Crib Chatter

Built in 1896 but extensively renovated, 1339 W. Webster in Lincoln Park is a unique oasis in the city.

Surrounded by a masonry perimeter fence, it has a 40×40 courtyard not to mention a 10,000 square foot house with 6 bedrooms.

And if you need more land, the listing says an adjacent lot is also available for purchase.

Richard John Anderson at Baird & Warner has the listing. See more pictures and a guided tour here.

1339 W. Webster: 6 bedrooms, 3 baths, 2 half baths, 10,143 square feet, 2 car garage

• Sold in November 1995 for $635,000
• Before you get all up in arms about appreciation, it was completely professionally renovated
• Originally listed in October 2008 for $4.2 million
• Currently still listed for $4.2 million
• Taxes of $13,183
• Central Air

We last chattered about this 1-bedroom unit in Avenue East, the newer construction high rise at 160 E. Illinois in Streeterville/Mag Mile, in April 2008.

Back then, it had been reduced $110,100 from its prior sales price.

See that chatter (and some pictures of the model unit in the building) here.

Flash forward 15 months and a tipster tells me that Unit #23C just closed.

Total amount of the reductions from the original list price: $280,000.

Completed in 2007, the developer is still trying to sell units in the 133-unit building. Several have apparently sold in recent weeks.

Will price cuts finally move the remaining units?

Unit #23C: 1 bedroom, 1 bath, 907 square feet

• I couldn’t find an original sales price- I believe this was a developer unit
• Was listed in January 2008 for $590,000 (parking available for $50k)
• Was listed in April 2008 for $479,900 (plus parking)
• Sold in July 2009 for $360,000 (included the parking) 
• Assessment of $399 a month
• Taxes are “new”

Last winter, we chattered about this duplex down at 2057 N. Seminary in Lincoln Park that had been on the market for 16 months and was listed below the 2005 purchase price.

See our prior chatter and more pictures here.

It closed in March 2009 for $59,500 under the 2005 purchase price.

The 3-bedroom unit had central air, a washer dryer but no parking.

Unit #1: 3 bedrooms, 2 baths, 1800 square feet, duplex down

• Sold in April 1998 for $194,000
• Sold in February 2005 for $414,250
• Originally listed in July 2007 for $464,900
• Reduced numerous times
• Listed at $399,900 in October 2008
• Reduced in October 2008 to $374,900
• Was listed in January 2009 at $374,900
• Sold in March 2009 for $355,000
• Assessments of $180 a month
• Taxes of $3400
• Central Air
• W/D
• No parking
• Bob Safranksi at Saffron Realty had the listing.

Many people don’t like the maintenance and upkeep required of a single family home. For them, a large full-floor condo is the solution.

This 3-bedroom renovated unit at 706 W. Junior Terrace in Uptown has all the bells and whistles.

At 2800 square feet, the kitchen has been completed gutted and now sports Wolf and SubZero appliances and a wine fridge.

The master bathroom has a frameless spa shower.

Parking is available and the unit has central air.

Harry Maisel and Joanne Nemerovski at Prudential Preferred have the listing. See the pictures and a virtual tour here.

Unit #3: 3 bedrooms, 3 baths, 2800 square feet

• Originally listed in January 2008 for $825,000
• Reduced numerous times
• Re-listed in June 2009 for $649,999 (2 parking spaces available for $25k each)
• OR you can rent it for $3750 a month
• Assessments of $275 a month
• Taxes are “new”
• Central Air
• Unit #2 in the building sold in February 2008 for $785,000

Matt Garrison from the Matt Garrison Group at Coldwell Banker was on CNBC yesterday discussing the million dollar market in Chicago.

According to Matt (and the other guest who was discussing the Seattle market), luxury homes have come way down in price.

“$1.4 or $1.5 million in a lot of neighborhoods …. have been hit hard …” he said.

If you didn’t see it, it’s worth watching here.

This vintage 4-flat building at 6337 N. Rockwell in the West Ridge neighborhood was built at the end of one of Chicago’s big real estate booms: in 1929.

Three of the units are huge 3 bedroom/2 bath units with 2000 square feet. The listing says the 4th unit is a legal 2 bedroom/1.5 bath unit with just 850 square feet.

The bigger units have vintage character with hardwood floors and fireplaces.

The listing says the units have new electric, plumbing and the building was recently tuckpointed.

It also has a 3-car garage.

Here are the rental rates given for the units:

• Unit #1: $1400
• Unit #2: $1350
• Unit #3: 1350
• Unit #4 (smaller unit): $850

Can an investor make this building work?

Mirela Birsan at Century 21 Hometown has the listing. See the pictures here.

