Crib Chatter

This 3-bedroom corner unit in 2500 N. Lakeview in Lincoln Park came on the market in January 2024.

Built in 1975, 2500 N. Lakeview has 155 units and attached leased garage parking.

It’s a full amenity building with 24-hour doorstaff, on-site engineer, outdoor pool, sun deck, party room, workout room, and a coin laundry room.

This unit has east views of the lake and park, a northern view and west views. The listing says you can see the sunrise in the morning and the evening sunset.

This unit has been “completely remodeled.”

It has brand new oak flooring throughout, new HVAC wall units with Google nest remote control and new motorized roller shades in all rooms, with the bedrooms having blackout shades.

The kitchen is also brand new with white cabinets and high end white GE Cafe Line appliances, quartz stone countertops with waterfall edge, and a breakfast bar with a wine fridge.

The bathrooms are “completely new” with “beautiful showers and stone work.”

There are custom closets and what looks like one walk-in-closet.

The unit has the features buyers look for including a new Bosch stackable washer/dryer with space for extra storage and parking is available for lease in the building. It doesn’t have central air, but has the wall units.

There’s a balcony off the living room with views of Lincoln Park and, the listing says, some south views of the city skyline.

This building is steps from Lincoln Park, North Pond Cafe, the Lincoln Park Zoo and conservatory, the shops and restaurants of East Lincoln Park. Several bus lines are nearby.

This unit last sold in May 2023 for $473,000 and has come back on the market completely renovated for $895,000.

Buyers love new.

Will the renovators get their price?

Katarina Maiers at Baird & Warner have the listing. See the pictures here (sorry, no floor plan).

Unit #1205: 3 bedrooms, 2 baths, no square footage listed

• Sold in June 1983 for $170,500 (per Redfin)
• Sold in March 1986 for $185,000 (per Redfin)
• Sold in July 1990 for $265,000
• Sold in June 1992 for $282,500
• Sold in November 2002 for $382,000
• Sold in September 2009 for $475,000
• Sold in May 2023 for $473,000
• Originally listed in January 2024 for $895,000
• Currently still listed for $895,000
• Assessments of $1525 a month (includes doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $9127
• Central Air
• Washer/dryer in the unit
• Garage parking is leased
• Bedroom #1: 18×13
• Bedroom #2: 13×11
• Bedroom #3: 14×12
• Living room: 18×16
• Dining room: 12×16
• Kitchen: 17×11
• Balcony: 4×6

This 2-bedroom in 600 N. Fairbanks in Streeterville came on the market in January 2024. (Sorry, apparently I don’t have my own picture of this building. I will rectify that.)

Designed by legendary architect Helmut Jahn, 600 N. Fairbanks has 212 units and attached garage parking.

It has 24/7 door staff, a sky fitness center, business lounge areas, a heated indoor stainless steel pool with skyline views, indoor heated dog run, and on-site property management.

The listing says this unit is one of the “rare” ’10 tier units with floor-to-ceiling south facing windows with city views from the 35th floor.

It’s a split 2-bedroom layout with space for a den or office nook.

The unit has wide plank hardwood floors throughout, including in the bedrooms.

It has a high end chef’s kitchen with imported Italian Snaidero cabinetry with brand new marble countertops and backsplash with Wolf, Miele and Subzero stainless steel appliances.

There are “dual” separate primary en suites with spacious marble bathrooms and designer lighting.

The unit has 2 private balconies.

It also has the features that buyers look for including central air, washer/dryer in the unit and garage parking is available for $65,000 extra.

This building is in the heart of Streeterville, near shops and restaurants, Whole Foods and the AMC River East movie theater. It’s also near the Mag Mile and multiple bus lines.

Listed at $999,000, that is under the 2017 sales price of $1.16 million.

Is this a deal?

Kimberly Becker and Katherine Taylor at @properties Christie’s have the listing. See the pictures here (sorry, no floor plan).

Or you can see it on the Open House this Sunday, Feb 4, 2024, from 11 am to 12:30 pm.

