Crib Chatter

This 4-bedroom single family home at 3308 N. Bell in Roscoe Village went under contract in only 10 days.

The house has a renovated kitchen with cherry cabinets, granite countertops and stainless steel appliances that is open to the large family room.

3 out of the 4 bedrooms are all on the second level. There’s a big deck on the back of the house that leads to a leafy backyard.

The house has central air and a 2.5 car garage.

It seems to have it all and Roscoe Village is “hot.”

Was the price right?

Mario Greco at Prudential Rubloff has the listing. See more pictures and floorplan here.

See the property website here.

3308 N. Bell: 4 bedrooms, 2.5 baths, 2 car garage

• Sold in April 1992 for $119,000
• Sold in August 1995 for $291,000
• Sold in March 2001 for $522,000
• Sold in June 2004 for $649,000
• Sold in August 2006 for $728,000
• Originally listed in September 2009 for $729,000
• Under contract in ten days
• Taxes of $7798
• Central Air
• Bedroom #1: 20×16
• Bedroom #2: 13×11
• Bedroom #3: 11×9
• Bedroom #4: 20×10 (lower level)

Before there was the Lakeshore East development and Millennium Park, there were the high rises along Randolph Street and Harbor Drive.

The Park Shore, at 195 N. Harbor Drive, is a 482-unit high rise that was built along Lake Shore Drive and the Lake in 1991.

It is a full service building with a rooftop outdoor pool, tennis courts, a grocery store and a hair salon.

The building seemed to be ahead of its time as it boosts floor to ceiling windows. It also has the unit amenities of the newer Lakeshore East buildings such as central air, deeded parking and an in-unit washer/dryer.

This 2-bedroom with den on the 47th floor has some great views of Millennium Park and the city. The listing says it has updated kitchen and baths. It also has hardwood floors in the main living areas.

Someone commented recently that you seem to get more bang for your buck in this, and some of the other older, nearby buildings, than in Lakeshore East’s new construction.

Is this building an overlooked deal?

Sharon Sullivan at Koenig & Strey has the listing. See the pictures here.

Unit #4706: 2 bedrooms, 2 baths, den, 1300 square feet

• Sold in October 1997 for $229,500
• Sold in March 2000 for $360,000
• Originally listed in June 2009 for $539,000
• Withdrawn
• Re-listed in August 2009 for $539,000
• Currently listed for $539,000 (parking included)
• Assessments of $706 a month (includes doorman, cable, heat, pool, tennis courts)
• Taxes of $5078 
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 15×14
• Bedroom #2: 13×11
• Den: 14×11
• Living room: 18×13
• Dining room: 10×8
• Kitchen: 10×8

We’ve chattered about this 4-bedroom cottage home at 1750 W. Grace in Lakeview several times before.

See our June 2009 chatter here.

It is still on the market and has been reduced another $15,000. It is now listed $25,000 under the 2006 purchase price.

The listing says it’s a great alternative to a condo.

It has a two car garage, central air and, most importantly, two bathrooms.  It also has a small, but manageable backyard, for those buyers with pets or a green thumb.

It’s not directly on an El line or the metra tracks.

After 16 months and numerous reductions, why isn’t this single family home in Lakeview selling?

Scott Zelkin at @Properties has the listing. See the pictures here.

1750 W. Grace: 4 bedrooms, 2 baths, 2400 square feet, 2 car garage

• Sold in May 2006 for $555,000
• Was listed in May 2008 for $669,900
• Reduced several times
• Was listed in November 2008 for $584,900
• Withdrawn
• Re-listed in April 2009 for $575,000
• Reduced
• Was listed in June 2009 for $550,000
• Reduced
• Currently listed for $535,000
• Taxes of $7162
• Central air
• Basement

We last chattered about this unique 1946 mid-century modern house at 2939 W. Catalpa in Budlong Woods that was commissioned by Keck & Keck in May 2009.

See our prior chatter and pictures here.

It is still available.

The prior pictures from May, before spring had sprung, don’t do the grounds justice as the house is on a third of an acre and has lovely gardens and a pond. You can now see it in all its glory.

The house also has Terrazzo and walnut radiant floors, a commercially appointed kitchen, and a glass studio/greenhouse.

Jennifer South at Dreamtown Realty still has the listing. See more pictures here.

Here’s more on what a Keck & Keck design means from a Dreamtown press release.

See the property’s website here.

2939 W. Catalpa: 4 bedrooms, 3 baths, 2.5 car garage

• Sold in March 1995 for $499,000
• Sold in March 2004 for $800,000
• Was listed in May 2009 for $1.399 million
• Currently listed at $1,399,900
• Taxes of $12,080
• Central Air
• 9-zone irrigation system
• Master suite with marble bath

We last chattered about price cuts at Superior 110, the boutique modern new construction high rise at 110 W. Superior in River North, in the middle of August.

See our prior chatter here.

The developer had an ad in the Chicago Tribune this weekend talking about the “amazing price reductions.” 

Aren’t these the same reductions as before?

In the ad, price cuts range from $95,275 to $229,513 depending on the size of the unit. Here are some examples from the ad:

Unit #802: 2 bedrooms, 2 baths, southwest corner

• Was $650,250
• Now $554,975 (parking included)

Unit #1501: 2 bedroom, 2 baths, southeast corner

• Was $704,903
• Now $604,163 (parking included)
• In August, this unit was previously listed as $637,000 and also reduced to $604,163

How did the price cuts get more “amazing” in just the last 6 weeks on units like #1501?

It looks like they now included the parking (a savings of $50,000 to $60,000).

Are these a better deal now that they’re including the parking?

See pictures of Unit #1501 here.

See virtual tours on the building’s website here.

This 1875-built vintage home at 1722 N. North Park in the “prime” part of Old Town has been restored to its former beauty (and then some.)

