Crib Chatter

This bank owned 3-bedroom vintage frame house at 4919 N. Magnolia in Uptown has been on the market since September 2010.

The bank has reduced the price $55,100 in that time.

It is now listed $205,100 under the 2005 purchase price of $505,000 and is cheaper than some nearby condos.

Built in 1905 on a 30×125 lot, it has a 2 car garage but no central air conditioning.

All 3 bedrooms are on the second floor.

From the interior pictures, it looks like some of the bathrooms and part of the kitchen are intact (but there are no appliances pictured in the kitchen.)

Located west of Broadway, just a few blocks from the Argyle red line stop and not far from Andersonville shops/restaurants, is this house a steal?

Linda O’Donnell at Re/Max Signature has the listing. See the pictures here.

4919 N. Magnolia: 3 bedrooms, 2.5 baths, 1488 square feet, 2 car garage

• Sold in June 1991 for $150,000
• Sold in September 2005 for $505,000
• Lis pendens filed in April 2009
• Bank owned in May 2010
• Listed in September 2010 for $355,000
• Reduced several times
• Currently listed for $299,900
• Taxes of $6295
• No central air
• Bedroom #1: 13×17
• Bedroom #2: 11×13
• Bedroom #3: 10×10

We actually chattered about this newer construction  4-bedroom duplex down short sale at 1928 W. Diversey in West Lakeview back in March 2010.

See our prior chatter here.

Back then, no one had much to say about the actual property. Instead, everyone fought over what neighborhood this would acutally be (North Center? Roscoe Village, West Lakeview? Hamlin Park? South Lakeview? None of the Above?)

Let’s just call it West Lakeview.

Since March of last year, not only has the property been reduced $115,900 but according to the listing “time is of the essence” because…

“MOLD IN LOWER LEVEL DUE TO RECENT WATER DAMAGE FROM SHORTED PUMP. NEW PUMP HAS BEEN INSTALLED. REMIDIATION ESTIMATE AVAILABLE. DAMAGE IS VERY RECENT.”

Two of the bedrooms are on the main floor and two are on the lower level.

There is also a family room on the lower level.

Additionally, the unit has a rare 3 full baths.

We know from the prior listing last year that the floors are cherry and there are granite counter tops in the kitchen, but no appliances. (Although with the water damage now, who knows about the floors.) There are no longer interior pictures with the listing.

Central air, an in-unit washer/dryer and 2 car tandem parking were included in the prior listing.

The unit recently went under contract.

Was the reduced price THAT good?

Patricia Pereyra at Keller Williams Lincoln Square still has the listing. See the exterior picture here.

Unit #1W: 4 bedrooms, 3 baths, duplex down, 2 car tandem parking included

• Sold in September 2006 for $515,000
• Lis pendens foreclosure filed in November 2009
• Originally listed in February 2010 for $474,000
• Reduced several times
• Was listed in March 2010 as a short sale for $439,900
• Reduced
• Currently listed as a short sale at $324,000
• Burst pipe and mold in January 2011- remediation estimate available
• Assessments of $165 a month
• Taxes of $7697
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×12 (main level)
• Bedroom #2: 12×10 (main level)
• Bedroom #3: 13×9 (lower level)
• Bedroom #4: 11×9 (lower level)

This 2-bedroom loft in One River Place, at 758 N. Larrabee, in River North has been on the market since October 2010.

In that time period, it has been reduced $80,100.

Now a short sale, and listed $77,600 under the 2006 purchase price, the listing says “this won’t last long!”

It is a concrete loft with tall ceilings.

There are hardwood floors throughout the main living space.

The kitchen has granite counter tops and black appliances.

Is this a deal?

Allison Kellaher at Luxe Marketing & Sales has the listing. See the pictures here.

Unit #414: 2 bedrooms, 2 baths, 1350 square feet

• Sold in June 2002 for $289,000 (included the parking)
• Sold in January 2006 for $367,500 (included the parking)
• Lis pendens foreclosure filed in July 2009
• Originally listed in October 2010 for $345,000
• Reduced twice
• Currently listed as a short sale for $264,900 (parking $25,000 extra)
• Assessments of $377 a month (includes cable, doorman)
• Taxes of $3278
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×11
• Bedroom #2: 10×11

It’s been over 3 years since we’ve chattered about the Market Square Lofts at 161 W. Harrison in Printers Row.

One of the few buildings in Printers Row with central air, in-unit washer/dryers and deeded onsite parking, the units have high ceilings and big windows but lack exposed brick, timber, exposed beams or other authentic loft characteristics.

This 2 bedroom, 2 bath unit has been on the market for a year.

In that time it has been reduced $110,000 and is listed as a “short sale.”

