Crib Chatter

This large 3-bedroom loft at 1101 W. Lake in the West Loop just came on the market.

The building houses both commerical and residential tenants making it a truly live/work environment.

The 2250 square foot loft has exposed brick walls and 14-foot timber ceilings.

The custom kitchen has Viking stainless steel appliances and a huge kitchen island with granite countertops.

The master bathroom has an oversized jacuzzi tub and a steam shower.

Parking is included.

Jason Beckstrom at Conlon: A Real Estate Company has the listing. See more pictures here.

Unit #5B: 3 bedrooms, 2 baths, 2250 square feet

• Sold in October 2005 for $322,000
• Currently listed for $629,000
• Assessments of $284 a month
• Taxes of $10456
• Central air
• Underground parking included
• Bedroom #1: 18×19
• Bedroom #2: 9×12
• Bedroom #3: 15×18

First American CoreLogic just released its first quarter report on negative equity in the United States.

The Chicago market has more homeowners underwater than you would think (and I don’t know if this means Chicago, the city, or the entire Chicagoland area.)

The metropolitan markets with the most underwater home owners in first quarter were:

1. Phoenix: 550,000
2. Riverside: 463,000
3. Los Angeles: 406,000
4. Atlanta: 399,000
5. Chicago: 365,000

Report: 11.2 million U.S. Properties with Negative Equity in Q1 [Calculated Risk Blog, May 10, 2010]

Additionally, according to the Chicago Tribune, Zillow is also releasing a report on negative equity with these findings on Chicago:

Within Chicago, 62 percent of homes sold for a gain in March, or 57 percent of single-family homes and almost 70 percent of condos.

Translation: 43% of single family home owners sold for a loss and 30% of condo owners sold for a loss in Chicago in March.

In the entire Chicago area, 40% of all homes in March also sold for less than the owner had paid.

Zillow: 40% of home sellers took a loss in March [Chicago Tribune, Mary Ellen Podmolik, May 10, 2010]

Also, John Paulson, the hedge fund manager who made a now famous, and lucrative, bet against the housing market a few years ago when he believed a housing crash was coming, is now saying every American should buy real estate.

Paulson is now bullish on the U.S. economy, expecting a V-shaped recovery as the housing market rallies.

On Monday, Paulson said U.S. house prices could climb 3% to 5% in 2010. Next year, prices could rally 8% to 12%, he added.

Home ownership in the U.S. is the most affordable it’s been in 50 years, Paulson also said. Based on median home prices and the cost of mortgages versus median household income, houses are roughly 60% more affordable than they were at the peak of the housing bubble in 2005, Paulson said.

“My advice to all Americans — if you don’t own a home today now’s the time to buy one,” Paulson said. “If you already own one, now’s the time to buy another one. If you already own two, it’s time to help your children buy a home.”

A solid housing market should “cement” stronger-than-expected economic growth, Paulson said, forecasting GDP to expand 4% to 5% in 2011.

European debt market ‘managable’, Paulson says [Marketwatch.com, May 10, 2010]

This 2-flat at 1823 W. Cornelia in Roscoe Village first came on the market in March 2010.

The listing now says it is a “pre-foreclosure” and priced for a quick sale.

Apparently it worked as it is now under contract the day it was reduced.

The 2-flat consists of the following:

1. 3 bedrooms, 2 bath duplex up “owners” unit: rented for $2650 a month
2. 1 bedroom, 1 bath: rented for $1300 a month

Both units have central air and tenants pay their own gas and electric. There is a two car garage.

The property is built on a larger than standard Chicago lot of 37×125.

There are no interior pictures of the property.

The listing also says that the building has rental income of $47,400 a year.

It is located one house west of the Brown Line El tracks.

Does this 2-flat make sense even at this pre-foreclosure price?

George Cuevas at Jameson has the listing. See the listing here.

