Crib Chatter

We last chattered about this 2-bedroom at 1446 W. Henderson in the Southport neighborhood of Lakeview in January 2011.

See our prior chatter here.

At that time, it had been on the market 2 1/2 years and was listed $32,000 under the 2005 purchase price at $375,000.

Some of you thought it was listed under rental parity (if you put down enough to get a $300,000 mortgage.)

Others thought you were (surprise!) still catching the falling knife.

It recently sold for $362,500, or $44,500 under the 2005 purchase price.

If you recall, it was located in a 3-unit building constructed in 1995 and was just a few blocks from the Southport restaurants/shops/bars as well as the Southport brown line stop.

The listing said it had a new kitchen with granite counter tops and stainless steel appliances.

It had central air, washer/dryer in the unit and deeded parking included.

Did someone get a deal on this unit?

Ashley Carter at Koenig Strey Real Living had the listing. You can still see pictures here.

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

• Sold in October 1995 for $285,000
• Sold in July 1998 for $280,000
• Sold in April 2001 for $347,000
• Sold in June 2005 for $407,000
• Originally listed in July 2008 for $489,900
• Reduced numerous times
• Was listed in January 2011 for $375,000
• Sold in June 2011 for $362,500 
• Assessments of $90 a month
• Taxes of $5479
• Bedroom #1: 14×18
• Bedroom #2: 12×10

This 2-bedroom single family home at 3745 N. Seminary in the shadow of Wrigley Field in Lakeview recently came on the market listed at $499,000.

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.

While the house was built in 1896, there are no dimensions provided for the lot size.

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.

What’s the market for this type of property in this location?

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

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

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

We last chattered about this top floor rehabbed 3-bedroom at 3505 N. Janssen in the Southport neighborhood of Lakeview in August 2010.

See our August 2010 chatter here.

At that time, it was listed $12,500 above the 2006 purchase price.

Most of you thought it was overpriced at $545,000.

Dave M guessed a sales price of $440,000 as the sellers were “disconnected from reality in the neighborhood.” Laura thought $375,000 would do it.

The unit was withdrawn in December 2010.

Then in February 2011, Unit #3, the unit directly below Unit #4 and with similar finishes came on the market.

It was priced $40,000 under the 2007 purchase price at $485,000.

We chattered about that unit too (kind of.) See our prior chatter on Unit #3 here.

That unit sold for $470,000 in May 2011.

NOW-

After the comp of Unit #3, Unit #4 has returned to the market at the new price of $495,000, or $37,500 under the 2006 purchase price.

If you recall, this building is located in what many people consider to be “prime” Southport, it is just a block away from shops and restaurants and a short stroll to the Southport Brown Line stop.

It’s in the Hamilton school district.

It has all the bells and whistles of a recent gut rehab, including cherry floors and stone baths.

The kitchen has stainless steel appliances and granite counter tops.

It has outdoor space in a private wrap-around terrace.

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

We know it’s not going to command over $500,000, but with Unit #3 as a recent comp, it this now priced to sell at $495,000?

Gregory Desmond at Prudential Rubloff still has the listing (and he had the listing for Unit #3 too). See the pictures here.

Unit #4: 3 bedrooms, 2 baths, no square footage listed

• Sold in January 2006 for $532,500 (parking included)
• Originally listed in June 2010 for $545,000
• Was still listed in August 2010 at $545,000
• Withdrawn in December 2010
• Unit #3 lists in February 2011 for $485,000 and sells in May 2011 for $470,000
• Re-listed in May 2011 at $495,000
• Currently still listed at $495,000 (parking included)
• Assessments of $232 a month
• Taxes of $7437
• Central Air
• In-unit washer/dryer
• Bedroom #1: 15×10
• Bedroom #2: 10×10
• Bedroom #3: 13×12

This 3-bedroom townhouse at 26 S. Aberdeen in the West Loop has been on and off the market since April 2009.