Unit #3510: 2 bedrooms, 2 baths, 1852 square feet

• Sold in March 2008 for $1,058,500
• Sold in March 2017 for $1,160,000
• Originally listed in January 2024 at $999,000
• Currently still listed at $999,000
• Assessments of $1623 a month (includes doorman, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $24,776
• Central Air
• Washer/dryer in the unit
• Parking is $65,000 extra
• Bedroom #1: 13×13
• Bedroom #2: 13×13
• Den: 16×10
• Kitchen: 16×13
• Living room: 17×16
• Dining room: 18×16
• Balcony: 7×5
• Balcony: 7×5

This 2-bedroom in Victorian Lane at 756 W. California Terrace in Lakeview came on the market in January 2024.

Victorian Lane was built in 1901 and has 37 units in a private, gated complex. There’s some parking, a bike room, storage and a dedicated barbecue area.

The listing says this is the first time this unit has ever been on the market. In the CCRD, the records go back to 1986 and there haven’t been any sales in that time period.

It’s a top floor unit which the listing says is one of only 2 like floor plans in the building.

It has south and west exposures.

The living room has crown molding, tall ceilings, parquet floors and a ceiling fan along with a wood burning fireplace with a floor to ceiling exposed brick surround and dura flame logs.

The kitchen is “functional” and has white cabinets, new white quartz countertops and a new modern marble backsplash.

There’s a bonus built-in pantry and a separate island with white quartz counter top (seems to be under the window.) The kitchen has white appliances.

The primary bedroom has a custom built-out closet with built-in vanity table, carpet and a ceiling fan.

The second bedroom also has carpet and a ceiling fan with west light.

There is no washer/dryer in the unit but the listing says the building allows it.

There’s also no parking but the listing says its available for $180 a month.

It does have central air.

The unit has a shared outdoor deck.

The listing says it has a “healthy” reserves, as of Jan 24, 2024, of $224,423.

This building is near the shops and restaurants of central and east Lakeview, the Binny’s, the Belmont El stop, several bus lines and Mariano’s.

Listed at $329,000, is this a good starter condo?

Penny Bagherpour at @properties Christie’s has the listing. See the pictures and floor plan here.

Or see it in person at the open houses on Feb 3, 2024 from 10 am to 12 pm and Feb 4, 2024 from 12 pm to 2 pm.

Unit #3: 2 bedrooms, 1 bath, 926 square feet

• First time on the market – last sale was before 1986
• Was listed in January 2024 for $329,000
• Assessments of $391 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $3123
• Central Air
• No washer/dryer in the unit but coin laundry in the building. Listing says you can add w/d in the unit.
• No parking but available for $180 a month
• Wood burning fireplace
• Bedroom #1: 11×17
• Bedroom #2: 9×14
• Living room: 13×17
• Kitchen: 11×9
• Shared outdoor deck

This corner 2-bedroom in 630 N. Franklin in River North came on the market in January 2024.

Built in 2005, in the “modern industrial style” which includes concrete walls and ceilings, 630 N. Franklin has 165 units and an attached parking garage.

The last time we chattered about this building, in 2022, it appeared to have a doorman. But there’s no doorman listed in the HOAs or the listing anymore.

This unit has a split floor plan, floor to ceiling windows, concrete ceilings and walls and hardwood floors in the living/dining area.

The listing says the kitchen was “gutted” in 2015 and has been meticulously maintained over the last 9 years.

The kitchen has gray cabinets, stainless steel appliances, and an island with seating for 3 which is open to the living and dining rooms.

The gold, modern light fixtures were, according to the listing, new in 2023.

The listing says there are “newer” window treatments.

The bedrooms have carpet and it appears the primary has an en suite bathroom.

There’s even a balcony, with city views.

The unit has the features that buyers look for including central air, washer/dryer in the unit and one indoor parking space is included.

This building has a Cross Fit in the base and is near shops and restaurants of West River North.

Listed at $549,900, that’s $74,900 above the 2022 purchase price of $475,000.

Will these sellers get the premium in this low inventory market?

Denise Headrick at Coldwell Banker has the listing. See the pictures here (sorry, no floorplan).

Unit #1011: 2 bedrooms, 2 baths, 1150 square feet

• Sold in December 2005 for $416,500
• Lis pendens foreclosure filed on April 9, 2010
• Sold by the bank in April 2015 for $308,000
• Sold in February 2022 for $475,000 (included the parking)
• Is currently listed at $549,900 (includes the garage parking)
• Assessments of $585 a month (includes exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $4320 (2022 listing said taxes were $6775 with $969 for parking for a total of $7744).
• Bedroom #1: 12×14
• Bedroom #2: 11×11
• Living/dining room combo: 12×25
• Kitchen: 6×13
• Balcony with city views

This 3-bedroom in The Portals at 425 W. Grant Place in East Lincoln Park came on the market in January 2024.

