Crib Chatter

This top floor 2-bedroom in The Emerald at 125 S. Green in the West Loop came on the market in early March 2021.

The Emerald was built in 2008 and has 212 units and garage parking.

It’s a full amenity building with a doorman, fitness center, business center and private bar.

The listing describes this unit as a “penthouse” with 13-foot ceilings.

It has floor-to-ceiling windows which face west and north.

The kitchen is open to the living room and has dark wood cabinets, stone counter tops and stainless steel appliances.

The primary suite has a walk-in-closet and a bathroom with a dual vanity and marble counter tops.

It also has a private balcony.

This unit has all the features buyers look for including central air, washer/dryer in the unit and garage parking appears to be included in the price.

Originally listed in early March 2021 at $689,000 it has been reduced $40,000 to $649,000.

That’s $89,000 above last year’s sale of $560,000.

Is the West Loop market hot enough to get the premium?

Victoria Rezin and Dawn McKenna at Coldwell Banker have the listing. See the pictures and floor plan here.

Unit #1201A: 2 bedrooms, 2 baths, 1290 square feet

• Sold in August 2008 for $317,500 (included the parking)
• Sold in December 2010 for $380,000 (included the parking)
• Sold in March 2020 for $560,000 (included the parking)
• Originally listed in March 2021 for $689,000
• Reduced
• Currently listed at $649,000 (appears to include the parking)
• Assessments of $753 a month (includes heat, a/c, gas, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal, Internet)
• Taxes of $10,125
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×12
• Bedroom #2: 13×11
• Kitchen: 11×8
• Living/dining room combo: 22×16
• Balcony

This corner 2-bedroom at 1430 S. Michigan in the South Loop came on the market in August 2020.

Built in 2000, this building has 50 units around a central courtyard and garage parking.

It was built in “soft loft” style, with concrete ceilings and exposed ductwork.

It’s not a full amenity building. There’s no doorman or other amenities.

This unit has floor to ceiling windows with “tree top views” and true hardwood floors throughout, including in the bedrooms.

The kitchen is open to the living room and has light wood cabinets, granite counter tops and stainless steel appliances along with an island.

The primary bedroom has an en suite bathroom.

Both bedrooms have windows.

There is a balcony off the living room.

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

Originally listed in August 2020 for $339,500, it has been reduced to $324,900.

That’s under the 2017 sales price of $327,000.

Is this a deal?

Keith Tarasiewicz at Redfin has the listing. See the pictures and floor plan here.

Unit #304: 2 bedrooms, 2 baths, no square footage listed

• Sold in November 2000 for $208,500
• Sold in July 2007 for $318,500
• Sold in July 2017 for $327,000
• Originally listed in August 2020 for $339,500
• Reduced
• Currently listed at $324,900 (garage parking included)
• Assessments of $460 a month (includes security system, cable, Internet, exterior maintenance, lawn care, scavenger)
• Taxes of $5794
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 12×12
• Bedroom #2: 13×10
• Living/dining room: 18×13
• Kitchen: 13×9
• Foyer: 12×5
• Balcony

This 4-bedroom penthouse in Millennium Centre at 33 W. Ontario in River North came on the market in September 2020.

Built in 2003, Millennium Centre is 60 stories and has 364 units along with a parking garage.

It’s a full amenity building with an outdoor pool, grills and decks, an exercise room and a doorman.

It also has townhouses built on top of the parking garage.

This penthouse occupies the top two floors and has 180 degree north and west views.

The listing says it was renovated in 2017 and is “art deco-inspired.”

The listing also says it has been completely reimagined by LUXE Haus Interiors (and can be sold furnished).

There’s 26 foot floor-to-ceiling windows in the family room.

It has an eat-in kitchen on the second floor with white cabinets and luxury appliances that has a wall of windows that makes it seem like a sunroom as it overlooks the private 700 square foot terrace.

No, there’s no pergola but it’s on the 60th floor so there are usually rules about structures and what is allowed due to wind/weather when you get that high up.

3 of the bedrooms are en suite.

The listing says all 4 bedrooms are on the main floor (with the kitchen/dining room and living room on the second floor) but the floor plan really only shows 3 bedrooms on the main floor.

The primary suite has a large bathroom as well as a walk-in-closet with a window. Was the closet originally the fourth bedroom?

