Crib Chatter

This 4-bedroom in The Powhatan at 4950 S. Chicago Beach in Hyde Park came on the market in October 2021.

Built in 1927-29 at a cost of $2.5 million for the land and the building, The Powhatan was built as a luxury co-op and remains a co-op.

According to Chicago Apartments: A Century of Luxury, The Powhatan was the most luxurious of the Hyde Park/Kenwood vintage buildings. Both the inside and outside of the building have art deco finishes including the two elevator banks that are still served by elevator attendants.

The building has a legendary top floor ballroom with both north and south terraces.

It also has an indoor pool with mosaic panels.

There are just 40 apartments, full time door staff and valet parking. The assessments include the taxes.

This unit is 4,000 square feet and has north views of downtown and Navy Pier as well as lake views.

It has been fully renovated and appears to have only a few of its vintage features. One of the bathrooms, the one with the pink and green tiles, appears to be original as bright tiled bathrooms were an original feature of The Powhatan.

It has a wood burning fireplace.

The unit has wide plank white oak floors and reclaimed antique marble floors in the kitchen and laundry room.

It has refurbished windows and updated electrical and plumbing.

There are Lutron shades throughout, some are programmable.

3 of the 4 bedrooms have a full en suite bath. There’s also a powder room.

The primary suite has a walk-in closet, built-in bookshelves and an ensuite with walk-in shower and a Kohler cast iron tub with a custom teak surround.

The eat-in kitchen has white cabinets with Warham Quartzite kitchen countertops with a peninsula that seats 3 as well as space for a dining table. It also has Subzero, Bosch, LG and Miele appliances, which I think includes the side-by-side laundry.

It features Ann Sacks tile throughout.

The unit includes the features buyers look for including the w/d, space pak cooling and 1-car valet parking.

Originally listed at $995,000, this unit has been reduced $245,000 to $750,000.

At 4,000 square feet, it’s as big as many single family homes.

Is this co-op a deal?

Michael Fine at Fine & Company has the listing. See the pictures and 3D tour here.

Unit #12A: 4 bedrooms, 4 baths (but really 4.5?), 4000 square feet, co-op

• Sold in August 2016 for $200,000 (per Redfin, but the pictures seem like it’s the same unit)
• Originally listed in October 2021 for $995,000
• Reduced several times
• Currently listed at $750,000
• Assessments of $6658 a month (includes taxes, valet parking, uniformed elevator attendants, professional engineer and maintenance staff, heat, exercise room, indoor pool, ballroom, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are in assessments
• 2 zone space pac cooling
• Wood burning fireplace
• Washer/dryer in the unit
• Valet parking included
• Bedroom #1: 15×17
• Bedroom #2: 14×15
• Bedroom #3: 17×20
• Bedroom #4: 19×12
• Living room: 28×20
• Dining room: 21×12
• Kitchen: 18×16
• Gallery: 31×12
• Laundry: 7×17
• Family Room: 17×19

This 6-bedroom vintage single family home at 416 W. Webster in East Lincoln Park came on the market in October 2021.

Built in 1890 on a 25×127 lot, it has a 3-car garage.

The house has been “extensively renovated” and no longer has any of its original vintage features although it does have high ceilings typical of a home from this period and three fireplaces, including a gas fireplace in the family room.

At 6495 square feet, the listing indicates that there is “ample opportunity for everyone to have their own work-from-home space.”

The house has a third floor library and a second floor office.

Three bedrooms are on the second floor, including the primary suite which has a “brand new” white bath with separate tub/shower, heated floors and dual sinks, as well as a walk-in-closet and a wall of closets.

There’s also a second full bathroom on this floor.

The third floor has two more additional bedrooms with one en suite and a second new hall bath.

The sixth bedroom is in the lower level which the listing says could be an in-law or nanny suite as it has a separate entrance. It could also be closed off and rented with the listing saying it could command $1800 a month.

The lower level has a carpeted recreation room, a second kitchen and an exercise room.

The living and dining rooms are on the main floor along with the kitchen which the listing says was “newly updated.”

The kitchen has white cabinets with high-end stainless steel appliances including a Subzero fridge, Thermador oven, and Bosch dishwasher.

It has a built-in desk and a banquette dining space along with an island and a breakfast bar.

