Friday, January 29, 2016

$4-$9 million dollar Lincoln Park high-end homes replace former DePaul theater building

The corner house at 2135 N Kenmore is listed in the MLS for $8.9 million.
I was in the Lincoln Park/ DePaul neighborhood for showings early this week and took a few photos of this significant development.  The six lot parcel of high-end single family homes on the 2100 block of North Kenmore in Lincoln Park takes the place of the old DePaul theater building.  The houses are listed on the MLS from $4.4 million to $8.9 million (at 2135 N Kenmore Ave, Chicago, 60614). A long time Lincoln Park luxury developer Environs is building the homes. street view of old DePaul University theater building in 2014.
Original buildings adjacent to the south of the development on the 2100 block of North Kenmore.
The DePaul neighborhood is a mix of these new homes and stretches of original buildings with great architecture. Not pictured here, but the 2000-2200 blocks of North Clinton are particularly vintage.  Over the last two years on the 2100 Block of North Kenmore 3 condos have sold from $250,000 to $450,000.  Two attractive vintage 3-flat buildings have sold for $1.2 and 1.43 million, a standard vacant lot of 25'x124' sold for $1.25 million and one resale single family home built in 2004 sold for $2.85 million cash.

New batch of high-end "speculation" homes in DePaul / Sheffield Neighbors area of Lincoln Park.

Wednesday, January 27, 2016

Chicago's Jefferson Township Property Tax Appeal Deadline Feb 2nd

40th Ward | Alderman Patrick O'Connor
Dear Neighbor,

Commissioner Bridget Gainer’s staff will be on hand at our office on Thursday, January 28, between 9 - 11 am  to assist residents with their Jefferson Township property tax appeal. Owners have until February 2, 2016, to appeal their assessment with the Cook County Board of Review either online or in person.

Our service office is located at 5850 N. Lincoln Ave. Please feel free to call us with any questions you may have at 773-769-1140.


Ald. Pat O'Connor

LINK to Cook County Board of Review


Copyright © 2016 The Daily Gazet | The 40th Ward, All rights reserved.

Mural at 925 W Diversey in Lincoln Park

View of the mural at Holy Covenant Methodist Church at 925 West Diversey (at North Wilton side of building) from the Diversey Brown line platform. I've looked at this painting for many many years and it's the first time I took a picture.  Public art and murals are part of the diverse city aesthetic but also can be economically beneficial.

Tuesday, January 26, 2016

Photo: Luxury 4 East Elm in Gold Coast nears completion, condo prices $2.5M - $4.1M

4 East Elm, Chicago IL 60611 (Photo Bob DePalma, Broker, Kale Realty).
We took this photo of the nearly completed  4 East Elm in Gold Coast last week after buyer showings nearby.  MLS listings for the 35 unit boutique building range from $2,500,000 to $4,100,000 on the MLS.  There is also a rental listing for $15,000 per month.  Listing details state unit delivery this spring. I think it's a nice addition to this section of the neighborhood.

Sold for $2 million, quirky Lincoln Park vintage home built in 1867 on double-lot torn down

1108-1100 West Webster Avenue Chicago IL 60614, sold in December for $2 million, is in the process of demolition as of yesterday. The vintage building with addition sits on two lots in the prime DePaul/ Sheffield Neighbors mixed retail and residential strip. No new construction permit is on file yet but a $5.8 million dollar mortgage has been recorded. (All photos Eric Rojas, Broker, Kale Realty).
The walk score is probably 115.

There are many, many tear downs around Lincoln Park. Once-in-awhile something catches my eye in the course of our day to day dealings.  This vintage building built around 1867 (with addition later) sits on a double lot at 1108-1110 West Webster in the DePaul / Sheffield Neighbors area of Lincoln Park.  West Webster Avenue is a mixed use retail and residential street that maintains many vintage buildings.  This little guy managed to stand out next to it's larger neighbors.

A rare small building on a large lot. Here's a 2008 photo prior to the demolition.
Mostly vintage buildings surround the recently doomed structure.
Homes adjacent to the west of 1108-1110 West Webster
According to public records a $5.8M mortgage was taken out on the property... expect something nice (and bigger).  Single lot single family re-sale homes on the busy blocks from 1000-1200 West Webster have sold from $850,000 to $1.6 million (in various conditions).  As mentioned above, 1108-1110 a double lot at 49'x 124' sold for $2,000,000 for the land in December 2015.

The location is just off the DePaul University campus, Trebes Park and the Fullerton CTA station. Not to mention dozens of shops, amenities and restaurants like Range, White Oak, Floriole, and Sweet Mandy B's steps away.

