Crib Chatter

This 2-bedroom in The Bristol at 57 E. Delaware in the Gold Coast originally came on the market in March 2022.

The Bristol was built in 2000 and has 178 units with attached garage parking.

It’s a full amenity building with doorstaff, an indoor pool, exercise room, sauna/hot tub, bike room and on-site manager/engineer.

It was also among the first of the “new” luxury towers built in the Gold Coast.

The listing says this unit has been renovated.

It has south city views.

The unit has dark hardwood floors in the living/dining rooms and kitchen along with carpet in the bedrooms.

The kitchen is open to the living/dining space and has white cabinets, white counter tops, a peninsula with seating and “top of the line” appliances along with a wine refrigerator.

The primary suite has a walk-in-closet and an en suite bath with a bathtub, walk-in-shower and dual vanity.

It has the features that buyers look for including central air, washer/dryer in the unit and 1 parking space is included.

This building is near the Mag Mile and shops and restaurants of the Gold Coast.

Originally listed in March 2022 for $620,000, it’s been reduced and is now listed at $595,000.

You can see the prior listing pictures before the renovation here.

With most sellers waiting until February to list for the spring season, can listing right now be an advantage?

Chezi Rafaeli at Coldwell Banker has the listing. See the pictures here.

Unit #1706: 2 bedrooms, 2 baths, 1500 square feet

• Sold in April 2000 for $452,000
• Sold in May 2004 for $525,000
• Originally listed in March 2022 for $620,000
• Reduced
• Currently listed at $595,000 (includes 1 car parking)
• Assessments of $1145 a month (includes cable, Internet, bike room, door staff, exercise room, party room, indoor pool, hot tub/sauna, on-site engineer/manager)
• Taxes of $12,730
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 17×13
• Bedroom #2: 13×11
• Living/dining room: 22×15
• Kitchen: 14×8

We already know from Gary’s data that November’s sales were down sharply compared to last year, which was a 15-year record high. They were at the lowest since 2011’s housing bust market.

All of us watching the Chicago housing market know that sales have ground to a halt thanks to higher mortgage rates.

From the Illinois Association of Realtors:

In Chicago, home sales (single-family and condominiums) in November 2022 totaled 1,522 homes sold, a 36.5 percent decrease from November 2021 sales of 2,396 homes.

In the city of Chicago, the median price of a home in November 2022 was $305,000, a decrease of 6.7 percent from $327,000 in November 2021.

Here is the November sales data for the last 15 years (thanks to G for some of the data):

• 2007: 1859 sales and median price of $290,000
• 2008: 1093 sales and median price of $222,500 (16% short/REO sales)
• 2009: 1905 sales and median price of $215,000 (29% short/REO sales)
• 2010: 1144 sales and median price of $182,500 (39% short/REO sales)
• 2011: 1429 sales and median price of $157,000 (43% short/REO sales)
• 2012: 1750 sales and median price of $180,000
• 2013: 1844 sales and median price of $200,000
• 2014: 1638 sales and median price of $230,000
• 2015: 1661 sales and median price of $233,500
• 2016: 1937 sales and median price of $260,000
• 2017: 1959 sales and median price of $256,000
• 2018: 1852 sales and median price of $261.745
• 2019: 1671 sales and median price of $270,000
• 2020: 2018 sales and median price of $295,000
• 2021: 2396 sales and median price of $327,000
• 2022: 1522 sales and median price of $305,000

“The housing market in Illinois has slowed since its peak in June,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate (SHDRE) at the University of Illinois at Chicago College of Business Administration. “The median home price and the number of sales were lower in November than at the same time last year. The number of foreclosures has increased but is still not high by historical standards. Our forecasts indicate that the number of sales will remain low over the next three months. Prices are forecast to increase slightly in the Chicago area over the few months but are expected to continue to decline somewhat in the rest of Illinois.”

Statewide, inventory fell 12.3% year-over-year to 24,279 from 27,692 even though sales declined 30%.

In Chicago, inventory also fell, declining 16.3% to 6,559 from 7,837 last year.

Days on the market in Chicago also fell again, to 35 days from 36 days last year.

Condos/townhouses remain the weaker market with sales down 40.3% year-over-year to 849 while single family home sales fell “just” 31% to 673.

The average 30-year fixed rate mortgage was 6.81% in November, down from 6.9% in October but up dramatically from November 2021 when it was just 3.07%.

