Crib Chatter

We chattered about this 2007 top floor conversion unit at 1627 W. Ainslie in Ravenswood several times over the prior year.

See our January 2011 chatter here.

It had been on the market as a short sale since May 2010 without any takers even though the list price kept falling.

At the time of our last chatter in January, it was listed for $91,000 under its 2007 purchase price at $250,000.

Some of you thought that, compared to rental prices even of other renovated units in the same building, it was still too high.

The unit recently sold for $133,000 under the 2007 price at $226,000.

If you recall, the unit had all the new construction amenities with stainless steel appliances and granite counter tops in the kitchen, central air, and washer/dryer in the unit.

Gated parking was also included in the list price.

Did someone get a deal or is this the new price point for the neighborhood?

Joe Green at Keller Williams had the listing.

Unit #3W: 2 bedrooms, 2 baths, 1090 square feet

• Sold in March 2007 for $359,000
• Lis pendens foreclosure filed in December 2009
• Was listed in May 2010 as a “short sale” for $300,000 (parking is $20,000 extra)
• Reduced
• Was listed in August 2010 as a “short sale” for $270,000 (parking is now $15,000 extra)
• Reduced
• Was listed in January 2011 as a “short sale” for $250,000 (gated parking now included)
• Sold in June 2011 as a “short sale” for $226,000 (parking included)
• Assessments of $148 a month
• Taxes of $4620
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×13
• Bedroom #2: 12×10
• Den: 10×9

This 3-bedroom Georgian at 5824 N. Drake in the Peterson Park neighborhood of North Park has been on the market since December 2010.

It is bank owned.

Built in 1941 on a 30×125 lot, the condition of the property doesn’t sound so great from the listing: “Condition requires cash or 20% D. P. Conventional offers or FHA203k Rehab Loan.”

From the pictures, it appears that the kitchen is missing the appliances and part of the bathrooms may be missing.

All 3 bedrooms are on the second floor.

It also has a lower level family room and a 2-car garage.

The house has central air and 2 fireplaces.

The house has been reduced $54,500 since December.

It is now listed just $4500 over the 1997 purchase price.

Is this a deal for the neighborhood?

Henry Jones at Jones Realty has the listing. See more pictures here.

5824 N. Drake: 3 bedrooms, 1 baths, 2 half baths, 2 car garage, 1810 square feet

• Sold in September 1997 for $220,500
• Lis pendens foreclosure filed in October 2009
• Bank owned in September 2010
• Originally listed in December 2010 for $279,500
• Reduced
• Currently listed for $225,000
• Taxes of $5725
• Central Air
• 2 fireplaces
• Bedroom #1: 15×14 (second floor)
• Bedroom #2: 14×14 (second floor)
• Bedroom #3: 11×11 (second floor)
• Family room: 20×14 (lower level)

As many of you know, I don’t often post on the suburbs because there is just too much going on in the city of Chicago. But given that many of you ARE interested in the inner ring suburbs, I occasionally do venture beyond the city limits.

Thanks to the tipster who pointed out this 4-bedroom vintage English Tudor at 313 Wisner in Park Ridge.

It has been on the market since April 2008.

In that time it has been reduced $379,900 and is now listed $314,000 under the 2006 purchase price.

No- it does not appear to be a short sale.

Built in 1927 on a 50×160 lot, the listing says the vintage house has been classically restored.

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

3 of the 4 bedrooms are on the second floor with a first floor master.

It also has a finished family room in the basement.

The house has a 2-car garage, a fenced yard and central air.

Is this house indicative of the price declines in Park Ridge since the height of the market?

The house is currently listed $65,000 under even the 2002 purchase price.

Will it finally sell in 2011?

Craig Tinder at Century 21 Elm has the listing. See the pictures here.

313 Wisner in Park Ridge: 4 bedrooms, 2.5 baths, 2400 square feet

• Sold in August 2002 for $565,000
• Sold in March 2006 for $814,000
• Originally listed in April 2008 for $879,900
• Reduced numerous times
• Currently listed at $500,000
• Taxes of $14,083
• Central Air
• 2 car garage
• Bedroom #1: 17×14 (main level)
• Bedroom #2: 15×13 (second floor)
• Bedroom #3: 15×12 (second floor)
• Bedroom #4: 13×11 (second floor)
• Family room: 21×12 (basement)

This 3-bedroom home at 3100 N. Leavitt in North Center doesn’t look like most of the other properties out there.

