Crib Chatter

This massive 4-bedroom duplex condo at 1041 W. Grace in Lakeview has been on the market since March.

Built in 2007, it has been reduced several times and is now listed at $81,001 under the 2007 purchase price.

This one has all the luxury finishes like Viking and Bosch appliances and silestone countertops.

The listing also says the 8 wall-mounted tvs are negotiable and that the garage is “exclusive”.

Are the new construction condo buildings getting hit the hardest on the north side?

Amanda Colby at Century 21 Pro-Team has the listing. See the pictures here.

Unit #1: 4 bedrooms, 3.5 baths, 2800 square feet, duplex, 1 car garage

• Sold in October 2007 for $769,000
• Originally listed in March 2009 for $779,000
• Reduced several times
• Currently listed at $687,999
• Assessments of $100 a month
• Taxes of $14,709
• Central Air

We last chattered about this 2-bedroom unit with a huge terrace at The Vetro, at 611 S. Wells, in the South Loop in June.

See our prior chatter and pictures here.

Since then, it’s had two reductions totaling $54,900 and is listed $45,500 under the 2007 purchase price.

The terrace is still described as a “blank canvas” so the buyer would have to landscape it.

The unit had some upgrades including marble and limestone in the master bathroom and fun features like a towel warmer.

Sara McMurray at Coldwell Banker still has the listing. See more pictures here.

Unit #706: 2 bedrooms, 2 baths, 1343 square feet, 1000 square foot terrace

• Sold in December 2007 for $524,500
• Was listed in June 2009 for $498,900 plus $35,000 for parking
• Reduced
• Currently listed for $449,000 plus $30,000 for parking
• Assessments of $450 a month
• Taxes are “new” 

This set of townhouses at 820 N. Dearborn in the Gold Coast were built in the 1990s.

Unit #B, which is bank owned, is a three level townhouse with the master bedroom on the third floor along with a private roof deck.

It has cherry floors and a fireplace and, at least according to the pictures, the kitchen and baths are intact.

It has been on the market since June and has been reduced once.

Currently, it is listed $210,100 under the 2007 purchase price but is still listed above the 2005 purchase price.

Will this find a buyer at the current price?

Susanne Lenz-Cassara at Re/Max Regency has the listing. See the pictures here.

Unit #B: 3 bedrooms, 2.5 baths, 1800 square feet, 1 car parking

• Sold in January 1996 for $230,000
• Sold in June 2005 for $477,500
• Sold in May 2007 for $750,000
• Lis pendens in April 2008
• Bank owned as of May 2009
• Originally listed in June 2009 for $589,900
• Reduced
• Currently listed for $539,900
• Central Air
• Skylights

Looking for space?

This 1920 vintage home at 2546 N. Bernard in Logan Square has 5 bedrooms and 3 baths.

It is bank owned and is now listed for $75,100 under the 2005 purchase price.

The house is only four blocks from Logan Circle and appears to have its kitchen and baths still intact. It also has central air and a 2-car garage.

Will buyers be jumping on this foreclosure?

Richard Wolnik at Riklin Realty has the listing. See the pictures here.

2536 N. Bernard: 5 bedrooms, 3 baths, 2 car garage, no square footage listed

• Sold in March 1995 for $183,500
• Sold in March 2005 for $675,000
• Lis pendens in February 2008
• Bank owned as of January 2009
• Recently listed for $599,900
• Taxes of $7929
• Central Air
• Bedroom #1: 16×14
• Bedroom #2: 14×12
• Bedroom #3: 14×11
• Bedroom #4: 22×10
• Bedroom #5: 20×14

We chattered about this 3-bedroom vintage unit at 670 W. Irving Park Road in the Pattington complex on the edge of Lakeview in May.

See our prior chatter and pictures here.

It is still on the market and has been reduced $30,000.

The unit is now listed $6,000 below the 2000 purchase price.

Henry Jones at Jones Realty still has the listing. See more pictures here.

Unit #G8: 3 bedrooms, 2 baths, 1800 square feet

• Sold in January 2000 for $215,000
• Sold in May 2002 for $290,000
• Sold in May 2004 for $325,000
• Bank owned
• Was listed in May 2009 for $239,900
• Reduced
• Currently listed for $209,900
• Assessments of $724 a month
• Taxes of $3812
• No central air- window units
• In-unit washer/dryer
• Parking available to rent
• Wood burning fireplace
• Bedroom #1: 13×16
• Bedroom #2: 10×11
• Bedroom #3: 8×9

This 2-bedroom condo at 1414 N. Wells in Old Town had been on the market since September 2008.

See our prior chatter and see the pictures here.

The unit had been entirely gutted and specialized with upper end finishes.

The listing said it was owned by a Hollywood movie producer and Johnny Depp had frequented the property.

It finally found a buyer.

The unit is now the most expensive to ever sell in the building.

Unit #502: 2 bedrooms, 2 baths, 2500 square feet

• Sold in July 1996 for $391,000
• Sold in September 2003 for $790,000
• Was listed in September 2008 for $1.399 million
• Reduced
• Sold in July 2009 for $1.125 million
• Assessments of $680 a month
• Taxes of $10,234
• 2 car parking included
• Sudler Sotheby’s had the listing.

