Alderman O'Connor to address Friends of Winnemac Park this Tuesday at Amundsen High School

You're invited!
This month's Friends of Winnemac Park meeting will feature 40th Ward Alderman Patrick O'Connor as we discuss volunteering, issues, programs and more events. 

Announcing MORE Movies in the Park dates!

Tuesday, January 20th 6:00pm to 8:00pm

Amundsen High School Library

5110 N Damen Avenue

Enter Main Center Door on Damen Avenue

Alderman O'Connor addresses past Friends of Winnemac/ Winnemac Neighbors volunteers (Photo Eric Rojas)

There is growing interest and support for Friends of Winnemac Park as we look to increase resources and events. Please attend the meeting and consider nominating yourself for the Friends of Winnemac Park Board.  Play a role, big or small, in preserving the quality of Winnemac Park.

 Board member and officer elections to be announced in the near future.

Contact info@winnemac.org for more info!

Curious vacant buildings in prime Oak Street, Gold Coast location

It was a little surprising to see these three contiguous vintage buildings still vacant at approximately 108 West Oak to 112 West Oak Street just a couple blocks west of the recent $14 million dollar Starbuck's building sale. The two furthest east properties have Quality Excavation signs posted. The parcels are zoned C2-5 for mixed use commercial and residential. Photo Bob DePalma and Eric Rojas, Brokers, Kale Realty

We just read a story in Crain's Chicago Business this week that the flagship Starbuck's property on 1003 N Rush Street, Chicago IL 60611 at Oak Street in Gold Coast sold for $14 million last month.  Then we walked by these properties (pictured above and below) on West Oak Street and noticed the green Quality Excavation signs on the two furthest two properties to the east. 

"Oak 112" at 112 West Oak Street, Chicago IL 60611 (furthest left) was operating as a bed and breakfast/ guesthouse up until June of 2014 according to their web site.  The 112 West Oak property sold for $1,500,000 according to public records recorded in January 2014 (off the MLS).  Photo Bob DePalma, Eric Rojas, Brokers Kale Realty.

The really cool Chicago Cityscape web site shows vacant building violations at 108 W Oak Street from 2009  and vacant building violations at 110 West Oak Street from 2012. 

There is little information in general about 112 West Oak Street as a business.  Lonely Planet did a short recommendation for the guest house.  However, the property was listed for sale several times on the MLS from about 2011 to 2012 for about $1.7 million.  The property was recorded as sold in January 2014 for $1.5 million to a family trust here in Chicago.

Looks like the end is near for this original Gold Coast row house at 108 W Oak Street.  Development and noteworthy real estate transactions have really ratcheted up in the past 12 months.  The properties from 108 to 112 West Oak are zoned C2-5. Photo Bob DePalma and Eric Rojas, Brokers, Kale Realty

• Zone: C2-5, Commercial / Mixed-Use
• Shopping centers. Allows more business types than B1 districts, including liquor stores, warehouses, and auto shops. Apartment allowed above the ground floor. secondcityzoning.org

The 112 West Oak purchase at $1,500,000 looks like a great buy.  The $14 million Starbucks building sale (pictured below) is reported at $3,191 per square foot.  That's some expensive space you're taking up with your lap top.

Starbucks at 1003 N Rush Street in the Gold Coast. Bob DePalma and Eric Rojas, Brokers, Kale Realty

The three contiguous parcels have flexible zoning and are prime for development. What will the venerable Gold Coast get next?

Trumped! Top 3 Condo Sales in Chicago's Near North for 2014

A near 15,000 square penthouse at Trump International Tower and Hotel, 401 N Wabash, Chicago IL 60611 was the highest sale in Near North Community Area this year at $17 million cash. It is reportedly the highest ever price paid for a condo in Chicago. Photos Eric Rojas and Bob DePalma, Brokers, Kale Realty

The List: Top 3 Condo Sales in the Near North Community Area for 2014

A Trump Tower unit led an impressive year of luxury condo sales in 2014. Price per square foot for luxury homes in the most desirable locations seemed to know no bounds this year.

1. $17,000,000, Trump Tower, 401 North Wabash, Unit 89A, Chicago IL 60611.  The "5 Bed, 7.2 Bath" 14,260 square foot River North unit Closed 10/7/14, Cash deal.  The condo is raw, unfinished space and had an asking price of $32 million. Trump Tower had 55 closed sales in the MLS for 2014 with a median price of about $1,170,000.

 2. $7,400,000, 209 East Lake Shore Drive, 11-E, Chicago IL 60611. 3 Bed, 3.2 Bath, 5,700 square feet. Closed 6/26/14. Cash deal in a Co-op building.

