Crib Chatter

This 2-bedroom top floor unit at 2144 W. Concord in Bucktown came on the market in February 2021.

This is an 8-unit vintage building with exterior uncovered deeded parking.

The building was converted to condos during the housing boom, in 2007.

This unit has high ceilings and refinished hardwood floors.

The kitchen was “updated” in 2018 and has white Shaker style cabinets with brass fixtures, new white quartz counter tops, stainless steel appliances and a custom tile backsplash that extends from the countertop to the ceiling.

It has a separate dining room and a sunroom with windows on three sides.

The primary bedroom has custom closets and an en suite natural stone bath with double vanity, separate shower and soaking tub.

There’s a second full guest bathroom and a second bedroom.

It has 9′ custom wood doors and a Nest thermostat.

There’s a large, private back deck.

It has the features buyers look for including central air (listing says “new HVAC in 2019”), washer/dryer in the unit and exterior deeded uncovered parking which is included in the price.

This property is located near all the shops and restaurants of Bucktown and Wicker Park and is close to the Damen El stop.

If this building looks familiar, that’s because we chattered about it, and this unit, in 2015.

Back then, some of you thought it was overpriced but it went under contract within 6 days and sold for a premium.

See our chatter here.

This go-around, it is again listed at a premium of $520,000 and it went under contract almost immediately but has come back on the market.

Will it get the price premium again in this sale?

Kathy Schrage at Redfin has the listing. See the pictures and floor plan here.

Unit #3: 2 bedrooms, 2 baths, 1450 square feet

• Sold in May 2007 for $445,000
• Sold in October 2009 for $433,000
• Sold in May 2012 for $395,000
• Sold in March 2015 for $433,500
• Sold in March 2018 for $470,000
• Listed in February 2021 at $520,000 (includes the exterior uncovered parking space)
• Went under contract but was re-listed
• Currently still listed at $520,000
• Assessments of $333 a month (includes exterior maintenance, parking)
• Taxes of $8955
• Central Air
• Washer/dryer in the unit
• Balcony
• Bedroom #1: 12×14
• Bedroom #2: 13×10
• Sunroom: 8×11
• Kitchen: 10×8
• Living/dining room combo: 29×12

This 3-bedroom at 122 W. Delaware in the Gold Coast came on the market in July 2020.

Built in 1881, 122 W. Delaware has 8 units.

It has a vintage staircase in the pictures and there’s no mention of an elevator in the listing.

This unit has many vintage features including south facing oversized windows in the living and dining room, transom windows, high ceilings, a pier mirror, vintage hardware including door knobs, original, period millwork and 2 wood burning fireplaces with wood mantles.

The living and dining room had originally been separated, and had a pocket door, but the current seller opened up the space (see prior 2017 listing pictures).

In addition to the three bedrooms, there’s also a den or an office.

The listing says the bathrooms have been “updated.”

The primary bedroom has one of the two wood burning fireplaces.

The listing says the eat-in kitchen has been “fully renovated” with white cabinets and stainless steel appliances. It also has a walk-in-pantry.

There’s a 6×6 deck off the kitchen.

The unit has all the features buyers look for including central air, the in-unit washer/dryer and deeded parking is $25,000 extra.

This building is near Washington Park and the shops and restaurants of the Rush Street Corridor.

Originally listed for $689,000 in July 2020, it has been reduced to $675,000 (plus the $25,000 for parking).

Is this a vintage lover’s dream home?

Keith Goad and Sonja Solberg at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.

Unit #3W: 3 bedrooms, 2 baths, 1800 square feet

• Sold in August 1988 for $225,000
• Sold in September 1990 for $235,000
• Sold in November 1996 for $235,000
• Sold in June 2011 for $500,000
• Sold in April 2017 for $625,000
• Originally listed in July 2020 for $689,000
• Reduced
• Currently listed at $675,000 (plus $25,000 for parking)
• Assessments of $483 a month (includes scavenger)
• Taxes of $10,068
• Central Air
• Washer/dryer in the unit
• 2 wood burning fireplaces
• Bedroom #1: 15×11
• Bedroom #2: 13×12
• Bedroom #3: 13×9
• Office: 15×12
• Foyer: 5×5
• Living room: 16×13
• Dining room: 15×10
• Kitchen: 13×11
• Balcony: 6×6

This 2-bedroom duplex-up penthouse at 800 W. Cornelia in Lakeview came on the market in July 2020.

Built in 2003 by architects Sullivan & Goulette, it has 26 units and a heated garage.