The kitchen is adjacent to a great room which opens onto a “brand new” deck over the 3-car garage which includes an outdoor fireplace and pergola.

The house has central air and a large skylight over the main staircase.

This property is near Lincoln Park Zoo and Conservatory and the shops and restaurants of East Lincoln Park and Old Town.

Listed in October 2021 for $2.75 million, it has been reduced $100,000 to $2.65 million.

Does this house have it all for a family looking to live in Lincoln Park?

Emily Sachs Wong at @Properties Christie’s Intl has the listing. See the pictures and video here. It has a floor plan link, but no floor plan is actually listed.

416 W. Webster: 6 bedrooms, 5.5 baths, 6495 square feet, single family home

• Sold in May 1998 for $915,000
• Sold in June 2000 for $1.115 million
• Sold in August 2022 for $1.87 million
• Sold in April 2012 for $1.68 million
• Originally listed in October 2021 for $2.75 million
• Reduced
• Currently listed at $2.65 million
• Taxes of $79,807
• Central Air
• 3 fireplaces
• 25×127 lot
• 3-car garage
• Bedroom #1: 15×18 (second floor)
• Bedroom #2: 12×16 (second floor)
• Bedroom #3: 8×11 (second floor)
• Bedroom #4: 11×11 (third floor)
• Bedroom #5: 10×10 (lower level)
• Bedroom #6: 8×14 (third floor)
• Library: 19×14 (third floor)
• Office: 13×8 (second floor)
• Living room: 18×20 (main floor)
• Dining room: 16×11 (main floor)
• Kitchen: 14×17 (main floor)
• Family room: 15×13 (main floor)
• Exercise room: 10×16 (lower level)
• Recreation room: 16×20 (lower level)
• Work room: 9×13 (lower level)
• New deck over the garage

This 3-bedroom single family home at 1566 N. Hoyne in Wicker Park came on the market in April 2022.

If it looks familiar, that’s because we last chattered about it in 2011, when it was priced under the 2007 purchase price and we discussed whether or not it was a deal.

Many of you disliked having the apartment building next door and thought it was still overpriced.

It didn’t end up selling until 2013.

See our chatter here.

If you recall, this house was built in 1891 but older listings indicate it had a renovation in 2005. None of its interior vintage features survived.

It’s on a longer than standard Chicago lot measuring 24 x 150 and has a 2-car garage.

You enter the home on the second floor in the “light filled great room” which has vaulted ceilings, skylights and the living and dining rooms as well as the kitchen.

The kitchen has white cabinets with “professional grade appliances”, subway tile backsplash, black stone counter tops and an island with seating for two.

This floor also has a powder room and steps lead to the primary suite which has a walk-in-closet and bathroom with double vanity and oversized steam shower.

The other 2 bedrooms are in the lower level, which is really the main level, along with a full bath, the laundry and utilities and a family room which opens, through glass doors, onto a brick patio and the backyard.

The house has central air.

It’s just 1.5 blocks to the Blue Line Damen stop as well as the shops and restaurants on Damen, Milwaukee and North Avenue.

Hoyne is also a historic street, filled with many vintage homes and buildings, and is highly sought after for those who love the Wicker Park neighborhood.

Listed at $1.069 million, that’s $396,000 above the 2013 sales price of $673,000.

Is this a townhouse alternative at this price?

Edward Jelinek at @Properties Christie’s Intl has the listing. See the pictures and floor plan here.

1566 N. Hoyne: 3 bedrooms, 2.5 baths, no square footage listed, single family home

• Sold in June 1991 for $62,000
• Sold in August 1998 for $250,000
• Bank owned in September 2002
• Sold in May 2003 for $355,000
• Sold in August 2005 for $720,000
• Sold in March 2007 for $772,500
• Sold in April 2013 for $673,000
• Sold in August 2017 for $950,000
• Currently listed at $1.069 million
• Taxes are now $15,522 (they were $9338 in 2011)
• Central Air
• 2-car garage
• 24×150 lot
• Fireplace
• Bedroom #1: 17×12 (second floor)
• Bedroom #2: 15×13 (main floor- or lower level)
• Bedroom #3: 11×10(main floor)
• Family room: 20×17 (main floor)
• Kitchen: 12×9 (second floor)
• Living room: 19×14 (second floor)
• Dining room: 9×7 (second floor)

This 3-bedroom townhouse in the Embassy Club at 2609 N. Greenview came on the market in April 2022.

