Crib Chatter

This 3-bedroom in The Regent, a smaller mid-rise building at 190 E. Walton in the Gold Coast, has been on the market since October 2010 and has been reduced once.

It is bank owned.

The 3000 square foot unit has hardwood floors throughout and custom built-ins.

The kitchen has granite counter tops and a stainless steel breakfast bar.

There are marble baths and a 8×22 terrace.

Parking is included.

This building doesn’t have a doorman or any other amenities.

Is this a deal?

Tina Culver at Sergio & Banks has the listing. See the pictures here.

Unit #501: 3 bedrooms, 3 baths, 3000 square feet, 1 car parking

• Sold in October 1998 for $765,000
• Sold in September 2005 for $1.575 million
• Lis pendens foreclosure filed in September 2009
• Bank owned in October 2010
• Originally listed in October 2010 for $1.395 million
• Reduced
• Currently listed at $1.25 million
• Assessments of $919 a month (includes water, building maintenance)
• Taxes of $17,162
• Central Air
• Bedroom #1: 14×13
• Bedroom #2: 10×12
• Bedroom #3: 11×13
• Family room: 14×20

We have chattered about this 2-bedroom vintage unit at 2861 N. Burling in Lakeview several times over the past 11 months.

See our September 2010 chatter here.

It was removed from the market but has now been relisted and has been reduced another $25,000. It is now listed at $299,900.

Last September, some of you thought this would sell around $250K but at least one of you thought a deal would get done around $290K.

The unit has 9 foot ceilings and many of its vintage features including a pier mirror and beamed dining room ceiling.

It has a lot of the features buyers look for including washer/dryer in the unit and heated garage parking.

The kitchen has white cabinets and appliances.

The only thing it’s missing is central air (window units only.)

Is this finally a deal?

James Meese who is now at Jameson still has the listing. See the pictures here.

Unit #2N: 2 bedrooms, 1 bath, 1400 square feet

• Sold in June 1992 for $159,000
• Sold in November 2005 for $354,000 (parking included)
• Originally listed in March 2010 at $369,900
• Reduced
• Was listed in May 2010 at $339,000 (parking included)
• Reduced
• Was listed in September 2010 at $324,900 (parking included)
• De-listed
• Reduced
• Currently listed at $299,900 (heated garage parking included)
• Assessments of $367 a month (includes heat, cable)
• Taxes of $4091
• No central air- window units
• Washer/Dryer in the unit
• Bedroom #1: 13×11
• Bedroom #2: 13×12

This 4-bedroom vintage Victorian single family home at 4446 N. Damen last sold in October 2009.

At that time, it was being sold “as-is” and the listing said it needed rehab.

It looked to be an estate sale.

It came back on the market briefly in November 2010 and then came back for good in January 2011 with new windows, plumbing and electric.

The house is now listed as a 4 bedroom/ 3.5 baths whereas in 2009 it was listed as 5 bedrooms/1.5 baths.

In 2009, it had no central air.

In 2011, it has central air.

It also has a full basement and a live-in nanny suite.

The current listing says it’s on an oversized 30×170 lot (but the 2009 listing said it was on a 35×124 lot.)

There doesn’t appear to be a garage, however.  Just space for parking behind the house.

Is this a deal for the location and square footage?

Thomas Driscoll has the listing. See the pictures here.

4446 N. Damen: 4 bedrooms, 3.5 baths, 3000 square feet

• Sold sometime before 1989
• Originally listed in March 2009 for $625,000
• Sold in October 2009 for $305,000 (if you have a redfin account- you can see the prior listing but no interior pics available)
• Originally listed for 2 weeks in November 2010
• Re-listed in January 2011 for $699,500
• Currently listed at $699,500
• Taxes of $1825
• Central Air
• No garage- just outdoor parking pad
• Bedroom #1: 12×15 (second floor)
• Bedroom #2: 12×14 (second floor)
• Bedroom #3: 12×13 (second floor)
• Bedroom #4: 12×12 (third floor)
• Suite: 12×13 (third floor)

This 4-bedroom Victorian single family home at 2337 N. Monticello in Logan Square was bank owned in May 2010.

