Crib Chatter

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

This 2-bedroom plus den at 2315 N. Commonwealth in Lincoln Park just came on the market.

Located in a 1915 vintage courtyard building just steps from Lincoln Park, the top floor unit has hardwood floors, a beamed ceiling in the living room and a decorative fireplace.

The listing calls it a “rehab opportunity” and says to “bring your contractor and your imagination.”

The kitchen looks to be from the 1950s and there is no central air or parking (which is rental down the street.)

However, an in-unit washer/dryer can be installed in the unit.

In case you’re wondering how the unit COULD look if it was rehabbed, Unit #2N, just below it, recently sold.

It was fully renovated with a cherry, granite and stainless kitchen and new bath.  See pictures of that unit here.

It just sold for $267,000 (without the washer/dryer being installed.)

With this unit being listed at just $189,000, is this a deal even if you have to rehab it?

Michael Ritchie at @Properties has the listing. See the pictures here.

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

• Sold in June 1987 (price couldn’t be determined)
• Currently listed for $189,000
• Assessments of $400 a month (includes heat)
• Taxes of $2531 (looks like it included the senior exemption)
• No central air (window units only)
• No in-unit laundry (but it’s permitted)
• No parking
• Bedroom #1: 12×14
• Bedroom #2: 10×12
• Living room: 12×21
• Kitchen: 8×9
• Den: 8×10

We last chattered about this 4 bedroom, 4 bath duplex at 400 E. Randolph in Lakeshore East in June 2010.

See our June 2010 chatter here.

At that time, it was bank owned.

The property was being sold as one unit, but it had 2 PIN numbers and the units were one on top of each other in the building with a spiral staircase connecting them.

Listed at $399,000 for the entire property, it sold in August 2010 for $370,000.

Some of you foreshadowed that a buyer might want to split up the units.

Because, after a complete remodel, the property has come back on the market but this time as 2 separate units.

Both have new kitchens and baths.

The kitchens have dark wood cabinets, stainless steel appliances and granite counter tops.

The master bathrooms have heated floors.

The units have dark solid wood floors and large balconies with north views of the Lakeshore East park.

On the market since November 2010, both units have been reduced.

Unit #820 has been reduced $6000 while Unit #920 has been reduced $26,200.

Given the popular location in Lakeshore East and near Millennium Park, are these units now a deal at this price for something that is “new”?

Michael Emergy at Urban Real Estate has both listings.

Original Unit: 4 bedrooms, 4 baths, no square footage listed

• Sold in March 1997 for $294,000
• Sold in January 2006 for $785,000
• Lis pendens in May 2008
• Bank owned in March 2010
• Was listed in June 2010 for $399,900
• Sold in August 2010 for $370,000
• Assessments are $1654 a month (includes heat)
• Taxes of $2764 (there might be a separate tax bill on the second PIN number, I don’t know)
• Bedroom #1: 12×18 (main floor)
• Bedroom #2: 10×14 (main floor)
• Bedroom #3: 12×18 (second floor)
• Bedroom #4: 10×14 (second floor)

Now there are 2 Units.

Unit #820: 2 bedrooms, 2 baths, 1250 square feet

See the pictures here.

• Sold in August 2010 for $370,000 (as part of 2 units)
• Originally listed in November 2010 for $425,000
• Reduced
• Currently listed for $419,900
• Assessments of $879 a month (includes heat, a/c, gas, doorman, cable, pool, shuttlebus)
• Taxes of $4312
• Central Air
• No washer/dryer in the unit
• Parking is rental in the building
• This unit has what looks to be a slightly bigger kitchen than #920
• Bedroom #1: 18×12
• Bedroom #2: 14×10

Unit #920: 2 bedrooms, 2 baths, 1250 square feet

See the pictures here.

• Sold in August 2010 for $370,000 (as part of 2 units)
• Originally listed in November 2010 for $425,000
• Reduced
• Currently listed for $398,800
• Assessments of $879 a month (includes heat, a/c, gas, doorman, cable, pool, shuttlebus)
• Taxes of $4312
• Central Air
• No washer/dryer in the unit
• Parking is rental in the building
• This unit has what looks to be a slightly bigger kitchen than #920
• Bedroom #1: 18×12
• Bedroom #2: 14×10

We last chattered about this 1-bedroom garden unit at 3659 N. Damen in North Center in March 2011.

See our prior chatter here.

If you recall, the listing said it was professionally staged and it was one of the few properties where the furniture was included with the property.

Given that the building was renovated into condos in the 2006-2007 period, the kitchen had the finishes of that era with cherry cabinets, stainless steel appliances and granite counter tops.