The picture above is of one of the other parts of the Embassy Club but it’s the closest I could come up with in my photograph collection of the private cobblestone drive that leads to the townhouses off various streets including Southport and Wrightwood.

Built in 1992, the Embassy Club has 90 townhomes of various sizes and styles.

There’s a monthly association fee.

This townhouse has a family room and full bath on the main floor.

The second floor has the living and dining rooms, kitchen and a powder room with a fireplace and built-ins in the living room.

The townhouse has the preferred layout with all 3 bedrooms on the third floor including the primary suite which is ensuite. There is also a second full bath on that floor and various built-ins.

The kitchen has custom cabinets, high end appliances and stone counter tops along with an island.

There’s a private deck off the kitchen.

The townhouse has a rare attached 2-car garage and central air.

Embassy Club is near Wrightwood Park with its park district swimming pool and restaurants/bars on Southport, Diversey and Fullerton.

It is bank owned and has come on the market at $899,600, or $50,400 under the 2005 purchase price of $950,000.

At this price, will this townhouse be under contract this week?

Arthur Cirignani at Chicago Realty Partners has the listing. See the pictures here (sorry, no floor plan).

Unit C: 3 bedrooms, 3.5 baths, townhouse, no square footage listed

• Sold in May 1992 for $354,500
• Sold in May 2005 for $950,000
• Lis pendens foreclosure filed in May 2017
• Bank owned in February 2022
• Currently listed at $899,600
• Assessments of $215 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $17,279
• Central Air
• 2-car attached garage
• Fireplace
• Bedroom #1: 18×26 (third floor)
• Bedroom #2: 10×14 (third floor)
• Bedroom #3: 9×12 (third floor)
• Dining room: 13×16 (second floor)
• Living room: 17×18 (second floor)
• Kitchen: 15×17 (second floor)
• Family room: 12×20 (main floor)
• Laundry on second floor
• Private deck off the kitchen

This 1-bedroom penthouse at 340 W. Superior in River North came on the market in March 2022.

340 W. Superior was built in 2002 and has 120 units and attached garage parking.

It has an exercise room and door staff.

If this penthouse unit looks familiar that’s because we chattered about it several times last decade before it finally sold in 2016.

See our 2015 chatter here.

If you recall, it has 10 foot ceilings with crown molding.

There are hardwood floors throughout.

The kitchen has light wood cabinets (white?) along with granite counter tops and stainless steel appliances.

This listing says the unit has a den, but in prior listings it was a dining room.

There is a double vanity in the full bathroom and the unit has a half bath.

The unit has the features buyers look for including central air, washer/dryer in the unit and parking is available for $35,000 extra.

But if you’re looking for outdoor space, the big selling point is the 31×12 west facing terrace which can be accessed from both the living room and the bedroom.

It has come on the market at $399,900, plus $35,000 for the parking, which is just $35,000 over the 2016 sales price.

Is this penthouse priced to sell?

Susan Morrow at Baird & Warner has the listing. See the pictures here (sorry no floor plan).

Unit #PH5: 1 bedroom, 1.5 baths, 1016 square feet

• Sold in October 2002 for $357,500
• Sold in March 2016 for $400,000 (included the parking)
• Currently listed at $399,900 (plus $35,000 for parking)
• Assessments are now $1275 a month (they were $861 a month in 2015)(includes heat, a/c, gas, doorman, cable, exercise room, exterior maintenance, snow removal, scavenger)
• Taxes are now $12,208 but they were $8327 in 2015
• Central Air
• Washer/Dryer in the unit
• Bedroom: 13×11

This 3-bedroom at 2440 N. Lakeview in East Lincoln Park came on the market in March 2022.

Built in 1927 by Russman & Hirshfeld, it is on Lincoln Park and has Lake Michigan views.

The building has 97 units and an attached parking garage. There are just 2 apartments per floor.

It’s a full service building with 24/7 doormen, an exercise room and a rooftop deck with grills. The listing indicates that some of the common areas have just been renovated.

2440 has numerous recent improvements including seating area in the landscaped courtyard, renovations to the roof top deck and fitness center. Building also features storage and bike storage, as well as laundry room.

This unit has “tree top” views.