The unit has a few unique features including a drop down television hidden in the ceiling of the primary bedroom and a “secret” door (it’s the built-in bookcase) in the library/bedroom on the main floor that leads to the bathroom.

I recommend watching the video for more on both of these features.

The unit has central air, washer/dryer in the unit (where is it? In one of the bathrooms?) and 3 deeded garage parking spaces are included in the price.

Originally listed in September 2020 at $2.88 million, it has been reduced to $2.5 million.

At 3659 square feet, is this a deal at this price?

Amir Fouad at @Properties has the listing. See the pictures, floor plan and video (a must see) here.

Unit #PH-D: 4 bedrooms, 4 baths, 3659 square feet, penthouse, duplex up

• Sold in September 2006 for $2.1 million
• Sold on the same day in September 2006 for $2,999,950 (a flip?)
• Bank owned in May 2008
• Sold in May 2010 for $1.15 million
• Sold in July 2012 for $1.7 million
• Originally listed in September 2020 for $2.88 million
• Reduced
• Currently listed at $2.5 million (includes 3 car garage parking)
• Assessments of $3739 a month (includes heat, a/c, gas, doorman, cable, Internet, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger and snow removal)
• Taxes of $38,424
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 15×17 (main floor)
• Bedroom #2: 13×18 (main floor)
• Bedroom #3: 11×12 (main floor)
• Bedroom #4: 12×16 (main floor)
• Living room: 25×13 (second floor)
• Dining room: 20×13 (second floor)
• Family room: 20×18 (main floor)
• Kitchen: 12×22 (second floor)
• Terrace: 700 square feet (second floor)

An old bank building at 1425 W. Fullerton in West Lincoln Park is being converted into 8 luxury condo units.

The building will be called The Manor.

It has a new, modern addition on the east side of the building as well as a parking garage.

It’s an elevator building with direct entry into the units.

This top floor 3-bedroom simplex has northern and westerly views.

Is this unit built on top of the building as new construction?

The listing just includes general pictures of the building, including the original safe, which are in other units in the building.

The listing says the building will have gourmet kitchens, high ceilings and impressive windows and millwork.

This particular 3-bedroom unit also has a big 615 square foot deck.

The building is in the Oscar Meyer school district.

The listing says it will be delivering in “Spring 2021.”

It’s surrounded by shops and restaurants on Fullerton and Clybourn.

It’s rare to see a vintage conversion such as this in Lincoln Park.

Will these units sell quickly?

Melissa Govedarica and Patrick Ciezki at @Properties have the listings. See the pictures of the development here.

Unit #4N: 3 bedrooms, 2.5 baths, 1700 square feet

• New construction
• Currently listed for $999,900
• Assessments of $250 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes are “new”
• Garage Parking
• Central Air
• Bedroom #1: 13×10
• Bedroom #2: 12×10
• Bedroom #3: 12×10
• Living/dining combo: 23×17
• Kitchen: 13×10
• Walk-in-closet: 9×9
• Deck: 50×13

This top floor 3-bedroom in 757 N. Orleans in River North came on the market in July 2020.

This high rise was completed in 2008, just as the housing boom was ending. It has 196 units and an attached garage.

It’s on the corner of Orleans and Chicago and next to the Brown Line stop.

It’s full amenity building with an outdoor pool, exercise room and a doorman.

You may recall that the developer did a bulk sale of 39 units to an investor at the bottom of the housing bust in 2012.

This unit has east and south views of the Chicago skyline from its floor to ceiling windows.

The living/dining room and kitchen appears to have wood floors.

The listing says there are “updated” cabinets in the kitchen which also has stainless steel appliances and granite counter tops along with a breakfast bar which can fit 4 chairs.

There are 3 bedrooms which the listing says have new carpet.

The primary bedroom also had an en suite bath with a double vanity.

But one of the unique features is a private 362 square foot terrace off the living room with skyline views that has water and electric.

The unit has central air, washer/dryer in the unit and it looks like one parking space in the garage is included (but unclear).

Additional parking spaces are available.

Originally listed in July 2020 at $975,000, it has been reduced $125,000 to $850,000.

If you love city views, does this unit check all the boxes?

Mark Lusk at Keller Williams Infinity has the listing. See the pictures here.

