Crib Chatter

The Illinois Association of Realtors is out with the March sales.

We already know from Gary’s updates on his blog that March was red-hot.

But what you might not remember was that LAST March was also strong, with the median home price rising 10%.

Last spring’s housing market was already heating up before COVID hit.

In the city of Chicago, home sales (single-family and condominiums) in March 2021 totaled 2,877 homes sold, up 35.5 percent from March 2020 sales of 2,123 homes.

The median price of a home in Chicago in March 2021 was $345,000, up 7.8 percent compared to March 2020 when it was $319,950.

Historic data courtesy of G:

City of Chicago condo/TH/SFH closed totals March
year/closed/median/% REO-Short Sales
Year Closed Median %REO/SS
1997 1,226 $126,875
1998 1,540 $137,003
1999 1,766 $152,125
2000 1,793 $167,500
2001 1,800 $195,000
2002 2,112 $210,000
2003 2,261 $225,000
2004 2,772 $244,950
2005 2,822 $271,125
2006 3,000 $275,862
2007 2,399 $285,000
2008 2,098 $300,000
2009 1,219 $217,000 37%
2010 1,860 $207,750 38%
2011 1,481 $163,763 49%
2012 1,630 $170,500 44%
2013 1,894 $187,500
2014 1,875 $235,000
2015 2,173 $260,000
2016 2,149 $269,000
2017 2,546 $295,000
2018 2,343 $310,500
2019 2,062 $290,700
2020 2,123 $319,950
2021 2,877 $345,000

What is striking is that the number of sales surpassed even the hottest of the housing bubble March numbers of 2004 and 2005 and trailed only 2006 for an all-time high.

“In March, the demand for homes remained high, with the condo market picking up steam, resulting in a 44.6 percent increase in sales and 2.8 percent increase in median sales price for attached homes,” said Nykea Pippion McGriff, president of the Chicago Association of REALTORS® and vice president of brokerage services at Coldwell Banker Realty.

“It’s important to work with your REALTOR® to discuss different property types to see what the best options are at your price points.”

Condo sales rose 44.6% to 1957 sales while single family home sales jumped 19.5% to 920 homes.

The single family home median price rose 22.3% to $315,000 while the median condo price gained just 2.8% to $365,000.

Statewide, inventory declined 53.2% to 23,381 homes from 49,946.

In Chicago, inventory declined 13.1% to 7,404 from 8,521 homes.

Statewide, number of days on the market fell to 46 from 62 days last year. In Chicago it fell to 44 days from 47 last year.

For the second month in a row, the average 30-year mortgage rate actually rose month-over-month to 3.08% from 2.81% in February.

It was still below the March 2020 rate of 3.45%.

“The housing sector recorded strong month-to-month and year-over-year changes in March in both sales and prices,” said Geoffrey J.D. Hewings, emeritus director of the Regional Economics Applications Laboratory at the University of Illinois.

“The main concern in the coming months will be the low inventory levels, currently 1.5 and 1.3 months at current sales rates in Illinois and Chicago respectively. The strong growth in the pending sales index suggest that demand remains strong with buyers facing a very competitive market.”

March 2021 seems to have taken the Chicago housing market to the next level.

But with inventory at record lows, will sales growth stall in the coming months?

Where does the market go from here?

Illinois home sales and prices shift higher in March [Illinois Association of Realtors, Press Release, April 22, 2021]

This 6-bedroom single family home at 2902 N. Burling in Lakeview came on the market in August 2020.

Built in 2019, this modern, contemporary home is on a double lot measuring 52×140.

The house has a brick, stucco, stone and limestone exterior and a professionally landscaped lot including mature trees.

It has heated double connected garages for 4 cars.

The house has some unique features, including a 5-level window wall and an elevator.

It has hardwood floors throughout.

There are 4 fireplaces.

The finishes are all done in the modern style including the kitchen which has luxury stainless steel appliances and an island, as well as a breakfast bar.

There’s also an attached breakfast room.

The primary suite is on the third floor and it has a massive master bathroom with a tub and shower that appears to measure about 31×9 as well as a huge walk-in-closet with built-in organizers that is 13×20.

3 of the other bedrooms are on the second floor.

The fifth bedroom is in the lower level along with the laundry room, the exercise room, the theater room and a second kitchen that is also outfitted with modern cabinets and a large island.

The sixth bedroom is on the third floor, along with the primary suite.

There’s a family room on the main level, off the kitchen.

Looking for a study? That’s on the third floor.

There’s also a game room on the second floor.

The house has a custom 12 foot chandelier.