It has some of the classic vintage features including hardwood floors throughout, arched ceilings, crown molding and a decorative fireplace in the living room.

The unit has an “updated kitchen” with white cabinets and a “chef’s quality” stove with marble countertops and peninsula seating area.

It has a separate dining room with built-ins.

The unit has the features buyers look for, which are somewhat rare in vintage buildings, including central air, washer/dryer in the unit and garage parking.

The listing says this building is located in the Lincoln Elementary and Lincoln High School school districts.

This building is in a prime location overlooking Lincoln Park, near the Zoo and Conservatory and the shops and restaurants on Clark.

Listed at $680,000, is this an option for those looking for a family home on the Park?

Molly Boyd and Donald Breitfelder at Berkshire Hathaway HomeServices have the listing. See the pictures here.

Or see it at the Open House on Sunday April 3, 2022 from 11 AM to 3 PM.

Unit #3F: 3 bedrooms, 3 baths, 2400 square feet, co-op

• Sold in October 2007 for $510,000 (according to Redfin but because it’s a co-op, not sure this is correct)
• Currently listed at $680,000
• Taxes of $9490
• Assessments of $1356 a month (includes heat, a/c, doorman, cable, insurance, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Central Air
• Washer/Dryer in the unit
• Garage parking included
• Decorative fireplace
• Bedroom #1: 20×13
• Bedroom #2: 20×13
• Bedroom #3: 8×8
• Living room: 24×15
• Dining room: 19×14
• Kitchen: 15×9
• Foyer: 17×6

This corner 3-bedroom at 2910 N. Pine Grove in Lakeview came on the market in March 2022.

But if it looks familiar, that’s because we have actually chattered about it twice before.

In 2011, it took 2 1/2 years and several price reductions to finally sell at $390,000.

In 2018, many of you still loved the vintage bones of this unit but complained about the dark wood floors in most of the apartment with the exception of the kitchen, which apparently had the original maple floors.

See our chatter here.

Built in 1917 by architect Roy France, 2910 N. Pine Grove has 26 units. There’s no parking but there’s separate storage and this unit has a 9×7 storage unit.

This unit has some of its vintage features including 9″ ceilings with crown moldings in the living and dining rooms.

There’s a decorative fireplace in the living room and a den with two walls of windows which the listing says could be used as an office.

There are three bedrooms.

The kitchen is a “Chef’s kitchen” with new white cabinet fronts and hardware and Viking and Bosch appliances along with a newly constructed kitchen pantry.

There are Kohler fixtures in the bathrooms.

The listing says it has a new washer/dryer in the unit. There’s no central air but it has “2 new wifi/alexa top of the line a/c window units with 8&10 BTUs.”

There’s no parking with the building but there are “leased parking options next door” and in the neighborhood for $175 to $225 a month).

This building is located in a landmark district which is steps from express buses and the shops and restaurants on Broadway, Clark and Diversey.

The listing says its in the Nettlehorst school district.

Listed at $625,000, is this 3-bedroom a townhouse alternative?

Lisa Reznick at @properties Christie’s International has the listing. See the pictures and floor plan here.

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

• Sold in March 1995 for $210,000
• Sold in August 2003 for $376,000
• Sold in June 2011 for $390,000
• Sold in July 2018 for $515,000
• Currently listed for $625,000
• Assessments are now $628 a month (they were $613 a month in 2018 and $523 a month in 2011)(Includes heat, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are now $9335 (they were $7,774 in 2018 and $5,444 in 2011)
• No central air – window units with wifi/alexa
• Washer/dryer in the unit
• Rental parking available next door or in the neighborhood for $175 to $225 a month
• Decorative fireplace
• Bedroom #1: 13×14
• Bedroom #2: 12×15
• Bedroom #3: 8×14
• Den: 13×8
• Foyer: 9×6
• Kitchen: 19×8
• Living room: 18×16
• Dining room: 16×14

This vintage row house at 566 W. Arlington in East Lincoln Park came on the market in March 2022.

Built in 1895, the listing says it was designed by Chicago architect Henry Ives Cobb and is the middle of the “Three Sisters” row homes on the street.

It is on a 16.58 x 90 lot.

The listing says it’s been fully renovated but it still has many of its vintages features including 3 original fireplaces, custom built-ins, millwork, crown molding, and a wood staircase.

