Crib Chatter

This 2-bedroom unit at 3750 N. Lake Shore Drive in East Lakeview has been on the market for a year.

It was recently reduced $84,000 and is now a short sale.

It is also the cheapest unit for sale in the building.

Built in 1926, this pre-war co-op has 130 units and full service amenities such as an indoor pool.

The unit does not have central air or washer/dryer in the unit and only rental parking is available nearby.

But it does have the crown molding and big spaces that characterize vintage apartments of that era.

The kitchen has been renovated with cherry cabinets and stainless steel appliances.

The full bath is marble.

The assessment is listed at $2100 a month, but the other “G” tier unit, Unit #3G that is also on the market, has an assessment of only $1409.

One of the other listings discusses a 5-year special assessment so it could be that the special was wrapped into the monthly assessment for this unit.

Will the assessment make this unit a hard sell- even at this reduced price?

Kevin Van Eck at @Properties has the listing. See the pictures here.

Unit #13G: 2 bedrooms, 1.5 baths, 1636 square feet

• I couldn’t find a prior sales price due to it being a co-op
• Originally listed in April 2010 for $299,000
• Reduced
• Currently listed as a “short sale” for $219,000
• Assessments of $2100 a month (includes heat, gas, doorman, cable, pool)
• Taxes are included in the assessment (due to it being a co-op)
• No central air
• No washer/dryer in the unit
• No parking- it is rental for $150 to $275 a month
• Bedroom #1: 19×13
• Bedroom #2: 19×13

We’ve chattered about this 2-bedroom unit at 60 W. Erie in River North several times before.

See our August 2010 chatter here.

Back in 2008, the listing said the overseas owner wanted out. But it has been on and off the market, with several reductions since.

It is now listed about 17% under its 2004 purchase price.

The current listing still says the owner wants out but now it’s also a “Perfect opportunity for an investor. Owner received $4750/mo for 2009/2010 rent.”

60 W. Erie is a boutique high rise building built in 2004 with only 24 units.

The unit has 9 foot ceilings and city views. It also has a 15×15 terrace.

The kitchen has stainless steel appliances and granite counter tops and the baths are marble.

Will we see more of these listings- which had been on the market several years prior, rented out, and now return back to the market at a lower price?

Katherine Chez at Baird and Warner still has the listing. See the pictures here.

Unit #1102: 2 bedrooms, 2.5 baths, 2157 square feet

• Sold in March 2004 for $926,500
• Was listed in March 2008 for $930,000 included 1 car parking
• Withdrawn
• Was listed in June 2010 for $890,000
• Reduced
• Was listed in August 2010 for $790,000 (includes 2 side-by-side parking spaces)
• Was re-listed in March 2011 for $710,000 (parking extra)
• Reduced
• Currently listed at $695,000 (plus $80,000 for 2 side-by-side parking spaces)= $775,000 total
• Assessments of $1369 a month (includes gas and doorman)
• Taxes now listed at $5377 but last August were $10304
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 18×10
• Bedroom #2: 12×11
• Den: 15×10

This 2-bedroom co-op at 1350 N. Astor in the Gold Coast has been on the market 13 months.

In that time, it has been reduced $50,000.

The building was constructed in 1949 and has a parking garage.

The listing admits that the kitchen and bath need renovation however the kitchen does have granite counter tops.

The unit has parquet floors, built-in bookcases and a 15×4 balcony that overlooks Astor Street.

There is no in-unit washer/dryer and no central air, but there is a reserved parking space included in the price.

Is this a deal for the location?

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

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

• I couldn’t find a prior sales price
• Originally listed in March 2010 for $269,000
• Reduced several times
• Reduced in January 2011 to $219,000
• Currently still listed at $219,000
• Assessments of $826 a month (includes nearly “everything” including heat, gas, cable, and real estate taxes)
• Taxes of $2676
• Not sure if there is a special assessment with this unit as Unit #10B which just came on the market mentions the special being paid
• Financing allowed up to 90%
• Bedroom #1: 14×11
• Bedroom #2: 14×11

This 3-flat at 1530 N. Orleans in Old Town has been on the market since December 2010.

The listing calls it the “perfect investment” and that it is “priced to sell.”

The building is made up of three 1 bedroom, 1 bath units each with their own separate central air/electric and gas.

It appears that there may be washer/dryer hook-ups in each unit as well.

The listing says there are hardwood floors, fireplaces and new kitchens and baths.

