Crib Chatter

This penthouse 2-bedroom in Park Castle Condos at 2418 W. Greenleaf in the Indian Boundary Park neighborhood of West Ridge came on the market in December 2021.

Built in 1925, this complex was supposed to look like a castle. It overlooks Indian Boundary Park and has 68 units.

It also has one of the best indoor pools in the city. The building also has a gym.

It has leased parking.

The building has been featured on Open House Chicago:

Architect Jens J. Jensen—not to be confused with landscape architect Jens Jensen—designed this 1925 structure. The sprawling, double courtyard brick apartment building looks like a castle, with crenelations, turrets and towers. A moat-like pond was once graced by live swans. This feature has been removed, but the bridges and some retaining walls remain. Inside the complex, an extravagant indoor pool, reflecting the opulence of the era, remains one of Chicago’s best-kept secrets.

This unit is a corner unit in the tower which overlooks Indian Boundary Park.

It has 9 foot ceilings and a formal foyer.

The all white kitchen has been modernized with quartz countertops, custom white cabinets, stainless steel appliances and brush gold fixtures.

The kitchen has an oversized peninsula which seats four and is open to the formal dining room.

The kitchen has a pantry.

The bathroom still has the vintage tub.

This unit has a separate storage space.

It does not have central air or washer/dryer in the unit. There is laundry in the building. Leased parking is available for $65 a month.

Listed at $199,999, will this sell quickly?

Romulus Olariu at Royal Service Realty has the listing. See the pictures (including historic pictures of the building AND of the swans) and the floor plan here.

Unit #3: 2 bedrooms, 1 bath, 1400 square feet

• Sold in May 1984 for $68,000 (per Redfin)
• Sold in July 1986 for $68,500 (per Redfin)
• Sold in June 1988 for $78,000 (per Redfin)
• Sold in February 1994 for $95,000 (per Redfin)
• Sold in July 1995 for $100,000 (per Redfin)
• Sold in December 2000 for $153,500 (per Redfin)
• Sold in November 2014 for $107,000 (per Redfin)
• Currently listed for $199,999
• Assessments of $598 a month (includes heat, exercise room, indoor pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $1496
• No central air
• No washer/dryer in the unit
• Parking is leased for $65 a month
• Bedroom #1: 13×11
• Bedroom #2: 13×11
• Living room: 24×16
• Dining room: 16×12
• Kitchen: 12×11

This 2-bedroom at 3180 N. Lake Shore Drive in Lakeview came on the market in October 2021.

3180 N. Lake Shore Drive was built in 1958 and has 176 units.

It has 2 fitness rooms, a large deck, a parking garage and doorstaff.

Ten years ago, in 2011, we chattered about a 5-bedroom unit in this building.

The poster known as “Architect” said the following:

I like this building; it’s a well-built mid-century modern structure w/spacious units and large room sizes. The two-bedrooms have a separate diningroom, bedrooms that can easily accommodate king-size beds, true foyers, house-size livingrooms, etc. It’s laid out like an old-fashioned coop building; two units per elevator bank is a luxury rarely seen in new construction. Assessments are high because the building is more expensive to operate, but purchase price is low.

This building looks like it’s transitioning from “dowager” to renovating professionals. Without that beautiful lakeview, I’d think these units are relatively good buys for long-term owner-occupants looking for spacious living quarters. Compare this building’s two-bedroom units to those puny new-construction dorm-like condo units.

You can see that chatter here.

The listing for this unit says it has been “just remodeled.”

It has east facing views from the living/dining room of Belmont Harbor and Lake Michigan as well as west facing views from the bedrooms.

The  unit has an open concept kitchen, living and dining room.

The kitchen has white Shaker cabinets, black stainless steel appliances, and gold finishes along with an oversized quartz island with waterfall edge.

It has engineered hardwood floors throughout the main living areas.

The unit has a custom built electric fireplace in the living room and a walk-in-closet along with a new, separate laundry room with a new GE washer/dryer.

The bathrooms have marble floor tiles and the primary bath has a soaking tub while the second bathroom has a walk-in-shower.

It doesn’t have central air, but has window air conditioning units. There’s also garage parking available.

Listed at $409,000, it has been reduced $4,100 to $404,900.

Are the mid-century buildings turning over to a new generation of buyers?

Michael Dukes at Kale Realty has the listing. See the pictures, video and floor plan here.