Monday, January 25, 2016

Under Contract! This Old Town apartment has us in a New York state of mind

Classic refinished parquet floors, city and lake views... it was love at first site (all photos Eric Rojas, Broker, Kale Realty).
Our Manhattan transplant recently secured a contract at 1360 N Sandburg #2401 last week (asking $355,000).  The Sandburg Village apartment in the Cummings House building in Old Town offered a touch of old city class while featuring move-in ready updates.  We attended the property inspection today on behalf of our out-of-state client. Bob or I always attend the property inspection.

Large high floor corner unit with coveted balcony.
City view looking south (spectacular when in the unit).
We helped our client (moving to Chicago for a new job) determine the best high-rise buildings on the Near North and North Sides with pros and cons, budget considerations, amenities and convenient locations.  All that is great but the intangibles of a classic feel and the cool corner views took front stage like in a Broadway play.  This is our second Sandburg Village deal within the last year.

The Cummings House building is just steps from historic landmark Germania Club building, Chicago History Museum, surrounding shops, tennis courts and the association pool.
Local Potash market and tennis courts across the street.

The contract is in attorney review.  We look forward to helping our buyer client with a smooth transition to Chicago and a stress free closing.  Check out one of our past sold listings at Sandburg Village HERE

Friday, January 22, 2016

Lincoln Square "Farmers Garden Market" property sells for near $1.2 million

The former Farmer's Garden Market site at 2232 W Lawrence Chicago, IL 60625 in Lincoln Square has sold (closed) for $1,175,000 according to records.  The lot size is listed at 83'x124' (roughly 3 city lots). The site has been approved for a new 14 unit mixed use condo development.

The three lots adjacent to the west (2242-2246 W Lawrence) were under contract according to the MLS as of December but they are now shown as "expired" without a recorded closing recorded.  

Many (myself included) are excited for the new building and have favorable opinion of the local guy Candea Development building the site.  More background on this strip of Lawrence Avenue development HERE . Lawrence has certainly been buzzing with more people since the road diet and opening of Roots Pizza and The Sixth. Demand will be very good for new housing units on Lawrence.


Thursday, January 21, 2016

Newest Lincoln Square tear-down on Hoyne sold for $419,000, new house construction continues near Winnemac Park

Continuing the long trend in Lincoln Square a new house will replace the old frame two flat at 4957 N Hoyne (all photos Eric Rojas, Broker, Kale Realty).  
I walked by the construction site for 4957 N Hoyne this morning.  The frame two-flat has been sold twice in two years for re-development and has now been torn down.  The property sold to an LLC in 2014 for $437,000 and sold again late last year for $419,000.  The property is one door down from Winnemac Park and and easy walk to Damen, Lawrence and North Lincoln Ave amenities.

Only the front stairs remained as of this morning.
The area of Lincoln Square surrounding Winnemac Park has seen many new houses built over the past couple years. At least 20 new construction or complete gut rehab homes have been completed over the last 24 months that I am aware of in the area closely surrounding Winnemac Park  (sales area shown below excluding the even more active Bowmanville north of Foster)

At least 20 newly constructed homes or dramatic complete gut renovations have been completed in the shaded area around Winnemac Park. Many more have been completed in the Bowmanville neighborhood just north of Foster.
Most of the new house builds and gut rehabs over the past 24 months were sold retail on the market. There are a few homes in development offered for sale "off MLS" right now and a couple "private" builds completed for the property owners themselves in the sales area.
The gut houses have sold from the lower $800s and the new builds up to $1.5 million on a wider than standard lot in the shaded sales area.

The crew was working just after 8am this morning.
The 4900 block of North Hoyne is mostly in-tact with original builds.  A couple brick two-flats have been converted to single family homes but the facades are for the most part original.
Check out greater Lincoln Square sales here

Wednesday, January 20, 2016

Northeast Avondale offers affordable re-sale homes and "gritty" opportunity close to Roscoe Village

A block of West Barry in the Avondale of Chicago has a large cleared out lot on the south side, industrial buildings on the north, a few single family homes and an old loft building at the end of the street.  The area has it's share of newer construction condos, rehabbed houses and some larger new development underway.
While many home buyers are getting priced out of tony Roscoe Village in North Center some are turning to the northeast pocket of the Avondale Community Area for condos or redevelopment opportunities. I've been watching the area for several years but 2015 has revealed some greater development potential.  My son attends baseball coaching at the Bash facility at 2617 West Fletcher among existing commercial buildings... so I snoop around the area during his sessions.

