Crib Chatter

This 2-bedroom penthouse in 2846 N. Southport in West Lakeview came on the market in August 2024.

Built in 2001, this elevator building has 6 units and heated attached garage parking. There are no amenities and no door staff.

The unit has 10.5 foot ceilings and hardwood floors throughout, including in the bedrooms.

There are floor-to-ceiling windows in the living room with Juliette balconies.

It has an open concept living room, dining room and kitchen.

There are built-in bookcases and an entertainment center along with a fireplace in the living room.

The kitchen has white cabinets, black granite counter tops and backsplash, an island with seating for 2, stainless steel appliances and a beverage refrigerator.

The primary suite has an organized custom closet and an “updated” primary bath.

This penthouse has the features that buyers look for including central air, side-by-side washer/dryer in the unit and one heated garage space which is $15,000 extra.

The listing says it has “exclusive roof rights” and it also has a balcony off the back of the unit, accessed from the sliding door in the primary suite.

This building is near shops and restaurants on Diversey, Southport, Lincoln and Ashland and is just on the edge of the Lakeview/Lincoln Park border.

It’s near the Diversey bus.

The listing says it’s in the Burley school district.

Originally listed in August 2024 at $725,000, it has been reduced $25,000 to $700,000.

Is $700,000 the new price for a 1675 square foot 2/2 in this neighborhood?

Brendan Murphy and Taylor Nirchi at Jameson Sotheby’s have the listing. See the pictures here (sorry, no floor plan).

Unit #3S: 2 bedrooms, 2 baths, 1675 square feet, penthouse

• Sold in April 2002 for $487,500
• Sold in July 2015 for $545,000
• Sold in April 2018 for $580,000
• Originally listed in August 2024 for $725,000
• Reduced
• Currently listed at $700,000
• Assessments of $489 a month (includes exterior maintenance and scavenger)
• Taxes of $11,221
• Central Air
• Washer/dryer in the unit
• Heated garage parking is $15,000 extra
• Fireplace
• Exclusive roof rights
• Bedroom #1: 16×15
• Bedroom #2: 13×11
• Living room: 22×13
• Dining room: 17×12
• Kitchen: 17×13
• Balcony: 22×9

This 3-bedroom penthouse in Ritchie Tower at 1310 N. Ritchie Court in the Gold Coast came on the market in June 2024.

Ritchie Tower was built in 1963 and has 99 units with an attached parking garage.

It has 24/7 door staff, an exercise room, onsite management, an outdoor pool, and a landscaped terrace with grills and tables.

This unit is a true top floor penthouse with views of Lake Michigan, Lincoln Park and the city from floor-to-ceiling windows. It has north, west and east views.

It also has two private terraces which affords an iconic south skyline view of the Hancock.

This unit is a combined two units where they “knocked down walls” and “raised the ceilings” so they are now 9 feet.

It has 3000 square feet.

There are wide plank floors throughout and harlequin black and white marble floors in the foyer.

It has custom metal framed glass doors, designer lighting and 2 wood burning fireplaces with marble and metal surrounds.

There is a living room and dining room separate from the kitchen which overlooks the family room and an informal dining area.

The Chef’s kitchen has modern custom cabinets, marble countertops and backsplash, a peninsula with seating for 2 and high end appliances.

One of the two terraces is off the kitchen.

There is also a library area with built-in bookshelves and a butler’s pantry/bar with a beverage refrigerator and an additional dishwasher.

The unit has two large luxury bedroom suites on opposite sides of the unit with one having eastern views and the other western. They are both en suite.

The third bedroom is used as an office and has a metal French doors.

This unit has the features that buyers look for including washer/dryer in the unit, central air and leased valet parking is available in the building.

The building is in a low traffic area of the Gold Coast, near the beach and the restaurants at State/Rush and Division.

Listed in June 2024 at $1.95 million, it has been reduced $300,000 to $1.65 million.

Buyers love “new.”

Will the new price make the sale?

Kevin Snow at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.

