Crib Chatter

We’ve chattered many times about the distressed sales in The Sterling, at 345 N. La Salle in River North.

Recently, a unique penthouse unit in the building came on the market as a short sale.

According to the listing, Unit #4705, a massive 2-bedroom unit, has never been lived in even though the building was converted in 2002.

At 3450 square feet, it is completely custom from the kitchen to the bathrooms. It also has an 892 square foot terrace with gas and water hook-ups.

The floors are inlaid limestone. There’s a wine cooler and the entire unit is wired.

Be sure to check out the pictures of the master bathroom. Now that’s a shower.

The listing says they will “consider all offers.” And that at the current price, it’s a “steal.”

Is it?

Kelly Rizzo-Parker at Koenig & Strey has the listing. See the pictures here.

Unit #4705: 2 bedrooms, 2.5 baths, 3450 square feet

• Sold in March 2003 for $582,000
• Originally listed at over $2 million in 2008
• Cancelled
• Lis pendens foreclosure filed in February 2009
• Re-listed in September 2009 as a short sale for $999,000 
• Reduced
• Currently listed as a short sale for $899,000
• Assessments of $1353 a month
• Taxes of $12908
• No deeded parking- available for rent in the building
• Washer/Dryer in the unit? The listing doesn’t list it- but the rest of the units in the building have it so I’m assuming it’s an oversight.
• Central Air
• Bedroom #1: 14×21
• Bedroom #2: 15×9
• Living room: 22×25
• Dining room: 15×27
• Kitchen: 15×14

We last chattered about this contemporary 2-bedroom unit at 1750 N. Clybourn in Lincoln Park in March 2009.

See our prior chatter here.

Nine months later, it is still available and has been reduced $50,000.

The 7-unit building was built in 2006 by Ranquist Development which specializes in modern and contemporary architecture.

The unit has more bells and whistles than normal including custom shades, red oak floors, and Sub-zero and Meile appliances along with Arclinea cabinetry in the kitchen. The master bathroom is marble and limestone with Hansgrohe and a Zuma tub.

Emily Sachs Wong at Koenig & Strey still has the listing. See the pictures here.

Unit #202: 2 bedrooms, 2 baths, no square footage listed

• Sold in November 2006 for $436,000 (looks like that included the parking)
• Was listed in March 2009 for $525,000 (included the parking)
• Reduced in March 2009 to $475,000
• Currently still listed at $475,000 (includes the parking)
• Assessmenst of $186 a month
• Taxes of $5947
• Bedroom #1: 15×12
• Bedroom #2: 12×10
• Living room: 24×18
• Kitchen: 13×10

When this 4-bedroom home at 1535 W. Jackson in the West Loop was built in 1893, it made sense that it would include 5 fireplaces in order to keep the occupants warm in the cold Chicago winters.

Now, the house also has a professional grade kitchen with radiant heated floors. It also has central air.

Two of the 4 bedrooms (and a den) are on the second floor while the other two bedrooms are in the lower level.

The property has a 188 foot lot but it appears that the parking is simply two spaces as the listing says “room to build 2 car garage.”

The 1500 block of West Jackson was designated a Chicago landmark district in 1976. The remaining structures on the street were built from 1879 to 1893. It is one of the more unique streets in the west loop.

Mario Greco at Prudential Rubloff has the listing. See more pictures and a virtual tour here.

See the property website here.

1535 W. Jackson: 4 bedrooms, 3.5 baths, 4000 square feet

• Sold in September 2003 for $675,000
• Sold in December 2004 for $829,000
• Originally listed in April 2009 for $1.2 million
• Reduced numerous times
• Currently listed at $975,000
• Taxes of $5413
• Central Air
• Bedroom #1: 19×13
• Bedroom #2: 16×13
• Bedroom #3: 12×12 (lower level)
• Bedroom #4: 12×11 (lower level)

Someone recently asked if it was possible to get a 2/2 somewhere downtown (Loop, River North, Streeterville, South Loop etc.) for under $200,000.

I found this 2-bedroom, 1.5 bath unit at The Metropolis at 8 W. Monroe in the Loop listed for $195,000.

It has been on the market over a year and has now been reduced by $104,900.

It’s also now listed for $179,000 under the 2006 purchase price.

We’ve chattered about distress sales in The Metropolis before.

The unit has 12 foot ceilings, hardwood floors, a newer kitchen with granite counter tops and black appliances. It also has central air and an in-unit washer/dryer. There is parking in the building.

Is this a deal for its location and size?

John Mousser at Chicago Real Estate Resources has the listing. See the pictures here.

Unit #1600: 2 bedrooms, 1.5 baths, 950 square feet

• Sold in August 2006 for $374,000
• Originally listed in October 2008 for $299,000
• Lis pendens foreclosure filed in July 2009
• Reduced several times
• Currently listed for $195,000 (parking is $30,000 extra)
• Assessments of $465 a month (includes heat, A/C, Gas, Doorman)
• Parking assessment of $135 a month (if you purchase the parking)
• Taxes are “new”
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 16×11
• Bedroom #2: 10×10
• Living room: 15×10
• Kitchen: 11×8

This 2-bedroom recent conversion condo unit at 5230 N. Campbell in Budlong Woods (just north of Lincoln Square) has been on the market since July as a short sale with no takers.

It was recently reduced another $11,000.

It seems to have it all with granite countertops and stainless steel appliances in the kitchen, natural stone baths, and hardwood floors throughout.

It has a balcony, which is rare for a vintage building, central air, a washer/dryer in the unit and a deeded parking space.

What more could you ask for?

Maribel Selva at Coldwell Banker has the listing. See the pictures here.