This pocket of the Avondale neighborhood west of the river has had some a good number of residential units added to the major streets and looks poised for more new development and changes on the interior residential streets.

The pocket west of the river and between Belmont to the north and West Wellington to the south has a mix of newer condo unit, vacant land, commercial building and multi-unit sales.  An industrial pocket in the neighborhood has a large development site along West Barry. Mixed about are several vacant and double lots are for sale, a burned out building sits at Barry and North Rockwell and a vintage mixed use loft building that looks like a survivor of the surrounding apocalypse.

 Sales recorded in MLS for 2015
17 condo (attached units) sold in the Avondale sales area outlined the above map over 2015.  The median price of a condo sale is about $260,000.  The highest attached unit sale in the area over 2015 is $385,000 at 3140 N Richmond St Unit 1, Chicago, Illinois 60618. The renovated 3 level town house featured garage parking. the 2600 block of West Belmont Avenue consisted of 10 of the 17 sales from $231,000 for a two bedrooms  foreclosure unit built in 2003 to a newly renovated  3 bedrooms duplex for $372,000 (also built in 2003).

7 multi-unit building have been recorded as sold in the sales area above. The highest sale is a three flat at 2948 W Nelson St , Chicago, Illinois 60618 for 548,500.  A frame two-flat at 2723 West Barry (west of Elston) sold for as a short sale for $190,000 cash.

12 single family homes were sold in the sales area of Avondale shown above in 2015.  The median price is about $490,000.  The highest sale is $775,000 for a 2005 built house at 2843 W Nelson St , Chicago, Illinois 60618. The well appointmed frame home sits on a wide 37' lot.  

One large land deal was completed at 2701 W Belmont Ave , Chicago, Illinois 60618 for $1,315,000. The property has 107' frontage on Belmont and extends 125' deep for approximately four city lots. A four story, eight unit building is in development on the property with an estimated project cost of $1.2M.
A "foodie complex" is in development along the river with Metropolis Coffee as one of the tenants.  A fire at 3057 N Rockwell just before Christmas damaged one of the complex buildings.

The 2600 block of West Belmont is lined with three unit condo buildings just west of the river on the south side of the street.  Town homes and duplex units line the north side of Belmont with access to a riverfront path and green space.

The gritty industrial look remains and will probably exist even after some more development.  However there are some cool lots and old properties for sale on the interior among the commercial strips. These would make a great spots for custom, modern house builds for the urbanophile.     

Family business?

Amalia's home design. Not sure what all the items are in the key.

I hope one or more of my four kids end up in the business with me in some way or another.  I pegged my 6yr old daughter for my Ivy League attorney but it appears she may be our architect.  We've also offered to send our 3yr old to work with Artistic Construction to pick up some trades. 

Tuesday, January 19, 2016

High-rise recycling not a bunch of rubbish!

Forward thinking condo associations can make the difference for high-rise buyers choosing a unit. Photo Eric Rojas, Broker, Kale Realty
We've been showing and dealing in a lot of high-rise buildings with our buyer clients in Lakeview, Lincoln Park, Gold Coast and Streeterville to start out the year.  One cool - and rare - feature was this recycle bin option at 330-340 West Diversey located at the floors' trash room.  Press the button for regular trash or recyclables at the garbage shoot system on each floor. It was quite the presentation and we were all very impressed, seriously LOL.

The city has written a plan to help your building... thanks Chicago. 

WBEZ deep dive into Chicago recycling politics

Under Contract! Mies mid-century unit at 330 W Diversey offers views, fun lifestyle

The Mies designed towers at 330-340 W Diversey, Chicago 60657 (Photo Eric Rojas, Broker, Kale Realty).

Our clients recently secured a contract at 330 W Diversey #2304 (asking $309,500).  The high floor has been renovated with warm, open kitchen and features lake and city views.  The Mies designed mid-century buildings built in 1957 occupy a prominent spot at the East Lakeview and Lincoln Park border along the lakefront. It's a beautiful part of the city.

The condo association offers outdoor pool, play-lot, on-site market (with good sandwich and beer selection), 24hr doorman, Internet/cable bundle, bike rooms, innovative recycling program and more.  They seem very forward thinking from our many interactions.  The condo will be an "in-town" home  where grandparents can come and visit their kids and grandchildren in East Lakeview.

330 Diversey sits at the gateway to fantastic parks (with running paths, play-grounds, tennis courts etc...), Diversey Harbor and the lake to the south and east. Diversey Parkway and North Clark Street is full of restaurants, bars, retail and quality groceries just steps to the west.

