Crib Chatter

The Illinois Association of Realtors is out with the August sales data. The market cooled from last year’s 4-year high.

Chicago home sales (single-family and condominiums) in August 2021 totaled 2,831 homes sold, down 1.4 percent from August 2020 sales of 2,870 homes.

In the city of Chicago, the median price of a home in August 2021 was the same as in August 2020: $335,000.

August sales since 2007:

• August 2007: 2923 sales
• August 2008: 2078 sales
• August 2009: 1927 sales
• August 2010: 1486 sales
• August 2011: 1787 sales
• August 2012: 2209 sales
• August 2013: 2850 sales
• August 2014: 2414 sales
• August 2015: 2701 sales
• August 2016: 2844 sales
• August 2017: 2791 sales
• August 2018: 2754 sales
• August 2019: 2601 sales
• August 2020: 2870 sales
• August 2021: 2831 sales 

August median price since 2007:

• August 2007: $305,000
• August 2008: $297,500
• August 2009: $229,900
• August 2010: $200,000
• August 2011: $192,500
• August 2012: $200,000
• August 2013: $245,000
• August 2014: $269,500
• August 2015: $271,000
• August 2016: $271,000
• August 2017: $284,000
• August 2018: $280,000
• August 2019: $289,900
• August 2020: $335,000
• August 2021: $335,000

“After an anomaly of a year, we may be seeing seasonality come back into play,” said Nykea Pippion McGriff, president of the Chicago Association of REALTORS® and vice president of strategic growth at Coldwell Banker Realty. “During the month of August, sales prices held steady, and residents settled into their homes as the school year began. As summer turns to fall, this could be a great time to reach out to your REALTOR® and start, or restart, your search.”

Average time it took to sell statewide dropped to 24 days from 46 days in August 2020.

In Chicago, it dropped to 29 days from 35 days last year.

Statewide, inventory continued to decline. The number of homes for sale fell 28.9% to 31,054 from 43,653 homes last year.

In Chicago, inventory plunged 18.6% to 8,537 from 10,485 properties last year.

“Last month, the law of supply and demand once again manifested itself in the state’s housing market,” said Sue Miller, president of Illinois REALTORS® and designated managing broker of Coldwell Banker Real Estate Group in McHenry. “What few homes that were available got snapped up quickly – with sellers getting more than their asking price due to the low inventory.”

The average 30 year fixed rate mortgage was 2.84% in August down from 2.87% in July and lower than August 2020, which was 2.94%.

In Chicago, it was another strong month for condo sales as they were up 7.1% to 1837 properties compared to last year.

Single family home sales, however, fell 13.9% to 994.

Are we seeing a return to normal seasonality?

Or is limited inventory crimping sales?

Homes sold fast and prices rose during August in Illinois [Illinois Association of Realtors, Press Release, by Bill Kozar, September 22, 2021]

This 3-bedroom duplex up penthouse in 33 E. Bellevue in the Gold Coast came on the market in May 2020.

Built in 1910, this Beaux Arts building has 11 units and an attached parking garage.

It appears the building has an elevator but no other amenities.

The 3 bedrooms are all on the main level including the primary suite with 2 walk-in-closets and a new primary bath.

There’s also a family room on the main level.

The kitchen, dining room and living room are all on the second floor.

The eat-in kitchen has white cabinets and stainless steel appliances.

It has two fireplaces and built-in cabinets.

The penthouse has two outdoor spaces including a large front facing terrace measuring 54×10.

The unit has space pac cooling, laundry in the unit and 1 garage space, which is included in the price.

This building is in just minutes from the Gold Coast’s popular restaurants and shopping areas.

Originally listed in May 2020 for $2.475 million, it has been reduced to $2.245 million.

The east side penthouse is also currently on the market. It’s a 3/3 with 3094 square feet and is listed for $2.995 million.

See that listing here.

Does this penthouse have it all for buyers looking in a boutique building?