In that time, it has been reduced $90,900.

It is now listed $1,000 under the 2004 purchase price.

The townhouse was built in 2004 and is 2000 square feet.

There are 2 bedrooms on the third floor and one on the main level.

The living/dining area is on the second floor.

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

There are bamboo floors and the master bathroom is slate.

The townhouse also has a 200 square foot rooftop deck and a 2 car attached garage.

For comparison, another 3-bedroom in the complex at 16 S. Aberdeen #7 which was 2200 square feet but had similar finishes sold in May 2011 for $405,000.

Is the low $400,000s the new market price for these townhouses?

Jeanne Carava at Prudential Rubloff has the listing. See the pictures here.

Unit #3: 3 bedrooms, 2 baths, 2000 square feet, 2 car parking

• Sold in March 2004 for $420,000
• Originally listed in April 2009 for $509,900
• Reduced several times
• Was listed in October 2010 for $449,000 and then was withdrawn
• Lis pendens foreclosure filed in December 2010
• Re-listed in June 2011 for $419,000
• Assessments of $185 a month
• Taxes of $5878
• Central Air
• Bedroom #1: 14×13 (third floor)
• Bedroom #2: 13×9 (third floor)
• Bedroom #3: 13×12 (main level)

We last chattered about this 5-bedroom vintage bungalow at 2600 W. Wilson in Ravenswood Gardens in February 2011.

See our prior chatter here.

The house was no “ordinary” bungalow as it was built on an oversized 45×120 lot in 1920.

The interior was transformed by the original owner, an electrician and organist for the Balaban & Katz Theater Company, in 1926.

Some of you thought the home was beautiful. One called it your “dream home.”

Some of you thought it was hideous.

You can still see pictures of the interior here.

In February, the house was listed for $1.25 million and some of you questioned why anyone would pay that price and NOT be close to the lake.

Also, the chatter evolved into (what else?) what the schools were like in the neighborhood and what were acceptable high schools in Chicago.

Which- by the way- if anyone checked out the latest issue of Newsweek which ranked America’s “best” high schools would see that the top Chicago schools were:

1. Northside College Prep (ranked #24 out of 500 nationally)
2. Lane Tech (ranked #216 out of 500 nationally)
3. Lincoln Park (ranked #424 out of 500 nationally)

The house recently sold for $1.2 million.

If you recall, there was extensive plaster, wood moldings, stained glass and ironwork throughout the house.

There were also 3 fireplaces, including one in the master bedroom and one in the basement.

The basement was finished and was large enough to be a family room and game room area.

It had the preferred floorplan with none of the bedrooms in the basement as we routinely see with 5 bedroom homes.

3 out of the 5 bedrooms were on the second floor with the other two on the main floor.

The kitchen was updated with modern cabinetry and stainless steel appliances.

It had central air and 4 car parking as well as a 1000 square foot flagstone terrace and a roof deck above the garage.

The house is located just 2 blocks from the Rockwell Crossing Brown Line stop and shops and just a few blocks from the Lincoln Square shops and restaurants.

Michael McCallum at Baird & Warner had the listing.

2600 W. Wilson: 5 bedrooms, 5.5 baths, 6000 square feet, 4 car parking

• Sold in December 1993 for $280,000
• Was listed in February 2011 for $1.25 million
• Sold in June 2011 for $1.2 million
• Taxes of $7091
• Central Air
• Bedroom #1: 16×16 (second floor)
• Bedroom #2: 14×11 (second floor)
• Bedroom #3: 16×10 (second floor)
• Bedroom #4: 12×10 (main floor)
• Bedroom #5: 14×14 (main floor)
• Laundry room: 12×12 (second floor)
• Family room: 23×12 (basement)

This 3-bedroom at 1915 W. Diversey in Lincoln Park has been on the market since July 2008.

In that time it has been reduced $150,000.

It is also listed $111,000 under the 2007 purchase price.

