Crib Chatter

We last chattered about this 3-bedroom penthouse unit at 800 W. Cornelia in the heart of Lakeview in December 2009.

See our prior chatter and pictures here.

Back then, in the middle of winter, it’s doubtful buyers could appreciate the 20×14 private rooftop terrace.

Many of you thought that it would sell quickly if reduced from $699k to the lower $600ks.

It has recently sold for $655,000, or $41,000 over the 2004 purchase price.

In addition to the rooftop deck, the unit also had a family room and 2-car parking, which is a rare amenity for a Lakeview condo.

Is this sale a sign the upper bracket market is perking up?

Kevin Tatum at Re/Max Edge had the listing.

Unit #408: 3 bedrooms, 2.5 baths, 1825 square feet

• Sold in November 2004 for $614,000
• Listed in October 2009 for $699,000
• Was listed in December 2009 for $699,000
• Sold in May 2010 for $655,000 (2 parking spaces included)
• Assessments of $476 a month (includes cable)
• Taxes of $10,359
• Central Air
• Washer/Dryer in the unit
• Fireplace
• Family room: 14×13

Thanks to all those who pointed out the continued decline in the March Case Shiller condo index for Chicago.

RyanC posted the link below to a SeekingAlpha blog post, complete with a great chart, on how Chicago’s condo market has taken a turn for the worst.

A few months ago, Gary Lucido, our resident real estate agent and expert, believed the market had hit a bottom. And he seemed to be right, until the last few months of data.

The SeekingAlpha blog implies Chicago is “re-busting” (i.e. double dipping):

In fact, prices are now down over 12% on a year-over-year basis and 4.84% since just last month.

To put that startling pace of decline in perspective, the recent price drop would put anyone who purchased a home within the last 12 months with less than 12% down under water while also stripping all the equity from any “buyer” who closed in just the last 30 days with less than 5% down.

Chicago condo (and single family home prices) are continuing to decline while other cities in the index are seeing more stabilization (or, in some cases, price increases.)

Is Chicago’s condo market now the worst in the nation?

Chicago Condos Re-Busting: More March Case-Shiller Analysis [SeekingAlpha, by Sold at the Top, May 26, 2010]

If you’re looking for unique architecture, look no further than this French Provincial style home at 9221 S. Bell in Beverly.

Built in 1937,  it has some of its original features including hardwood floors with mahogany inlay and crown molding.

The bathrooms have been updated. The master bathroom has Italian terrezo marble while the second full bath is carrera marble.

All 4 bedrooms are on the second floor and there is a finished basement.

The kitchen has white appliances and I can’t tell what kind of counter tops but it does not look like granite.

There are also french doors which lead to an elegant stone terrace.

The house is built on a larger than standard Chicago lot of 63×132, has central air and a 2 car garage.

Michael Shenfeld at Koenig & Strey has the listing. See the pictures here.

9221 S. Bell: 4 bedrooms, 2.5 baths, 2 car garage, no square footage listed

• Sold in May 1988 for $200,000
• Sold in September 1991 for $207,000
• Sold in April 2005 for $525,000
• Currently listed for $550,000
• Taxes of $7040
• Bedroom #1: 21×15
• Bedroom #2: 16×14
• Bedroom #3: 14×12
• Bedroom #4: 14×10

Many of you have been asking to see properties in the interior suburbs so your wish is my command.

This 2-bedroom vintage bungalow at 813 N. Taylor in Oak Park has a swing on its enclosed front porch.

Built in 1915 on a 30×126 lot, it has hardwood floors throughout the main level and a semi-finished basement.

The kitchen appears to have white appliances, white cabinets and some butcher block counter tops.

There is no central air, but there is a 2 car garage.

Is this a good condo alternative for those looking for no shared walls and a backyard of their own?

Tony Nasca at Coldwell Banker has the listing. See more pictures here.

813 N. Taylor: 2 bedrooms, 1.5 baths, 2 car garage, no square footage listed

• Sold in December 1989 for $172,000
• Originally listed in April 2010 for $279,900
• Currently still listed for $279,900
• Taxes of $4913
• No Central Air
• Bedroom #1: 11×10
• Bedroom #2: 11×10
• Living room: 12×14
• Kitchen: 11×10
• Dining room: 12×11

We’ve chattered about the Donohue Annex at 727 S. Dearborn in Printers Row many times.

It is the brick and concrete side of the Donohue building with the original operational bird cage elevator (if you ever get a chance, it’s worth it to go on the South Loop Loft tour in the fall just to check out the elevator.)

This 2-bedroom is on the top floor and the listing says it has roof rights.

It also has exposed brick, the original maple floors and the large open floor plan that loft lovers live for.

The kitchen appears to have granite counter tops and stainless steel appliances.

There’s a wood burning fireplace in the bedroom.

There is no central air but there is in-unit washer/dryer. Parking is available for purchase across the street.

The unit has been on and off the market since 2008.

Will this time finally be the charm?

Maryellen Shannon at Coldwell Banker has the listing. See the pictures here.

Unit #910: 2 bedrooms, 1.5 baths, 2100 square feet

• Sold in July 1997 for $227,000
• Listed in 2008
• Listed in 2009
• Originally listed in April 2010 for $549,000
• Reduced
• Currently listed for $499,000
• Assessments of $1120 a month (includes heat, cable)
• Taxes of $5473
• No central air- window units only
• Washer/dryer in the unit
• Parking available
• Bedroom #1: 14×15
• Bedroom #2: 14×12

This 1419 square foot 1-bedroom unit at Trump Tower Chicago, at 401 N. Wabash, in River North not only has a huge private terrace but it is also amongst the most expensive 1-bedroom condos available in the city.