It sold to a new buyer for just $130,000 in July 2010.

It has come back on the market after a renovation listed at $375,000.

The house now has ebony floors throughout the main level and a completely new kitchen opened up to the dining/living area with dark cabinets, 2 inch granite counter tops and stainless steel appliances.

There is a finished lower level with a 12×11 family room, an office/bedroom and a full bath alongside a laundry room.

The other three bedrooms are on the second level.

There is central air and a 2-car garage on a 30×125 lot.

Is this a steal for a first time homebuyer?

Chadwick Duda at Prudential Rubloff has the listing. See the pictures here.

To see the “before” pictures- if you have a redfin account- you can see them there in the prior listing. It’s quite interesting to see the changes.

2337 N. Monticello: 4 bedrooms, 3 baths, 2 car garage, no square footage listed

• Sold in October 1993 for $88,000
• Lis pendens filed in November 2008
• Bank owned in May 2010
• Originally listed in July 2010 for $135,900
• Sold in July 2010 for $130,000
• Originally listed in January 2011 for $375,000
• Currently still listed for $375,000
• Taxes of $2717
• Central Air
• Bedroom #1: 14×13 (second floor)
• Bedroom #2: 10×10 (second floor)
• Bedroom #3: 10×10 (second floor)
• Bedroom #4: 13×10 (lower level)
• Family room: 12×11 (lower level)

This 4-bedroom luxury new construction single family home at 738 W. Belden in Lincoln Park has been on the market since September 2008.

In that time period, it has been reduced a little over 50% to $1.75 million from $3.69 million.

The listing says it is a “super deal” and that it has been appraised at $2.5 million.

It also says “Don’t be shy about an offer!”

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

It has 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.

Is this a deal?

Kathleen Tannyhill at Baird and Warner has the listing. See the pictures here.

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
• Currently still listed “as-is” at $1.75 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)

We chattered about this 2-flat at 343 W. Menomonee in the heart of the Old Town Triangle several times in the last year.

See our September 2010 chatter here.

At least one of you argued this would sell in the $800,000s and others countered that would be way too low because the land itself was worth at least $800k.

Originally listed for over the 2007 purchase price at $1.293 million in January 2010, it was reduced several times and finally sold for $140,000 under the 2007 price at $915,000.

The property had two units consisting of the following:

1. 2 bedrooms/2 baths duplex owners unit
2. 3 bedrooms/3 baths first floor duplex down rental unit currently rented for $2400 a month

The owners unit has upgraded stainless steel appliances by Viking and granite counter tops. Each unit has its own washer/dryer.

There was no garage or parking but there was a backyard on a 25×100 lot.

The listing says it could be an easy deconversion to a single family home.

Phyllis Hall at Koenig & Strey still had the listing.

343 W. Menomonee: 5 bedrooms, 5 baths, 3600 square feet

• Sold in January 1997 for $425,000
• Sold in July 2007 for $1,055,000
• Was listed in January 2010 for $1,293,000
• Reduced
• Was listed in September 2010 for $1,050,000
• Sold in February 2011 for $915,000
• Taxes of $13,758
• Central Air
• 3-bedroom rental unit income of $2400 a month
• No parking- rental nearby

The Chicago Tribune interviewed former Bears tight end Emery Moorehead, who has been a realtor on the North Shore since the mid-1980s.

There is a lot of inventory in the upper bracket and we’ve chattered about reductions on million dollar properties in Chicago numerous times but the North Shore has even more inventory.

According to the realty board, only 30 homes sold for $1 million or more in 2010, one fewer than in 2009. And those 30 homes were the fewest number of million-dollar homes sold since 2004.

Pricing remains key, and Moorehead noted the difficulty in representing sellers who want to hold out for a certain price when comparable, well-maintained foreclosures are selling for substantially less. Last year, the median price of upper-bracket homes sold was $1.3 million. That was an 11 percent improvement from 2009 but still down substantially from the peak median high-end home price of almost $1.48 million in 2007.