Unit #20F: 2 bedrooms, 2 baths, 1450 square feet

• Sold in July 1980 for $115,000 (according to Redfin)
• Sold in May 2021 for $222,000
• Originally listed in October 2021 for $409,000
• Reduced
• Currently listed at $404,900 
• Assessments of $1202 a month (includes heat, a/c, electricity, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $6252 
• Window a/c
• Washer/dryer in the unit
• Garage parking available
• Electric fireplace
• Bedroom #1: 17×12
• Bedroom #2: 12×15
• Living room: 25×15
• Dining room: 12×15
• Kitchen: 10×9
• Laundry: 8×6

This 3-bedroom in 1550 on the Park at 1550 N. Clark in Old Town came on the market in March 2020.

1550 on the Park was built in 2020 and has 32 units and attached garage parking. It overlooks Lincoln Park and the Chicago History Museum.

The building has 24-hour door staff, a fitness centers, lounge, business center and individual storage.

This unit has 3809 square feet with a family room and den along with 3-bedrooms.

It has floor-to-ceiling windows and hardwood floors.

The listing says this building is built with the “highest caliber of craftsmanship” including a “state of the art”, chef-inspired O’Brien Harris kitchen with Wolf and Subzero appliance package.

The unit has “spa-inspired” baths.

It has central air, washer/dryer in the unit, and indoor self-parking with direct access to the unit, which is available for extra cost.

The unit has an oversized private terrace with Lincoln Park and lake views.

This building is near the shops and restaurants of Old Town, Lincoln Park and the Gold Coast.

Listed at $2.4 million, is this an alternative to the large downtown high rise condo buildings?

Chezi Rafaeli at Coldwell Banker has the listing. See the pictures and floor plan here.

Unit #503: 3 bedrooms, 3.5 baths, 3809 square feet

• New Construction
• Originally listed in March 2020
• Currently listed at $2.4 million
• Assessments of $2336 a month (includes heat, a/c, gas, doorman, exercise room, exterior maintenance, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Garage parking available
• Bedroom #1: 17×16
• Bedroom #2: 13×14
• Bedroom #3: 14×12
• Family room: 22×17
• Kitchen: 17×11
• Living room: 33×16
• Den: 11×16
• Walk-in-Closet: 17×11
• Laundry room: 12×9
• Porch: 32×8

This new construction 4-bedroom duplex down at 1845 N. Sedgwick in East Lincoln Park came on the market in October 2021.

This 4-unit building was constructed in 2021 on a wider-than-average Chicago lot measuring 36 feet by PLD Homes.

It has an elevator and an attached heated garage.

This unit has an open floor plan with the kitchen, dining room and living room on the main level along with 3 of the 4 bedrooms.

It has built-in bookcases and a fireplace in the living room.

The kitchen has white cabinets, luxury appliances by Subzero and Wolf, a wine refrigerator, quartz counter tops and a large island.

It has a NanaWall spanning the width of the building.

There are 2.5 bathrooms on the main floor.

The primary suite is also on the main floor and has a “spa-like” en suite bathroom with heated floors, steam shower, double vanity and free-standing soaker tub.

The lower level has a “second living room”, the fourth bedroom and a third full bath.

There is a side-by-side washer/dryer and central air as well as a garage space.

The unit has two outdoor spaces including a large walk-out terrace and a private roof deck above the garage.

Listed in October 2021 for $1.7 million, is this a single family home alternative in this neighborhood?

Patrick Teets at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #1: 4 bedrooms, 3.5 baths, no square footage listed, duplex down

• New Construction
• Listed in October 2021 for $1.7 million
• Currently still listed at $1.7 million
• Assessments of $375 a month (includes scavenger)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Garage parking included
• Elevator building
• Fireplace
• Bedroom #1: 14×12 (main level)
• Bedroom #2: 12×11 (main level)
• Bedroom #3: 12×11 (main level)
• Bedroom #4: 12×10 (lower level)
• Living/dining room combo: 27×19 (main level)
• Kitchen: 13×8 (main level)
• Laundry room: 8×6 (main level)
• Walk-in-closet: 14×8
• Recreation Room: 26×13 (lower level)

This new construction 3-bedroom in 1400 Monroe at 1400 W. Monroe in the West Loop was recently listed in October 2021.

1400 Monroe is a boutique elevator building constructed in 2021 which has 42 units and attached garage parking.

It has 2 bedroom, 3 bedroom and 5 bedroom units.

The building has a package reception system, a dog washing station, cold storage for grocery delivery and storage lockers but no door staff.

This unit has an eastern exposure and loft style windows.

The listing says the interiors were done by MoJo Stumer in a modern style.

The kitchen has white and wood cabinets along with an island that seats 4.

There’s a separate dining room.

The primary bedroom has a walk-in-closet and en suite bath with walk-in-shower and double floating vanity.

The two other bedrooms share the other full bath which has a bathtub.

