Crib Chatter

This 2-bedroom in Cirrus at 211 N. Harbor in Lakeshore East came on the market in January 2022.

Built in 2022, Cirrus is the final luxury condo building in the Lakeshore East planned community.

It has 350 units ranging from 1 bedrooms to 4 bedrooms.

It’s a full amenity building with 48,000 square feet of “resort-style wellness” and sits next to the newly opened Cascade Park.

From the listing:

The amenity space on the 41st floor has a spectacular terrace for outdoor entertaining opportunities including the lawn, fire pit, grilling station with adjacent alfresco dining, and rooftop seating. Indoor entertaining includes a chef’s table, demonstration kitchen, and a private dining room/wine lounge, all while basking in one-of-a-kind views of Lake Michigan, DuSable Harbor, and of course, fireworks at Navy Pier.

Other outdoor amenities include a pool with pool lounge, firepit, and grilling stations overlooking Lake Michigan. A wide variety of indoor active amenities staffed by a wellness concierge include a wet lounge, indoor lap pool with hydrotherapy pool, state of the art fitness center, strength studio, motion studio, and locker rooms with steam rooms.

Relax in the planted winter garden conservatory overlooking Cascade Park or utilize the massage room or salon. Kids enjoy their own splash pad and kid’s club. There are several work from home spaces, both private and conference rooms available, along with multiple lounge areas.

Work on your hobbies in the maker space or play music in the jam room equipped with a baby grand piano, electric drums and string instruments. Watch a movie or the big game in the screening room or challenge friends to billiards, shuffleboard, or simulated sports options available in the sports simulator room.

Cirrus is a pet friendly building with indoor dog run and pet spa along with the outdoor Bark Park. There is also a bike room with bike wash that has easy access to the new bike/pedestrian trails out to the lakefront.

This 2-bedroom faces the Lake and has views of the Lake and Navy Pier.

It has wide plank white oak floors in the main living areas.

The kitchen has Snaidero cabinets, Dornbracht fixtures, quartz counter tops, an island, Gaggenau gas cooktop and integrated cabinet panel Bosch dishwasher.

This is a split floor plan with a foyer.

The units have washer/dryer in the units, air conditioning and parking is available for extra.

There’s no private balcony. There are several floor plans that do have a balcony, however. But not all units have one.

Listed at $1.19 million for 1255 square feet, are the new downtown condos able to compete with the new luxury apartments?

Christine Lutz at Wolf Residential has the listing. See the pictures here.

You can also check out the floor plans on the Cirrus website here.

Unit #1404: 2 bedrooms, 2 baths, 1255 square feet

• New construction
• Listed in January 2022 for $1.19 million
• Parking is extra
• Assessments of $942 a month (includes heat, a/c, gas, doorman, exercise room, pool, exterior maintenance, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• East facing
• Bedroom #1: 14×12
• Bedroom #2: 10×15
• Living/dining room combo: 17×16
• Kitchen: 15×11

The Illinois Association of Realtors is out with the December 2021 market update.

As we already know from Gary’s posts on this blog, it was another strong month.

From the IAR:

In the city of Chicago, home sales (single-family and condominiums) in December 2021 totaled 2,392 homes sold, up 5.5 percent from December 2020 sales of 2,267 homes. Year-end 2021 home sales totaled 33,195, up 27.4 percent from 26,063 homes sold in 2020.

The median price of a home in Chicago in December 2021 was $315,000, up 3.3 percent compared to December 2020 when it was $305,000. The year-end 2021 median price reached $335,000, up 6.2 percent from $315,500 in 2020.

In Chicago, it was the strongest December since 2005 when investors were buying hundreds of new construction condos.

• December 2004: 3719 sales and median price of $267,000
• December 2005: 2847 sales and median price of $283,000
• December 2006: 2241 sales and median price of $279,000
• December 2007: 1629 sales and median price of $287,000
• December 2008: 1263 sales and median price of $235,000
• December 2009: 1820 sales and median price of $208,000 (34% short/REO sales)
• December 2010: 1475 sales and median price of $166,000 (43% short/REO sales)
• December 2011: 1536 sales and median price of $156,000 (44% short/REO sales)
• December 2012: 1806 sales and median price of $185,000 (39.7% short/REO sales- according to Gary Lucido’s data)
• December 2013: 2137 sales and median price of $210,000
• December 2014: 2020 sales and median price of $228,000
• December 2015: 2077 sales and median price of $242,000
• December 2016: 1974 sales and median price of $260,000
• December 2017: 2058 sales and median price of $265,500
• December 2018: 1708 sales and median price of $251,500
• December 2019: 1892 sales and median price of $276,000
• December 2020: 2267 sales and median price of $305,000
• December 2021: 2392 sales and median price of $315,000