The contract is through attorney review and inspection periods.  Congratulations to our repeat clients and their family.  Lots of good memories to come at "Grandma's condo with the pool and playground!" Check out some sales stats for 330-340 West Diversey from December.

47th Ward Community Meeting for proposed Ravenswood Senior Housing

4501 N Winchester Chicago IL 60640 (Photo Eric Rojas, Broker, Kale Realty)
Community Meeting for proposed Senior Housing at 4501 N Winchester (shown above).
Wednesday Feb 3rd, 7PM
 Lycee Francais Chicago (cafeteria)
1929 W Wilson

Friday, January 15, 2016

Report: Lakeview Wal-Mart Express to close

Pictured is 2844 N Broadway Wal-Mart.  Alderman and are reporting the Wal-Mart Express concept at 3636 N Broadway St in Lakeview is closing down (among many other stores "around the world").
The Lakeview Wal-Mart will close.  Long live Walmart! I've heard some positives about the cheap goods available. However,  I prefer a traditional Jewel Store (3531 N Broadway) or Mariano's type concept personally.   A new Mariano's is coming to 3030 North Broadway just up the street.

We work with a lot of clients living in this immediate area and we are very interested in the coming and going of retail and residential developments.

Photo! New DePaul School of Music under construction

We grabbed a photo of the DePaul School of Music construction yesterday crossing Lincoln Park on showings.
DePaul University continues it's new construction run with the School of Music building on North Halsted Street just south of Fullerton.  The school recently completed The $72 million Theatre School building.  Other improvements and construction within the last 5 years include Cacciatore Stadium,
 and  Arts and Letters Hall.

DNAinfo wrote a nice overview of DePaul's 10 Year Plan in 2014. 

Thursday, January 14, 2016

This one hurts! Lincoln Square charmer on West Giddings to be torn down

The days are numbered for 2112 W Giddings in Lincoln Square. Photo Eric Rojas, Broker, Kale Realty
A wreck and remove permit has been issued for the warm blue cottage on a 37' wide lot at 2112 W Giddings.  The house needs some TLC as of late but has always caught my eye through the years.  The attractive traditional home with mature landscaping is quintessential Lincoln Square.

Summer photo via from Cook County Assessor . I know, breaks your heart right?!
Thus is life and the market for Lincoln Square, Chicago these days for properties on 37' wide lots.  The last four single family homes to sell on 2200 - 2400 West Giddings over the past two years closed from $1.1 million to $1.9 million on 37' lots. Three of the four homes sold were newer builds while one was a gut renovation of an existing frame home (made much larger than 2112 W Giddings seen here).

The housing landscape both north and south of Lawrence continues to change with luxury new builds. There is an occasional build with a nod to modern design (and very rare ultra-modern new build) but most new houses built in the neighborhood are very traditional but always maximizing square footage on the lot. An impressive host of infrastructure improvements, restaurant openings, school options and access to transportation in the 47th Ward has consolidated well heeled buyers to the area.

More Lincoln Square posts HERE

Wednesday, January 13, 2016

Newest tear down today in Bowmanville... plus house sales

(All photos taken today by Eric Rojas, Broker, Kale Realty)  2155 W Farragut changed hands in December "off-market" for $350,000 according to public records. 
A new construction permit has been issued for 2155 W Farragut, Chicago IL 60625 signaling the end for this early 1900s frame home in Bowmanville.  The property was recently acquired "off market" for $350,000 and a mortgage of over $800,000 was taken out for the construction. Bowmanville is a well established community that has seen accelerated new construction house demand due to popular Andersonville and Lincoln Square businesses and parks nearby.

2155 W Farragut on the left will soon look like it's new neighbor on the right.
A similar frame house next door at 2159 W Farragut was recently bought in 2014 foreclosure sale for $290,000 and developed for a personal home (rather than speculation sale).  The same owner/ builder will complete the 2155 W Farragut house construction.  My spin around the neighborhood this morning revealed several new construction and major rehab projects already in progress.
2141 W Berwyn was acquired for $340,000 late last year according to public records and issued a new construction permit in December.

2148 W Berwyn was bought in 2014 for $351,000. Work on the gut renovation and expansion continues while a for sale sign adorns the lawn. There is no public or MLS listing I can find as of yet.

