Crib Chatter

This 3 bedroom brick loft at 1623 W. Ohio in West Town was renovated into a home in 2005 but not after it spent 129 years as a commercial space. Apparently it was once a street car repair shop.

The home is almost 5,000 square feet and has 14 foot ceilings.

The kitchen is decked out with 8 double stack burners and double Subzeros. It has Anne Sacks tile. According to the listing the loft has a “brain” with 3 touch panels.

Mike Morrison at Exit Realty has the listing. See the pictures here.

1623 W. Ohio #1: 3 bedrooms, 4 baths, 2 car garage, 4971 square feet

• Sold in March 2005 for $1.3 million (per the Tribune records)
• Currently listed for $1.599 million
• Taxes of $24,910
• Central Air
• Washer/Dryer
• I can’t tell if this is a single family home or actually a condo unit. There doesn’t appear to be any assessment. I also can’t find any record of a second unit.

We’ve chattered about this renovated contemporary unit at 550 W. Wellington in Lakeview several times.

See our prior June 2009 chatter and pictures here.

It has been reduced by $295,000 in the last year and is now under contract.

The 2-bedroom unit has 10 foot ceilings, 3 exposures and a rooftop deck. It has luxury finishes by Bulthaup, Sub-Zero, Poliform, Dornbracht, and Lutron.

The unit also has an extra large walk-in closet.

Robert John Anderson at Baird & Warner has the listing. See more pictures here.

Unit #9W: 3 bedrooms, 2 baths, 2000 square feet

• Sold in June 2005 for $995,000
• Originally listed in November 2008 for $1.295 million
• Reduced
• Was listed in June 2009 at $1.095 million
• Reduced
• Currently listed for $1 million
• Under Contract
• Assessments of $537 a month
• Taxes of $14,078
• 1 heated garage parking space included
• Central Air
• Washer/Dryer in the unit

This 2-bedroom short sale at 716 W. Webster across from Oz Park in Lincoln Park has been on the market since August 2009.

It is currently listed as a “short sale” and is priced about 14% below the 2006 purchase price.

The unit has 11 foot ceilings, oak floors and a wood burning fireplace.

The kitchen has oak cabinets, white corian counter tops and white appliances.

There is no central air, no washer/dryer in the unit and no parking. But there is a 21×10 private patio.

The listing calls for all “bargain hounds” and says to “come make a deal.”

Is this a “deal” at this price?

Ken Snedegar at Prairie Shore Properties has the listing. See the pictures here.

Unit #1W: 2 bedrooms, 1 bath, 1300 square feet

• Sold in April 1989 for $164,000
• Sold in June 1992 for $172,000
• Sold in March 1996 for $159,000
• Sold in April 1998 for $178,500
• Sold in May 2006 for $367,000
• Originally listed in August 2009 for $359,000
• “Short sale”
• Reduced several times
• Currently listed for $314,500
• Assessments of $267 a month
• Taxes of $4394
• No central air
• No washer/dryer in the unit
• No deeded parking
• 1 wood burning fireplace
• Bedroom #1: 15×10
• Bedroom #2: 11×8
• Living room: 23×14
• Kitchen: 12×10

This 2-bedroom vintage unit at 4018 N. Spaulding in Old Irving Park was converted in 2005.

The building dates back to 1925. The unit appears to have some built-ins, such as the fireplace and bookcases in the living room. The kitchen, however, has been updated with stainless steel appliances and granite counter tops.

It also has central air and an in-unit washer/dryer but no parking.

The unit is priced $19,001 under the 2005 purchase price.

Is this a nice starter home for someone looking in the Irving Park neighborhood?

Margaret Gustin at Prudential Rubloff has the listing. See the pictures and a virtual tour here.

See the property website here.

Unit #3: 2 bedrooms, 1 bath, no square footage listed

• Sold in April 2005 for $209,000
• Listed in June 2009 for $209,000
• Reduced
• Currently listed at $189,999
• Assessments of $188 a month
• Taxes of $2300
• Central Air
• Washer/Dryer in the unit
• No parking
• Bedroom #1: 13×11
• Bedroom #2: 10×10
• Kitchen: 10×10
• Living room: 18×12

Only a month ago, we chattered about this 2-bedroom home at 2700 N. Wilton in Lincoln Park that is located near the El tracks.

The house has just been reduced another $30,000.

It is now priced just $9,000 over its February 2008 purchase price.

It has maple hardwood floors throughout. The kitchen has stainless steel appliances and the bathrooms have been renovated.

It also has a 2-car heated garage.

At this price, is it now becoming more attractive as a townhouse or condo alternative?

Barry Kadish at Marc Realty has the listing. See more pictures here.

Watch the YouTube video here.

