Thursday, July 25, 2019

Sold! Contemporary gut renovation single family home in the heart of Lincoln Square

2130 West Eastwood is a unique, contemporary home just two blocks from the best of Lincoln Square shops and restaurants. The recent gut renovation sits on a wide lot sold for $965,000. (Photos courtesy Chicago Realty Partners LTD, Broker and 360ViewChicago.com)
Our clients upgraded to a character filled gut renovation house on a terrific Lincoln Square block. The initial asking price of $1,099,000 and the CTA tracks behind the house were obstacles. However after viewing several other options further out from the center of the neighborhood the family could not deny this was "the one"! We helped work out a fair deal and our clients got their perfect location!


Warm wood and light bright cabinets and counters... very Scandinavian design.  Look at that massive island! Oh and the pot filler. Just don't turn it on without a pot under the faucet!

The finish level is unique and well done. The home feels light and bright. In fact, when our clients had gone under contract on the home another group of clients (unbeknownst we were the buyer's agent on the deal) emailed me asking who was the architect and designer! They want to do a similar rehab to their property.

The home has lots of built-ins, cool windows and custom mill work touches.

True indoor/ outdoor living. The doors open wide to the large deck.

A well placed powder room on the main floor with high style.
We all geeked out to this main floor mudroom/ laundry room.  There is also a laundry room on the expanded 3rd floor (yes, this house has one more finished floor than the typical homes at this price-point).


The entire top floor (3rd floor over grade level) is a master suite with sitting room, laundry and full master bath.

Well executed master bath. We really loved the faucets and wood vanity choice.

In addition to a wide lot with great side yard the home features a wrap around deck off the kitchen.
You can view more photos and details of the property HERE. We are excited for our clients and their family. What a cool house and location to live in! Shout out to our awesome contractors and service partners who checked out some of the major home structures and systems on behalf of our buyer clients. Contact us today to find great North Side Chicago homes. We have pre-market and private listings available. If you need to renovate or sell, call us first!

Buyer's agency by Eric Rojas, Broker, Kale Realty
2447 N Ashland, Chicago IL 60614
773-510-1597 - erojas@kalerealty.com
ericrojasblog.com

Tuesday, July 23, 2019

A slice of Logan Square with river views

Great views from the river-walk at the "River's Edge" development near the Western and Diversey intersection in Logan Square.
I had some business in the "River's Edge"development community in the far northeast corner of the Logan Square. The row house and condo development has been there for some time tucked in between the Western/ Diversey corner and the river. There is a great courtyard feel on the 2800 Block of North Bell that feeds into a river walk. Coming off of Western or Diversey it doesn't seem like a desirable location. But once inside the development you feel like you have discovered a secret.

The river walk path looking north at the end of North Bell just north of West Diversey Avenue.

2800 block of North Bell Avenue looking south. The condo building and two sets of row homes form a private feeling courtyard. 

Row homes on the 2800 block of north Bell.

River walk path looking south.

Although I have been in this little pocket several times I was surprised by the new single home construction on my visit last week. A couple homes are completed with a few more coming. A new row home development was completed and sold out in 2018.

A completed home and one in progress along the river at what is West Wolfram and North Bell.

Another completed single family home has a unique and spectacular position along the river walk. What an awesome deck to sit out on! There looks to be room for two more single family homes next to this one for about five total.

Condo and row home sales

56 condos and row homes have sold over the last twelve months in the mapped area below (attached units along the river walk pocket). The median price of a closed unit is about $390,000.  The highest sold attached unit is 2823 N Oakley Unit A for $754,000.  This beautiful four bedrooms row home has fantastic river views.  The lowest priced sold unit is 2317 West Wolfram Unit 413 closed at $237,000. The top floor soft loft has one bedroom, one bathroom, garage parking and it's an elevator building!

We have several Logan Square properties were either listed, coming soon or under contract with our buyers. Call us today if you are looking to buy or sell on the north side!

Thursday, July 18, 2019

Update! 2 East Oak in Gold Coast to sell to investor

I just posted today about the potential sale of 2 East Oak high rise in Chicago's Gold Coast. Investors have won the support of over 75% of the condo association to sell the building according to Crain's Chicago Business.

We've had a lot of experience with this building over the years. I think it is in good position to charge more affordable rents then the recent trend of new construction luxury rental condo buildings near downtown. 

Lively Gold Coast condo building rejects $92 million offer

Investors made a bid to buy 2 East Oak in the heart of Gold Coast to convert back to rental apartments. For now the owner's vote has "rebuffed" the $92 million offer. (All photos Eric Rojas, Broker, Kale Realty)
My business partner once lived in venerable... maybe infamous... 2 East Oak in the heart of Gold Coast. The condo building offers mostly smallish condos at a decent bargain for the neighborhood. The rooftop pool deck is worth the looonnnng winter wait!  A recent $92 million offer to buy the entire building and convert the building back to rental apartments has been turned down so far. 

If I'm an owner I may not want to give up these pool deck views!
It is not unusual for an entire condo building to be purchases. Association owners must approve a sale by 75% vote of its members. Crazy right? I've researched condo building purchases from twelve units to 100s of units. The idea is unit owners will cash out on their units for a higher price than they would if they sold individually on the market.  The investor then converts the building to rental apartment units. My guess is the investor could position these units as more affordable than the newer construction luxury market.

2 East Oak Sales
22 units have closed over the past 12 months. The median price is about $223,000.