Crib Chatter

Some listings call their units “penthouses” but this penthouse unit at 1155 N. Dearborn, Elm Street Tower, in the Gold Coast truly is at the top of the building.

The 3-bedroom unit occupies the entire top floor, the 16th floor, of the building. It has 360 degree views which is rare for a condo unit. The unit has private access to the floor. 

As expected of a penthouse, it also has 2 private 200 square feet rooftop terraces.

The listing says the “seller wants an offer.”

Janet Owen at Sudler Sotheby’s has the listing. See the pictures here.

Unit #16PH: 3 bedrooms, 3.5 baths, 3300 square feet, 2 car parking

• Sold in November 2006 for $1,575,500
• Listed in May 2009 for $2.099 million
• Currently still listed for $2.099 million
• Assessments of $2416 a month (includes heat, a/c, water, parking)
• Taxes of $23,449
• Full floor unit
• Family room
• Special assessment to be paid by the seller

If you love unique properties then this duplex at 1638 W. Superior in the Ukranian Village is for you.

Yes, we’ve chattered about this 1880s church several times before (see our prior discussion about another unit that went into foreclosure here.)

But who doesn’t love that 14×15 stained glass? There is nothing else like it on the market.

It has 20 foot ceilings, two full slate baths and the kitchen has updated granite countertops and stainless steel appliances.

The second bedroom is also fully enclosed and also has church features.

Greg Vollan at @Properties has the listing. See more pictures and a virtual tour here.

Unit #9: 2 bedrooms, 2 baths, 2 parking spaces, no square footage listed

• Sold in September 1999 for $314,000
• Sold in September 2006 for $449,000
• Originally listed in June 2009 for $499,900
• Reduced
• Currently listed for $479,900 (2 parking spaces included)
• Assessments of $404 a month
• Taxes of $5559
• Central Air
• In unit washer/dryer
• Duplex
• Bedroom #1: 17×16
• Bedroom #2: 13×12
• Living room: 30×16
• Kitchen: 12×10

We’ve chattered about 600 N. Kingsbury, or Park Place, in River North before.

The building was built in 2002 and has 165 units.

This 1-bedroom bank owned unit just came on the market.

The listing says it has a maple kitchen with granite counter tops and hardwood floors. There are no pictures with the listing yet.

The unit has central air, in-unit washer/dryer and a parking space is included.

It is also priced $37,000 under the 2002 purchase price.

If the kitchen and bath are intact, is this a deal for River North?

Henry Jones at Jones Realty has the listing. See the listing here (no interior pictures yet.)

Unit #814: 1 bedroom, 1 bath, 705 square feet

• Sold in December 2002 for $215,000
• Lis pendens filed in February 2006
• Lis pendens filed in August 2008
• Bank owned in June 2009
• Currently listed for $178,200 (parking included)
• Assessments of $406 a month
• Taxes of $2859
• Central Air
• Washer/Dryer in the unit

There’s something about the vintage buildings in the Gold Coast that can’t be found anywhere else in the city.

This 1-bedroom unit at 1450 N. Dearborn has recently been renovated but kept many of the vintage features of the building which was constructed in 1877.

The kitchen and the bath were completely redone with the bath having such finishes as a Jado faucet and a Duravit sink.

There’s a washer/dryer (visible in the pictures of the kitchen) but no central air (only window units) and no parking (rental available nearby.)

But for vintage lovers, they just don’t build them like this anymore.

Emily Sachs Wong at Koenig & Strey has the listing. See the pictures here.

Unit #3A: 1 bedroom, 1 bath, 1000 square feet

• Sold in April 1989 for $135,000
• Sold in September 1999 for $219,000
• Sold in October 2004 for $300,000
• Currently listed for $399,000
• Assessments of $340 a month (includes heat and water)
• Taxes of $5402
• Washer/Dryer in the unit
• No central air- window units
• No parking (rental next door for $205 a month)
• Bedroom: 15×15
• Living room: 24×17
• Kitchen: 13×10
• Other: 10×7

We chattered about this 2500-square foot duplex down at 915 W. Wrightwood in Lincoln Park in April 2009.

See our prior chatter and pictures here.

It recently closed for $4,000 under the 2005 purchase price.

It had all the bells and whistles including a great Lincoln Park location and more square footage than many single family homes.

Unit #1: 3 bedrooms, 2.5 baths, 2500 square feet, 1 car garage parking

• Sold in June 2005 for $719,000
• Was listed in April 2009 for $749,000
• Sold in July 2009 for $715,000 
• Assessments of $182 a month
• Taxes of $9962
• Two fireplaces
• Mario Greco at Rubloff had the listing.

Crain’s reports that PrivateBank & Trust Co. has filed to foreclose on the 219-unit conversion Pearson on the Park at 222 E. Pearson in the Gold Coast.

We have chattered about this building in the past. See our prior discussion and pictures here.

From Crain’s:

The bank alleges that the developer of the project at 222 E. Pearson St., an entity formed by Ganesan Visvabharathy, missed its February loan payment and failed to pay off the $6.8-million loan balance when it came due in March.

Attempts to reach Mr. Visvabharathy, who has a Ph.D. and is better known as Dr. Vish, were unsuccessful. The developer paid $46.6 million for the building in July 2005, when it was an apartment building. He borrowed $52.5 million from Hypo Real Estate Capital Corp. and $7.5 million from American Mortgage Acceptance Corp. to finance the purchase and his plan to convert the apartments to condos.