The Portals, at 425 W. Grant Place, was built in 1972 and has 50 units and assigned outdoor parking. I believe all the units are 3-bedroom duplexes.

It has a bike room and an on-site manager/engineer as well as extra storage.

The listing says this unit has the “best layout.”

It is a first and second floor unit with a huge private walled brick patio.

It has real hardwood floors throughout.

The living room, dining room and kitchen, along with a half bath and a stackable washer/dryer are on the main floor.

The kitchen is a Kupperbush custom kitchen with white cabinets and stone counter tops along with built-in appliances.

There’s a fireplace in the living room.

The second floor has the three bedrooms and two full baths, with the primary bedroom being en suite.

The listing says all three bathrooms have been “redone.”

This unit has the features buyers look for including one assigned outdoor parking space, central air and the washer/dryer in the unit.

Dogs and cats are welcome.

This complex is near the Francis Parker School, the Lincoln Park Zoo, Lincoln Park, the Conservatory and the shops and restaurants of East Lincoln Park and Old Town.

Listed at $649,500, this duplex was under contract within one day of being listed, but it has come back on the market. It may already be under contract again by the time this is posted.

Is this duplex an affordable townhouse alternative in this neighborhood?

Janelle Emalfarb-Gordon at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #A: 3 bedrooms, 2.5 baths, no square footage listed, duplex up

• Sold in April 1992 for $195,000
• Sold in February 1994 for $218,000
• Sold in July 2002 for $418,000
• Sold in June 2008 for $509,500
• Sold in August 2013 for $512,000
• Listed in January 2024 for $649,000
• Under contract within a day
• Came back on the market listed again at $649,500
• Assessments of $502 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $10,141
• Central Air
• Washer/dryer in the unit
• Assigned outdoor parking space
• Fireplace
• Bedroom #1: 17×13 (second floor)
• Bedroom #2: 14×10 (second floor)
• Bedroom #3: 13×9 (second floor)
• Living room: 20×13 (main floor)
• Dining room: 13×13 (main floor)
• Kitchen: 13×10 (main floor)
• Laundry: 5×5 (main floor)
• Patio (main floor)

The Illinois Association of Realtors is out with the December 2023 data. Inventory remained near record lows but the year-over-year sales declines appear to be easing as sales were up in December.

The city of Chicago saw a 1.6 percent year-over-year home sales increase in December 2023 with 1,470 sales, up from 1,447 in December 2022. The median price of a home in the city of Chicago in December 2023 was $310,000, up 7.8 percent in December 2022 when it was $287,500.

Just 2 years ago, in 2021, December sales were the highest since 2005, one of the housing boom years. But that was before the Fed started raising interest rates.

• 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: 2422 sales and median price of $313,500
• December 2022: 1425 sales and median price of $288,000
• December 2023: 1470 sales and median price of $310,000

Annual home sales in Chicago fell 20.9% in 2023 to 22,400 from 28,306 properties.

“Although the housing market is continuing its trend of low sales and relatively high prices, our forecast is that sales will increase over the next three months,” said Dr. Daniel McMillen, professor of real estate and associate dean for faculty affairs at the University of Illinois-Chicago College of Business Administration. “Consumer confidence has increased significantly as interest rates and the rate of inflation have declined.”

Inventory statewide, and in Chicago, continued to decline.

Statewide, inventory dropped again, by 22.7% to 17,291 properties from 22,369 properties in 2022. Annual closed sales also dropped by 18.3% to 132,120 from 161,695 in 2022. You can’t buy what isn’t for sale.

In Chicago, inventory declined 27.3% to 4,171 properties from 5,739 properties last year. The decline has been dramatic over the last 4 years.

• December 2020: 8,254
• December 2021: 6,281
• December 2022: 5,739
• December 2023: 4,171

Days on the market in Chicago fell 12.8% to 34 days from 39 days a year ago.

