Crib Chatter

We’ve chattered a lot about condos on North Halsted in Lincoln Park, but what about the condo units that have sprung up on South Halsted during the same time period?

This 3-bedroom at 1421 S. Halsted in University Village recently came on the market.

The listing says it has 2 patios and lives like a single family home.

Eugene Fu at @Properties has the listing. See the pictures here.

Unit #1B: 3 bedrooms, 2 baths, 1400 square feet

• Sold in December 2006 for $373,900
• Originally listed in January 2009 for $409,000
• Reduced
• Currently listed for $399,000 (plus parking for $20k)
• Assessments of $330
• Taxes are “new”
• Central Air
• Bedroom #1: 14×14
• Bedroom #2: 9×11
• Bedroom #3: 10×11

Looking for a foreclosure deal?

This 5-bedroom new construction mansion at 1220 N. Damen in Wicker Park just came on the market. It is already bank-owned.

The listing says it has been reduced by $1 million from its original asking price.

Don’t be fooled by these beautiful pictures. A tipster tells me that the agent’s notes to the property describe it as having been “striped” and that it “needs bathrooms.” The bank is also offering a $20,000 credit.

If anyone sees it, please report in.

Jim Murrin at Jameson has the listing. See the listing and more pictures here.

1220 N. Damen: 5 bedrooms, 4.5 baths, 2 car garage, no square footage listed

• Sold in November 2004 for $415,000
• Originally listed for around $1.8 million in 2007-2008?
• Lis pendens in December 2007
• Bank owned as of February 2009
• Currently listed for $899,900
• Taxes of $7526

The Oakland Landmark District is located on the south side of the city, just north of Kenwood. Often also called Bronzeville, the Oakland neighborhood is close to the lake and still contains at least 50 historic structures.

This 1888 vintage 3-bedroom home at 4125 S. Berkeley is right in the middle of the historic district. It’s been renovated and is in “move-in condition.”

It’s also priced about 45% less than the 2007 sales price and is now bank-owned.

Is this single family home a deal?

Alex Sowa at Arc Realty has the listing. See the pictures here.

4125 S. Berkeley: 3 bedrooms, 2 baths, no square footage listed

• Sold in October 1988 for $2,350
• Sold in December 2002 for $74,297
• Sold in February 2007 for $489,000
• Lis pendens in October 2007
• Bank-owned in August 2008
• Originally listed in January 2009 for $281,000
• Reduced
• Currently listed for $265,900
• Taxes of $2888
• Central Air
• No parking
• Bedroom #1: 15×12
• Bedroom #2: 10×10
• Bedroom #3: 12×10

We last chattered about 2930 N. Sheridan in Lakeview in April 2008.

See our prior chatter and pictures here.

The 252-unit building is an apartment to condo conversion that launched in late 2007.

From what I can tell from public records the building stats are the following (out of 252 units):

• 135 sold
• 17 currently on the market

The developer is not listing all available units on the MLS.

In January 2007, the developer, Robert Kroupa, who purchased both 2930 N. Sheridan and 3033 N. Sheridan, had this to say to Crain’s about the market:

The slowdown in condo sales hasn’t been a problem for Mr. Kroupa in the trendy North Side neighborhood, he says, where his new units will be priced from about $220,000 to $290,000.

“I did a conversion in April last year that was 95% sold out in 10 days, and people were saying it was a bad market then,” says Mr. Kroupa, speaking on his cell phone while attending the Sundance festival in Park City, Utah. “Interest rates are low, gas prices are low and unemployment is down. There’s no reason for it to be slow.”

A 1-bedroom unit recently came on the market as a resale.

How difficult is it to sell a resale when the developer is still trying to sell dozens of units?

The city-wide sales slowdown appears to have hit this building as well. The last closing in the building was 3 months ago, in early December 2008.

From what I can tell, only 2 units have re-sold in the building.

Unit #808:

• Sold in September 2007 for $294,500
• Resold in November 2008 for $270,000
• (Don’t know if one or both transactions included a parking space)

Unit #308:

• Sold in June 2007 for $195,500
• Resold in November 2008 for $226,500
• (Also don’t know if one or both included a parking space)

Now we have Unit #1809 that has just come on the market. The listing says it has lake views, hardwood throughout and a larger, reconfigured bath.

@Properties has the listing. See the pictures here.

Unit #1809: 1 bedroom, 1 bath, no square footage given

• Sold in June 2008 for $247,000
• Currently listed for $300,000 (parking extra)
• Assessments of $380 a month
• Taxes are “new”
• W/D in the unit
• Window units

Developer buys two lakeview apartment buildings [Crain’s Chicago Business, Jan 26, 2007]

If you’ve ever walked down Clark Street in Lincoln Park, you inevitably passed by the Lincoln Park Commons building, or, better known as “the Best Buy building” at Drummond and Clark.

