Crib Chatter

This 3 bedroom unit at 1030 N. State in the Gold Coast could be your home in the sky.

At 2500 square feet, it has 2 balconies and lake and city views.

The unit also has upgrades you don’t often see such as solid cherry doors and marble and hardwood floors with inlay.

The kitchen has cherry cabinets and granite counter tops.

The building was built in the early 1970s and has about 624 units.

There is no deeded parking – it is leased in the building.

But right outside the door is a host of shops and restaurants at your fingertips.

Originally listed last June, this unit has been reduced $125,400.

Can this unit compete with all the newer construction in the area?

Nick Steffes at Re/Max Vision has the listing. See more pictures here.

Unit #30EFG: 3 bedrooms, 3 baths, 2500 square feet

• Sold in 1991 but I couldn’t find a price (combined unit)
• Originally listed in June 2010 for $1,124,900
• Reduced
• Currently listed for $999,500
• Assessments of $1618 a month (includes heat, a/c, doorman, cable, pool)
• Taxes of $11817
• Central Air
• Washer/Dryer in the unit
• Parking is leased in the building for $290 a month (per spot)
• Bedroom #1: 27×13
• Bedroom #2: 14×12
• Bedroom #3: 13×9

This 3-flat at 1929 W. Berteau in North Center came on the market in early February 2011.

It is currently listed for $51,000 under the 2005 purchase price.

Built in 1893 on a standard 25×125 lot, the listing indicates the 3-flat has been used as an owners unit plus a basement rental and that there are only 2 kitchens in the property.

Here are the actual configurations of the units:

• Unit #1: 1 bedroom, 1 bath- rents for $500
• Unit #2: 1 bedroom, 1 bath- rents for $1100
• Unit #3: 2 bedrooms, 1 bath- rents for $1100

There is no central air and only a single heating system.

The 3-flat has some of its vintage features intact with woodwork, wood doors and what looks to be some original hardwood floors.

Does this property make sense for an investor?

Or perhaps a conversion into a single family home?

Ellen Webber at @Properties has the listing. See the pictures here.

1929 W. Berteau: 3-flat, 4 bedrooms, 3 baths, 2 car garage

• Sold in September 1994 for $171,500
• Sold in December 1997 for $270,000
• Sold in April 2005 for $550,000
• Originally listed in February 2011 for $499,000
• Currently still listed for $499,000
• Taxes of $7238
• No central air

This 2-bedroom townhouse at 1510 S. Sangamon in the University Village neighborhood has been on and off the market since November 2010.

It is bank owned.

In that time, it has been reduced $50,700.

It is now listed for about 30% under the 2005 purchase price.

From the listing pictures, it appears that the kitchen and at least one bathroom are intact.

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

Both of the bedrooms are on the top floor of this 3 story townhouse with a family room on the bottom (or main) level.

The townhouse also has a rooftop deck and an attached 2-car garage.

Is this a deal?

Michael Lohens at Re/Max Properties Northwest has the listing. See the pictures here.

1510 S. Sangamon: 2 bedrooms, 2.5 baths, 2202 square feet, 2 car garage

• Sold in November 2005 for $617,500
• Originally listed in November 2010 for $477,900
• Reduced
• Currently listed as bank owned for $427,200
• Assessments of $261 a month
• Taxes of $8002
• Central Air
• Washer/Dryer
• Bedroom #1: 17×10 (third floor)
• Bedroom #2: 15×10 (third floor)
• Family room: 13×12 (main level)

This 2-bedroom loft in the Haberdasher Square Lofts at 728 W. Jackson in the West Loop has been on the market since October 2010.

The Haberdasher Square Lofts is one of those loft buildings that has some concrete lofts and some timber lofts depending on the location in the building.

This unit is on the concrete side. Those dark 12 foot ceilings are painted concrete ceilings.

At 1429 square feet, the loft has the original matchstick floors.

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

There is also the coveted side-by-side washer/dryer in its own laundry room.

The loft has central air and a balcony along with a tandem parking spot (which is extra.)

It is listed for $5,000 under the 2004 purchase price.

Is this a deal?

Christine Hancock at Prudential Rubloff has the listing. See more pictures here.