Julie Harron at Jameson Sotheby’s has the listing. See the pictures here (no floor plan)

Unit PH-W7: 3 bedrooms, 2.5 baths, 3500 square feet, duplex, penthouse

• Sold in November 1994 for $850,000
• Sold in September 1996 for $1.125 million
• Sold in June 2008 for $1.95 million
• Originally listed in May 2020 for $2.475 million
• Reduced
• Currently listed for $2.245 million
• Assessments of $2378 a month (includes heat, gas, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $47,488
• Space pac cooling
• Laundry in the unit
• 1 garage parking space included
• 2 fireplaces
• Bedroom #1: 17×16 (main floor)
• Bedroom #2: 14×11 (main floor)
• Bedroom #3: 12×11 (main floor)
• Kitchen: 17×14 (second floor)
• Living room: 19×19 (second floor)
• Dining room: 19×16 (second floor)
• Family room: 18×12 (main floor)
• Foyer: 11×7 (second floor)
• Laundry room: 8×6 (main floor)
• Terrace: 54×10 (main floor)
• Balcony

The 89th floor penthouse in Trump Tower at 401 N. Wabash in River North came on the market in September 2021.

Trump Tower was built in 2008 and has 486 units and an attached parking garage.

The hotel is on the lower floors and the condos are on the higher floors.

The building has a 14,000 square foot spa health club with a pool, outdoor space available to residents on the 16th floor, a club room and room service available directly to the condos.

It has door staff.

The condos have a separate entrance and elevators.

The listing says this penthouse has a private elevator accessed through a fob.

It has the entire top floor and has 360 degree views of the city and the Lake.

The penthouse has 19 foot ceilings in the living area with 18 foot floor-to-ceiling glass windows.

The listing says it is a “vanilla box” with just the walls and ceilings finished.

The buyer should “bring your own designer.”

There is no kitchen, bathrooms etc.

The listing says “Nothing like this has ever been or will ever be on the market again.”

According to Crain’s, the penthouse originally sold in 2014 for $17 million, which was a 53% reduction off the original asking price of $32 million.

The buyer was Sanjay Shah, the CEO of a suburban software firm.

According to Dennis Rodkin at Crain’s, Shah intended to finish building out the penthouse by 2018, but he never did.

Rafaeli also represented the penthouse at that time, and he told Chicago magazine that he expected finishing it into living space to cost between $4.2 million and $9.8 million at the going price for high-end finishes, up to $700 a square foot. Upper-end finishes now go for more like $1,000 a square foot, if not more, so finishing the space could run about $14 million, on top of the purchase price.

Rafaeli said in an email that Shah “did not complete the property because he became more focused on his business, which took a lot of time away from him. In addition, his two children are now grown and moved on, so it is a very large space for just two people.”

This unit has central air and heating and includes 4 parking spaces.

Listed for $30 million, is 2021, with the stock market near record highs, the perfect time to sell this penthouse?

Chezi Rafaeli at Coldwell Banker has the listing again. You can see the pictures and the floor plan here.

Unit #PH89A: 5 bedrooms, 8 baths, 14,260 square feet, penthouse

• Sold in December 2014 for $17 million
• Currently listed for $30 million
• Assessments of $16,635 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $257,391
• Central Air
• Washer/dryer in the unit
• 4 parking spaces included
• Private elevator access with fob
• Bedroom #1: 51×22
• Bedroom #2: 30×30
• Bedroom #3: 30×21
• Bedroom #4: 30×21
• Bedroom #5: 21×19
• Living room: 54×24
• Dining room: 30×20
• Kitchen: 21×20
• Family room: 38×29
• Exercise room: 48×26
• Gallery: 25×14
• Laundry room: 10×9

This 3-bedroom duplex penthouse at 33 W. Huron in River North came on the market in January 2021.

Built in 1998, 33 W. Huron has 67 units and an attached parking garage.

There is no doorman and no building amenities.

This unit is south facing and has an open living room, dining room and kitchen on the main level, along with 2 out of the 3 bedrooms.

The kitchen has “newly refaced” white cabinets, new appliances, and a large island.

One bedroom on the main level has a large walk-in-closet.

The second bedroom is being used as an office and has wood built-ins.

The primary suite is on the second level and has room for a sitting area, a walk-in-closet and a “spa-like” bathroom.

Both the family room and primary bedroom lead out to a large terrace with city views.

But the unit also has 2 smaller balconies on the main floor, in the living room and the second bedroom.

