Crib Chatter

Sorry for the lack of posts but my computer has died (only 4 months old!) and is in the shop being repaired. Regular posts will resume on Monday.

Meanwhile, the first time home buyer and move up tax credits come to an end today. News outlets around the country are reporting a surge of buyers coming in at the last minute to get in under the deadline.

Here in Chicago, the sales center at 565 Quince in the West Loop is staying open until midnight in order to handle any last minute buyers.

What will happen tomorrow and in the month of May now that the credit is going away?

In March, over 40% of home sales nationwide were first time home buyers.

This 3-bedroom vintage house at 2745 N. Sacramento in Logan Square hasn’t even been on the market a month yet but it was recently reduced by $5,000.

It looks like it is move-in ready as the listing says the kitchen and one of the baths are new.

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

There is a new marble bath.

Much of the original woodwork remains, including window moldings, and there are hardwood floors and original arches.

All three bedrooms are on the second floor and there is a large family room in the finished basement.

Built on a larger than standard Chicago lot of 30×130, the house has two decks.

It also has central air and a 2.5 car garage.

Chadwick Duda at Prudential Rubloff has the listing. See the pictures here.

• Sold in September 1995 for $120,000
• Sold in June 2007 for $470,000
• Originally listed in early April 2010 for $494,900
• Reduced
• Currently listed for $489,900
• Taxes of $5288
• Central Air
• Bedroom #1: 12×13
• Bedroom #2: 10×11
• Bedroom #3: 11×13

This 3-bedroom townhouse at 2827 N. Washtenaw in Avondale has a unique feature: its own turret.

The 4000 square foot townhouse has a catwalk that leads to an oak paneled library on the top floor of the turret.

The townhouse also sports ceiling heights of 12 to 18 feet throughout and a basement.

Two of the bedrooms are on the second floor and the third is on the third floor- which is also where the living/dining/kitchen area is located.

There’s central air and a 2-car garage.

Sam Jenkins at Conlon: A Real Estate Company has the listing. See more pictures here.

Unit A: 2 bedrooms, 2.5 baths, 4000 square feet, 2 car parking

• I couldn’t find a prior sales price
• Originally listed in December 2009 for $699,000
• Reduced several times
• Currently listed for $549,000
• Assessments of $421 a month
• Taxes of $8079
• Central Air
• Bedroom #1: 23×16 (second floor)
• Bedroom #2: 21×17 (second floor)
• Bedroom #3: 14×14 (third floor)
• Library in turret: 14×16

If you’re looking for a unique property, this 2-bedroom at 1001 W. Altgeld, in the Soda Pop Factory Lofts, in Lincoln Park may be for you.

It has an open kitchen concept with white cabinets, white appliances, quartz counter tops and a stone backsplash.

The loft also has one of the largest skylights I’ve seen.

The bedrooms have exposed brick walls and full ceiling heights for privacy.

But the crowning glory of this property is the 36×18 private roof top deck for those summer nights.

Joseph Semany at Westward Properties has the listing. See the pictures here.

Unit #9: 2 bedrooms, 2 baths, no square footage listed

• Sold in April 1987
• Sold in August 2004 for $337,000
• Currently listed for $399,000 (includes the parking)
• Assessments of $305 a month (includes cable)
• Taxes of $4841
• Bedroom #1: 16×11
• Bedroom #2: 10×10
• Living room: 17×16
• Kitchen: 11×9

We’ve chattered about this 2-flat at 1524 W. Byron in Lakeview several times in the last 2 years.

Much of the chatter was about what price makes sense for a buyer who wants to be a landlord.

See our January 2010 chatter here.

In that time, it appears that the rents have actually been falling on the units.

One of the units is listed on Craiglist as being reduced from $1200 a month to $995 a month.

See the Craigslist ad for the rental here.

The two units consist of:

1. Unit #1: 2 bedrooms, 1 bath, was rented for $1200 a month-  now asking $995 a month?
2. Unit #2: 2 bedrooms, 1 bath, rented for $1195 a month

There is no parking. The listing says the building is “land locked.”

There is central air and laundry in the basement.

Greg Viti at Koenig & Strey still has the listing. See the pictures here.

1524 W. Byron: 4 bedrooms, 2 baths, no parking

• Sold in 1995 for $209,000
• Was listed in July 2008 for $499,900
• Withdrawn
• Was listed in January 2010 for $499,900
• Reduced
• Currently listed for $489,000
• Taxes of $9452
• Separate central air/heat
• No parking

Many of you will remember this 3-bedroom house at 3652 N. Hermitage in Lakeview just from seeing the kitchen which was the original kitchen with the older stove and cabinets.

We last chattered about it in May 2009 when it finally sold after being on and off the market, and reduced, since August 2008.

See our interesting May 2009 chatter here discussing what $500,000 will get you in Chicago.

Just five days ago, and less than a year after its previous sale, the house returned to the market listed for $39,900 more than the 2009 sales price.

The house is already under contract.

Two of the three bedrooms are on the second floor. The house has central air and a 2-car garage.

Oh- and the kitchen has NOT been renovated. I know some of you will be happy with that news.

Is this a sign of a hotter real estate market?

(this is the picture of the kitchen from the prior sale)

Berg Properties has the listing. See more pictures here.

