Crib Chatter

This 3-bedroom at the Vines of Ravenswood at 3001 W. Wilson in the Ravenswood Manor neighborhood of Albany Park came on the market in August 2011.

That is just over 3 years since it last sold in July of 2008.

The unit has a vintage layout with a full-size dining room as well as a sunroom.

The eat-in kitchen has stainless steel appliances.

While there is a washer/dryer in the unit, there is no central air and no parking.

However, the unit is less than 2 blocks from the Francisco brown line stop.

It has been reduced $10,000 since August 2011 and is now listed for $100 under the 2008 purchase price.

What price will it take to re-sell this unit 3 years later?

Karen Holt at @Properties has the listing. See the pictures here.

Unit #2: 3 bedrooms, 1 bath, no square footage listed

• Sold in March 1995 for $141,000
• Sold in September 1998 for $155,000
• Sold in April 2006 for $255,000
• Sold in July 2008 for $230,000
• Originally listed in August 2011 for $239,900
• Reduced
• Currently listed for $229,900
• Assessments of $479 a month (includes heat and exercise room)
• Taxes of $3294
• Washer/Dryer in the unit
• No central air- window units only
• No parking
• Bedroom #1: 12×10
• Bedroom #2: 11×10
• Bedroom #3: 10×9
• Living room: 16×12
• Dining room: 17×12
• Kitchen: 13×11
• Sunroom: 8×10

This 2-bedroom in the vintage co-op at 3750 N. Lake Shore Drive in Lakeview has been  on the market since April 2011.

It is a short sale and is now listed for just $144,000.

The building was built in 1926 and has the large room sizes and vintage features of its era including hardwood floors and crown molding.

This unit doesn’t have central air or in-unit washer/dryer- but both can be added.

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

Since this is a co-op, the assessment includes taxes and just about everything else including electric, heat, cable, the doorman and the indoor pool and exercise room.

Parking is available for rent next door.

Since April, the unit has been reduced $71,000.

It is now listed at just $88 a square foot.

On a price-per-square footage basis and the location, is this a deal?

Kevin Van Eck at @Properties has the listing. See the pictures here.

Unit #13G: 2 bedrooms, 1.5 baths, 1636 square feet

• I don’t have a prior sales price (since it’s a co-op)
• Originally listed in April 2011 for $215,000
• Reduced numerous times
• Currently listed as a “short sale” for $144,000
• Assessments of $1531 a month (which includes just about everything including the taxes, cable, heat, electric, doorman, pool)
• Taxes of $4922
• No central air- window units
• No in-unit washer/dryer (but can be added)
• Parking available for rent next door for $175 to $275 per month
• Bedroom #1: 19×13
• Bedroom #2: 19×13
• Dining room: 18×14

We last chattered about this 5-bedroom American 4-Square at 1225 W. Pratt in Rogers Park in April 2011.

See our prior chatter here.

Listed at $525,000 in April, it has been reduced another $25,000.

Built in 1903, it has a much sought after double lot measuring 50×139.

However, if you’re a vintage lover, you’re in for some disappointment as none of the original vintage features remain.

The kitchen has been updated with granite counter tops and stainless steel appliances.

4 of the 5 bedrooms are on the second floor with the 5th on the 3rd floor.

The house has a full basement and new HVAC.  

Back in April, several of you wondered why a buyer wouldn’t just buy in Evanston.

Several others thought it was way overpriced and one said that with the way the market was deteriorating in the neighborhood, it might not find a buyer until it was priced in the $300,000s.

What will it take to find a buyer for this property?

Mark Zipperer at Re/Max Edge still has the listing. See more pictures here.

1225 W. Pratt: 5 bedrooms, 2 baths, 2 car garage, no square footage listed

• Sold in June 1997 for $185,000
• Originally listed in August 2009 for $599,000
• Withdrawn in November 2009
• Re-listed in January 2010 for $639,000
• Reduced numerous times
• Was listed in April 2011 at $525,000
• Reduced
• Currently listed at $500,000
• Taxes of $8935
• Partial central air
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 15×11 (second floor)
• Bedroom #3: 14×12 (second floor)
• Bedroom #4: 11×10 (second floor)
• Bedroom #5: 29×17 (third floor)

We last chattered about this bank owned 2-bedroom at Plaza 440 at 440 N. Wabash in River North in July 2011.

See our prior chatter here.

Listed at just $236,000, which included parking, the listing said it was a “multiple offer situation”

Several of you argued that this was indeed a deal at $236,000 because you easily rent it out for over $2000 a month.

The unit sold at the end of August for $31,500 over the list- or $267,500.

If you recall, the unit had white carpeting along with white kitchen and bathrooms.