 3. $5,250,000, 159 East Walton, 21A Chicago IL 60611  "Pamolive Building". 3 Bed, 3.1 Bath, 4,732 square feet. Closed 7/3/14. Conventional mortgage financing. The Pamolive Building had 14 unit sales in 2014 for a total of $22,334,375 in sales volume.

All sales stats gathered and interpreted from MREDLLC.com by Eric Rojas and Bob DePalma.

Photo from Michigan Avenue Bridge, Eric Rojas, Broker, Kale Realty

Taylor Street, that great (restaurant) street: Condo sales in Little Italy, University Village

We had a great dinner in Little Italy Saturday with friends at the long time hip, yet warm Davanti Enoteca, 1359 West Taylor Street, Chicago IL 60607

Everyone knows that Taylor Street has a ton of great restaurants.   With all the great choices now in Chicago to eat and live we may forget about an original foodie destination... Little Italy.  The area is also a robust residential area to live serving many close by Chicago institutions, universities, transportation, highways and the Loop. What's it cost to live in a condo in Little Italy/ University Village neighborhood?  How are sales looking?

University Village neighborhood map Google Maps and YoChicago.com

Little Italy/ University Village condo sales 2014
Sales mimicked many of Chicago's desirable sub neighborhoods where we see actual units down a bit and median prices up a bit.

149 attached units (condo, town houses) sold in 2014. Many on streets with "Village" and College" in the name.  The median price for a condo in this near Loop location is about $275,000. 170 units sold in 2013 with a median price of $262,500.

The highest priced attached home sale in University Village  for 2014 is a town house style  at 727 S Racine Unit A, Chicago IL 60608 for $640,000.  The large "Tuscany Club Villa" home was built in 1994, has three bedrooms, three and one-half baths, a finished lower level, two car garage (with additional two car parking pad) and is a few blocks from the heart of Little Italy dining.


The lowest condo sale is 1550 S Blue Island Ave, Unit 1019, Chicago IL 60608 for $80,000.  The two bed, one bath condo sold as a short sale with a conventional loan (not cash).  The condo has a modern concrete loft style and looked to be in great shape.  The 1550 S Blue Island condo building had the ten lowest sales out of the 149 unit sales. 9 of 10 of those units were listed as one bedroom units.

From YoChicago.com:
The University Village neighborhood shares its name with a large residential and commercial development that began in the late 90s. The neighborhood is part of Near West Side, one of the city's 77 official community areas.
The neighborhood's boundaries are 16th St to the Eisenhower Expressway, the Dan Ryan Expressway to Ashland Ave (1600 W). Little Italy / Taylor Street is a part of University Village.
ZIP codes: 60607, 60608.

Old Town? More like Cold Town

Sideways snow at North and Wells intersection (photo Eric Rojas, Broker, Kale Realty)

I like my spot here in the pretty awesome Old Town Starbucks at North and Wells than out there... it's for the dogs.

Winter fun at Warren Park skating rink, sledding hill in West Ridge

Amalia watches Ryne hit the deck on the large skating rink at Warren Park, 6601 N Western Avenue, Chicago IL 60645 in the West Ridge Community Area (Photos Eric Rojas, Broker, Kale Realty

We had one shot last weekend at some winter fun before the deep freeze and we took it.  For "North Siders" Warren Park offers the closest option for ski resort life.  The easily accessible ice rink and sledding hill (there's a parking lot!!) will make sure your city kids get outside for proper winter sports.

Here is a list and hours of Chicago Park District Ice Rinks

A "warming house" with bathrooms and $6.00 skate rentals sits in the background.

The sledding hill is more than adequate for elementary school and teens to get a thrill. Great for snowboard practice. The photo doesn't show it well but the incline is good and stairs make it easier to get up the hill.

Last time outside for a week!

 West Ridge single family home sales

About 153 homes sold in West Ridge over the last three months with a median price of about $318,000.  The median price can get you a totally rehabbed raised ranch three bedroom house near Warren Park, Indian Boundary Park AND Rogers School Park.  Like parks?  Get a move-in ready house well under $400,000 and enjoy the outdoors.

Timber lofts in Steeterville... Really?

 

The entrance at 540 N Lake Shore Drive, Chicago IL 60611. All photos Bob DePalma, Broker, Kale Realty

 We were recently contacted by a condo owner at 540 N Lake Shore Drive in Streeterville. We quickly recognized the address as a vintage loft conversion. Yes, it's true. In this dense luxury high-rise neighborhood -where new construction seems to have  no end in sight- is a unique timber loft property. If that is your style, the location at 540 North Lake Shore Drive can't be overlooked.

Not your typical Streeterville building these days. 540 N Lake Shore Drive, Chicago IL 60611 is a timber loft throwback at the lakefront in a densely populated glass and steel jungle. It's more famous neighbor Lake Point Tower at 505 N Lake Shore Drive peeks over the top.  Photo Bob DePalma, Broker, Kale Realty

Built in 1912, and converted in to condo in 1992, 9 loft style homes sold in 2014 ranging from a short sale studio apartment at $171,500 for 772 square foot unit (quite a deal) to $750K for a combined duplex unit of approximately 2500 square feet.