“Despite a continued decline in inventory in December, caused by market seasonality and inventory shortages, we still saw positive momentum in the Chicago market,” Antje Gehrken, president of the Chicago Association of REALTORS® and president and designated managing broker of A.R.E. Partners, said. “Condo sales continue to shine throughout the city, which is a great indicator for the market moving into the new year.”

Condo sales were up 7% year-over-year to 1332 sales, while single family homes rose 3.7% to 1060.

As you know, condo sales have been driving the monthly sales surge all fall but are now coming up against tougher year-over-year comps which will be hard to top in 2022.

Chicago inventory plunged 31.4% to 5,662 homes from 8254 homes last December.

Statewide, inventory also plunged 34.4% to 20,546 from 31,326 homes last year.

Days on the market remained at 38 days in Chicago but statewide it fell to 33 days from 42 a year ago.

For the full year, in Chicago days on the market fell 7.7% to 36 from 39 days in 2020.

“Prices increased again while sales have continued to decline throughout Illinois,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate (SHDRE) at the University of Illinois at Chicago College of Business Administration. “However, the SHDRE forecast now indicates an increase in the number of sales over the next three months. Foreclosures are down significantly since the same time last year. Inflation continues to be a concern for consumers, particularly among higher-income households.”

Average 30-year fixed mortgage rates rose to 3.1% from 3.07% in November. They were just 2.68% in December 2020.

The mortgage rates are expected to continue to rise in 2022.

Which will slow the Chicago housing market this year: record low inventory or higher mortgage rates?

Annual Illinois home sales and median prices increased in 2021 [Illinois Association of Realtors, Press Release, by Bill Kozar, January 20, 2022]

This 1-bedroom in The Peterson Lofts at 523 S. Plymouth in Printers Row came on the market in November 2021.

The Peterson Lofts were built in 1911 and converted to loft condos in 1995.

The building has 49 units and some deeded heated garage spaces in the building.

It has an on-site gym and a common roof deck. There is no door staff.

This loft has 12 foot concrete ceilings, exposed black ductwork, and floor to ceiling industrial windows that face east.

The listing says the loft has a “newly updated” kitchen and bath.

The kitchen has white cabinets, granite counter tops, a breakfast bar and “newer” stainless steel appliances.

The loft has a stone wall gas fireplace and oak hardwood floors in the main living area.

The bedroom doesn’t appear to have a window and has carpet and 3/4th walls.

This unit has the features buyers look for including central air, a new Bosch washer/dryer and “preferred deeded garage parking on level 1 for $35,000 extra.”

523 S. Plymouth is one of the rare Printers Row loft buildings to have heated garage parking in the building.

This loft is near the shops and restaurants of Printers Row, near Millennial and Grant Park, and will be near the new built-out development along the River.

Listed at $295,000, including the parking, that is $40,000 above the 2017 purchase price.

Does the parking give this loft the edge?

Stratos Rounis at SR Realty Group has the listing. See the pictures here.

Unit #703: 1 bedroom, 1 bath, 950 square feet, loft

• Sold in July 1995 for $131,000 (included the parking)
• Sold in April 2005 for $235,000 (included the parking)
• Sold in September 2016 for $245,000 (included the parking)
• Sold in September 2017 for $255,000 (included the parking)
• Originally listed in November 2021 for $260,000 (plus $35,000 for parking)
• Currently still listed at $260,000 (plus $35,000 for parking)
• Assessments of $562 a month (includes cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $4010
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom: 13×12
• Living/dining combo: 17×17
• Kitchen: 13×9
• Foyer: 9×6

This 3-bedroom corner unit in the Bristol at 57 E. Delaware in the Gold Coast came on the market in January 2022.

The Bristol was built in 2000 and has 178 units and attached garage parking.

It was considered one of the top new construction downtown luxury buildings when it was first built.

It’s a full amenity building with door staff, a clubhouse, an exercise room, dry cleaners, bike storage, an indoor pool, jacuzzi and a deck with grills and a fire pit.

This listing also says that the building has new hallways and amenities and is also a smoke free building.

