Crib Chatter

We last chattered about this 2-bedroom at 839 W. Wellington in Lakeview in January 2011.

See our prior chatter here.

At that time, it was listed just $14,500 under the 2005 purchase price of $449,500 after having been on the market for 6 months.

Some of you liked the unit a lot but thought it would sell under $400,000.

The unit recently closed for $62,500 under the 2005 purchase price- at $387,000.

The vintage building was converted into condos in 2005.

It had 11 foot coffered ceilings, 6 inch crown moldings throughout and the original limestone and mosaic fireplace.

The kitchen had granite counter tops, white cabinets, a stone backsplash and custom wine shelves.

The unit also had outdoor space with a screened in back porch.

Additionally, it had all the amenities buyers look for including air conditioning, washer/dryer in the unit and a deeded parking space.

Are the $400,000 2/2s becoming a thing of the past in Lakeview?

Bonnie Tripton at @Properties had the listing. You can still see the pictures here.

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

• Sold in August 2005 for $449,500
• Originally listed in August 2010 for $442,000
• Reduced
• Was listed in January 2011 for $435,000
• Sold in June 2011 for $387,000
• Assessments of $252 a month
• Taxes of $6845
• Central Air
• Washer/Dryer in the unit
• Parking included
• Bedroom #1: 13×12
• Bedroom #2: 15×12

This 1-bedroom at 1101 S. State in the South Loop has been on the market since May 2011.

It is a short sale and has now been reduced $15,100.

This high rise was built in 2004/2005.

From what I can tell in the public records, only 2 units have sold in 2011 (there may be some that haven’t yet shown up in the public record.)

There are about 159 units in the building.

This 1-bedroom has cherry floors throughout, including in the bedroom.

At 882 square feet, it has southern views.

The kitchen has all the new construction finishes including stainless steel appliances and granite counter tops.

It has central air, in-unit washer/dryer and parking is available.

But if you don’t want to buy it, you can also rent the identical floorplan higher up in the building- on the 21st floor.

That unit also has stainless steel appliances, granite counter tops and cherry hardwood floors (but only in the living room- the bedroom has carpet.)

It is available for $1700 plus $100 a month for parking. See the rental listing for Unit #2105 here.

It appears to be much cheaper to buy than to rent in this building.

So why isn’t anyone buying this unit?

When will this rent v. own “conundrum” (where no one wants to buy the condos- only rent them) change course?

Rebecca Thomson at Jameson has the listing. See the pictures here.

Unit #1305: 1 bedroom, 1 bath 882 square feet

• Sold in July 2005 for $288,000
• Originally listed as a “short sale” in May 2011 for $175,000
• Reduced
• Currently listed as a “short sale” for $159,900
• Assessments of $485 a month
• Taxes of $3051
• Parking is extra
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×13

We last chattered about this new construction 5-bedroom single family home at 3251 N. Lakewood in Lakeview in December 2010.

See our prior chatter here.

In December, many of you loved Jennifer Ames’ pictures of the property but thought it was overpriced above $2 million.

Since that last chatter, it has been reduced another $130,000 and is now listed under $2 million at $1.995 million.

The brick and limestone house was built in 2009 on a standard 25×125 Chicago lot.

The listing says it has an extra wide 20 foot interior.

4 bedrooms are on the second floor with the 5th in the lower level.

It has luxury finishes including millwork, moldings and a mahogany library.

The house has a 2-tiered deck and a 2-car garage.

Will this new price finally make the sale?

Jennifer Ames at Coldwell Banker still has the listing. See the pictures here.

Or you can see it in person at the Open House on Sunday July 10 from 1-3 PM.

3251 N. Lakewood: 5 bedrooms, 4.5 baths, 5200 square feet, 2 car garage

• Sold in March 2006 for $695,000 (the prior house which was torn down)
• Originally listed in April 2009 for $2.38 million
• Reduced several times
• Was listed in December 2010 for $2.125 million
• Reduced
• Currently listed for $1.995 million
• Taxes of $6040
• Central Air
• Bedroom #1: 20×15 (second floor)
• Bedroom #2: 14×11 (second floor)
• Bedroom #3: 11×14 (second floor)
• Bedroom #4: 11×10 (second floor)
• Bedroom #5: 11×14 (lower level)

We last chattered about this 3-bedroom single family home at 3352 N. Marshfield in Lakeview in March 2011.

See our prior chatter here.

At that time, the house was listed at $499,000 and most of you were shocked by the price.

The house was reduced $30,000 in May, but, so far, there haven’t been any takers.

It is steps to the Whole Foods, Wishbone and assorted other restaurants, bars and activities in the neighborhood.

The listing describes the property as a “unique 2-story contemporary” with an open loft like first floor layout.