Bowmanville neighborhood single family home sales 2015

24 single family homes sold in 2015 with a median price of about $715,000. Five of those homes sold for over one million.  Three Bowmanville re-sale single family homes are currently under contract. As of today, nine homes are offered for sale.  Of those nine, three are new gut renovations up to $850,000 and one is new construction for $1,200,000.

Another rehab in the works on Farragut
Several other projects are ongoing and one can expect similar new construction and re-sale activity to ramp up in 2016.  Check out Bowmanville sales stats we wrote about earlier last year.

News you can use: Condo Refuse Rebate deadline extended

Active Chicago condo associations take advantage of city programs.
You live in a condo building? Are you on THE BOARD? Be a hero and save your neighbors some money with this odd but real rebate program.

Refuse Rebate deadline is February 9th, 2016... explained here by 40th Ward Alderman Pat O'Connor's web site.

That King Tut building in Lincoln Park is a landmark

2325 N Clark, Chicago IL 60614 has a peculiar Egyptian facade and this somewhat iconic advertisement that sticks out over a vast swath of down-zoned Lincoln Park (photo Eric Rojas, Broker, Kale Realty). I first noticed the building facade after many early morning exits from Ravens across the street many moons ago.
I finally took a picture of the Reebie Storage and Moving Company advertisement from my high perch at 345 W Fullerton in Lincoln Park last Sunday.  Here's the scoop on the Chicago landmark building at 2325 N. Clark Street where the Egyptian pharaohs call home.

And if you're bored... remember this Steve Martin bit?

Tuesday, January 12, 2016

A great building in Printer's Row: 600 South Dearborn sales and views

Printer's Row looking like Printer's Row. One of the views looking south from 600 South Dearborn Unit 616 offered at $329,000. Photo Eric Rojas, Broker, Kale Realty. Condo listing by Thomas Feddor, Dearborn Street Realty
We were back viewing 600 South Dearborn over the weekend. Our client will be working in the heart of downtown and this building offers great location, historic neighborhood and attractive price-point. The loft like units are very unique and owners have manipulated the various floor-plans.  It's aesthetic particularly attracts artists like our client. Units generally have tall ceilings and lot's of wall space for displaying art and the almost quaint block is a pleasure to step out on.
Looking out east at original building's in Printer's Row from Unit 616. Views, atmosphere and surrounding buildings are crucial for many buyers and affect real estate values. Printers Row delivers on urban, historic aesthetic.
Originally built for railroad offices in 1911 the Transportation Building was converted to apartments designed by architect Harry Weese circa 1982.  600 South Dearborn Street is located in the Printing House Row District. 

According to the Wikipedia entry "The Printing House Row District is a U.S. historic district on the 500 through 800 blocks of South Dearborn, South Federal and South Plymouth streets in the Loop community area of Chicago, Illinois. It was listed on the National Register of Historic Places as South Dearborn Street – Printing House Row Historic District and listed as a National Historic Landmark as South Dearborn Street – Printing House Row North Historic District on January 7, 1976".

600 South Dearborn condo sales
The last 12 months have been very dynamic for 600 S Dearborn sales. 25 units have sold with a median price of about $235,000. The median price range will get you a one bedroom, one bath unit with an average assessment around $375.00 in the building.  The building is listed at 294 total units but I'd guess it's a dozen fewer officially with combined units.

The highest priced unit sold in 2015 is 600 S Dearborn St Unit 1316 for $325,000 with a $475.00 assessment. It's a great value for a fully renovated 2 bedrooms, one bath virtually downtown location at 1,400 sq/ft. A second bathroom can be added without disturbing the main floor-plan. The lowest sold unit is 600 S Dearborn St Unit 2110, Chicago, 60605 for $183,000. The one bedroom foreclosure needed a complete rehab.

We will continue to show the 600 S Dearborn building for buyers that want a cool urban aesthetic and unique condo units. Amenities include 24hr door staff, small exercise room, laundry room and bulk Internet/cable deal.  The location has terrific access to CTA trains and the highways.

Saturday, January 09, 2016

High-end North Hermitage Avenue in Ravenswood gets... higher-end

A new double lot house pops on the right next to a recently built high-end double lot house on the 4400 block of North Hermitage.
I wrote about this block and the house on the left back in 2012 when you could get a lot for a song. A new double-lot house is going up at about 4437 N Hermitage.  I don't believe there is a recent sale of the property but rather current owners developing with a $3.9M mortgage taken out to build.The block is considerably high-end and features some very nice looking houses.

Developed new construction homes on the block have sold for well over $1.5M to the market. These custom double lot homes have yet to come on as a re-sale and will fetch in tbe $3 and $4 million range.