Crib Chatter

Since we’re chattering about duplex up units, this 3-bedroom at 3726 N. Southport in Lakeview just came on the market.

It’s located across the street from the Music Box and you can almost taste the Dairy Queen from the private roof top deck.

The unit has 18 foot ceilings in the living room and has a lofted family room in the duplex up.

All 3 bedrooms are on the main level.

It also has a unique feature you don’t see often in the newer construction and that is a side-by-side washer/dryer.

The kitchen has stainless steel appliances and granite counter tops.

At 2000 square feet, this unit is bigger than some single family homes in the neighborhood.

Morgan Sage at Keller Williams Lincoln Square has the listing. See the pictures here.

Unit #3: 3 bedrooms, 2.5 baths, 1 car garage, 2000 square feet

• Sold in June 2001 for $429,000
• Sold in September 2003 for $470,000
• Currently listed for $525,000
• Assessments of $210 a month
• Taxes of $6782
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 13×12
• Bedroom #2: 13×9
• Bedroom #3: 10×10
• Family room: 17×16

This vintage 2-flat at 1943 W. Addison in North Center has been on and off the market since February 2007.

It recently returned to the market in November 2009 and has since been reduced by $29,100.

It is also now listed for $25,100 under its 2006 purchase price.

Built in 1908, the 2-units are as follows:

1. 2 bedrooms/1 bath: rented for $1250 a month
2. 3 bedrooms/1 bath: rented for $1500 a month

Both units have separate utilities. There is also a 2-car garage.

It appears from the pictures that some vintage features are still intact.

The 2-flat is just minutes from the Addison Brown Line stop as well as the restaurants/shops of Roscoe Village and North Center.

Is this a good condo alternative for someone looking to live in one unit and rent out the other?

Peter Komar has the listing. See the pictures here.

1943 W. Addison: 2-flat, 5 bedrooms, 3 baths, 2 car garage

• Sold in 1987
• Sold in August 2006 for $545,000
• Originally listed in February 2007
• Off and on the market
• Re-listed in November 2009 for $549,000
• Reduced
• Currently listed for $519,900
• Taxes of $6500
• Standard Chicago lot of 25×125
• The listing doesn’t say anything about central air

We’ve chattered about duplex up condo units before such as this one at 1955 W. Barry in Roscoe Village.

The duplex up is the preferred style as there are no basement issues and the unit feels more like a townhouse or single family home.

This unit in Roscoe Village has nearly as much square footage as many starter homes in the area at 1900 square feet.

Built in 2004, there are Brazilian cherry floors and the kitchen has upgraded stainless steel appliances including a Viking range and refrigerator.

There is also the all-important private roof-top deck.

This 3-bedroom also has something else somewhat unique- in that it has 3 bathrooms instead of the more common 2 baths.

It also just went under contract.

While it’s less than a half a block to Hamlin Park, it’s not located close to any El stops.

If you feel like you missed out, its sister unit, Unit #2W, also with a private rooftop terrace, is available to rent for $2950 a month starting July 1.

You can see pictures of the rental unit here.

Mark Paul at @Properties has the listing. See more pictures here.

Unit #2E: 3 bedrooms, 3 baths, 1 car parking, 1900 square feet

• Sold in April 2004 for $515,000
• Originally listed in April 2010 for $545,000
• Currently still listed for $545,000
• Under contract
• Assessments of $186 a month
• Taxes of $8100
• Bedroom #1: 18×12 (second level)
• Bedroom #2: 12×10 (second level)
• Bedroom #3: 11×10 (main level)

This 2-bedroom unit at 2555 W. Leland in Lincoln Square just came on the market.

It’s not in the typical Lincoln Square location as it is just minutes from the cute Rockwell Crossing El stop and the few shops/restaurants that are clustered there.

But it’s also not a long walk to the actual Lincoln Square itself.

The building was built in 2004 and the unit has a heated garage space, which is somewhat unusual for the neighborhood, as it is filled with vintage buildings, many of which don’t have parking included.

The unit has 10.5 foot ceilings and crown molding.

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

There are two outdoor spaces: a balcony off the living room and a terrace off the second bedroom.