“With many major industries seeing market declines in the face of rising interest rates, it’s no surprise that the November housing market also declined in closed sales, median sales price and inventory,” said Sarah Ware, president of the Chicago Association of REALTORS® and principal and designated managing broker for Ware Realty Group in Chicago. “However, mortgage rates began to drop, which will hopefully draw more buyers into the market as we move towards 2023.”

Will the decline in inventory put a floor under Chicago home prices even with sales plunging?

Illinois homes sell quickly in November; median prices and inventory dip [Illinois Association of Realtors Press Release, by Bill Kozar, December 21, 2022]

This 2-bedroom duplex up at 2121 W. Division in West Town came on the market in October 2022.

2121 W. Division was built in 1999 and has 6 units including commercial space on the first floor. It has garage parking behind the building.

The listing says this unit was “recently updated.”

The first floor is open concept with the living and dining rooms and the kitchen. It also has a half bath and a fireplace.

It has a boxed ceiling and there are oak hardwood floors.

The kitchen has “high quality” cabinets, stainless steel appliances and granite counter tops along with a large island.

The unit has a “huge” front balcony off the main level that overlooks Division Street, including all the restaurants, coffee shops, bars and shops there. The listing says it is a new composite deck.

The second floor includes both bedrooms and a den or office and both full bathrooms.

The primary suite has a walk-in-closet and en suite bath with jacuzzi tub.

The listing says the unit has been freshly painted.

It has the features buyers look for including central air, washer/dryer in the unit and one garage parking space is included.

This building is in the middle of the Division Street action and is near shops and restaurants of Ukrainian Village and Wicker Park.

Listed in October 2022 for $549,000, it has been reduced to $529,900.

Is this a townhouse alternative?

Jennifer Ublasi and Stephanie Juckem at Jameson Sotheby’s have the listing. See the pictures here. (sorry, no floor plan)

Unit #4: 2 bedrooms, 2.5 baths, duplex up, 1650 square feet

• Sold in December 1999 for $245,000
• Sold in May 2005 for $405,000
• Sold in September 2014 for $390,000
• Originally listed in October 2022 for $549,000
• Reduced
• Currently listed at $529,900 (garage parking included)
• Assessments of $275 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,505
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 14×11 (second floor)
• Bedroom #2: 25×10 (second floor)
• Living room: 21×14 (main floor)
• Dining room: 10×11 (main floor)
• Kitchen: 11×12 (main floor)
• Den: 8×6 (second floor)
• Laundry: 6×8 (second floor)
• Deck: 24×32 (main floor)

This 2-bedroom duplex up loft at 1137 N. Wood in the East Village neighborhood of West Town came on the market in July 2022.

Converted into lofts in 2000, 1137 N. Wood has 16 units and attached garage parking. The building has an elevator and bike room.

This is an end-unit with soaring ceilings and exposed ductwork on the first level. The listing says it is “like living in an art gallery” and the space can be used as you desire.

The first level has the living/dining room and kitchen along with a half bath and a west facing industrial window.

The kitchen has been “recently rehabbed” with two-color cabinetry which looks like black (or dark blue?) cabinets on the bottom and white on the top, along with a designer white tile backsplash, stainless steel appliances, and granite counter tops.

There are hardwood floors throughout both levels.

Both bedrooms are on the second floor and are fully enclosed.

The primary suite has north and west windows, 14 foot ceilings, a walk-in-closet, and en suite bath with double bowl vanity, separate tub and shower.

The large private deck is accessed from the second floor and runs the length of the unit.

This loft has all the features that buyers look for including central air, washer/dryer in the unit and attached garage parking.

This building is steps away from all the shops and restaurants of Division Street as well as Wicker Park and Ukrainian Village.

Originally listed in July 2022 for $549,900, it has been reduced $50,000 to $499,900.

Is this loft a good townhouse alternative?

Nicholas Apostal at Keller Williams ONEChicago has the listing. See the pictures here.

Unit #1A: 2 bedrooms, 2.5 baths, no square footage listed, duplex up

• Sold in November 2001 for $295,000
• Sold in June 2008 for $408,000
• Originally listed in July 2022 for $549,900
• Reduced
• Currently listed at $499,900 (garage parking included)
• Assessments of $362 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $9121
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 19×14 (second floor)
• Bedroom #2: 13×12 (second floor)
• Living/dining combo: 13×30 (main floor)
• Kitchen: 11×8 (main floor)

This 2-bedroom in Astor Villa at 1430 N. Astor in the Gold Coast came on the market in December 2022.