It has central air, washer/dryer in the unit and garage parking is $35,000 extra.

This building is near the Mag Mile, Whole Foods and Trader Joe’s as well as other shops, restaurants and bars.

Originally listed at $1.295 million, it has been reduced to $1,099,999.

That’s $195,001 under the 2015 sales price of $1.295 million.

Is this a deal?

Susan Morrow at Baird & Warner has the listing. See the pictures and floor plan here.

Unit #811: 3 bedrooms, 2 baths, 2751 square feet, duplex

• Sold in February 1999 for $681,500
• Sold in November 1999 for $815,000
• Sold in February 2003 for $970,000
• Sold in February 2015 for $1.295 million
• Originally listed in January 2021 for $1.295 million
• Reduced
• Currently listed at $1,099,999 (parking $35,000 extra)
• Assessments of $1348 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $27,569
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 26×14 (second floor)
• Bedroom #2: 14×13 (main floor)
• Bedroom #3: 14×12 (main floor)
• Living room: 19×15 (main floor)
• Dining room: 15×10 (main floor)
• Family room: 16×15 (second floor)
• Kitchen: 16×14 (main floor)
• Laundry room: 9×5 (main floor)

This 6 bedroom penthouse in 4 E Elm in the Gold Coast came on the market in May 2021.

Built in 2016, the building has only 35 units and an attached parking garage.

However, it has big building amenities including an outdoor pool, whirlpool, sundeck, fitness center, screening room and clubhouse lounge.

The building has 24 hour door staff.

This penthouse is a full-floor unit with a private elevator and 360 degree views of the city and lake through floor to ceiling windows.

The listing says it has “multiple” living and dining areas.

The kitchen has white and gray (or black?) “full height” Florense cabinets with waterfall counter tops, with an island and Subzero, Wolf and Miele appliances.

The primary suite has a massive walk-in-closet with built-in storage.

The listing says this property has “bountiful configurations” with space for an in-home gym, theater or offices.

It has three outside spaces including a covered 12×15 balcony.

This penthouse has central air, a laundry room and 3 deeded garage spots are included.

It sold from the developer just 5 years ago for $4.22 million.

Now listed at $12.9 million, is this the perfect penthouse for those who want to be in the Gold Coast but also want amenities?

Philip Skowron at @Properties has the listing. See the pictures here.

Unit #20: 6 bedrooms, 5.5 baths, 6600 square feet, penthouse

• Sold in June 2016 for $4,224,500
• Originally listed in May 2021 for $12.9 million
• Currently still listed at $12.9 million (includes 3 garage parking spaces)
• Assessments of $6,710 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, scavenger)
• Taxes of $128,912
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 20×15
• Bedroom #2: 13×14
• Bedroom #3: 11×17
• Bedroom #4: 11×23
• Bedroom #5: 22×20
• Bedroom #6: 11×20
• Living room: 28×24
• Dining room: 12×27
• Kitchen: 20×27
• Foyer: 16×13
• Laundry room: 8×17
• Family room: 26×14
• Office: 10×9
• Balcony: 12×15
• Walk-in-closet: 17×22

This top floor 2-bedroom at 551 W. Belden in East Lincoln Park just came on the market.

Built in 1894, this building has 20 units.

It doesn’t have an elevator nor does it have parking. However, there is extra storage in the building.

This unit is on the northwest corner and has some of its vintage features.

It has high ceilings, original woodwork, and leaded glass windows.

There is a floor to ceiling brick fireplace in the living room.

The kitchen has white cabinets, granite counter tops and a marble backsplash with stainless steel appliances.

There’s a separate dining room.

Of the two bathrooms, one has been updated with penny and subway tiles.

The primary bedroom is large enough to fit a king bed.

The unit has a spiral staircase that leads to a lofted den which then leads to a small ladder to the rooftop deck with views of downtown.

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

However, there’s no parking.

This property is located near the shops and restaurants of both Clark and Lincoln and is close to Lincoln Park and the Zoo.

Listed at $499,900, is $500,000 what you will pay for a 2/2 in this location in 2021?