“Steady closed sales and an increase in median sales price in December shows a commitment from buyers to purchase,” said Drussy Hernandez, president of the Chicago Association of REALTORS® and vice president of brokerage services for Coldwell Banker Realty in Chicago. “With the anticipation of lower interest rates, we hope to see this increased activity continue into 2024.”

The 30-year fixed mortgage rate averaged 6.82% in December 2023, down from 7.44% in November 2023 but up from 6.36% in the prior year.

With inventory still on the decline, and even in January, it remains near record lows, what will happen with the spring market?

Will there be bidding wars on attractive properties simply due to low inventory? Or will buyers sit it out this spring?

Annual and December home sales in Illinois go down as inventory remains meager [Illinois Association of Realtors Press Release, by Bill Kozar, January 19, 2024]

This 1-bedroom at 340 W. Superior in River North came on the market in January 2024.

Built in 2001, 340 W. Superior has 87 units and attached garage parking.

It has door staff, an exercise room, a party room and a shared top floor sundeck.

The listing says this unit has been “updated.”

It has new luxury vinyl flooring and tons of custom built-in storage.

The kitchen has new blue floor-to-ceiling cabinets including stainless steel built-in appliances, custom concrete and butcher block countertops, a breakfast bar with seating for 3 and the continuation of the cabinets into the dining room with a wine fridge.

The den includes a queen sized Murphy bed and a custom, hidden desk.

The bedroom has organized closets and a built-in queen sized headboard but no window.

The bathroom has been “fully updated” with double vanity and porcelain stone.

The unit has the features buyers look for including central air, an “all new” washer/dryer and an assigned garage space was included.

It has a 16×6 balcony off the living room with eastern city views.

This building is near the Brown line at Chicago as well as the shops and restaurants of River North.

Listed at $390,000, that’s $110,000 above the 2019 sales price of $280,000.

Buyer’s love “new.”

Will this sell quickly?

James DeMarco at @properties Christie’s has the listing. See the pictures and floor plan here.

Unit #802: 1 bedroom, 1 bath, no square footage listed

• Sold in March 2002 for $222,500
• Sold in October 2019 for $280,000
• Currently listed at $390,000
• Assessments of $712 a month (includes heat, a/c, gas, doorman, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $6215
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Bedroom: 11×14
• Living/dining room: 22×14
• Kitchen: 9×10
• Den: 9×10
• Balcony: 16×6

This 2-bedroom at 4017 N. Southport in the Southport Corridor in Lakeview came on the market in January 2024.

I’m not sure when this building was built but it has 41 units and outdoor exterior parking. It also has storage in the basement and bike storage.

We’ve actually chattered about this unit in the past, in 2011, when the market was still struggling to recover from the housing bust.

See that chatter here.

This unit has tree views and is pet friendly.

The living room and kitchen is open concept. There’s a fireplace in the living room.

The kitchen has 42″ cabinets, granite counter tops and a mix of stainless steel and black appliances.

There’s no dining room or island/breakfast bar.

The second bedroom has French doors and hardwood floors and the listing says it could be used as an office.

The primary bedroom has carpet.

There’s also a large deck and private storage.

This unit has the features that buyers look for including central air, washer/dryer in the unit, and an outdoor parking spot is included.

This building is near the Southport Corridor with its shops and restaurants (Dairy Queen) and is near several bus routes.

Listed at $290,000, that’s $30,000 more than the 2020 purchase of $260,000.

Will the seller get the higher price with this tight inventory?

Rebecca Lavin and Emily Sachs Wong at @properties Christie’s have the listing. See the pictures and floor plan here.

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

• Sold in April 2001 for $240,000
• Sold in October 2007 for $301,000
• Originally listed in September 2010 for $279,000
• Sold in September 2011 for $192,500 (included the parking)
• Sold in December 2020 for $260,000 (included the parking)
• Currently listed at $290,000 (parking included)
• Assessments are now $332 a month (they were $256 a month in 2011)
• Taxes are now $5347 (they were $3526 in 2011)
• Central Air
• In-unit washer/dryer
• Bedroom #1: 11×10
• Bedroom #2: 9×11
• Living room: 18×11
• Kitchen: 11×10
• Balcony: 7×26

This corner 2-bedroom in One Place Condos at 1 E. 8th in the South Loop came on the market in January 2024.

Built in 2009, One Place Condos has 91 units and attached garage parking.