Looking for outdoor space? It has 4 walk-out decks, including an outdoor kitchen.

One of the decks appears to be a rooftop deck, which has not been built out.

Listed in August 2020 at $6.28 million, it remains priced at $6.28 million.

In this hot housing market, will they get their price?

Linda Marcus at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plans here.

2902 N. Burling: 6 bedrooms, 6 baths, 2 half baths, 10,500 square feet, single family home

• I don’t know a prior sales price as it was new construction in 2019
• Originally listed in August 2020 for $6.28 million
• Currently still listed at $6.28 million
• Taxes of $64,513
• Central Air
• Heated double connected garages for 4 cars
• 4 fireplaces
• Elevator
• 4 decks
• Outdoor kitchen
• 12 foot chandelier
• Bedroom #1: 17×18 (third floor)
• Bedroom #2: 14×19 (second floor)
• Bedroom #3: 17×17 (second floor)
• Bedroom #4: 13×23 (second floor)
• Bedroom #5: 16×20 (lower level)
• Bedroom #6: 14×17 (third floor)
• Living room: 17×18 (main floor)
• Family room: 18×20 (main floor)
• Dining room: 15×17 (main floor)
• Kitchen: 16×17 (main floor)
• Laundry room: 15×16 (lower level)
• Breakfast room: 7×15 (main floor)
• Study: 13×20 (third floor)
• Game room: 20×33 (second floor)
• Exercise room: 12×17 (lower level)
• Theater room: 17×25 (lower level)
• Second kitchen: 16×25 (lower level)

This 1-bedroom in Chicago Place at 100 E. Huron in River North came on the market in April 2021

Chicago Place was constructed in 1991 and has 204 units and commercial space on the first 10 floors.

It has an attached rental parking garage.

It’s a full amenity building with doormen, an exercise room and an indoor pool just off the Mag Mile.

If this unit looks familiar, that’s because we chattered about it when it was last on the market in October 2017.

It had just been completely renovated and was on the market for the first time since 1993.

See our chatter here.

If you recall, it has custom oak floors throughout and crown molding.

The kitchen was renovated in the last sale and has white cabinets, stainless steel appliances and white counter tops along with a breakfast bar.

There are French doors to the master bedroom where it also has a master bath that has also been renovated.

The unit also has a half bath.

It has upscale appliances throughout the unit by Bosch, FisherPaykel and Toto.

But the real selling point of this unit is still the private 385 square foot west-facing terrace.

It is landscaped and has what looks to be wood decking, which even the building’s own terrace doesn’t have.

There’s also a pergola.

I believe there are only 2 terraces on this level and a few on one of the upper levels so outdoor space is rare in this building.

Listed in October 2017 at $615,000, it ended up selling in February 2018 at $530,000.

It has come back on the market in 2021 at $599,000.

Will it get the premium?

Julie Harron at Jameson Sotheby’s has the listing. See the pictures and floor plan here.

Unit #1107: 1 bedroom, 1.5 baths, 1045 square feet

• Sold in January 1991 for $186,000
• Sold in November 1993 for $258,000
• Sold in February 2018 for $530,000
• Listed in April 2021 at $599,000
• Currently still listed at $599,000
• Assessments are now $774 a month (they were $673 a month in 2017)(includes heat, a/c, doorman, exercise room, pool, scavenger, cable)
• Taxes are now $7783 (they were $6055 in 2017)
• Parking is rental in the building
• Central Air
• Washer/Dryer in the unit
• Bedroom: 12×17
• Living/dining combo: 16×24
• Kitchen: 11×14
• Terrace: 10×38

This 4-bedroom full floor condo at 545 W. Stratford Place in East Lakeview came on the market in October 2020.

Built in 1913, 545 W. Stratford has 4 units with a shared yard and common storage.

It’s a rare vintage boutique elevator building where the elevator opens directly into the foyer.

This unit has 4 exposures.

The living room has a marble gas fireplace and there’s a sunroom off the front of the unit that overlooks the street.

It has a formal dining room which appears to be one of the few rooms with hardwood floors.

Most of the other main living spaces have carpet.

The listing says the unit has a “newer” eat-in Chef’s kitchen with white cabinets, a farmhouse sink and porcelain floors along with stainless steel appliances and what look like stone counter tops.

It has 4 large bedrooms with two connected by a Jack and Jill bathroom.

The primary suite has a study and a private sunroom.

The listing says the fourth bedroom is used as a family room and it opens onto the 10×38 private, landscaped terrace.

The unit has the features that buyers look for including space pak cooling and washer/dryer in the unit in a large laundry room with built-ins.