KC Lau and Luke Reilly at @Properties have the listing. See the pictures, the floor plan and the 3D walkthrough here. ( I recommend the 3D walkthrough to see what the den/office looks like).

Or you can see it at the Open House on Saturday, September 18 from 12:30 to 2:30 PM.

Unit #4FW: 2 bedrooms, 2 baths, no square footage listed

• Sold in September 1990 for $183,000
• Sold in August 1992 for $194,000
• Sold in July 1998 for $232,000
• Sold in November 2009 for $400,000
• Sold in December 2013 for $405,000
• Currently listed at $499,900
• Assessments of $278 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes of $7156
• Central Air
• Washer/dryer in the unit
• No parking
• Gas fireplace
• Bedroom #1: 16×10
• Bedroom #2: 12×9
• Den: 9×8 (second floor)
• Living room: 21×14
• Dining room: 10×8
• Kitchen: 10×8
• Roof top deck: 11×10 (second floor)

This 3-bedroom row house at 3637 S. Prairie in the Douglas neighborhood of Bronzeville came on the market in September 2021.

I don’t have a picture and by the time I get one, it will probably be under contract.

Built in 1885, it’s on a standard 25×125 Chicago lot but it doesn’t have a garage or parking.

This row house was bank owned in 2013 and sold in 2015.

The listing says it has been “lovingly restored to its former glory.”

It has new plumbing, electrical, HVAC, roof, skylights and heated bathroom floors.

But it still has many of its vintage features, including Old European original millwork, 4 fireplaces including 3 on the main floor, and a wood staircase with what looks like original carvings.

It has 11 foot high ceilings.

The row house has a new kitchen with white cabinets, a kitchen island with a butcher block counter top and stainless steel appliances.

It has two and a half new bathrooms.

One has a walk-in-shower and a second full bath has a vintage claw foot tub.

All three bedrooms are on the second floor.

The primary bedroom has a fireplace.

There are walk-in-closets.

It has an unfinished basement with storage and laundry.

The backyard has a “fully designed” 38×17 brick patio with lush landscaping.

The row house has central air.

According to Crain’s, Bronzeville is one of the hottest neighborhoods for new construction.

Listed at $524,900, is this a deal for a restored vintage row house?

Linda Ross at Baird & Warner has the listing. See the pictures here.

Or see it in person at the Open House on Saturday, September 18 at 10 AM to 12 PM.

3637 S. Prairie: 3 bedrooms, 2.5 baths, 1848 square feet, row house

• Bank owned in October 2013
• Sold in March 2015 for $105,000
• Currently listed at $524,900
• Taxes of $3789
• Central Air
• No parking
• 4 fireplaces
• Bedroom #1: 16×15 (second floor)
• Bedroom #2: 10×9 (second floor)
• Bedroom #3: 12×10 (second floor)
• Family room: 18×13 (main floor)
• Foyer: 16×4 (main floor)
• Living room: 17×11 (main floor)
• Dining room: 15×13 (main floor)
• Kitchen: 20×13 (main floor)

This 3-bedroom townhouse at 623 W. Drummond in East Lincoln Park came on the market in September 2021.

Built in 1989, this complex has 14 units with attached 1-car garages.

It looks to be fee simple, which means it doesn’t have any assessments.

The listing says this unit has been “newly renovated.”

The first floor has a 1-car garage, a living room and one of the three bedrooms.

The second floor has a “chef’s kitchen” with granite counter tops, stainless steel appliances and a breakfast bar along with a living room with vaulted ceilings.

The primary bedroom is also on the second level and is en suite with his and her showers.

The third bedroom is on the top floor and has a private balcony.

It has central air and skylights.

This townhouse is near shops and restaurants on Clark and Diversey as well as the Landmark movie theater in Lakeview.

The listing says “AirBnb allowed” and “investors welcome.”

Listed at $579,000, would this townhouse make sense as a short-term vacation rental?

Matt Laricy at Americorp has the listing. See the pictures, floor plan and video tour here.