It’s an elevator building.

The listing says this unit is unique in the building because it extends the entire length of the building east to west with almost 2000 square feet.

The living and dining room have high ceilings, recessed lighting and crown molding, along with the first balcony which faces east.

The kitchen is open to the living and dining rooms and has cherry cabinets, granite counter tops, a kitchen island, tumbled marble backsplash, stainless steel appliances and a double oven.

The primary suite is on the west side and has an en suite spa-bath with marble floors, travertine tiles, a separate shower, a double vanity with grohe faucets, beveled mirrors, a European style towel warmer and heated floors.

It also has a walk-in-closet and the second outdoor space: a 12×12 deck.

The second bedroom doesn’t have any windows but it does have a skylight and an en suite bath.

The second level has a den/family room or office with custom built-ins including a wine refrigerator and wet bar.

There’s also a powder room on the second level.

But the big selling point is the 350 square foot roof top terrace with city views east and north.

The unit has the features buyers look for including central air, washer/dryer in the unit and 2-car heated tandem garage parking, which is included.

It’s in the middle of all the shops and restaurants of Lakeview and is just a few blocks from Wrigley Field.

Originally listed in July 2020 for $785,000, it has been reduced to $725,000.

Is this an ideal property for those seeking private outdoor space in this dense neighborhood?

Kevin Tatum at @Properties has the listing. See the pictures here.

Unit #407: 2 bedrooms, 2.5 baths, no square footage listed (but listing says “almost 2000 square feet”), duplex up, penthouse

• Sold in April 2004 for $615,000
• Originally listed in July 2020 at $785,000
• Reduced
• Currently listed at $725,000 (includes 2-car tandem garage parking)
• Assessments of $551 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $14,691
• Central Air
• Washer/dryer in the unit
• Gas fireplace
• Bedroom #1: 15×14 (main floor)
• Bedroom #2: 11×11 (main floor)
• Living/dining room: 28×15 (main floor)
• Kitchen: 11×8 (main floor)
• Laundry room: 5×5 (main floor)
• Great room: 15×15 (second floor)
• Walk-in-closet: 12×5 (second floor)
• Bar: 5×5 (second floor)
• Balcony: 11×5 (main floor)
• Deck: 12×12 (main floor)
• Roof top terrace: 22×15 (second floor)

The Illinois Association of Realtors is out with the January home sales data.

The strong 2020 housing market appears to be continuing into 2021.

From the IAR:

In the city of Chicago, home sales (single-family and condominiums) in January 2021 totaled 1,670 homes sold, up 14.2 percent from January 2020 sales of 1,462 homes.

The median price of a home in Chicago in January 2021 was $310,000, up 15.9 percent compared to January 2020 when it was $267,500.

Sales Data Since 2006 (thanks to G for the older data):

• January 2006: 2009 sales and median price of $258,000
• January 2007: 1850 sales and median price of $279,900
• January 2008: 1203 sales and median price of $290,000
• January 2009: 918 sales and median price of $205,000
• January 2010: 1237 sales and median price of $195,000
• January 2011: 1034 sales and median price of $150,000
• January 2012: 1123 sales and median price of $149,000
• January 2013: 1521 sales and median price of $157,000
• January 2014: 1383 sales and median price of $200,750
• January 2015: 1348 sales and median price of $220,000
• January 2016: 1398 sales and median price of $227,750
• January 2017: 1574 sales and median price of $255,000
• January 2018: 1444 sales and median price of $265,000
• January 2019: 1347 sales and median price of $255,000
• January 2020: 1462 sales and median price of $267,500
• January 2021: 1670 sales and median price of $310,000

“As we started to settle from the outcome of the election and the beginning stages of the COVID-19 vaccine rollout, we saw strong sales in January,” said Nykea Pippion McGriff, president of the Chicago Association of REALTORS® and vice president of brokerage services at Coldwell Banker Realty.

“Buyers created a surge in winter activity, with a 21.2 percent increase in condo closed sales as well as a 14.2 percent increase in closed sales of all properties. Inventory dipped slightly year over year, which may have played a part in the double digit (15.9 percent) change in median sales price for all properties and a -13.5 percent decline in days on market.”

The 30-year average mortgage rate remained near record lows at 2.74% in January up from 2.68% in December but still down almost 1% from January 2020 where it averaged 3.62%.

“The 2021 state housing market got off to a roaring start in January with higher annual home sales and prices,” said Sue Miller, president of Illinois REALTORS® and designated managing broker of Coldwell Banker Real Estate Group in McHenry. “Winter isn’t slowing down consumers who are eager to buy, but tight inventory and an increasingly competitive market have become obstacles.”