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

• Sold in June 2007 for $254,000 (parking included)
• Originally listed in July 2009 for $230,000
• Reduced
• Currently listed as a “short sale” at $219,000 (parking included)
• Assessments of $125 a month
• Taxes of $2,082
• Bedroom #1: 12×11
• Bedroom #2: 15×11
• Dining room: 11×7
• Kitchen: 11×10
• Living room: 19×11

This 4-bedroom new construction single family home at 1943 N. Albany in Logan Square (or is that Humboldt Park???) is being marketed as having “green” features.

The listing says it has high end features such as granite, stone and recycled glass. It also has a finished basement with a full bath and parking.

Is this an affordable starter home for those who want “new” and also “green”?

Ron Knoll at Saffron Realty Group has the listing. See more pictures here.

1943 N. Albany: 4 bedrooms, 4 baths, den, no square footage listed

• Sold in July 2006 for $283,000
• Sold in November 2007 in a judicial sale for $139,000
• Sold in August 2008 for $175,000
• Originally listed in April 2009 for $688,000
• Reduced several times
• Currently listed for $550,000
• Taxes are “new”
• Central Air
• Looks like there are 2 parking spaces with the house (not sure if it’s a garage or not.)

We last chattered about this 2-bedroom triplex at the Carl Street Studios complex at 155 W. Burton in Old Town in September 2007.

It never sold and was withdrawn from the market.

See our prior chatter here.

26 months later, the unit has now returned to the market and is listed for $100,000 less than in 2007.

Built in 1922 and with only 16 units, the Carl Street Studios has very unique units. This triplex has the original tile work, leaded glass and a new private rooftop deck.

It also has the modern amenities of central air and a washer/dryer in the unit. It doesn’t have deeded parking, however.

Mary MacDiarmid at Prudential Rubloff now has the listing. See the pictures and a virtual tour here.

Unit #15: 2 bedrooms, 2 baths, 1600 square feet

• Sold in September 1999 for $360,000
• Sold in November 2005 for $635,000
• Originally listed in September 2007 for $699,000
• Cancelled
• Currently listed for $599,000
• Assessments of $878 a month
• Taxes of $7965
• Central Air
• Washer/Dryer in the unit
• No deeded parking- leased in the neighborhood
• 3 fireplaces
• Bedroom #1: 15×14
• Bedroom #2: 12×12

We’ve chattered about this 3-bedroom condo at 1013 W. Webster in Lincoln Park several times since spring of 2008.

The last time we chattered about this property was in February 2009 when it evolved into a discussion about the “health” of the Lincoln Park market.

See our prior chatter here.

The prior price reductions apparently didn’t work. The unit is still available and has now been reduced by $236,000 from the original March 2008 list price.

It is a triplex with the master suite on the top floor. The kitchen has stainless steel appliances and granite countertops.

It also has a rare and much in demand 2-parking spaces.

The listing now says the owner has transferred and has priced the home to sell. There is a Relo Rider on all contracts.

Is this latest price the new magic number that will get this property sold?

Linda Broznowski at @Properties now has the listing. See the latest pictures here. 

Unit #7: 3 bedrooms, 2 baths, 2 car private garage with storage, no square footage listed

• Sold in July 2006 for $686,500
• Originally listed in March 2008 for $685,000
• Reduced
• Listed in April 2008 for $659,000
• Reduced
• Was listed in June 2008 for $649,000 (included the two car garage)
• Reduced
• Was listed in October 2008 for $598,888
• Reduced
• Was listed in February 2009 for $525,000 (two car garage still included)
• Reduced
• Currently listed for $449,000 (two car garage still included)
• Assessments were $271 a month in February 2009 (new listing doesn’t list any assessments)
• Taxes of $8975 in February 2009 (new listing says they’re “new”)
• Central Air
• Washer/Dryer in the unit
• Master suite: 30×15
• Bedroom #2: 15×10
• Bedroom #3: 13×13

We spent a lot of time chattering about this brick and timber authentic duplex loft at 1000 W. Washington in the West Loop last July.

See our prior chatter and pictures here.

While we were chattering, the loft was selling.

It closed in late August 2009 for $6500 under the May 2005 purchase price.

Matt Garrison at Coldwell Banker had the listing.

Unit #144: 1 bedroom, 1.5 baths, 1400 square feet

• Sold in July 1996 for $195,000
• Sold in April 2000 for $240,000
• Sold in May 2005 for $291,500
• Originally listed in January 2009 for $309,900
• Reduced several times
• Was listed in July 2009 at $294,900 (plus $25k for parking)
• Sold in August 2009 for $285,000 (included the parking)
• Assessments of $503 a month (includes water, cable, parking)
• Taxes of $3510
• Listing said seller would “pay half of first years assessments”
• Central Air
• Washer/Dryer in the unit

This 4-bedroom single family home at 2501 N. Fairfield in Logan Square has been on and off the market over the last 17 months.

It appears that there was a significant renovation done in 2000-2001 as the listing describes it as “newer construction”.

The home now totals 3600 square feet. The kitchen has 42 inch maple cabinets, stainless steel appliances and granite countertops.

The master bedroom has vaulted ceilings and the basement is fully finished.

The house has also been reduced $20,000 since April 2009.

Is there a premium for properties in certain areas of Logan Square?

Mark Paonessa at @Properties has the listing. See the pictures and a virtual tour here.

2501 N. Fairfield: 4 bedrooms, 3.5 baths, 2 car garage, 3600 square feet

• Sold in May 2000 for $130,000
• Sold in January 2001 for $480,000
• Originally listed in April 2008
• Cancelled in July 2008
• Re-listed in April 2009 for $749,000
• Reduced
• Currently listed for $729,000
• Taxes of $7176
• Central Air