3652 N. Hermitage: 3 bedrooms, 2 baths, 2 car garage

• Sold in November 2002 for $386,500
• Originally listed in August 2008 for $599,900
• Withdrawn in November 2008 at $599,900
• Re-listed in April 2009 at $539,900
• Sold in May 2009 for $525,000
• Re-listed in April 2010 for $564,900
• Under contract within days
• Taxes of $6551
• Central air 
• Living room: 13×12
• Dining room: 10×10
• Kitchen: 14×12
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 18×12 (second floor)
• Bedroom #3: 9×9 (main floor)
• Partially finished basement

I could have sworn we had chattered about this 2-bedroom duplex unit at 39 E. Schiller in the Gold Coast. But a quick check of the archives showed that we haven’t.

It’s been on the market since October 2009 and is now listed for $160,000 under the 2005 purchase price.

At 2400 square feet, the listing says it has a fireplace and two balconies.

There are also hardwood floors.

The two bedrooms appear to be on different floors with the master bedroom on the second level.

It has central air and an in-unit washer/dryer but doesn’t appear to have deeded parking.

Is this a deal for the square footage in this location?

Rick Sherman at Realestate.com has the listing. See the pictures here.

Unit #1W: 2 bedrooms, 3.5 baths, 2400 square feet, duplex

• Sold in May 1999 for $510,000
• Sold in August 2002 for $662,500
• Sold in March 2005 for $710,000
• Originally listed in October 2009 for $680,000
• Lis pendens foreclosure filed in November 2009
• Reduced several times
• Currently listed for $550,000
• Assessments of $875 a month (includes cable and special assessment)
• Taxes of $7196
• Central Air
• Washer/Dryer in the unit
• No parking
• Bedroom #1: 26×14 (second level)
• Bedroom #2: 20×14 (main level)

This 6-unit building at 4410 N. Hermitage in Uptown was built in 1930.

It has some of the same elegant vintage features of the bigger buildings along the lake front which were built in the same era including arched doorways, built-in bookcases in the living room and built-in china cabinets in the dining room.

Is the living room fireplace just for show? The listing doesn’t mention it so it may just be decorative.

Despite it being a vintage unit, the property has been updated with a Subzero refrigerator and Bosch dishwasher. There are also granite counter tops.

The unit has an in-unit washer/dryer but no central air and no deeded parking. It is only a short stroll to the Montrose Brown Line el stop, however.

The unit is now listed for $15,100 under the 2005 purchase price.

Is this a deal?

Mark Pasquesi at Prudential Rubloff has the listing. See the pictures here.

Unit #2E: 1 bedroom, 1 bath, no square footage listed

• Sold in April 1993 for $67,000
• Sold in June 1994 for $85,000
• Sold in September 2000 for $190,000
• Sold in August 2005 for $245,000
• Originally listed in March 2010 for $239,900
• Reduced
• Currently listed for $229,900
• Assessments of $193 a month
• Taxes of $2538
• Bedroom: 16×12
• Living room: 18×14
• Dining room: 12×9
• Kitchen: 9×7
• Foyer: 13×4

This 3-bedroom top floor condo at 1347 N. State Parkway in the Gold Coast has been on and off the market since October 2009.

Last purchased in 2005, it is currently listed for $350,000 more than the prior purchase price.

The unit is as large as some single family homes- at 2900 square feet.

Built in 1906, the walk-up unit has some of the original features including the crown molding.

However, the wood burning fireplace is now surrounded by burnished metal tiles.

The kitchen has white cabinets and stainless steel appliances. There is an enclosed screened in porch with wood slotted paneling on the walls and ceiling (must see the pictures to see what I mean.)

The listing also says there is a roof top deck private to just this unit but, alas, there are no pictures.

There is central air and a washer/dryer in the unit but no deeded parking.  It is available for rent nearby.

Pamela Sage at Baird & Warner has the listing. See the pictures here.

Unit #3: 3 bedrooms, 2 baths, 2900 square feet

• Sold in October 1997 for $477,000
• Sold in February 2003 for $950,000
• Sold in July 2005 for $1.11 million
• Originally listed in October 2009
• Withdrawn
• Re-listed in January 2010 for $1.45 million
• Currently listed for $1.45 million
• Assessments of $670 a month
• Taxes of $11,500
• No parking – leased nearby for $350 a month
• Central Air
• In-unit washer/dryer
• Bedroom #1: 18×12
• Bedroom #2: 12×11
• Bedroom #3: 11×10
• Private roof top deck

1224 W. Van Buren, or VB1224 as it is known, in the West Loop is a loft conversion building that has been around a couple of years.

The developer just slashed prices on the remaining units by at least 20%.

The units have 42 inch cabinets in the kitchen and quartz counter tops.

They also have 4 inch wide plank floors.

Here are some of the price reductions:

1 bedroom plus den:

• Was $275,900
• Now $239,900

1 bedroom plus den with parking:

• Was $307,900 plus parking
• Now $256,900

2 bedrooms with parking:

• Was $349,900 plus parking
• Now $285,900

@Properties is handling the sales.

See pictures of the units here.

The developer faces some competition from original buyers, who are now sellers, however.

For instance, this 2/2, Unit #609, is currently listed as a “short sale” for $255,000 plus $25,000 for the parking.

It is currently under contract.

And yes, that is the Eisenhower Expressway right next to the balcony.

See the pictures for Unit #609 here.

Unit #609: 2 bedrooms, 2 baths, 1430 square feet

• Sold in July 2007 for $425,500 (included the parking)
• Originally listed in May 2009
• Reduced several times
• Currently listed as a “short sale” for $255,000 (plus parking of $25,000)
• Under contract
• Assessments of $569 a month
• Taxes of $5714
• Central Air
• Washer/Dryer in the unit