Unit #1003: 2 bedrooms, 2 baths, 1429 square feet

• Sold in June 1996 for $246,500
• Sold in April 2004 for $335,000
• Originally listed in October 2010 for $339,900
• Reduced
• Currently listed for $285,000 plus $45,000 for tandem parking
• Assessments of $599 a month  (includes cable, A/C, heat, doorman)
• Extra $70 a month assessment with the parking
• Taxes of $3973
• Extra taxes of $494 if you buy the parking
• Central Air
• In-unit washer/dryer
• Bedroom #1: 15×11
• Bedroom #2: 13×9

As the Groove pointed out in the old post, this 3-bedroom tudor at 3019 W. Ardmore in Peterson Woods finally sold.

See our prior chatter and pictures here.

It was an estate sale.

The house needed work but it had wonderful vintage bones including leaded glass, arched doorways, coved ceilings and the original kitchen and baths.

Built on a 45×192 oversized lot, it has a 2-car detached garage but no central air.

While many of you drooled over it, some of you felt that for the work that was needed to bring it into the current century, it would need to be priced well under the former list price.

One of you even suggested $200,000.

The house sold in February 2011 for $400,000.

Terry Silis at Baird & Warner had the listing.

3019 W. Ardmore: 3 bedrooms, 2.5 baths, 2 car garage, no square footage listed

• It is an estate sale- original sales price is before 1990
• Originally listed in August 2010
• Was listed in September 2010 for $489,000
• Reduced
• Was listed in November 2010 for $445,000
• Sold in February 2011 for $400,000
• Estate sale
• Taxes of $6759
• No central air
• Bedroom #1: 15×15
• Bedroom #2: 12×13
• Bedroom #3: 13×11

Crain’s is reporting that the 82 unsold units in the Silver Tower at 303 W. Ohio in River North are on the market as a block and could sell for as much as $16 million.

From Crain’s:

The project’s court-appointed receiver, Steven Baer, managing member of Chicago-based Rally Capital Services LLC, hired CB Richard Ellis Inc. to sell the units in bulk in anticipation of Bank of America Corp. taking possession of the building. The bank filed a $40-million foreclosure lawsuit in January 2010, alleging that Silver Tower’s developer failed to pay off a past-due loan.

“You get your money out faster” if you sell in bulk, says Gail Lissner, a vice-president at Chicago-based consulting firm Appraisal Research Counselors.

It couldn’t be determined why B of A wants to sell the remaining units in bulk. A spokeswoman didn’t return a message.

Of course, any new buyer of the bulk units would have several options:

1. Try to resell them to individual buyers themselves

2. Rent them out

Sales have picked up in the building over the past year.

When the suit was filed, only 75 units, or about a third of the building, had sold. But sales ramped up last year after Jameson took over the marketing and the building cut prices by up to 35%. Buyers closed on 72 more units, and another 15 are under contract, Mr. Baer says.

All together, buyers have closed on 147, or roughly 65%, of the 229 units at Silver Tower, according to Mr. Baer.

Is going rental for part of condo buildings the wave of the future for some of these buildings?

This is the third high rise building we’ve seen with a possible bulk sale of units.

Silver Tower’s unsold units for sale as a block [Crain’s Chicago Business, Andrew Schroedter, March 8, 2011]

This 3-bedroom bank owned unit at 1400 N. Lake Shore Drive in the Gold Coast recently went under contract after being reduced $60,000 by the bank since October 2010.

It is also currently listed 62% under the 2008 purchase price.

One of the rare 3-bedroom units in the building, it had been completely gutted and the listing said it was in the “drywall stage.”

The building was built in 1927 but was apartments for decades before being converted to condos right at the peak of the housing boom.

This unit does not have central air, in-unit washer/dryer or parking.

But it does have a location right on Lake Shore Drive.

There are several 2-bedroom short sales also currently listed in the building for under $215,000.

Are these deals given the location?

Rhett Schrock at Jameson Sotheby’s has the 3-bedroom listing. See the pictures here.

