Crib Chatter

We last chattered about this 3-bedroom single family home at 2032 W. Churchill in Bucktown in August 2009.

See our prior heated discussion here.

In August, it was priced above the 2007 purchase price but has now been reduced by $44,000 and is now listed under the prior sale.

The house is in a prime Bucktown location, with easy access to the shops and restaurants as well as the El.

Two of the bedrooms are on the second floor and one is in the basement. The kitchen has all white cabinets, appliances and countertops.

Tobi Soraghan at @Properties has the listing. See the pictures here.

(By the way- @Properties has redesigned their website so that it is registration only- and no longer links separately to agent’s properties. So therefore I’m linking to redfin for their listings.)

2032 W. Churchill: 3 bedrooms, 2.5 baths, 2 car garage

• Sold in May 1996 for $218,000
• Sold in August 1999 for $370,000
• Sold in January 2003 for $472,500
• Sold in September 2007 for $585,000
• Was listed in August 2009 at $619,900
• Reduced several times
• Currently listed for $575,000
• Taxes of $6688
• Central Air
• Bedroom #1: 13×13
• Bedroom #2: 12×11
• Bedroom #3: 13×8 (lower level)
• Family room (lower level)

A lot of the 3-bedroom units we see in Lincoln Park and Lakeview are new construction or duplex downs so it’s somewhat unusual to see a 3-bedroom vintage unit all on one level like this one at 2043 N. Mohawk.

It not only has 3 bedrooms but also a family room and a dining room.

The unit has high ceilings and built-ins along with original exposed wood moldings. The listing says the kitchen has been renovated and it has stainless steel appliances.

It also has a back deck.

There is a washer/dryer in the unit and 1 parking space is included. The only thing it seems to be missing is central air- as it has window units.

The unit has been reduced by $19,100 since September.

It’s also priced $33,000 under the 2007 purchase price.

Harry Pfaff at Prudential Rubloff has the listing. See the pictures and a virtual tour here.

See the property website here.

Unit #2N: 3 bedrooms, 2 baths, 1 parking space, no square footage listed

• Sold in June 2000 for $399,000
• Sold in February 2007 for $612,000
• Originally listed in September 2009 for $599,000
• Reduced
• Currently listed at $579,900
• Assessments of $415 a month (includes heat)
• Taxes of $6508
• No central air – window units
• Washer/Dryer in the unit
• Bedroom #1: 10×14
• Bedroom #2: 10×12
• Bedroom #3: 9×13
• Family room: 13×15
• Dining room: 10×13
• Living room: 13×19
• Kitchen: 13×14

We last chattered about this huge 4-bedroom top floor vintage unit at 411 W. Briar in East Lakeview in August 2009.

See our prior chatter and pictures here.

It is still on the market and has been reduced by $40,100.

It is now also $40,100 under the 2006 purchase price.

The building was built in 1920. The unit has good vintage bones, including hardwood floors throughout, a dining room and a sunroom.

It has central air and an in-unit washer/dryer but parking is leased.

The notes for this weekend’s open house says it is wonderful space that needs some TLC.

Claire Sylvestre at Prudential Rubloff still has the listing. See more pictures, the virtual tour and the floor plan here.

Or see it in person at this weekend’s open house on Sunday, Nov 22, from 1:00 to 3:00.

Unit #3D: 4 bedrooms, 2 baths, 2600 square feet

• Sold in March 1995 for $267,500
• Sold in August 1997 for $265,000
• Sold in March 2006 for $535,000
• Was listed in August 2009 for $535,000
• Reduced
• Currently listed for $494,900
• Assessments of $901 a month (includes heat, tv/cable, security system)
• Taxes of $5822
• Central Air
• Washer/dryer in the unit
• No parking (leased)
• Bedroom #1: 17×13
• Bedroom #2: 14×14
• Bedroom #3: 14×13
• Bedroom #4: 10×9

This 3-bedroom duplex down unit at 1542 N. Hudson in Old Town doesn’t have just one parking space it has two.

The unit has hardwood throughout and the kitchen has stainless steel appliances and granite counter tops.

It’s also a rare 3 bedroom 3 bath unit (as usually they are 3/2.)

From the listing, it appears that the living room and kitchen are both on the lower level (along with one of the bedrooms) and the other two bedrooms are on the main level.

Is this a steal for this price?