There was a washer/dryer in the unit but no central air (window units only.)

While the unit was a garden apartment, the listing said it had full-sized windows and was only 2 feet below grade.

This 1-bedroom just sold for the asking price at $99,000.

Was it the price (under $100k) or the “free” furniture that made the sale?

Edward Schwind at Century 21 S.G.R. had the listing. You can see the pictures here to check out the staging.

Unit #G: 1 bedroom, 1 bath, no square footage listed

• I couldn’t find a prior sales price- I don’t think it ever sold from the developer
• Was listed in March 2011 for $99,000
• Sold in May 2011 for $99,000
• Assessments of $265 a month (includes heat)
• Taxes of $511
• No central air- window units only
• In-unit washer/dryer
• No parking
• Furniture included
• Bedroom: 9×8
• Living room: 16×14
• Dining room: 10×10
• Kitchen: 10×8

We’ve chattered about this 3-bedroom duplex down in a Victorian storefront at 2075 N. Oakley in Bucktown several times in the last 18 months.

See our November 2010 chatter here.

Since our last chatter the property has been reduced another $50,000.

It is now listed $81,600 under the 2006 purchase price.

Way back in our first chatter on the property in January 2010 when it was first listed for $824,900, several of you predicted it would sell somewhere between $550,000 and $650,000.

This unique unit is located in what was a Victorian storefront and appears to still have the original tin ceiling.

The kitchen has marble counter tops and stainless steel appliances.

2 out of the 3 bedrooms are on the main floor with the third in the lower level.

There is also a lower level family room with marble floors.

The side yard is private to the unit and there is an attached garage.

Is the problem with this property that some single family homes are available in the neighborhood for about the same (or less) price?

What will this finally sell for?

Jennifer Mills at Koenig & Strey still has the listing. See the pictures here.

Or see it at the Open House this Sunday, June 26 from 11 AM to 1 PM.

Unit #1: 3 bedrooms, 3 baths, 2600 square feet, duplex down, 1 car parking

• Sold in April 1999 for $320,000
• Sold in January 2002 for $462,500
• Sold in July 2006 for $731,500
• Was listed in January 2010 for $824,900
• Reduced numerous times
• Was listed in November 2010 for $699,000
• Reduced
• Currently listed for $649,000
• Assessments of $259 a month (includes cable)
• Taxes of $6614
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 11×10 (main level)
• Bedroom #2: 18×12 (main level)
• Bedroom #3: 14×11 (lower level)
• Family room: 21×19 (lower level)

We last chattered about this 1-bedroom coach house at 2011 N. Kenmore in Lincoln Park in March 2010.

See our March 2010 chatter here.

Last year, many of you thought it was overpriced for a 1-bedroom.

It has since been reduced $34,000.

If you recall, it is a duplex loft-like unit with skylights, exposed brick and exposed pinewood ceilings.

The kitchen is newer and has white cabinets, stainless steel appliances and black limestone countertops.

The listing says a new half bath was added and that the master bathroom has been completely renovated with a new rain shower.

Last March, the Groove said he was “strangely drawn to the shower”.

It has central air but no parking. The garage in the picture is for the building on the other side of the coach house.

Located just a block from the Armitage brown line stop and all the shops/restaurants of the area, what price will it take to sell this coach house?

John Krueger at Koenig & Strey Real Living now has the listing. See the pictures and a virtual tour here.

2011 N. Kenmore: 1 bedroom, 1.5 baths, no parking

• Sold in June 2000 for $169,000
• Sold in July 2003 for $241,000
• Sold in May 2007 for $295,000
• Was listed in March 2010 for $349,000
• Reduced
• Currently listed for $315,000
• Assessments of $110 a month
• Taxes of $2970
• Central Air
• Washer/Dryer
• Bedroom: 21×18
• Living room: 24×13
• Kitchen: 13×9

For those of you who are contemporary lovers, this Studio Dwell designed 4-bedroom single family home at 915 N. Wolcott in the East Village neighborhood of West Town has been on the market since April 2011.

It has been reduced $200,000 in that time.

At 4700 square feet, it has the modern aesthetic found in Studio Dwell properties.

The kitchen which has what looks to be a wall of glass also has modern white and stainless steel cabinetry and what looks like might be concrete counter tops (does anyone know?)

3 out of the 4 bedrooms are on the second floor with the master bedroom on the third floor.

There is also a 18×13 home theater in the lower level.

The house has several outdoor spaces including a stone patio off the kitchen and a rooftop deck of some kind (off the bedroom?)