Unit #7: 3 bedrooms, 2.5 baths, 2200 square feet, townhouse

• Sold in November 1992 for $220,000
• Sold in January 1996 for $250,000
• Sold in January 1999 for $306,500
• Currently listed at $579,000
• No assessments
• Taxes of $8939
• Central Air
• Washer/dryer in the townhouse
• 1 car attached garage
• Bedroom #1: 17×13 (second floor)
• Bedroom #2: 17×13 (third floor)
• Bedroom #3: 12×13 (main floor)
• Living room: 18×13 (second floor)
• Kitchen: 8×15 (second floor)
• Family room: 24×13 (main floor)

This 3-bedroom townhouse in Wolcott Row at 1801 W. Diversey in Lincoln Park came on the market in August 2021.

Built in 1996, Wolcott Row is a gated complex with 36 townhouses.

This is an end unit with windows on three sides.

It has refinished hardwood floors on the first and second floors.

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

The kitchen has white cabinets, granite counter tops and stainless steel appliances including a double oven.

All three bedrooms are on the second floor along with 2 full baths.

The third floor has a fully enclosed family room or office with skylights.

The townhouse has a front patio and a private deck on the second floor.

It also has an attached 2-car garage and a rare third assigned parking space on an adjacent parking pad (see the pictures).

The listing says the schools are Prescott and Lincoln Park High School.

Listed at $550,000, are the 3 parking spaces the key to selling this property?

Edyta Schell at d’aprile properties has the listing. See the pictures here.

Unit #8: 3 bedrooms, 2 baths, 2010 square feet, townhouse

• Sold in April 2006 for $448,000
• Sold in May 2018 for $525,000
• Originally listed in August 2021 for $550,000
• Currently still listed at $550,000
• Assessments of $384 a month (includes exterior maintenance, lawn care, scavengers, snow removal)
• Taxes of $8891
• Central Air (except in that loft room which appears to have a window unit)
• Wood burning fireplace
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 15×9 (second floor)
• Bedroom #3: 13×10 (second floor)
• Family room/office: 15×12 (third floor)
• Living room: 15×14 (main floor)
• Dining room: 11×11 (main floor)
• Kitchen: 15×13 (main floor)
• Front terrace: 15×14 (main floor)
• Deck: 18×10 (second floor)

This 1-bedroom at 2000 N. Lincoln Park West in East Lincoln Park came on the market in September 2021.

Built in 1931 by William Wrigley Jr, this building has 195 units.

It was originally apartments until it was converted to condos during the housing boom in 2004-2005.

The building has full time door and maintenance staff, a roof top deck, exercise room, bike storage and a laundry room.

There’s no parking.

The listing for this east facing unit, says it has been “completely custom rehabbed to perfection in 2019.”

Yet it still has some of its vintage features  including crown molding and wood parquet floors throughout.

The kitchen has white cabinets with a Subzero refrigerator, Bosch dishwasher, Jenn-Air stove/oven with quartzite counter tops and backsplash.

The quartzite waterfall island seats three and a Marvel beverage cooler and storage.

There’s a sliding door to a full utility room and pantry with a side-by-side Bosch washer/dryer and California Closets storage.

There are electronic window shades in the dining room along with a quartzite topped custom dry bar.

The bedroom has a walk-in-closet built out with California Closets.

The bathroom has a walk-in porcelain shower with marble tile flooring and Kohler fixtures.

There’s no central air but it has an installed split A/C system in the bedroom.

This building is directly across from Lincoln Park and this unit has lake views.

The listing says you can get room service from RJGrunts and Starbucks.

You are also steps away from several bus lines.

Is this a dream apartment for vintage lovers?

Brenda Mauldin at Baird & Warner has the listing. See the pictures here.

Unit #1108: 1 bedroom, 1 bath, 950 square feet

• Sold in December 2004 for $401,000
• Lis pendens foreclosure filed in September 2009
• Sold in July 2010 for $190,000
• Sold in June 2018 for $280,000
• Currently listed at $400,000
• Assessments of $798 a month (includes heat, gas, doorman, cable, Internet, exercise room, exterior maintenance, scavenger and snow removal)
• Taxes of $5594
• No central air- but split a/c system
• Side-by-side washer/dryer in the unit
• No parking
• Bedroom: 17×11
• Foyer: 11×5
• Living room: 24×14
• Dining room: 10×8
• Kitchen: 13×10
• Laundry room: 7×7