Nicholas Apostal at Coldwell Banker has the listing. See the pictures here.

Unit #204: 2 bedrooms, 2.5 baths, no square footage listed

• Sold in May 2004 for $325,000
• Currently listed for $349,900 (parking included)
• Assessments of $217 a month
• Taxes of $3978
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 11×15
• Bedroom #2: 11×11

We last chattered about this 3-bedroom townhouse at 1806 N. Larrabee in Lincoln Park in February 2010.

See our prior chatter and pictures here.

We chattered about whether or not a 3-bedroom townhouse for under $530,000 was a deal for this location and square footage.

The townhouse, which was built in 1974, ended up selling for $21,000 under $500,000.

All 3 bedrooms were on the second floor.

It also had a large 28×11 family room on the lower level.

A private deck, central air and parking rounded out the picture.

Did someone get a deal?

Eric Rojas at Prudential Rubloff  had the listing.

1806 N. Larrabee: 3 bedrooms, 2.5 baths, 1 car parking

• Sold in March 1999 for $300,000
• Sold in September 2005 for $535,000
• Was listed in February 2010 for $529,900
• Sold in June 2010 for $479,000
• Assessments of $321
• Taxes of $5272
• Central Air
• Bedroom #1: 13×11
• Bedroom #2: 13×10
• Bedroom #3: 10×8

This 2-bedroom condo at 1111 W. Madisonin the West Loop appears to be in a prime location if you’re a Blackhawks fan.

This unit actually looks out over Madison, the preferred view for units in these buildings (otherwise, the units tend to overlook the parking garage and alley in the back.)

The midrise building was built in 2001.

The unit has hardwood floors, a gas fireplace and crown molding.

The kitchen has 42 inch cabinets, granite counter tops and stainless steel appliances.

It has all the bells and whistles including central air, in-unit washer/dryer and parking.

It is also listed for $41,000 under the 2007 purchase price.

With all the bars and restaurants benefiting from the Blackhawks Stanley Cup run and, yes, even some buzz about the Bulls again, could West Madison become the new Wrigleyville?

Dan Spain at Conlon: A Real Estate Company has the listing. See the pictures here.

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

• Sold in February 2001 for $230,500
• Sold in March 2007 for $420,000
• Currently listed for $379,000 (includes the parking)
• Assessments of $265 a month (includes the cable)
• Taxes of $4434
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 17×11
• Bedroom #2: 12×9
• Living room: 31×14
• Kitchen: 8×6

We won’t have the Chicago May sales data for several weeks yet but indications from other parts of the country are showing a much weaker than expected May due to the tax credits pulling buyers into the market ahead of the normal spring buying season.

Everyone knew there would be a slowdown, but much like December of 2009, the first time the tax credit expired, it appears that sales have slown dramatically (again).

From the Wall Street Journal:

Home-purchase contracts signed in New Jersey last month were down 25% from a year earlier, estimates Otteau Valuation Group, an appraisal firm in East Brunswick, N.J. New Jersey’s state legislature is considering its own tax credit for home buyers.

In the Minneapolis area, the number of newly signed home-purchase contracts in the week ended May 22 was down 30% from a year earlier, according to the Minneapolis Area Association of Realtors. “Our buyers, if they haven’t purchased, have just decided to wait,” said Brad Fisher, president of the local Realtor group.

In the Phoenix area, contracts signed in May plunged 26% from a year earlier, local Realtor data show. In Denver, the drop was 27%. Northwest Multiple Listing Service, which covers 21 counties in Washington state, including the Seattle area, reported Friday that contracts signed in May also were down 27% in its region.

In another sign of weak sales, the number of homes on the market is growing again. ZipRealty said the number of homes listed for sale in 26 major metro areas across the U.S. in May was up 1.7% from April. In a typical May, the inventory doesn’t increase from April, according to Ivy Zelman, chief executive of Zelman & Associates, a research firm.

Apparently, Manhattan isn’t seeing much of a lull in buying:

 “Now people seem to feel it’s okay to spend some money,” said Pamela Liebman, CEO of Corcoran Group, a big broker in Manhattan.