The actual address for the building is 600 W. Drummond. The units were built in 2003-2004 with upgraded finishes such as all marble baths.

This 2-bedroom corner unit is generously sized at 1314 square feet plus a large terrace. Parking is available.

Is this a good price for the area? Shops, restaurants and transportation await you on the street below.

Karin Magnuson at Coldwell Banker has the listing. See more pictures here.

Unit #319: 2 bedrooms, 2 baths, 1314 square feet plus a terrace

• Sold in June 2004 for $410,000 (looks like parking was included)
• Currently listed for $449,000 plus $35,000 for parking
• Assessments of $372 a month
• Taxes of $4666
• Central Air
• Marble baths

We last chattered about this 1873 completely renovated Folk Victorian at 240 W. Willow in Old Town in October 2008.

The listing said it was 95% renovated and had viking appliances- but it didn’t have parking.

See our prior chatter and pictures here.

It is no longer on the market. A tipster tells me that it never sold.

But it did apparently rent for $3500 a month.

What’s that rent versus own calculation like?

Here’s its history again:

240 W. Willow: 3 bedrooms, 2.5 baths, no square footage listed

• Was listed in October 2008 for $1.199 million
• Taxes are $8,192
• Central Air
• No parking

Direct views of the lake, even in Streeterville, are cheaper than you may think.

This 500-square foot studio recently came on the market in 900 N. Lake Shore Drive, one of Mies Van Der Rohe’s classic 1955 modern high-rises along the lake in Streeterville.

The listing says it has the original kitchen cabinets, gray countertop and gray bathroom.

Check out the black floors.

The listing also says it “shows like a boutique hotel suite.”

Tracy Dillard at Koenig & Strey has the listing. See the pictures here.

Unit #1614: studio, 500 square feet

• Sold in February 2005 for $180,000
• Currently listed for $245,000 (parking available for rent)
• Assessments of $267 a month
• Taxes of $1932
• Central Air
• No Washer/Dryer in the unit
• Direct lake views

I get asked a lot to chatter about 2-bedroom condo units that are “affordable” in trendy neighborhoods like East Lakeview.

A 1000-square foot vintage 2-bedroom just came on the market at 636 W. Waveland price at $250,000.

Is this a steal at this location?

The corner unit has a wood burning fireplace, an in-unit washer/dryer and parking is available for only $15,000 extra. It has no central air- but has window units.

Brian Grossman at @Properties has the listing. See the pictures here.

Unit #2A: 2 bedrooms, 1 bath, 1000 square feet

• Sold in April 1995 for $94,000
• Sold in March 2000 for $182,000
• Sold in February 2001 for $205,000
• Sold in March 2003 for $222,000
• Currently listed for $250,000 (plus $15k for parking)
• Assessment of $430 a month (includes cable, heat and water)
• Taxes of $3353
• Extra storage and bike room
• Bedroom #1: 12×11
• Bedrooms #2: 12×10

111 W. Maple in the Gold Coast was built in 1991 and converted into condos in the late 1990s.

Some units have washer/dryers in the unit, others do not. This 2-bedroom has the washer/dryer and parking is available.

Do you have the vision to see beyond the 1990s interior?

Both bedrooms are decently sized and have windows.

Trilla Realty has the listing. See the pictures here.

Unit #1303: 2 bedrooms, 2 baths, no square footage listed

• Sold in September 1999 for $262,000
• Sold in May 2005 for $304,000
• Lis pendens filed in June 2008
• Currently listed for $295,000 plus $25,000 for parking
• Listing says seller will pay the special assessment
• Assessments of $496 a month
• Taxes of $3838
• Central Air
• In-unit W/D
• Bedroom #1: 11×17
• Bedroom #2: 11×16

We chattered about an $800,000 penthouse duplex on North Halsted recently.

But we’ve chattered about North Halsted duplex penthouses before, specifically, this 2-bedroom unit at 1862 N. Halsted in Lincoln Park.

See our original September 2008 chatter and pictures here.

3 months after our last chatter in November 2008, it has been reduced again, by another $20,000.

The listing also now says that the “sellers relocation out of state must sell!”.

Isabel Mikell at Koenig & Strey still has the listing. See more pictures here.

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

• Sold in April 1993 for $190,000
• Sold in November 1998 for $325,000
• Sold in November 2002 for $424,500
• Sold in April 2006 for $476,000
• Was listed in September 2008 for $499,000 (included parking)
• Reduced
• Was listed in November 2008 for $469,000 (included the parking)
• Reduced
• Currently listed for $449,000 (includes the parking)
• Assessments of $242 a month
• Taxes of $6,098
• Central air