Inventory continues to plunge statewide, but in Chicago, it has barely budged.

• Illinois inventory: down 42.9% to 26,844 from 47,052 in 2020
• Chicago metro: down 41.2% to 17,963 from 30,570 in 2020
• Chicago: down 1.3% to 7,679 from 7,784 in 2020

Contrary to public perception, the condo market was hotter than single family homes in Chicago in January.

Condo sales were up 21.2% to 959 but single family home sales rose just 6% to 711.

Single family home inventory continues to be tight in the city, however.

February and March will be easy months to lap given that the initial COVID lockdowns hit in those months a year ago.

But will the spring selling season remain this robust?

Illinois kicks off a new housing year with strong January gains in home sales and prices [Illinois Association of Realtors, Press Release, February 19, 2021]

This 3-bedroom in Lincoln Park 2550 at 2550 N. Lakeview in East Lincoln Park came on the market in July 2020.

Built in 2010, Lincoln Park 2550 has 219 units and garage parking.

It was the first new building to be built on Lincoln Park in decades.

It’s a full amenity building with valet guest parking, an indoor pool and spa, a billiards room, a fitness room, a library, a movie theater, a dog run, a kids playground and lush gardens with a fountain.

This unit is on a high floor and has 3 exposures: east, south and west, which includes both the Lake and Lincoln Park as well as the downtown Chicago skyline.

The listing says its been customized from top to bottom.

The interiors were designed by Anthony Michael Interior Design and the property is available fully furnished.

It has 7″ oak hardwood floors with inlay.

The unit also has antique Tibetan sliding interior doors.

All 3 bedrooms are en suite.

The kitchen has wood cabinets, a breakfast bar, stainless steel appliances and a tile backsplash along with an attached breakfast room.

The unit has a media room and a family room, although there’s no family room on the floor plan (maybe the breakfast room?).

It also has a private south facing balcony which overlooks the Chicago skyline.

The property has the features buyers look for including central air, washer/dryer in the unit and it looks like there is 2-car garage parking included.

For those who love Lake and city views, is this a dream home?

Sarah Ziehr at Redfin has the listing. See the pictures and floor plan here.

Unit #S3101: 3 bedrooms, 3.5 baths, 2843 square feet

• I couldn’t find any prior sales price in public records
• Originally listed in July 2020 for $3.15 million
• Reduced
• Currently listed at $2,999,888
• Assessments of $3270 a month (includes heat, a/c, gas, parking, doorman, cable, clubhouse, exercise facilities, pool, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $57,658
• Central Air
• Washer/dryer in the unit
• Looks like 2 garage parking spaces are included
• Bedroom #1: 15×12
• Bedroom #2: 18×10
• Bedroom #3: 12×11
• Media room: 12×10
• Foyer: 11×6
• Gallery: 10×5
• Living room: 20×19
• Dining room: 19×15
• Family room: 17×12
• Kitchen: 16×11
• Balcony: 20×12

In 2020, Chicago’s downtown was hit by both the coronavirus pandemic and the George Floyd looting and protests.

Not only did tourists stay away, but renters fled downtown apartment towers resulting in the lowest occupancy rate in decades.

Landlords were forced to slash rents and give out deep discounts, including 2 to 4 months free rent, along with other perks like cleaning services and free parking, in order to get new tenants.

But according to the latest update from Crain’s, the downtown apartment market showed a surprising turnaround by Q4 of 2020.

“The bleeding has stopped,” said Ron DeVries, senior managing director in the Chicago office of Integra, a real estate appraisal and consulting firm. “The patient has moved to the recovery room, too.”

As a result, one key measure of demand, absorption—or the change in the number of occupied apartments—totaled 548 units in the fourth quarter, reversing two quarters of declines, according to Integra.

DeVries had earlier forecast absorption of -1,300 units for all of 2020. With the turnaround in the fourth quarter, absorption totaled -238 for the year. Though it was the first year of negative absorption since 2005, DeVries expected it to be much worse.

“That’s big,” he said. “What it says is that people are prepared to move back downtown, and they’re starting to make those decisions to do it.”

According to Integra, occupancy fell to the lowest since the 1990s in Q4, to 86.5%, down from 87.1% in Q3.

It was 93.3% in the fourth quarter of 2019, before the pandemic hit.

Class A rents also remain depressed, down 18.5% from the fourth quarter of 2019, at $2.55.