2700 N. Wilton: 2 bedrooms, 2 baths, no square footage listed, 2 car garage

• Sold in December 1992 for $7,339
• Sold in December 1994 for $12,966
• Sold in September 1996 for $170,000
• Lis pendens filed in January 2007
• Bank owned in October 2007
• Sold in February 2008 for $540,000 (the amount is from Redfin, but other public records do not list the amount only the sales date)
• Originally listed in August 2009 for $649,000
• Reduced
• Was listed in October 2009 for $579,000
• Reduced
• Currently listed for $549,000
• Taxes of $8627
• Central Air
• Bedroom #1: 20×34
• Bedroom #2: 9×13
• Living room: 17×21

We chattered about this 4-bedroom house at 1322 N. Oakley with a rooftop deck in Wicker Park just a month ago.

See our prior chatter and pictures here.

It had multiple offers and went under contract within 6 days. It closed for $60,000 over the 2005 purchase price.

The home, built in 1893, has central air and a two car garage. Three of the bedrooms are on the second level.

Is it a sign that life is returning to the housing market?

Mario Greco at Prudential Rubloff had the listing.

1322 N. Oakley: 4 bedrooms, 3.5 baths, 2 car garage, no square footage listed

• Sold in May 1994 for $105,000
• Sold in March 1996 for $234,500
• Sold in May 2000 for $100,000 (?)
• Sold in October 2001 for $460,000
• Sold in July 2005 for $650,000
• Originally listed in September 2009 for $699,000
• Increased
• Was listed in October 2009 for $719,000
• Under contract in 6 days
• Sold in October 2009 for $710,000
• Taxes of $7057
• Central Air
• Bedroom #1: 19×12
• Bedroom #2: 16×10
• Bedroom #3: 11×10
• Bedroom #4: 15×11 (lower level)

The developer at The Vetro, at 611 S. Wells, in the South Loop has cut prices (again) in a “developer close out” to try and sell 6 of the remaining available units. It appears the cuts are only on the bigger and pricer units.

The ad for the price cuts list five 2 bedrooms + den/2.5 bath corner units and one 3 bedroom/3 bath corner penthouse.

For the penthouse, the price has been reduced another $41,000.

Unit #3004: 3 bedrooms, 3 baths, 2000 square feet

• Was listed in April 2009 (right after the auction) for $580,000 (parking included)- assessments of $764 a month
• Reduced
• Currently listed for $539,000 (parking included)

Of the 5 corner 2 bedrooms + den units, it looks like the reductions are in the 03 and 07 tiers.

03-tier: 2 bedrooms, plus den, 2.5 baths, 1667 square feet, Northwest and east exposures

• Priced in April 2009 (right after the auction) from $400,000 for the 10th floor to $435,000 on the 20th floor (were listed in the low $500,000-range with parking extra in 2008)
• Parking included
• Assessments run from $582 to $641 a month
• Reduced
• Currently priced from $399,900 on the 10th floor to $382,000 on the 13th floor

07-tier: 2 bedrooms, den, 2.5 baths, 1525 square feet, Southeast and West exposure 

• Priced in April 2009 (right after the auction) from $371,000 on the 9th floor to $413,000 on the 27th floor (were listed in the mid-$400,000s with parking extra in 2008)
• Parking included
• Assessments run from $454 to $513 a month
• Reduced
• Currently priced from $362,000 on the 13th floor to $415,000 on the 28th floor

Are these reductions even much of a reduction?

Baird and Warner is still handling sales.

You can see pictures of one of the other penthouse units, Unit #3102, to give you an idea as to what the penthouses are like, and which is under contract, here.

We last chattered about this triplex brick loft at 2332 S. Michigan in Motor Row in January 2009.

See our prior chatter and pictures here.

The loft has walnut floors, beamed ceilings and a private rooftop deck. There are also outdoor spaces on the other two levels.

The modern kitchen has Bosch appliances.

It has been reduced $20,000 since January 2009. It has also been on and off the market since 2007.

[The listing says the “photos are from a combination of units available. “]

With an upcoming auction of other loft units in a new building across the street, what will that do to prices in this building that has yet to sell out?

Read more about the November 15 auction at the Motor Row Lofts at 2303 S. Michigan [Sheldon Good & Company website].

Vivienne Frow at Prudential Rubloff still has the listing at 2332 S. Michigan. See more pictures and a virtual tour here.

See the property website here.

Unit #409: 2 bedrooms, 2.5 baths, recreation room, about 1730 square feet

• Originally listed for sale in 2007
• Was listed in January 2009 for $569,000 plus $30,000 for parking
• Reduced
• Currently listed for $549,000 plus $30,000 for parking
• Assessments are $241 a month
• Taxes are “new”
• Triplex
• Fireplace
• Central Air

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