The building does not have door staff and no amenities except, apparently, a clubhouse (?).  The listing says that residents can get a discount at the XSport Fitness in the building.

This unit is a “rarely available” corner unit that is being sold by the original owners.

The listing says it has been “lovingly maintained” as a second home and is “gently used.”

It has floor to ceiling west and north facing windows with a split floor plan.

There are hardwood floors in the living/dining rooms and kitchen with “fresh” carpet in both bedrooms.

The kitchen has wood cabinets, stainless steel appliances and is a “rare” unit which has a center island, with seating for two, which was, according to the listing, an original construction upgrade.

The primary bedroom faces west and has 2 closets with custom shelving and an en suite bathroom.

The second bedroom faces north and is also en suite.

This unit has the features that buyers look for including central air, washer/dryer in the unit and garage parking is available for $25,000 extra.

If you’re thinking that this would make a fantastic rental given its location near several universities/colleges, the listing says that there is no rental cap or restrictions except that airbnbs are NOT allowed.

The listing also says the building is 45% owner occupied.

The building is near plenty of South Loop and Printers Row amenities and transportation:

The location is superb-close to the Loop, Columbia College/DePaul & Roosevelt Universities, Trader Joe’s, Jewel, coffee shops, Eleven City Diner, and all the best museums, restaurants, nightlife, and entertainment the South Loop and Printer’s Row have to offer. Just around the corner is the Harrison Red Line Station and Grant Park. Get to I-90/94, 55, and 290 in minutes.

Listed at $375,000 plus $25,000 for the parking, is this unit a candidate to remain as a second home?

Alex Wolking at KW OneChicago has the listing. See the pictures, floor plan and 3D Walkthrough here.

Unit #908: 2 bedrooms, 2 baths, 1047 square feet

• Sold in March 2009 for $300,000 (included the parking)
• Currently listed at $375,000 (plus $25,000 for garage parking)
• Assessments of $720 a month ($668 for the unit and $51 for the parking) (includes heat, a/c, cable, clubhouse, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $6392
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 11×11
• Bedroom #2 12×10
• Living room: 13×11
• Kitchen/dining: 19×15
• Balcony

This 2-bedroom corner penthouse at 15 S. Throop in the West Loop came on the market in January 2024.

Built in 2001, 15 S. Throop has just 46 units and attached garage parking.

It doesn’t have any door staff and the only amenity appears to be a bike room. There’s no exercise room.

This corner penthouse has skyline views with a “top-to-bottom” modern redesign.

The listing says it’s urban living meets modern elegance.

The living/dining rooms and kitchen is open concept and appears to have dark wood floors.

The kitchen has custom cabinetry from Archisesto and custom cabinet builder with matching floor to ceiling built-ins.

It’s a “chef’s dream” with Samsung and Bosch stainless steel appliances, quartz countertops, a peninsula with seating for 2, a column covered in neutral rock face stonework, a sleek blacksplash and under mount sink.

The unit has custom light fixtures.

The primary suite has east city views, a walk-in-closet, and an en suite bathroom with a “spa-like experience” with a separate shower and soak tub.

The second bedroom is being used as a workout room.

It doesn’t appear that either bedroom has a door.

The listing says the second bath has been “upgraded’ with custom tile and new soak tub.

The unit also has an east facing balcony off the living room.

This unit has the features that many buyers look for including central air, washer/dryer in the unit and garage parking is included.

This building is near coffee shops, restaurants, parks, spas and restaurant row and the Fulton Market corridor are minutes away.

Listed at $645,000, this unit last sold 21 years ago, in 2003, for $385,000.

Buyers love “new.”

Will this renovation get the sale done?

Lynn Reidl at @properties Christie’s has the listing. See the pictures, 3D Walkthrough and floor plan here.

Unit #605: 2 bedrooms, 2 baths, 1500 square feet

• Sold in January 2003 for $385,000
• Currently listed at $645,000
• Assessments of $608 a month (includes security, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $5,642
• Central Air
• Washer/dryer in the unit
• Garage parking is included
• Gas fireplace
• Bedroom #1: 13×14
• Bedroom #2: 11×12
• Living room: 26×22 (does this include the dining room and kitchen?)
• Dining room: 13×12
• Kitchen: 14×16
• Foyer: 7×7
• Walk-in-closet: 14×7
• Balcony: 16×5