Crib Chatter

Thanks to the astute reader who tipped me off to this 2-bedroom in the historic Brewster at 2800 N. Pine Grove in Lakeview which just came back on the market.

We have chattered about this unit several times before because earlier this year it was bank owned.

See our May 2011 chatter here.

It finally sold in April 2011 for $67,000 under the 2007 purchase price at $131,000.

At that time, several of you wondered what the new owner would do with it.

Laura said: “Sounds like they got a good deal, but I know this building, so I know they didn’t. It would take a total rehab of that place to make it look decent, and there’s no way 650sq ft is ever going to be a real two bed apt.”

CH said: “maybe they will rent it out.”

Laura gets the prize on this one as the unit just came back on the market as a “rehab” for $68,500 above the May purchase price.

If you’ll recall from the prior listing, the kitchen and bath were intact.

The kitchen had 42 inch maple cabinets, granite counter tops and some stainless steel appliances (from the old listing pictures, it looks like the refrigerator and microwave were missing.)

The bathroom was also intact with what looked like original tile floor in the bathroom and a white pedastal sink.

The new listing shows a very similar kitchen but with a new backsplash and all the appliances.

There also appears to be some new tile in the bath tub in the bathroom.

In the bedrooms, one of the exposed brick walls appears to have either been painted or drywalled over (as it’s no longer there.)

Everything has been painted.

It still has some brick walls and the window air conditioning units.

There is still no in-unit washer/dryer and there is still no parking.

Will they get near their asking price 2 months and a rehab later?

Joseph Semany at Westward Properties has the listing.

See the pictures of the rehabbed unit here.

You can still see the “before” pictures- when it was bank owned earlier this year- here.

Unit #3B: 2 bedrooms, 1 bath, 650 square feet

• Sold in November 1994 for $80,000
• Sold in July 1997 for $90,000
• Sold in January 2007 for $198,000
• Lis pendens foreclosure filed in December 2009
• Bank owned in October 2010
• Originally listed in December 2010 for $164,900
• Reduced
• Was listed in February 2011 at $129,900
• Sold in April 2011 for $131,000
• Now re-listed as a “rehab” for $199,500
• Assessments of $306 a month
• Taxes of $3431
• No central air- window units only
• No in-unit washer/dryer
• No parking
• Bedroom #1: 13×9
• Bedroom #2: 12×10
• Living room: 15×13
• Kitchen: 11×8

This 3-bedroom duplex down at 20 E. Goethe in the Gold Coast came on the market in June 2011.

At 1600 square feet, it is unusual for the building as 20 E. Goethe is mainly smaller units.

2 of the bedrooms are on the main level with the third on the lower level.

The kitchen of this vintage unit is newer with cherry cabinets, granite counter tops and stainless steel appliances.

It has 2 wood burning fireplaces and french doors.

The unit also has a rare 5×6 laundry room, instead of laundry closet, in the lower level.

There is no central air- only window units.

There is also no deeded parking. It is, however, available to rent in the neighborhood.

The unit is listed $15,000 under the 2007 purchase price.

Is this a deal for a 3/3 in this location?

Stefanie Lavelle at Coldwell Banker has the listing. See the pictures here.

Unit #101: 3 bedrooms, 3 baths, 1600 square feet

• Sold in August 1996 for $73,000 plus $63,000 = $136,000
• Sold in June 1998 for $216,000
• Sold in December 1999 for $260,000
• Sold in September 2003 for $385,000
• Sold in January 2007 for $465,000
• Originally listed in June 2011 for $450,000
• Currently still listed for $450,000
• Assessments of $593 a month (includes heat)
• Taxes of $5096
• No central air (window units)
• In-unit washer/dryer
• No parking
• Bedroom #1: 12×11 (main level)
• Bedroom #2: 12×11 (main level)
• Bedroom #3: 14×15 (lower level)

This 3-bedroom brick bungalow at 4820 N. Tripp in the Mayfair neighborhood of Albany Park has been on the market since January 2011.

(sorry about the picture. I need to clean my car windows!)