Unit #2202: 3 bedrooms, 2 baths, 1629 square feet

• Sold in March 2009 for $752,500 (no parking included- but might have been wrapped into the price)
• Originally listed in July 2020 for $975,000
• Reduced
• Currently listed at $850,000
• Assessments of $979 a month (includes heat, a/c, gas, doorman, cable, exercise, pool, Internet)
• Taxes of $14,195
• Is garage parking included (or extra?) There is an attached garage.
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 15×14
• Bedroom #2: 12×10
• Bedroom #3: 10×10
• Living/dining room: 20×20
• Kitchen: 15×10
• Terrace: 19×19

The Illinois Association of Realtors is out with the February 2021 sales data.

The hot pandemic housing market continued in Chicago, the Chicagoland area and the entire state of Illinois.

In the city of Chicago, home sales (single-family and condominiums) in February 2021 totaled 1,628 homes sold, up 8.8 percent from February 2020 sales of 1,496 homes.

The median price of a home in Chicago in February 2021 was $320,000, up 10.3 percent compared to February 2020 when it was $290,000.

Here is the sales data for February going back to 1997 (courtesy of G):

• 1997: 881 sales
• 1998: 991
• 2000: 1383
• 2001: 1151
• 2002: 1677
• 2003: 1566
• 2004: 1814
• 2005: 2228
• 2006: 1855
• 2007: 1703
• 2008: 1454
• 2009: 870
• 2010: 1257
• 2011: 1092
• 2012: 1250
• 2013: 1411
• 2014: 1361
• 2015: 1497
• 2016: 1567
• 2017: 1529
• 2018: 1535
• 2019: 1449
• 2020: 1496
• 2021: 1628

Here is the Median Price Data also going back to 1997 (thanks G!):

• 1997: $117,000
• 1998: $132,000
• 1999: $143,750
• 2000: $161,500
• 2001: $180,200
• 2002: $212,000
• 2003: $215,000
• 2004: $229,900
• 2005: $268,900
• 2006: $267,500
• 2007: $270,000
• 2008: $290,000
• 2009: $218,125 (with 31% being REO/Short Sales)
• 2010: $176,000 (with 46% being REO/Short Sales)
• 2011: $150,250 (with 50% being REO/Short Sales)
• 2012: $140,300 (with 52% being REO/Short Sales)
• 2013: $158,000
• 2014 $175,000
• 2015: $212,000
• 2016: $236,000
• 2017: $246,000
• 2018: $272,000
• 2019: $272,500
• 2020: $290,000
• 2021: $320,000

“We are thrilled to see the strong market continue into February, which may lead to one of the strongest first quarters we’ve seen in the real estate market in years,” said Nykea Pippion McGriff, president of the Chicago Association of REALTORS® and vice president of brokerage services at Coldwell Banker Realty.

“February saw condo closed sales increase 16.2 percent, outpacing single-family home closed sales, which decreased 1.8 percent. Since single-family homes have been flying off the market since last summer, we are glad to see condo inventory drive February sales.”

Lack of inventory continues to be the big story.

Statewide, homes for sale fell 49.9% to 24,358 from 48,636 a year ago.

The press release didn’t state it, but that has to be a record, or near record, year-over-year decline in inventory.

In Chicago, inventory also fell 10.8% to 7,426 from 8,329.

Days on the market in Chicago fell one day to 51 from 52 days.

The average 30-year fixed mortgage rate actually rose in the month, for the first time since the coronavirus pandemic hit, to 2.81% from 2.74% in January.

That’s still well under the average rate of 3.47% in February 2020, however.

“While February’s bitter weather dampened that month’s housing sales compared to January, sales were up almost 15 percent from a year ago in Chicago and 12 percent in Illinois,” said Geoffrey J.D. Hewings, emeritus director of the Regional Economics Applications Laboratory at the University of Illinois.

“Price appreciation also continued with median prices up over 12 percent from a year ago in Chicago and 14 percent in Illinois. Further, these positive trends in sales and prices are expected to continue for March, April and May.”

A secondary story is the strength of Chicago’s condo market. Single family home sales actually fell year-over-year by 1.8% so it was the strong condo sales that boosted the market.

If the downtown condo market is grim, where are all these condo sales happening?

Or are some buyers snapping up downtown bargains?

