Crib Chatter

This 2-bedroom loft in the Union Square Lofts in River North was first listed in July 2022.

This building was built in 1962 but was converted to lofts in 1999-2000. Union Square Lofts has 217 units and attached heated garage parking.

It has door staff, a dog walk area, a bike room and a dry cleaners is on-site but no exercise room or pool. The listing says the East Bank Club is just a block away.

The listing says this loft was “renovated in 2021/22.”

It has floor-to-ceiling windows with “touches” of exposed brick and exposed ductwork.

There are what looks like wide plank hardwood floors throughout but the listing doesn’t say if its hardwood or luxury vinyl.

The kitchen has been “fully renovated” with tall custom white Omega cabinetry, quartz countertops, stainless steel appliances including Fisher-Paykel built-in coffeemaker, built-in refrigerator and dishwasher, Viking range with range hood, Sharp microwave, a Brizo Smart Touch faucet, EWS filtration and an island with seating for 4.

The loft has a wet bar with wine fridge.

The primary bedroom has a “luxurious, spa-like” 2021 remodeled primary bath with a frameless walk-in Mr. Steam shower, Graff faucet, Moen digital shower and Kohler showerheads along with a Toto Washlet and Toilet and heated floors.

The second bedroom doesn’t have any windows.

The listing says the second bathroom was “rebuilt” in 2022. It has a tub.

The loft has the features that buyers look for including central air, a brand new stacked LG washer/dryer in the unit and heated garage parking is available for $35,000.

It has a balcony.

This building is near the Merchandise Mart, the Chicago River and the Riverwalk and it lists the following as neighborhood favorites: “Lou Malnati’s, Bavette’s Bar & Boeuf, Gilt Bar, Chicago Cut Steakhouse, Kinzie Chophouse, Ciccio Mio, HighLine, The Hampton Social – River North, Wildfire, Xoco, Sunny Bowls, Marshall’s Landing, Beatrix, Girl & the Goat, The Doughnut Vault, Firecakes Donuts, Starbucks Reserve Roastery, & Cafe Umbria. Pet Friendly.”

Listed in July 2022 for $849,900, the unit has been reduced $200,000 including another $50,000 reduction just this week to $649,900.

Will this new price get the deal done?

Leigh Marcus at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #523: 2 bedrooms, 2 baths, 1500 square feet, loft

• Sold in September 2000 for $416,000
• Sold in October 2006 for $485,000
• Sold in April 2019 for $440,000
• Originally listed in July 2022 for $849,900
• Reduced several times
• Reduced $50,000 in March 2023
• Currently listed at $649,900
• Assessments of $1126 a month (includes heat, a/c, gas, doorman, cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9853
• Central Air
• Washer/dryer in the unit
• Heated garage parking space is $35,000 extra
• Bedroom #1: 16×10
• Bedroom #2: 12×10
• Living room: 19×19
• Kitchen: 14×10
• Walk-in-closet: 11×9
• Foyer: 7×6
• Laundry room: 3×3
• Balcony: 12×6

This 2-bedroom penthouse at 933 W. Van Buren in the West Loop came on the market in March 2023.

933 W. Van Buren was built in 2003 and has 180 units and attached heated garage parking. It’s been over a decade since we’ve chattered on it.

The building has a doorman, a roof deck with grilling station and views of the Willis Tower, a fitness center and dry cleaning lockers.

This unit is what was termed “soft loft” during the housing boom. Lofts were popular but there were only so many industrial buildings to convert. Developers began to build “loft-like” units with high ceilings and exposed ductwork.

This penthouse unit has unfinished concreted ceilings and exposed ductwork along with newly refinished hardwood floors and fresh paint.

There’s a large foyer with space for an office and a fireplace in the living room.

The listing says the kitchen is “fully renovated” and has contemporary wood cabinets, stainless steel appliances including a wine refrigerator and an island with seating for 2.

The primary bedroom has an en suite bathroom with a double vanity, a separate tub and walk-in shower and it leads to a private 120 square foot patio.

It appears from the floor plan that the second bedroom does not have windows.

