Crib Chatter

This 4-bedroom single family home at 579 W. Hawthorne in Lakeview is located on the landmarked “Hawthorne Place District” which consists of a block of single family mansions on large lots.

Here’s more from the Lakeview East Chamber of Commerce:

Hawthorne Place is one of the few streets along the city’s north shore that was developed for-and has largely retained-large residences on large lots. After a shoreline drive began to be constructed in the 1890s, the McConnell brothers created large lots to attract buyers who wanted proximity to downtown but with larger yards than typically found in the city. Both brothers built their own homes on the street and set the tone for subsequent development, which includes works by such architects as Burnham & Root and Pond & Pond. The openness of the district makes it an oasis between the density of the Broadway retail district and the high-rises along Lake Shore Drive.

Built in 1924, this all brick home is on a double lot measuring 50×130 and also has a rare front garage with a coveted 4-car parking arrangement.

However, it appears that none of the vintage features of the house’s interior remain. The listing says it had a “2011 renovation.”

The house now has a more modern open layout.

The kitchen has white cabinets and stone counter tops along with luxury appliances by Wolf and SubZero.

Originally listed for $3.2 million in March 2011, it has been reduced to $2.995 million.

What will it take to sell this property?

Timothy Sheahan at Conlon has the listing. See the pictures here.

579 W. Hawthorne: 4 bedrooms, 3.5 baths, 5000 square feet, 2 car garage

• Sold in May 1988 for $530,000
• Sold in January 2006 for $2.224 million
• Originally listed in March 2011 for $3.25 million
• Reduced
• Currently listed at $2.995 million
• Taxes of $8449
• Central Air
• Bedroom #1: 18×21 (second floor)
• Bedroom #2: 15×12 (second floor)
• Bedroom #3: 14×11 (second floor)
• Bedroom #4: 14×11 (second floor)

We last chattered about this 5-bedroom landmark greystone at 2823 N. Pine Grove in Lakeview in August 2011.

See our prior chatter here.

No surprise, but back in August some of you felt like the list price was too high. You felt you would need to get it much cheaper in order to do the full renovation work it required.

Listed in August at $850,000 it recently sold for $750,000.

If you recall, this greystone was built in 1891 on an extended 22×197 lot.

The listing (and the assessor) said it had a 2-car garage.

The house had 11-foot high ceilings and some of its vintage features.

There were two fireplaces.

4 of the 5 bedrooms are on the second floor with the 5th on the third.

The listing said to “bring your architect” so you can “build your dream home” but there was a new roof.

Robert John Anderson at Baird & Warner had the listing. You can still see the interior pictures here.

2823 N. Pine Grove: 5 bedrooms, 3 baths, 3200 square feet, 2 car garage

• I couldn’t find a prior sales price
• Was listed in August 2011 for $850,000
• Sold in November 2011 for $750,000
• Taxes of $15,895
• No central air
• 2 fireplaces, including one in the master bedroom
• Bedroom #1: 21×17 (second floor)
• Bedroom #2: 12×12 (second floor)
• Bedroom #3: 12×12 (second floor)
• Bedroom #4: 12×12 (second floor)
• Bedroom #5: 16×14 (third floor)

We first chattered about the Chess Lofts at 320 E. 21st in the South Loop in June 2008 when the loft conversion building had just started closings.

At that time, the flippers were active (remember them?) and “all offers considered” was the name of the game.

See the June 2008 chatter here.

Then, we chattered about the building in March 2010 when the developer had slashed prices on remaining units. At that time, just 71 units out of 119 had sold.

See the March 2010 chatter here.

Flash forward nearly two more years and now distress properties are popping up such as this 2-bedroom unit on the 5th floor.

The loft has exposed brick and large windows.

From the pictures, it appears the kitchen and bathrooms are intact. The kitchen has stainless steel appliances.

It also has central air, a washer/dryer hook-up in the unit and parking is included.

The listing paints some warnings however.  It says it is “cash only.” The building apparently also has “low owner ratio, low HOA reserves.”

Taxes are also “NOT CONFIRMED” and “records are not updated beyond 2008.”

I had trouble locating any information from the public records on this unit. I can’t even tell if it’s bank owned- but given the date stamp on the pictures and that it’s being sold “as-is”- I’m assuming it is.

Two 1-bedroom units, also distress sales, are currently under contract in the building.

This loft originally sold for $389,500 in 2008 and is now listed for $120,500.

Will an investment in this building pay off somewhere down the road?

Timothy Blomquist at Key Realty has the listing. See the pictures here.