(Sorry about the yucky picture but it was pouring rain that day. I’ll try to do better next time.)

Built in 1908, the building is apparently a former bakery.

All of the living space is on the first level with a second floor rooftop deck.

It has unique features such as a mosaic glass wall in the living room and a barrel ceiling in the hallway.

The property has exposed brick and timber ceilings.

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

Built on a 21×125 corner lot, it also has 1-car parking and central air.

Recently reduced $25,100, it is listed just $4,900 over the 2005 purchase price.

What will this anti-cookie cutter property ultimately sell for?

Ken Jungwirth at @Properties has the listing. See the pictures here.

3100 N. Leavitt: 3 bedrooms, 2 baths, 1 car parking

• Sold in June 1999 for $340,000
• Sold in June 2005 for $720,000
• Originally listed in April 2011 for $750,000
• Reduced
• Currently listed at $724,900
• Taxes of $9395
• Central Air
• Bedroom #1: 14×13
• Bedroom #2: 12×9
• Bedroom #3: 12×9
• Roof top deck: 21×19

We last chattered about this 6000 square foot Gold Coast vintage single family home at 1358 N. Dearborn in October 2009.

See our October 2009 chatter here (sorry- no pics).

The house had been completely renovated with luxury finishes including walnut floors, heated stone floors in the bathrooms, and a 3-car garage (which is somewhat unusual for the Gold Coast.)

It was built on a 23×150 lot.

Originally listed at $6.125 million and reduced to $5.95 million in October 2009, the only problem many of you had with the house was the price (no shocker there.)

But “trader” got closest to predicting the ultimate outcome of this house:

“I guess their goal is to be patient for a looong time? Unless they get really lucky, this will not sell anywhere near this price. I think this sells for less than 4.5MM. There are a lot of beautiful units in the 2.0-3.0MM range that are only slightly inferior to this one.”

The house just sold for $4.5 million.

Douglas Smith at Prudential Rubloff had the listing.

1358 N. Dearborn: 5 bedrooms, 6.5 baths, 6000 square feet, 3 car garage

• Sold in May 2003 for $2 million
• Originally listed in September 2009 for $6.125 million
• Reduced
• Was listed in October 2009 at $5.95 million
• Reduced
• Was listed in April 2011 for $4.995 million
• Sold in June 2011 for $4.5 million
• Taxes of $17,125
• 2 fireplaces
• Marble flooring in the laundry room

This 3-bedroom at 550 W. Wellington in Lakeview has been on and off the market since February 2007.

In that time, it has been reduced $140,900.

It is now listed $75,100 under the 2006 purchase price.

The midrise building has only 2-units per floor.

The unit has upgraded finishes including Italian wood floors.

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

The 2002 square foot unit also has a balcony and a heated garage space.

It has all the other amenities buyers are looking for including central air and washer/dryer in the unit.

Will this property finally sell in 2011?

Linda Lee at Century 21 McMullen has the listing. See the pictures here.

Unit #4E: 3 bedrooms, 2 baths, 2002 square feet

• Sold in November 2006 for $800,000
• Originally listed in February 2007 for $864,900
• Reduced
• Currently listed at $724,900
• Assessments of $475 a month
• Taxes of $11054
• Central Air
• Washer/Dryer in the unit
• Heated garage parking included
• Bedroom #1: 17×12
• Bedroom #2: 14×12
• Bedroom #3: 16×10

This 3-bedroom in the Metropolitan Tower at 310 S. Michigan in the Loop came on the market in May 2011.

It is bank owned.

I’m not sure it actually IS a 3-bedroom however.

The unit above it, #1309, is also on the market as a 2 bedroom plus den and it is a short sale.

If anyone knows- please let me know.

Metropolitan Tower is still not sold out from the developer. Yet there are several short sales and bank owned units on the market in the building, including this 3-bedroom unit.

I don’t believe the unit has any lake or Millennium Park views- as you can see an office building out the wall of windows.

According to the pictures, it is also missing the kitchen and the cabinets in at least one bathroom (the toilet is all that remains in one of the bathrooms.)

It does, however, have 2 car parking, central air and a washer/dryer hook up.

Bought in April 2008, the lis pendens was filed just 8 months later.

The unit was recently reduced $40,000 and is currently listed $298,100 under the 2008 purchase price at $629,900.

But Unit #1309, one floor above, is currently listed as a short sale at $429,000 (including one parking spot).

Perhaps they are different floorplans. See the pictures of #1309 here.

What price will sell this unit?