In that time it has been reduced $20,100.

It was a foreclosure in 2009 and has since been rehabbed.

The bungalow has been registered with the city’s Historic Bungalow Initative.

The listing says it has a new master bathroom.

The kitchen has cedar finished cabinets and stainless steel appliances.

2 of the bedrooms are on the main floor with the third in the basement along with the family room.

It has some of its vintage features intact such as built-in bookcases.

Built in 1923 on a 30×125 lot, it has central air and a 2-car garage.

Is this a good starter house for this neighborhood?

Mayfair was voted one of the best “old house” neighborhoods in 2010 by This Old House magazine (51 neighborhoods were selected nation wide).

Edward Hester at Dream Town Realty has the listing. See the pictures here.

4820 N. Tripp: 3 bedrooms, 2 baths, 2000 square feet, 2 car garage

• Sold in January 2002 for $211,000
• Sold in October 2006 for $375,000
• Lis pendens filed in September 2007
• Bank owned in October 2008
• Sold in February 2009 for $225,000
• Originally listed in January 2011 for $369,900
• Reduced
• Currently listed at $349,800
• Taxes of $4717
• Central Air
• Bedroom #1: 12×10 (main floor)
• Bedroom #2: 11×10 (main floor)
• Bedroom #3: 15×11 (basement)
• Family room: 21×20 (basement)

We last chattered about this 2-bedroom at 1910 S. State in the South Loop in February 2011.

See our prior chatter here.

At that time, most of you were debating whether or not this address was really “south loop” or whether it was “North Chinatown.”

Listed at that time for $315,000, or $55,000 under the 2004 purchase price, no one had any guesses as to its ultimate sales price.

The unit just sold for $290,500, or $79,500 under the 2004 price.

As you recall, the unique feature about the property was the curved walls in the living room.

It also had 2 balconies.

The kitchen had the usual finishes from this era including stainless steel appliances and granite counter tops.

The unit also had central air, in-unit washer/dryer and parking.

Ron Knoll at Saffron Realty had the listing.

Unit #209: 2 bedrooms, 2 baths, no square footage listed

• Sold in June 2004 for $370,000
• Was listed in February 2011 for $315,000 (parking included)
• Sold in June 2011 for $290,500
• Assessments of $542 a month (includes heat, cable, parking)
• Taxes of $4594
• Central Air
• Washer-Dryer in the unit
• Bedroom #1: 13×13
• Bedroom #2: 11×15
• Living room: 29×21
• Kitchen: 10×10

This 1-bedroom at 535 N. Michigan in Streeterville recently came on the market listed at $89,900.

It is bank owned.

The building is right in the middle of the Mag Mile.

It was constructed in 1962 and has 460 units.

It is a full service building with a pool and exercise room.

As you can see from the pictures, there’s not much left of the property. Both the kitchen and bathroom have been removed.

The living room has hardwood floors however.

While there is central air, there is no in-unit washer/dryer.

There is rental parking in the building.

Given the location, is this a steal at $89,900- even without the kitchen and baths?

Juan Peralta at Panamerican Real Estate has the listing. See the pictures here.

Unit #1605: 1 bedroom, 1 bath, 755 square feet

• Sold in August 1998 for $122,000
• Sold in August 2006 for $215,000
• Lis pendens filed in December 2008
• Bank owned in April 2011
• Listed on July 6, 2011 for $89,900
• Currently still listed at $89,900
• Assessments of $489 a month (includes heat, a/c, doorman, cable, pool)
• Taxes of $2865
• Central Air
• No in-unit washer/dryer
• Parking is rental in the building
• Bedroom: 15×14
• Living room: 22×14

This 2-bedroom just came on the market in the Water Tower Place Condominiums at 180 E. Pearson in the Gold Coast.

Constructed in 1975, with 260 units, the building is still considered one of the premier luxury high rises in the city.

Its most famous resident was Oprah Winfrey.

This 2-bedroom unit sold a year ago for just $620,000.

Now renovated by a “notable designer” – it has new baths, a new kitchen and new floors (?) and is listed for nearly double the 2010 purchase price.