This unit has the features buyers look for including central air, washer/dryer in the unit and rare 2-car heated garage parking which is included in the price.

This building is near Mary Bartelme Park, Whole Foods, Mariano’s, the Super Target and all the shops and restaurants of the West Loop.

This unit last sold 15 years ago. Listed at $625,000, that’s $210,000 above the 2008 sales price of $415,000.

Will they get the premium?

Ryan Gossett and Omar Gonzalez at Compass have the listing. See the pictures and floor plan here.

Unit #917: 2 bedrooms, 2 baths, 1350 square feet, penthouse

• Sold in August 2003 for $427,000
• Sold in April 2006 for $395,000
• Sold in January 2008 for $415,000
• Currently listed at $625,000
• Assessments of $650 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $7514
• Central Air
• Washer/dryer in the unit
• 2-car heated garage parking included
• Fireplace
• Bedroom #1: 11×14
• Bedroom #2: 11×7
• Living room: 15×16
• Dining room: 12×8
• Kitchen: 11×10
• Foyer: 7×13
• Walk-in-closet: 7×13
• Balcony: 11×11

This 2-bedroom in 545 W. Roscoe in East Lakeview came on the market in February 2023.

Built in 1923, this courtyard building has 26 units. There’s no parking or elevator but the building has a common patio with furniture and a grill.

This unit is the only unit on its floor and has 3 exposures through vintage windows.

It has an arrival foyer and hardwood floors through the main living spaces.

Like many vintage units, it has a separate dining room.

The kitchen has white cabinets, stainless steel appliances including a newer double oven (2019) and dishwasher (2018) along with a checkerboard floor and backsplash.

The primary suite has an en suite bath which, in addition to the bathroom, has a dressing area, wall of closets and in-unit washer/dryer.

The second bedroom is currently being used as a den/office and has wraparound shelves.

The unit has a 6x7x10 storage space and the building has a bike room. There’s no parking but there are rental lots available in the neighborhood.

There’s no central air, but it has window units.

The listing says: “Building has recently updated the lobby and hallways, re-coated the roof, updated the boiler and water lines, landscaped common patio with furniture and grill. Healthy reserves of $128,646 as of 1/23/23.”

This building is near the shops, restaurants and grocery stores of East Lakeview and numerous bus lines and subway stops. It’s an easy walk to Wrigley Field and several movie theaters.

Listed in February 2023 at $460,000, it has been reduced $20,000 to $440,000.

Even with higher mortgage rates, is this a better deal than renting in the neighborhood?

Ann Carson and John Wyman at @properties Christie’s has the listing. See the pictures, floor plan and video tour here.

Unit #2: 2 bedrooms, 2 baths, 1400 square feet

• Sold in May 1991 for $121,000
• Sold in June 1995 for $162,000
• Sold in August 1997 for $193,000
• Sold in February 1999 for $220,000
• Sold in June 2004 for $344,500
• Originally listed in February 2023 for $460,000
• Reduced
• Currently listed at $440,000
• Assessments of $640 a month (includes heat, gas, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $8508
• No central air. Window units only.
• Washer/dryer in the unit
• No parking but rental available in the neighborhood
• Bedroom #1: 13×12
• Bedroom #2: 12×12
• Dining room: 15×12
• Living room: 13×22
• Foyer: 5×8
• Kitchen: 10×12

This 2-bedroom duplex up soft loft in 1800 W. Grace in North Center came on the market in September 2022.

Converted into 91 lofts in 2013, this building has 91 units and attached heated garage parking.

There is no door staff but the building has a roof deck with commercial grill/kitchenette with skyline views and a fitness center.

This loft has unique features including exposed metal ceiling beams on the first floor and a custom white staircase.

The first level has floor-to-ceiling windows which look out on the courtyard and the 200 square foot private patio.

The first level also has the living room and kitchen along with a full bathroom.

The “chef’s kitchen” has dark contemporary cabinets, stainless steel appliances and an eat-in island.

Both bedrooms, which are fully enclosed, are on the second floor and have floor-to-ceiling windows overlooking the courtyard.