Victoria Perryman at Coldwell Banker has the listing. See the pictures here (there are 16 of them- be sure to click all the way through).

Unit #1: 3 bedrooms, 3 baths, no square footage listed, 2 car parking

• Sold in April 2006 for $550,000
• Originally listed in June 2009
• Listed in August 2009 for $375,000
• Reduced
• Currently listed for $360,000
• It doesn’t list the assessment amount but there are 2 units in the building
• Taxes of $8230
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×15 (main level)
• Bedroom #2: 15×15 (main level)
• Bedroom #3: 12×15 (lower level)
• Living room: 18×20 (lower level)
• Kitchen: 7×15 (lower level)

We’ve chattered about the distress sales at the Millennium Centre at 33 W. Ontario in River North numerous times before.

This recently listed bank owned 50th floor 2-bedroom unit has unobstructed views, hardwood floors, cherry cabinets and granite countertops in the kitchen.

From the pictures, it appears that the stainless steel appliances and the washer/dryer are still in the unit.

And this price includes the parking.

Given the recent auction at 1400 S. Michigan in the South Loop, could a foreclosure in River North actually be a better deal? This one is listed at $275 a square foot.

Vincent Scott at Sudler Sotheby’s has the listing. See the pictures and a floorplan here.

Unit #50D: 2 bedrooms, 2 baths, 1325 square feet

• Sold in October 2004 for $697,500 (parking included)
• Lis pendens foreclosure in July 2009
• Bank owned
• Currently listed for $364,900 (parking included)
• Assessments of $866 a month (includes heat, a/c, doorman)
• Taxes of $7086
• Washer/Dryer in the unit
• Central Air
• Bedroom #1: 16×11
• Bedroom #2: 14×11
• Living room: 24×16
• Kitchen: 11×9

We’ve been chattering quite a bit about the South Loop recently. This 2-bedroom corner unit at 1515 S. Prairie has been on the market since September 2009.

It is the lowest priced 2/2 in the building.

It has city views, hardwood floors, and stainless steel appliances and granite countertops in the kitchen.

The unit has been upgraded with granite in the master bathroom which also has a separate shower and jacuzzi tub.

Would this make a good in-town residence?

Ricardo Jimenez at Prudential Rubloff has the listing. See more pictures and the virtual tour here.

See the property website here.

Unit #802: 2 bedrooms, 2 baths, no square footage listed

• Sold in December 2003 for $335,000 (included the parking)
• Originally listed in September 2009 for $375,000 (parking $30,000 extra)
• Reduced
• Currently listed for $345,000 (parking $30,000 extra and must be sold with the unit)
• Assessments of $471 a month (includes cable, a/c, heat, doorman)
• Taxes of $3607
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 14×11
• Bedroom #2: 11×12
• Living room: 12×18
• Kitchen: 11×12

Crain’s reported yesterday that two short sales have appeared in Trump Tower at 401 N. Wabash in River North in the hotel/condo section of the building.

The investors who bought the two units from the developer last year are trying to sell them at steep discounts through so-called short sales, or for less than the debt owed on the units. One hotel room is on the market for less than half of what it sold for in March 2008.

The cases also raise questions about how low condo-hotel prices in the riverside project can go. And one broker with listings in the building expects more foreclosure suits in the future.

“No question about it,” says Andrew Glatz, president of Chicago-based brokerage Crown Heights Realty. “There will be a flood of them.”

Mr. Glatz is trying to sell a condo-hotel unit on the 20th floor for $379,000, less than the $493,589 loan balance on the unit. The owner bought the room from a Trump affiliate for $664,000 in February 2008. Wells Fargo Bank N.A. last month filed to foreclose on the unit.

Wells Fargo has also sued to foreclose on a unit on the 24th floor with an original mortgage of $712,000. The unit is on the market for $389,900, 56% less than the $895,000 Trump sold it for in March 2008. Wells Fargo would have to approve both sales if the investors can’t repay the loans in full but want to be released from the mortgages.

Mr. Trump says the two suits and potential short sales say nothing about the project at 401 N. Wabash Ave., which includes 486 residential condos and 339 hotel units. The development is “doing very nicely,” he says, and foreclosure suits in new condo developments are “common all over the place,” not just in his building.

In the condo portion of the building, which is on the higher floors, the Chicago Tribune has been reporting on former Bears quarterback Rex Grossman’s attempts to sell his 2-bedroom unit that he bought only last year.