The units consist of the following:

1. Unit #1: 1 bedroom, 1 bath, rented for $1050 a month
2. Unit #2: 1 bedroom, 1 bath, rented for $1100 a month
3. Unit #3: 1 bedroom, 1 bath, rented for $1195 a month

The property was built in 1890 on a 25×125 lot.

It does not have parking available (street parking only.)

And yes- that is the EL directly next to the building.

The listing states: “CLOSE TO THE SEDWICK EL & VERY LOW NOISE SINCE THE TRAIN IS SLOWLY MOVING.”

What will it take to sell this “perfect investment”?

Linda Broznowski at @properties has the listing. See the pictures here.

1530 N. Orleans: 3-flat, 3 bedrooms, 3 baths, no parking

• Sold in April 1986 (price could not be determined)
• Sold in February 1991 (price could not be determined)
• Originally listed in December 2010 for $439,900
• Currently still listed at $439,900
• Taxes of $9900
• Monthly income of $3345
• Separate utilities for each apartment
• Central Air

This vintage 4-bedroom American 4-Square at 3725 N. Lowell in Old Irving Park had originally been on the market in 2009 and early 2010 before recently returning to try again.

Since April 2009, the house has been reduced $100,000.

Built in 1906, it has some of its original features including leaded glass, woodwork and columns.

The eat-in kitchen has granite counter tops and white appliances.

The listing says there is a new master bath with a jet tub.

All 4 bedrooms are on the second floor and there is a family room in the finished basement.

The house is on an oversized 37×144 lot and has a 2-car garage and central air.

Listed $130,000 over the 2000 purchase price, has there been appreciation in the Old Irving Park single family home market in the last decade?

Mario Greco at Prudential Rubloff has the listing. See the pictures here.

3725 N. Lowell: 4 bedrooms, 2 baths, no square footage listed, 2 car garage

• Sold in March 1992 for $185,000
• Sold in June 2000 for $369,000
• Originally listed in April 2009 for $599,000
• Reduced
• Withdrawn in April 2010 at $549,000
• Re-listed in April 2011 for $499,000
• Taxes of $6424
• Central Air
• Bedroom #1: 12×12 (second floor)
• Bedroom #2: 14×13 (second floor)
• Bedroom #3: 12×9 (second floor)
• Bedroom #4: 9×9 (second floor)
• Family room: 22×21 (lower level)

This 2-bedroom at 3052 W. Logan Boulevard in Logan Square is located right on the historic boulevard within steps of coffee shops, restaurants and the Blue Line El stop.

The 1450 square foot unit has hardwood floors and a new eat-in kitchen with stainless steel appliances.

The listing says the bathrooms are redone but some of the vintage features were left intact, including a clawfoot bathtub in one of the baths.

There is a washer/dryer in the unit and parking included but it doesn’t have central air.

Just how hot IS Logan Square right now?

Robert Safranski at Saffron Realty Group has the listing. See more pictures here.

Unit #2W: 2 bedrooms, 2 baths, 1450 square feet

• Sold in September 2000 for $205,000
• Sold in October 2006 for $290,000
• Currently listed for $299,900 (parking included)
• Assessments of $268 a month (includes heat)
• Taxes of $3079
• No central air
• Washer/Dryer in the unit
• Bedroom #1: 15×11
• Bedroom #2: 12×11

A month ago we chattered about this 3-bedroom vintage unit at 434 W. Oakdale in Lakeview.

See our March 2011 chatter here.

At that time, the unit had been reduced 22% from its 2005 purchase price.

It has recently been reduced another $26,000.

It is a short sale.

Recently, the listing agent posted a comment on CribChatter that despite the enormous price drop, the property was garnering little attention from buyers and she thought it was because there weren’t many people with a “taste for vintage.”

I questioned whether or not it being a short sale could also be scaring away potential buyers.  She replied:

“It’s hard to say how many buyers may not be looking at Oakdale or other places that are listed as short sales. Certainly the bad experiences of many buyers trying to purchase short sales scares some away. However, in the case of Oakdale, it wasn’t a matter of showings dropping off once we listed it as a short sale. I believe it’s more a function of buyers not favoring vintage overall, and the need for a little updating on this unit. It’s such a huge place with wonderful room sizes and vintage detailing. I think it’s a real value at our current price. The bank has not approved the price yet, but I’m confident of it. Thanks.”

The unit has many of its vintage features intact including a beamed ceiling in the dining room and vintage wood moldings.

The listing agent concedes that the kitchen and one of the baths needs updating.

The kitchen has green cabinets and white appliances.

But this property is still 2300 square feet with central air, washer/dryer in the unit and covered parking in East Lakeview.

Is vintage really “out” or is it simply that any property not remodeled gets passed over now?