Unit #30AD: 3 bedrooms, 3 baths, 3000 square feet, penthouse

• Unit 30D sold in January 2011 for $605,000
• Unit 30A sold in November 2013 for $687,000
• Originally listed in June 2024 for $1.95 million
• Reduced
• Currently listed at $1.65 million
• Assessments of $3,061 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $18,486
• Central Air
• Washer/dryer in the unit
• Leased valet parking available
• 2 wood burning fireplaces
• Beverage refrigerator
• Additional dishwasher
• Bedroom #1: 15×17
• Bedroom #2: 12×10
• Bedroom #3: 11×10
• Kitchen: 12×20
• Family room: 15×30
• Living room: 29×16
• Dining room: 19×10
• Foyer: 13×13
• Bar: 11×10
• Walk-in-closet: 18×5
• Balcony: 5×38
• Balcony: 16×7

This 4-bedroom vintage row house at 558 W. Fullerton Parkway in Lincoln Park came on the market in July 2024.

Built in 1889 on a 20×111 lot, this brick row house is in the Fullerton Parkway historic district.

The listing says it was “completely rebuilt and finished in 2024” with meticulous design, exquisite finishes and state-of-the-art technology.

It says the “owner spared no effort or expense.”

You enter on the main floor which has 11 foot ceilings and is open concept living and dining rooms.

It has white oak hardwood floors in a herringbone pattern, a vented fireplace and custom millwork and moldings that are done to look like the period of the house.

A “gourmet” kitchen is also on the main floor with white and black cabinets, gold finishes and top of the line appliances.

Off the kitchen is a blue stone paved patio with seating for 12 and a built-in grill, with landscaping, which leads to a slate roof portico with antique stained glass windows sourced from London.

3 of the 4 bedrooms are on the second floor including the primary. There are also 2 full baths.

The primary suite has an en suite bathroom with heated marble floors and a closet.

The listing says the lower level was “dug out” and now has 9 foot ceilings.

It has a family room, with a fireplace, a wet bar, a small, windowless office with a built-in desk, storage closets, a mudroom, a full bathroom and the fourth bedroom.

The lower level also has a private door to the front yard.

The house has central air and the side-by-side laundry is on the second floor with the bedrooms.

It also has parking behind the home, under the blue paved patio/portico, in the form of a 2-car carport (see the pictures).

This row home is in a prime part of Lincoln Park, near the shops and restaurants on Clark, near Lincoln Park and the Conservatory and Zoo. It’s also close to several bus lines.

Listed in July 2024 at $2.29 million, it has been reduced $140,000 to $2.15 million.

Buyers love “new.”

Will the price cut get it done?

Xun Del Sesto and Arthur Rothschild at Jameson Sotheby’s have the listing. See the pictures and floor plan here.

Or see it at the Open House on Saturday, Aug 17, 2024, from 11 am to 1 pm.

558 W. Fullerton Parkway: 4 bedrooms, 3.5 baths, no square footage listed, row house

• Sold in December 1987 for $296,000
• Sold in September 2000 for $638,000
• Listed in July 2024 for $2.29 million
• Reduced
• Currently listed at $2.15 million
• Taxes of $19,266
• Central Air
• 2-car carport
• Skylights
• 2 fireplaces
• Bedroom #1: 13×13 (second floor)
• Bedroom #2: 13×11 (second floor)
• Bedroom #3: 11×10 (second floor)
• Bedroom #4: 13×12 (lower level)
• Living room: 18×23 (main floor)
• Dining room: 18×11 (main floor)
• Kitchen: 13×17 (main floor)
• Family room: 15×19 (lower level)
• Office: 6×8 (lower level)
• Mudroom: 18×6 (lower level)
• Storage: 5×10 (lower level)
• Walk-in-closet: 9×5 (second floor)
• Laundry: 3×5 (second floor)
• Patio: 14×20 (main floor)

This 2-bedroom in the Parkshore Co-op at 1755 E. 55th in Hyde Park came on the market in July 2024.

Built in 1920, the Parkshore has 115 units in two addresses. It has a lot of the amenities of the big buildings of that time including a landscaped private garden and a hospitality suite.

It also has 24 hour door staff and an exercise room. It is pet friendly.

There’s no parking, but, if I recall correctly, there’s a rental lot next door but I think there is a wait list.

This building also has a laundry room as many units don’t have in-unit laundry.

This unit faces south over the gardens and has French doors which open to a private balcony, with lake views.

It has hardwood floors throughout but not a lot of other vintage features.

The kitchen has been “updated” with all new stainless steel appliances. It has wood cabinets.

The primary bedroom has an updated private bath.

This unit has some of the features buyers look for including central air and in-unit washer/dryer. There’s no parking.

The Parkshore is near the shops and restaurants of Hyde Park, the Museum of Science and Industry, Promontory Point, the University of Chicago, several bus routes and the Metra as well as Trader Joe’s and Whole Foods.