YoChicago.com has a nice write up from about two years ago with a little history on 540 N Lake Shore Drive.

While 540 N Lake Shore perseveres new glass towers continue to rise in Streeterville.

Call us to buy or sell or rent Streeterville units... Bob is a veteran of the neighborhood!

Moving on up! Unit Sales Up 27% in 2014 at 2 East Erie in River North

2 East Erie, Chicago IL 60611 in River North.  Photos Bob DePalma, Broker, Kale Realty

 We often view 2 East Erie, Chicago IL 60611 in River North.  Client's like the fact it's a more recent 2002 construction high-rise in a very desirable "eastern" location of River North. Views, iconic buildings, hot new mega-spots like Eataly, old touristy classics like Shaw's Crab House and Howl at the Moon or shopping at Bloomies... you name it.  2 East Erie is in the middle of the action and close to CTA Red Line stations.

Old spots, new trends and icons within every direction of 2 East Erie

Here's a snap shot 2013-2014 unit sales at 2 East Erie.

 

Unit sales in 2013 = 22

2-Studio units sold with average price $205K

11-1Bed/1Bath sold with average price $263K

3-2Beds/1Bath sold with an average price $361K

6-2Beds/2Baths sold with an average price $494K

Unit sales in 2014 = 28 (up 27%)

4-Studios aver price $184K (although the lowest sale was $131,000 while the three others averaged $205,000)

12-1Bed/1Ba ave price $311K

2-2Beds/1Baths ave price $346K

10-2Beds/2Baths ave price $509K

The largest price jump is average price of a one bed unit up 18%. All of that does depend on finish level, floor, parking spot, view etc.  However, it appears buyers were paying more for a one bedroom units in 2014 than then they were in 2013.

2 Beds/2Baths average price was up only 3% and the other style units dropped a little.

There are many high-rise buildings with one bedroom homes in River North.  However, once you factor building amenities, age, location price and assessments it gets easier to narrow down the good choices in budget.

Boom Town: West Lakeview getting Target... just like Brooklyn! UPDATE: Could be bigger Whole Foods

The new "city sized" Target site at 3201 N Ashland, Chicago IL 60657 (the Lincoln and Belmont intersection) in Lakeview (all photos Bob DePalma, Broker, Kale Realty).

UPDATE  2/7/15: This location will likely be a new Whole Foods Market
In case you have not heard the busy, bustling Ashland / Lincoln / Belmont intersection in the western portion of Lakeview (the moniker West Lakeview has stuck) will be getting a city Target store.  Here are some photos we took of the demolition site just before the December holiday season hit.

Going smaller for  "big box" stores in vibrant, dense locations are reported as a trend.  Brooklyn is getting a Target... that makes Lakeview cool too right?

There is also a new retail development leasing space at Ashland and School across the street from the Whole Foods Market (retail photo below). This is truly a location that has everything withing walking distance... grocery, gyms, dry cleaners, coffee shops, cafes, restaurants, clothes and small to big box retail.

New "vanilla box" retail is being marketed at West School and North Ashland in Lakeview

 

Near North: Sandburg Village one bedroom condo sales

Walking up to Sandburg Village last week (Photos Bob DePalma, Broker, Kale Realty)

We've spent a lot of time viewing and researching one bedroom condos with our clients in the Sandburg Village development of Near North Community Area.  The location is directly between Old Town nightlife and Gold Coast shopping.  Owners and renters of the Sandburg Terrace buildings also have access to outdoor pools (about $140.00 for a season pass) and tennis courts in the warmer months.

James House at 1560 N Sandburg Terrace, Chicago IL, 60610

OK, let's take a look at 2014 sales. Around 60 one bedroom units sold across all the Sandburg Village buildings after you strip out all the junior one beds. A closer look at a couple buildings we work in often reveals typical price ranges from $200,000 to $275,000.

1560 N Sandburg Terrace, Chicago IL 60610 (James House) is the largest, newest and nicest (in our opinion) with 520 units. 17 one bedroom units sold in 2014, ranging from $200K for a low floor, no view unit to $273,500K for a high floor east facing unit.

1355 N Sandburg Terrace, Chicago IL 60610 (Dickinson House) is more typical on the Sandburg campus with 243 units. 10 one bedroom units sold in 2014 from $189K to $247K.

The leafy primo location offers a terrific Chicago high-rise lifestyle at a relatively affordable price.  Amenities, views and quick access to several of the city's most venerable neighborhoods can be found in Sandburg Village units. Someone new or old to Chicago can also find a common bound with neighbors in this "campus" environment.