This corner unit has hardwood floors in the hallways, living room and dining room and the third bedroom.

It has east and south views, including of the Hancock and Michigan Avenue.

The listing says the third bedroom is currently being used as a den off the living room but could be converted back into a bedroom.

The other bedrooms are in a split floor plan.

The primary suite has a walk-in-closet and bathroom.

The unit has a half bath.

The kitchen has white cabinets, what look like granite counter tops and stainless steel appliances.

It has the features buyers look for including central air, side-by-side washer/dryer in the unit and there are 2 side-by-side parking spaces included.

Listed at $879,000, that’s $58,000 under the 2000 purchase price of $937,000.

The listing says:

DON’T MISS THIS VALUE PRICED OPPORTUNITY AT THE BRISTOL!

And says:

***Make this your next home with a little or a lot of personalizing as it is PRICED TO SELL!***

Is this a deal?

Patricia Papatheodore at Baird & Warner has the listing. See the pictures and floor plan here.

Unit #2402: 3 bedrooms, 2.5 baths, 2015 square feet

• Sold in September 2000 for $937,000
• Currently listed at $879,000 (includes 2 car side-by-side garage parking)
• Assessments of $1591 a month (includes a/c, doorman, cable, clubhouse, exercise room, pool, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $19,901
• Central Air
• Side-by-side washer/dryer in the unit
• Bedroom #1: 15×15
• Bedroom #2: 13×16
• Bedroom #3: 13×12
• Living/dining room: 26×20
• Kitchen: 8×19

We’ve chattered about Bronzeville during the pandemic as there has been a surge of new construction in the neighborhood.

Crain’s covers what is happening in that neighborhood.

The couple bought one of the 28 new-construction houses or townhouses sold in Bronzeville in 2021. That’s the largest number of new houses or townhouses sold in any Chicago neighborhood last year, according to Crain’s analysis of real estate records. It’s followed by Humboldt Park, with 25 sales, and Logan Square and Bridgeport, with 21 each.

Moving to Bronzeville from the South Loop, the Edwardses joined an influx that has been quietly transforming the neighborhood. Bronzeville’s onetime sore spot, thousands of vacant lots, has become its strong point, making it possible to lift the area’s housing and income profile without displacing people who were already there. It’s counter to the gentrification tension in Pilsen, along the 606 trail and in other areas, and if it works it could serve as a model for future revitalization of South and West Side neighborhoods.

New construction single family home, townhomes and condos are pushing up prices.

In the first decade of the 21st century, Bronzeville had more than 3,000 vacant lots, according to Ald. Pat Dowell, 3rd, the legacy of tearing down several Chicago Housing Authority projects and of disinvestment and other problems that led to demolition of decrepit buildings.

Since 2017, many of those lots have been reactivated with newly built houses and townhouses. In that time, Crain’s counts more than 250 houses, townhouses and condos that sold for $500,000 or more in the area bounded by the lakefront on the east, the Stevenson and Dan Ryan Expressways on the north and west, and on the south, 47th Street east of Cottage Grove Avenue and 51st Street west of Cottage Grove.

With new housing going in, some services have started to arrive.

The Mariano’s, which opened in 2016, was a big addition to the neighborhood.

And shortly, Bronzeville Winery, which is a wine bar and restaurant, is about to open. The Eater notes that residents are “eagerly awaiting” it.

“It’s one of the last places in Chicago where you can get a new, 4,000-square-foot house for under $1 million,” says Michaela Gordon, an @properties agent whose buyer clients paid $815,000 for a new, 3,600-square-foot house on 42nd Street in December. “It has a variety of quintessential old Chicago architecture, and you’re not displacing anyone” by buying on a home that took over a long-vacant lot, “so why wouldn’t you buy in Bronzeville?”

Should savvy buyers be looking to buy in Bronzeville in 2022?

New homes are transforming this historic neighborhood [Crain’s Chicago Business, by Dennis Rodkin, January 19, 2022]

This 3-bedroom townhouse at 2701 N. Racine in Lincoln Park came on the market in January 2022.

Built in 1974, this complex has 10 townhouses and outdoor assigned parking.

This townhouse is a south facing corner unit.

It has 20 foot vaulted ceilings in the living room along with a wood burning fireplace.

There are hardwood floors on each floor.

The main level has the living room, dining room and the kitchen, which leads through a sliding door to a private, walled, oversized brick patio which also has a storage unit.