Listed in July 2024 at $325,000, it has been reduced $10,000 to $315,000.

At 1900 square feet, is this a deal?

(Reminder, co-ops include the real estate taxes in the monthly HOA).

Jeanne Spurlock at Berkshire Hathaway HomeServices has the listing. See the pictures here. (Sorry, no floor plan)

Unit #804: 2 bedrooms, 2 baths, 1900 square feet, co-op

• Sold in July 2012 for $227,500
• Originally listed in July 2024 for $325,000
• Reduced
• Currently listed at $315,000
• Assessments of $2284 a month (includes heat, doorman, exercise room, lawn care, scavenger, snow removal)
• Taxes included in assessments
• Central Air
• Washer/dryer in the unit
• No parking
• Bedroom #1: 11×16
• Bedroom #2: 11×16
• Living room: 15×23
• Kitchen: 10×8
• Dining room: 14×16

This 3-bedroom in The Carlyle at 1040 N. Lake Shore Drive in the Gold Coast came on the market in August 2024.

The Carlyle was built in 1964 and has 128 units. There are just 2 units per floor.

It’s a full service building overlooking the Lake with doormen, an exercise room, a top floor shared terrace and an indoor rooftop pool.

It has valet garage parking and parking for guests. The building does not allow rentals or pets.

We’ve chattered about this building in the past.

It has a luxury pedigree with famous homeowners.

The following is information from one of the chatterati in our 2017 chatter:

This building has:

1. Huge reserves
2. Protected amazing city and lake views
3. Three doorman on duty
4. Elegant Large Lobby
5. Valet Parking and a private driveway
6. A proper ballroom and professional kitchen (Both are finished being remodeled now)
7. No renters
8. Full gym
9. A package receiving room (packages are brought into your unit at your convenience)
10. Separate entrances and elevators for Tradesman

The listing calls this unit the “pinnacle of luxury.”

It faces the lake and has been fully renovated with over “$1 million in renovations” which spared no details.

It has an entry foyer which leads to an open living room with a fireplace, a dining room and kitchen.

There are engineered European white oak floors throughout.

The gourmet kitchen is a “chef’s dream” with what looks like modern wood cabinets, ceramic countertops and backsplash, with Subzero and Miele cooktop and ovens.

There is no island but instead a dining nook which leads out to the balcony which has views of the Lake from Oak Street Beach all the way to Lincoln Park.

The unit also has a wall of glass doors off the living room that encloses a family room with a built-in desk which the listing says could also be used for a home office or library.

There is a powder room.

The three bedrooms are en suite and the bathrooms have heated Terrazzo bathroom floors.

The primary suite has a walk-in-closet and an en suite bath with a soaking stub and separate shower.

It has the features that buyers look for including central air, a side-by-side washer/dryer in the unit and one valet garage parking spot is included.

This building is near Oak Street Beach and the shops and restaurants of the Mag Mile and Rush/State. It is also on several bus lines.

In recent years, we have mostly been chattering about older, unrenovated units in this building. Buyers love “new.”

Listed at $2.595 million, will this sell fast?

Millie Rosenbloom at Baird & Warner has the listing. See the pictures and floor plan here.

Unit #26D: 3 bedrooms, 3.5 baths, 3020 square feet

• Sold in August 2014 for $1.5 million
• Currently listed at $2.595 million
• Assessments of $4103 a month (includes parking, doorman, cable, exercise room, indoor pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $29,702
• Central Air
• Washer/dryer in the unit
• Valet garage space included
• Guest parking available
• No pets
• No rentals
• Fireplace
• Bedroom #1: 18×22
• Bedroom #2: 14×12
• Bedroom #3: 22×13
• Living room: 25×18
• Kitchen: 19×9
• Dining room: 17×19
• Family room: 17×19
• Sitting room: 16×9
• Laundry: 8×8
• Walk-in-closet: 14×8
• Foyer: 8×10
• Pantry: 6×9
• Balcony: 8×20

This 2-bedroom in the Lincoln Lofts at 3151 N. Lincoln in Lakeview came on the market in August 2024.

The Lincoln Lofts was built in 1936 and converted into 52 loft condos in 1996. It has attached garage parking and an elevator.

There is no door staff or other amenities other than extra storage.

This is an authentic loft with exposed brick walls, 12 foot ceilings and big industrial windows. The listing says it is a “brick and timber” loft but it has drywall ceilings and I believe the ceilings in this building are concrete.

