Crib Chatter

This 2-bedroom at 1530 S. State in the South Loop has been on the market since September 2011.

It is a Freddie Mac Homesteps property.

The unit has been reduced $45,000 since September and is now listed $8,100 under the 2001 price (which was the original sales price for the unit.)

It’s hard to tell much from the pictures.

Part of the kitchen appears intact and there are black appliances. The listing says it is “freshly painted” and has “new carpet.”

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

Now listed at $249,900, how low will this go?

Gerard Lewis at Better Homes for America has the listing. See the pictures here.

Unit #823: 2 bedrooms, 2 baths, 1289 square feet

• Sold in May 2001 for $258,000 (included the parking)
• Sold in August 2008 for $340,000 (included the parking)
• Lis pendens foreclosure filed in June 2010
• Bank owned in June 2011
• Originally listed in September 2011 for $294,900 (parking included)
• Reduced
• Currently listed at $249,900 (parking included)
• Assessments of $505 a month (includes heat, a/c, gas, doorman, cable)
• Taxes of $3992
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×13
• Bedroom #2: 11×11

We’ve chattered about contemporary buildings in River North and the South Side but not this contemporary building at 3110 N. Greenview in Lakeview.

It is all concrete construction with floor to ceiling windows, front and back balconies, and exposed concrete ceilings.

There are only 2 units per floor.

This southeast facing unit has the finishes of recent construction including granite counter tops and stainless steel appliances in the kitchen.

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

It is listed $96,000 under the 2005 price at $289,000.

However, the other unit on the same floor, Unit #3W, also a 2/2 is under contract as a short sale at $259,900.  It previously sold for $390,000 in 2005. The listing says it is just 950 square feet.

Is a price under $250,000 the new reality for these smaller 2/2s?

Sam Jenkins at Conlon has the listing. See the pictures here.

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

• Sold in July 2005 for $385,000
• Originally listed in September 2011
• Currently listed at $289,000 (parking included)
• Assessment of $229 a month
• Taxes of $5681
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 12×12
• Bedroom #2: 10×10

This top floor 3-bedroom at 2817 N. Orchard on the Lakeview and Lincoln Park border (near the new Trader Joes on Diversey) recently came on the market.

It is a rare 3-bedroom vintage unit that also has 2 full baths (usually they have just 1 bath.)

Some of its vintage features remain including crown molding, an antique fireplace mantle and built-ins in the dining room.

This was a 2007 conversion so it has all the newer finishes.  The kitchen has granite counter tops and stainless steel appliances with newer cherry cabinets.

The unit also has central air, washer/dryer in the unit, a balcony and an outdoor parking space.

It came on the market listed $15,100 under the 2007 price at $429,900.

Will this sell for over $400,000?

Craig Easly at @Properties has the listing. See the pictures here.

Or you can watch the YouTube video here (warning- music!)

Or you can see the unit in person at the Open Houses on Saturday, Dec 3 from 12-3 PM and Sunday, Dec 4 from 12-3 PM.

Unit #3S: 3 bedrooms, 2 baths, 1300 square feet

• Sold in May 2007 for $445,000
• Currently listed for $429,900
• Assessments of $299 a month
• Taxes of $5613
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 12×12
• Bedroom #2: 12×11
• Bedroom #3: 10×9

This 2-bedroom penthouse at 744 W. Fullerton in Lincoln Park has been on and off the market since February 2010.

It is a short sale and was actually under contract last June but came back on the market in October.

There are only 4 pictures of the unit so it’s hard to get a good idea of what it looks like.

The building was constructed in 2007. It has upscale finishes including Viking kitchen appliances and the master bath has a separate shower with Grohe body sprays.

The unit also has a private rooftop terrace with southeast views.

The unit is now listed 38% under the 2007 purchase price of $584,500.

Is this a deal?

Dennis Meunier at Conlon has the listing. See the 4 pictures here.

Unit #504: 2 bedrooms, 2 baths, 1500 square feet

• Sold in October 2007 for $584,500
• Originally listed in February 2010 for $589,900
• Reduced numerous times
• Lis pendens foreclosure filed in January 2011
• Was listed in June 2011 as a “short sale” for $360,000
• Under contract
• Re-listed in October 2011 for $360,000
• Currently still listed at $360,000
• Assessments of $240 a month
• Taxes of $5743
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 11×13
• Bedroom #2: 11×10

We haven’t chattered about The Emerald, the 2-building newer construction mid-rise at 123 and 125 S. Green in the Greektown neighborhood of the West Loop in awhile.

