Crib Chatter

This 2-bedroom loft in 20 N. State in the Loop came on the market in July 2021.

20 N. State was converted into loft condos during the housing boom in 2003.

It has 100 units and an exercise room.

There’s no parking with the building nor is there a doorman.

This loft is a northeast corner loft with a wall of windows facing over State Street.

The listing says it has 18 foot high unique concrete ceilings, but the prior listing says they were 15 feet.

This loft has new hardwood floors throughout.

It also has a “brand new” kitchen with new stainless steel appliances, what look like light wood cabinets and a kitchen island with what looks like granite counter tops throughout.

Some of these lofts have a unique interior “terrace” with a window. In this unit, the listing calls it a “bonus” room which could be a potential den, office or workout room (a space for your Peloton?).

It looks like one bedroom has a window and the second one has a window wall that looks into the bonus room.

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

There is no parking but you are in the heart of a dense transit zone with subway lines and dozens of bus lines.

Listed at $364,000, that’s $40,000 over the 2017 sale.

Will all the upgrades pay off in a quick sale?

Brian Harbison at Kale Realty has the listing. See the pictures here.

Unit #506: 2 bedrooms, 1 bath, no square footage listed, loft

• Sold in June 2003 for $220,000
• Sold in January 2004 for $248,500
• Sold in February 2017 for $324,000
• Originally listed in July 2021 for $364,000
• Currently still listed at $364,000
• Assessments of $725 a month (includes heat, a/c, gas, exercise room, exterior maintenance, scavenger, insurance)
• Taxes of $4664
• Central Air
• Washer/dryer in the unit
• No parking
• Bedroom #1: 12×12
• Bedroom #2: 11×9
• Bonus room: 12×5
• Living room: 15×12
• Kitchen: 15×12
• Laundry room: 4×4

This 2-bedroom duplex up in the St Michael’s High School Condos at 1660 N. Hudson in Old Town came on the market in July 2021.

St Michael’s High School Lofts (Condos?- I’ve always seen it called Lofts) was built in 1928 and converted to condos in 1988.

Here’s more from the Chicago Tribune talking about all the development at the St. Michael’s church site in the 1980s:

Chicago Landmark has already begun renovation of the high school, where the last class graduated in 1978, into 42 condominium units priced from $150,000 to $550,000. The largest of those units is 3,800 square feet.

Some of the units are two-story townhouses, while the remainder have lofts. Badner said the ceilings in the school are so high, 14 to 20 feet, that lofts can be added to most units to create an added story.

”There are lots of ideas and lots of views in the building. Nothing is the same,” said Badner. ”Believe it or not, there was even a bowling alley in the old school that we converted to private parking for the six largest end units.”

This unit has 12 foot ceilings and a wood burning fireplace in the living room.

The kitchen has been “newly updated” and has quartz counter tops, stainless steel appliances, wood cabinets and a peninsula with some seating.

The listing says there are new mechanicals and new window treatments.

The primary bedroom is on the main floor with an en suite while the second bedroom is on the second floor and also has an en suite.

The second bedroom overlooks the living/dining room on the first floor but appears to be enclosed.

This unit has two balconies, one in the primary bedroom and one in the living room, which over looks the courtyard.

The listing says it’s just 1 of 4 units with private courtyard balconies.

It has the features buyers look for including central air, washer/dryer in the unit and heated underground parking is included.

The building has a shared rooftop deck with grills, a pergola and wifi along with city views.

It’s near the shops and restaurants of Old Town.

Listed at $649,888, that’s $184,888, or 39.8%, above its 2016 price of $465,000.

Will it get the premium?

Melanie Giglio and Michael Mariduena at Compass have the listing. See the pictures and floor plan here.

Unit #2A: 2 bedrooms, 2.5 baths, duplex up, 1500 square feet

• Sold in October 1988 for $235,000
• Sold in April 1991 for $252,000
• Sold in January 1994 for $260,000
• Sold in July 1998 for $245,500
• Sold in July 2005 for $425,000
• Sold in August 2016 for $465,000
• Originally listed in July 2021 for $649,888
• Currently still listed at $649,888 (includes underground parking space)
• Assessments of $482 a month (includes parking, security, cable, Internet, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $9413
• Central Air
• Washer/dryer in the unit
• Wood burning fireplace
• Bedroom #1: 17×13 (main floor)
• Bedroom #2: 9×18 (second floor)
• Living/dining combo: 23×17 (main floor)
• Kitchen: 9×14 (main floor)
• 2 balconies on the main floor

This 5-bedroom townhouse in 20 N. Loomis in the West Loop came on the market in April 2021.