There are hardwood floors in the main living area.

It has a “new” chef’s kitchen with blue cabinets, an island with seating, quartz counter tops, a white tile backsplash and stainless steel appliances.

There’s a gas fireplace in the living room and it’s a double sided fireplace into the primary bedroom.

According to the prior listing, the primary bedroom is fully enclosed. It has a window and a reading nook with a ladder.

The listing says it is “newly rehabbed” with a walk-in-closet and en suite bathroom. The bathroom has a dual vanity, a shower/tub combo, custom stikwood walls and schoolhouse electric lighting.

The second bedroom is not fully enclosed and doesn’t have a window.

The second bathroom is also “newly rehabbed” with modern tile, a walk-in-shower and black matte fixtures.

There’s a spiral staircase in the main living area which leads to a private rooftop deck which the listing says has been “newly expanded.”

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

The building is in the heart of West Lakeview, near the shops and restaurants on Lincoln and Belmont, including the Whole Foods. It’s near buses and the Paulina brown line stop.

Listed in August 2024 at $560,000, it comes on the market just 14 months after it last sold.

It was previously listed in April 2023, and demand was apparently so strong the listing said “Multiple offers- best and final due.”

Listed for $435,000, with the same kitchen it currently has, it sold for $470,500.

Buyers love “new”.

With more renovations in the last 14 months, including both bathrooms, will it see multiple offers again?

Elliot Small and Olivia Stohle at Compass have the listing. See the pictures and floor plan here.

Unit #303: 2 bedrooms, 2 baths, 1613 square feet, loft

• Sold in September 1996 for $201,500
• Sold in May 2001 for $320,000
• Sold in April 2003 for $358,000
• Sold in May 2019 for $389,000
• Listed in April 2023 for $435,000
• Multiple offers? 
• Sold in June 2023 for $470,500
• Currently listed for $560,000
• Assessments of $576 a month (includes cable, exterior maintenance, scavenger, snow removal, Internet)
• Taxes of $8897
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Extra storage
• Gas 2-sided fireplace
• Bedroom #1: 14×21
• Bedroom #2: 10×17
• Living room: 15×20
• Dining room: 10×11
• Kitchen: 10×13
• Pantry: 6×8
• Walk-in-closet: 7×7
• Rooftop deck: 26×19

This 4-bedroom vintage row house at 474 W. Deming in East Lincoln Park came on the market in July 2024.

If this row house looks familiar, that’s because we’ve chattered about it twice before, when it was on the market in 2012 and, the last sale, in 2019.

The row house had difficulty selling in 2012, with the bear market. There were updates made to it by the time of the 2019 sale.

You can see that chatter here.

If you recall, it was built in 1882, and is on a 20×74 lot. It is fee simple. There is no garage.

The listing says it has been “fabulously renovated.”

The front of the row home faces south, is sunny with southern light.

It has some of its original features such as the double entry foyer, an original fireplace in the living room and the original staircase.

The main level has the living room which is open to an extra sitting area space which then leads into a formal dining room.

The kitchen has white cabinets, “top end” appliances and stone counter tops along with a peninsula with seating for 4.

There’s a deck with a grill off the kitchen which also has a spiral staircase that leads to the private rooftop deck.

The roof deck has composite decking and a pergola. It looks like, from the pictures, that the mini refrigerator is still in place.

The second floor has 3 out of the 4 bedrooms, including the primary suite, which the listing says has been “reconfigured.”

It has a walk-in-closet, with California Closets, and an “updated” bath with radiant heated floors, steam shower, and a custom vanity with double sinks.

There is a hall bath, also with radiant heated floors, and a second original fireplace in one of the other bedrooms.

The lower level is carpeted and has the recreation room along with a built in media center, a wet bar with a beverage refrigerator, wine storage, the laundry room, an updated bath and the fourth bedroom.

The row home also has skylights.

It has the features buyers look for including central air and 2 deeded parking spaces in the gated lot behind the home.

This row home has a coveted East Lincoln Park location as it is close to Lincoln Park but also the shops and restaurants on Clark. It is also near several bus lines.

The listing says it’s in the Alcott school district.

Listed at $1.55 million, that’s above the 2019 sales price of $1,337,500.

Will the record low inventory in Lincoln Park lead to a quick sale of this vintage home?

Emily Sachs Wong at @properties Christie’s has the listing. See the pictures here (sorry, no floor plan, but the 2019 listing has one).