The listing says the property has “one-of-a-kind” light fixtures and marble baths.

The row house has a large foyer and skylights.

The eat-in kitchen has white cabinets, high end appliances, a custom hood, a bar with a zinc counter top and a banquette which leads through French doors to a 12×15 deck.

A powder room was also added to the main floor, tucked into the kitchen.

All four bedrooms are on the higher floors with the primary suite on the top floor which includes Rohl fixtures, a vanity with dual sinks, a soaking tub and steam shower. It has a dressing hall and its own washer/dryer.

The second floor has 3 bedrooms and 2 bathrooms.

The lower level has a recreation room with a wet bar and a family room that could be a fifth bedroom. There’s also a full bath, the second washer/dryer and a mud room.

The listing says the row house has a new flat roof and tuck pointed chimneys.

It has central air but there is no parking. However, the listing says there are 3 leased garage parking spaces on the same block that can transfer with the sale.

It’s in the Alcott and Lincoln Park High School school districts and is close to several top private schools as well.

The row house is near the shops and restaurants on Clark and is a short stroll to Lincoln Park.

Listed at $1.869 million, is this row house a dream for vintage lovers?

Jennifer Ames at Engel & Voelkers Chicago has the listing. See the pictures and floor plan here.

566 W. Arlington: 4 bedrooms, 4.5 baths, 3700 square feet, row house

• Sold in June 2002 for $470,000
• Sold in January 2009 for $1.25 million
• Currently listed at $1.869 million
• Taxes of $20,550
• Central Air
• No parking but 3 leased garage spaces on the same block can be transferred
• 3 original fireplaces
• 2 sets of washer/dryers
• Bedroom #1: 16×14 (third floor)
• Bedroom #2: 15×17 (second floor)
• Bedroom #3: 12×12 (second floor)
• Bedroom #4: 12×11 (second floor)
• Family room: 15×17 (lower level)
• Recreation room: 15×22 (lower level)
• Dining room: 15×12 (main floor)
• Living room: 11×17 (main floor)
• Kitchen: 11×20 (main floor)
• Office: 7×7 (third floor)
• Foyer: 12×10 (main floor)
• Laundry: 9×12 (lower level)
• Walk-in-Closet: 5×17 (third floor)
• Deck: 12×15 (main floor)

This 4-bedroom Italianate cottage at 2121 N. Hudson in East Lincoln Park came on the market in March 2022.

Built in 1869 by WW Boyington, who was the architect of the Water Tower, according to the listing, it is one of only 3 north side houses that survived the Chicago Fire.

Built on a larger than standard 46×106 lot, the listing says it has been enlarged and improved by the current owners.

It has an attached 2-car garage.

The exterior staircase leads to the main level which includes the living room, library and one of the four bedrooms.

The living room has a 2-story cathedral ceiling with a double sided wood burning fireplace which is shared with the library.

The primary suite is on the second floor and has a walk-in-closet, en suite bathroom with a shower and separate tub along with a double vanity, and a private deck.

The third floor has the fourth bedroom and an attic space.

The kitchen is in the lower level and has quarter sawn oak cabinets, granite counter tops, antique French tiled floors, stainless steel appliances and an island with seating for two. There’s also a separate breakfast nook.

There’s a dining room or family room in the lower level, a mudroom which leads to the attached garage, a media room, the third bedroom, an office and a full bathroom.

The listing indicates that the media room, bedroom, bathroom and office have a private entrance and could be a nanny’s suite or a private office suite.

The side lot is landscaped and has a brick patio for alfresco dining, a fountain and is fully fenced.

The house has central air.

It’s in a popular East Lincoln Park neighborhood near the Lincoln Park Zoo, Oz Park and the shops and restaurants on Lincoln and Clark.

Listed at $2.395 million, this cottage has vintage flair and history but modern amenities that are rarely found in homes this old including a primary suite and 2-car garage.

Will it sell quickly?

Elizabeth Bleeker at @Properties Christie’s International has the listing. See the pictures, floor plan and video here.