Illinois continues double-digit home sales and price increases in February [Illinois Association of Realtors, Press Release, March 22, 2021]

This 2-bedroom duplex down at 3521 N. Lakewood in Southport neighborhood of Lakeview came on the market in October 2020.

This building was built in 1914 and has 14 units. The picture above is from the side of the building.

It was converted into condos in 1999 and does not have parking.

There’s a common area behind the building which has tables and chairs.

This unit has 1100 square feet with the living room and kitchen on the main floor.

There are cherry wood floors on the main floor.

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

It has a butcher block island with seating for 2.

There’s no dining room.

Both bedrooms are on the lower level. It’s unclear if both of the bathrooms are also there.

The listing says there is new carpeting in the bedrooms.

This unit has central air, but there’s no washer/dryer in the unit (presumably there is one in the building?) and there’s no parking.

This building is in the heart of the popular Southport neighborhood, near shops, restaurants, Wrigley Field and the Brown Line or Red Line stops.

Originally listed in October 2020 at $395,000, it has been reduced $30,000 to $365,000.

Is Southport still a hot neighborhood for entry level condo buyers 15 years after the housing boom?

Edwin Aloisio at d’aprile properties has the listing. See the pictures here.

Unit #1: 2 bedrooms, 2 baths, 1100 square feet

• Sold in April 1999 for $189,000
• Sold in September 2001 for $250,000
• Sold in June 2006 for $319,000
• Sold in December 2012 for $228,000
• Sold in April 2016 for $330,000
• Originally listed in October 2020 for $395,000
• Reduced
• Currently listed at $365,000
• Assessments of $260 a month (includes exterior maintenance, lawn care, snow removal)
• Taxes of $3872
• Central Air
• No washer/dryer in the unit (is it in the building?)
• No parking
• Bedroom #1: 16×12 (lower level)
• Bedroom #2: 11×12 (lower level)
• Kitchen: 25×12
• Living room: 17×12

This 3-bedroom in Bellevue Place at 100 E. Bellevue Place came on the market in November 2020.

Built in either 1969 (or 1971- as I’ve seen both listed), Bellevue Place has 181 units and attached heated garage parking that is leased.

It’s a full amenity building with a doorman, an exercise room, an outdoor pool on the roof along with a sundeck and grills.

This unit is a northeast corner unit and has 2 walls of windows which includes some lake views.

The listing says it has been “professionally designed” and “completely renovated.”

It has wide plank flooring throughout.

The kitchen has white cabinets, black matte finishes, a farmhouse sink, stainless steel appliances and a peninsula with waterfall quartz counter tops.

The listing says the electrical and plumbing have been updated.

The bathrooms have mosaic and marble floor tiling and rainfall shower systems.

It has central air, washer/dryer in the unit and leased heated garage parking is available.

This unit sold in June 2020 for $435,000, was renovated, and re-listed in November 2020 at $693,561.

It has been reduced to $664,900.

What will get this unit sold?

Todd Stephens at Winnetka Realty has the listing. See the pictures here.

Unit #5A: 3 bedrooms, 2 baths, 1800 square feet

• Sold in July 1998 for $355,000
• Sold in August 2001 for $539,000
• Sold in Mary 2006 for $544,000
• Sold in June 2020 for $435,000
• Originally listed in November 2020 for $693,561
• Reduced
• Currently listed at $664,900
• Assessments of $1450 a month (includes heat, a/c, gas, doorman, outdoor pool, exercise room)
• Taxes of $9816
• Heated garage parking is available for rent
• Guest parking also available
• Bedroom #1: 15×14
• Bedroom #2: 13×11
• Bedroom #3: 13×12
• Living room: 20×10
• Dining room: 14×10
• Kitchen: 14×8
• Laundry room: 4×8
• Walk-in-closet: 5×8

This 3-bedroom penthouse at 2845 N. Burling in Lakeview came on the market in March 2021.

Built in 1915, this building has 8 units and assigned exterior parking.

It was converted into condos during the housing boom in 2006.

This is a top floor unit which has 12 foot ceilings.

The listing says it has had an “exquisite” remodel and has designer finishes.

It has an open living/dining and kitchen concept.

There’s a chef’s kitchen with white cabinets that go to the ceiling, gold cabinet hardware, faucet and pendants, a white quartz island, marble tile backsplash, open wood shelving, high-end stainless steel appliances and a beverage refrigerator.