Built in 1974 by Arpen Group Architects, Astor Villa is a boutique condo building with just 50 units and attached garage parking.

It has door staff, an exercise room and a rooftop deck with city views.

There are only 3 units per floor.

According to the listing, this unit was fully renovated in 2015 and got new electrical, plumbing, windows and walls were removed.

It has an oversized foyer with porcelain floors and there are also porcelain floors in the kitchen. The living/dining room have cherry floors.

The kitchen has cabinets in wenge high gloss, KitchenAid appliances, quartz counter tops and a glass backsplash.

It has a primary suite which has black parquet wood floors, auto control shades, a walk-in-closet and an en suite bathroom with a double vanity, porcelain floors, quartz counter tops and a separate shower.

The second bedroom is being used as a library/media room and also has black parquet floors.

The second bathroom has quartz and porcelain tiles.

It has an east facing balcony and the listing says the unit has “views of Lake Michigan, the Gold Coast and the Chicago skyline.”

The unit has the features that buyers look for including washer/dryer in the unit and it looks like garage parking is included. It doesn’t have central air but does have wall heating/cooling.

Listed at $550,000, another unit on this floor is under contract listed at $525,000. You can see the pictures of #17B here.

Is this property priced to sell?

Craig Hogan and Rodolfo Zavala at Coldwell Banker have the listing. You can see the pictures here (sorry, no floor plan.)

Unit #17A: 2 bedrooms, 2 baths, 1500 square feet

• Sold in September 1992 for $45,000
• Sold in August 2015 for $322,000
• Currently listed at $550,000
• Assessments of $1715 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $8378
• No central air but wall units
• Full size stackable washer/dryer in the unit
• Bedroom #1: 20×12
• Bedroom #2: 14×11
• Kitchen: 18×9
• Dining room: 13×10
• Living room: 25×16
• Laundry room: 3×3
• Balcony

This 1-bedroom in 450 W. Briar in East Lakeview came on the market in December 2022.

Built in 1969 (although some listings say 1968 and others say 1972), 450 W. Briar has 142 units and an attached parking garage.

It has an exercise room and a rooftop pool. The building was converted to condos in 2005, during the housing boom.

This unit is a junior 1-bedroom which is 475 square feet.

The living room and bedroom have hardwood floors and the listing says there is new tile in the kitchen.

The kitchen has wood cabinets, stainless steel appliances and granite counter tops along with a breakfast bar.

The listing says it has new track lighting and outlets and has been painted before listing.

It has wall heating/cooling, no parking and no washer/dryer in the unit. But some units in the building DO have it in-unit. There is a laundry room in the building.

It does not have private outdoor space.

This building is near the shops and restaurants of East Lakeview, including the Mariano’s, as well as Belmont Harbor and the lakefront trail.

Listed as a short sale in December 2022 at $160,000, that’s just $5,000 more than the 2009 purchase price of $155,000.

Is this a deal?

Ryan Kissinger at 33 Realty has the listing. It appears to be agent owned. See the pictures here. Floor plans are available if you google the building.

Unit #4L: 1 bedroom, 1 bath, 475 square feet

• Sold in October 2005 for $355,000 (typo? Really $155,000?)
• Sold in February 2009 for $155,000
• Listed in December 2022 as a “short sale” at $160,000
• Assessments of $292 a month (includes exercise room, exterior maintenance, lawn care, scavenger, snow removal, pool, laundry room)
• Taxes of $3017
• No central air but wall units
• No washer/dryer in the unit but laundry room in the building
• No parking
• Pets allowed
• Bedroom: 7×14
• Living room: 10×17
• Kitchen: 7×11

This 2-bedroom duplex down in the Oak Club at 125 W. Oak in the Gold Coast came on the market in March 2022.

Built in 1992, The Oak Club has 52 condos with a gated central courtyard. There is garage parking. I always assumed these were townhouses, given that some have attached garages, but this property is listed as a condo.

This unit has 1770 square feet on two levels.

The main level has the living room, dining room, half bath, kitchen and primary suite.

The second bedroom is on the lower level along with the laundry and access to the garage.

There is a fireplace in the living room.

The listing says the kitchen has been “updated” and has granite counter tops, a breakfast bar that seats 3, wood cabinets, stainless steel appliances.