Even the always positive National Association of Realtors sounds not so optimistic:

Lawrence Yun, chief economist for the National Association of Realtors, estimated that contracts signed for home resales in May were down 20% to 30% from a year earlier. He expects June and July to remain fairly weak and will be watching nervously for signs of a rebound in August or September. “Housing cannot just depend on [government] stimulus forever,” Mr. Yun said.

Remember, 96% of all mortgages in the first quarter were backed by Freddie, Fannie and FHA.

As David Stevens, the head of FHA said last week:

“This is a market purely on life support, sustained by the federal government,” he said at the Mortgage Bankers Association conference. “Having FHA do this much volume is a sign of a very sick system.”

May home buying activity looks worse than expected [Wall Street Journal, James R. Hagerty and Nick Timiraos, June 4, 2010] 

FHA home financing volume sign of “very sick system” [Businessweek, Jody Shenn and John Gittelsohn, May 24, 2010]

We’ve chattered about The Churchill, at 1255 N. State Parkway, in the Gold Coast before.

Built in 1924, it is a favorite amongst vintage fans for its authentic vintage units, some with hidden interior outdoor terraces.

This bank owned 2-bedroom duplex is one of those with a big private outdoor terrace.

It also is now listed for $200,000 under the 2005 purchase price.

It has white kitchen cabinets and white appliances.

There is no central air, no washer/dryer in the unit and no parking.

But it does appear to have french doors and hardwood floors on the first level.

Yes, there is the big monthly assessment. This includes everything except your phone.

Will this be going back to the 1997 price point before it finally sells?

Angel Anguilar at Re/Max Platinum has the listing. See the pictures here.

Unit 2E3E: 2 bedrooms, 2 baths, duplex, no square footage listed

• Sold in August 1997 for $209,000
• Sold in August 2005 for $510,000
• Lis pendens filed in October 2008
• Bank owned in September 2009
• Listed in March 2010 for $309,900
• Currently still listed at $309,900
• Assessments of $1350 a month (includes everything except phone)
• Taxes of $2663
• Terrace
• No central air- window units only
• No in-unit washer/dryer
• No parking
• Bedroom #1: 21×18
• Bedroom #2: 11×11
• Living room: 21×13
• Kitchen: 8×8
• Family room: 15×11

This 2-bedroom unit at 1305 S. Michigan, in the Museum Park Lofts II, in the South Loop, is in short sale.

It’s only 1052 square feet, but it is a corner unit with a balcony.

With the parking included, it is listed for just under $300,000.

It has 10 foot ceilings, a fireplace and hardwood floors.

The kitchen has stainless steel appliances and granite counter tops. There is also a granite counter top in the master bathroom vanity.

With interest rates this low, is this unit now cheaper to buy than to rent?

Akos Straub at Jameson has the listing. See more pictures here.

Unit #1613: 2 bedrooms, 2 baths, 1052 square feet

• Sold in May 2006 for $377,500
• Originally listed in April 2009
• De-listed in March 2010
• Listed in April 2010 as a “short sale” for $264,900
• Currently still listed for $264,900 (parking $35,000 extra)
• Assessments of $461 a month (includes cable, doorman)
• Taxes of $5068
• Bedroom #1: 13×11
• Bedroom #2: 11×10

We last chattered about this nearly 2000 square foot 2-bedroom authentic loft in the Hale Lofts at 14 N. Peoria in the West Loop in December 2009.

See our prior chatter and pictures here.

Originally listed in July 2007, it was then on and off the market for nearly 3 years.

It has finally closed for $1,000 over the December 2009 asking price.

If you recall, it had an extremely unique stainless steel kitchen and modern bathrooms.

Randi Fine Katz at Koenig & Strey Real Living had the listing.

Unit #6G: 2 bedrooms, 2 baths, 1896 square feet

• Sold in April 2001 for $381,000
• First listed for sale in June 2007
• Re-listed in July 2008 for $595,000
• Reduced several times
• Re-listed in December 2009 at $508,000 (one parking space included- second available for extra)
• Sold in May 2010 for $509,000
• Assessments of $382 a month
• Taxes of $4860
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 24×12
• Bedroom #2: 15×15