Before there were townhouses there were rowhouses like this 3-bedroom rowhouse at 2408 N. Burling in Lincoln Park.

It has vintage features such as stained glass and built-ins. The rowhouse has space pac cooling.

The only thing it is missing is parking.  It’s only available for lease in the neighborhood.

Is lack of deeded parking hurting the sale of this property?

It has been reduced and is now listed for $60,000 under the 2006 purchase price.

Emily Smart at Coldwell Banker has the listing. See the pictures here.

2408 N. Burling: 3 bedrooms, 2.5 baths, no square footage listed

• Sold in October 2006 for $835,000
• Originally listed in May 2009 for $849,000
• Reduced
• Currently listed at $775,000
• Leased parking
• Taxes of $8226
• Space pac cooling
• Bedroom #1: 17×13
• Bedroom #2: 11×11
• Bedroom #3: 11×10
• Living room: 13×12
• Kitchen: 12×12
• Family room: 20×16
• Dining room: 14×13

This brick and timber authentic loft at 835 N. Wood in the Ukranian Village is technically a 2-bedroom but walls were taken down to make one large 24×15 bedroom.

The rest of the top floor loft is equally as large with 12-foot ceilings and what looks to be a private roof top deck with views of the downtown.

How big do you like your lofts?

Kim Kerbis at @Properties has the listing. See the listing, the pictures and a virtual tour here.

Unit #404: 2 bedrooms (converted into 1-bedroom), 1.5 baths, 1750 square feet

• Sold in April 1992 for $172,000
• Originally listed in May 2009 for $525,000
• Reduced
• Currently listed for $475,000
• Assessments of $304 a month
• Taxes of $3636
• Central Air
• Washer/Dryer in the unit
• Living room: 25×21
• Kitchen: 20×16
• Dining room: 12×10
• Deck: 21×15

The June sales numbers are out from the Illinois Association of Realtors.

There wasn’t much change in the story from the previous months except that the year-over-year decline in sales was lower than we’ve seen the last few months. Median price continued to decline year-over-year.

In the city of Chicago, June total home sales (single-family and condominiums) were up 27.2 percent to 1,982 sales compared to May 2009 sales of 1,558; sales were down 13.1 percent from 2,282 homes sold in June 2008.

The city of Chicago median price increased 7.7 percent to $242,275 in June compared to $225,000 in May 2009; it was down 21.8 percent from $309,945 a year ago in June 2008.

“The trend in single-family home sales in the city reflects steady activity, but it is clear from the pricing we are seeing distressed property sales continuing to lead the market,” said David Hanna, president of the Chicago Association of REALTORS®. “Too many roadblocks are still the issue for the buyers who are ready and willing to take advantage of low rates and abundant inventory. Housing cannot lead the economic recovery with the current constraints on the entire lending process in place.”

Single family home sales are stronger than condo sales which isn’t surprising given the tighter lending requirements that have been put in place for the condominium market.

“Notably, the pendulum has swung from condo to single-family home sales which have rebounded to 2008 levels. In fact, in the Chicagoland PMSA single-family home sales this past June were up 0.7 percent from a year ago and up 21.3 percent in the city of Chicago,” said REALTOR® Pat Callan, president of the Illinois Association of REALTORS®.

“Buyers are beginning to realize that this combination of favorable home prices, historic low mortgage interest rates and the first-time homebuyer tax credit incentive may not be around next year.”

Callan noted that Illinois REALTORS® continue to urge first-time buyers to be under contract by the end of September to ensure a closing before the Dec. 1 tax credit deadline.

Illinois Homebuyers Take Advantage of Favorable Conditions in June; Sales Up 20.8 Percent from May, Median Price Up 6.6 Percent [Illinois Association of Realtors, Press Release, July 23, 2009]

There are a bunch of 1960s and 1970s high rises that line Lake Shore Drive on the north side of the city.

This 2-building complex at 3600 N. Lake Shore Drive is one of them. Built in 1960, it has 640 units.

It’s one of those full-amenity buildings with door staff, exercise room and even a hair salon.

One of the cheapest 1-bedroom units in the building, Unit #618, has been on the market since January 2009.

It appears to have some views of Lake Shore Drive and the lake. The listing says it has new carpet in the living room and bedroom.

The unit is also listed for under the 2002 purchase price.

Is this condo a good starter home for a first-time buyer with the $8,000 tax credit?

James Adinamis at JDA Realty has the listing. See the pictures here.

Unit #618: 1 bedroom, 1 bath, no square footage listed

• Sold in June 1993 for $52,000
• Sold in September 2002 for $162,000
• Originally listed in January 2009 for $159,900
• Currently listed for $159,900
• Assessments of $463 a month
• Parking is leased for $125-$130 a month
• Taxes of $2237
• No central air
• No in-unit washer/dryer
• Bedroom: 16×12
• Living room: 18×16
• Kitchen: 10×8