The primary suite has a walk-in-closet and a “spa-like” bathroom. There’s also a full-size laundry closet on the second floor.

The loft has central air and a heated garage parking space is $25,000 extra. The listing says that the space is literally outside the door of the loft.

This building is nearly right across the street from Trader Joe’s, near the Metra and the shops and restaurants of North Center and West Lakeview.

The listing says the building is investor and pet friendly.

Listed in September 2022 for $525,000, it has been reduced to $445,000 plus $25,000 for parking.

That price is just $10,000 over the 2013 sales price of $460,000.

Is this a deal?

Richard Kasper and Rachel Monticel at Compass have the listing. See the pictures, floor plan and video tour here.

Unit #108T: 2 bedrooms, 2 baths, 1368 square feet, duplex up, soft loft

• Sold in October 2013 for $460,000
• Sold in June 2016 for $437,500
• Originally listed in September 2022 at $525,000
• Reduced
• Under contract in December 2022 at $445,000
• Re-listed
• Currently listed at $445,000
• Assessments of $706 a month (includes cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal and Internet)
• Taxes of $8800
• Central Air
• Washer/dryer in the unit
• Heated garage parking available for $25,000
• Bedroom #1: 13×12 (second floor)
• Bedroom #2: 12×12 (second floor)
• Living room: 15×13 (main floor)
• Kitchen: 11×10 (main floor)
• Utility room: 6×4 (second floor)
• Walk-in-closet: 6×6 (second floor)
• Terrace: 18×17 (main floor)

This 3-bedroom triplex in the Frank Fisher Residences at 1209 N. State Parkway in the Gold Coast came on the market in March 2023.

Built in 1937-38, the Frank Fisher Residences were designed by Andrew Rebori and Edgar Miller with Miller putting in some of his special touches like the original art glass walls while Rebori supplied the sculpted staircases. It is landmarked.

It has 14 units, an interior courtyard and garage parking, but I believe for just 2 cars. There are no amenities.

The listing says this unit was designed for Fisher himself. Fisher was a Marshall Field’s executive.

Originally a 2-story unit with 1660 square feet, according to prior listings, it has finally been combined with Apt #14, a studio that sat above it with 590 square feet and a 14×12 terrace that overlooks the courtyard and which has a pergola.

It has a “newer” stainless steel kitchen (which was in the 2012 listing pictures) and a breakfast area along with a small balcony/terrace. The first floor also has a library/family room with a powder room.

There’s a fireplace in the living room and, of course, the Miller art glass windows.

2 bedroom suites are on the second floor along with a walk-in-closet. The listing says the bathrooms have been “tastefully renovated.”

The third floor has the third bedroom, a family room, the laundry with sink and storage, a full bath and the terrace.

The unit has the features that buyers look for including central air, washer/dryer and one car on-site deeded garage space is included.

The Frank Fisher Residences are near the shops and restaurants of the Gold Coast including the Farmers Market on Division. With the addition of the new luxury rental building on the corner of State and Division, the area has also seen an influx of new fast casual restaurants.

One of the old listings said this unit has been featured in 18 architecture books and was in Architectural Digest (aka AD).

Listed at $1.285 million, will this triplex appeal to those looking for a townhouse?

Brad Lippitz and Stewart Smith at Compass have the listing. See the pictures here (sorry, no floor plan).

Unit #13: 3 bedrooms, 3.5 baths, no square footage listed but prior listings said it was 1660 and 590 square feet

• Sold in September 2000 for $599,000
• Sold in October 2012 for $1.159 million (appears to be both Units 13 and 14)
• Sold in April 2016 for $1.1 million ($900,000 for Unit #13 and $200,000 for Unit #14)
• Originally listed in March 2023 for $1.285 million 
• Assessments of $2230 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $16,194
• Central Air
• Washer/dryer in the unit
• 1 car on-site deeded garage space included
• Fireplace (gas?)
• Bedroom #1: 11×21 (second floor)
• Bedroom #2: 18×10 (second floor)
• Bedroom #3: 11×12 (third floor)
• Living/dining combo: 13×29 (main floor)
• Kitchen: 12×6 (main floor)
• Family room: 17×10 (main floor)
• Breakfast room: 13×11 (main floor)
• Walk-in-closest: 13×6 (second floor)
• Laundry room: 7×6 (third floor)
• Recreation room: 10×15 (third floor)
• Balcony: 8×4 (main floor)
• Terrace: 14×12 (third floor)

This 3-bedroom in The Eddystone at 421 W. Melrose in East Lakeview came on the market in August 2022.