It is now listed just $9,900 over the original 1997 sales price (as the building was first converted into condos in 1997.)

It has french doors and oak hardwood floors throughout.

The kitchen has white cabinets, white appliances and granite counter tops on the breakfast bar.

There is a two sided fireplace.

The unit below it, Unit #605, is also on the market- but to rent- for $1950 a month. You can see from the pictures of that unit that it faces directly into the Vetro next door. (That unit has been available to rent since November 2010.)

See Unit #605 rental here.

From the listing history, it appears the bank has been reducing this unit every two weeks- but stopped at the current price a couple of weeks ago.

Is this a deal at $151 a square foot (and given the rental asking price of the unit below it)?

Bryan Schmidt at Strive Real Estate has the listing. See the pictures here.

Unit #705: 2 bedrooms, 2 baths, 1325 square feet

• Sold in June 1997 for $190,000
• Sold in August 1999 for $215,000
• Sold in April 2003 for $240,000
• Sold in July 2005 for $330,000
• Originally listed in January 2010 for $309,900
• Reduced numerous times
• Currently listed as a “short sale” at $199,900 (parking included)
• Assessments of $584 a month (includes everything except electric- including heat, a/c, gas, doorman, cable)
• Taxes of $3551
• OR you can rent the unit below it, Unit #605, for $1950 a month (doesn’t appear that parking is included)
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 19×11
• Bedroom #2: 10×13

We last chattered about this new construction 4-bedroom single family home at 1214 N. Rockwell in West Town in November 2010.

See our prior chatter here.

It’s pretty unusual to see a completely new construction single family home selling for under $400,000 in the neighborhood.

Many of you thought it was too close to East Humboldt Park to sell at that price. But others thought it was gentrifying enough to support something close to the $369,000 list.

The house has “LEED appointments”.

It has flaxseed sealed oak hardwood floors and an Eco burning fireplace. They apparently used no VOC paint.

3 of the 4 bedrooms are on the second floor with the fourth on the main floor.

It has a floating staircase and the bathrooms have vessel bowl sinks.

The kitchen is the modern asethetic with stainless steel appliances.

There is a 2-car garage on a 24×102 lot.

Prior to the house being built, there was an empty lot there.

Will this house finally sell in the spring buying market?

Karen Biazar at North Clybourn Group still has the listing. See the pictures here.

1214 N. Rockwell: 4 bedrooms, 2.5 baths, 2 car garage, 2400 square feet

• Sold in June 2007 for $300,000
• Lis pendens filed in December 2008
• Bank owned in September 2009
• Sold in September 2009 for $41,000
• Was listed in November 2010 for $369,000
• Still listed for $369,000
• Taxes are “new”
• Central Air
• Bedroom #1: 15×12 (second floor)
• Bedroom #2: 14×9 (second floor)
• Bedroom #3: 10×10 (second floor)
• Bedroom #4: 8×10 (main floor)

We last chattered about this 6-unit building at 2629 N. Dayton in Lincoln Park in February 2010.

See our prior chatter here.

At that time, Unit #3N, a 3 bedroom, 3 bath duplex up was on the market as was Unit #3S– it’s sister unit.

Unit #3N went on to sell in May 2010 for $574,624, or slightly over its final listing price of $574,500. Mario Greco at Prudential Rubloff was the agent.

But Unit #3S hasn’t been as lucky.

In that same time period, this 3-bedroom duplex up has been reduced $40,900 and is now listed for about $25,000 under the sale price of Unit #3N.

This unit is the same square footage as the other one, at 2400 square feet. It also has 3 private decks and parking is included in the price.

There are 22 foot high ceilings in the living room.

2 out of the 3 bedrooms are on the main floor with the master bedroom and the family room on the second level.

Has the market changed that much in the last year?

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

Unit #3S: 3 bedrooms, 3 baths, 2400 square feet

• Sold in January 1998 for $133,000 (this is what the public records state- not sure it’s accurate though)
• Originally listed in February 2010 for $589,900
• Reduced numerous times
• Currently listed for $549,000
• Unit #3N sold in May 2010 for $574,624
• Assessments of $177 a month
• Taxes of $9168
• Central Air
• Washer/Dryer in the unit
• Parking included
• Bedroom #1: 22×11 (second floor)
• Bedroom #2: 16×12 (main floor)
• Bedroom #3: 11×10 (main floor)
• Family room: 20×18 (second floor)

This newer construction bank owned 4-bedroom single family home at 1930 W. Oakdale in North Center near Hamlin Park has been on the market since October 2010. (This is showing up as North Center in the neighborhood designation- but most would call it, probably, Roscoe Village.)

In that time, it has been reduced $81,600.

At $759,900, it is now listed about 50% below its 2005 purchase price of $1.5 million.