474 W. Deming Place: 4 bedrooms, 3.5 baths, 3000 square foot, row home

• Sold in December 1988 for $315,000
• Sold in November 1993 for $266,000
• Sold in April 1995 for $307,500
• Sold in February 2001 for $640,000
• Sold in July 2013 for $1,026,000
• Sold in May 2019 for $1,337,500
• Originally listed in July 2024 for $1.55 million
• Still listed at $1.55 million
• Taxes of $21,731
• Central Air
• No garage but has 2 deeded parking space in the gated lot behind the house
• 2 original fireplaces (they appear to be decorative)
• Bedroom #1: 17×13 (second floor)
• Bedroom #2: 19×13 (second floor)
• Bedroom #3: 10×12 (second floor)
• Bedroom #4: 16×11 (lower level)
• Family room: 19×18 (main level)
• Kitchen: 14×11 (main level)
• Living room: 12×17 (main level)
• Dining room: 14×11 (main level)
• Recreation room: 19×18 (lower level)
• Laundry: 12×10 (lower level)
• Foyer: 6×9 (main level)
• Roof top deck: 19×53 (third floor)

This 2-bedroom in 617 W. Addison in East Lakeview came on the market in July 2024.

Built in 1916, this courtyard building has 27 units. We know from prior listings that a few units have garage parking behind the building.

There is laundry in the basement, extra storage and a bike room.

It is a co-op building so taxes are including in the monthly assessment. The building does not allow pets unless they are service animals.

This unit has many vintage features including crown molding, wainscoting in the dining room, hardwood floors throughout, and a fireplace in the living room which appears to possibly have the original tile and mantle.

The dining room has a unique barrel vaulted ceiling.

The kitchen has wood cabinets, and stainless steel and white appliances.

There’s also a foyer and a bonus sun room with windows on three sides.

This unit has some of the features buyers look for including central air, which is rare in vintage units. But it doesn’t have washer/dryer in the unit or parking. The listing says transferable rental parking is available nearby.

This building is in the heart of East Lakeview, near restaurants and shops, Wrigley Field, the Red line at Addison and several bus lines.

Listed in July 2024 at $425,000, is this a good starter home for those who want to be in the middle of everything Lakeview has to offer?

Sharon Kay Rizzo and Alexander Grange at Compass have the listing. See the pictures here (sorry, no floor plan).

Unit #2: 2 bedrooms, 1.5 baths, 1400 square feet

• There are no prior sales as it’s a co-op
• Listed in July 2024 for $425,000
• Assessments of $842 a month (includes heat, gas, taxes, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are included in the assessments
• Central Air
• No washer/dryer in the unit (laundry in the basement)
• No parking but transferable rental parking is nearby
• Fireplace (wood burning or gas?)
• Bedroom #1: 13×13
• Bedroom #2: 9×11
• Living room: 20×13
• Dining room: 12×18
• Kitchen: 13×9
• Sunroom: 7×12
• Foyer: 6×12
• Pantry: 4×7

This 2-bedroom at 1122 W. Armitage in Lincoln Park came on the market in July 2024.

If this building looks familiar, that’s because we’ve chattered about it before. It was built in 1994 and has 8 units and attached garage parking.

We actually chattered about this same unit in 2016. Back then, it was listed at $585,000 and ended up selling over ask at $596,000.

See our chatter here.

The building has a “new” elevator and a “newly renovated” lobby. The only common amenity appears to be a rooftop deck with skyline views.

The listing says this unit has been “updated to perfection.”

It has custom built-ins in the living room, newer crown molding/baseboards, a custom bar in the living room with white cabinets and a beverage refrigerator.

There’s a wood burning fireplace in the living room and a window seat.

The kitchen is open concept to the dining and living rooms and has white cabinets, a peninsula with seating for 4, carrera counter tops and stainless steel appliances.

The primary suite has an en suite bath which the listing says was a “complete gut.” It is “spa-like” with a double vanity and a massive tri-head shower.

It has custom window treatments throughout.

The unit has the features that buyers look for including central air, washer/dryer in the unit and one car garage parking.

It also has two outdoor spaces including a small shared balcony off the front of the unit accessible off the living room and a bigger private deck off the back of the unit accessible through the master bedroom.

This building is located just 3 blocks to the Brown line station at Armitage and is also on the Armitage bus line. It’s surrounded by the shops and restaurants on Armitage as well as those in the Clybourn Corridor.

