Mag Mile 2-Bedroom With Views Reduced Over $1.9 Million: 950 N. Michigan
We last chattered about this 2-bedroom unit at 950 N. Michigan in June 2008.
See our prior chatter here.
Since then, it has been reduced by $1,949,900.
There is also furniture in the unit now whereas before it was completely empty.
The condo has been renovated and has walnut floors, stone bathrooms (make sure you check out that picture) and a modern kitchen with stainless steel appliances.
This unit has views of the lake and a small terrace.
Parking is available in the building, but it’s leased.
Will this finally sell at this reduced price?
Melinda Jakovich at Coldwell Banker has the listing. See the pictures here.
Unit #5402: 2 bedrooms, 2.5 baths, no square footage listed
- Sold in October 2005 for $1.175 million
- Was listed in June 2008 for $3,499,900
- Reduced several times
- Currently listed at $1.550 million
- Assessments of $1400 a month (includes pool and security)
- Taxes are $19,362
- Central Air
- Washer/Dryer in the unit
- Leased parking
- Bedroom #1: 25×15
- Bedroom #2: 13×12
Bank-Owned Multi-Unit Sold for $515,000 Under 2006 Price: 3510 N. Ashland in Lakeview
We chattered about this bank-owned multi-unit building at 3510 N. Ashland in Lakeview several times.
See our September 2009 chatter and pictures here.
It finally sold in September 2009 for $515,000 under the 2006 purchase price but above the 2003 price.
We’ve debated if this made sense from an investment point of view. Apparently, the new owner will soon find out.
David Piche at Re/Max Signature had the listing.
3510 N. Ashland: 3-flat, 9 bedrooms, 4 baths, 3 car parking
- Sold in December 2003 for $470,000
- Sold in September 2006 for $1.1 million
- Bank owned in January 2009
- Originally listed in April 2009 for $713,900
- Was still listed in May 2009 at $713,900
- Reduced several times
- Was listed in September 2009 for $626,900
- Sold in September 2009 for $585,000
- Taxes of $10,144
- All utilities separate
- W/D in each unit
- Central Air
Market Conditions: Foreclosure Filings Jump 67% in Cook County in October Year-Over-Year
Illinois had the dubious distinction of being 3rd in the nation in October for the number of foreclosure filings with 19,946, the highest monthly total since January 2005. It beat out states such as Michigan, which ranked 7th.
One in every 263 homes in Illinois received a filing.
In Cook County, the closest set of data we have for the city of Chicago, foreclosures filings spiked 67% from a year ago to 11,494. It was also 131% higher than September.
There are government forces at work which led to the sudden spike.
From the Associated Press:
The rise in Illinois in October compared with September can largely be attributed to foreclosure activity catching up in the wake of a state law signed in April giving delinquent homeowners more time to work out deals with lenders, says Rick Sharga, senior vice-president at RealtyTrac.
The law created artificially low numbers for a several months earlier this year in Illinois, Sharga says. The numbers have increased as lenders have learned how to work through the process in the wake of the law.
Illinois third highest state with foreclosures [Sun-Times, Francine Knowles, Nov 12, 2009]
Local foreclosure activity jumps after artificially low period [Associated Press, Nov 12, 2009]
Live Above the Stables in Kenwood: 4935.5 S. Greenwood
A 3-bedroom coach house just came on the market at 4935.5 S. Greenwood in Kenwood.
Designed by Daniel Burnham, the 4400 square foot residence has a 3 bedroom apartment on the second floor and stables and a former carriage area on the first floor. The listing says it could be additional living space or kept as a studio.
The listing also says that many of the original elements of the 1887 structure have been left intact but we can’t see that because there are no interior pictures available.
The coach house is on a 57×78 lot.
I couldn’t find any other information about the property but it’s certainly at the rear of 4935 S. Greenwood.
If anyone has gone in it or goes in it- please chime in.
Could this be a great opportunity for an artist residence?
Robert Sullivan at Urban Search has the listing. See the listing here (front picture of the coach house only).
4935.5 S. Greenwood: 3 bedrooms, 2.5 baths, 4400 square feet (includes both levels), 2 car parking
- I couldn’t find an original sales price- sometime before 1994
- Currently listed for $525,000
- Taxes of $7416
- Central Air
- Bedroom #1: 16×18
- Bedroom #2: 13×18
- Bedroom #3: 13×13
- Living room: 16×19
- Kitchen: 10×13
- Dining room: 13×19
11 Months Later and Now Under Contract: 2031 W. Evergreen in Wicker Park
We last chattered about this 2-bedroom unit at 2031 W. Evergreen in Wicker Park in June 2009.
See our prior chatter and pictures here.
Originally listed in December 2008, it is finally under contract after being reduced by nearly $50,000.
It seemed to have it all including 1o-foot ceilings, stainless steel and granite in the kitchen, central air, in-unit washer dryer and a parking space.
The unit is also located in the heart of Wicker Park, near the restaurant scene and public transportation.
Jackie Lafferty at Baird and Warner still has the listing. See more pictures here.
Unit #2W: 2 bedrooms, 2 baths, no square footage listed
- Sold in March 1998 for $187,500
- Sold in March 2000 for $259,500
- Sold in July 2005 for $373,000
- Originally listed in December 2008 for $389,000
- Reduced
- Was listed in June 2009 for $359,900 (parking included)
- Reduced
- Currently listed for $339,999 (parking included)
- Under contract
- Assessments of $134 a month
- Taxes of $3780
- Central Air
- Washer/Dryer in the unit
- Living room: 25×13
- Kitchen: 10×9
- Dining room: 10×6
- Bedroom #1: 12×14
- Bedroom #2: 11×9
2-Bedroom Loft in River North in Short Sale: 333 W. Hubbard
We’ve chattered about Union Street Lofts at 333 W. Hubbard in River North several times in the past.