1823 W. Cornelia: 4 bedrooms, 3 baths, 2 car garage, 2-flat

• Sold in April 1992 for $205,000
• Sold in January 1998 for $335,000
• Lis pendens foreclosure filed in November 2009
• Originally listed in March 2010 for $579,900
• Reduced
• Listed as a “pre-foreclosure” at $525,000
• Under contract
• Taxes of $3594
• Central Air

This 3-bedroom townhouse at 2208 W. Diversey in Logan Square (not sure on the neighborhood- Avondale?) has something very few other properties can claim: a direct Chicago River location.

The townhouse has 41 feet of direct river frontage with 15-foot 2-story windows to take it all in.

The main living area has ceiling heights of 20 feet. And there is a terrace directly on the river. You can probably see fish swimming by while eating your breakfast.

The 3-bedrooms are all on the second level and it appears that two of the bedrooms have skylights.

The kitchen has dark cabinets and stainless steel appliances.

There is a 2-car garage.

Matt Garrison at Coldwell Banker has the listing. See more pictures and the floorplan here.

Unit #C: 3 bedrooms, 2.5 baths, 2400 square feet, 2 car garage

• Sold in August 2002 for $425,000
• Sold in December 2005 for $487,500
• Currently listed for $579,900
• Assessments of $318 a month
• Taxes of $7023
• Central Air
• Bedroom #1: 16×12
• Bedroom #2: 15×13
• Bedroom #3: 18×11

We first chattered about this 2-bedroom vintage unit at 507 W. Aldine in East Lakeview all the way back in February 2009.

See our February 2009 chatter and pictures here.

It has since gone into short sale (for nearly a year now) and has been under contract several times (from what I can tell) only to re-appear for sale again.

It has also been reduced again by another $14,000.

The unit has all the bells and whistles except central air. It has deeded parking (rare for East Lakeview) and washer/dryer in the unit.

It also has a wood burning fireplace and a dining room.

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

What will it take to finally sell this property?

Brent J. Rosenbower at Sudler Sotheby’s still has the listing. See the pictures here.

Unit#2B: 2 bedrooms, 2 baths, dining room, no square footage listed

• Sold in May 1995 for $154,000
• Sold in June 1998 for $199,000
• Sold in April 2000 for $243,000
• Sold in March 2007 for $379,000
• Was listed in February 2009 for $410,000 (included the parking)
• Reduced
• Was listed in March 2009 for $399,900 (included the parking)
• Reduced
• Was listed in May 2009 for $375,000 (includes the parking)
• Reduced
• Was listed as a short sale in June 2009 for $339,000
• Under contract
• Re-listed in September 2009 for $339,000
• Under contract
• Re-listed in May 2010 for $325,000
• Assessments of $344 a month
• Taxes of $4878
• No central air- only window units
• In-unit Washer/Dryer
• Wood-burning fireplace
• Deeded parking included
• Bedroom #1: 14×12
• Bedroom #2: 12×11

We last chattered about this vintage 1-bedroom plus dining room at 737 W. Brompton in East Lakeview just over a month ago.

See our prior chatter and pictures here.

It has since been reduced by $20,000.

The unit has hardwood floors throughout, a wood burning fireplace and a unique window in the sunroom.

It also has central air. While there is no washer/dryer in the unit, the listing says one can be added.

There is no parking.

Mary Ann Genellie at Prudential Rubloff still has the listing. See more pictures and a virtual tour here.

Unit #2S: 1 bedroom, 1 bath, dining room, sunroom, no square footage listed

• Sold in September 1994 for $118,000
• Sold in March 2002 for $195,000
• Originally listed in December 2009 for $248,900
• Deactivated
• Re-listed in March 2010 and currently listed at $248,900
• Reduced
• Currently listed for $228,900
• Assessments of $132 a month
• Taxes of $2797
• Central Air
• No in-unit washer/dryer (can be added)
• No parking
• Bedroom #1: 13×11
• Living room: 17×11
• Dining room: 16×11
• Kitchen: 12×8
• Sunroom: 10×6

We’ve chattered about this 2-bedroom Victorian vintage unit at 4110 N. Southport in Graceland West several times (and yes, we had a discussion about whether or not this is “Lakeview” or “Ravenswood” or “Graceland West”.)