Listed at $725,000 for 1500 square feet, has the price of a Lincoln Park 2/2 reached new highs?

Lindsey Richardson at Dream Town has the listing. See the pictures and floor plan here.

Unit #202: 2 bedrooms, 2 baths, 1500 square feet

• Sold in December 1994 for $371,250
• Sold in April 1999 for $345,000
• Sold in December 2002 for $479,000
• Sold in August 2007 for $507,500
• Sold in October 2016 for $596,000
• Sold in September 2019 for $620,000
• Currently listed at $725,000
• Assessments of $433 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $12,348
• Central Air
• Washer/dryer in the unit
• Wood burning fireplace
• Garage parking space included
• Bedroom #1: 22×17
• Bedroom #2: 12×10
• Living room: 19×19
• Dining room: 12×12
• Kitchen: 14×9
• Foyer: 8×5
• Balcony: 10×4 (front)
• Deck: 16×15 (back)

The Chicago market remains tight, with low inventory. But June sales have now dropped to housing bust levels.

From the Illinois Association of Realtors:

The city of Chicago saw a 15.0 percent year-over-year home sales decrease in June 2024 with 2,235 sales, down from 2,630 in June 2023. The median price of a home in the city of Chicago in June 2024 was $379,925, up 6.3 percent from June 2023 when it was $357,500.

Thanks to G for the historical sales data:

• June 1997: 1,817
• June 1998:  2,214
• June 1999:  2,435
• June 2000: 2,513
• June 2001: 2,451
• June 2002: 2,590
• June 2003: 2,891
• June 2004: 3,752
• June 2005: 3,850
• June 2006: 3,557
• June 2007: 3,127
• June 2008: 2282
• June 2009: 1981
• June 2010: 2526 (tax credit sales)
• June 2011: 1841
• June 2012: 2246
• June 2013: 2729
• June 2014: 2846
• June 2015: 3202
• June 2016: 3321
• June 2017: 3380
• June 2018: 3191
• June 2019: 2850
• June 2020: 2072
• June 2021: 3908
• June 2022: 3393
• June 2023: 2630
• June 2024: 2235

Here is the monthly median price data:

• June 2008: $309,945
• June 2009: $242,050
• June 2010: $234,250
• June 2011: $207,000
• June 2012: $216,700
• June 2013: $254,900
• June 2014: $275,000
• June 2015: $288,250
• June 2016: $299,900
• June 2017: $306,750
• June 2018: $314,900
• June 2019: $319,000
• June 2020: $329,000
• June 2021: $350,500
• June 2022: $367,000
• June 2023: $357,500
• June 2024: $379,925

“Continued inventory shortages are likely impacting closed sales and the median sales price, forcing many buyers to wait to get into the market,” Erika Villegas, president of the Chicago Association of REALTORS® and broker and owner of RE/MAX In the Village said. “Both buyers and sellers should focus on having conversations with local REALTOR® experts to discuss the nuances of their market. A REALTOR® will be able to advise on options to move forward.”

Statewide, inventory finally saw a slight year-over-year gain, rising 1.9% to 19,404 properties from 19,043 last year.

Has the inventory finally found a bottom statewide?

Chicago inventory continued to fall, however, declining 8.6% to 4,826 from 5,281 last year.

Here’s the June inventory for the last couple of years:

• June 2021: 9008
• June 2022: 7883
• June 2023: 5281
• June 2024: 4826

The average 30-year fixed rate mortgage came off the recent highs at 6.92% in June 2024 from 7.06% in May. It’s still above last June, which averaged 6.71%. And it’s certainly above June 2022 where it was 5.52%.

“Prices continued to rise in June,” said Dr. Daniel McMillen, Professor of Real Estate and Associate Dean for Faculty Affairs at the University of Illinois-Chicago College of Business Administration. “Our forecasts indicate that prices will begin their typical seasonal decline over the next three months. The number of sales is forecast to decline also. Surveys indicated that consumer confidence in the economy remains at approximately the same level that it has been for the past few months.”

Number of days on the market until the sale fell 7.4% in Chicago to 25 days from 27 last year.

On the rise in median price, both single family home and condo median rose in June. Single family home median price was up 9% to $865,000 where condo median was up 4% to $390,000.

Is Chicago soon to see a $400,000 median home price?

Illinois home sales fell, median prices reached new high and inventory ticked up in June [Illinois Association of Realtors, Press Release, by Bill Kozar, July 23, 2024]