Will the sales price ultimately be under the 2005 purchase price on this minimalist home?

Stephen Somogyi at North Clybourn Group has the listing. See the pictures here.

915 N. Wolcott: 4 bedrooms, 3.5 baths, 4700 square feet, 2 car garage

• Sold in May 2005 for $1.38 million
• Originally listed in April 2011 for $1.65 million
• Reduced
• Currently listed at $1.45 million
• Taxes of $12,810
• Central Air
• Bedroom #1: 27×23 (third floor)
• Bedroom #2: 12×12 (second floor)
• Bedroom #3: 12×10 (second floor)
• Bedroom #4: 15×10 (second floor)
• Theater room: 18×13 (lower level)

The May 2011 Chicago sales data is out from the Illinois Association of Realtors.

It’s not surprising that we saw yet another year over year sales decline as 2010 was juiced by the home buyer tax incentive.

In the city of Chicago, May home sales (single family and condominiums) totaled 1,705, up 16.5 percent from 1,464 sales in the previous month and down 17.1 percent from 2,057 homes sold in May 2010.

The city of Chicago year-over-year median price for single family and condominiums in May 2011 was $238,450 up 3.7 percent compared to $230,000 in May 2010; it was 16.0 percent higher compared to the previous month of April 2011 when it was $205,500. For condominiums specifically, the median price reached $299,000 in May 2011, up 10.3 percent year-over-year from $271,150 in May 2010.

Sales data from the last four years:

• May 2011: 1705 sales
• May 2010: 2057 sales
• May 2009: 1557 sales
• May 2008: 2119 sales

Median price data over the last four years:

• May 2011: $238,450
• May 2010: $230,000
• May 2009: $225,000
• May 2008: $319,500

Once again, the IAR chose to break out condo median sales price separately from single family home data.

• May 2011: $299,000
• May 2010: $271,150

“Chicago’s condo sales in May outpaced single family homes by nearly 30 percent, a strong indicator that the condo market is re-emerging as a viable and affordable housing choice.  We continue to monitor the impact of condo financing options and distressed condo units and how they will shape sales in the remainder of 2011,” said Mabel Guzman, president of the Chicago Association of REALTORS® and a REALTOR® with Envision Real Estate LLC, Chicago. “Sellers this summer have the opportunity to position their home with a compelling sales price, and leverage low interest rates on the purchase of their next home.”

“According to our forecast, annual sales rates will turn positive for both Illinois and the Chicago region in July and August, a 22-25 percent increase statewide and 25 to 36 percent for Chicago,” estimates Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois. “This means the effect of the homebuyer tax credit will finally fade out in Illinois during the summer. Median prices for June, July and August are expected to be higher than May in both Illinois and the Chicago region.

May Marks a Four-Month Rise in Illinois Home Sales [Illinois Association of Realtors, Press Release, June 21, 2011]

We last chattered about this 5-bedroom newer construction penthouse at 3512 N. Southport in the Southport neighborhood of Lakeview in January 2011.

See our prior chatter here.

It was the most expensive condo on the market in the neighborhood and the asking price equaled many single family homes in the area.

Many of you thought the likely buyer would be:

1. A hedge fund type
2. A trader
3. A Cubs player
4. One of the Groupon employees
5. A Blackhawk player (given how many of them live in Roscoe Village)

The penthouse recently sold for $1.5 million– or what it sold for in 2008- with the buyer yet to be determined.

If you recall, the top floor unit had 4200 square feet of living space and a 4200 square foot rooftop terrace.

The rooftop terrace covered the entire length of the building and had a full garden with irrigation, a fireplace and, something we hadn’t seen before, a putting green.

This is an elevator building and the elevator opened into a private foyer that lead into the unit.

The unit also had a wine cellar.

The kitchen had all the finishes of new construction including custom white cabinets and commercial grade stainless kitchen appliances.

Does this sale change your mind about the Southport market?

Jeff Lowe at Prudential Rubloff had the listing.

Penthouse Unit: 5 bedrooms, 3 baths, 2 half baths, 4200 square feet, 2 car garage and 2 more spaces outside the garage

• Sold in September 2008 for $1.5 million
• Was listed in January 2011 for $1.699 million
• Sold in May 2011 for $1.5 million
• Assessments of $459 a month
• Taxes of $19361
• Bedroom #1: 19×16
• Bedroom #2: 15×10
• Bedroom #3: 12×12
• Bedroom #4: 12×12
• Bedroom #5: 12×12
• Family room: 21×19