Ira Mizell at Goldtree Realty has the listing. See the pictures here.

Unit #1209: 3 bedrooms, 2.5 baths, no square footage listed

• Sold in April 2008 for $928,000
• Lis pendens filed in December 2008
• Lis pendens foreclosure in October 2009
• Bank owned in September 2010
• Originally listed in May 2011 for $669,500
• Reduced
• Currently listed for $629,900
• Assessments of $862 a month (includes heat, a/c, doorman)
• Taxes of $4800
• Central Air
• Washer/dryer hook-up
• 2 car parking included
• Bedroom #1: 12×11
• Bedroom #2: 11×13
• Bedroom #3: 13×22 (?)

This 2-bedroom two story townhouse at 2052 N. Larrabee in Lincoln Park came on the market in February 2011.

It is an end unit with its own private patio.

The 2-bedrooms are on the second floor with the living areas on the main floor.

The listing says the townhouse has been renovated.

The kitchen has stainless steel appliances, granite counter tops and a tile backsplash.

It has central air and a private parking space.

This townhouse is listed $10,100 under the 2008 purchase price.

Is this a good alternative to a condo?

Andrew Glatz at Crown Heights Realty has the listing. See more pictures here.

2052 N. Larrabee: 2 bedrooms, 1 bath, 1000 square feet

• Sold in December 2004 for $302,500
• Sold in October 2008 for $340,000
• Originally listed in February 2011
• Was listed in March 2011 for $345,000
• Reduced
• Currently listed for $329,900
• Assessments of $180 a month (includes cable)
• Taxes of $4463
• Central Air
• Parking
• Bedroom #1: 14×10
• Bedroom #2: 14×9

We last chattered about this 4-bedroom new construction single family home at 738 W. Belden in Lincoln Park in February 2011.

See our February 2011 chatter here.

At that time, the property had been on the market over 2 years and had been reduced 50% from its original list price of $3.69 million.

It was listed as “as-is” in February for $1.75 million

It recently sold for $1.5 million.

The listing had said it was a “super deal” and that it had been appraised at $2.5 million.

The house had 10 foot ceilings throughout, walnut and limestone floors and Italian marble fireplace mantels.

It had custom paneling and moldings as well as an elevator.

The kitchen has white cabinets, granite counter tops and upscale appliances such as a SubZero refrigerator.

Three of the 4 bedrooms are on the third level with the fourth on the main floor.

There is also a 30×15 library and a 3-car garage on a 25×121 lot.

Did someone get a deal?

Kathleen Tannyhill at Baird and Warner had the listing.

738 W. Belden: 4 bedrooms, 4.5 baths, 5000 square feet, 3 car garage

• Sold in January 2005 for $1.05 million (prior property)
• Originally listed in September 2008 for $3.69 million
• Reduced numerous times
• Lis pendens foreclosure filed in July 2010
• Reduced to $1.75 million in September 2010
• Was still listed “as-is” in February 2011 at $1.75 million
• Sold in June 2011 for $1.5 million
• Taxes of $18,912
• Central Air
• Elevator
• Wine cooler
• Bedroom #1: 12×18 (third floor)
• Bedroom #2: 15×19 (third floor)
• Bedroom #3: 13×14 (third floor)
• Bedroom #4: 13×12 (main floor)
• Library: 30×15 (main floor)

This 3-bedroom single family home at 2941 W. Lyndale in Logan Square just came on the market.

It is bank owned.

Built in 1893 on a 25×100 lot, the listing says it is one of the original homes in the area.

It is just a block to the California blue line stop.

There are no pictures of the kitchen but some of the bathroom appears to be missing.

All three bedrooms are on the second floor.

There is also an unfinished basement.

This house is now listed around the price it sold for in 1998.

The listing says it is a Fannie Mae Homepath purchase which you can buy for 3% down.

Is this a deal for the location?

Mariola Buchowska at Red Zone Realty Group has the listing. See the pictures here.

2941 W. Lyndale: 3 bedrooms, 1 bath, 1362 square feet

• Sold in November 1997 for $82,000
• Sold in January 1998 for $100,000
• Sold in April 2004 for $247,000
• Lis pendens foreclosure filed in April 2010
• Bank owned in May 2011
• Currently listed for $104,900
• Taxes of $2657
• No central air
• A garage is not listed so I don’t know about parking
• Bedroom #1: 11×10 (second floor)
• Bedroom #2: 11×10 (second floor)
• Bedroom #3: 12×9 (second floor)