Crib Chatter

There was much chatter in March about the 4-bedroom vintage rowhouse at 1469 W. Foster in Andersonville that went under contract within 2 days of being listed.

See our  prior chatter and pictures here.

The property got multiple offers and has now closed for $25,500 over the listing price.

Was this still a deal?

Mario Greco at Rubloff had the listing.

1469 W. Foster: 4 bedrooms, 2 baths, 2 car parking, no square footage listed

• Sold in January 1990 for $200,000
• Was listed in March 2008 for $324,500
• Multiple offers
• Sold for $350,000
• Taxes of $4,087
• Central Air
• Decorative fireplace
• Bedroom #1: 16×10
• Bedroom #2: 13×8
• Bedroom #3: 12×9
• Bedroom #4: 9×7

950 W. Monroe in the West Loop was built in 2005 as part of a wave of massive building in the West Loop that has added hundreds of new condo units to the area.

If you’re now selling, how do you stand out from the pack?

This 1-bedroom unit has a unique wall of built-ins that are not commonly seen in 2005-era construction (in 1-bedroom condos, that is.)

It is also listed for $5100 under its 2005 purchase price.

In addition to the built-ins, the unit has 12 foot ceilings, a 12×6 balcony and a kitchen with 42-inch cherry cabinets and granite counters.

Scott Sasse at Quest Realty Group has the listing. See the pictures here.

Unit #612: 1 bedroom, 1 bath, no square footage listed

• Sold in September 2005 for $295,000
• Currently listed for $259,900 (plus $30,000 for parking)
• Assessments of $329 a month
• Taxes of $2815
• Central Air
• W/D in the unit
• Bedroom: 12×11
• Living room: 21×17
• Kitchen: 9×9

This 2-bedroom duplex unit just came on the market at 350 W. Belden in Lincoln Park.

It is bank-owned.

It is listed for $148,100 less than the 2005 purchase price.

The listing says it needs some “TLC” and there are no pictures of the kitchen. However, the listing describes the kitchen as having cherry cabinets and granite.  So, the unit appears to at least have a kitchen. 

There’s also a spiral staircase to the second level.

Seems like a 2-bedroom unit for a 1-bedroom price.

Is this a steal?

Arthur Cirignani at Chicago Realty Partners, Ltd. has the listing. See the pictures here.

Unit #607: 2 bedrooms, 2 baths, no square footage listed

• Sold in May 2005 for $438,000
• Bank owned as of January 2009
• Currently listed for $289,900 (parking included)
• Assessments of $436 a month
• Taxes of $5478
• Central Air
• The listing doesn’t say anything about an in-unit washer/dryer
• Bedroom #1: 11×13
• Bedroom #2: 13×18

We’ve chattered about various of the developer’s sales incentives at 170 W. Polk, or Printers Corner, in Printers Row in the South Loop. The 88-unit building started closings in 2007.

The developer tried free parking a year ago and then in the fall a special financing plan (plus the free parking.)

Now, the developer is simply slashing prices in a “developer closeout” (and, of course, giving away free parking.)

Unit #1208, a 2-bedroom/2 bath, just recently came on the market at the new developer pricing.

It’s definitely cheaper than some of the prior sales.

See our prior chatter here (with pictures) where 2-bedroom Unit #808 sold for $345,000 (including the parking) in November 2007.

Is this a bargain now?

The Tribune reports that nine 2-bedroom units remain for sale from the developer and that 14-units sold so far in the building this year.

Winthrop Marketing and Sales LLC still has the listings. See a few pictures here.

Unit #1208: 2 bedrooms, 2 baths, 1145 square feet, northeast facing

• This size unit was previously for sale in the upper $300,000s
• Currently listed at $329,000 (parking included)
• Assessments of $391 a month
• Taxes are “new”
• Central Air
• W/D in the unit

We’ve chattered about these “loft” styled large studios at 211 E. Ohio, the Grand Ohio, in Streeterville before.

This one is 650 square feet, has 16 foot ceilings and the in-unit washer/dryer.

There are only 15 of these “loft” units in the building and the floor has its own separate elevator.

Is this a good in-town option?

Sharon Burge at Prudential Preferred has the listing. See more pictures here.

Unit #313: studio, 650 square feet

• Sold in August 2000 for $151,500
• Sold in October 2004 for $219,000
• Sold in March 2007 for $258,000
• Originally listed in December 2008 for $255,000 (parking is $35,000 extra)
• Reduced
• Currently listed for $242,500 (parking is $35,000 extra)
• Assessments of $378 a month
• Taxes of $2508
• Central Air
• In-unit Washer/Dryer
• 18×5 balcony

As a commenter pointed out recently, the 2-bedroom vintage unit at 507 W. Aldine in East Lakeview has reduced again.

