Crib Chatter

Looking for an easy commute into the loop?

We last chattered about this 3-bedroom english brick bungalow at 2032 N. Oak Park in Galewood in February 2009.

See our prior chatter here.

It is just a 2 block stroll to the Metra stop and a 20 minute train ride downtown.

The kitchen has been updated and has stainless steel appliances. It also has a lovely remodeled master suite and limestone master bath with skylights.

There’s a finished basement and three bathrooms.

You can check out the property for yourself this weekend at the Open House on 9/27 from 1:30 to 3:30.

Art Collazo and Michelle Orton Loftus at Koenig & Strey still have the listing. See more pictures here.

2032 N. Oak Park: 3 bedrooms, 3 baths, no square footage listed 1.5 car garage

• Sold in August 1995 for $116,500
• Sold in July 2002 for $235,000
• Sold in July 2007 for $348,000
• Was listed in February 2009 for $369,000
• Reduced
• Currently listed for $299,000
• Taxes of $3045
• Central Air
• Finished basement with gas fireplace and dry bar
• Bedroom #1: 30×15
• Bedroom #2: 11×9
• Bedroom #3: 12×9

The  August sales and price statistics are out from the Illinois Association of Realtors and show further declines in the city in both sales and median price. Chicago appears to be struggling to increase sales more than the total Chicagoland area.

The first-time home buyer credit boosted sales for the month. The IAR also states that foreclosures and short sales continue to put downward pressure on prices.

From the Illinois Association of Realtors:

In the city of Chicago, August total home sales (single-family and condominiums) totaled 1,928, down 7.2 percent from 2,078 homes sold in August 2008. The city of Chicago median price in August 2009 was $229,476, down 22.9 percent from $297,500 a year ago in August 2008.

“Homebuyers continue to be active, and the absorption of distressed inventory is the reason the number of units sold in August 2009 is nearly the same as this time last year. Still, the housing market in the Chicagoland area is far from robust, as most home sellers will attest. We strongly advocate for an extension and expansion of the American Recovery and Reinvestment Act’s first-time homebuyer tax credit program, broadened to include all buyers and favoring no taxpayer over another,” said David Hanna, president of the Chicago Association of REALTORS®.

 “Here in Chicago the move-up buyer and those with higher incomes are facing a number of additional financial and procedural obstacles that must be addressed.”

Sales were actually higher by 1.3% year over year in the 9-county Chicagoland area as 7,009 homes sold in August compared to 6,917 in August of 2008.

“The Internal Revenue Service recently reported the $8,000 first-time homebuyer tax credit has provided a tax benefit to more than 1.4 million people to date. REALTORS® are urging Congress to extend the tax credit beyond the fast-approaching deadline of December 1 so more people can take advantage of it,” said Onorato, broker-owner of Onorato Real Estate in Coal City. “Also just now gaining awareness is the Illinois Home Start program, which offers eligible first-time buyers a short-term no-interest loan of up to $6,000 for the down payment in anticipation of the tax credit. With more time, these programs can really help sidelined homebuyers.”

According to Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois: “The size of the unsold housing inventory continues to make this a buyers’ market with an approximate value of nine months for Illinois and almost 11 months for Chicago at current sales rates. Absent an uptick in sales, it is unlikely that prices will recover much before the middle of 2010.”

August Illinois Home Sales Strong at the Entry Level, Statewide Median Price at $165,000 [Press Release, Illinois Association of Realtors, Sep 24, 2009]

We’ve chattered about this 2-bedroom vintage unit at 507 W. Aldine in East Lakeview several times since last February.

See our first chatter and pictures in February 2009 here.

It had seen numerous reductions before it finally went under contract early in the summer.

But suddenly, it has come back on the market at the same price as when we last chattered about it in June.

The unit has 2 full baths, a wood burning fireplace and a separate dining room.

It also has the all-important (for East Lakeview, at least) deeded parking spot and in-unit washer/dryer. All that seems to be missing is the central air (as it has window units.)

Will this go under contract again as quickly as it did last June?

Brent J. Rosenbower at Sudler Sotheby’s still has the listing. See the pictures here.

