Crib Chatter

This 2-bedroom on the 38th floor of The Legacy at 60 E. Monroe across from Millennium Park in the Loop recently came on the market.

Although the listing says it is being used as the model, it is not owned by the developer. It was purchased in February 2010.

It has northeast views of the lake and the park. At 1750 square feet, it also has a den which has a bar with a wine refrigerator.

The unit has all the newer construction finishes including marble baths, cherry floors and the kitchen has stainless steel appliances. It also has central air, in-unit washer/dryer and 1 car parking is included in the price.

It is currently listed $209,500 more than the 2010 purchase price. 

Will it be able to command a premium less than 2 years later?

June Graffy at New Directions Center has the listing. See the pictures here.

Unit #3801: 2 bedrooms, 2.5 baths, 1750 square feet

• Sold in February 2010 for $1,140,500 (included the parking)
• Currently listed for $1,350,000 (includes the parking)
• Assessments of $1,000 a month (includes heat, gas, cable, doorman, clubhouse, exercise room, pool)
• Taxes of $16,477
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 12×14
• Bedroom #2: 11×13
• Den: 10×13

This unique 4-bedroom mansion plus coach house at 602 E. 112th Street in the Pullman Historic District came on the market in September 2011.

At 3781 square feet, it is one of the largest properties in the historic district and is in a prime location, near Arcade Park and across from Greenstone Church.

Built in 1882, it is on a corner lot measuring 50×120 and has a large gated courtyard. I couldn’t find any mention of parking so I don’t think it has a garage.

The main house is apparently 4 bedrooms 2 baths and the coach house is 3 bedrooms and 1 bath (although I can’t be totally sure.)

Some of the original features are still present in the house including wood staircases and pocket doors. It has 3 woodburning fireplaces.I’ve been told the kitchen and baths need to be redone (and there are no pictures of those). There is also no central air.

Originally listed at $349,900 it has been reduced to $299,900.

The Pullman Historic District is one of the rare “triple threats” historic districts with city, state and federal landmark designations. What that means for homeowners is that the exterior as seen from the street must be restored to the architecturally correct state but the side not seen from the street and the interior can be restored as the homeowner sees fit.

Who has the vision to restore this mansion to its former glory?

Gene Biondi at Keller Williams Gold Coast has the listing. See more pictures here.

602 E. 112th Street: 4 bedrooms, 2 baths, 3871 square feet with a 3 bedroom/1 bath coach house

• Sold prior to 1995
• Originally listed in September 2011 for $349,900
• Reduced
• Currently listed for $299,900
• Taxes of $1910
• No central air
• Bedroom #1: 23×17 (second level)
• Bedroom #2: 10×13 (second level)
• Bedroom #3: 13×12 (second level)
• Bedroom #4: 18×13 (third level) 

The market for new downtown condos remains grim.

Crain’s reports that sales fell in the third quarter to 229 sales from 251 a year ago. That was, however, slightly better than the 196 sales recorded in the second quarter of 2011.

Sales were also boosted by dramatic price cuts at the Parkside of Old Town development, where 26 units closed.

We last chattered about this 2-bedroom in a vintage greystone at 1348 W. Wellington in Lakeview in June 2011.

See our prior chatter here.

At that time, it was listed at $399,000 or $73,000 under the purchase price from just 2 years earlier.

5 months later, it is still on the market and the price is still $399,000.

Most of you were more concerned during our last chatter with the differences of buying in a small condo building, like this one with 4 units, versus the highrise with a doorman and a (possibly) easier condo association to deal with. Not many made any guesses about the price.

If you recall, it has some of its vintage features intact including moldings and a floor to ceiling wood mantle surrounding a decorative fireplace.

French doors lead to a full-sized dining room. The kitchen is “newer” with an island, granite counter tops and stainless steel appliances.

The property has 2 outdoor spaces with both a front and back deck. It also has a 9×7 laundry room with a side-by-side washer/dryer.

The unit has central air and parking is included.

What will it take to sell this property in the winter market?

Anne Connolly Rieff at @Properties still has the listing. See the pictures here.

Or you can see it in person at the Open House on Sunday, November 20 at 1:30 to 3:30 PM.