The 3,437 square foot unit is now listed for $595,000 under the October 2008 list price.

It is also now listed $385,000 under the 2008 purchase price.

Susan Miner at Premier Relocation has the listing. See the pictures here.

Unit #36A: 2 bedrooms, 4 baths, den, 3437 square feet

• Sold in 2008 for $2.68 million (according to the Tribune)
• Originally listed in October 2008 for $2.89 million
• Reduced numerous times
• Currently listed for $2.295 million (two parking spaces available for extra)
• Assessment of $1745 a month
• Taxes are “new”
• Snaidero cabinets

Grossman drops asking price [Chicago Tribune, Bob Goldsborough, Nov 8, 2009]- Scroll down to the bottom of the article

2 Trump hotel unit owners face foreclosure [Crain’s Chicago Business, Alby Gallun, Nov 18, 2009]

This 1-bedroom loft at The Clinton Street Lofts at 226 N. Clinton on the Near West Side (or is that the Fulton Market neighborhood?) has been reduced by nearly $40,000 since July 2009.

It has 15 foot timber ceilings, exposed brick, and diagonal hardwood floors.

It also has central air, a washer/dryer in the unit and parking is included.

Is the rent v. own ratio getting more realistic?

William Gonzalez at Picket Fence Realty Mt. Prospect has the listing. See the pictures here.

Unit #114: 1 bedroom, 1 bath, no square footage listed

• Sold in August 1998 for $122,500
• Sold in March 2003 for $198,000
• Originally listed in July 2009 for $259,000 (included the parking)
• Reduced
• Currently listed for $219,900 (parking included)
• Assessments are $277 a month (includes cable, doorman)
• Taxes are $2534
• Central Air
• Washer/Dryer in the unit
• Bedroom: 14×10
• Living/Dining/Kitchen: 22×16

Many buyers are looking for a multi-family house such as this one at 2552 W. Iowa in West Town where they can live in one unit and rent out the other.

The 2-unit house has 4 bedrooms and 2 baths, with each unit having 2 bedrooms and 1 bath each.

It still retains some of its vintage features, including the woodwork. There is also a full, unfinished basement with laundry which is accessible from an internal staircase.

Each unit has separate heat. There is no central air (only window units.)

Gary Lucido at Lucid Realty has the listing. See more pictures and a virtual tour here.

2552 W. Iowa: 4 bedrooms, 2 baths, 2 car garage, 2-units

• Sold in September 1992 for $56,000
• Sold in February 1993 for $97,000
• Sold in February 2002 for $274,000
• Currently listed for $349,850
• Taxes of $3002
• No central air
• Washer/Dryer in the basement
• Unit #1: Rented for $1100
• Unit #2: Owner occupied
• Electric: $900
• Insurance: $1800
• Water: $500

Last May, we chattered about what was then (and still is) one of the cheapest single family homes for sale in Lakeview at 3442 N. Paulina.

Check out our prior chatter here.

Back in May, this 2-story home built in 1888 was listed at $399,500 and had gone under contract in 3 days.

The old listing said it had a new kitchen, including bamboo floors, and baths. The house also had central air. It was missing parking, however, but there was a mysterious “parking easement” possibility.

It has been on, and off, the market in the 7 months since.

The house is now back “on” the market and has been reduced by $14,500 since last May.

It still has its location near Starbucks and Whole Foods. And it still has the backyard. There is now no mention of parking.

The current listing says it has new HVAC, plumbing, electric and hardwood floors.

This listing also has a larger, and better, set of pictures.

Elizabeth Bleeker at Prudential Rubloff has the listing. See the pictures here.

See the property website here.

3442 N. Paulina: 3 bedrooms, 1.5 baths, no square footage listed (but in May it said 1600 square feet)

• Sold in September 1988 for $106,000
• Sold in June 1991 for $136,000
• Was listed in May 2009 for $399,500
• Under contract in 3 days
• Re-listed several times
• Reduced
• Currently listed at $385,000
• Taxes of $5593
• Central Air
• No Parking
• Bedroom #1: 20×13 (second level)
• Bedrooms #2: 12×10 (second level)
• Bedroom #3: 10×10 (second level)
• Living room: 14×13
• Dining room: 13×11
• Kitchen: 10×14