This 2-bedroom corner unit recently came back on the market as a short sale. It had previously been listed in 2008 and 2010.

It is now listed for $85,100 under the 2008 purchase price at $374,900.

The unit has floor to ceiling windows and 11 foot ceilings.

It has all the finishes you would expect from 2008 construction including stainless steel appliances and granite counter tops in the kitchen. It also has bamboo floors.

Parking is included and it has central air and washer/dryer in the unit.

Is this a deal?

Christopher Pagano at Coldwell Banker has the listing. See the pictures here.

Unit #801B: 2 bedrooms, 2 baths, 1250 square feet

• Sold in October 2008 for $460,000 (parking included)
• Originally listed in October 2008 for $494,900
• Withdrawn in December 2008
• Re-listed in September 2010 for $459,000
• Withdrawn in April 2011
• Lis pendens foreclosure filed in September 2011
• Currently listed as a “short sale” for $374,900 (parking included)
• Assessments of $420 a month (includes heat, a/c, doorman)
• Taxes of $5941
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×12
• Bedroom #2: 13×11

This 2-bedroom duplex down loft in the Map Factory Lofts at 5235 N. Ravenswood in Andersonville has been on the market since June 2011.

It’s a short sale and has been reduced from $229,000 to $199,000.

That is $94,000 under the 2008 price.

Built in 1887, the loft has all the features loft lovers look for including high timber ceilings, tons of exposed brick, huge industrial windows and a wood burning fireplace.

A spiral staircase leads down to the 2 bedrooms.

The unit has central air and parking but no in-unit washer/dryer.

The listing says the unit is rented until 2/29/2012 and that the tenant is paying $1400 a month.

Does it make sense to just rent this loft or to own it?

Sandra Kessler at Prudential Rubloff has the listing. See the pictures here.

Unit #20: 2 bedrooms, 1 bath, no square footage listed

• Sold in July 1995 for $121,000
• Sold in June 1997 for $132,000
• Sold in March 2008 for $293,000
• Originally listed as a “short sale” in June 2011 for $229,000
• Reduced several times
• Currently listed as a “short sale” for $199,000 (parking included)
• Assessments of $253 a month
• Taxes of $3988
• Currently rented for $1400 a month
• Central Air
• Bedroom #1: 16×12 (first floor)
• Bedroom #2: 10×10 (first floor)

This 4-bedroom penthouse at 530 N. Lake Shore Drive in Streeterville has been on the market since June 2010.

At 3400 square feet, it is just slightly bigger than the 4-bedroom vintage unit we recently chattered about in 3500 N. Lake Shore Drive.

See our prior chatter on the vintage unit here.

Everyone was appalled at the $2700 a month assessments on the vintage unit.

But what’s the real cost of living in a huge apartment in the sky?

This was the closest comparison I could find that was newer construction with similar square footage and bedrooms.

530 N. Lake Shore Drive was built in 2003.

3500 N. Lake Shore Drive was built in 1926.

Both are doormen building.

This penthouse, however, has 2 oversized wrap-around terraces with North, South and West views.

It also has custom mahogany paneling, a 300 bottle wine cave, upscale kitchen appliances like SubZero and 10 foot ceilings.

The unit has central air, washer/dryer in the unit and 2-car parking is included.

What about those assessments?

$1691 a month for a building that is only 8 years old.

This penthouse has been reduced $404,000 in the last year and a half.

Kimberly Gleeson at Koenig & Strey Real Living has the listing. See the pictures here.

Unit #2900: 4 bedrooms, 3.5 baths, 3400 square feet, 2 car parking

• Sold in July 2004 for $1,500,500
• Originally listed in June 2010 for $2,499,000
• Reduced
• Currently listed at $2,095,000
• Assessments of $1691 a month (includes heat, a/c, gas, doorman, cable, exercise room, clubhouse)
• Taxes of $18996
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×16
• Bedroom #2: 21×13
• Bedroom #3: 14×12
• Bedroom #4: 14×12

This brick 3-flat plus coach house at 2327 N. Southport in Lincoln Park has been on the market since June 2011.

In that time, it has been under contract once and has been reduced $125,000 to just $520,000.