But DeVries expects a strong spring leasing season to push up the occupancy rate. Leasing this winter, normally a slow period, has been surprisingly strong. Apartment hunters can still find plenty of deals, but they might not last.

“I would think that by mid-summer, we should be well above 90 percent,” he said. “Everyone we talked to says their leasing activity this winter has been off the charts compared to prior years.”

Was the fourth quarter of 2020 the bottom of the dramatic pandemic apartment re-set?

And if the rental market is showing improvement, will that extend to the downtown condo market as well?

Here’s why those downtown apartment deals might not last [Crain’s Chicago Business, by Alby Gallun, February 17, 2021]

This 4-bedroom duplex down at 820 W. Webster in Lincoln Park came on the market in February 2021.

Built in 1886, this building has 6 units and outdoor parking.

It has a public, rooftop deck and on-site storage.

This unit is a south facing duplex down with many of its original features including pocket doors, original pocket window shutters, plaster moldings, and, according to the 2015 listing, 12 foot ceilings on the first level.

It has 2 fireplaces.

The main floor has the living and dining room, along with the kitchen and 2 bedrooms with 2 full bathrooms.

The kitchen has white cabinets and new stainless steel appliances.

2 other bedrooms are on the lower level, which has a separate entrance.

There’s also a full bathroom with a steam shower, a family room, and side-by-side washer/dryer.

This unit has a deck off the back bedroom.

It also has hardwood floors throughout the main level.

It has central air and an exterior parking space is included.

The listing says its in the Oscar Meyer school district.

Originally listed in early February 2021 for $845,000, it has been reduced $20,000 to $825,000.

Is this a townhouse alternative for those who love vintage?

Emily Sachs Wong at @Properties has the listing. See the pictures and floor plan here.

You can also see it at the Open House on Sunday, Feb 21 from 11 AM to 1 PM.

Unit #1W: 4 bedrooms, 3 baths, no square footage listed, duplex down

• Sold in August 1993 for $238,000
• Sold in August 1996 for $272,500
• Sold in June 2000 for $460,000
• Sold in April 2006 for $608,000
• Sold in January 2015 for $717,500
• Originally listed in February 2021 for $845,000
• Reduced
• Currently listed at $825,000
• Assessments of $462 a month (includes exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $13,438
• Central Air
• Side-by-side washer/dryer in the unit
• 1 exterior outdoor parking space
• 2 fireplaces
• Bedroom #1: 13×12 (main level)
• Bedroom #2: 12×10 (lower level)
• Bedroom #3: 13×11 (main level)
• Bedroom #4: 15×12 (lower level)
• Family room: 19×11 (lower level)
• Dining room: 13×11 (main level)
• Kitchen: 14×12 (main level)
• Living room: 20×13 (main level)

This 2-bedroom on the 41st floor of the Water Tower Residences in Streeterville just came on the market.

Built in 1975, Water Tower Condominiums has 260 units and leased parking. It’s most famous for being the building that Oprah Winfrey lived in for years.

It’s a full service building with 24-hour doorman and room service available from the Ritz Carlton Hotel which is in the base of the building.

If you recall, the building is also one of the rare high rises that has actually CUT its assessments.

Assessments were cut about 32% as of Jan 1, 2020.

The listing says this is a “gut renovation.”

If you look at the prior listing pictures from 2020, you will see that it looks like it was a long-time owner (original 1975 owner?).

It now has dark stained hardwood floors throughout.

The kitchen has custom white and wood cabinets with a large island with seating.

It has Viking stainless steel appliances with an overhead cooktop exhaust system that actually vents to the exterior of the building.

The kitchen also has an integrated microwave drawer and built-in wine refrigerator along with a deep kitchen sink.

The primary suite has a 12×12 walk-in-closet and an en suite bathroom with an “uber luxurious” Porcelanosa bath with oversized shower and free standing soaking tub.

The second bedroom is also en suite.

The unit has central air and side-by-side washer/dryer in the unit along with an in-unit trash chute.

There is rental parking in the building ranging from $355 to $510 a month.

Dogs are welcome.

At 1775 square feet, it has come on the market at $1,050,000.

Is this a deal for a like-new downtown condo with views?

Michael Rosenblum at BerkshireHathaway HomeServices has the listing. See the pictures here.