2121 N. Hudson: 4 bedrooms, 4 baths, 3650 square feet, Italianate cottage

• Sold in July 1989 for $449,500
• Sold in December 2005 for $1.4 million
• Currently listed at $2.395 million
• Taxes of $35,703
• Central Air
• 2-car garage
• Larger than standard lot measuring 46×106
• Skylights
• Wood burning fireplace
• Bedroom #1: 19×14 (second floor)
• Bedroom #2: 14×12 (main floor)
• Bedroom #3: 14×12 (lower level)
• Bedroom #4: 14×16 (lower level)
• Living room: 30×13 (main floor)
• Dining room: 19×19 (lower level)
• Kitchen: 20×12 (lower level)
• Library: 29×10 (main floor)
• Attic: 22×9 (third floor)
• Media room: 15×12 (lower level)
• Mud room: 5×5 (lower level)
• Laundry: 7×5 (lower level)
• Walk-in-closet: 9×12 (second floor)
• Office: 12×6 (lower level)
• Breakfast nook: 13×8 (lower level)
• Deck: 10×9 (second floor)

February sales remained red hot in Chicago as inventory continued to be at multi-year lows.

Only 2005 was hotter for sales over the last 25 years.

From the Illinois Association of Realtors:

In Chicago, home sales (single-family and condominiums) in February 2022 totaled 1,879 homes sold, up 13.3 percent from February 2021 sales of 1,658 homes.

The median price of a home in the city of Chicago in February 2022 was $320,000, the same as it was in February 2021.

Here is the sales data for February going back to 1997 (courtesy of G):

• 1997: 881 sales
• 1998: 991
• 2000: 1383
• 2001: 1151
• 2002: 1677
• 2003: 1566
• 2004: 1814
• 2005: 2228
• 2006: 1855
• 2007: 1703
• 2008: 1454
• 2009: 870
• 2010: 1257
• 2011: 1092
• 2012: 1250
• 2013: 1411
• 2014: 1361
• 2015: 1497
• 2016: 1567
• 2017: 1529
• 2018: 1535
• 2019: 1449
• 2020: 1496
• 2021: 1658
• 2022: 1879

Here is the Median Price Data also going back to 1997 (thanks G!):

• 1997: $117,000
• 1998: $132,000
• 1999: $143,750
• 2000: $161,500
• 2001: $180,200
• 2002: $212,000
• 2003: $215,000
• 2004: $229,900
• 2005: $268,900
• 2006: $267,500
• 2007: $270,000
• 2008: $290,000
• 2009: $218,125 (with 31% being REO/Short Sales)
• 2010: $176,000 (with 46% being REO/Short Sales)
• 2011: $150,250 (with 50% being REO/Short Sales)
• 2012: $140,300 (with 52% being REO/Short Sales)
• 2013: $158,000
• 2014 $175,000
• 2015: $212,000
• 2016: $236,000
• 2017: $246,000
• 2018: $272,000
• 2019: $272,500
• 2020: $290,000
• 2021: $320,000
• 2022: $320,000

“The strong real estate market continued in February with increasing closed sales and a steady median sales price,” said Antje Gehrken, president of the Chicago Association of REALTORS® and president and designated managing broker of A.R.E. Partners. “Despite rising interest rates, buyers remained dedicated to getting into homes, and well-priced homes continued to move quickly off the market.”

Statewide, housing inventory fell 34.1% year-over-year to 17,650 from 26,791 properties.

In Chicago, inventory fell 30.3% year-over-year to 5,612 properties from 8055.

Days on the market in Chicago only fell 1 day, however, to 49 from 50 days last year.

In Chicago, sales continue to be higher for both single family homes and condos. Single family homes rose 18.2% to 720 while condos were up 10.5% to 1159.

“Prices are continuing to increase while remain low throughout Illinois,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate (SHDRE) at the University of Illinois at Chicago College of Business Administration. “The number of sales will pick up with the arrival of spring, but the number of listings remains low by historical standards. Inflation continues to be a concern for consumers, and the recent rate increase by the Fed is likely to lead to a rise in interest rates, although rates remain low.”

The average 30-year fixed mortgage rate was 3.76% in February 2022 up from 3.45% in January and up from 2.81% in February of last year.

However, rates have spiked quickly even in just the last week, pushing the 30-year fixed closer to 5%. That would be a 3-year high for rates.

How quickly will 5% mortgage rates cool the red-hot Chicago housing market?

Will February be the last month of decade high sales?

Median prices rise for Illinois homes and sales remain brisk [Illinois Association of Realtors, press release, By Bill Kozar, March 18, 2022]