The second story was added 19 years ago and that’s where all 3 bedrooms are located.

There are skylights.

One bathroom is on the first floor and one on the second.

Built on a 71×25×58 lot, it has a 1-car attached garage and central air.

What will this house ultimately sell for?

James Miller at Direct Broker still has the listing. See the pictures here.

3352 N. Marshfield: 3 bedrooms, 2 baths, 1927 square feet, 1 car garage

• Sold in May 1992 for $98,500
• Was listed in March 2011 for $499,900
• Reduced
• Currently listed at $469,900
• Taxes of $7861
• Central Air
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 13×10 (second floor)
• Bedroom #3: 10×8 (second floor)

We last chattered about this rehabbed 4-bedroom bungalow at 4701 N. Whipple in Albany Park in April 2011.

See our prior chatter here.

The house was a prior foreclosure. Most of you were uninspired by the rehab and the $350,000 list price.

Homedelete commented: “no one in the history of this property has ever paid $350,000. i know some lipstick is on this pig but come on.”

The house just sold for $350,000.

If you recall, the listing said it had an all new kitchen with granite counter tops and stainless steel appliances and a new deck with backyard landscaping.

Built in 1908 on a 28×125 lot, the house had 2 bedrooms on the main level, one large attic bedroom and a bedroom on the lower level.

There was also a family room and bathroom on the lower level.

The house also had central air and a 2-car garage.

Does the sale of this property at this price confirm the theory that buyers simply want “new”?

Brian Connolly at @Properties had the listing.

4701 N. Whipple: 4 bedrooms, 2 baths, no square footage listed, 2 car garage

• Sold in July 1988 for $68,500
• Sold in December 2001 for $265,000
• Sold in December 2004 for $325,000
• Lis pendens filed in April 2009
• Bank owned in February 2010
• Originally listed in August 2010 for $279,000
• Reduced
• Sold in October 2010 for $110,000
• Was listed in April 2011 for $350,000
• Sold in June 2011 for $350,000
• Taxes of $4440
• Central Air
• Bedroom #1: 11×10 (main level)
• Bedroom #2: 11×9 (main level)
• Bedroom #3: 25×9 (second level)
• Bedroom #4: 14×10 (lower level)
• Family room: 18×10 (lower level)

This corner 2-bedroom loft at 1872 N. Clybourn in Lincoln Park has been on the market since April 2011.

The building was converted into residential lofts back in the early 1990s so many of the authentic loft features were preserved including wide open living spaces, exposed brick, 14 foot timber ceilings, and 10 foot windows.

At 1400 square feet, it also has a second floor den.

The kitchen has 42 inch cabinets and granite counter tops but black appliances.

There is deeded parking included and central air but it looks like it has coin laundry in the building (although another listing in the building says in-unit washer/dryers are allowed.)

The loft is listed $50,900 over the 2005 purchase price- which is appreciation of nearly 14%.

Will this loft get the premium from the 2005 price?

Timothy Mertzlufft at Prudential Rubloff has the listing. See the pictures here.

Unit #302: 2 bedrooms, 1 bath, 1400 square feet

• Sold in April 1993 for $151,500
• Sold in May 1999 for $265,000
• Sold in May 2005 for $369,000
• Originally listed in April 2011 for $419,900
• Currently still listed at $419,900 (parking included)
• Assessments of $370 a month (includes heat and a/c)
• There is a special assessment
• Taxes of $5568
• Central Air
• No in-unit washer/dryer
• Bedroom #1: 16×11
• Bedroom #2: 12×11
• Den: 12×11 (second level)

I’ve long admired this set of vintage rowhouses at the 2500 block of North Racine in Lincoln Park.

In October 2009, this corner unit with a 2-car garage at 2501 N. Racine came on the market at $849,000.

After numerous price drops, it finally sold in March 2011 for $630,000.

The rowhouse recently came back on the market after it has been “completely reconfigured and modernized” at $899,000.

It went under contract within days.

No longer was it simply a 2-bedroom but now it was 3-bedrooms (as the 24×16 second floor master bedroom was broken up into 2 bedrooms.)

The old kitchen had been replaced with a new “chef’s kitchen” with white cabinets (white is back in!), granite counter tops and stainless steel appliances.

All the bathrooms were updated.

The rowhouse, built on a 19×84 lot, has no backyard but there is a deck over the 2-car garage.

It has central air.

Is someone getting a steal for a completely redone vintage property?

You can see what it looked like BEFORE- here.

Ryanne Bumps at @Properties has the listing. See the new pictures here.