Unit#2B: 2 bedrooms, 2 baths, dining room, no square footage listed

• Sold in May 1995 for $154,000
• Sold in June 1998 for $199,000
• Sold in April 2000 for $243,000
• Sold in March 2007 for $379,000
• Was listed in February 2009 for $410,000 (included the parking)
• Reduced
• Was listed in March 2009 for $399,900 (included the parking)
• Reduced
• Was listed in May 2009 for $375,000 (includes the parking)
• Reduced
• Was listed in June 2009 for $339,000
• Under contract
• Re-listed in September 2009 for $339,000
• Assessments of $344 a month
• Taxes of $4830
• No central air- window units
• In-unit Washer/Dryer
• Wood-burning fireplace
• Bedroom #1: 14×12
• Bedroom #2: 12×11

This 3-bedroom new construction luxury condo at 3512 N. Southport in the heart of the action in Southport came on the market in July 2009 only one year after it was purchased.

It was originally listed $25,000 under the 2008 purchase price and then was reduced further.

The unit has upscale finishes like a Viking stove and solid core doors.  It also has both front and rear decks.

The building also has an elevator (a must for some buyers at this price point).

The listing says there is a 2-car tandem parking spot with one space being covered (looks like a carport.)

Was this a bargain for the buyer?

Gregory Desmond at Prudential Rubloff has the listing. See the virtual tour, floorplan and pictures here.

See the property website here.

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

• Sold in July 2008 for $673,000
• Originally listed in July 2009 for $650,000
• Reduced
• Currently listed for $625,000
• Under contract
• Assessments of $223 a month
• Taxes are “new”
• Bedroom #1: 16×16
• Bedroom #2: 14×11
• Bedroom #3: 14×11
• Living room: 19×14
• Dining room: 19×8
• Kitchen: 14×10
• Laundry: 6×5

This 2-bedroom fee simple single family home at 1802 W. Diversey in West Lakeview just might be the kind of space that many buyers have been looking for.

The home offers the privacy of a single family home without the maintenance of one. It is located in a gated community and has a homeowner’s fee.

The house has an eat-in kitchen, a lofted office on the second floor and a private patio off the kitchen.

Is this a good starter home? The listing says it’s in the Burley school district.

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

See the property’s website here.

1802 W. Diversey Unit #I: 2 bedrooms, 2 baths, 1600 square feet, garage

• Sold in September 1996 for $214,500
• Sold in January 2000 for $295,000
• Sold in August 2006 for $410,000
• Currently listed for $399,000
• Assessments of $150 a month
• Taxes of $5293
• Central Air
• Bedroom #1: 15×12
• Bedroom #2: 11×11

The rowhomes on Alta Vista Terrace in Lakeview were originally built between 1900-1904 to resemble a street in London.

Even today, you feel like you’ve stepped out of Chicago briefly when you venture down the Chicago landmark district block.

Homes don’t often come on the market on Alta Vista Terrace, making them “prime” indeed.

However, 2 properties have suddenly been listed.

We chattered about one in August 2008 at 3805 N. Alta Vista that never sold. It has now been relisted and has been reduced by $30,000.

See our prior chatter here.

The listing says “interior livable but requires renovation.”

Susan Lawrence at @Properties has the listing. See the listing here. (No interior pictures available.)

3805 N. Alta Vista: 3 bedrooms, 2 baths, 2125 square feet

• Sold in June 1997 for $63,000 (went into foreclosure)
• Sold in March 1998 for $353,000
• Was listed in August 2008 for $585,000
• Withdrawn
• Re-listed in September 2009 for $555,000
• No parking
• Central air
• Taxes of $6029

Across the street, the 3-bedroom rowhouse at 3832 N. Alta Vista Terrace also came on the market. This home has the all-important garage.

The house has bay windows, 2 skylights and some of the original woodwork intact.

All three of the bedrooms are on the second floor and there is a newer lower level office with a full bath and steam shower.

It also has a brick paved yard.

How quickly will this sell to a historic home lover?

Millie Rosenbloom at Baird & Warner has the listing. See the pictures here.

3832 N. Alta Vista Terrace: 3 bedrooms, 4 baths, 1 car garage, 2100 square feet

• Sold in June 1992 for $318,000
• Sold in January 1994 for $325,000
• Currently listed for $800,000
• Taxes of $7597
• Central Air
• Bedroom #1: 11×10
• Bedroom #2: 12×9
• Bedroom #3: 10×8 

This 2-bedroom vintage unit at 839 S. Laflin in Little Italy has been updated but has not lost its character.

The unit still sports high ceilings, crown molding and a fireplace.