See our prior chatter here.

It is now listed $4,000 under the 2007 purchase price.

It has nearly all the bells and whistles with an in-unit w/d and deeded parking. It doesn’t have central air, however.

Brad Lippitz at Brad Lippitz Real Estate Group still has the listing. See more 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
• Currently listed for $375,000 (includes the parking)
• 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

When we last chattered about this studio loft at 540 N. Lake Shore Drive in Streeterville in February 2009, it had just come on the market.

The listing said it had sold in only one day in 2005 and that it was “super rare” and “priced to sell.”

Some of you thought it might make a good “starter” condo for someone right out of college.

See our prior chatter here.

The studio is still listed and has been reduced $8900. It is now listed under the 2005 purchase price.

The listing now also takes a different marketing approach. It is no longer “super rare” but, instead, is in a “solid estab. bldg”.  It’s also a “great in-town too”. 

And it’s, apparently, “FHA Ok”.

Curt Ratcliff at @Properties has the listing. See all the pictures here.

Unit #714: studio, no square footage listed

• Sold in December 1993 for $74,000
• Sold in January 2003 for $139,000
• Sold in November 2005 for $200,000
• Was listed in February 2009 for $203,900
• Reduced
• Currently listed for $195,000
• Assessments of $240 a month
• Taxes of $1810
• Central Air
• Lofted sleeping area that is 5×9
• Parking available as rental in the building
• No washer/dryer in the unit (but can be added)
• Living space: 20×18
• Kitchen: 8×8

We chattered about this 3-bedroom vintage unit at 2127 N. Sheffield in Lincoln Park over a year ago- in March 2008.

At that time, it was being marketed more as an investment-type unit for DePaul students due to the three bedrooms.

See our prior chatter and pictures here.

It is now back on the market and the kitchen has been totally renovated.

BEFORE:

AFTER:

Will a new chic kitchen with stainless steel appliances sell this unit?

It has central air, parking, and a dining room (the fireplace is only decorative.)

Amber Wilson at Baird and Warner now has the listing. See all of the pictures here.

Or you can check it out in person at the open house this weekend, May 3, from 12-2 pm.

Unit #3: 3 bedrooms, 1 bath, 1400 square feet

• Sold in June 2002 for $288,000
• Sold in August 2004 for $325,000
• Was listed in March 2008 for $369,900
• Withdrawn
• Re-listed in April 2009 for $369,900
• Reduced
• Currently listed for $349,900
• Assessments of $200 a month
• Taxes of $4616
• Central Air
• Parking included
• Doesn’t look like there is an in-unit w/d
• Bedroom #1: 13×11
• Bedroom #2: 12×10
• Bedroom #3: 10×8

The developer, and other sellers, are still trying to sell units at Avenue East, the 2007 construction high rise at 160 E. Illinois in Streeterville. The building is not even half a block off of the Mag Mile.

Three units have sold in 2009 (according to public records.)

This 2-bedroom unit recently came on the market and is now listed $52,400 under the 2007 purchase price.

The listing says it is “priced to sell.”

It is only 1100 square feet but it has all the new construction bells and whistles: hardwood floors, dark kitchen cabinets, granite and stainless steel.

Is this a deal at this price and location?

Tom Kelley at Prudential Preferred has the listing. See the pictures here.

Unit #1107: 2 bedrooms, 2 baths, 1100 square feet

• Sold in September 2007 for $542,400
• Originally listed in March 2009 for $459,900 (plus $35,000 for parking)
• Reduced
• Currently listed for $445,000 (plus $45,000 for parking)
• Assessments of $574 a month
• Taxes are “new”
• Bedroom #1: 18×12
• Bedroom #2: 12×10
• Listing says sold “as-is”

Normally, I leave the new construction chatter to YoChicago, which has the people and resources to cover all of the new construction buildings going up around the city.

However, I’ve been getting a lot of e-mails about The Lofts at 1800, the new loft development at 1800 W. Grace in Lakeview.

This is a conversion of cap and gown manufacturer E.R. Moore’s building. It’s a rare authentic loft conversion in Lakeview.

Apparently, The Lofts at 1800 is one of the best selling developments in the the nation.

From the developer’s website:

“The Lofts at 1800 is proud to announce that they have had among the most buyers in any new construction development in the nation. With a VIP Week that resulted in 51 groups of interested buyers and 6 reservations, The Lofts at 1800 is leading the current nationwide real estate market in sales.”

Prices range from the following:

• 1 bedrooms from $254,500
• 2 bedrooms from $364,500
• 3 bedrooms from $759,900

A model is available to tour by appointment only.

Is the lure of the “new” authentic loft strong enough to sustain sales in this building?

See pictures of the units and more information on the website [The Lofts at 1800]