Unit #4102: 2 bedrooms, 2 baths, 1775 square feet

• No original sale price- original 1975 owner?
• Sold in February 2020 for $620,000
• Currently listed at $1,050,000
• Assessments of $1054 a month (includes A/C, doorman, cable, Internet, exterior maintenance, scavenger, snow removal)
• Taxes of $15,297
• Parking is on site valet or self-parking for $355 a month to $510 a month
• Central Air
• Side-by-Side washer/dryer
• Trash chute in the unit
• Bedroom #1: 14×16
• Bedroom #2: 12×16
• Living room: 21×17
• Dining room: 13×11
• Kitchen: 14×11
• Laundry room: 9×5
• Foyer: 17×9
• Walk-in-Closet: 12×12

This 2-bedroom duplex up penthouse in The Metropolitan Place at 130 S. Canal in the West Loop (or is this West Loop Gate?) came on the market in August 2020.

Built in 1950, Metropolitan Place was converted into loft condos in 1999. It has 212 lofts and an attached, heated parking garage.

The building has a doorman and an exercise room.

This loft is one of the rare penthouse units in the building which also has a 400 square foot south facing terrace that stretches the length of the first floor of the loft.

It has newly refinished hardwood floors on the main level along with floor to ceiling windows with motorized blinds.

The first floor has the kitchen, living and dining rooms along with a half bath.

The listing says the kitchen has been “completely remodeled” and now has custom navy cabinets, quartz countertops, a custom backsplash, wine refrigerator, built-in microwave drawer and stainless steel appliances.

The loft has designer solid core doors.

Both bedrooms are on the second level and both are en suite.

The primary bedroom has a granite and marble bathroom with double vanity. It also has 2 walk-in-closets.

There’s a built-in custom library with a desk in the second bedroom.

The loft has central air, side-by-side washer/dryer and a heated garage parking space is available for $30,000.

Originally listed in August 2020 for $800,000, it has been reduced to $720,000 (plus the parking).

Will the downtown condo market turn around in 2021?

Christine Hancock at @Properties has the listing. See the pictures here.

Unit #9R: 2 bedrooms, 2.5 baths, 1836 square feet, duplex up, penthouse

• Sold in November 2000 for $455,000
• Sold in April 2004 for $448,000
• Sold in April 2012 for $450,000
• Originally listed in August 2020 for $800,000
• Reduced
• Currently listed at $720,000 (plus $30,000 for garage parking)
• Assessments of $1239 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $11,134
• Central Air
• Side-by-side washer/dryer in the unit
• Fireplace
• Bedroom #1: 16×15 (second floor)
• Bedroom #2: 14×12 (second floor)
• Living/dining room: 24×19 (main floor)
• Kitchen: 16×10 (main floor)
• Foyer: 8×7 (main floor)
• Laundry room: 8×6 (main floor)
• Terrace: 43×10 (main floor)

This 2-bedroom in 2700 N. Hampden Court in East Lincoln Park came on the market in October 2020.

Built in 1971, 2700 N. Hampden Court has 95 units and a parking garage.

It has a doorman, a roof top pool and deck, an exercise room as well as an onsite cleaners and storage.

Pets are allowed.

This unit is a corner unit where both bedrooms have east views of the park.

The listing says the unit has been “completely remodeled.”

It has hardwood floors throughout.

The kitchen has custom gray cabinets, granite counter tops and luxury stainless steel appliances by Sub-Zero and Bosch.

The primary suite is en suite with a tile shower.

There is no laundry in the unit. It is coin laundry in the building.

It has wall heating/cooling units.

While the building has a parking garage, this unit does not have a parking spot.

Originally listed at $355,000, it has been reduced to $325,000.

Buyers want “new.”

Is this a deal at this price?

Minoo Panahi at Coldwell Banker has the listing. See the pictures here.

Unit #8B: 2 bedrooms, 2 baths, no square footage listed

• Sold in July 1993 for $121,500 (included parking)
• Sold in June 2000 for $250,000 (included parking)
• Sold in April 2005 for $290,000 (included parking)
• Sold in January 2008 for $225,000 (included parking)
• Sold in March 2008 for $280,000 (included parking)
• Sold in December 2008 for $320,000 (no parking with this sale. The parking space appears to have been sold separately in September 2008)
• Originally listed in October 2020 for $355,000
• Reduced
• Currently listed at $325,000
• Assessments of $637 a month (includes doorman, cable, Internet, exercise room, outdoor pool, exterior maintenance, scavenger)
• Taxes of $5863
• No central air. Wall units.
• No parking
• No in-unit washer/dryer. Coin laundry in the building.
• Bedroom #1: 15×12
• Bedroom #2: 12×11
• Living room: 17×14
• Dining room: 9×10
• Kitchen: 9×8