(And remember- the furniture won’t be there when you move in.)

Anne Laughlin at @Properties still has the listing. See the pictures here.

Unit #2: 3 bedrooms, 2 baths, 2300 square feet, covered parking

• Sold in May 1989 for $275,000
• Sold in May 1991
• Sold in September 1996 for $400,000
• Sold in September 2005 for $675,000
• Originally listed in April 2010 for $699,900
• Reduced
• Was listed in March 2011 as a “short sale” for $525,000
• Reduced
• Currently listed for $499,900
• Assessments of $389 a month
• Taxes of $9794
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×13
• Bedroom #2: 15×10
• Bedroom #3: 13×13
• Sun room: 18×10

This 5-bedroom single family home at 4117 N. Western in North Center has been on and off the market since January 2011.

It is bank owned but after trying to sell it the conventional way the last few months, it is going to auction it instead.

The house was built in 1906 and the listing says it is 1462 square feet (maybe just one floor?)

From the pictures, it appears the kitchen is intact. It has maple cabinets and white appliances.

You can see the house this weekend, on Apr 10, by appointment only.

The auction will be Saturday, April 16 at the Renaissance Schaumburg hotel. Registration begins at 8:30 am.

The opening bid appears to be $149,000. It is an “all cash” purchase only.

The opening bid is 74% under the 2007 purchase price.

Is anyone game for an auction?

Some of you attended the auctions for the high rise condos a few years back (like the Vetro auction). If anyone goes to this big Schaumburg auction on the 16th, please let us know how crazy it is.

Auction.com has the listing. See the pictures here.

Check out the auction listing here.

4117 N. Western: 5 bedrooms, 2 baths, 1462 square feet

• Sold in November 1998 for $138,000
• Lis pendens filed in September 2006
• Sold in February 2007 for $575,000
• Lis pendens foreclosure filed in September 2009
• Bank owned in June 2010
• Originally listed in January 2011 for $342,000
• Reduced in February 2011 to $333,500
• Withdrawn
• Now going to auction on April 16 with the starting bid of $149,000
• Cash only
• Taxes around $8200 (per 2009)

This 3-bedroom vintage unit at 504 W. Barry in East Lakeview recently came on the market.

The 10-unit building was built in 1927 and is described in the listing as a “gothic jewel.”

At 2200 square feet, the unit has the larger room sizes common in the pre-war buildings.

The unit has some of its vintage features intact such as a woodburning fireplace and crown molding.

It also has the modern amenities buyers look for with space pac a/c and side-by-side in-unit washer/dryer.

Parking is a premium in the neighborhood, but the unit comes with parking as well as guest parking.

The listing describes the kitchen as a “chef’s kitchen”. It has stainless steel appliances.

The property also comes with a large balcony- which is somewhat unusual for this type of vintage building.

It is listed for $29,900 over the 2007 purchase price.

Will this property be able to command a premium?

Richard Cohn has the listing. See the pictures here.

Unit #3W: 3 bedrooms, 3 baths, 2200 square feet

• Sold in August 2000 for $427,500
• Sold in May 2007 for $750,000
• Currently listed for $779,900
• Assessments of $744 a month (includes heat)
• Taxes of $9295
• Space Pac A/C
• In-unit washer/dryer
• Parking included
• Bedroom #1: 17×12
• Bedroom #2: 16×13
• Bedroom #3: 12×12

We last chattered about this 3-bedroom penthouse in The Belvedere, at 270 E. Pearson in Streeterville, in January 2011.

See our prior chatter here.

At that time, it had just gone under contract after a price reduction.

The unit recently sold for $245,000 over the 2006 purchase price.

The Belvedere is a luxury boutique building with just 42 units.

If you recall, the duplex unit had 12 foot ceilings and 2 outdoor spaces including a 33×20 terrace and a balcony.

It had a second floor great room measuring 28×21.

The unit also had a “gourmet kitchen” with a large kitchen island and some stainless steel appliances.

Caroline Druker at Baird & Warner had the listing.

Unit #16E: 3 bedrooms, 3.5 baths, 3613 square feet

• Sold in June 2006 for $2.58 million
• Originally listed in March 2010 for $3.75 million
• Reduced twice
• Was listed in January 2011 for $3.499 million (includes 2 parking spaces)
• Sold in April 2011 for $2.825 million (parking included)
• Assessments of $3163 a month (includes gas, doorman)
• Taxes of $25,333
• Bedroom #1: 17×12 (main level)
• Bedroom #2: 15×13 (main level)
• Bedroom #3: 15×12 (main level)