Crib Chatter

As we’ve chattered about several times, stresses have found their way even into the most prestigious buildings in the city.

This 3-bedroom unit just came on the market being sold “as-is” in The Fordham, at 25 E. Superior, one of the more prestigious condo buildings in the River North/Cathedral District area.

It is listed $35,100 under the 2005 purchase price.

Is this even much of a steal?

Helen Oliveri at Keller Williams Realty Partners has the listing. See the pictures here.

Unit #3204: 3 bedrooms, 3 baths, 1700+ square feet, 2 car parking (included in price)

• Sold in March 2005 for $900,000
• Currently listed as “as-is” for $864,900
• Assessments of $1208 a month
• Taxes of $11,609
• Central Air
• Washer/Dryer in the unit

This brick Italianate 5-bedroom single family home at 3945 N. Tripp in Old Irving Park was built in 1874.

Called the “Race House,” it is the only remaining structure belonging to the family that founded the village of Irving Park.

It was designated a historic landmark in 1988.

Read more about its history on the Chicago Landmark website.

The listing says the home has been restored to perfection. It has 4 fireplaces, stained glass and a 3000 bottle wine cellar.

It has also been reduced by $200,000 since it was listed in January 2009.

And if you don’t want to buy it, now you can rent it.

Anne Ralston at Koenig & Strey has the listing. See all the pictures here.

3945 N. Tripp: 5 bedrooms, 4 baths, 2 half baths, 5800 square feet, 2 car garage

• Sold in July 1993 for $169,000
• Sold in November 1997 for $285,000
• Sold in January 2002 for $639,500
• Originally listed in January 2009 for $1.199 million
• Reduced
• Currently listed at $999,000
• Taxes of $3855
• Or you can rent it for $4200 a month
• Central Air
• Skylights
• Library

This 1898 vintage 3-flat at 3510 N. Ashland in Southport appears to have many features that would make it attractive to investors.

It’s in a prime rental neighborhood, each unit has a renovated kitchen, a washer-dryer in the unit and central air and there is 3-car parking.

The building is also listed for $386,100 under the 2006 purchase price.

Is this a deal at this price?

David Piche at Re/Max Signature has the listing. See more pictures here.

3510 N. Ashland: 3-flat, 9 bedrooms, 4 baths, 3 car parking

• Sold in December 2003 for $470,000
• Sold in September 2006 for $1.1 million
• Bank owned in January 2009
• Originally listed in April 2009 for $713,900
• Currently still listed at $713,900
• Taxes of $10,144
• All utilities separate
• W/D in each unit
• Central Air

We originally chattered about this 2-bedroom vintage condo at 1952 N. Seminary in Lincoln Park in July 2008.

Read our prior chatter and see pictures here.

The penthouse unit was renovated and was being flipped. I asked in July, “will professional staging help sell this unit?”

Now, the listing says “BONUS: plasma TV and movie screen included!”

It has since been reduced by $57,100.

Deeneta Pope at 606 Development Group, Inc. has the listing.  See the pictures here. 

Unit #3: 2 bedrooms, 2 baths, dining room, no square footage listed

• Sold in June 2001 for $417,500
• Sold in October 2004 for $455,000
• Sold in August 2007 for $496,000
• Was listed in July 2008 for $597,000
• Listing cancelled late last year
• Re-listed in April 2009 for $565,000
• Reduced
• Currently listed at $539,900 (parking included)
• Assessments of $187 a month
• Taxes of $5950
• Central Air
• Bedroom #1: 17×12
• Bedroom #2: 12×8

We last checked in on River City, at 800 S. Wells, in Printers Row in the South Loop in July of 2008.

Back then, some foreclosures and short sales were selling, but the building was still among the top for foreclosures and short sales in the downtown.

See our prior chatter and pictures here.

But never fear if you think you missed your chance to get a deal in the building.

This bank owned 2-bedroom is currently on the market for 64% less than its 2005 purchase price. It’s been on the market since March.

It is also one of the non-renovated units so it has the original 1980s kitchens and baths as well as carpeted floors.

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

Unit #518: 2 bedrooms, 2.5 baths, no square footage listed

• Sold in August 2005 for $516,000
• Bank-owned as of July 2008
• Originally listed in March 2009 for $195,900
• Reduced
• Currently listed for $184,900
• Assessments of $924 a month (includes heat, AC, pool, doorman)
• Taxes of $6600
• Looks like leased parking
• Washer/Dryer in the unit
• No central air
• Bedroom #1: 20×13
• Bedroom #2: 13×12
• Living room: 21×18
• Kitchen: 9×8

This 6-bedroom luxury single family home built in 2004 at 1453 W. Henderson in Southport has two outdoor spaces including one with its own fire pit.