Built in 1886 on a 24×124 lot, the building still has some of its vintage features such as the original cast iron tubs and built-in hutches.

The units are as follows:

• Unit #1: 1 bedroom, 1 bath and rents for $900 a month
• Unit #2: 1 bedroom, 1 bath and rents for $940 a month
• Unit #3: 1 bedroom, 1 bath and rents for $940 a month
• Unit #4: 1 bedroom, 1 bath and rents for $840 a month

Tenants pay separate electric and gas. There is no parking.

The taxes are $24,442 which the listing says are currently being appealed.

With income of $43,400 a year, does this building make sense as an investment at this price given its location near DePaul?

What about as a possible single family home conversion?

Oleg Trifonov at Coldwell Banker has the listing. See the pictures here.

2327 N. Southport: 3-flat plus coach house

• I couldn’t find an original sales price
• Originally listed in June 2011 for $645,000
• Reduced several times
• Under contract once
• Currently listed at $520,000
• Taxes of $24,442
• No mention of central air
• No parking

We last chattered about this 4-bedroom vintage co-op at 3500 N. Lake Shore Drive in Lakeview in May 2009.

See our prior chatter here.

It sold for just $293,000 in 2008. In May 2009, the unit had just come back on the market after a major rehab and was listed for $849,900. You can see the “before” and “after” pictures in the prior post.

Most of you thought the rehab was nice but that the unit might have been priced too high despite the sale of Unit #8C, which had also been renovated, in February 2008 for $915,000.

2 1/2 years later, the unit is still on the market and has now been reduced about $350,000 to just $499,000.

Yes, the assessment is now $2733 a month.  That includes heat, gas, doorman, and cable. The listing states that is only $0.78/ft per month.

Parking is available next door for $250 to $275 per month.

If you recall, the unit has been completely restored. It now has a new kitchen with limestone countertops, custom cabinets, SubZero, Wolf and Kitchen Aid appliances. The butler’s pantry was renovated with mahogany countertops.

The third bathroom is new but the other two were left intact with new lighting and reglazed tubs and tiles.

The entire apartment was re-wired with 150 amp electrical. A washer/dryer was installed along with the space pac cooling system.

The millwork was replaced and all the walls skim coated.

Additionally, the common foyer outside the door got new millwork and marble flooring.

Is this now a deal?

Steve Acoba at Keller Williams still has the listing. See the property website with floorplan here.

Unit #2C: 4 bedrooms, 3 baths, 3500 square feet

• I couldn’t find an original price
• Was listed in May 2008 for $315,000
• Sold in August 2008 for $293,000 (per Redfin)
• Originally listed in May 2009 at $849,900
• Withdrawn
• Re-listed in April 2010 for $660,000
• Reduced
• Currently listed at $499,000
• Assessments of $2733 a month (was $2309 a month in May 2009)- includes heat, gas, doorman, cable
• Taxes of $5718 (was $7896 in May 2009)
• Co-op
• Now has space pac
• Now has in-unit washer/dryer
• Rental parking for $250 to $275 a month
• Bedroom #1: 23×13
• Bedroom #2: 19×12
• Bedroom #3: 19×13
• Bedroom #4: 16×9

This 2-bedroom cottage at 3911 N. Hermitage in Lakeview was listed in October 2011 and went under contract before I had a chance to even do a post about it (within a month of the listing.)

Listed at just $339,000, it’s in the highly coveted Blaine school district.

It seems like a no brainer at the list price.

What’s the catch?

There is no parking and little outdoor space as the house is on a 25×49 lot. The 2-bedrooms are also split with the master on the second floor and the second bedroom, at just 10×8, on the main level.

There is, however, an unfinished basement and the house does have central air.

Was this an example of pricing it “right” for a quick sell?

How much does parking matter in this location and price point?

Scott Zelkin at @Properties has the listing. See the pictures here.

3911 N. Hermitage: 2 bedrooms, 2 baths, no square footage listed

• Sold in March 1989 (no price listed)
• Sold in April 1995 for $115,000
• Sold in October 2003 for $275,000
• Originally listed inmid-October 2011 for $339,000
• Under contract by mid-November 2011
• Taxes of $5950
• Central Air
• No parking
• Unfinished basement
• Bedroom #1: 29×12 (second floor)
• Bedroom #2: 10×8 (main floor)
• Living room: 13×12
• Dining room: 14×11
• Kitchen: 11×9
• Den: 15×6