But the kitchen is modern with granite countertops, stainless steel appliances and white cabinets.

The unit has central air, an in-unit washer/dryer and appears to have a parking space (although I can’t tell for sure from the listing.)

Built in 1866, the building is steps away from the restaurants and shops on Taylor Street.

William Altier at Koenig & Strey has the listing. See the pictures here.

Unit 2-South: 2 bedrooms, 1 bath, no square footage listed

• Sold in September 2001 for $193,000
• Sold in October 2007 for $328,000
• Currently listed for $339,000
• Assessments of $146 a month
• Taxes of $1811
• Central Air
• In-unit Washer/Dryer
• Looks like there may be an assigned parking space
• Bedroom #1: 16×11
• Bedroom #2: 12×10
• Living room: 14×15
• Dining room: 10×13
• Kitchen: 12×10

We last chattered about this top floor 2-bedroom unit at 1855 N. Halsted in Lincoln Park in June.

See our prior chatter and pictures here.

The unit is far from your average top floor cookie-cutter condo with its distinctive staircase and lofted bedroom.

It also has a sunken living room and 2-car parking which is included.

It has been reduced $16,000 since June.

Ron Knoll at Saffron Realty still has the listing. See more pictures and a virtual tour here (be sure to check out the picture of the vintage elevator.)

Unit #1, according to the listing, is actually on the fourth floor.

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

• Sold in March 1988 for $150,000
• Sold in January 1994 for $228,000
• Sold in January 2002 for $395,000
• Sold in June 2007 for $562,500
• Was listed in June 2009 for $635,000
• Reduced
• Currently listed for $619,000
• Assessments of $429 a month
• Taxes of $5689
• Central Air
• Washer/Dryer in the unit
• Bedroom #1: 19×12
• Bedroom #2: 15×14
• Loft: 15×6

It’s rare that I get to do a flipper alert these days.

But several new condo units for sale by investors have appeared on Craigslist and the MLS for the 83-story Aqua, at 225 N. Columbus, the latest high rise in Lakeshore East.

Additionally, a couple are also already available for rent.

Of course, there are also several hundred apartments in the same building that are available for rent underneath the condominium floors.

This 1-bedroom listed on Craigslist says it’s for sale at pre-construction prices:

“Take advantage of a UNIQUE opportunity! For a limited time, you can still buy a 1-bedroom condo at pre-construction price at AQUA – the most exciting new building in Chicago selected as one of the Top 9 UNIQUE Structures in the World! You get stunning views of the Lake and Millennium Park from the UNIQUE balcony of the unit. Inside, you get luxury designer finishes: bamboo floor, snaidero cabinets, quartz countertops, stainless steel appliances, washer/dryer in unit, walk-in closets and floor-to-ceiling windows (even the window washing equipment is UNIQUE!)”

See the ad for the $358,000 1-bedroom here (no pictures yet- as closings apparently began last week on the condo portion of the building.)

Here is a listing on the MLS for a 687 square foot 1-bedroom unit on the 73rd floor that is contingent on closing.

The listing says the unit has Kitchen Aid stainless steel appliances, granite and floor to ceiling windows.

Charles Rutenberg Realty has the listing. See the listing here.

Unit #7309: 1 bedroom, 1 bath, 687 square feet

• Currently listed for $367,600
• Assessments of $358 a month
• Taxes are “new”
• Bedroom: 14×9
• Living room: 12×11
• Kitchen: 8×8
• Parking is extra

This huge 1-bedroom loft at 1020 S. Wabash in the South Loop has been on the market since July. It is being sold “as-is.”

It has been reduced several times and is now listed for 69% under the 2007 purchase price. 

It is also listed for $131,400 under the 2004 purchase price.

While only a 1-bedroom, the living/dining space is a massive 35×24 and the bedroom is 24 x 19.

It also has 2-baths, somewhat rare for 1-bedroom units.

The unit has stainless steel appliances, an in-unit washer/dryer and central air. It also appears to have a parking space included.

Is this a steal?

Ayoub Rabah at Great Street Properties has the listing. See the pictures here.

Unit #2G: 1 bedroom, 2 baths, no square footage listed

• Sold in September 2004 for $365,000
• Sold in June 2007 for $750,000
• Originally listed in July 2009 for $258,390
• Reduced several times
• Currently listed at $233,600
• Assessments of $424 a month
• Taxes of $4199
• Central Air
• In-Unit Washer/Dryer