It also hosts 4 fireplaces including one that looks rather cozy in the master bedroom.

For those colder nights, the lower level family room also has radiant heated floors.

Jeff Lowe at Prudential Preferred has the listing. See more pictures here.

1453 W. Henderson: 6 bedrooms, 4.5 baths, 2 car garage, 5200 square feet

• Sold in March 2005 for $1.54 million
• Currently listed for $1.799 million
• Taxes are “new”
• Hardwood/Marble/Slate floors throughout
• Central Air

This 4-bedroom vintage duplex up at 850 W. Oakdale in Lakeview just came on the market for the first time in 27 years.

The listing admits it is “great space with lots of opportunity for updating.”

There are no cherry kitchen cabinets, granite or stainless steel appliances.

But there are built-ins in the dining room, a wood burning fireplace, skylights and tall ceilings.

It also has central air and parking but doesn’t say anything about in-unit washer/dryer.

The greystone is on a landmarked street.

Are buyers willing to put some blood, sweat and tears into vintage properties right now? Or must the renovation already be done?

Art Collazo at Koenig & Strey has the listing. See the pictures here.

Unit #3: 4 bedrooms, 2 baths, no square footage listed

• I couldn’t find a prior sales price (sold in 1982)
• Currently listed for $619,900 (parking included)
• Assessments of $400 a month
• Taxes of $2929
• Central Air
• The listing doesn’t mention laundry
• Bedroom #1: 22×11
• Bedroom #2: 10×8
• Bedroom #3: 12×8
• Bedroom #4: 14×8
• Living room: 32×11
• Dining room: 14×11
• Family room: 18×10
• Kitchen: 15×12
• Other: 10×8

The Manchester Lofts at 2035 W. Charleston in Bucktown is one of the old loft conversions- having been first converted in 1990. It’s only 18 units.

Because of its age, it means it likely has more “authentic” loft features than the units called “lofts” today. And it does.

This 2000 square foot unit has 14 foot high ceilings, brick walls, and a wood burning fireplace.

The listing says it was recently renovated and “reconstructed”.

Ro Lebedow at Koenig & Strey has the listing. See the pictures here.

Unit #203: 2 bedrooms, 2 baths, den, 2000 square feet

• Sold in January 1992 for $177,000
• Sold in January 1998 for $255,000
• Sold in August 2000 for $410,000
• Sold in July 2005 for $480,000
• Currently listed for $563,750
• Assessments of $364 a month
• Taxes of $7428
• No parking- leased only across the street
• Central Air

We’ve chattered about this “affordable” 2-bedroom condo at 4958 N. Troy in Albany Park several times before.

See our March 2009 chatter here.

It is finally under contract after being reduced $37,100 over the course of 8 months.

Here’s its history again:

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

• Sold in October 1997 for $134,000
• Sold in January 2002 for $172,500
• Relocation sale in October 2008 for $205,000
• Was listed in October 2008 for $212,000
• Several reductions
• Was listed in March 2009 for $184,900 (plus $12k for parking)
• Reduced again
• Currently listed for $174,900 (plus $12k for parking)
• Under contract
• Assessments of $255 a month
• Taxes of $2096
• Central Air
• In-Unit Laundry
• Deck
• Bedroom #1: 12×11
• Bedroom #2: 11×10
• Kate Mangan-Smith at Prudential OneSource Realty had the listing.

Should you rent or should you buy?

This 6-bedroom new construction mansion at 2461 N. Geneva Terrace in Lincoln Park is both for rent or for sale.

The house was custom built in 2007 with a limestone facade, custom kitchen and guest quarters.

Right now, I could only find a rental listing for the property, but at the bottom of that listing it says it is also for sale.

Maybe it’s time to pull out the New York Times rental/buying calculator to see how this mansion home fares?

Does it make sense for the rich to simply rent luxury properties?

Melina Michelin at Rubloff has the rental listing. See all of the pictures here (including interior pictures.)

2461 N. Geneva Terrace: 6 bedrooms, 5.5 baths, 4 car parking, 7800 square feet

• New construction in 2007
• Currently available to rent for $18,000 a month
• OR
• You can purchase it for $6.25 million
• According to public records, a lis pendens was filed on the property in March 2009
• Central Air
• Two wood burning fireplaces