See our December 2009 chatter here.

The unit had all the bells and whistles including central air and an in-unit washer/dryer. However, it didn’t have deeded parking.

It also had a lot of its vintage features intact and a large enough dining room to hold some serious dinner parties.

Eric Rojas at Prudential Rubloff had the listing.

You can also check out Eric’s real estate blog here.

Unit #2:  2 bedrooms, 1 bath,  no square footage listed

• Sold in December 1993 for $100,500
• Sold in July 2004 for $253,000
• Was listed in September 2009 for $289,900
• Reduced
• Was listed in December 2009 at $285,000
• Sold in May 2010 for $262,000
• Assessments of $226 a month
• Taxes of $2842
• Central Air
• Washer/Dryer in the Unit
• No parking
• Bedroom #1: 10×9
• Bedroom #2: 10×9
• Living room: 18×10
• Dining room: 16×12
• Kitchen: 12×12

The listing for this bungalow at 1730 N. Natchez in Galewood says it is on Chicago’s list of Historic Bungalows.

It also is on a bigger than standard Chicago lot at 32×173.

The 4-bedroom home has two bedrooms upstairs and two on the main floor. It also has a full basement.

Built in 1929, many of its vintage features remain including stained glass windows in the living room, built-ins and woodwork.

There are hardwoods throughout and bamboo in the second floor master bedroom.

The kitchen has granite counter tops and stainless steel appliances.

There is also a 2-car garage but no central air.

Pauline Sharpe at Weichert Realtors-Nickel Group has the listing. See the pictures here.

1730 N. Natchez: 4 bedrooms, 2 baths, 2 car garage

• Sold in June 1996 for $151,000
• Sold in July 2002 for $234,000
• Sold in June 2004 for $310,000
• Currently listed for $355,000
• Taxes of $3551
• No central air
• Bedroom #1: 14×17 (second floor)
• Bedroom #2: 14×10 (main floor)
• Bedroom #3: 11×12 (main floor)
• Bedroom #4: 11×12 (second floor)

This 3-bedroom loft at 1400 W. Chestnut in West Town isn’t your ordinary loft.

It is a first floor unit with authentic tin ceilings and tall windows.

It has hardwood floors, crown molding and a fireplace.

And if you’re looking for open spaces, it has 2500 square feet of it.

The kitchen has stainless appliances and there is a private patio.

Molly Boyd at Prudential Rubloff has the listing. See the pictures here.

Unit #1: 3 bedrooms, 3 baths, 2500 square feet

• Sold in August 1998 for $259,000
• Originally listed in March 2010 for $400,000 (parking $15,000)
• Currently still listed for $400,000 (parking $15,000)
• Assessments of $100 a month
• Taxes of $4941
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 18×12
• Bedroom #2: 14×12
• Bedroom #3: 14×12

It’s been awhile since we chattered about the big condo units in buildings such as this one at 7455 N. Hoyne in Rogers Park.

Built in 1929, the 6-unit Tudor style building has juliette balconies and big units.

At 1825 square feet, Unit #1N, has more space than many single family homes.

It also has vintage features such as crown molding and a wood burning fireplace.

But it is not without the modern amenities of central air and washer/dryer in the unit. Parking is available.

The listing describes the kitchen as a “posh Euro kitchen.”

It is also under contract after first being listed 11 months ago.

Santiago Valdez at Re/Max Signature has the listing. See more pictures here.

Unit #1N: 3 bedrooms, 2 baths, 1825 square feet

• Sold in February 1994 for $82,000
• Sold in October 1996 for $109,500
• Sold in September 2001 for $209,000
• Sold in October 2003 for $229,500
• Sold in August 2004 for $244,000
• Originally listed in June 2009 for $249,900
• Reduced
• Currently listed at $249,000
• Under contract
• Assessments of $330 a month (includes heat)
• Taxes of $2720
• Central Air
• Washer/Dryer in the unit
• Parking available
• Bedroom #1: 14×12
• Bedroom #2: 13×10
• Bedroom #3: 12×11