The kitchen has contemporary white cabinets (white is “in”) and stainless steel appliances.

The bathrooms look to be marble and at least one has a built-in television.

Does anyone know what the floors are in the living/dining/kitchen area?

The unit has central air, in-unit washer/dryer and parking is available to rent in the building.

The property is also available furnished so you could just move right in.

Since it is over the Ritz Carlton hotel, residents can use all the amenities of the hotel including maid and room service.

Will this rehabbed unit command double the 2010 price?

Jay Michael at Estate Properties has the listing. See the pictures here.

Unit #3603: 2 bedrooms, 2 baths, 1791 square feet

• Sold in October 1992 for $437,500
• Sold in January 2003 for $770,000
• Sold in June 2010 for $620,000
• Currently listed for $1.195 million
• Assessments of $1339 a month (includes cable, a/c, doorman, pool)
• Taxes of $12202
• Parking is rental between $365 and $510 a month
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×16
• Bedroom #2: 11×15

This 3-bedroom vintage rowhouse at 535 W. Arlington in East Lincoln Park recently came on the market.

It is listed $5,000 under the 2007 purchase price.

It is somewhat unique in that it is on a very long lot measuring 20×175 which allows not only for a large front yard but also one in the back.

The backyard has been landscaped and bricked.

The rowhouse has two other outdoor spaces as well, including a deck off the back of the house and a rooftop deck.

At 3100 square feet, all 3 bedrooms are on the second floor.

The kitchen has white cabinets and at least some white appliances.

It still has some of its vintage features intact, including ceiling medalions, stained glass and 3 wood burning fireplaces, including one in the master bedroom.

The house has space pak air conditioning and a 1.5 car garage.

The listing also indicates it is in the Lincoln school district.

Is this rowhouse priced to sell?

Michael Kennelly at Draper & Kramer Residential has the listing. See the pictures here.

535 W. Arlington: 3 bedrooms, 2.5 baths, 3100 square feet, 1.5 car garage

• Sold in July 1991 for $690,000
• Sold in August 1993 for $911,250
• Sold in July 2007 for $1.2 million
• Currently listed for $1.195 million
• Taxes of $17,070
• Space pak cooling
• 3 wood burning fireplaces
• Bedroom #1: 18×16 (second floor)
• Bedroom #2: 12×12 (second floor)
• Bedroom #3: 18×14 (second floor)
• Recreation Room: 25×19 (lower level)

I’ve gotten a few requests recently to check back in on River City at 800 S. Wells in the South Loop.

The last time we chattered about the building was in November 2009.

See our 2009 chatter here.

It’s more than 18 months later, and foreclosures and short sales are still ravaging the building.

Many ask: how long will the distress sales in Chicago go on?

All you have to do is look at River City to see how long it takes for these sales to work their way through the system.

Looking at all the listings for sale is a bit overwhelming in the building- so I singled out this bank owned 1/1, Unit #853, because it is among the cheapest units available in the building.

Despite being listed for 70% below the 2001 purchase price,  and with the possibility of putting just 3.5% down, the unit still isn’t selling.

The kitchen and bathroom appear intact.

The kitchen has green cabinets and white appliances.

The unit is carpeted.

It has central air, but I don’t believe there is an in-unit washer/dryer.

The listing also indicates there is parking, but I don’t know if that is rental or deeded.

In addition to the distress sales in the building, if you recall, last summer, the parking structure suffered severe flooding which led to the building being evacuated for 3 weeks.

You can read about that August 2010 flood here.

How low will prices go in this building?

And when will it finally stabilize?

[You’ll notice the bank owned #853 for almost a year and a half before re-listing it.]

Helen Oliveri at Keller Williams Realty has the listing. See the pictures here.

