coast twice before.

See our August 2011 chatter here.

The last time we chattered about it, it had become a short sale and had gone from a list price of $1.135 million to $675,000.

Many of you though it was a deal at $675,000 even though parking is rental next door.

It was reduced as low as $625,000 by November 2011 before it mysteriously came back on the market just a few days ago listed for $975,000 with no mention of a short sale.

There was a lis pendens filed in May of 2011 however.

If you recall, its address is 1550 N. State Parkway but it actually isn’t located in the high rise portion of the building, but in a two unit adjacent building with its own private courtyard facing State Parkway.

The 1800 square foot unit still has many of its vintage features including inlaid hardwood floors and crown and dentil molding.

It has a Christopher Peacock kitchen with granite counter tops and Subzero, Miele and Bosch appliances.

The baths are Waterworks.

It shares the courtyard with one other unit.

The building has a 24-hour doorman, a guest suite, and a wine cellar.

The unit has central air and in-unit washer/dryer but there is no attached parking. It is valet rental nearby.

What will be the fate of this unit given its pricing history?

Julie Capps at Prudential Rubloff still has the listing. See the pictures here.

Unit #A3: 3 bedrooms, 2 baths, 1800 square feet

• Sold in June 1997 for $335,000
• Sold in April 1999 for $442,000
• Sold in January 2004 for $865,000
• Sold in July 2006 for $950,000
• Originally listed in November 2009 for $1.135 million
• Reduced numerous times
• Was listed in May 2011 for $799,000
• Lis pendens filed in May 2011
• Reduced
• Was listed in August 2011 as a “short sale” for $675,000
• Reduced
• Was listed in November 2011 for $625,000
• Increased
• Currently listed at $975,000
• Assessments of $1947 a month (includes heat, doorman, cable)
• Taxes of $12200
• Central Air
• In-unit washer/dryer
• No parking – rental nearby (even though the listing says 2 parking spots)
• Bedroom #1: 17×14
• Bedroom #2: 14×13
• Bedroom #3: 11×8

This 2-bedroom in the luxury high rise The Pinnacle at 21 E. Huron in River North just came on the market.

It is a short sale and is listed $200,000 under the 2005 price.

The unit is unique in that it has 12 foot floor to ceiling windows in the living/dining room which overlook a 1800 square foot private terrace.

The unit has a split floorplan and is larger, at 1446 square feet, than most 2-bedrooms.

The kitchen has cherry cabinets and granite counter tops. I can’t tell on the appliances- but they look black to me.

It has stone baths and side by side laundry.

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

The listing does say that this unit is on the same floor as the pool (which could be good and/or bad, depending on your point of view.)

At just $550,000, is this a screaming deal for the space, and terrace, in this luxury building?

Kerry Meissner at Coldwell Banker has the listing. See the pictures here.

Unit #707: 2 bedrooms, 2 baths, 1446 square feet

• Sold in February 2005 for $654,500
• Sold in October 2005 for $750,000
• Lis pendens filed in December 2011
• Currently listed as a “short sale” for $550,000 (parking included)
• Assessments of $842 a month (includes a/c, doorman, cable, pool)
• Taxes of $8745
• Central Air
• Side-by-side washer/dryer
• 1800 square foot terrace
• Balcony
• Bedroom #1: 17×12
• Bedroom #2: 12×12

We last chattered about this 2-bedroom duplex loft at Dearborn Tower at 1530 S. State in the South Loop in April 2011.

See our prior chatter here.

At that time it was listed for $734,000 but most of you thought it would sell for around $500,000 given what was going on in the South Loop with pricing.

The loft has now been reduced about $155,000 to $549,900.

If you recall the building first sold units in 2001 so most of the finishes are going on 10 years now.

But the listing for this unit says “second decade ready” as it has been “renovated” and “reconfigured” from a 3-bedroom into a 2 bedroom.

It also has a new kitchen and baths.

Surprise! There are no cherry cabinets or granite to be found in the kitchen.

Instead, you’ll get quartz and Carerra marble counter tops with a mix of contemporary white and maple cabinets alongside stainless steel appliances.

The living room has a wall of 2-story windows along with a 20×7 terrace.

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

Both bedrooms, and a 9×9 laundry room, are on the second level.

Is this getting closer to a realistic price?

Andrea Geller at Coldwell Bankerstill  has the listing. See the pictures here.

Or, given our fantastic “winter” weather, you can see it at the Open House on Sunday January 8 from 2:00 to 4:00 PM.

