Archive for September 2011

A historic rooftop bungalow in the Gold Coast

A number of Chicago’s most prestigious residential buildings maintain a low public profile, garner little attention, and prefer their relative obscurity. One of those buildings, 1500 North Lake Shore Drive, a 23-story co-op completed in 1929, is home to what may be the largest private rooftop terrace on the Drive. You can glimpse it in... Read more »

A nearly 50% price cut on a new Streeterville penthouse

Last April Unit 4701 at the ParkView Condominium, 505 N McClurg Ct in Streeterville, was listed at $1,681,500. It was reduced to $1.3M in July of this year and has just been reduced again to $870K. The unit is a true penthouse with 3 bedrooms, 2 ½ baths, 2,690 square feet of living area and... Read more »

Is there a renaissance at Beverly Ridge?

Here’s a useful tip: when the alderman’s wife is heading up sales for a new home development, the odds are high that the development shouldn’t have been done. And here’s another: when the city pops for an $11.6 million TIF to clean up a contaminated light industrial site and prep it for residential development, the... Read more »

Bronzeville 6-flat condo plummets in price, now $9,900

In September of 2007 Afolarin Gbenga bought Unit 1N at the Michigan Manor Condo, 4343 S Michigan Ave for $315,000 with first and second mortgages totaling – you guessed it – $315,000. Sixteen months later the condo went into foreclosure. Unit 1N came back on the market two days ago at an asking price of... Read more »

The most home for the money in Bronzeville

This may be the “most home for the money” that I’ve seen in the city of Chicago in years. Is it the best buy in Bronzeville? I’ll leave the answer to people who’ve seen more homes in the neighborhood recently than I have. The 5-bedroom, 4 ½ bath home at 4539 S King Dr in... Read more »

When the heart of a neighborhood is an out-of-body experience

If a real estate listing says a property is in the “heart” of a neighborhood, there’s a 50/50 chance that it’s a) on the far edge of the neighborhood, b) a block or more beyond the far edge, or c) nowhere near the neighborhood in question. Most of us think of the “heart” of a... Read more »

MLS-listed downtown rental inventory increases

The number of downtown homes and condos listed for rent in the local MLS increased modestly this past week, as it had in the previous two weeks. There are now 789 homes and condos listed for rent in the 14 ZIP codes that we track. This is the highest number available since mid-May, and in... Read more »

Tour a 4-bedroom Gold Coast penthouse

If you search for the heart of Chicago’s Gold Coast you’re likely to find it at 1400 N State Pkwy. The location almost defines the Gold Coast: a wonderful mix of mansions and high-rises, and proximity to the lake, parks and neighborhood dining, shopping and nightlife. Dawn, one of the owners of a 3,000 square... Read more »

Video from the 79th Street Renaissance Festival

When Chicago media focus on the Auburn Gresham neighborhood it’s usually to report bad news, and that may have deterred you from looking at a community that, for all its troubles, has some loyal residents, dedicated leaders and affordable home prices. Six years ago, when Carlos Nelson (video) first talked about the event in the... Read more »

Prices chopped on new West Bucktown homes

A new 5-bedroom, 3 ½ bath home at 1701 N Artesian in West Bucktown that came on the market in early June at $699,900 has just been reduced to $644,900. The 3,600 square foot home is on a south-facing corner lot, and enjoys good natural light. Sam Banks of Sergio & Banks has the listing.... Read more »