It appears to be a short sale.

This building was completed in 2006/2007.

This 1800 square foot unit has upgraded finishes including a Viking stove and stainless steel appliances in the kitchen.

The bathrooms are stone and granite.

The unit also has an iPod docking station.

It has the features common to new construction of those years including central air, washer/dryer in the unit and parking.

Is this a deal?

Sophia Klopas at Koenig & Strey Real Living has the listing. See the pictures here.

Unit #202: 3 bedrooms, 2 baths, 1800 square feet

• Sold in August 2007 for $461,000
• Originally listed in August 2008 for $500,000
• Reduced numerous times
• Was listed in March 2011 for $400,000
• Reduced some more
• Currently listed at $350,000 (parking included)
• It appears to be a short sale
• Assessments of $250 a month
• Taxes of $5467
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×17
• Bedroom #2: 11×13
• Bedroom #3: 11×12

This Fannie Mae owned 2-bedroom at 930 N. Wood in the East Village neighborhood of West Town has been on the market as a foreclosure for 5 months.

After being reduced $55,000 in that time- it finally went under contract this week.

It is currently listed just $5900 above the 2001 purchase price.

At just 991 square feet, the unit, built in 2001, has hardwood floors in the main living area.

From the pictures, the kitchen appears intact. It has black appliances and granite counter tops.

The unit does have the other amenities buyers look for, including central air, in-unit washer/dryer and a parking space.

It is also just a few blocks from the shops and restaurants of Division Street.

Is someone getting a deal on this unit (finally)?

Jack Lewitz at IL Real Estate Specialists has the listing. See the pictures here.

Unit #2: 2 bedrooms, 2 baths, 991 square feet

• Sold in January 2001 for $229,000
• Sold in April 2002 for $266,900
• Sold in April 2005 for $322,500
• Lis pendens foreclosure filed in February 2009
• Was listed in September 2010 for $450,000
• Bank owned in October 2010
• Originally listed in February 2011 for $289,900
• Reduced several times
• Currently listed for $234,900
• Under contract
• Assessments of $119 a month
• Taxes of $4833
• Central Air
• Washer/Dryer in the unit
• Parking space included
• Bedroom #1: 12×17
• Bedroom #2: 10×12

We have often chattered about the differences between co-ops and condos but after decades as a co-op building, 5000 S. East End in Kenwood has decided to become condos.

From Crain’s in January 2011:

“The cooperative that owns a 28-story vintage apartment tower in Kenwood borrowed $3 million from Harris Bank as part of a plan to convert the building into condominiums. Built in the late 1920s, the 98-unit high-rise at 5000 S. East End Ave. was the tallest building on Chicago’s South Side until the mid-1960s and may be best known as the former home of mayoral candidate and former U.S. Sen. Carol Moseley Braun. The co-op, Five Thousand East End Avenue Building Corp., will use proceeds from the Harris loan to pay off existing debt, which includes a $2-million mortgage with NCB, a Washington, D.C.-based bank that specializes in lending to co-ops, property records show. A call to the building’s management office was not returned.”

But, apparently, all has not been smooth sailing for the conversion. In May 2011, CBS and Crain’s reported on a lawsuit brought by 10 homeowners to stop the condo conversion because of the massive special assessment that they would have to pay to pay off the co-op debt. See the CBS coverage here.

I’ve heard the special was anywhere from $70,000 to $120,000 per unit.

Does anyone know the status of the lawsuit?

The current listings seem to indicate that the conversion has already occurred.

The listing for this 3-bedroom unit, currently the most expensive unit on the market in the building, says that it has been converted.

The assessments also reflect the new condo assessments.

This 3-bedroom has recently been renovated.

The kitchen now has granite counter tops and stainless steel appliances.

It also has the amenities many buyers are looking for with central air (space-pac?), in-unit washer/dryer and parking.