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

• Sold in February 1999 for $276,000
• Sold in July 2002 for $370,000
• Sold in September 2005 for $432,000
• Sold in May 2009 for $472,000
• Was listed in June 2011 for $399,000
• Currently still listed at $399,000
• Assessments of $127 a month
• Taxes of $5564
• Central Air
• Side-by-side Washer/dryer
• Decorative fireplace
• Bedroom #1: 13×11
• Bedroom #2: 10×8
• Den: 10×9
• Laundry room: 9×7
• Dining room: 15×14
• Living room: 18×14
• Kitchen: 13×13

This 3-bedroom single family home at 1911 W. Berenice in North Center recently came on the market.

It might not attract any notice in other neighborhoods but at $545,000 it is a rare single family home listed under $550,000 in the Bell school district.

Built in 1896 on a standard Chicago lot of 25×125, it has 1704 square feet on two levels. There doesn’t appear to be any basement or lower level.

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.

This house is listed $19,500 over the 2004 purchase price.

Will it get the premium simply because there are few properties on the market like it in the neighborhood?

Kevin Sullivan at Coldwell Banker 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
• Currently 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)

This 1-bedroom in Benjamin Marshall’s 1200 N. Lake Shore Drive in the Gold Coast has been on the market for 10 months.

Built in 1912 with 10 full floor apartments, the first two floors of the 12-story building were used for servants (and are now maisonette units) and the top floor for playrooms and extra maid rooms.

The original units had 5 servant rooms in each apartment- including a separate servants corridor. Over the years, they were carved into smaller units. The building is a condo and not a cooperative.

This unit has some of the original vintage features of the era including 10 foot ceilings and original crown and picture frame molding.

This is not your typical 800 square foot 1-bedroom. The corner unit has 1100 square feet which includes a formal entry foyer. The eat-in kitchen has maple cabinets, granite counter tops and white appliances. The listing says the bath is marble.

While it has central air, there is no in-unit washer/dryer and no parking in the building. It is rental only nearby.

The unit is now listed $61,000 under the 2004 price at $269,000.

Unit #605, also a 1/1, is currently on the market for $295,000.

Is this a deal for the building?

Mario Greco at Prudential Rubloff has the listing. See the pictures here.

Unit #405: 1 bedroom, 1 bath, 1100 square feet

• Sold in September 1986 (no price listed)
• Sold in September 1998 for $195,000
• Sold in November 2004 for $330,000
• Originally listed in January 2011 for $395,000 (Mario did NOT have the listing at this time)
• Reduced numerous times
• Currently listed for $269,000
• Assessments of $999 a month (includes heat, doorman)
• Taxes of $6767
• Central Air
• No in-unit washer/dryer
• No parking- leased nearby
• Bedroom: 17×12

This 2-bedroom loft at the Larchmont Lofts at 1801 W. Larchmont in North Center has been on the market since April 2010.

It is now a short sale and is listed $104,000 under the 2007 purchase price.

The loft has 12 foot concrete ceilings with some exposed brick. It is a south facing unit, so it is not facing either the Metra or the El directly.

The kitchen has white cabinets, stainless steel appliances and white counter tops. It has the other features buyers look for including central air, washer/dryer in the unit and secured parking included in the price.

Before you argue the price should be much lower, Unit #211 right underneath it also was recently on the market. The unit was nearly identical, even in finishes, except that the kitchen had granite counter tops.

Unit #211 sold in early October for $265,000 including the parking. You can see the pictures of that loft here if you want to compare.

Does that make #311 a real steal at just $225,000? (And is the buyer of #211 now kicking themselves?)

Robin Miner at @Properties has the listing. See the pictures here.

Unit #311: 2 bedrooms, 2 baths, 1300 square feet

• Sold in August 1996 for $140,000
• Sold in July 1998 for $185,000
• Sold in February 2007 for $317,000
• Originally listed in April 2010 for $329,000
• Reduced numerous times
• Currently a “short sale” at $225,000 (includes the parking)
• Assessment of $273 a month (includes cable)
• Taxes of $5315
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×12
• Bedroom #2: 14×10

This 4-bedroom Victorian at 4112 N. St. Louis in the Irving Park neighborhood has been on the market since August 2011.

It was previously a 3-bedroom house that was bank owned and sold in January 2011 for just $98,000.

You can see a few pictures from the prior bank owned listing here.