From the pictures, the kitchen appears intact with stainless steel appliances and granite counter tops.

There’s custom millwork throughout the house as well as what looks sto be a custom wood fireplace mantel.

Three out of the 4 bedrooms are on the second floor with the fourth in the basement (which is maybe why the listing write-up actually calls it a 3-bedroom house instead of a 4 bedroom.)

The listing says there is a custom closet in the master bedroom.

The lower level is fully finished.

Built on a standard 25×125 lot, it also has a 2-car garage.

Is this a deal?

Linda O’Donnell at Re/Max Signature has the listing. See the pictures here.

1930 W. Oakdale: 4 bedrooms, 3 baths, 2 car garage, no square footage listed

• Sold in January 2005 for $975,000
• Sold in February 2005 for $1.5 million
• Lis pendens foreclosure filed in July 2009
• Bank owned in April 2010
• Originally listed in October 2010 for $841,500
• Reduced
• Currently listed at $759,900
• Taxes of $14,901
• Central Air
• Bedroom #1: 14×17 (second floor)
• Bedroom #2: 17×13 (second floor)
• Bedroom #3: 12×12 (second floor)
• Bedroom #4: 12×12 (basement)

This 3-flat greystone at 1509 W. Addison in the Southport neighborhood of Addison has been on and off the market since July 2008.

In that time it has been reduced $234,000.

The listing says there is a one year old roof and recent tuckpointing.

The three units also have “upated” kitchens and baths.

The units are as follows:

1. Unit #1: 2 bedrooms, 1 bath
2. Unit #2: 2 bedrooms, 1 bath
3. Unit #3: 1 bedroom, 1 bath (garden unit)

There is steam heating and no central air (window units only.)

Built in 1898 on a 22×134 lot, the property has a 2-car garage.

The rents are not listed so we don’t know if this is cash flow positive.

But what if you were to convert it to a single family home instead?

It’s far cheaper than most homes in the neighborhood of comparible size.

Mark Weitekamper at Haderlein & Company Realtors has the listing. See the pictures here.

1509 W. Addison: 5 bedrooms, 3 baths, 3-flat, 2 car garage

• Sold before 1986
• Originally listed in July 2008 for $799,000
• Reduced numerous times
• Currently listed at $565,000
• “Motivated seller”
• Taxes of $10121
• No central air
• Steam heat

This 2-bedroom unit in Erie Center at 435 W. Erie in River North has been on and off the market for a year.

It is now listed for $87,100 under the 2008 purchase price and also just $1,900 above the 2003 purchase price.

Built in 1998, the unit has some interesting features including a large window in the master bathroom- which you rarely see in newer construction high rises. Last window in the bathroom I remember was in some of the units in 600 N. Fairbanks.

The listing says there are ebony bamboo floors throughout the main living areas.

The kitchen has white cabinets and appliances and no granite counter tops.

It has central air, washer dryer in the unit and parking is available to purchase in the building.

Is this a deal for the location and square footage?

Cara Buffa at Prudential Rubloff has the listing. See the pictures here.

Or see it in person this Sunday, Jan 23, at the Open House before the Bears game from 11 am to 1 pm.

Unit #807: 2 bedrooms, 2 baths, 1425 square feet

• Sold in January 1999 for $257,000
• Sold in May 2002 for $327,000
• Sold in June 2003 for $348,000 (it appears parking was included)
• Sold in March 2008 for $437,000 (it appears parking was included)
• Originally listed in January 2010
• Currently listed at $349,900 (parking extra)
• Assessments of $577 a month (includes heat, a/c, cable, doorman)
• Taxes of $5185
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×13
• Bedroom #2: 12×11

We last chattered about a short sale in The Heritage, the high rise at 130 N. Garland in the Loop in 2008.

It wasn’t the last of the short sales, however, as this 3-bedroom unit recently came back on the market as a short sale after having been on and off the market since August 2008.

The northeast corner unit has lake and Millennium Park views.

The kitchen has granite counter tops and black appliances.

There are hardwood floors throughout the main living area.

Unit #2901, the same floorplan, is also currently on the market and is asking $280,750 more ten floors below this short sale unit.

Is this a deal?

Dana Surcell at Onix Realty has the listing. See the pictures here.

Unit #3901: 3 bedrooms, 3 baths, 2157 square feet

• Sold in October 2005 for $1,003,500
• Originally listed in August 2008 for $1,369,000
• Reduced several times
• Was listed in July 2010 for $1,249,000
• Lis pendens filed in August 2010
• Currently listed as a “short sale” at $939,000 (1 deeded parking space included)
• Assessments of $1005 a month (includes doorman, pool)
• Taxes of $12600
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×14
• Bedroom #2: 11×16
• Bedroom #3: 10×12