It did have amenities many buyers are looking for, however, including central air, in-unit washer/dryer and parking.

The building has a pool and a doorman.

Makeda Smith at Royal Service Realty Chicago Metro had the listing. You can still see the pictures here.

Unit #2509: 2 bedrooms, 2 baths, 1120 square feet

• Sold in January 2005 for $463,500 (included the parking)
• Lis pendens filed in December 2008
• No record that it is bank owned but the listing says: “This property is eligible for Freddie Mac First Look Initiative thru 08/04/11?
• Was listed in July 2011 for $236,000 (parking included)
• Sold in August 2011 for $267,500 (parking included)
• Assessments of $568 a month (includes heat, a/c, doorman, pool)
• Taxes of $3858
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×11
• Bedroom #2: 14×11 

This top floor 2-bedroom at 952 W. Altgeld in Lincoln Park just came on the market.

It is bank owned and listed at just $258,500.

There are no pictures in the listing of the kitchen or baths so we don’t know if those are intact.

The unit has central air but there is no mention of washer/dryer in the unit or parking.

However, it is newer construction built in 2006 so I’m assuming there are washer/dryer hook-ups. There also was a garage behind the building but it’s unclear if this particular unit has a space.

There is a parking lot to the east of the building and then the El line tracks next to that.

I couldn’t find an original sales price but there was a mortgage in 2008 for $417,000 so I’m assuming it sold in the $400,000s. As a comparison, Unit #2 below it sold in September 2007 for $446,000.

Is this a deal?

Loretta Pruitt at Betts Realty has the listing. See the pictures here.

Unit #3: 2 bedrooms, 2 baths, 1200 square feet

• I couldn’t find a prior sales price in 2007/2008- but probably in the $400,000s
• Lis pendens foreclosure filed in October 2009
• Bank owned in January 2011
• Currently listed for $258,500
• Assessments of $120 a month
• Taxes of $8113
• Central Air
• No mention of washer/dryer but construction of this vintage would have had it in the unit
• No mention of parking
• Bedroom #1: 14×11
• Bedroom #2: 10×8
• Living room: 14×20
• Kitchen: 11×9

We last chattered about this 2-bedroom single family home at 3745 N. Seminary in Wrigleyville in June 2011.

See our prior chatter here.

Since that time, it has been reduced $74,000.

It is the third cheapest single family home for sale in Lakeview.

If you recall, while it is marketed as a single family home, it appears to be two units as the listing touts the “english garden level in-law apartment.”

It also appears that there is just one bedroom in the “owners” unit and the other bedroom is in the garden in-law apartment.

However there is an unfinished 21×51 attic space which could be converted.

The house was built in 1896.

The backyard sports a brick patio and a 1-car attached garage.

There are hardwood floors in the owners unit and a woodburning fireplace in the family/kitchen area.

The kitchen has white cabinets and appliances.

The house does have central air.

We’ve seen that buyers want “new” and are reluctant to take on any projects.

How low will this go?

Teresa McCauley at CityNet Real Estate still has the listing. See the pictures here.

3745 N. Seminary: 2 bedrooms, 2 baths, 3000 square feet, 1 car garage

• Sold before 1986
• Was listed in June 2011 for $499,000
• Reduced
• Currently listed for $425,000
• Taxes of $9800
• Central Air
• Bedroom #1: 8×20 – main floor
• Bedroom #2: 7×13 – in walk-out basement

In honor of the debut of the new television show called “The Playboy Club” on Monday (which actually is being filmed in Chicago) and that Playboy Magazine has decided to charge 60 cents for its October issue as it did in October 1960, just one year after Hugh Hefner bought the Playboy Mansion – I present to you the “real” mansion at 1340 N. State Parkway in the Gold Coast.

Because with the right amount of cash- you can live here too.

According to Wikipedia, the 70-room French brick and limestone mansion was built in 1899 for Dr. George Swifth Isham.

Hugh moved in in 1959. Apparently the top two floors served as dorms for the bunnies.

Hefner moved to his California mansion full-time in 1974.

This full floor, 7874 square foot second floor unit recently came on the market.

It last changed hands 17 years ago.

The listing says the unit was once the mansion’s ballroom.

It has extensive wood paneling and carvings including beamed and tiled ceilings.

The kitchen has white cabinets and stainless steel appliances.

It has central air, washer/dryer in the unit, a 2-car garage and an attached terrace.

What more could you want?

Katherine Chez at Baird & Warner has the listing. Check out the pictures here.