We last chattered about it in June when several of you thought it would sell for close to asking despite there not being any parking with the house.

See our prior heated discussion on the property here.

Since then, it has been reduced $300,000.

The listing describes it as a “eco-friendly” rehab.

The house has 3 exposures, radiant heat on all levels, and Viking, Sub-Zero, and Miehle appliances in the WoodMode kitchen.

And don’t forget the mud room.

Robert Picciariello at Prello Realty Group has the listing. See the pictures here.

1722 N. North Park: 5 bedrooms, 4.5 baths, plus den, 3492 square feet

• Sold in July 2008 for $1.435 million
• Was listed in June 2009 for $2.3 million
• Reduced
• Currently listed for $2 million
• Taxes of $16,920
• No parking
• Central Air

We last chattered about this 3-bedroom unit at The Chandler, at 450 E. Waterside Drive, in Lakeshore East, in December 2008.

It had come back on the market only 10 months after it was purchased.

See our prior chatter and pictures here.

But 10 months later, it is still for sale and has been reduced about $100,000.

The listing says it has the highest ceiling heights in the building. It also has river and Navy Pier views.

Back in December 2008, it had a “very motivated seller.” And now?

Kim Hamburg at Coldwell Banker now has the listing. See the pictures here.

Unit #2902: 3 bedrooms, 2.5 baths, 2131 square feet

• Sold in February 2008 for $1,141,551
• Was listed in December 2008 for $1.3 million (plus $50k each for 2 parking spaces)
• Reduced
• Currently listed for $1,199,900 (2 parking spaces available for extra)
• Assessments of $996 a month
• Taxes are “new”

The Chicago Tribune digs into the August sales numbers and finds that sales in the condo market are much slower than the single family home market.

Condo sales have crashed in several neighborhoods year over year:

• Rogers Park down 13.2%
• Edgewater down 32.9%
• Uptown down 27.1% 
• Lakeview down 35.7%
• Lincoln Park down 12.9%
• Near North side down 13.9%
• Near West Side down 10.2%
• West Town down 29.5%
• Loop down 32.8%
• Near South side down 48.7%

Sales are being hampered by tighter credit and falling prices which puts pressure on other sellers to lower prices, which many are unwilling to do.

“Condo sales, until the beginning of this year, were the best part of our market,” said David Hanna, president of the Chicago Association of Realtors. “There aren’t any buyers for this stuff because the lending process is tortuous.”

Also, the condo market for move-up buyers is hampered by the high cost of jumbo mortgages of more than $417,000 and the higher down payments required for those loans. Foreclosures and short sales are bringing down comparable prices within buildings too.

“Prices are a disaster and it’s creating this vacuum in the market where everyone’s prices are pulled down,” Hanna said. “And it’s happening in the best buildings in the city.”

Some sellers whose property has been on the market for months are going to try and become landlords.

Phil Sammarco didn’t think it’d be so hard to sell his two-bedroom, two-bathroom condo in the city’s DePaul neighborhood when he put it on the market in March for $449,000. Now priced at $435,000, he has fielded — and rejected — a few low-ball offers and showed the unit to a lot of first-time buyers who have indicated they have a wealth of properties to look at.

Now he’s thinking of turning it into a rental instead of lowering the price again.

“You’ve got a lot of choices,” Sammarco said. “Right now nobody is really comfortable that the worst is behind us. If you don’t think the market is stable and you don’t think it’s going to be as good or better, why wouldn’t you rent?”

The article talks about how sales are up in September due to the looming deadline for the first time homebuyer tax credit.

But how many of those buyers are buying $400,000 and $500,000 condos? 

Chicago single-family-home sales jump, but condos are still suffering [Chicago Tribune, Mary Ellen Podmolik, Sep 25, 2009]

This 1-bedroom unit just came on the market at 3550 N. Lake Shore Drive in Lakeview, a complex that was built in 1962.

The listing says the unit cannot be shown because of “extensive mold issues.”

The listing also says it’s being sold “as-is” by the office of the Public Guardian.

You need to sign a special rider.

There are no appliances listed on the public listing (the non-MLS listing).

Oh, and the sale is “cash only.” The unit is currently the cheapest 1-bedroom unit for sale in the building.

Diane Diedrich at Coldwell Banker has the listing. See the listing here (no interior pictures, obviously.)

Unit #1607: 1 bedroom, 1 bath, no square footage listed

• Sold in December 1985 for $44,500 (according to Redfin. The CCRD only lists the sale but no amount).
• Currently listed for $110,000 (listing says it’s “below market value.”)
• Assessments of $452 a month
• Taxes of $934
• Parking is available for lease for $110 a month
• Bedroom: 16×12
• Living room: 20×14
• Dining room: 11×8
• Kitchen: 11×8

It’s hard enough to find a 1-bedroom condo in Bucktown with parking, let alone your own garage.

 But this 1-bedroom plus den vintage unit at 2117 W. Canton has a prime Bucktown location and its own private garage space.

The unit is located on the top floor of a courtyard building only steps from Bucktown nightlife and the El stop.

It has a gas fireplace and french doors.

What is missing is the central air and the in-unit washer/dryer. The listing says there is laundry in the basement.

Amy Diamond at D’Aprile Realty has the listing. See the pictures here.

Unit #3N: 1 bedroom, 1 bath, den, 900 square feet

• Sold in July 1998 for $123,000
• Sold in February 2004 for $204,000
• Originally listed in June 2009 for $233,000
• Reduced in July 2009 to $227,900
• Currently still listed at $227,900
• Assessments of $317 a month (includes heat)
• Taxes of $2348
• Bedroom: 14×13
• Den: 12×8
• Living room: 16×15
• Kitchen: 10×10