Crib Chatter

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]

This 2/1 at 3749 N. Pine Grove in East Lakeview came on the market on July 17, 2024. I don’t have a picture of this building.

Built in 1905, it has 24 units and no parking. The units have separate storage.

This top floor unit has some of its vintage features including a coffered ceiling, a wood mirror in the foyer, millwork, hardwood floors throughout and a wood burning fireplace in the living room.

It has a dining room.

There are some exposed brick walls.

The kitchen has been “updated” and the listing says it was remodeled in 2017.

It has 42 inch white maple cabinets, granite counter tops, stainless steel appliances, and black glass subway tiles for the backsplash.

There’s a breakfast bar.

The king-sized primary bedroom has a walk-in-closet.

The unit also has a private outdoor deck.

It has some features that buyers look for including washer/dryer in the unit. There’s no central air but there are window units.

And there is no parking but the listing says the current owners have rented a spot at 3730 N. Lake Shore Drive for $175 a month.

This building is near the golf course and Clocktower Cafe, the shops and restaurants on Broadway, the Sheridan red line stop and multiple bus lines and Wrigley Field.

The listing says there are “multiple offers” but as of July 21, it hadn’t been listed as “contingent” yet. That will likely change this week.

Listed at $385,000, how high will this sell for as inventory remains low in Lakeview?

Are multiple offers common on most properties in Lakeview?

Megan Wood and Russell Burton at Compass have the listing. See the pictures and floor plan here.

Unit #3: 2 bedrooms, 1 bath, 1200 square feet

• Sold in March 1992 for $137,000
• Sold in July 1998 for $170,000
• Sold in November 2001 for $230,000
• Sold in June 2004 for $310,000
• Sold in September 2014 for $286,500
• Sold in February 2018 for $320,000
• Currently listed in July 2024 for $385,000
• “Multiple offers”
• Taxes of $6209
• Assessments of $511 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal)
• No central air (window units)
• Washer/dryer in the unit
• No parking but seller rents at 3730 n lsd for $175 a month
• Wood burning fireplace
• Bedroom #1: 15×10
• Bedroom #2: 11×10
• Living room: 12×19
• Dining room: 14×12
• Kitchen: 8×12
• Balcony: 4×8

This is the first time in a decade that a condo building is not under construction in downtown.

We shouldn’t be surprised, then, that apartment to condo conversions are starting.

The second one of the year was just announced last week and the sales center is about to open shortly.

It is Chateau on Wells at 707 N. Wells in River North. The building has been rebranded as it was known as The Hensley when it was luxury apartments.

The building’s website says it has the “effortless elegance of the Parisian lifestyle.”

Built in 2016, by architect Pappageorge Haymes, it is a boutique building with just 43 units on 11 floors and separate deeded garage parking.

This building will have 1, 2 and 3-bedroom units including penthouses.

From Crain’s:

The condos, which will be priced from $443,000 to about $1 million, “fill an inventory gap that we saw,” Shastri said. “It’s that under-a-million market, where there’s no new product coming to the market.”

While the high-end condo market in downtown neighborhoods continues to struggle with the impact of crime and affluent empty nesters’ declining interest in city condos, both Shastri and the Chateau on Wells listing agent, Matt Laricy of Americorp, said there’s strong demand for their price range, particularly from people who work downtown and want to live nearby.

The units will have wood accent walls and the kitchens will have quartz calaccatta gold monaco countertops.

They will each have private outdoor space as well.

Parking is available for $40k extra.

Currently, there are 5 units available and others will be coming to the market as soon as those leases expire.

Prices start at $443,000 for 1-bedrooms, $538,720 for 2-bedrooms and $889,709 for the three bedrooms.

This building is near the shops and restaurants of central River North, including the Goddess and Grocer and a small park directly to the north (see picture below).

Will the largest units sell quickly at this price point?

Matt Laricy at Laricy-Americorp has the listing. See the developer’s website, including some floor plans, here.

I’m not sure about the building’s amenities or if it has door staff.

This 2-bedroom in the Farallon at 600 N. Dearborn in River North came on the market in June 2023. (Yes, the frog lives on in my photo.)

The Farallon was built in 2001 and has 162 units and attached garage parking.

It has 24/7 door staff and an exercise room.

This unit is a southeast corner unit with a split floor plan. It has views of downtown and Marina City.

The listing says it has $80,000 in recent upgrades.

The kitchen has white cabinets, quartz counter tops and luxury appliances including Fisher and a Paykel refrigerator along with a built-in beverage center.

There is a dining space next to the kitchen.

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

The unit has a balcony.

This unit has the features buyers look for including central air, washer/dryer in the unit and heated garage parking is available for $20,000 extra.

The Farallon was among the first of the new River North buildings that was built during the housing boom years. It sold out nearly immediately.

The building is near the shops and restaurants of River North, several bus lines and the Red line subway.