Unit #1025: 2 bedrooms, 2.5 baths, 2016 square feet

• Sold in July 2001 for $355,500
• Sold in May 2006 for $625,000
• Originally listed in January 2011 for $740,000
• Reduced
• Was listed in April 2011 for $699,000 (parking $35,000 extra)
• Reduced several times
• Currently listed for $549,900 (parking may now be included. The Coldwell listing says it’s included in the price but the Redfin listing still says it’s $35,000)
• Assessments of $644 a month (includes heat, a/c, gas, doorman, cable)
• Taxes of $5470
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 22×13 (second floor)
• Bedroom #2: 13×11 (second floor)
• Laundry room: 9×9 (second floor)
• Terrace: 20×7

This 3-bedroom at 720 W. Gordon Terrace in the Buena Park neighborhood of Uptown has been on the market since October 2011.

It is a Freddie Mac property.

Since October, it has been reduced about $40,000.

While the building was built in the 1970s (although some listings say 1966), this unit was created in 1997 when Units #7B and 7C were combined to form an 1800 square foot 3 bedroom, 3 bath.

The kitchen and at least one bath (from the pictures) are intact. The kitchen has stainless steel appliances.

The unit has central air but I can’t tell about in-unit washer/dryer. The listing claims the unit has a 9×7 “laundry room”. But none of the other listings currently for sale in the building have in-unit washer/dryer.

There is rental parking in the building.

This is a full-service building with a doorman, an exercise room and a pool.

Freddie Mac is offering a 2-year warranty for an owner/occupier.

How low will this go?

Barbara Thouvenell at P.R.S. Associates has the listing. See the pictures here.

Unit #7BC: 3 bedrooms, 3 baths, 1800 square feet

• Unit #7B sold in February 1997 for $40,000. I couldn’t find a sales price on Unit #7C but it was also purchased in 1997.
• Lis pendens foreclosure filed in November 2009
• Freddie Mac owned in April 2011
• Originally listed in October 2011 for $220,000
• Reduced several times
• Currently listed at $179,900
• Assessments of $1122 a month (includes heat, a/c, doorman, cable, pool)
• Taxes of $4033
• Central Air
• Washer/Dryer in the unit???
• Bedroom #1: 15×11
• Bedroom #2: 13×14
• Bedroom #3: 14×11

This 3-bedroom duplex down at 1327 N. Dearborn in the Gold Coast has been on and off the market since November 2008.

In that time, it has been reduced from $1.395 million to $949,000.

But that is still $41,500 above the 2005 purchase price.

Although the building was built in 1896, the unit doesn’t have any of its vintage features.

The listing describes it as “restored” and “neutral.”

The main floor has 12 foot high ceilings and a fireplace.

Instead of hardwood floors, however, it has limestone floors throughout the main floor, including in the two main floor bedrooms.

Two of the three bedrooms are on the main floor, along with a den. The third bedroom is in the lower level along with a family room and a half bath.

There are no pictures of the kitchen or the baths in the listing.

The unit has the other features buyers look for including washer/dryer in the unit, central air and 2 car tandem parking.

Will this unit finally sell in 2012?

And will the sellers get a premium to the 2005 price?

Linda Shaughnessy at Baird & Warner has the listing. See the pictures and floor plan here.

Unit #1: 3 bedrooms, 2.5 baths, 2500 square feet, 2 car tandem parking

• Sold in June 2000 for $795,000
• Sold in April 2005 for $907,500
• Originally listed in November 2008 for $1.395 million
• Reduced numerous times
• Currently listed at $949,000
• Assessments of $600 a month
• Taxes of $11467
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×18 (main level)
• Bedroom #2: 13×12 (main level)
• Bedroom #3: 8×15 (lower level)
• Den: 9×10 (main level)
• Family room: 13×27 (lower level)

This 2-bedroom penthouse loft (is this even a loft???) at 1307 S. Wabash in the South Loop just came on the market.

It has vaulted ceilings and, at 1680 square feet, is not your typical-sized 2-bedroom condo.

The bedrooms have full floor to ceiling walls for added privacy.

This unit has two outdoor spaces: a balcony and what appears to be a roof deck (though I can’t tell for sure if it’s private to the unit and there is NO picture of it in the listing.)

The kitchen has granite counter tops and stainless steel appliances.

The loft came on the market listed at $299,900 which is well under the 2007 purchase price and even $23,600 under the 2000 price (with parking included).

Is this a deal for the square footage?