There’s also a powder room.

The unit has the features buyers look for including central air, washer/dryer in the unit and garage parking is available in the building.

It also has a 5×21 balcony.

This building is across from popular Skinner Park.

Is this area of the West Loop going to be the next area to see trendy restaurants, shops and cafes move in as more new construction goes up?

Christine Lutz and Regina Castle at Wolf Residential Group has the listing. You can see the pictures, video and 3D Interactive walk-through here.

You can also see the floor plan on the 1400 Monroe website here.

Unit #3F: 3 bedrooms, 2.5 baths, 1669 square feet

• New Construction
• Currently listed for $1,009,000
• Assessments of $416 a month (includes exterior maintenance, scavenger, snow removal)
• Taxes are “new”
• Central Air
• Washer/dryer in the unit
• Garage parking is available for extra
• Bedroom #1: 14×11
• Bedroom #2: 10×11
• Bedroom #3: 10×10
• Living room: 13×21
• Dining room: 13×10
• Kitchen: 14×10
• Gallery: 5×16
• Walk-in-closet: 6×7
• Walk-in-closet: 6×7
• Balcony: 5×21

This 1-bedroom in the St Regis Residences at 363 E. Wacker Drive in Lakeshore East came on the market in September 2021.

The St Regis Residences (also still called Vista Residences by some, including this listing), was designed by Jeanne Gang of Studio Gang and built in 2021.

It has 101 stories with 406 condo units and a 192 room luxury hotel, the St Regis Chicago.

It’s a full-service building with door staff, valet garage parking, package service, an outdoor pool, exercise room, party room, dog exercise area, private wine storage and wine tasting room.

This unit is on the 39th floor and has a south facing view down Du Sable Lake Shore Drive with views of the Lake, the city skyline, the Field Museum and Soldier Field.

At 1,126 square feet, it has wide plank hardwood floors throughout and a powder room.

The kitchen has Snaidero white and wood modern cabinets, Gaggenau and Thermador appliances and an island with cantilever countertops.

The full bath has a double vanity and walk-in-shower.

There is also a walk-in-closet.

It has side-by-side washer/dryer, central air and valet garage parking is included.

Lakeshore East continues to build out, but has become a popular downtown neighborhood, especially as there is now a path to the Riverwalk.

For those who love views, and want the amenities of a luxury hotel in the building, is the St Regis the perfect combination?

Jenny Fultz at Jin’s Group Corp. has the listing. See the pictures here.

Unit #3905: 1 bedroom, 1.5 baths, 1126 square feet

• New construction
• Originally listed in September 2021 for $1,049,000
• Still listed at $1,049,000
• Assessments of $608 a month (includes heat, a/c, doorman, exercise room, pool, scavenger, Internet)
• Taxes are “new”
• Central Air
• Side-by-side washer/dryer
• Valet garage parking included
• Bedroom: 15×12
• Living/dining room combo: 18×16
• Kitchen: 19×10

This 1-bedroom in the Tribune Tower Residences at 435 N. Michigan in Streeterville came on the market in Sept 2021.

The Tribune Tower Residences is a conversion of the Chicago Tribune building which was built in 1925 in the neo-Gothic style.

It is landmarked.

The building has 36 floors and 162 units. The marketing brochure says there are 56 different floor plans in the building.

The building has 55,000 square feet of amenity space, including a 7th floor all-season rooftop pool that is enclosed but has doors that open during the summer weather, lounging area and grills.

It has a library, party room, exercise room, indoor golf practice area, a private 1/3 acre park, and the amazing Crown Terrace with flying buttresses, which also has grills.

It has two entrances, with door staff, package delivery and an attached parking garage.

This unit was already sold and has come back on the market as a re-sale.

It’s a south facing 1703 square foot 1-bedroom with wide plank white oak wood floors.

The kitchen has custom white cabinets with Subzero, Wolf and Miele appliances, and a large kitchen island with seating for three.

It has a separate dining room and a powder room.

The bedroom has a 12×8 walk-in-closet and a 12×11 en suite bathroom.

It has all the features buyers look for including central air, washer/dryer in the unit and attached garage parking.

There’s no private outdoor space, however.

This unit sold from the developer in August 2021 for $1,625,295 and has been re-listed for $1.995 million.

Apparently the building is already about 50% sold.

Is Tribune Tower Residences on its way to becoming the premier luxury condo building in the city?

Chezi Rafaeli at Coldwell Banker has the listing. See the pictures here.

