Crib Chatter

In March 2010 we debated whether this 6-unit new construction building at 1005 W. Webster in Lincoln Park signaled a market bottom in Lincoln Park.

It was a rare new construction development and the price points for the 3-bedroom units started at $699,000 and went as high as $875,000.

See our prior chatter and pictures here.

Many of you thought the prices were simply too high for the location near the El and the bars on Webster.

Since then, 4 out of 6 of the units have sold and another unit is contingent.

Here are the details on those units which sold with the March 2010 listing price appearing first:

1. Unit #2E: $759,000– sold in July 2010 for $705,000
2. Unit #2W: $739,000– currently listed at $719,000 and under contract
3. Unit #3E: $749,000– sold in January 2011 for $705,000
4. Unit #3W: $699,000– still available but doesn’t appear to be listed
5. Unit #4E: $875,000– sold in July 2010 for $870,000
6. Unit #4W: $849,000– sold in August 2010 for $825,000

These 3-bedroom, 2 bath units have luxury finishes including Viking appliances and natural stone baths.

So I will ask again- did this building signal the bottom of the Lincoln Park market- at least in the upper bracket?

Jeff Lowe at Prudential Rubloff has the listings.

See pictures and a virtual tour of Unit #2W here.

This bank owned 1-bedroom at 1620 S. Michigan in the South Loop recently came on the market.

It is listed at $99,900, or $70,100, under the 2006 purchase price.

It has hardwood floors, central air and washer/dryer in the unit.

From the pictures, it looks like only the refrigerator is missing in the kitchen. There is a stainless steel stove and dishwasher and granite counter tops.

In the bathroom, the tub and vanity are visible in the picture.

The listing doesn’t say anything about parking with the unit.

Is this a deal for an investor?

Ayoub Rabah at Great Street Properties has the listing. See the pictures here.

Unit #1016: 1 bedroom, 1 bath, no square footage listed

• Sold in September 2006 for $170,000
• Lis pendens foreclosure filed in February 2010
• Bank owned in November 2010
• Currently listed at $99,900
• Assessments of $185 a month
• Taxes of $2358
• Central Air
• Washer/Dryer in the unit
• No parking included
• Bedroom: 11×11
• Living room: 19×14
• Kitchen: 10×5

We last chattered about this 2-bedroom in The Green Brier at 559 W. Surf in Lakeview in September 2010.

See our prior chatter here.

At that time, it had just been reduced $50,000.

One of you thought it would need to be reduced another $50,000 due to the higher assessments and taxes. Another thought it was a good deal at the list price.

Since September it has been reduced another $54,100.

The unit has a unique interior atrium that leads to a private roof top deck.

The kitchen has been updated with custom cabinets, stainless steel appliances and granite counter tops.

The bathrooms are marble.

It has central air, washer/dryer in the unit and parking is available for $20,000.

The unit is now listed $5,001 under the 2003 purchase price.

Is this a deal?

Joe Zimmerman at @Properties has the listing. See the pictures here.

Unit #900: 2 bedrooms, 2 baths, 1600 square feet

• Sold in March 1993 for $200,000
• Sold in May 2003 for $275,000
• Originally listed in September 2009
• Listed in April 2009 for $349,900
• Reduced
• Was listed in September 2010 for $299,900 (parking is $25,000 extra)
• Reduced
• Currently listed for $249,999 (plus $20,000 for parking)
• Assessments of $915 a month (includes the doorman)
• Taxes of $7586
• Central Air
• Woodburning fireplace
• Washer/Dryer in the unit
• Bedroom #1: 15×22
• Bedroom #2: 13×10

This 3-bedroom duplex down unit at 1849 N. Cleveland in Lincoln Park has been on the market since April 2010.

In that time, it has been reduced $30,000.

The unit has crown molding and 2 fireplaces.

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

2 bedrooms are on the main level and the third is in the lower level along with the family room and a wine cave.

The unit has a landscaped private patio and an assigned parking space.

Is this an attractive townhouse alternative?