Built in 1928, The Eddystone was originally meant to be two buildings but the stock market crash and the Great Depression interrupted the developer’s plans. Instead, they only built one building.

It has 2 units per floor for a total of 48 units. The building has a fitness room, sauna, bike storage, laundry room, on-site engineer, 24-hour door staff and the listing says a “newly constructed roof deck with grill area.” There’s no parking.

This unit has many of its vintage features including high ceilings, arched doorways, a foyer and gallery.

It has oak herringbone hardwood floors throughout and extensive crown, picture and baseboard moldings.

The listing says the kitchen and baths have been renovated.

The kitchen has custom white and wood cabinets, stainless steel appliances and quartz countertops.

It has a primary bedroom suite with a full wall of organized closets and a spa-like porcelain bath with rain and handheld shower attachments.

The listing says the unit has new windows.

It has rare in-unit washer/dryer, installed in the half bath, but no central air, window units only, and no parking. The listing says there is monthly parking available across the street.

The Eddystone is in the heart of East Lakeview near all the shops, restaurants, bus lines and the lake front. The listing says it is in the Nettelhorst school district.

Listed in August 2022 for $619,000, it has been reduced $70,000 to $549,000.

Is this a deal for 2100 square feet in this neighborhood?

Christopher Olson at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #5B: 3 bedrooms, 2.5 baths, 2100 square feet

• Sold in December 1988 for $205,000
• Sold in May 1994 for $234,000
• Sold in September 1997 for $260,000
• Sold in January 2000 for $367,000
• Sold in May 2014 for $515,000
• Originally listed in August 2022 for $619,000
• Reduced several times
• Currently listed at $549,000
• Assessments of $1595 a month (includes heat, electricity, gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $8178
• No central air- window units
• Washer/dryer in the unit
• No parking but available to rent across the street
• Bedroom #1: 18×11
• Bedroom #2: 19×11
• Bedroom #3: 15×11
• Living room: 27×14
• Dining room: 17×11
• Kitchen: 13×10
• Foyer: 8×8
• Gallery: 13×7
• Laundry room: 3×4

This 2-bedroom in 1429 N. Wells in Old Town came on the market in February 2023.

Built in 1999, 1429 N. Wells is a boutique elevator building with 30 units and garage parking. It doesn’t have door staff nor amenities.

The listing for this unit says it has been “impeccably renovated.”

It has south facing windows and balcony with city views.

The kitchen has custom white cabinetry with a blue peninsula that seats 3 along with quartz countertops, a Carrera marble backsplash, and “top of the line” stainless steel appliances including a hood over the stove.

The primary suite has a walk-in-closet and an en suite bath with a double vanity, steam shower and high end finishes and fixtures.

The second bathroom has been updated with Cle tile handmade Moroccan tile and Carrara marble flooring.

It has a wood accent wall in the foyer/hallway.

This unit has the finishes buyers look for including central air, washer/dryer in the unit, a heated parking space and storage.

It’s in the heart of Old Town near dozens of shops, restaurants, coffee shops, the Fox Trot and the new Dom’s Kitchen & Market.

Buyers love “new.”

Listed at $750,000, does this renovated unit have it all for buyers in 2023?

Margaret Baczkowski and Julia Wrzosek at @Properties Christie’s have the listing. See the pictures and floor plan here.

Or see it at the Open House on Saturday, March 4 from 11:30 to 1:30 PM.