There is a bar area with a wine refrigerator in the dining room.

The primary bedroom has an en suite bathroom with a walk-in-shower and separate tub along with 2 walk-in-closets, one of which was turned into a home office.

The lower level bedroom has a custom closet and en suite bath.

I don’t see any private outdoor space on the floor plan but the Oak Club is across the street from Washington Park, which is popular with neighborhood residents and is dog friendly.

This unit has the features buyers look for including central air, washer/dryer in the unit and private attached garage parking, which has storage.

The listing says there was a new furnace in 2021 and the association put on a new roof only “a few years ago.”

The listing also says: “Seller is providing a one year home warranty at closing.”

This complex is near the shops and restaurants of the Gold Coast and River North, near the Mag Mile, Oak Street Beach and other amenities.

Originally listed in March 2022 for $729,900, it has been reduced to $664,900. That is under the 2007 purchase price of $685,000.

Is this a deal?

Lauren Dayton and Burt Bhairoo at Jameson Sotheby’s have the listing. See the pictures and floor plan here.

Unit F: 2 bedrooms, 2.5 baths, 1770 square feet, duplex down

• Sold in October 1995 for $325,000
• Sold in May 1998 for $347,500
• Sold in May 2005 for $592,500
• Sold in August 2007 for $685,000
• Originally listed in March 2022 for $729,000
• Reduced several times
• Currently listed at $664,900
• Assessments of $602 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $14,120
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 16×13 (main level)
• Bedroom #2: 16×15 ( lower level)
• Living room: 17×14 (main level)
• Dining room: 15×12 (main level)
• Kitchen: 13×10 (main level)
• Office: 7×5 (main level)
• Walk-in-closet: 7×5 (main level)
• Laundry room: 4×8 (lower level)

This 3-bedroom in The Montgomery at 500 W. Superior in River North originally came on the market in April 2019.

The Montgomery was built in 1972  as part of the corporate headquarters of department store Montgomery Ward. It’s architect was Minoru Yamasaki, who also designed the World Trade Center in New York City. He designed both around the same time.

It was converted into condos in 2006 during the housing boom. The building has 245 units and attached garage parking.

The building has door staff, an exercise room, a roof deck, and a sundeck with seating, firepits, grills, and a dog run.

This unit has 10 foot ceilings with south and west city and skyline views from floor to ceiling windows.

There’s a gallery foyer to enter the unit with a guest bath.

It has custom window treatments and a gas fireplace in the living room.

The kitchen has modern wood cabinets and a massive island that seats six, with new quartz counter tops, a Thermador gas range with dual ovens and indoor grill, a built-in Thermador professional wok cooktop, a commercial exhaust hood, a Subzero refrigerator and beverage fridge.

The kitchen also has a walk-in food pantry with a Thermador refrigerator and wine cooler.

The primary suite has an oversized bedroom with seating area, a spa bath with dual vanity, a Grohe system steam shower, a whirlpool tub and upgraded commode, a walk-in-closet, and a rare private balcony (this building only has balconies on the east and west ends.)

The second bedroom is also en suite.

The third bedroom is currently being used as a office/library and is open to the living room.

The unit has a Bang & Olufsen audio system throughout which is included in the sale.

It has the features buyers look for including central air, a Miele side-by-side washer/dryer in the unit and 2-car tandem parking space is available for $65,000.

This building is near the shops and restaurants of the western part of River North and the Chicago River.

Originally listed in April 2019 for $2.499 million, it has been reduced $900,000 and is now listed at $1.599 million.

The listing says: “An incredible value at less than $500 per sqft, this highly upgraded 3,550 sqft Montgomery condo lives like a home on a grand scale!”

Is this a deal?

Jennifer Ames at Engel & Voelkers has the listing. See the pictures and floor plan here.

Unit #2401: 3 bedrooms, 2.5 baths, 3500 square feet

• Sold in July 2006 for $1.561 million
• Originally listed in April 2019 for $2.499 million
• Reduced several times
• Currently listed at $1.599 million
• Assessments of $3501 a month (includes heat, gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $30,062
• Central Air
• Washer/dryer in the unit
• 2-car tandem parking available for $65,000 extra
• Gas fireplace
• Bedroom #1: 26×22
• Bedroom #2: 15×12
• Bedroom #3: 22×12
• Living room: 16×39
• Dining room: 27×13
• Kitchen: 16×20
• Pantry: 8×13
• Walk-in-closet: 9×16
• Foyer: 9×6
• Laundry: 11×9
• Balcony: 18×5

This 3-bedroom in 900 N. Lake Shore Drive in Streeterville came on the market in May 2022.