The only thing it’s missing is parking but the listing says rental parking is available nearby.

This building is located in a prime East Lakeview location near shops, restaurants and the lake front.

From the CCRD and Redfin, it appears the last sale for this property was in 1986.

Originally listed in October 2020 at $1.075 million, it remains listed at $1.075 million.

What’s holding back a sale on this property?

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

Unit #2: 4 bedrooms, 3.5 baths, 3650 square feet

• Sold in June 1986 for $257,500 (per Redfin as the CCRD doesn’t list a price)
• Originally listed in October 2020 for $1.075 million
• Currently still listed at $1.075 million
• Assessments of $1,025 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $14,341
• Space Pak cooling
• Washer/dryer in the unit
• Marble gas fireplace
• No parking- rental in the neighborhood
• Full floor
• Bedroom #1: 16×12
• Bedroom #2: 15×17
• Bedroom #3: 16×13
• Bedroom #4: 15×11
• Study: 7×12
• Sitting room: 13×10
• Foyer: 10×11
• Sunroom: 14×9
• Living room: 19×20
• Dining room: 16×20
• Kitchen: 12×16
• Laundry room: 17×10
• Landscaped terrace: 38×10

This 3-bedroom townhouse at 1818 N. Dayton in Lincoln Park came on the market in March 2021.

Built in 1981 (although one listing said 1978) it has 41 units around a cobblestone courtyard.

This is an end unit and has a first floor attached one car garage.

The first floor also includes a bonus room that leads to a fenced in outdoor space.

There’s also a powder room on the first floor.

The second floor has the living room, dining room, kitchen and a second powder room.

The living room has a wood burning fireplace with blue lacquered built-ins.

The kitchen has been renovated with white custom cabinets, stone counter tops, stainless steel appliances and a white tile backsplash as well as an island with a gray cabinet base.

The kitchen is open to the dining room.

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

The primary suite has a walk-in-closet as well as an en suite bath with a dual vanity.

The listing says the townhouse has a new roof and mechanicals.

The townhouse is located near the shops and restaurants of Armitage and Halsted, as well as North & Clybourn.

Originally listed at $850,000 in March 2021, it has been reduced to $835,000.

Is this living the Lincoln Park dream, without the million dollar price tag?

Alexandra Solak at @Properties has the listing. See the pictures and floor plan here.

You can see it at the Open House on Sunday, April 18 from 10:30 am to 12:00 pm.

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

• Sold in December 1987 for $251,000
• Sold in August 1993 for $246,000
• Sold in December 1997 but I couldn’t find a price
• Sold in April 2002 for $425,000
• Sold in August 2008 for $650,000
• Sold in December 2018 for $500,000
• Originally listed in March 2021 for $850,000
• Reduced
• Currently listed at $835,000
• Assessments of $393 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $11,536
• Central Air
• 1 car attached garage
• Wood burning fireplace
• Bedroom #1: 14×13 (third floor)
• Bedroom #2: 15×9 (third floor)
• Bedroom #3: 11×9 (third floor)
• Walk-in-closet: 13×4 (third floor)
• Living room: 18×14 (second floor)
• Dining room: 11×10 (second floor)
• Kitchen: 14×9 (second floor)
• Laundry room: 5×8 (second floor)
• Family room/Bonus room: 15×13 (main floor)

This 4-bedroom Wabansia Row townhouse at 2342 W. Wabansia in Bucktown came on the market in July 2020.

Wabansia Row was built in phases. This particular townhouse was built in 2002 in the first phase, but the second phase was built as late as 2010.

There are 11 units in this phase along with attached garage parking.

This townhouse has an entry on the second floor which has the living room, dining room, kitchen, breakfast room and powder room as well as one of two decks.

There are hardwood floors throughout the second floor and a fireplace.

The eat-in kitchen has white cabinets, granite counter tops, stainless steel appliances along with a breakfast bar with seating for two.

There are two bedrooms, both en suite, on the third floor.

The primary suite is on the top, or fourth floor, which has an en-suite “spa bath” with dual vanity, whirlpool tub and separate shower, along with 2 walk-in-closets.

It appears that the second deck is on this level.

The listing says there is a “rooftop deck” with Trex decking but is that appears to be the deck on the fourth level.

The fourth bedroom is in the lower level, along with another full bath, but the listing says it’s currently being used as a family room.

The townhouse has central air and 2-car garage parking.

It is near the 606 Trail and the shops and restaurants of Bucktown.

Originally listed in July 2020 for $850,000, it continues to be listed at $850,000.

Is this a deal for a 3158 square foot townhouse in this neighborhood?