Those loans came due in August of 2007, and he refinanced the development with a new $17-million loan from PrivateBank. The loan carried interest of the prime rate plus 1%, or 7.25%, whichever is greater, according to a document included with the foreclosure suit, which was filed this month in Cook County Circuit Court.

To secure the loan, Dr. Vish pledged 55 acres of undeveloped land in downstate Mount Vernon and signed a personal guarantee. The loan originally matured last November but was extended to March.

The developer asked for another extension, to March 2010, a request PrivateBank had agreed to consider based on certain conditions, according to a letter the bank’s attorney sent Dr. Vish in April. Now, however, the bank just wants its money back.

Pearson on the Park is 80% sold but Crain’s reports that just 3 units have sold this year.

In recent months, the developer has cut prices in condos at Pearson on the Park by an average of 13%, but it’s unclear whether that will be enough to goose sales in the building. Downtown condo converters sold just 17 units in the first quarter, down from 62 in the year-earlier period, according to Appraisal Research Counselors, a Chicago-based consulting firm.

Streeterville condo conversion faces foreclosure [Crain’s Chicago Business, Alby Gallun, July 29, 2009]

We last chattered about this 2-bedroom unit at 2300 N. Commonwealth in Lincoln Park in March 2009.

2300 N. Commonwealth was a successful Belgravia conversion in 2006-2007.

See our prior chatter here.

Since then, the unit has been reduced by $29,000.

It is currently listed for $44,000 under the 2006 purchase price.

The listing still calls it a “great investment in any market.”

Keith Weinstein still has the listing. See the pictures here.

Unit #7L: 2 bedrooms, 1 bath, no square footage listed

• Sold in 2006 for $414,000 (included parking)
• Was listed in March 2009 for $399,000 (parking included)
• Reduced in late March 2009 to $370,000 (parking included)
• Currently listed for $370,000 (parking included) 
• Assessments of $353 a month
• Taxes of $5,000
• Living room: 14×14
• Dining room: 8×10
• Kitchen: 10×8
• Bedroom #1: 14×16
• Bedroom #2: 13×12

We were chattering yesterday that it was difficult to find 2000 square foot properties that weren’t duplex down for “affordable” prices (i.e. not a $1 million) in “prime” neighborhoods.

This 3-bedroom duplex up at 2642 N. Seminary in Lincoln Park appears to meet the criteria.

It has 2000 square feet and cathedral ceilings in the living/dining rooms. The second level has a den and the master suite.

The unit also has 2 large patios and garage parking.

Craig Isacson at @Properties has the listing. See the pictures and a virtual tour here.

Unit #3N: 3 bedrooms, 3 baths, 2000 square feet, 1 car garage parking

• Sold in August 2000 for $466,000
• Sold in August 2005 for $545,000
• Originally listed in April 2009 for $565,000
• Currently still listed for $565,000 (looks like parking is included)
• Assessments of $197 a month
• Taxes of $6297
• Central Air

Most people describe an authentic loft as one having wide-open space, high ceilings and some industrial features like brick, timber, or exposed concrete.

This massive 1-bedroom duplex loft at 1000 W. Washington in the West Loop certainly qualifies under the definition.

At 1400-square feet, it is large enough to truly entertain as they do in Hollywood movies.

It not only has a duplex up but the living room is elevated which gives the appearance of separation of some of the spaces.

Matt Garrison at Coldwell Banker has the listing. See more pictures here.

Unit #144: 1 bedroom, 1.5 baths, 1400 square feet

• Sold in July 1996 for $195,000
• Sold in April 2000 for $240,000
• Sold in May 2005 for $291,500
• Originally listed in January 2009 for $309,900
• Reduced several times
• Currently listed at $294,900 (plus $25k for parking)
• Assessments of $503 a month (includes water, cable, parking)
• Taxes of $3510
• Listing says seller will “pay half of first years assessments”
• Central Air
• Washer/Dryer in the unit

The Trio Condominiums at 650 W. Wayman in the Fulton River District on the near west side is the latest new construction condo development to announce price reductions.

The new ad says prices have been cut $25,000.

1. 1/1 was $294,900 and now is $269,900
2. 2/2 was $270,900 and now is $245,900

The marketing ad says “hurry, this deal won’t last.”

There’s no indication if parking is included or not.  I also don’t have the info on the square footage or views of the units that are still available and reduced.

Is this even a “deal”?

There is a 2/2 currently available for sale that is a re-sale unit. It seems competitively priced with the developer’s pricing.

This listing will also give you an idea of the finishes of these units.

Alejandra Benitz at Re/Max Partners has the listing. See the pictures here.

Unit #303C: 2 bedrooms, 2 baths, no square footage listed

• Sold in September 2007 for $251,000
• Originally listed in March 2009 for $277,900
• Reduced several times
• Currently listed for $250,000 (parking available for extra)
• Assessments of $174 a month
• Taxes are “new”
• Bedroom #1: 11×11
• Bedroom #2: 8×8
• Living room: 21×18
• Kitchen: 10×5

Jameson is handling sales at the building. See more info on the building here.

Trio Condominiums [website]