The kitchen has dark wood cabinets, granite counter tops, a breakfast bar and stainless steel appliances.

The second level has the third bedroom, a loft area/nook that has the washer/dryer and overlooks the main level as well as a full bathroom.

The ceilings are also exposed wood.

The third level has the primary bedroom, the second bedroom, another full bathroom and skylights.

The townhouse has features buyers look for including central air and one assigned outdoor parking space.

It’s near the restaurants, coffee shops and pubs on Lincoln Avenue and is just a few blocks to the Diversey brown line station.

Listed at $549,900, is this a deal for 3 bedrooms with parking in this location?

Rachel Krueger at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

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

• Sold in September 1986 for $144,500
• Sold in February 1990 for $195,000 (CCRD says $395,000, but I’m assuming it’s a typo)
• Sold in November 1995 for $198,000
• Sold in October 1998 for $245,000
• Sold in April 2001 for $320,000
• Sold in March 2003 for $360,000
• Sold in December 2004 for $410,000
• Sold in June 2007 (relocation) for $435,000
• Sold in July 2007 for $375,000
• Sold in December 2013 for $475,000
• Currently listed at $549,900
• Assessments of $239 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $10,061
• Central Air
• Washer/dryer in the townhouse
• One assigned parking space
• Wood burning fireplace
• Skylights
• Bedroom #1: 13×13 (third floor)
• Bedroom #2: 12×14 (third floor)
• Bedroom #3: 12×11 (second floor)
• Living room: 12×19 (main floor)
• Dining room: 6×10 (main floor)
• Kitchen: 10×9 (main floor)
• Private walled patio

This 2 bedroom in The Robey at 4436 N. Damen in Lincoln Square came on the market in June 2021.

I couldn’t find a date for when The Robey was built but this courtyard building has 52 units.

It was converted into condos at the end of the housing bubble, in 2007.

This unit has exposed brick in the living/dining rooms and kitchen.

It has Brazilian cherry hardwood floors throughout.

The kitchen has dark stained 42″ cabinets, granite counter tops with a breakfast bar and stainless steel appliances.

This unit has features buyers look for including central air and washer/dryer in the unit.

The listing says there’s “easy street parking” or rental options a half block north of the building.

It also has a balcony that overlooks the courtyard.

Originally listed in June 2021 for $315,000, it has been reduced $15,000 to $300,000.

Is this 2-bedroom a better deal than buying a 1-bedroom for those who will be working from home?

Pasquale Recchia at @Properties has the listing. See the pictures here.

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

• Sold in November 2007 for $284,000
• Sold in April 2014 for $265,000
• Sold in August 2016 for $290,000
• Originally listed in June 2021 for $315,000
• Reduced
• Currently listed at $300,000
• Assessments of $331 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $4565
• Central Air
• Washer/dryer in the unit
• No parking
• Bedroom #1: 12×9
• Bedroom #2: 11×11
• Living/dining room: 16×14
• Kitchen: 12×9
• Balcony

This 3-bedroom duplex down in the Cloister of Wicker Park at 2112 W. North Avenue in Bucktown came on the market in May 2021.

Built in 1911, the Cloister of Wicker Park was converted to 38 condos in 1990.

It has a fenced courtyard with a fountain, a bike room, laundry room and extra storage rooms.

There’s no parking with the building.

This unit has some of its vintage features including wood moldings around the windows and hardwood floors on the main floor.

It also has a fireplace on the main floor.

This unit has 2 living spaces on the main floor, including the living room and family room, along with the dining room, kitchen and a full bathroom.

The lower level has all three main bedrooms including the primary suite.

The kitchen has wood cabinets, black stone counter tops and stainless steel appliances.

This unit has the features buyers look for that are rare in vintage apartments,  including central air and side-by-side washer/dryer.

There’s no parking but this building is just a block from the Damen blue line stop and near bus lines.

It also has two outdoor spaces: a shared balcony that overlooks the courtyard and a private back deck.

Listed in May 2021 for $435,000, it has been reduced to $350,000.

That’s $42,000 under the 2016 price of $392,000.

Is this a deal?

Natalie Renna at Dream Town has the listing. See the pictures here (sorry, no floor plan).