Unit #603: 2 bedrooms, 2 baths, 1361 square feet

• Sold in September 2001 for $452,500
• Sold in June 2004 for $525,000
• Sold in October 2018 for $675,000
• Currently listed at $750,000
• Assessments of $601 a month (includes snow removal and scavenger)
• Taxes of $12,311
• Central Air
• Washer/dryer in the unit
• Heated parking space included
• Storage included
• Bedroom #1: 12×19
• Bedroom #2: 11×13
• Living room: 16×15
• Dining room: 17×7
• Kitchen: 12×10
• Foyer: 6×10
• Walk-in-closet: 5×9
• Balcony: 15×5

This 2-bedroom penthouse loft in Heartbreak Lofts at 17 N. Loomis in the West Loop came on the market in February 2023.

Built in 1924, Heartbreak Lofts was converted into 42 lofts in 2000 as part of the Loftminium conversion. It has garage parking, what looks like a shared rooftop deck but no other amenities or door staff.

This penthouse loft has 12 foot concrete ceilings, concrete columns and exposed ductwork.

It has hardwood floors throughout and industrial style windows on the main floor.

The listing says it has been “transformed” by the current owner. (The “before” pictures are in the 2015 listing.)

It has a “designer” kitchen with Restoration Hardware shelving, stainless steel appliances and vintage touches along with a wood island.

There’s space for a dining room table.

The first floor also has a den/office and a large walk-in-closet in the entryway which acts as a mudroom, laundry room and storage room.

It also has the second bedroom but it appears the wall was removed in the transformation making it open to the living/dining room and a full custom bath.

The dramatic interior winding steel staircase leads to the second floor primary suite which has a walk-in-closet and an en suite custom bathroom with separate tub and walk-in-shower.

There’s also a large, private deck off the primary suite with city views.

The loft has the features buyers look for including central air and there are two garage parking spaces available, one in the building and one next door at Johnny’s Ice House, for $25,000 each.

Heartbreak Lofts is near the restaurants and shops of the West Loop and is near United Center.

Listed at $699,000, is this the perfect home for loft lovers?

James Lotka and Paul Mancini at @properties Christie’s has the listing. See the pictures here (sorry, no floor plan).

Unit #4C: 2 bedrooms, 2 baths, 2100 square feet, loft, duplex-up, penthouse

• Sold in October 2000 for $337,500
• Sold in April 2003 for $351,000
• Sold in May 2007 for $390,000
• Sold in March 2015 for $570,000
• Currently listed at $699,000
• Assessments of $582 a month (includes exterior maintenance, scavenger, snow removal, security)
• Taxes of $11,623
• Central Air
• Washer/dryer in the unit
• 2 car parking available, one in the building and one next door at Johnny’s Ice House for $25,000 each
• Fireplace
• Bedroom #1: 20×18 (second floor)
• Bedroom #2: 19×11 (first floor)
• Living room: 21×17 (first floor)
• Dining room: 19×11 (first floor)
• Kitchen: 11×10 (first floor)
• Den: 11×9 (first floor)
• Walk-in-closet: 11×8 (second floor)
• Foyer: 10×7 (first floor)
• Laundry room: 13×8 (first floor)
• Balcony: 19×8 (second floor)

This 2-bedroom at 1358 W. Belmont in Lakeview came on the market in February 2023.

Built in 2011, 1358 W. Belmont has 6 units, parking and an elevator. It was among the first wave of new condo buildings as the housing bust eased.

This unit has floor-to-ceiling South facing windows in the living room that lead to a balcony with city views.

There looks to be hardwood floors throughout (but the listing doesn’t confirm they’re real hardwoods).

There’s a fireplace in the living room.

The kitchen is open to the living room and has wood cabinets, what looks like granite counter tops, stainless steel appliances and a peninsula which seats 4.

The primary suite has a “spa-like” en suite bathroom with a double vanity, a bathtub/shower combo and a walk-in-shower. It also has a walk-in-closet.

The unit has the features buyers look for including central air, washer/dryer in the unit, surround sound and a “large” rear exterior space which the listing says fits 2 cars.

There’s storage in the basement.

The listing says “investors welcome.”