The complex has two buildings, the authentic brick and concrete loft building that overlooks the Merchandise Mart and the newer building with high ceilings and exposed ductwork but no exposed brick or concrete features at the front of the complex.
This 2-bedroom that is now in short sale is in the newer part of the complex.
It’s a northwest corner unit with hardwood floors, 42 inch cabinets and granite counter tops in the kitchen. Parking is included in the price. It has central air and an in-unit washer/dryer.
Is this a good deal on a basic starter unit or an in-town?
Scott Foster at Re/Max Exclusive has the listing. See the pictures here.
Unit #4-C: 2 bedrooms, 2 baths, 1237 square feet
- Sold in October 1999 for $268,500
- Sold in May 2003 for $315,500
- Lis pendens foreclosure filed in September 2009
- Listed in October 2009 for $367,000
- Reduced
- Listed as a short sale in November 2009 for $350,000 (parking included)
- Assessments of $591 a month (includes heat, air, gas, cable, doorman)
- Taxes of $2008
- Central Air
- Washer/Dryer in the unit
The Single Family Home in the Perfect Bucktown Location: 1744 N. Wilmot
This 4-bedroom single family home at 1744 N. Wilmot appears to be in a nearly perfect location in Bucktown.
It is close, but not too close, to the Damen El line stop and is just a hop, skip and a stroll over to the restaurants and bars on Damen and Milwaukee.
It is also on a cul de sac.
Built in 1999, the home has Italian cherry cabinets, granite counter tops and stainless steel appliances in the kitchen.
It also has a lower level media room with a home theater system.
Is this home in a “perfect” Bucktown location?
Laura Rango at @Properties has the listing. See the pictures here.
1744 N. Wilmot: 4 bedrooms, 3.5 baths, 2 car garage
- Sold in April 1995 for $110,000 (prior house)
- Sold in August 1995 for $148,000 (prior house)
- Sold in May 1999 for $550,000
- Originally listed in September 2009 for $895,000
- Reduced
- Currently listed for $839,000
- Taxes of $12823
- Bedroom #1: 16×13
- Bedroom #2: 11×9
- Bedroom #3: 14×10
- Bedroom #4: 14×10 (lower level)
Live in a Vintage Single Family Home ON Wicker Park: 1933 W. Schiller
Forget about living in Wicker Park. What about across the street from it?
This 3-bedroom brick single family home at 1933 W. Schiller was built in 1891 and is literally across the street from Wicker Park.
Situated at the back of the long 162 foot lot, it has more of a front yard than anything else.
The layout is unusual as 2 out of the three bedrooms are on the first floor along with the 1-car garage and a full bath.
The second floor has the master bedroom and the other living areas.
The house has a carved wood staircase, crown moldings and a fireplace.
Although it is a vintage property, it also has central air.
Jeff Lowe and Josh Feeney at Prudential Rubloff have the listing. See more pictures here.
1933 W. Schiller: 3 bedrooms, 2 baths, 1 car garage, 2000 square feet
- Sold in January 1996 for $208,000
- Originally listed in April 2009 for $599,000
- Reduced
- Currently listed for $598,900
- Taxes of $7424
- Central Air
- Washer/Dryer
- Bedroom #1: 14×14 (lower level)
- Bedroom #2: 10×8 (lower level)
- Bedroom #3: 14×12 (upper level)
The $14 Million Chicago Condo: 65 E. Goethe in the Gold Coast
Since everyone else has been talking about it, we will too.
Both Crain’s and the Chicago Tribune have had stories on the penthouse condo that just came on the market at 65 E. Goethe in the Gold Coast for $14 million.
It’s the most expensive property on the market within the city limits and dwarfs the next closest condo by $6 million (if you exclude penthouse units at Trump, which aren’t “on” the market.) The closest single family home is around $10 million.
The condo is owned by billionaire William Wrigley Jr.
Unfortunately for him, he’s never lived in it. It is still raw space.
From the Tribune’s Elite Street column:
He purchased the penthouse, which is three units combined into one, in 2002 for $9,775,000. Twice since buying it, Wrigley resolved to build out the space, but both times changed his mind, said his listing agent, Jim Kinney of Baird & Warner.
Wrigley, 46, now has decided to sell the penthouse, and his Goethe LLC company, which owns it, listed it on Oct. 21.
The penthouse includes two 1,500-square-foot outdoor spaces on the roof, plus six garage spaces, Kinney said. In addition, Wrigley is including architectural drawings that he commissioned for the space in the asking price.
“We would prefer to sell it to one person, but we have had a couple of people come forward and say, ‘I’m interested in the space, but I don’t need all of it,’ ” Kinney said. “Bill doesn’t want to sell it piecemeal. If we had two people who wanted to buy it and split it, we would do that.”
Kinney pointed out how rare it is to find so much square footage on one floor in the Gold Coast, plus outdoor spaces and parking.
“And it’s such a prestigious building,” Kinney said. “It’s sort of a Who’s Who of Chicago that lives there. It’s a matter of the right timing to get the right match.”
Any guesses as to how long this will take to sell?
Jim Kinney at Baird & Warner has the listing. See the pictures here.
Unit #8WNE: 12,000 square feet, 3,000 square feet of terrace, 6 garage spaces
- Sold in 2002 for $9.75 million
- Currently listed for $14 million
- Assessments of $11,365 a month (includes water and doorman)
- Taxes of $28,086
Wrigley chairman’s Gold Coast penthouse listing is city’s most expensive [Chicago Tribune, Bob Goldsborough, Nov 8, 2009]