Located on the 51st floor, there are city views from every angle from your private 2000 square foot fenced in terrace.

The listing says only 6 units in the building have the terrace space.

The unit has hardwood floors.

The kitchen has Snaidero cabinets, granite counter tops, and a luxury appliance package that includes Subzero, Miele and Wolf.

Who’s the buyer for a unit like this?

Philip Skowron at Crown Heights Realty has the listing. See the pictures here.

Unit #51G: 1 bedroom, 1.5 baths, 1419 square feet

• I couldn’t find an original sales price
• Listed in March 2010 for $1.495 million
• Still listed for $1.495 million
• Assessments of $1192 a month (includes doorman, cable)
• Taxes are “new”
• 2000 square foot terrace
• Parking is extra
• Bedroom: 18×16
• Living room: 18×20
• Kitchen: 14×11

We’ve chattered about this 2-flat at 1618 N. Cleveland in Old Town several times.

See our April 2010 chatter here.

It was recently lowered in price again and is now listed for $100,000 under its original list price in February 2010.

Once listed as an investment property, now it’s about “location, location, location” and converting the property into a single family home.

The 2-units are as follows:

1. Unit 1: 3 bedrooms, 1 bath, currently rented for $1200 a month
2. Unit 2: 2 bedrooms, 1 bath, currently rented for $1200 a month

There is a 2-car garage with the property.

There is also central air and heat with is separately metered and a washer/dryer in the basement.

Is this getting juicy in terms of buying it to convert into a single family home?

Sandra Adler at Prudential Rubloff still has the listing. See the pictures here.

1618 N. Cleveland: 5 bedrooms, 2 baths, 2 car garage, 2-flat

• I can’t find an original sales price but last sale was in 1998
• Was listed in February 2009 for $590,000
• Reduced
• Was listed in April 2010 for $540,000
• Reduced
• Currently listed for $490,000
• Taxes of $10,712
• Central Air

This 2-bedroom unit at 1350 W. Fullerton, the Altgeld Club, in Lincoln Park is just a few blocks from the DePaul campus and the Fullerton El stop.

Built in 1997, the mid-rise building has 60 units.

The unit has hardwood floors and the second bedroom has been opened up and is being used as an office.

The kitchen has 42 inch maple cabinets and corian countertops.

The master bath has side by side sinks and a separate tub and shower.

When you add in the price of parking (which is extra), this unit is listed for less than $375,000.

For the location and square footage, is this a steal?

Beth Wexler at @Properties has the listing. See the pictures here.

Unit #309: 2 bedrooms, 2 baths, 1270 square feet

• Sold in May 1998 for $231,000
• Sold in October 2004 for $360,500
• Originally listed in early May 2010 for $375,000
• Reduced
• Currently listed for $350,000 (parking $20,000)
• Assesssments of $371 a month
• Taxes of $4608
• Bedroom #1: 14×14
• Bedroom #2: 10×9

We last chattered about this 3-bedroom duplex down vintage greystone unit at 2227 W. School in Roscoe Village in March 2010.

See our prior chatter here.

Some of you thought it would sell at $25k off the March list price.

Instead, it sold just $9k lower than the March ask.

The unit had all the bells and whistles including a parking space, central air and in-unit washer/dryer that buyers look for.

Some of the vintage features were also intact such as wood work and a built-in hutch. The kitchen had been updated and had stainless steel appliances and granite counter tops.

The bedrooms were split, however, with the master bedroom in the duplex down.

Craig Faust at @Properties had the listing.

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

• Sold in June 2002 for $285,000
• Sold in September 2003 for $287,500
• Sold in September 2004 for $303,000
• Originally listed in May 2009
• Withdrawn in October 2009
• Re-listed in February 2009 for $415,000
• Reduced
• Was listed in March 2010 at $399,000
• Sold in May 2010 for $390,000
• Assessments are $133 a month
• Taxes of $5650
• Bedroom #1: 16×12 (lower level)
• Bedroom #2: 13×8
• Bedroom #3: 10×8
• Living room: 14×11
• Dining room: 15×12
• Kitchen: 11×11
• Breakfast room: 8×8

We last chattered about this 3-bedroom single family home at 832 N. Marshfield in the East Village neighborhood of West Town in March 2010.

See our prior chatter and pictures here.

We compared it with a duplex condo of similar size which would also probably list for around a similar price. Many of you thought a price of $500k would be stretching it.

It is now listed just under $500,000.

This home has 20-foot high ceilings in the living room.

It also has a backyard and a 2-car garage as well as air conditioning.

All three bedrooms are on the second floor of the house.

There aren’t many single family homes priced under $500,000 in this neighborhood. Does that make this now a deal?

Jay Kuchenbecker at Conlon still has the listing. See more pictures here.

832 N. Marshfield: 3 bedrooms, 2.5 baths, no square footage listed, 2 car garage

• Sold in May 1994 for $43,000
• Sold in October 1994 for $96,000
• Was listed in March 2010 for $549,900
• Reduced
• Currently listed for $499,900
• Taxes of $7652
• Central Air
• Bedroom #1: 16×14
• Bedroom #2: 12×12
• Bedroom #3: 12×12