Unit #510: 2 bedrooms, 2 baths, 1200 square feet

• Sold in April 2008 for $389,500
• I can’t tell from the public records if it is bank owned or not
• Being sold “as-is”
• Originally listed in November 2011 for $159,900
• Reduced
• Currently listed for $120,500
• Assessments of $407 a month
• Taxes of $3493 (“not confirmed”)
• Central air
• Washer/Dryer hook-up in the unit
• Bedroom #1: 11×12
• Bedroom #2: 12×12

This 3-bedroom duplex up penthouse at 603 N. Paulina in West Town has been on and off the market for the last 3 1/2 years.

It is now a short sale.

The living room has 24-foot ceilings. The unit has 2 balconies with southeast city views and roof rights.

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

2 of the bedrooms are on the main level with the third bedroom on the second level.

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

At what price will this property ultimately find a new buyer?

Nadiya Yakovenko at Golden Globe Group International has the listing. See the pictures here.

Unit #3S: 3 bedrooms, 2 baths, 1850 square feet, duplex up

• Sold in April 2001 for $383,500
• Sold in January 2006 for $450,000
• Originally listed in June 2008 for $549,900
• Reduced many times
• Withdrawn and re-listed many times
• Lis pendens foreclosure filed in June 2010
• Currently a “short sale” at $349,000 (includes the parking)
• Assessments of $275 a month
• Taxes of $5710
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 11×12 (main floor)
• Bedroom #3: 11×12 (main floor)

It’s been awhile since we chattered about Domain, the loft building at 900 N. Kingsbury in River North.

This west facing 2-bedroom recently had a price reduction.

It has been on the market since March 2011 and is now listed about $90,000 under the 2002 purchase price (including the parking space, which the listing says must be sold with the unit.)

It is NOT a short sale.

The loft has concrete ceilings and exposed brick. It faces west and has a large 22-foot covered terrace.

The kitchen has granite counter tops and stainless steel appliances.

The property has all the features you’d expect from this era of construction including central air and washer/dryer in the unit.

Is this a deal?

I actually discovered that I don’t have any good pictures of this building.

Here is one of the office part of the building on Kingsbury and Chicago.

Here is one of 845 N. Kingsbury. You can see the building to the left.

Clearly- I need to get some decent pictures of this massive building. But you get the idea.

Tod Pratt at Koenig & Strey Real Living has the listing. See the (much better) pictures here.

Unit #812: 2 bedrooms, 2 baths, no square footage listed

• Sold in July 2002 for $400,000 (included one parking spot)
• Originally listed in March 2011 for $360,000
• Reduced numerous times
• Currently listed for $289,900 (plus $20,000 extra for parking)
• Assessments of $668 a month (includes heat, a/c, gas, doorman, cable)
• Taxes of $4417
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 21×11
• Bedroom #2: 11×10

We have been talking about foreclosures in The Sterling at 345 N. LaSalle in River North since I started Crib Chatter in 2007.

In March 2008, Crain’s actually ran an article describing The Sterling as the top foreclosure building in Chicago.

See our prior chatter on that article here.

But nearly 4 years later, the foreclosures keep coming.

The latest is a 2-bedroom on the 17th floor on the curve of the building.

It appears to have the kitchen and bathrooms intact. It also looks like there have been some upgrades in the kitchen, at least with the granite counter tops. There are white appliances.

The living space, including the bedrooms, appears to have carpet.

Listed at $256,000, this appears to be in line with what other 2/2s have sold for in the recent past in the building.

Because this building was one of the first to have massive distress sales, does this give it a leg up on other River North buildings?

Basically- first to crash, first to recover?

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

Unit #1706: 2 bedrooms, 2 baths, no square footage listed

• Sold in December 2002 for $445,000
• Lis pendens foreclosure filed in December 2010
• Bank owned in September 2011
• It is a Homepath property- with just 3% down required
• Currently listed for $256,000
• Assessments of $538 a month (includes heat, cable, doorman)
• Taxes of $4156
• Central Air
• Washer/Dryer
• Parking is only rental in the building
• Bedroom #1: 16×11
• Bedroom #2: 12×10

We chattered about this 3-bedroom ground floor unit at 3400 N. Lake Shore Drive in Lakeview several times way back in 2008 and 2009.

See our May 2009 chatter here.

The unit is unique in that it was part of the original lobby for the building.

It has 13 foot wood beamed arched ceilings and an oversized wood mantle and fireplace.

There is a “renovated kitchen” with granite counter tops and stainless steel appliances.

The unit has central air and an actual laundry room. I’m not sure about the parking. The listing says there is parking on-site.

The property is now listed $56,000 under the 2006 purchase price.

Back in 2009, Russ thought it would sell for around $500,000. How much has the market changed since then? It is now listed at $529,000.

Brad Lippitz at Prudential Rubloff now has the listing. See the pictures here.