French doors open into the third bedroom.

The primary suite has wainscoting to the ceiling and an en suite bath with double vanity, jetted tub and walk-in shower.

The third bedroom also has wainscoting to the ceiling.

There’s a private deck off the back of the unit and the listing says the unit has roof rights.

It has the features buyers look for including central air, washer/dryer in the unit and an assigned exterior parking space included in the price.

Burling is a favorite street for many because it is leafy and private yet is steps from the Trader Joes and the shops and restaurants of East Lakeview.

If this building looks familiar to some of you, that’s because this unit was on the market last year and sold during the height of the first coronavirus shutdown, in April 2020, for $626,000.

It has come back on the market after the remodel at $715,000.

Will it get the premium a year later?

Julie Busby and Ali Rozina at Compass have the listing. See the pictures here.

If you have a Redfin account, you can also see the 2020 sales pictures and floor plan to see what was done in the remodel.

Unit #3N: 3 bedrooms, 2 baths, 1825 square feet

• Sold in April 2006 for $553,000
• Sold in April 2020 for $626,000
• Currently listed at $715,000 (includes exterior assigned parking space)
• Assessments of $441 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $10,345
• Central Air
• Washer/dryer in the unit
• Bedroom #1: 13×13
• Bedroom #2: 14×11
• Bedroom #3: 12×9
• Kitchen: 14×9
• Living room: 16×14
• Dining room: 14×9
• Foyer: 8×4
• Walk-in-closet: 4×4
• Walk-in-closet: 3×3
• Deck

This 4-bedroom duplex down at 1165 W. Eddy in Lakeview came on the market in March 2021.

Built in 2015-2016, this all-brick building has 6 luxury units and 6 garage parking spots

We first chattered about this building in 2016 when it was newly built as it replaced two vintage Victorian homes that we had chattered about previously.

In 2016, we chattered about the buyers of these luxury condos in a neighborhood that used to be known for “starter” condos for 20-somethings.

Russ commented:

Most of the buyers are young married DINKs. Usually late 20s or early 30s. Both husband and wife are typically recent graduates of top MBA or law programs. Almost always work in consulting, PE, i-banking, brand management or BigLaw firms. Usually putting 20% down, although it isn’t uncommon some portion of that is a gift from parents.

They will typically stay in the place three to five years before moving up to a single family. The move is always precipitated by children hence why there is a crib in nearly every resale condo listing.

North Shore is usually the suburb of choice. Every now and then, they will stay in the city, but most don’t. Occasionally, a few move to western burbs. A decent number wind up relocating out of Chicago.

See our 2016 chatter here.

This unit is one of the larger 2600 square foot duplex downs on the first floor.

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

It has wainscoting, crown molding, built-ins and a coffered ceiling on the main floor.

The chef’s kitchen  has white cabinets, Subzero and Wolf appliances, quartz counter tops, subway tile backsplash and an oversized island which seats four.

There’s also a butler’s pantry with a wine fridge.

All 4 bedrooms are in the lower level including the primary suite which has a marble bath.

The lower level has heated floors.

There are 3 outdoor spaces including a front balcony, a back deck and a private garage rooftop deck.

There are gas lines for the front and back decks.

It has central air, washer/dryer in the unit and one garage parking space.

It has come on the market at $975,000.

Is this a single family home replacement for those who want to stay in the Wrigleyville/Southport neighborhood but are priced out of single family homes?

Lauren and Kyle Shimmon at Dream Town have the listing. See the pictures and floor plan here.

Unit #1E: 4 bedrooms, 2.5 baths, 2600 square feet, duplex down

• Sold in April 2016 for $899,900 (according to Redfin)
• Currently listed at $975,000 (includes garage parking)
• Assessments of $212 a month (includes exterior maintenance, lawn care, scavenger)
• Taxes of $17,371
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 16×14 (lower level)
• Bedroom #2: 13×11 (lower level)
• Bedroom #3: 12×11 (lower level)
• Bedroom #4: 11×11 (lower level)
• Living room: 20×16 (main level)
• Dining room: 16×12 (main level)
• Family room: 21×17 (main level)
• Kitchen: 14×12 (main level)
• Breakfast room: 12×7 (main level)
• Balcony: 16×7 (main level)
• Terrace: 17×6 (lower level)
• Deck: 29×19 (on garage)