6337 N. Rockwell: 4-unit multi-unit building, 3 car garage

• Sold in April 1989 for $240,000
• Sold in June 1994 for $295,000
• Sold in September 2002 for $560,000
• Originally listed in January 2009 for $639,900
• Reduced
• Currently listed for $599,900
• Taxes of $8677
• No C/A
• No Washer/Dryers in the unit

The townhouses in the Dearborn Park II development, at 1352 S. State, were built before the South Loop was considered trendy.

This 2-bedroom doesn’t skimp on square footage. It boasts 2000 square feet with a 1-car garage and room for another car out front.

Built in 1991, it has skylights, a fireplace and a side-by-side washer/dryer.

It’s also in an outstanding location to now enjoy all that the South Loop has become as it’s within walking distance of restaurants, the supermarket and the soon-to-be opening movie theater (and someday- shops) on Roosevelt Road in the Roosevelt Collection.

Fred Scovell at Rubloff has the listing. See the pictures and the virtual tour here.

See the property’s website here.

1352 S. State: 2 bedrooms, 2.5 baths, 2000 square feet, 1 car parking

• I couldn’t find an original sales price but it looks like there has only been 1 owner since the early 1990s
• Originally listed in April 2009 for $539,000
• Still listed at $539,000
• Assessments of $65 a month
• Taxes of $5080
• Central Air
• Third parking spot available for $10k

We chattered about this renovated vintage unit at 522 W. Briar in East Lakeview several times.

See our prior chatter in November 2008 with the pictures here.

After more than 2-years of being on (and off) the market, the unit finally sold.

It had an upscale kitchen with Wolf and Viking appliances and new custom lighting. The unit also had central air but no deeded parking was available.

Some prior guesses on sales price. Before it sold, it was last listed for $550,000. Its 2003 sales price was $276,000.

1. “It is NOT worth more than it was in 2003, and that’s the price I’d give.”
2. $475,000
3. “something more than 2003” price
4. $425-440k
5. “This place likely needs to be in the low 5s, upper 4s with perhaps one-year of pre-paid parking thrown in.”
6. “I’m not going to pick a selling price on this one….for a unit like this there’s always a greater fool, a greater FB, who will come along and overpay.”

The unit sold for $540,000– or $10,000 under the last list price.

Unit #3: 3 bedrooms, 2 baths, no square footage given

• Sold in August 2003 for $276,000
• Sold in May 2005 for $385,000
• Originally listed in April 2007 for $599,000
• Canceled in June 2007
• Re-listed in June 2007 for $624,900
• Canceled in December 2007
• Re-listed in February 2008 for $599,999
• Was still listed in May 2008 for $599,999 (no parking)
• Reduced again
• Was listed in November 2008 for $569,000
• Reduced again
• Was listed in December 2008 for $550,000
• Sold in June 2009 for $540,000
• Assessments of $516 a month
• Taxes of $3569
• Randy McGhee at Koenig & Strey had the listing.

This 2-bedroom brick loft at the Union Lofts at 3500 S. Sangamon in Bridgeport recently went under contract.

It is a short sale and had been reduced by about $34,000 since April 2009.

It is a corner unit and has 11 foot high ceilings. It looks like the parking is included in the price.

It’s also listed for $47,593 under its 2004 purchase price.

Was this a deal?

Laura Stanek at Koenig & Strey has the listing. See more pictures here.

Unit #409: 2 bedrooms, 1 baths, 1148 square feet

• Sold in April 2004 for $268,000
• Sold in September 2006 for $277,000
• Originally listed in April 2009 for $254,900
• Reduced
• Short Sale
• Currently listed for $220,407 (parking included)
• Under contract
• Assessments of $423 a month (includes heat,  A/C, water, gas)
• Taxes of $3636
• Central Air
• Washer/Dryer in the unit

We last chattered about this cute 1890s workman’s cottage at 3554 S. Union in Bridgeport in January 2009.

See our prior chatter and pictures here.

It’s been on the market since October 2008 and has now been reduced by $89,000.

Is this now an affordable starter home?

Joe Kunkel at Baird and Warner still has the listing. See more pictures here.

3554 S. Union: 2 bedrooms, 1 bath, 2 car garage, no square footage listed

• Sold in 1999 but I couldn’t find a sales price
• Originally listed in October 2008 for $359,000
• Reduced
• Was listed in January 2009 for $329,000
• Reduced
• Currently listed for $270,000 
• Taxes are $2395
• Central Air
• Bedroom #1: 15×10
• Bedroom #2: 11×10
• Living room: 15×11
• Kitchen: 16×11
• Dining room: 13×7
• Other: 7×6