Listed in June 2023 at $495,000, it has been reduced $100,000 to $395,000. That’s below the 2014 price of $425,000.

Is this a deal?

Yehuda Cohen at Dream Town has the listing. See the pictures and floor plan here.

Unit #1612: 2 bedrooms, 2 baths, 1135 square feet

• Sold in April 2003 for $355,000
• Sold in May 2005 for $377,500
• Sold in August 2012 for $333,000
• Sold in November 2014 for $425,000
• Originally listed in June 2023 for $495,000
• Reduced
• Currently listed at $395,000
• Assessments of $1082 a month (includes heat, a/c, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $8679
• Central Air
• Washer/dryer in the unit
• Heated garage parking is $20,000 extra
• Bedroom #1: 13×13
• Bedroom #2: 13×12
• Living room: 14×12
• Kitchen: 9×8
• Dining room: 8×8
• Balcony: 11×5

This 2-bedroom loft in the Soda Pop Factory Lofts at 1001 W. Altgeld in Lincoln Park came on the market in June 2024.

The Soda Pop Factory Lofts at 1001 W. Altgeld was converted into 9 lofts in 1987. I don’t know the original age of the building. It has a center courtyard and attached garage parking.

The listing for this unit says it’s “rarely available.”

It is a second floor loft with exposed brick walls and exposed ductwork along with tall ceilings.

There are built-in bookcases and a gas fireplace.

The kitchen is “updated” and has dark wood cabinets and stainless steel appliances along with a breakfast bar.

The listing says there’s a “new” hall full bath.

The primary suite has a second full bath and full ceilings.

The second bedroom opens to the living room and the listing says this makes it an “ideal office.”

The bedrooms are carpeted. There appears to be hardwoods in the main living areas.

Stairs lead to the private, “oversized” deck with skyline views.

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

The Soda Pop Factory Lofts are near the shops and restaurants on Fullerton, Lincoln and Halsted and is near the Fullerton El line stop and several bus lines.

Listed at $550,000, are two bedroom units with parking in Lincoln Park now selling in the $500,000s?

Maria Kernahan and William Kernahan have the listing. See the pictures here (sorry, no floor plan).

Unit #7: 2 bedrooms, 2 baths, 1188 square feet, loft

• Sold in December 1994 for $206,000
• Sold in August 1998 for $254,500
• Sold in December 2001 for $320,000
• Sold in September 2007 for $455,000
• Listed in June 2024 for $550,000
• Currently still listed at $550,000
• Assessments of $395 a month (includes scavenger, snow removal, parking)
• Taxes of $7883
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Fireplace
• Bedroom #1: 17×11
• Bedroom #2: 10×9
• Living room: 18×14
• Kitchen: 12×7
• Deck: 19×30 (second floor)

This 3-bedroom townhouse in Fulton Station at 320 N. Clinton in River West came on the market in July 2024. (Picture above is of 310 N. Clinton side of the street)

Built in 1998, Fulton Station has 24 townhouses with attached garages.

This is an end unit townhouse and has three outdoor spaces including a first floor enclosed patio, a second floor balcony off the kitchen and a roof top deck.

The listing says this townhouse has been “updated.”

The first floor has the garage, a full bath and the third bedroom, or den/family room, which has hardwood floors and leads to the patio.

The second floor has the living/dining room combination which has a fireplace, and the kitchen.

The kitchen has wood and white cabinets, an island with seating, granite counter tops and stainless steel appliances. It also has a side-by-side washer/dryer and a beverage refrigerator.

The third floor is the two remaining bedrooms, which have carpet, and one full bathroom. There is not a primary en suite bathroom.

The roof top terrace is one floor up with its own entrance.

Fulton Station is near the shops and restaurants of Fulton Market, the West Loop, the Loop and the Riverwalk.

Listed at $799,999, it also came on the market as a rental.

On the Redfin calculator, including taxes and the assessment, with 20% down ($160,000) with a 30-year fixed rate mortgage of 7%, you would have a monthly payment of $6095.

Is this a rental steal at just $4500 a month?

Andrea Allen and Carol Duran at Berkshire Hathaway HomeServices have the listing. See the pictures and floor plan here.

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

• Sold in August 1998 for $315,000
• Sold in July 2002 for $448,000
• Sold in March 2005 for $477,500
• Sold in January 2021 for $655,000
• Currently listed at $799,999
• OR you can rent it for $4500 a month
• Assessments of $350 a month (includes exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $13,925
• Central Air
• 1-car attached garage
• Fireplace
• Bedroom #1: 14×13 (third floor)
• Bedroom #2: 15×11 (third floor)
• Bedroom #3: 17×10 (main floor)
• Living room: 17×7 (second floor)
• Kitchen: 17×11 (second floor)
• Dining room: 15×9 (second floor)
• Walk-in-closet: 4×12 (third floor)
• Rooftop deck: 17×24 (fourth floor)
• First floor patio
• Balcony (second floor)