550 N. St. Clair in Streeterville is a small, boutique building near the Mag Mile that was built with the modern aesthetic of open spaces and concrete ceilings.
Closings began in early February 2008. The current status on the building:
- Total number of units: 112
- Total units for sale: 21
- Total units for rent: at least 7
Closings are continuing.
In March, I chattered about this two bedroom unit. Since then, it has been reduced by $6,000.
Unit #1104: 2 bedrooms, 2 baths, no square footage given
- Sold in February 2008 for $603,500
- Was listed in March 2008 for $589,500 plus $45k for parking
- Reduced $6,000
- Currently listed for $583,500 plus the parking
- Assessments of $433 a month
- Coldwell Banker has the listing
Some of the bigger units are coming on the market. I don’t have an original closing price yet for this three bedroom.
You can see how the bathrooms are open to the rooms from these pictures.
Unit #2206: 3 bedrooms, 3 baths, almost 2100 square feet
- Currently listed for $1,138,000
- Assessments of $781 a month
- 41 foot private terrace
- 11 foot ceilings
- Sudler Sotheby’s has the listing
April 18th, 2008 | Posted in Flips | 41 Comments
Could you live without any walls?
This is the second loft in 720 S. Dearborn in Printers Row in the last six months that has no “real” walls.
The first, Unit #703, I chattered about last October.
Unit #703: 2 bedrooms, 1.5 baths, 1700 square feet
- Was listed in October 2007 for $475,000
- Assessments of $841 a month
I can’t find any sales information for this unit so it appears it didn’t sell.
Unit #603: 1 bedroom, 1.5 baths, 1300 square feet
- Sold in October 2002 for $239,000
- Currently listed for $324,900
- Assessments of $639 a month
- In-unit w/d
- There is a separate stand-up shower in the full bath (along with the claw bathtub)
- No parking in the building
- Schwind Realty & Development has the listing
April 18th, 2008 | Posted in Lofts | 23 Comments
Deaconblue asked:
“My question- are ANY new construction buildings that are finishing up selling right now?”
It’s been a little while since I provided an update on what is going on in the recently closed highrises.
Avenue East at 160 E. Illinois in Streeterville started closings in Summer 2007. The current status of the building:
- Total number of units: 133
- Total number of units for sale: 39
- Total number of units for rent: 14 (at least)
Some units are both for sale and for rent. I’m not sure the building is done closing on units yet. Some have also already been rented.
When I last chattered about this building in January, this 907 square foot one bedroom was listed for the crazy price of $590,000. It’s since been reduced.
Interestingly, the pictures provided aren’t of the unit- but of a model unit all gussied up. Paint and furniture DOES make a difference.
Unit #23C: 1 bedroom, 1 bath, 907 square feet
- Was listed in January 2008 for $590,000 (parking available for $50k)
- Currently listed for $479,900 (plus parking)
- Assessment of $399 a month
- New agent since January
- Keller Williams Lincoln Park now has the listing
Perhaps you’re interested in the cheapest unit in the building.
Unit #1503: 1 bedroom, 1 bath, 782 square feet
- Currently listed for $335,000 plus $50k for parking
- I don’t have a prior sales price but #1403 sold for $297,500 in October 2007
- Assessments of $280 a month
- Koenig & Strey has the listing
Total number of successful flips?
Zero.
(If anyone has different sales info, please let me know.)
April 18th, 2008 | Posted in Flips | 13 Comments
I last chattered about Park Place at 600 N. Kingsbury in River North in January.
At the time, two sellers were aggressively marketing their two bedroom units including one that said “bring all offers.”
One sold.
The other is still on the market. It has been reduced again.
Unit #1410: 2 bedroom, 2 bath, 1200 square feet
- Sold in September 2006 for $415,000
- Was listed in January 2008 for $380,000 plus $30,000 for parking
- Currently listed for $358,000 plus $30,000 for parking
- Assessment of $552 a month
- Coldwell Banker has the listing
This listing said to “Bring all offers!” and apparently the seller was serious.
Unit #1712: 2 bedroom, 2 bath, 1025 square feet
- Sold in May 2004 for $354,500
- Was listed in January 2008 for $379,000 including the parking
- Assessment of $486 a month
- It sold in February 2008 for $353,000
April 17th, 2008 | Posted in Reductions | 11 Comments
What does it take to get a townhouse with a second bathroom in Lincoln Park? A little more cash.
No longer are you under $400,000. You have to go up to the $400,000-$500,000 price range.
Some of the older townhouses offer more room and interesting layouts such as this one at 648 W. Willow. It was built in 1982 and has a front patio but also a basement. Check out the skylight in one of the bathrooms.
648 W. Willow #S: 2 bedrooms, 2 baths, 1 car garage
- Sold in July 2005 for $480,000
- Currently listed for $498,500
- Assessments of $85 a month
- @Properties has the listing
April 17th, 2008 | Posted in Lincoln Park | 10 Comments
I chattered about The Paramount Lofts at 1645 W. Ogden in the West Loop in December 2007. It was built in 2005/2006.