Dennis Huyck at KellerWilliams ONEChicago has the listing. See the pictures here (no floor plan).

Unit B: 4 bedrooms, 4.5 baths, 3158 square feet, townhouse

• Sold in May 2003 for $630,000
• Sold in June 2004 for $716,500
• Sold in November 2006 for $745,000
• Originally listed in July 2020 for $850,000
• Currently still listed at $850,000
• Assessments of $375 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $16,067
• Central Air
• 2 decks
• 2 car garage parking
• Bedroom #1: 14×14 (fourth floor)
• Bedroom #2: 14×14 (third floor)
• Bedroom #3: 14×12 (third floor)
• Bedroom #4: 16×11 (main floor)
• Living room: 16×12 (second floor)
• Dining room: 14×12 (second floor)
• Family room: 14×10 (second floor)
• Kitchen: 10×10 (second floor)
• Breakfast room: 14×10 (second floor)

This 2-bedroom duplex up at 2052 W. North Avenue in Bucktown came on the market in April 2021.

Built in 2004, the building has 8 units and parking.

According to a chatter from 2010, this building used to have some covered, but also some uncovered, parking as well as 4 visitors parking spaces.

The listing doesn’t say if the visitors parking spots remain available.

This unit has the living/dining room, the kitchen and a half bath on the main level.

The unit has dark hardwood floors (if you remember from our 2010 chatter, this building had unique stripped cherry floors. See the pictures from the prior sales of this unit).

The listing describes the kitchen as a “chef’s kitchen” with wood cabinets, stone counter tops, stainless steel appliances and a wine chiller.

There’s a gas fireplace in the living room.

The unit has a floating staircase which leads to the two bedrooms and 2 full baths.

The primary bedroom is en suite with a Jacuzzi tub, separate shower with body sprays, a double vanity and heated floors and has 2 walk-in-closets.

The second bedroom is also en suite.

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

It does have outdoor space in a 7×4 balcony.

The building has a common rooftop deck (seen in the listing pictures).

This building is located near the epicenter of the Bucktown/Wicker Park neighborhood, within steps of the Blue line subway stop, and dozens of shops and restaurants.

Listed at $465,000, will this sell quickly?

Daniel Slivka at @Properties has the listing. See the pictures and floor plan here.

You can also see it at the open house on Saturday Apr 17 from 11:30 am to 1:30 pm.

Unit #23E: 2 bedrooms, 2.5 baths, 1300 square feet, duplex up

• Sold in January 2005 for $360,000
• Sold in May 2015 for $375,000
• Currently listed at $465,000 (includes parking space)
• Assessments of $349 a month (includes exterior maintenance, scavenger and snow removal)
• Taxes of $7057
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 10×15 (second floor)
• Bedroom #2: 12×11 (second floor)
• Living/dining room: 19×16 (main level)
• Kitchen: 9×12 (main level)
• Laundry room: 4×4 (second floor)
• Balcony: 7×4 (main level)

This 3-bedroom top floor greystone unit at 729 W. Roscoe in Lakeview came on the market in March 2021.

I don’t know when the building was constructed as none of the listings states the year but it’s an older vintage greystone.

The building has 4 units and secured assigned parking.

The listing says the building got a new boiler and roof in 2019.

This top floor unit has 12 foot ceilings, a decorative fireplace, crown molding and several bay windows.

It has hardwood floors throughout.

The unit has a separate dining room with bay windows and a family room.

The primary bedroom has a walk-in-closet and there is separate private storage in the building.

The eat-in kitchen has oak cabinets, granite counter tops and stainless steel appliances.

The unit has a large, covered terrace.

It has all the features buyers look for including washer/dryer in the unit, spacepak a/c and an assigned parking space.

The listing says that the unit also got new, soundproof windows in 2017.

This property is near all the shops and restaurants of East Lakeview and is, according to the listing, in the Nettlehorst school district.

Listed at $474,500, does this unit check all the boxes for vintage lovers?

Mario Greco at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.

Unit #3: 3 bedrooms, 1 bath, 1500 square feet

• Sold in April 2000 for $290,000
• Sold in July 2006 for $375,000
• Sold in September 2013 for $367,500
• Sold in April 2017 for $425,000
• Originally listed in March 2021 for $474,500
• Currently still listed at $474,500 (includes assigned parking spot)
• Assessments of $295 a month (includes heat, exterior maintenance, scavenger, snow removal)
• Taxes of $7533
• Spacepak a/c
• Washer/dryer in the unit
• Decorative fireplace
• Bedroom #1: 12×12
• Bedroom #2: 11×10
• Bedroom #3: 11×8
• Living room: 19×14
• Dining room: 10×10
• Family room: 14×12
• Kitchen: 12×11
• Laundry room: 5×5
• Walk-in-closet: 7×5
• Deck: 12×8

This 4-bedroom mid-century townhouse at 419 W. Briar in East Lakeview came on the market in March 2021.