But it also says: “Also, sellers prefer to close and rent back month to month. Come see why you will want to call this one your next home! Note: Sellers prefer a few months rent back. Thanking you in advance.”

This building is near the shops and restaurants of central Lakeview, including on Belmont and Lincoln, and the large Lakeview Whole Foods.

Listed in February 2023 for $500,000, that’s a $115,000 premium over the October 2015 purchase price of $385,000.

Are 2/2 condos still popular with home buyers?

Robin Chessick at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #301: 2 bedrooms, 2 baths, 1196 square feet

• Sold in August 2011 for $312,500
• Sold in October 2015 for $385,000
• Currently listed at $500,000
• Assessments of $266 a month (includes water, parking, insurance)
• Taxes of $7781
• Central Air
• Washer/dryer in the unit
• Exterior parking space which fits 2 cars
• Fireplace
• Bedroom #1: 16×12
• Bedroom #2: 13×9
• Living/dining room: 22×17
• Kitchen: 15×10
• Balcony

We can say one thing about January 2023 sales: at least they weren’t as bad as January 2009. They managed to stay above 1,000 in Chicago.

From the Illinois Association of Realtors:

The city of Chicago saw a 41.2 percent year-over-year home sales decrease in January 2023 with 1,076 sales, down from 1,831 in January 2022. The median price of a home in the city of Chicago in January 2023 was $297,500, down 4.0 percent compared to January 2022 when it was $310,000.

Sales Data Since 2006 (thanks to G for the older data):

• January 2006: 2009 sales and median price of $258,000
• January 2007: 1850 sales and median price of $279,900
• January 2008: 1203 sales and median price of $290,000
• January 2009: 918 sales and median price of $205,000
• January 2010: 1237 sales and median price of $195,000
• January 2011: 1034 sales and median price of $150,000
• January 2012: 1123 sales and median price of $149,000
• January 2013: 1521 sales and median price of $157,000
• January 2014: 1383 sales and median price of $200,750
• January 2015: 1348 sales and median price of $220,000
• January 2016: 1398 sales and median price of $227,750
• January 2017: 1574 sales and median price of $255,000
• January 2018: 1444 sales and median price of $265,000
• January 2019: 1347 sales and median price of $255,000
• January 2020: 1462 sales and median price of $267,500
• January 2021: 1698 sales and median price of $310,000
• January 2022: 1831 sales and median price of $310,000
• January 2023: 1076 sales and median price of $297,500

“The housing market is currently experiencing its usual winter slowdown,” 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. “Median prices are similar to their levels at this time last year in both the Chicago area and the rest of Illinois. Our forecasts indicate that prices and sales will increase over the next three months throughout the state.”

Statewide time on the market was up 2 days to 41 days from 39 days last year. But inventory fell again, losing 7.6% to 19,204 from 20,793 properties, as home sellers stayed on the sidelines and didn’t list.

In Chicago, time on the market also rose 2 days, or 4.3%, to 49 days from 47 days last year. Inventory also fell again, declining 12.7% to 5310 from 6084.

Fears about a rush of inventory coming on the market have clearly been misplaced. Inventory remains near all-time lows.

In Chicago’s 1076 sales, both condos and single family homes saw similar weakness. Single Family Home sales declined 39.9% year-over-year to 459 while condos fell 42.2% to 617.

“Following the New Year, January is a common time for sellers to prepare their homes for the spring market by buttoning up their properties for sale,” said Sarah Ware, president of the Chicago Association of REALTORS® and principal and designated managing broker for Ware Realty Group in Chicago. “Buyers, aware of their greater negotiating power, have their eyes on the spring market with the hope of increased inventory.”

The 30 year fixed came down from December, to an average of 6.27% from 6.36%. But this is still up sharply from January 2022 when it was just 3.45%.

Last winter’s market was still red hot. We won’t see more attractive year-over-year comparisons until the spring and summer because the Fed didn’t start raising rates until March of 2022.

Will Chicago sales remain frozen as we head into the spring season?

Illinois home sales and median prices dropped in January  [Illinois Association of Realtor, Press Release, by Bill Kozar, February 21, 2023]