Karen Peterson at Coldwell Banker has the listing. See the pictures here.

Unit #1N: 3 bedrooms, 2.5 baths, no square footage listed

• Sold in July 2002 for $615,000
• Sold in August 2005 for $736,000
• Originally listed in April 2010 for $779,000
• Reduced
• Currently listed for $749,000
• Assessments of $240 a month
• Taxes of $7995
• Central Air
• Washer/Dryer in the unit
• Parking included
• Bedroom #1: 17×12 (main level)
• Bedroom #2: 12×12 (main level)
• Bedroom #3: 11×10 (lower level)
• Family room: 25×18 (lower level)

We’ve chattered about the 2005 high rise conversion at 2625 N. Clark in Lincoln Park several times over the last few years.

I decided to post on it again because some of you were chattering about it in one of the other threads.

Also, this 1-bedroom on the 7th floor was recently reduced another $14,000 and still isn’t selling.

Now priced at $75,900, the 705 square foot 1-bedroom has carpeting and an unrenovated kitchen.

There is central air but no washer/dryer in the unit. And the listing doesn’t say anything about parking.

How low will the units go in this building?

Sheri Kamikow at Coldwell Banker has the listing. See the pictures here.

Unit #705: 1 bedroom, 1 bath, 705 square feet

• Sold in February 2006 for $272,500
• Lis pendens filed in November 2009
• Bank owned in October 2010
• Originally listed in December 2010 for $89,900
• Reduced
• Currently listed for $75,900
• Assessments of $446 a month (includes doorman, cable/tv)
• Taxes of $3757
• Central Air
• No washer/dryer in the unit
• No parking
• Bedroom #1: 21×12
• Living room: 17×17
• Kitchen: 8×8

We have chattered about this penthouse unit at 444 W. Belmont in Lakeview several times since it was first listed in August 2008.

See our November 2010 chatter and pictures here.

Back in 2008, Homedelete predicted it would sell under the 2000 purchase price of $383,000 (even though others vigorously disputed him.)

He was vindicated when it came back on the market last November as a bank owned unit and was listed at $369,000 although at least one of you thought it would actually sell for MORE than what the bank was asking.

The gold star goes to Homedelete, however, as it recently closed for just $311,000.

Built in 1928, the unit had barrel vaulted ceilings and a rooftop terrace measuring 23×29.

Yes, the terrace is private to the unit. Both #7A and #7B share the terrace (you can see the fence splitting the deck into 2 sections in one of the pictures.)

It had central air and an in-unit washer/dryer but no parking.

Was this a deal?

Parker Pearson at Pearson Realty Group had the listing.

Unit #7B: 2 bedrooms, 2 baths, 1800 square feet

• Sold in July 2000 for $383,000
• Was listed in August 2008 for $825,000 (leased parking nearby)
• Reduced several times
• Delisted in April 2009
• Lis pendens foreclosure filed in June 2009
• Was bank owned in November 2010 and listed for $369,000
• Sold in January 2011 for $311,000
• Assessments of $509 a month
• Taxes of $6,378
• Central air
• Washer/Dryer in the unit
• No parking
• Deck: 23×29
• Bedroom #1: 11×19
• Bedroom #2: 16×12

This 1-bedroom vintage unit at 1439 W. Elmdale in Edgewater Glen recently came on the market for the first time in nearly 11 years.

Located on the top floor in a courtyard building with 26 units, it has a full-sized dining room.

The kitchen has been renovated and has white 42 inch cabinets, stainless steel appliances and soap stone counter tops.

There is no central air (only window units) or parking, but there is an in-unit washer/dryer.

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

Unit #3S: 1 bedroom, 1 bath, dining room, no square footage listed

• Sold in August 1993 for $64,000
• Sold in August 1997 for $70,000
• Sold in April 2000 for $129,000
• Currently listed for $175,000
• Assessments of $230 a month (includes heat)
• Taxes of $1354
• No central air- window units only
• No parking
• In-unit washer/dryer
• Bedroom: 13×10
• Living room: 17×13
• Dining room: 13×11
• Kitchen: 10×8

This 3-bedroom bank owned unit at 2115 W. Roscoe, literally in the heart of Roscoe Village, has been on the market since September 2010.