Unit #701: 1 bedroom, 1.5 baths, 1703 square feet

• New construction
• Sold in August 2021 for $1,625,295
• Listed in September 2021 for $1.995 million
• Currently still listed at $1.995 million
• Assessments of $1,347 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes are “new”
• Central Air
• Side-by-side washer/dryer in the unit
• Foyer: 7×6
• Bedroom: 21×14
• Dining room: 11×10
• Kitchen: 15×10
• Walk-in-Closet: 12×8
• Primary Bathroom: 12×11

The pandemic is bringing a lot of work/life changes, including work-from-home.

Downtown Chicago, especially the Loop, has historically been dominated by commercial office buildings and retail, but over the past 30 years there’s been a push to move residential into the neighborhood.

In the 1990s, old commercial buildings were converted into condos or apartments, but according to Crain’s, with all the empty commercial space thanks to the pandemic, that trend could be accelerating.

In mid-November, the National Association of Realtors reported that Chicago has the third-highest potential among big U.S. cities for office-to-residential conversions. The reason: Office vacancy is high and rents are falling, while apartment vacancy is low and rents are rising.

Between 2010 and 2020, the population grew by more than 44% in the Loop (including the Lakeshore East neighborhood north of Millennium Park), according to a study from the Chicago Loop Alliance. In the same period, the population of the city overall grew by about 1.9%.

Leading the return in the 1990s and early 2000s were affluent empty nesters looking to live near arts institutions and restaurants. Converted former office buildings along Michigan Avenue, including the former homes of Montgomery Ward, Encyclopedia Brittanica and Crane Plumbing, accommodated them, and featured park and lake views.

Now it’s often younger adults who want to live downtown, Edwards says. “They don’t want to own a car or they don’t want to use the car,” he says. “They want to walk to work, walk to dinner.”

Can downtown finally morph into a cool, hip residential neighborhood?

And if so, will condos see a renaissance in some of the conversions?

In 2003-2008 numerous downtown buildings were converted into condos, including The Metropolis at 8 W. Monroe.

Here’s more about the building from the condo association website:

Metropolis Condominiums is located in a building known as the North American Building that was built in 1912 and designed by Holabird and Roche Architects.

The terracotta details and massive scale make this building a fine example of neo-gothic architecture, giving the impression of a fifteenth century cathedral standing as the gateway between Chicago’s historic retail and financial districts.  Original elaborate ornamentation, including four foot terracotta owls perched atop the building, decorate the exterior.

The building saw a lot of investor purchases during the housing boom, and a lot of foreclosures.

But what’s happening now?

This 16th floor corner unit with city and lake views came on the market in June 2021.

The listing says this is the largest floor plan in the building at 1300 square feet.

It has 12 foot ceilings and large windows, including in both bedrooms.

The primary suite has 2 closets and an en suite bathroom with a soaking tub and separate shower.

The kitchen has wood cabinets, granite counter tops and backsplash and stainless steel appliances. It has a breakfast bar with seating for 2.

The main living space has hardwood floors and the bedrooms have carpet.

The unit has the features buyers look for including central air, washer/dryer in the unit and valet garage parking is available in the building for $13,000.

The building has a doorman, exercise room, party room and shared terrace with grills.

Originally listed in June 2021 for $349,000, it has been reduced $4,000 to $345,000.

It’s in the middle of everything going on in the Loop and Millennium and Grant Parks and is a rare building that has attached parking.

Is it time to buy again in the Loop?

Sima Shah at Maroon Realty has the listing. It is agent-owned. See the pictures here.

Unit #1604: 2 bedrooms, 2 baths, 1300 square feet

• Sold in June 2006 for $473,000 (included the parking)
• Lis pendens foreclosure filed in October 2009
• Bank owned in May 2011
• Sold in April 2012 for $212,500 (included the parking)
• Originally listed in June 2021 for $349,000
• Reduced
• Currently listed at $345,000 (plus $13,000 for valet garage parking)
• Assessments of $836 a month (includes heat, a/c, gas, doorman, exterior maintenance, exercise room, scavenger and Internet)
• Taxes of $7365
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 11×14
• Bedroom #2: 9×12
• Living/dining room combo: 14×21
• Kitchen: 8×9

The October sales numbers are out from the Illinois Association of Realtors and the market continues to remain strong, with the second highest October sales since 2006.

In the city of Chicago, home sales (single-family and condominiums) in October 2021 totaled 2,417 homes sold, down 5.9 percent from October 2020 sales of 2,568 homes.

The median price of a home in Chicago in October 2021 was $312,000, down 1.0 percent compared to October 2020 when it was $315,000.