In Lake Forest alone, more than 150 single-family, detached homes priced at $1 million or more are actively being marketed for sale, including many that have had price reductions.

“For 21 years it was a seller’s market,” Moorehead said. “Now, young people have opportunities to get into communities they could not get into four years ago. These are times you will not see again.”

How much are upper bracket foreclosures influencing sales?

From tight end to high end for realtor [Chicago Tribune, Mary Ellen Podmolik, February 6, 2011]

We recently chattered about this 2008 newer construction midrise building at 3512 N. Southport in the Southport neighborhood of Lakeview because the penthouse unit came on the market.

But back in September 2009, we chattered about a second floor unit in the building.

See our prior chatter here.

This 3-bedroom unit first sold in 2008 and was listed for sale again just a year later.

It went under contract rather quickly in 2009 and sold just 2 months later for $53,000 less than the 2008 sale.

Now, just over a year later, it has come back on the market again.

This time, the list is $29,900 more than the 2009 purchase price.

The kitchen has white cabinets, stone counter tops and backsplash and Viking stainless steel appliances.

At 1900 square feet, the unit also has stone baths and 2-car covered parking.

Will this sell as quickly as it did in 2009?

Michael Drommerhausen at Prudential Rubloff has the listing. See the pictures here.

Unit #2S: 3 bedrooms, 2 baths, 1900 square feet, 2 car tandem parking

• Sold in July 2008 for $673,000
• Originally listed in July 2009 for $650,000
• Reduced
• Was listed in September 2009 for $625,000
• Sold in November 2009 for $620,000
• Currently listed for $649,900
• Assessments of $223 a month
• Taxes of $9888
• Bedroom #1: 16×16
• Bedroom #2: 14×11
• Bedroom #3: 14×11
• Living room: 19×14
• Dining room: 19×8
• Kitchen: 14×10
• Laundry: 6×5

This block of rowhouse condo units at 2149 N. Seminary is classic Lincoln Park.

Built in 1895, this unit has tall ceilings, a fireplace, crown molding and a ceiling medallion in the living room.

The kitchen is newer and has granite counter tops and stainless steel appliances.

While there is an in-unit washer/dryer there is no deeded parking and no central air (window units only.)

First listed in July 2010, it has been reduced $46,000.

It is now listed only $5,000 over the 2020 purchase price.

Is this a deal?

Leigh Marcus at @Properties has the listing. See the pictures here.

Unit #B: 2 bedroom, 1 bath, no square footage listed

• Sold in September 1996 for $186,000
• Sold in October 1999 for $235,000
• Sold in September 2000 for $260,000
• Sold in March 2002 for $284,000
• Sold in June 2007 for $347,000
• Originally listed in July 2010 for $335,000
• Reduced several times
• Currently listed for $289,000
• Assessments of $268 a month
• Taxes of $4209
• No central air- only window units
• Washer/Dryer in the unit
• No parking
• Bedroom #1: 16×12
• Bedroom #2: 14×10
• Dining room: 7×7

We chattered about this 2-bedroom unit at 950 W. Barry in Lakeview in August 2010.

See our prior chatter here.

At that time, it had just come on the market as a bank owned unit.

Many of you thought the asking price of $375,000 was too high given its proximity to the El and a bunch of nearby bars and that somewhere between $75,000 and $100,000 lower than $375k would get it done.

The unit has since been reduced $76,000.

From the pictures, it appears to have its kitchen and baths intact.

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

The unit also has custom millwork.

It has central air, washer/dryer in the unit and parking is included.

Is this a deal now?

William Volpe at Parkvue Realty still has the listing. See the pictures here.

Unit #2: 2 bedrooms, 2 baths, no square footage listed

• Sold in April 2008 for $438,000
• Lis pendens filed in March 2009
• Originally listed in July 2010 for $399,000
• Bank owned in August 2010
• Reduced
• Was listed in August 2010 for $375,000 (parking included)
• Reduced
• Currently listed at $299,000 (parking included)
• Assessments of $130 a month
• Taxes of $6234
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×12
• Bedroom #2: 12×8
• Living room: 18×19
• Kitchen: 14×16