Unit #1E: 3 bedrooms, 2.5 baths, no square footage listed, duplex down

• Sold in August 1991 for $144,000
• Sold in November 1994 for $119,500
• Sold in June 1998 for $162,000
• Sold in May 2004 for $300,000
• Sold in May 2005 for $340,000
• Sold in May 2016 for $392,000
• Originally listed in May 2021 for $435,000
• Reduced
• Currently listed at $350,000
• Assessments of $458 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $8148
• Central Air
• Side-by-side washer/dryer in the unit
• Fireplace
• Bedroom #1: 15×12 (lower level)
• Bedroom #2: 15×12 (lower level)
• Bedroom #3: 13×12 (lower level)
• Family room: 15×12 (main level)
• Living room: 18×12 (main level)
• Kitchen: 13×13 (main level)
• Laundry room: 9×5 (lower level)

This 2-bedroom in the Coronado at 3900 N. Pine Grove in East Lakeview came on the market in January 2022.

Built in 1976, the Coronado has 101 units and heated indoor parking.

The building has an indoor pool, a “new” exercise room and a common roof deck with city views.

It doesn’t have a doorman.

The Coronado was converted into condos in 2005, during the housing bubble, and many units were bought by investors. In the housing bust, there was a lot of distress in the building with both short sales and foreclosures.

The listing says this unit had a “renovation completed in 2022.”

It has hardwood floors throughout and a fireplace.

The kitchen has white upper cabinets and navy blue lowers, what looks like granite counter tops, and stainless steel appliances.

Both bedrooms and living room face east, for morning sunrises.

The unit also has a 6×10 east facing balcony.

It has the features buyers look for including washer/dryer in the unit and heated indoor parking which is included in the price.

There are wall cooling units. Heat is included in the assessments.

This building is near the Red Line Sheridan stop and the shops and restaurants on Broadway and throughout Lakeview.

Listed at $325,000, is this a deal for a 2/2 with parking in this neighborhood?

Cornelis Hoogstraten at Kale Realty has the listing. See the pictures and floor plan here.

Unit #814: 2 bedrooms, 2 baths, no square footage listed

• Sold in September 2005 for $348,000
• Sold in May 2013 for $184,000 (was listed as a short sale, per Redfin)
• Currently listed at $325,000 (includes heated parking spot)
• Assessments of $674 a month (includes heat, gas, parking, security, cable, exercise room, pool, exterior maintenance)
• Taxes of $5213
• Wall cooling units
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 14×12
• Bedroom #2: 11×12
• Living room: 14×16
• Dining room: 8×12
• Kitchen: 9×9
• Balcony: 6×10

This 3-bedroom at 2736 N. Seminary in Lincoln Park came on the market in January 2022.

Built in 1924, this building has 7 units and a shared back yard.

There’s no parking.

I took this picture above about 10 years ago. If you look at the picture of the building today in the listing, you’ll see that a lot has changed on the block.  The two older homes on either side of the building have been replaced by new construction.

I guess I need a newer picture.

This is a top floor unit and has many of its original vintage features.

It has the original woodwork, which isn’t painted, including crown and window moldings.

The unit has a formal dining room with a built-in hutch.

The living room has a wood burning fireplace with the original vintage tile.

The kitchen has white cabinets which go up to ceiling height, a checkerboard floor, stainless steel appliances, granite counter tops and the original tin ceiling.

The primary bedroom has 2 large closets.

The unit has a marble bath.

It has central air, but no washer/dryer in the unit. There is laundry in the building.

The listing says that “all units on 2734 side have in-unit W/D.”

There’s no parking, but the listing says “easy street parking.”

This building is near the Diversey Brown line stop, Dom’s Kitchen and Market and Trader Joe’s as well as the shops and restaurants on Diversey.

Listed for $430,000, is this a vintage lover’s dream?

Brittany Bussell and Ann Bauer at @Properties have the listing. See the pictures here.

Unit #3E: 3 bedrooms, 1 bath, 1200 square feet

• Sold in April 1994 for $189,500
• Sold in August 1996 for $181,500
• Sold in August 2001 for $285,000
• Sold in July 2005 for $350,000
• Sold in July 2011 for $287,500
• Sold in May 2014 for $315,500
• Currently listed at $430,000
• Assessments of $194 a month (includes scavenger)
• Taxes of $8537
• Central Air
• No washer/dryer in the unit but it’s in the building
• No parking
• Additional storage in the building
• Wood burning fireplace
• Bedroom #1: 15×10
• Bedroom #2: 10×7
• Bedroom #3: 9×9
• Living room: 19×12
• Dining room: 15×14
• Kitchen: 14×12
• Walk-in-closet: 4×7