Thanks to G for all the data on October sales going back to 1997:

October Chicago sfh/condo/th sales and median

• 1997 1,731 $129,900
• 1998 1,855 $138,000
• 1999 1,978 $159,500
• 2000 2,106 $174,710
• 2001 2,177 $200,000
• 2002 2,503 $215,000
• 2003 2,996 $236,000
• 2004 2,651 $241,000
• 2005 2,846 $268,500
• 2006 2,630 $278,000
• 2007 2,007 $285,000
• 2008 1,564 $261,000
• 2009 2,068 $215,000
• 2010 1,225 $183,000
• 2011 1,324 $162,000 (44% short/REO sales)
• 2012 2,009 $175,000
• 2013: 2,231 $218,500
• 2014: 2,128 $236,000
• 2015: 2,173 $240,000
• 2016: 2,046 $260,100
• 2017: 2,109 $260,000
• 2018: 2,108 $271,500
• 2019: 2,084 $275,000
• 2020: 2,568 $315,000
• 2021: 2,417 $312,000

“Real estate has always had an element of seasonality, and that’s what the data reflects from October: seasonality coming back into play after so much pent-up demand over the past year and a half,” said Antje Gehrken, president of the Chicago Association of REALTORS® and president and designated managing broker of A.R.E. Partners. “The market remains relatively strong and healthy, even compared to before the pandemic, despite concerns about continued inventory strain.”

The average days on the market declined statewide to 28 days from 43 days last year.

While average days on the market in Chicago actually rose 2.9% to 35 days from 34 days last year.

Statewide, and in City of Chicago, inventory plunged year-over-year.

Statewide, home inventory fell 28.7% to 29,456 from 41,320 properties. In Chicago, it fell 25.1% to 8,315 from 11,099 properties last year. In October 2019, it was 10,138 properties.

The Chicago sales mix continued to favor condos. Of total sales, 1,426 were condos and 991 were single family homes.

Single family homes fell 12.8% year-over-year and, for the first time in a year, condo sales also fell year-over-year, down 0.3%.

The average 30 year mortgage rose to 3.07% in the month, up from 2.9% in September and also up from 2.83% last year.

Low inventory appears to be pressuring prices statewide.

“Again, this month the market exhibits positive growth in prices combined with a decline in the number of sales,” said Dr. Daniel McMillen, head of the Stuart Handler Department of Real Estate at the University of Illinois at Chicago College of Business Administration. “Surveys provide mixed evidence on consumer sentiment, with some indicating an increase this month in consumer confidence in the economy and others indicating a decrease. Prices are expected to continue to increase for the next three months while the number of sales is expected to decrease again.”

The winter has historically been the “slow” months for the housing market, except last year, in 2020, due to pandemic buying.

Will this be the second year in a row that there is no real seasonal slowdown in sales?

Illinois homes continue to sell quickly in October [Illinois Association of Realtors, Press Release by Bill Kozar, November 22, 2021]

This 2-bedroom loft in Park 1500 Lofts at 1500 W. Monroe in the West Loop came on the market in August 2021.

Park 1500 Lofts was converted into 175 loft condos in 2002.

It has an attached garage and door staff.

This loft has 14 foot timber ceilings and large industrial windows.

It has mahogany hardwood floors in the living/dining room and kitchen with carpet in the bedrooms.

The loft has a “chef’s kitchen” with white Shaker cabinets, stainless steel appliances, tiled backsplash and a large island.

The loft has a cocktail station and fireplace.

The listing says both bedrooms can fit kingsized beds.

The smaller bedroom doesn’t have a door, nor full ceilings, but it does have a window.

The primary bedroom also has a window, which is not always guaranteed in an industrial loft, and a wood bedroom wall.

The bathroom has new light fixtures, mirror and quartz counter tops on the vanity.

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

It also has a balcony.

This loft was originally listed in August 2021 for $355,000 and has been reduced to $329,000. The listing also says the seller is offering a $2K credit.

With many working from home full-time, will buyers be seeking out the 2/1 floor plans versus the 1/1s so they have space for an office?

Will 2/1 units be back in vogue?

Ebonie Andrews at Redfin has the listing. See the pictures and 3D walkthrough here.

Unit #207: 2 bedrooms, 1 baths, 1070 square feet, loft

• Sold in May 2002 for $178,000
• Originally listed in August 2021 for $355,000
• Reduced
• Currently listed at $329,000 (includes garage parking)
• Assessments of $375 a month (includes doorman, snow removal, exterior maintenance, lawn care)
• Taxes of $5125
• Central Air
• Washer/dryer in the unit
• Seller providing $2K credit
• Fireplace
• Bedroom #1: 14×17
• Bedroom #2: 10×10
• Living/dining combo: 19×22
• Kitchen: 8×17
• Laundry: 12×3
• Balcony