The bank has not been able to sell it.

Originally listed at $439,000 in September, the bank has been dropping the price but got aggressive this week when it dropped the price $40k in one day to $329,900.

It is now listed $210,100 under the 2005 purchase price.

Built in a 2004 building above some shops on Roscoe, it appears, from the pictures, to have the kitchen and baths intact.

It has stainless steel appliances, granite counter tops and brazilian wood floors throughout.

The unit also has an in-unit washer/dryer and garage parking. The listing says no central air- but I think that is just a mistake in the listing given the era of the building.

What does this sale mean for similar 3/2 units nearby on the market in the $500,000s?  (such as 2152 W. Roscoe listed at $519,000– see the pictures here.)

And why isn’t this selling?

Carole O’Neill at Equity Ventures Realty has the listing. See the pictures here.

Unit #2: 3 bedrooms, 2 baths, 2000 square feet

• Sold in November 2004 for $529,000
• Sold in November 2005 for $540,000
• Lis pendens foreclosure filed in July 2009
• Bank owned in July 2010
• Originally listed in September 2010 at $439,000
• Several reductions
• Was listed on January 24, 2011 at $369,900
• Reduced on January 25, 2011 to $329,900
• Currently still listed at $329,900
• No assessments listed
• Taxes of $7696
• Washer/Dryer in the unit
• Central Air (?)
• Garage parking included
• Bedroom #1: 17×14
• Bedroom #2: 14×11
• Bedroom #3: 12×11

We last chattered about this 2-bedroom Victorian house at 1167 W. Eddy in Lakeview in October 2010.

See our prior chatter here.

At that time, no one really had an opinion as to what this might sell for.

Nearly 5 months later, it has been reduced another $50,000.

Built in 1893 on a standard 25×125 lot, the house has central air and a 2-car garage.

The house has retained some of its vintage features including hardwood floors and brass detailed pocket doors.

There are also 8 skylights and an unfinished basement with 8 foot ceilings.

While there are only 2 bedrooms, both of which are on the second floor, there is also a 14×10 office, also on the second floor.

The listing says the house is being sold “as-is”.

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

It looks like the house has now been staged.

What will it take to sell this property?

Jan Sachs at Coldwell Banker has the listing. See the pictures here.

1167 W. Eddy: 2 bedrooms, 2 baths, 2 car garage, no square footage listed

• The previous sale was before 1990
• Originally listed in August 2010 for $674,900
• Reduced
• Was listed in October 2010 for $624,900
• Reduced
• Currently listed for $575,000
• Taxes of $6494
• Central Air
• Bedroom #1: 17×13 (second floor)
• Bedroom #2: 18×16 (second floor)
• Office: 14×10 (second floor)

This vintage building at 839 W. Wellington in Lakeview was converted into condos in 2005 but many of the vintage features were left behind in this 2-bedroom top floor unit.

It has 11 foot coffered ceilings, 6 inch crown moldings throughout and the original limestone and mosaic fireplace.

The kitchen has granite counter tops, white cabinets, a stone backsplash and custom wine shelves.

The unit has outdoor space with a screened in back porch.

It also has air conditioning, washer/dryer in the unit and a deeded parking space.

The unit was recently reduced and is now listed $14,500 under the 2005 purchase price.

Bonnie Tripton at @Properties has the listing. See the pictures here.

Or you can see it in person at the Open House on Sun Jan 30 from 12-2 pm.

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

• Sold in August 2005 for $449,500
• Originally listed in August 2010 for $442,000
• Reduced
• Currently listed for $435,000
• Assessments of $252 a month
• Taxes of $6845
• Central Air
• Washer/Dryer in the unit
• Parking included
• Bedroom #1: 13×12
• Bedroom #2: 15×12