Unit #GB: 3 bedrooms, 3 baths, 2500 square feet

• Sold in March 1999 for $302,000
• Sold in May 2001 for $459,000
• Sold in September 2006 for $585,000
• Was listed in October 2008 for $696,000 (parking included)
• Reduced a few times
• Was listed in May 2009 at $629,000
• Withdrawn in December 2009
• Re-listed in September 2011 for $529,000
• Currently still $529,000
• Assessments of $1433 a month (includes heat, doorman, cable)
• Taxes of $11,561
• Central Air
• Laundry in the unit
• Parking included
• Bedroom #1: 12×17
• Bedroom #2: 14×11
• Bedroom #3: 14×11

We recently chattered about a 4-bedroom vintage home in Edison Park listed at $399,000 on 6569 N. Onarga but just a few blocks west, over the border in Park Ridge, sits this vintage 4-bedroom home at 410 W. Belle Plaine listed for $378,500.

It was built in 1889 and is on an irregular corner lot measuring 58x89x93x100. It has a 2-car attached garage but no central air.

Like the Edison Park house, it also has had a second floor addition with a master suite. All 4 bedrooms are on the second floor.

The kitchen hasn’t been updated, however, and has white cabinets and counter tops and black appliances.

Like the Edison Park house, the Metra is apparently nearby as the listing says the house is just “3 – 4 blocks to town/train/shopping”.

This house obviously has Park Ridge schools.

The listing says you can buy it for just $13,247 down as it is FHA approved.

Is Park Ridge now the better buy than the Northwest neighborhoods of Chicago?

John Forsythe at Coldwell Banker has the listing. See the pictures here.

410 W. Belle Plaine: 4 bedrooms, 3 baths, 2375 square feet, 2 car garage

• Sold in December 2004 for $370,000
• Originally listed in July 2011 for $395,000
• Reduced in September 2011 to $378,500
• Currently still listed at $378,500
• Taxes of $2191
• No central air
• Bedroom #1: 17×15 (second floor)
• Bedroom #2: 13×13 (second floor)
• Bedroom #3: 13×9 (second floor)
• Bedroom #4: 11×10 (second floor)

This 4-bedroom single family home at 6569 N. Onarga in Edison Park came on the market just before Thanksgiving.

The listing says “Opportunity knocks for sweat equity.”

Built in 1922, the house is on an oversized 45×125 lot, has a 2-car garage and central air.

The listing says a second story addition was added in 2006/2007.

The house now has a master suite with a master bathroom with a glass block shower.

The listing says there is a “new kitchen” with granite counter tops but the refrigerator is missing (although the dishwasher  is still intact.)

This property is located just a few blocks from the Edison Park Metra stop. The listing says the school is Ebinger.

Is $400,000 still the going rate for Edison Park single family homes that need “sweat equity”?

Ilisa Farrell at Coldwell Banker has the listing. See the pictures here.

6569 N. Onarga: 4 bedrooms, 3.5 baths, 2369 square feet, 2 car garage

• Sold in November 1995 for $135,000
• Originally listed in November 2009 for $399,000
• Currently still listed at $399,000
• Taxes of $5208
• Central Air
• Bedroom #1: 20×15 (second floor)
• Bedroom #2: 10×9 (second floor)
• Bedroom #3: 14×10 (second floor)
• Bedroom #4: 13×10 (second floor)
• Recreation room: 23×13 (basement)

We last chattered about this 3-bedroom at 550 W. Wellington in Lakeview in June 2011.

See our prior chatter here.

Back then, I asked if this unit, which has been on and off the market since 2007 would finally sell in 2011.

With just a few weeks left in the year, it’s not looking good.

Listed for $724,900 in June, it has been reduced to $674,900.

That is $135,100 under the 2006 purchase price.

The midrise building has only 2-units per floor.

The unit has upgraded finishes including Italian wood floors.

The kitchen has Bulthaup cabinets, granite counter tops and stainless steel appliances.

The 2002 square foot unit also has a balcony and a heated garage space.

It has all the other amenities buyers are looking for including central air and washer/dryer in the unit.

Is this finally getting closer to a realistic price?

Linda Lee at Century 21 McMullen still has the listing. See the pictures here.

Unit #4E: 3 bedrooms, 2 baths, 2002 square feet

• Sold in November 2006 for $800,000
• Originally listed in February 2007 for $864,900
• Reduced
• Was listed in June 2011 at $724,900
• Reduced
• Currently listed at $674,900
• Assessments of $475 a month
• Taxes of $11054
• Central Air
• Washer/Dryer in the unit
• Heated garage parking included
• Bedroom #1: 17×12
• Bedroom #2: 14×12
• Bedroom #3: 16×10