Built in 2018, this townhouse complex has 8 units and attached garage parking.

This townhouse has 10 foot ceilings and a private elevator for the 4 floors.

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

The listing says no expense was spared in the kitchen which has custom cabinets, Wolf and Miele appliance and a large island with a waterfall counter top.

3 of the bedrooms are on the third floor with the primary suite and a fifth bedroom on the fourth.

The primary suite has 2 walk-in-closets and an en suite bathroom with a spa-like soaking tub and steam shower.

There is also a family room on the top floor with a full wet bar and a private terrace with a city view.

The townhouse has central air and a private 2.5 attached garage.

The listing says its in the Skinner school district.

At 5,634 square feet, with 5 full baths and 2 half baths, this townhouse is larger than many Chicago single family homes.

Originally listed in April 2021 for $2.5 million, it has been reduced to $2.495 million.

With few single family homes in the West Loop, is the townhouse the alternative for families in that neighborhood?

Victoria Rezin and Dawn McKenna at Coldwell Banker has the listing. See the pictures here.

Unit #F: 5 bedrooms, 5 full baths, 2 half baths, 5634 square feet, townhouse

• Sold in July 2019 for $1.738 million (per Redfin and Zillow)
• Originally listed in April 2021 for $2.5 million
• Reduced
• Currently listed at $2.495 million
• Assessments of $526 a month (includes gas, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $41,217
• Central Air
• 2.5 car private garage
• Private elevator
• Bedroom #1: 18×20 (fourth floor)
• Bedroom #2: 14×15 (third floor)
• Bedroom #3: 14×14 (third floor)
• Bedroom #4: 18×13 (third floor)
• Bedroom #5: 16×14 (fourth floor)
• Living room: 26×24 (second floor)
• Dining room: 14×14 (second floor)
• Kitchen: 15×20 (second floor)
• Family room: 30×24 (fourth floor)
• Exercise room: 10×10 (lower level)
• Walk-in-closet: 14×11 (fourth floor)
• Laundry room: 11×14 (fourth floor)
• Terrace: 29×18 (third floor)
• Balcony: 12×9 (second floor)

This 2-bedroom duplex up loft in Churchill Row at 2111 W. Churchill in Bucktown just came on the market.

Churchill Row, a former cabinet factory, was converted into 39 loft condominiums in the early 2000s.

It has attached garage parking.

This loft has authentic loft features including exposed brick walls and 17 foot timber ceilings.

It has had some renovations in the last few years.

The listing says there was a “gut renovation” of the primary bath in 2017.

The kitchen also had updates in 2019. The cabinets are now gray, it has new stainless steel appliances, quartz counter tops and backsplash, and wine fridge. It also has an island with what looks like seating for one and a built-in bookcase.

One bedroom is on the first floor and has a barn door.

There is also an office nook tucked under the stairs with a custom built-in desk and shelving.

The primary suite is on the second floor and is open to the living room below. It has a walk-in-closet and a bath.

The laundry is also on the second floor.

The listing says that there is new hardwood floors on the stairs and the primary bedroom (2014 listing pictures indicates it was carpeted previously.)

The loft has a wall of south facing windows that overlooks the private 21×12 private landscaped terrace.

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

This building backs up to the 606 and is near the restaurants and shops of the Damen/Milwaukee/North Avenue intersection.

Originally listed at $529,999 in early July 2021, it has been reduced to $500,000.

Are buyers still craving private outdoor space in 2021?

Sharon O’Hara at @Properties has the listing. See the pictures and floor plan here.

Unit #110: 2 bedrooms, 2 baths, no square footage listed, duplex-up

• Sold in October 2002 for $324,000
• Sold in September 2005 for $396,500
• Sold in July 2009 for $379,000
• Sold in September 2014 for $379,000
• Originally listed in July 2021 for $529,999
• Reduced
• Currently listed at $500,000 (plus $20,000 for parking)
• Assessments of $400 a month (includes scavenger, snow removal, Internet)
• Taxes of $8423
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 13×12 (second floor)
• Bedroom #2: 13×12 (main floor)
• Living room: 12×11 (main floor)
• Dining room: 12×8 (main floor)
• Foyer: 6×19 (main floor)
• Kitchen: 7×19 (main floor)
• Terrace: 21×12

This 4-bedroom duplex-up penthouse at 2948 N. Pine Grove in East Lakeview just came on the market.