The unit has a formal foyer and a separate dining room, features which were common in the 1920s high rises.

With an asking price under $290,000, and keeping in mind that the special assessment had to be paid, is this a deal for the space?

Anthony Rouches at @Properties has the listing. See more pictures here.

Unit #12A: 3 bedrooms, 3 baths, 1800 square feet

• Sold in January 2011 for $89,000
• Originally listed in May 2011 for $319,900
• Reduced
• Currently listed at $289,900
• Assessments of $1449 a month (includes heat, parking, doorman)
• Taxes are “new”
• Central Air- seems to be space pac
• Washer/Dryer in the unit
• Parking included
• Bedroom #1: 14×17
• Bedroom #2: 14×16
• Bedroom #3: 9×11
• Dining room: 13×21

We last chattered about this 3-bedroom at 448 W. Wrightwood in Lincoln Park in February 2010.

See our prior chatter here.

The condo was being marketed as looking like the apartment that Jennifer Aniston and Vince Vaughn’s characters lived in in the movie “The Breakup.”

(Although, there was never a “real” apartment used in that movie- as it was filmed on a soundstage.)

Those that commented on the price (and not the heated driveway), thought it was, surprise, surprise, overpriced.

Someone thought it would sell around the 2003 price and that it was “foolish” to list above the 2007 price.  Another person thought it wouldn’t get more than $300 a square foot.

The unit recently sold for $20,000 above the 2007 price at $314 a square foot.

The unit had apparently been “gutted to perfection” but it still had some of its vintage features such as stained glass, coffered ceilings and moldings.

The listing said it has an “Ann Sachs kitchen” with white cabinets and stainless steel appliances. (The white kitchen again!)

It had all the other amenities buyers look for such as central air, an in-unit washer/dryer and a heated driveway leading to garage parking.

Maybe listing over the 2007 price wasn’t too “foolish” after all?

Jena Radnay at @Properties had the listing.

Unit #1: 3 bedrooms, 2 baths, 2100 square feet, 1 car parking

• Sold in November 1994 for $277,000
• Sold in October 1996 for $365,000
• Sold in December 2000 for $525,000
• Sold in March 2003 for $595,000
• Sold in July 2007 for $640,000
• Was listed in February 2011 for $699,000
• Sold in June 2011 for $660,000
• Assessments of $302 a month
• Taxes of $7145
• Central Air
• Washer/Dryer in unit
• Garage Parking
• Bedroom #1: 15×13
• Bedroom #2: 14×10
• Bedroom #3: 11×9

This 2-bedroom recently came on the market in 2400 N. Lakeview across from Lincoln Park which is also better known as one of the “other” Mies Van Der Rohe highrises in Chicago.

Originally a 3 bedroom unit, it has been converted into a 1575 square foot 2-bedroom.

As is common in Mies’ buildings, it has 10 foot floor to ceiling windows to better take in the Northeast corner views of Lincoln Park and the Lake.

The listing says the unit recently received $10,000 in cherrywood floors and another $10,000 in upgrades.

The kitchen has stainless steel appliances.

The bathrooms are both marble and the master bath is large at 11×9.

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

The building, built in 1963, also has an outdoor pool.

The unit is listed $45,000 under the 2006 purchase price.

Is this a deal for the square footage and views?

Anna Pesce at Prudential Rubloff has the listing. See the pictures here.

Unit #2001: 2 bedrooms, 2 baths, 1575 square feet

• Sold in February 1989 for $260,000
• Sold in May 1990 for $295,000
• Sold in December 1997 for $231,000
• Sold in May 2006 for $525,000
• Currently listed for $480,000
• Assessments of $1050 a month (includes heat, a/c, doorman, cable, pool)
• Taxes of $7091
• Central Air
• Washer/Dryer in the unit
• Parking is available for rent from $124 to $169 a month
• No dogs
• Bedroom #1: 19×11
• Bedroom #2: 15×11