Originally built in 1896, it has been rehabbed and is now a 4-bedroom with 4 bathrooms. The master bedroom now has a master bathroom complete with a jacuzzi tub. There is a bathroom on every floor, including in the lower level, which is also where the recreation room is located.

The house has a custom built eat-in kitchen with granite counter tops and stainless steel appliances.

Built on a standard Chicago lot of 25×125, it has a two car garage and 2 decks, with one off the kitchen and one off the second story master bedroom. The house also has central air.

The house has been reduced about $40,000 since it was first listed in August.

I could only find one house in the neighborhood that sold for $400,000 or above  in the last 6 months (and it sold for $400,000.)

Will this house be able to command the $400,000 price tag?

Jonathan Gil at Resurrecting Real Estate has the listing. See the pictures here.

4112 N. St. Louis: 4 bedrooms, 4 baths, 3000 square feet, 2 car garage

• Sold in December 2006 for $299,000
• Sold in December 2007 for $410,000
• Lis pendens filed in August 2009
• Bank owned in August 2010
• Sold in January 2011 for $98,000
• Originally listed in August 2011 for $449,900
• Reduced
• Currently listed for $409,000
• Taxes of $5408
• Central Air
• Bedroom #1: 12×14 (second floor)
• Bedroom #2: 13×12 (second floor)
• Bedroom #3: 9×13 (main floor)
• Bedroom #4: 11×10 (lower level)
• Family room: 9×21 (lower level)

This bank owned 3-bedroom at 1720 S. Michigan in the South Loop has been on the market since March 2011.

In that time, it has been reduced $129,900 to $305,000. That price includes the parking space.

This 3-bedroom unit is the largest floorplan in the building. It has Northeast views from floor to ceiling windows.

From the pictures, it appears the kitchen is intact. It has stainless steel appliances and granite counter tops with maple cabinets. The bathrooms also appear to be intact.

Being a newer construction building, the property also has central air and washer/dryer hook-ups in the unit.

The bank has now owned this property for a year. It is getting more aggressive with the  pricing, having dropped the price about $45,000 in just the last 6 weeks.

It is the cheapest 3-bedroom currently on the market in the building.

How low will this have to go before someone finally bites?

Coya Smith at Smith Partners & Associates has the listing. See the pictures here.

Unit #1501: 3 bedrooms, 2 baths, no square footage listed

• Sold in October 2007 for $422,000 (included the parking space)
• Lis pendens filed in January 2010
• Bank owned in September 2010
• Originally listed in March 2011 for $434,900
• Reduced numerous times
• Currently listed for $305,000 (includes the parking)
• Assessments of $467 a month (includes heat, a/c, doorman)
• Taxes of $5538
• Central Air
• Washer/dryer hook-ups in the unit
• Bedroom #1: 15×11
• Bedroom #2: 10×10
• Bedroom #3: 10×10

This 2-bedroom brick and timber loft in the Arthouse Lofts at 14 N. Sangamon in the West Loop has been on the market since September 2011.

The Arthouse Lofts were converted in 1999, making them among the original condo loft conversions in the neighborhood.

This top floor unit has 14 foot timber ceilings and exposed brick walls. The kitchen has maple cabinets, stainless steel appliances and granite counter tops. It also has a private balcony off what looks to be the front of the loft.

The loft has a washer/dryer in the unit and central air but it appears there is no deeded parking. Although, some of the other lofts for sale in the building appear to have a deeded space in a building across the street.

This loft has been reduced $30,000 in the last 3 months and is now just $13,000 above the very first sale – all the way back in 1999.

Is this a deal at the 1999 price or have prices fallen even lower?

Ryan D’Aprile at D’Aprile Properties has the listing. See the pictures here.

Unit #403: 2 bedrooms, 2 baths, no square footage listed

• Sold in December 1999 for $247,000
• Sold in February 2003 for $264,500
• Sold in April 2004 for $300,000
• Sold in September 2005 for $340,000
• Originally listed in September 2011 for $290,000
• Reduced
• Currently listed at $260,000
• Assessments of $346 a month (includes gas)
• Taxes of $4190
• Central Air
• Washer/Dryer in the unit
• No parking
• Bedroom #1: 14×11
• Bedroom #2: 14×10