James Gramata at @Properties has the listing. See the pictures here.

Unit #706: 2 bedrooms, 2 baths, 1680 square feet

• Sold in October 2000 for $358,500
• Sold in June 2007 for $370,000 (included the parking)
• Currently listed for $299,900 (plus $35,000 for tandem parking)= $334,900
• Assessments of $815 a month (includes cable, internet, parking)
• Taxes of $6211
• Central Air
• Washer/Dryer in the unit
• Private roof top deck???
• Bedroom #1: 16×13
• Bedroom #2: 15×13

This 3-bedroom corner unit at 841 W. Monroe in the West Loop near Greektown has been on and off the market for the last 3 years.

In that time period, it has been reduced $79,000.

Obviously, a lot of the properties on the market this time of the year are on the market for a reason and many of them are the ones with the longest market times.

If you like outdoor spaces, then this is the property for you. It has both north and south facing balconies and terraces.

The kitchen has cherry cabinets, granite counter tops and diagonal hardwood floors (Sonies favorite!).

The listing says the bedrooms are fully enclosed.

It also has the features buyers are looking for including central air, washer/dryer in the unit and parking.

This unit is still listed $40,000 above the 2002 purchase price.

Will it have to go back to the 2002 price to finally find a buyer?

Charles Gullett at Best Chicago Properties has the listing. See the pictures here.

Unit #4A: 3 bedrooms, 2 baths, no square footage listed

• Sold in February 2001 for $380,500
• Sold in May 2002 for $435,000 (included one parking space)
• Originally listed in January 2009 for $529,000
• Reduced several times
• Currently listed at $450,000 (parking is $25,000 extra)
• Assessments of $401 a month
• Taxes of $4991
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 17×13
• Bedroom #2: 13×10
• Bedroom #3: 12×9

This 5-bedroom Victorian at 5453 N. Magnolia in the Lakewood Balmoral historic district in Andersonville has been on the market since May 2011.

The listing says it is “not in move-in condition” (although when I walked by over the summer, someone was living in the property and you can see from the picture above that windows are open.)

The listing says it is “ideal for a complete rehab or build new.”

The 2250 square foot house is built on a coveted 48×123 oversized lot.

There are no pictures of the interior of the property but there is a floor plan with the listing.

Since it was first listed in May 2011, it has been reduced $95,000 to $545,000.

Is this a deal for the location?

Connie Atterbury at Dream Town has the listing. See the floorplan here.

5453 N. Magnolia: 5 bedrooms, 2 baths, 2 car parking, 2250 square feet

• Has had the same owners since the mid-1980s
• Originally listed in May 2011 for $640,000
• Reduced
• Currently listed for $545,000
• Taxes of $8374
• No central air
• Bedroom #1: 13×12 (second floor)
• Bedroom #2: 13×12 (second floor)
• Bedroom #3: 11×19 (second floor)
• Bedroom #4: 11×11 (main floor)
• Bedroom #5: 18×23 (third floor)

We last chattered about this 3-bedroom single family home at 1911 W. Berenice in North Center in November 2011.

See our prior chatter here.

I thought this might sell fast because:

1. It was the cheapest single family home in the Bell school district, and
2. It was the cheapest single family home in the Bell school district.

Alas, 2 months later, this house is still on the market and still listed for $545,000 or $20,000 above the 2005 purchase price.

Some of you thought it would sell for around $500,000 simply because of its school district. Others of you didn’t like the location (although the pizza discussion was interesting.)

Built in 1896 on a standard Chicago lot of 25×125, it has 1704 square feet on two levels. There is apparently an unfinished basement.

All 3 bedrooms are on the second level. The house also has an “updated” kitchen with white cabinets and stainless steel appliances. The listing also says there is a new 2-car garage.

The gate in the picture above is for the property next door.

And yes- there are still NO pictures of the bathrooms in the listing (I guess Mr. Sullivan hasn’t been reading Crib Chatter.)

Does this need to go under $500,000 to finally sell?

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

1911 W. Berenice: 3 bedrooms, 1.5 baths, 1704 square feet, 2 car garage

• Sold before 1991 (no price listed)
• Sold in December 2004 for $525,500
• Was listed on November 1, 2011 for $545,000
• Currently still listed for $545,000
• Taxes of $8618
• Space pak air conditioning
• Bedroom #1: 16×14 (second floor)
• Bedroom #2: 12×9 (second floor)
• Bedroom #3: 17×8 (second floor)