Built in 1922, the building has 10 units.

If it looks familiar, that’s because we’ve chattered about it several times,  in 2013 and in 2017.

See our 2017 chatter here.

If you recall, it has a 2-story ceiling height with a second floor loft that overlooks the living room.

The main floor has the kitchen, living and dining rooms, a full bath, and one of the four bedrooms.

The fireplace in the living room is decorative.

The kitchen has white cabinets, marble counter tops, a subway tile backsplash, a white farmhouse sink, stainless steel appliances and a wine fridge.

In addition to the lofted family room, the second floor has three bedrooms and a full bath.

The listing says the bathrooms have been updated.

The unit has the features that buyers look for including space pac and washer/dryer in the unit.

It doesn’t have parking, but a transferable parking space is available for $180 a month across the street.

This unit is located near the shops and restaurants of East Lakeview.

After selling for $530,000 in 2018, it has come back on the market at $650,000.

Vintage 4-bedroom duplexes at this price point aren’t common in this neighborhood.

Will it get the premium?

Conor Scanlon at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #2: 4 bedrooms, 2 baths, 2000 square feet, duplex up

• Sold in May 1992 for $207,500
• Sold in June 2000 for $318,000
• Sold in July 2006 for $469,500
• Originally listed in August 2009
• Sold in August 2013 for $406,000
• Sold in June 2018 for $530,000
• Currently listed at $650,000
• Assessments are still $489 a month (they were $518 a month in 2013) includes heat, exterior maintenance, lawn care, scavenger, snow removal
• Taxes are now $8410 (they were $9374 in 2017, $8422 in 2013 and $8104 in 2011)
• Space pac
• Washer/Dryer in the unit
• No deeded parking but transferable parking for $180 a month across the street
• Bedroom #1: 16×12 (second floor)
• Bedroom #2: 14×10 (second floor)
• Bedroom #3: 12×8 (second floor)
• Bedroom #4: 14×10 (main floor)
• Family room: 15×12 (second floor)
• Kitchen: 15×10 (main floor)
• Living room: 21×12 (main floor)
• Dining room: 16×12 (main floor)

This 5-bedroom Victorian row house at 58 E. Elm in the Gold Coast came on the market in October 2020.

Built in 1883, the row house is on a smaller than standard Chicago lot measuring 16 x 103.

It has a unique rear coach house with an oversized 1-car garage.

The house has some of its vintage features including 10′ ceilings, a center stairway with skylights, hardwood floors, crown molding and 4 working fireplaces.

The main floor has the living room, separate dining room and an eat-in kitchen which has white cabinets, quartz counter tops, a subway tile backsplash, and Subzero, Bosch and Wolf stainless steel appliances.

The kitchen also has a unique glass conservatory that overlooks the back landscaped gardens and coach house.

The baths have been remodeled and feature tile and fixtures by Ann Sacks and Waterworks along with custom vanities and Kohler tubs.

In the main house, two bedrooms are on the second floor, along with 2 baths, and two bedrooms, including the primary, are on the third floor.

The primary is en suite with a walk-in-closet.

The lower level has a family room with  a wet bar, a second kitchen with white cabinets, a full bath and laundry room.

The lower level also has separate entrances.

There are front and rear English gardens with terracotta terraces.

The listing says there is new electrical and copper plumbing upgrades.

The coach house has 1-bedroom with a full bath and a sitting room.

I can’t tell from the listing if either the house or the coach house has central air.

This house is on a tree-lined street near Oak Street Beach and all the shops and restaurants of the Gold Coast and Mag Mile.

Originally listed in October 2020 for $2,395,000, it has been reduced $100,000 to $2,295,000.

Is this an ideal property for someone to work from home or have an artist studio in that coach house?

Sarah Taich and Jame Taich at Baird & Warner have the listing. See the pictures and floor plan here.