Some sellers were under stress then and several continue to be. Many of the units have seen large price reductions. Here’s one in short-sale:
GOT VIEW? AMAZING CHICAGO SKYLINE FROM FLOOR-2-CEILING WINDOWS LOOKING DIRECTLY E. AT THE SEARS TOWER*4TH FLR NR END UNIT W/BIG PRIV BALCONY*
PRE-FORECLOSURE-BANK ORDERED SHORT SALE REQUIRED*TOTALLY RENOVATED BY DEVELOPER*LIKE ‘NEW SELLER FORCED TO SELL*TONS OF HARDWOOD FLRS*IN UNIT WASHER/ DRYER*2 FULL BTHS*14 FT CEILINGS*PRKING INCLUDED*HUGE ROOF TOP DECK*FULL TIME DR MAN*BANK CONSIDERING ALL OFFERS!
Unit #410: 2 bedroom, 2 bath, 1200 square feet
- Sold in September 2006 for $311,800
- Was listed in December 2007 at $319,900
- Reduced
- Currently listed for $289,900 (parking included)
- Assessment of $357 a month
- Re/Max Professionals Select has the listing
Remember this one from December? It’s now in foreclosure.
Unit #340: 1 bedroom plus den, 962 square feet
- Sold in June 2006 for $233,800
- Was listed in December 2007 for $215,000 (parking included)
- For some reason it’s now on the market for $234,000 (parking included)
- Foreclosure price of $209,211
- Assessments of $256 a month
- Unit looks out onto the interior “courtyard”
- Old listing called it a “great investment property”
- Also was available to rent in December 2007 for $1550 a month
I guess it wasn’t a “great investment” after all.
This two bedroom has had a big price reduction since last December:
Unit #417: 2 bedroom, 2 bath, 1100 square feet
- Sold in April 2006 for $270,800
- Was listed in December 2007 for $419,900 (parking included)
- Reduced
- Now listed for $349,900 (includes one indoor heated parking spot)
- Assessments of $302 a month
- Coldwell Banker Honig-Bell has the listing
April 17th, 2008 | Posted in Foreclosures, Reductions | 8 Comments
You might think that all townhouses have to be two bedrooms or more.
But in Dearborn Park II in the South Loop, built in 1993, some of the townhomes were built with only one bedroom.
These have their own single garages. Some of the bigger two bedroom units have two car garages. Some have decks on the roof of the garage, which is certainly low maintenance. No lawn work here.
1214 S. Federal #G: 1 bedroom, 1.5 baths, 1100 square feet
- I couldn’t find a prior sales price
- Currently listed for $319,000
- Assessments of $182 a month
- Bedroom is 16 x 13
- @Properties has the listing
This one has no outdoor space.
1320 S. Federal #D: 1 bedroom, 1.5 baths, 1100 square feet
- Sold in December 2004 for $264,000
- Currently listed for $299,900
- Assessments of $182 a month
- Bedroom is 16 x 13
- Keller Williams River North has the listing
April 16th, 2008 | Posted in South Loop | 2 Comments
I just can’t help it. I’m a sucker for inlaid wood floors and stained glass. None of the new construction comes close to matching the older graystones.
2523 N. Burling in Lincoln Park was built in 1896. Most of the original features still remain, including the woodburning fireplace.
Unit #2: 3 bedroom, 2 baths, 1625 square feet
- Sold in June 2006 for $595,000
- Currently listed for $599,000 (parking included)
- Washer/dryer in the unit
- Back porch
- Assessments of $100 a month
- Coldwell Banker has the listing
April 16th, 2008 | Posted in Lincoln Park | 7 Comments
I know a few of you went on the South Loop Trolley Tour offered by Re/Max agent Rebecca Thomson last fall.
If you missed that one- nows your chance.
She’s running it again on Sunday, April 27.
It’s free. The trolley will take you to several sales centers in the South Loop.
You must register (because, after all, only so many people can fit on the trolley.)
If you go, please report back in with your observations.
Last time some of you reported seeing flippers/investors on the trolley. Will they still be looking to “invest” now- six months later?
South Loop Trolley Tour [Website]
April 16th, 2008 | Posted in South Loop | 8 Comments
I’ve chattered about The Columbian several times in the past. It is the new construction highrise on Grant Park at 1160 S. Michigan on the corner of Michigan and Roosevelt Road in the South Loop.
The East facing units have lovely views of the park and the lake but the West facing units are also very pleasant with city and Sears Tower views.
The building was only 70% sold when closings began. Flippers have been trying to flip in the building with little success.
The current state of the building is not encouraging (out of 220 units):
- 57 listings for sale
- At least 4 for rent
Some sellers are showing signs of the strain with the first foreclosure appearing in the building which only began closings in late summer 2007.
Unit #2505: Two bedrooms, two baths, 1479 square feet, unit faces Northwest
- Sold in September 2007 for $550,500
- I believe that includes a parking space
- Foreclosure auction price of $406,320
- Not yet back on the market
There are several “05” tier units currently for sale from sellers other than the developer:
#3105:
- Currently listed for $575,000 plus $35k for parking
- Reduced from $599,000 in February 2008
- It sold for $540,000 in October 2007
- Assessments of $371 a month
- Sudler Sotheby’s has the listing
#2205:
- Currently listed for $575,000 plus $35,000 for the parking
- Same price as in February 2008
- Sold in December 2007 for $507,500
- Assessments of $356 a month
- Baird & Warner has the listing
#1905:
- Currently listed for $539,999 plus parking
- I couldn’t find a prior sales price
- Assessments of $395 a month
- Coldwell Banker has the listing
Stay tuned.
April 16th, 2008 | Posted in Foreclosures | 2 Comments