Unit #12N: 3 bedrooms, 2 baths, no square footage listed

• Sold in October 2008 for $463,000
• Lis pendens foreclosure filed in September 2009
• Bank owned in June 2010
• Originally listed in October 2010 for $239,900
• Reduced numerous times
• Finally reduced to $179,900 in February 2011
• Under contract
• Assessments of $600 a month (includes gas, doorman)
• Taxes of $5030
• No central air- window units
• No in-unit washer/dryer
• No parking
• Bedroom #1: 13×11
• Bedroom #2: 12×14
• Bedroom #3: 10×12

This 3-bedroom vintage single family home at 1566 N. Hoyne in Wicker Park recently came on the market.

While the exterior of the home was built in 1891, the interior was a complete gut rehab in 2005.

The living room/dining room now has 18 foot cathedral ceilings and skylights.

The kitchen is open to the living space and has stainless steel appliances and granite counter tops.

You enter into the house on the second floor which is where the master bedroom, along with the kitchen/living/dining areas are located.

The other 2 bedrooms and the family room are on the “main” floor below.

The family room looks out on the landscaped backyard and large brick patio.

Built on a 24×150 lot, the house has central air and a 2-car garage.

The house is located just a block from the blue line stop at Damen as well as all the shops and restaurants of Bucktown and Wicker Park.

It is currently listed for $72,600 under the 2007 purchase price.

Is this house a deal for the location?

Jeff Lowe at Prudential Rubloff has the listing. See the pictures here.

1566 N. Hoyne: 3 bedrooms, 2.5 baths, no square footage listed, 2 car garage

• Sold in June 1991 for $62,000
• Sold in August 1998 for $250,000
• Bank owned in September 2002
• Sold in May 2003 for $355,000
• Sold in August 2005 for $720,000
• Sold in March 2007 for $772,500
• Currently listed for $699,900
• Taxes of $9338
• Central Air
• Bedroom #1: 15×12 (second floor)
• Bedroom #2: 12×12 (main floor- or lower level)
• Bedroom #3: 18×13 (main floor)
• Family room: 20×15 (main floor)
• Kitchen: 12×12 (second floor)
• Living/Dining room: 19×14 (second floor)

We last chattered about this 2-bedroom townhouse at 1814 N. Bissell in Lincoln Park in November 2010.

See our November 2010 chatter here.

It had been bank owned previously and sold under the 1999 price.

It was then renovated with a new kitchen, baths, and what looked like flooring and lighting.

The townhouse looked brand new.

But there was still the location- which was directly on the Brown Line el on the back side of the property.

Still, the townhouse sold quickly for just $24,900 under the November listing price.

Was this sales price in line with the neighborhood? 

Brian Grossman at @Properties had the listing.

1814 N. Bissell: 2 bedrooms, 2 baths, 1 car parking, no square footage listed

• Sold in April 1989 for $182,500
• Sold in December 1999 for $239,720
• Lis pendens filed in April 2006
• Bank owned in May 2009
• Sold in June 2010 for $220,000
• Was listed in November 2010 for $449,900
• Sold in March 2011 for $425,000
• Assessments of $100 a month
• Taxes of $4405
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×13 (fourth floor)
• Bedroom #2: 16×10 (third floor)
• Family room: 16×16 (lower level)

This 2-bedroom loft at 375 W. Erie in River North has been on and off the market since August 2008.

It is a 1500 square foot end unit with authentic loft features such as exposed brick and a timber ceiling.

The listing doesn’t say if it is north or south facing (north faces the street but south faces into buildings across the alley.)

The kitchen has granite counter tops and stainless steel appliances.

The loft has central air and washer/dryer in the unit. It also has a 2-car tandem parking spot available.

Including the parking, this unit is currently listed $9,900 over the 2006 purchase price.

What will it take to finally sell this loft?

Lucas Blahnik at Blahnik Properties has the listing. See the pictures here.

Unit #213: 2 bedrooms, 2 baths, 1500 square feet

• Sold in March 1998 for $254,000
• Sold in May 2002 for $355,000
• Sold in September 2005 for $430,000
• Sold in September 2006 for $410,000
• Originally listed in August 2008
• Was listed in October 2008 for $475,000
• Withdrawn in July 2009 listed at $450,000
• Lis pendens foreclosure filed in December 2009
• Listed in January 2011 for $399,900
• Reduced
• Currently listed for $379,900 (plus $40,000 for parking)
• Assessment of $469 a month (includes parking, doorman)
• Taxes of $5795
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×13
• Bedroom #2: 15×12