58 E. Elm: 5 bedrooms, 6 baths, 3570 square feet, row house and coach house

• Sold in August 2001 for $1.52 million
• Sold in November 2004 for $2.12 million
• Sold in June 2005 for $1.95 million
• Sold in May 2007 for $2.065 million
• Sold in September 2010 for $1,787,500
• Originally listed in October 2020 for $2,395,000
• Reduced
• Currently listed at $2.295 million
• Taxes of $31,588
• Central Air? (I can’t find if it and the coach house have it)
• 1-car garage
• 1-bedroom/1 bath coach house
• 16×103 lot
• Bedroom #1: 17×16 (third floor)
• Bedroom #2: 12×16 (third floor)
• Bedroom #3: 12×15 (second floor)
• Bedroom #4: 16×22 (second floor)
• Bedroom #5: 9×9 (second floor coach house)
• Living room: 16×18 (main floor)
• Dining room: 13×14 (main floor)
• Kitchen: 13×20 (main floor)
• Second kitchen: 13×11 (lower level)
• Family room: 15×21 (lower level)
• Terrace: 15×22
• Terrace: 15×15

This 6-bedroom Victorian at 341 W. Belden in East Lincoln Park came on the market in May 2021.

Built in 1874, this single family home is on a larger than standard Chicago lot measuring 30 x 125.

It does not have a garage but does have 3 coveted parking spots behind the house on the alley.

The house doesn’t appear to have many of its vintage features other than bay windows, high ceilings and hardwood floors.

It has two gas fireplaces.

The kitchen has white cabinets, granite counter tops and luxury stainless steel appliances.

It has a formal dining room, a main floor family room and a second floor recreation room.

Three of the 6 bedrooms are on the second floor with the other three on the third floor, including the primary bedroom.

There’s a rooftop deck on the third floor.

The house has a landscaped backyard which includes gardens and a stone patio.

It also has central air and skylights.

This house is just 2 blocks to Lincoln Park and is near the Clark shops and restaurants.

Listed at $1.995 million, is this an ideal East Lincoln Park family home?

Joanne Nemerovski at Compass has the listing. See the pictures here (sorry- no floor plan.)

341 W. Belden: 6 bedrooms, 4.5 baths, no square footage listed

• Sold in August 1993 for $545,000
• Originally listed in May 2021 for $1.995 million
• Currently listed at $1.995 million
• Taxes of $37,058
• Central Air
• Lot measuring 30×125
• 2 gas fireplaces
• 3 outdoor parking spaces
• Skylights
• Bedroom #1: 17×15 (third floor)
• Bedroom #2: 14×10 (third floor)
• Bedroom #3: 14×9 (third floor)
• Bedroom #4: 15×12 (second floor)
• Bedroom #5: 13×12 (second floor)
• Bedroom #6: 13×8 (second floor)
• Living room: 21×14 (main floor)
• Dining room: 16×13 (main floor)
• Kitchen: 21×9 (main floor)
• Recreation room: 22×22 (second floor)
• Family room: 15×15 (main floor)
• Pantry: 7×4 (main floor)
• Deck: 18×15 (third floor)

The bull housing market just keeps charging along in Chicago as inventory remains tight and buyers are still in the market in decade high levels.

From the Illinois Association of Realtors:

In the city of Chicago, home sales (single-family and condominiums) in June 2021 totaled 3,767 homes sold, up 81.8 percent from June 2020 sales of 2,072 homes.

The median price of a home in Chicago in June 2021 was $351,500, up 6.8 percent compared to June 2020 when it was $329,000.

Reminder: that last June as the lowest June for sales in 9 years so year-over-year comparisons are going to be skewed.

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: 3767

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: $351,500

“Last month, we saw many trends continue to play out, including increased closed sales and median sales prices, but the decrease in inventory and days on market could be telling a new, interesting story,” said Nykea Pippion McGriff, president of the Chicago Association of REALTORS® and vice president of brokerage services at Coldwell Banker Realty. “Some first-time homebuyers are struggling to find a home in this market while move-up buyers may be more cognizant of their budgets because of the pandemic, potentially causing them to stay in their current home; this is straining inventory further and causing buyers to jump on well-priced homes, decreasing market time. If you are considering selling your home, now is the time to call your REALTOR®!”

Inventory remains tight.

Statewide inventory fell 37.6% to 28,289 from 45,321 properties.

In Chicago it only fell 6.3% to 8,226 from 8,779 home last year.

“While prices are forecast to continue to grow on both an annual and month-to-month basis in both Chicago and Illinois, the month-to-month sales are forecast to drop slightly reflecting the continued tightening of housing inventory,” said Geoffrey J.D. Hewings, emeritus director of the Regional Economics Applications Laboratory (REAL) at the University of Illinois. “Inventory supply declined to 1.7 months in Illinois and 1.5 months in Chicago – both half of the levels recorded one year ago.”