Unit #853: 1 bedroom, 1 bath (no square footage listed but #753 is on the market with 653 square feet)

• Sold in September 2001 for $163,000
• Lis pendens foreclosure filed in February 2010
• Bank owned in January 2010
• Originally listed in May 2011 for $54,900
• Reduced
• Currently listed at $49,900
• Assessments of $425 a month (includes heat, pool)
• Taxes of $1204
• Central Air
• No in-unit washer/dryer?
• Parking? (deeded or rental?)
• Bedroom #1: 15×11
• Living room: 18×11
• Kitchen: 12×7

Some of you may remember this property at 1824 W. Cuyler in North Center.

Even though we didn’t chatter about it in a post, the then 2-flat was discussed in the comments section several times because it was a property on a standard Chicago lot of 25×120 listed for just $204,900 in what is considered to be a desirable neighborhood.

Even just for the lot- many of you thought this was an extreme bargain.

Yes- it was bank owned.

The prior listing for the property indicates you weren’t the only ones as it said there was a “multiple offer situation.”

The 2-flat sold in December 2010 for $180,000.

You can see that listing and interior pictures here.

Not surprisingly, the property has now returned to the market just 6 months later completely gutted and is now a 4 bedroom, 3.5 bath single family home.

The frame of the house was built in 1888, but it now has new electric, plumbing, roof, windows, lighting, HVAC and a new garage (not to mention kitchen and baths.)

The main level is now an open layout with the kitchen sporting white cabinets (as I’ve been saying- white is “in” now!), stainless steel appliances and granite counter tops.

In this new layout, there are bedrooms on each floor with a huge master bedroom suite on the second floor, a bedroom on the main floor and 2 bedrooms in the lower level.

In case you’re wondering how close this house is to the El- it is three houses away from the brown line tracks.

The house was originally priced at $474,900 on July 6- which would put it in the key under $500,000 price range.

But apparently someone decided (maybe from the many calls about showings?) that that price was just too low.

It was just raised $75,000 to $549,900.

Will this rehabber get the higher price for this location?

Jason O’Beirne at Jameson Sotheby’s has the listing. See the pictures here.

1824 W. Cuyler: 4 bedrooms, 3.5 baths, 2200 square feet

• Sold in March 2007 as a 7 bedrom, 3 bath 2-flat for $395,000
• Lis pendens foreclosure filed in July 2009
• Bank owned in September 2010
• Originally listed in September 2010 for $204,900
• Sold in December 2010 for $180,000
• Originally listed on July 6, 2011 for $474,900
• Raised
• Currently listed for $549,900
• Taxes of $8904
• Central Air
• Bedroom #1: 31×24 (second floor)
• Bedroom #2: 21×16 (main floor)
• Bedroom #3: 15×10 (in walk-out basement)
• Bedroom #4: 11×10 (in walk-out basement)
• Family room: 30×10 (in walk-out basement)

This 3-bedroom at 707 W. Junior Terrace in the Buena Park neighborhood of Uptown just came on the market.

It is a short sale and listed $90,000 under the 2006 purchase price.

The midrise building was built in 1927 and has 14 units.

Like many vintage buildings of this era, the unit has big room sizes and includes a full sized dining room and family room.

It has arched ceilings in the foyer, crown molding and a fireplace.

The kitchen has stainless steel appliances and stone counter tops.

There is space pac cooling and an in-unit washer dryer.

It looks like the parking is available for rent (not sure if this is just in the neighborhood or in the building.)

Is this a deal for the square footage?

Greg Desmond at Prudential Rubloff has the listing. See more pictures here.

Unit #5: 3 bedrooms, 2.5 baths, no square footage listed (but somewhere around 3000 based on other units in the building)

• Sold in March 1996 for $168,000
• Sold in February 2000 for $308,000
• Sold in May 2004 for $665,000
• Sold in July 2006 for $690,000
• Originally listed in February 2009 for $839,000
• Withdrawn from the market in January 2010
• Currently listed as a “short sale” at $600,000
• Assessments of $1183 a month (includes heat, gas)
• Taxes of $4512
• Space pac cooling
• In-unit washer/dryer
• Rental parking
• Bedroom #1: 17×12
• Bedroom #2: 16×11
• Bedroom #3: 11×8
• Family room: 19×15
• Living room: 19×15
• Dining room: 17×12
• Kitchen: 25×12