Unit #2: 4 bedrooms, 5 baths, 7874 square feet, full floor unit, 2 car parking

• Sold in August 1994 for $2.1 million
• Currently listed for $6.7 million
• Assessments of $4717 a month
• Taxes of $80,384
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 17×28
• Bedroom #2: 14×19
• Bedroom #3: 14×14
• Bedroom #4: 14×17

We chattered about this 2-bedroom at 4017 N. Southport in the Graceland West neighborhood of Lakeview several times.

See our July 2011 chatter here.

In July, it had been reduced further and was listed at $205,000 but some of you thought it would sell for around $180,000.

On the market for a year, it finally sold for $108,500 under the 2007 purchase price at $192,500.

Remember, this was NOT a foreclosure or a short sale.

The unit had the features buyers look for including central air, an in-unit washer/dryer and deeded parking.

It also had hardwood floors, french doors and a fireplace.

The kitchen had 42 inch cabinets, granite counter tops and black appliances.

If a 2/1 sold under $200,000 (with parking) what will this mean for all those 1/1s out there?

Stephanie Biderman at Koenig & Strey Real Living had the listing. You can still see the pictures here.

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

• Sold in April 2001 for $240,000
• Sold in October 2007 for $301,000
• Originally listed in September 2010 for $279,000
• Reduced numerous times
• Was listed in May 2011 for $229,000 (includes parking)
• Reduced
• Was listed in July 2011 for $205,000 (includes the parking)
• Sold in September 2011 for $192,500 (included the parking)
• Assessments of $256 a month
• Taxes of $3526
• Central Air
• In-unit washer/dryer
• Bedroom #1: 10×11
• Bedroom #2: 10×11
• Living room: 18×11
• Kitchen: 11×11

The Chicago Tribune is reporting that Rosie O’Donnell is apparently under contract on a house in Lakeview.

Rosie O’Donnell, whose new Chicago-based TV debuts next month, is under contract to buy a 6,000-square-foot home in the Lakeview neighborhood, according to two sources.

The home, which is listed for $2.5 million, is currently owned by a top executive of the Oprah Winfrey Network, or OWN, which will air O’Donnell’s new show, the sources said. The negotiated purchase price is close to that amount, according to a source, who declined to be named because the sale is not final.On Wednesday, O’Donnell told the audience at a test taping of “The Rosie Show,” which premieres Oct. 10, that she was purchasing a home in Wrigleyville. According to an audience member, O’Donnell said the seller agreed to include all of the furniture, or else she wouldn’t have bought it.

There aren’t many houses listed for sale in Lakeview at $2.5 million that are under contract right now- except for one- and it’s in Southport.

The 5-bedroom home was new construction in 2007 and last sold in 2008 for $2.4 million.

Rosie O’Donnell to buy home in Lakeview [Chicago Tribune, Melissa Harris and Bob Goldsborough, September 15, 2011]

Money Magazine is using the quick sale of a 3-bedroom townhouse at 1712 S. Indiana in July in the Kensington Park II development in the South Loop as an example of a sign of a “turnaround” in the real estate market.

It was with some trepidation that Stephanie Kim and her husband, Brendan, 40 and 42, put their Chicago townhouse on the market in June. While the place was in great shape, prices in their city were off 8% from 2010 — and of the 30 similar homes in the area listed the previous year, only nine had sold.

And yet there was an offer on the house almost immediately; the sale closed two months later at just $15,000 under the $650,000 asking price. “We thought it would take a lot longer to sell,” says Stephanie.

Nationwide, the U.S. housing market remains deep in the doldrums and economists expect prices to fall another 5% to 10% in many places. And yet some sellers, like the Kims, are seeing signs of a turnaround.

As buyers return, they’ll naturally grab places with shorter commutes and better schools and amenities.

The Kims’ townhouse, for example, was located in Chicago’s South Loop area, near Lake Michigan and museums. “Buyers are cherry-picking,” says Sharga. You won’t buck the larger market trend entirely, but once things are cranking in your favor, your home will pop first.

The Kims not only sold fast but they sold for $49,000 over the 2005 purchase price.

3-bedroom townhouses have been hot sellers all over the city this summer.

Does this sale really reflect a turnaround in the South Loop market?

When will home prices spring back? [Money Magazine, Sarah Max, September 15, 2011]

Berg Properties had the listing (the seller was an agent, however.) You can still see the interior pictures here.

1712 S. Indiana: 3 bedrooms, 3.5 baths, 2700 square feet, 2 car parking

• Sold in February 2005 for $585,000
• Originally listed in June 2011 for $650,000
• Sold in July 2011 for $634,000
• Assessments of $185 a month
• Taxes of $9664
• Central Air
• Bedroom #1: 15×16 (fourth floor)
• Bedroom #2: 11×13 (third floor)
• Bedroom #3: 11×13 (third floor)
• Family room: 13×14 (main floor)