Condos remain red hot. They boosted the month again with 2560 condos selling versus 1207 single family homes.

The condo sales were up 97.1% year-over-year.

As you can see from the list above, June is normally one of the strongest months for closings of the year. The spring buyers close on properties during that month.

But this June was exceptionally hot.

The average 30-year mortgage rate remained low at 2.97%, up from 2.95% in May but down from 3.02% in June 2020.

Should developers seriously consider building more condos given the demand?

Summer housing market speeds up in June as prices rise and inventory thins [Illinois Association of Realtors, Press Release by Stephanie Sievers, July 22, 2021]

This 2-bedroom in Park Place Tower at 655 W. Irving Park in Lakeview came on the market in July 2021.

Built in 1973, Park Place Tower is one of the tallest buildings on the north side of the city.

It has 901 units and garage parking.

It’s a full amenity building with “resort style living” with “24 hour concierge, package receiving, gym, yoga room, Olympic sized pool, sundeck with grills, outdoor basketball court, party room, movie theater, business center, bike storage, grocery store, on-site maintenance, and on-site laundry room.”

This unit is on the 41st floor and has northeast lake and harbor views.

The listing says it was “newly renovated” with 2018 and 2021 updates.

The kitchen has white cabinets that have been “refinished”, what looks like granite counter tops, stainless steel appliances and a breakfast bar.

The bedrooms have new hardwood floors.

The bathroom has a new vanity and faucet.

This unit has central air, but no in-unit washer/dryer. There’s a laundry room in the building.

It does including one deeded parking space.

Listed at $230,000 for 850 square feet, is this unit a good option for someone who is now working-from-home?

Nicole Kolkin at @Properties has the listing. See the pictures and floor plan here.

Unit #4104: 2 bedrooms, 1 bath, 850 square feet

• Sold in January 2005 for $258,000
• Sold in December 2018 for $208,000
• Currently listed at $230,000 (includes garage parking)
• Assessments of $777 a month (includes heat, A/C, doorman, cable, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $4313
• Central Air
• No Washer/dryer in the unit. Laundry room in the building
• Bedroom #1: 17×12
• Bedroom #2: 8×12
• Living/dining: 12×21
• Kitchen: 7×11
• Foyer: 5×8

While Chicago housing sales have jumped to 15-year highs city wide, one of the slowest neighborhoods has been downtown.

Downtown was the epicenter of the looting/protests and pandemic shutdowns over the last year with many restaurants and retail stores shut or boarded up during this time.

Was it “over” for downtown?

How many years would it take to recover? If ever?

And what would happen to downtown real estate, where inventory jumped to over 30 months during 2020?

Crain’s has an update.

A suburban couple on Friday paid almost $6.7 million for a condominium at the St. Regis Chicago on Wacker Drive, another sign that big-money buyers are coming back into the downtown condo market.

While several multimillion-dollar units at the recently completed tower designed by Studio Gang have been under contract since years before the twin 2020 crises of pandemic and social unrest walloped the downtown condo market, these buyers put the unit under contract in April, as recovery was taking root.

They are not the only ones. In the past couple of months, seven condos have sold for $4 million-plus condos in downtown neighborhoods where the buyers put them under contract in 2021.They include a Lake Shore Drive penthouse that sold in early July for $11.25 million. It had been for sale since mid-2019, but the buyers put it under contract in May.

The recent run of high net worth people buying upper-end units “evidences a strong resurgence of the downtown condo market,” said Susan Miner, a Premier Relocation agent. She represented buyers who paid $6.75 million last week for a 22nd-floor condo at No. 9 Walton. They put it under contract in May.

Crain’s goes on to say that since November, 29 buyers have put condos under contract in the St. Regis with a total value of $61 million.

The Chicago Tribune Residences haven’t started closings yet.

And One Chicago has just started marketing its 70 luxury condos on top of its 70-story tower across from Holy Name Cathedral.

Those won’t be ready for closings until next year.

Additionally, there are existing buildings that have resales on the market including The Palmolive, where the penthouse is listed for $11.9 million.

Crain’s says that there were 8 condos that sold for over $4 million in all of downtown last year.

There are already 7 this year and it’s only July.

Is downtown “back”?

Big dollar buyers are back in the downtown condo market [Crain’s Chicago Business, by Dennis Rodkin, July 20, 2021]