2501 N. Racine: 3 bedrooms, 3.5 baths, no square footage listed, 2 car garage

• Sold in April 1993 (no price given)
• Originally listed in October 2009 for $849,000
• Reduced
• Sold in February 2011 for $630,000
• Currently listed for $899,000
• Under contract within days
• No Assessments
• Taxes of $9958
• Central Air
• Bedroom #1: 16×13 (second floor)
• Bedroom #2: 11×11 (second floor)
• Bedroom #3: 12×14 (second floor)
• Family room: 16×18 (lower level)

We last chattered about this 3-bedroom vintage single family home at 6136 N. Lenox in Edgebrook in March 2011.

See our prior chatter here.

It was a short sale and was listed at $430,000.

Since that time, it has been reduced another $50,000 to $380,000 and the listing says you can “close fast” as the short sale is “already approved.”

Built in 1937, the listing says it is the English architectural style.

The house still has some of its vintage features, including a beamed ceiling in the living room.

All 3 bedrooms are on the second floor and there is a first floor den/office and a lower level recreation room.

The kitchen has white cabinets and stainless steel appliances.

The house is on an oversized 35×124 Chicago lot, has central air and a 2-car garage.

In our last chatter, the main problem with the house seemed to be that the 2 bathrooms were located in the lower level and on the second level- which meant there was no bathroom on the main floor.

But with the price reduction, is this house now more attractive?

John Oertel at Dream Town still has the listing. See more pictures and a floor plan here.

6136 N. Lenox: 3 bedrooms, 2 baths,  no square footage listed, 2 car garage

• Sold in July 1989 for $155,000
• Sold in November 1992 for $195,000
• Sold in May 2005 for $510,000
• Sold in March 2007 for $557,000
• Originally listed in February 2011 for $430,000
• Was listed in March 2011 as a “short sale” for $430,000
• Reduced
• Currently listed as a “short sale” for $380,000
• Taxes of $7740
• Central Air
• Bedroom #1: 18×9 (second floor)
• Bedroom #2: 12×11 (second floor)
• Bedroomn #3: 12×9 (second floor)
• Lower level rec room

We last chattered about this renovated vintage 3-bedroom rowhouse at 544 W. Fullerton Parkway in Lincoln Park in April 2011.

See our prior chatter here.

At that time, the rowhouse had been reduced $251,000 from its original asking price to $999,000.

No one guessed the ultimate selling price of the house, but the chatter evolved into what it meant to be truly “wealthy.”

The rowhouse recently sold for $965,000, or $66,000 above the November 2005 purchase price.

If you recall, the rowhouse was built in 1900 on a 20×101 lot and maintained many of its vintage features even though it was also renovated.

The listing said it had a new kitchen with white cabinets and Subzero, Bosch and Viking appliances.

There were 3 new marble baths.

The rowhouse had 12 foot ceilings, crown molding, 2 original stone fireplaces and the original mahogany front door and staircase.

All 3 bedrooms were on the upper floor.

It also had a front garden and a private rear patio.

The listing said there was “onsite parking”.

Cynthia Wilson at Koenig & Strey Real Living had the listing. You can still see the interior pictures here.

554 W. Fullerton: 3 bedrooms, 2.5 baths, 3000 square feet

• Sold in April 1992 for $350,000
• Sold in November 2005 for $899,000
• Originally listed in February 2011 for $1.25 million
• Reduced
• Was listed in April 2011 for $999,000
• Sold in June 2011 for $965,000
• Taxes of $11,991
• Central Air
• Parking is “onsite”
• Bedroom #1: 14×12 (third floor)
• Bedroom #2: 14×12 (third floor)
• Bedroom #3: 8×7 (third floor)

This 2-bedroom top floor duplex up in the courtyard building at 1440 W. Roscoe in the Southport neighborhood of Lakeview has been on and off the market since 2007.

The building was converted into condos in 2005.

It has all the finishes of that era including cherry cabinets, granite counter tops and stainless steel appliances in the kitchen.

The bathrooms are marble.

It also has in-unit washer/dryer and central air but there is no parking.

Given that the El runs directly behind the building, the listing points out that the unit is “soundproofed.”

Now listed about 35% under the 2005 purchase price, it is a short sale that has been bank approved.

A buyer “can close quick” – but the listing points out that a buyer will need 20% down – which at the current list price would be $42,000.

With that much money needed upfront, how low will this go?

Vivienne Frow at @Properties has the listing. See the pictures here.

Unit #2: 2 bedrooms, 1.5 baths, no square footage listed, duplex up

• Sold in March 2005 for $327,000
• Listed as a short sale in November 2010 for $257,000
• Lis pendens foreclosure filed in December 2010
• Reduced numerous times
• Currently listed as a “short sale” for $210,000
• 20% down required
• Assessments of $265 a month
• Taxes of $4952
• Central Air
• Washer/Dryer in the unit
• No parking
• Bedroom #1: 12×12 (second floor)
• Bedroom #2: 13×10 (second floor)