Built in 1954, this complex has 7 units and deeded parking around a center courtyard.

The listing says this townhouse has been “fully updated.”

It has light hardwood floors throughout and custom modern built-ins.

The kitchen is open to the living/dining space and has modern custom cabinets, quartz counter tops and high-end appliances including an induction stove top.

It also has a peninsula with seating for 2.

The first floor has a rare half bath.

3 of the 4 bedrooms are on the second floor along with 2 full bathrooms.

The primary bedroom is en suite.

The lower level has a family room with built-ins, the laundry room, storage space, the fourth bedroom and another full bathroom.

The townhouse has central air and a deed parking space.

The listing says this townhouse is in the Nettlehorst school district.

It’s also near the shops and restaurants of Broadway and all of East Lakeview as well as the Lake bike and jogging paths.

The complex also has a unique side alley with an iron archway and lighting.

Originally listed in March 2021 at $785,000, it  has been reduced $10,100 to $774,900.

Is this a dream home for fans of mid-century modern?

Stephanie Andre at @Properties has the listing. See the pictures and floor plan here.

Unit #B: 4 bedrooms, 3.5 baths, 2200 square feet, townhouse

• Sold in October 1988 for $175,000
• Sold in June 1999 for $247,000
• Sold in May 2017 for $690,000
• Originally listed in March 2021 for $785,000
• Reduced
• Currently listed at $774,900
• Assessments of $100 a month (includes parking and snow removal)
• Taxes of $12,219
• Central Air
• Bedroom #1: 14×12 (second floor)
• Bedroom #2: 13×11 (second floor)
• Bedroom #3: 10×10 (second floor)
• Bedroom #4: 11×8 (lower level)
• Kitchen: 10×12 (main floor)
• Living/dining room: 20×22 (main floor)
• Family room: 21×14 (lower level)
• Laundry room: 10×8 (lower level)
• Storage: 12×7 (lower level)

This 3-bedroom penthouse at 1940 N. Hudson in East Lincoln Park came on the market in March 2021.

Built in 1996, it has 3 units and garage parking.

The listing says it’s “extra wide.”

This unit is a duplex up with a 2-story living room with 20 foot vaulted ceilings.

The main floor features the living/dining room and kitchen along with 2 of the 3 bedrooms.

The listing describes the kitchen as a “chef’s kitchen” with white cabinets, quartz counter tops, a breakfast bar with seating for four, a beverage cooler and Viking, Miele, and Subzero appliances.

2 of the bedrooms are en suite.

The primary bedroom is on the second floor and has a walk-in-closet with built-ins as well as a “spa-like” bathroom with heated floors, a chandelier, a claw foot tub and dual marble vanity.

The second floor also has a family room that is open to the living room space.

The unit has 3 private outdoor spaces including decks off of 2 of the bedrooms.

It also has a rooftop/top floor deck which the listing says was “recently refinished with Azek composite deck flooring.”

The unit has central air, washer/dryer in the unit and 1-car garage parking.

It’s in the prestigious East Lincoln Park neighborhood, near the park and Zoo as well as shops and restaurants.

At 2930 square feet, is this a possible single family home replacement for someone who wants this location?

Julie Busby and Susan Panozzo at Compass have the listing. See the pictures here (sorry, no floor plan).

Unit #3: 3 bedrooms, 3 baths, 2930 square feet, duplex up, penthouse

• I couldn’t find an original sales price going back to the 1990s
• Sold in December 2009 for $850,000 (per Redfin)
• Sold in June 2016 for $1,020,000
• Sold in June 2017 for $1,252,500
• Originally listed in March 2021 for $1.399 million
• Still listed at $1.399 million
• Taxes of $18,746
• Assessments of $348 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Central Air
• Washer/dryer in the unit
• 1 car garage parking included
• Fireplace
• Bedroom #1: 19×15 (second floor)
• Bedroom #2: 15×15 (main floor)
• Bedroom #3: 12×11 (main floor)
• Living room: 19×16 (main floor)
• Dining room: 13×12 (main floor)
• Kitchen: 12×11 (main floor)
• Family room: 13×12 (second floor)
• Laundry room: 6×9 (second floor)
• Deck: 14×11 (main level)
• Deck: 19×11 (second floor)
• Deck: 19×11 (third floor)