Built in 1956, 900 N. Lake Shore Drive is one of the two Mies van der Rohe high rises on the lake front. It has 371 units.

The building has door staff and leased garage parking on site.

This 3-bedroom unit is a combination of two units. The listing says it is the “finest renovation of any residence” with no detail overlooked or expense spared.

The listing says it has seen over $500,000 in extensive redesign to combine the two units.

The renovation was done by the design team at Boffi Chicago.

The kitchen is separate from the living/dining room and has white custom Boffi cabinetry, paneling and trim along with Miele, Gaggenau and Subzero appliances, quartzite counter tops and smart lighting, along with some open shelves.

The living and dining room has floor to ceiling windows that overlook the Lake.

According to the listing, the primary suite was once a studio apartment and the suite opens to the living room space with a full height pivoting wall. The suite also has a custom dressing room and bathroom with walk-in-shower.

The unit has custom sound/HVAC and in-unit washer/dryer. Parking is leased in the building.

Originally listed in May 2022 for $1.025 million, it has been reduced to $949,000.

For mid-century modern lovers, is this a dream unit?

Brad Lippitz and Anne Killarney at Compass have the listing. See the pictures here. It says there is a floor plan but the picture is missing.

Unit #1109-11: 3 bedrooms, 2.5 baths, 1779 square feet

• Sold in June 1989 for $147,000 
• Sold in February 2022 for $355,000
• Sold in March 2014 for $800,000
• Originally listed in May 2022 for $1.025 million
• Reduced
• Currently listed at $949,000
• Assessments of $1253 a month (includes heat, a/c, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9737
• Central Air
• Washer/dryer in the unit
• Leased parking
• Bedroom #1: 21×16
• Bedroom #2: 18×10
• Bedroom #3: 12×11
• Living/dining room: 21×20
• Kitchen: 13×8
• Walk-in-closet: 11×7
• Foyer: 9×5

This 2-bedroom in the Tower Residences at 680 N. Lake Shore Drive in Streeterville came on the market in September 2022.

680 N. Lake Shore Drive is a unique building.

According to Wikipedia, it was completed in 1926. it was originally called the American Furniture Mart and was the largest building in the world when finished.

It has a total of 415 units in 3 different condo associations: The Tower, The Lake and the South Residences.

The South Residences has 120 units, the Tower has 131 units, and the Lake, 264.

This is a full amenity building with a pool, exercise room and 24-hour door staff.

There is commercial space in the building as well as a shopping concourse with a coffee shop, Walgreens, a bank and other amenities. Has it all reopened after COVID?

This unit is a full floor unit in the tower with 360 degree lake and city views.

Created by Vinvi/Hamp architects, the listing says that “no expense” was spared.

It has a private elevator that opens into the resident’s vestibule which is clad in cerused oak paneling.

The kitchen has Parenti & Raffaelli custom Macassar ebony millwork, honed granite countertops, a concealed cooktop and Subzero refrigerator.

The primary suite has walls covered in Belgian linen, a Poliform closet system and a spa bath with Calacatta marble slabs and Dornbracht hardware.

The second bedroom is currently being used as a library but can be restored to a bedroom.

The listing lays out the special features including: “a full Lutron HomeWorks System, multi-media visual & audio systems, Iris lighting, computerized pocket window shades, zoned HVAC, and HEPA air purification system.”

It also has the features that buyers normally look for, including washer/dryer in the unit and garage parking, which is included.

Listed in September 2022 at $1.775 million, it was last on the market in 1998.

Is this a rare opportunity to get a home in the sky without sharing any walls with others?

Brad Lippitz and Stewart Smith at Compass have the listing. See the pictures and floor plan here.

Unit #2300: 2 bedrooms, 1.5 baths, 2575 square feet

• Sold in October 1991 for $415,000
• Sold in October 1998 for $500,000
• Originally listed in September 2022 for $1.775 million
• Currently still listed at $1.775 million
• Assessments of $1403 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $9085
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×16
• Bedroom #2: 9×12
• Foyer: 25×9
• Gallery: 22×9
• Living room: 24×17
• Dining room: 24×14
• Kitchen: 15×8
• Laundry room: 8×6