Astor Street Historic District – Chicago Real Estate Update

Astor Street- the crown of the Gold Coast – Chicago’s premier Near North neighborhood…

What does a home cost on Astor Street?

The homes for sale range from $2,385,000 to $8,000,000.

1242 N Astor - chicago historic homes for sale

1242 N Astor

$2,385,000

1442 N Astor- Chicago Historic Homes-Gold Coast

1442 N Astor

$8,000,000

Tour Chicago Real Estate with Anne RossleyTour Astor Street Homes

Select one of the links below to see homes for sale and homes that have recently sold on Chicago’s famous Astor Street

Computer (pdf) Format               Tablet Format

How Big are the Homes on Astor?

Several homes are 10,000 or more square feet – the smallest home that’s for sale or sold over the last 3 years has been 4500 square feet.

Homes for Sale and Recently Sold

The following chart includes homes currently for sale, as well as property that has recently closed. Contact Anne Rossley for more information on these listings.

StatStreet #Str NameList PriceSold PrClosed DateASFRmsBRBACarsMTTaxesBuiltLotRehab?
ACTV1242Astor$2,385,0005100964.30545$20,741.971891PER SURVEYYes
ACTV1308Astor$2,500,000NR944.11181$45,755.00188718' 6 X 100Yes
ACTV1310Astor$2,950,000NR943.10132$40,215.30188819X100No
PCHG1224Astor$4,250,000NR1155.11615$26,100.00190924 X 90Yes
ACTV1221Astor$5,900,00053001245.15207$33,981.56189250X67Yes
ACTV1400Astor$6,900,000100001477.12100$79,864.291886110X40Yes
ACTV1442Astor$8,000,00075001255.22278$53,758.00189050X110Yes
CLSD1240Astor$2,500,000$2,500,00012/20/075200954.10172$22,499.00188820X100Yes
CLSD1222Astor$3,450,000$3,030,0008/19/0845001054.12266$43,817.42188625X85No
CLSD1218Astor$3,850,000$3,450,00011/19/0750001144.10212$36,422.32190025X125
CLSD1431Astor$4,200,000$3,675,00012/13/07NR1554.32872$36,256.04189425 X 125
CLSD1207Astor$4,250,000$3,750,0001/13/1175001264.13232$39,089.83UNK27X107Yes
CLSD1318Astor$4,750,000$4,154,0008/29/1175001356.22176$24,498.00188921x132x21x129Yes
CLSD1511Astor$4,300,000$4,300,0004/2/0785451864.109$38,235.0030 X 125
CLSD1520Astor$4,950,000$4,425,0003/13/0861001244.21893$30,279.22191130 X 110
CLSD1400Astor$6,900,000$5,200,0003/28/08100001577.12979$66,766.021886110X40Yes
CLSD1451Astor$6,100,000$5,250,0003/17/0870001367.12310$29,441.77191028.5 X 125Yes
CLSD1449Astor$5,750,000$5,250,0004/8/101070011582144$28,426.00189033X125Yes
CLSD1416Astor$10,500,000$8,500,0003/5/07NR2056.14652$46,722.79191275X110

Historic Charnley House

Charnley House on Astor Street

Get information on Charnley House – Select this link

homes for sale - Jones College Prep High School

Find Astor Street Homes for Sale – Select this Link!

 

Other links of Interest:

History – Gold Coast Neighbors Association

Chicago Landmarks Page

Potter Palmer Houses – Designslinger

Joseph Ryerson House

Junior League of Chicago

Frommer’s Walking Tour

MetroWalkz Self-Guided Tour

The Archbishop’s Residence in the Gold Coast

Marking a Spot in the City’s History

Curbed Chicago – John Wellborn Root’s Home – 1310 Astor

Is Chicago’s Loop Affordable for Young Professionals?

StreetAdvisor Question this week:

Can a couple live affordably in Chicago’s Loop?

In order to answer the question, we need to know how much it costs to live there, and then based on the current interest rates, determine monthly costs. From that, we can figure out how much income one needs to purchase this mythical condo.

If the couple lives in a One Bedroom condo in Chicago’s Loop, Near North, or South Loop Neighborhoods….

I did research on 1,2, and 3 bedroom condos in Chicago’s Near North (8008), Loop (8032) and Near South (8033) neighborhoods, and I discovered the following:

  • One bedroom sales have increased between 20% and 36% in the 3 neighborhoods
  • Average taxes range between $ 3364 and $ 3723 per year.
  • Average assessments range between $ 445.39 (South Loop) to $ 590.26 in the Gold Coast.

Cost to Live in a One Bedroom Condo

Let’s determine the monthly cost of one of these one bedroom condos.

Assumptions:

  • Purchase Price:  $ 230,000
  • Down Payment: $23,000
  • Interest Rate: 4.5%
  • Taxes:  $3500/year
  • Assessment:  $500/month
  • Debt Ratio 28% of Gross Income

Monthly Payment Resulting from these assumptions:

  • Principal and Interest:  $ 1841
  • Taxes:  $291.67 (or, $ 292)
  • Assessment: $500
  • Gross Monthly Payment: $1841
  • Annual Tax Savings for Federal and Illinois:  $3254 (from Bankrate.com)
  • Net Monthly Payment (not including property tax savings):  $1569

What do you have to Earn To Afford This Purchase?

Lenders usually allow for more debt than this, but when I first became a Realtor in 1987, the 28% rule was always followed. (Part of why we got into trouble in 2008 was our relaxing of this 28/36 debt ratio.)

28% debt ratio means that the gross monthly payment can be no more 28% of the gross monthly income.

For this example, $1841 / 28% = $ 6575 per month.

Annual Income Required:  $ 6575 x 12 = 78,900.

Two Bedroom Condos –

Loop, Near North, Near South

Three Bedroom Condo Prices –

Loop, Near North, Near South

 

 Want to Learn More about condos in the Loop, Near North, or Near South Neighborhoods?

Are you ready to begin the first steps toward owning a condominium in Chicago?

Contact Anne Rossley

of Baird & Warner today!

 

Best 3 Bedroom Condos for Sale in Chicago

The most frequently requested property in Chicago is probably the 3 bedroom condo — and outdoor space of some kind is usually a “must have” for today’s buyers.

This post includes information for 3 bedrooms in 3 Chicago neighborhoods – Near North (including Streeterville and the Gold Coast), the Loop, and the Near South Side (South Loop).

Three Bedroom Sales Statistics

Three bedroom condos in the South Loop, Loop, and Near North are listed (on average) at $ 1.3MM, and they range in price from $ 335,000 to $5,900,000.  There are currently 271 condos for sale in these neighborhoods, and 336 have sold over the last 6 months — the inventory is low right now!

The properties that sold were under contract in an average of 97 days, and they sold for 96% of the listed price at the time of contract. (Many had price reductions during the listing — the sales price was 89% of the ORIGINAL listed price.)

Click Here  for Condo Sales Data for the Loop, Near North, and South Loop Neighborhoods

# Months Supply of 3 Bedroom Condos

Average Sales Prices of 3 Bedroom Condos

 

See What’s for Sale Today…

Select the appropriate link below and see what 3 bedroom condos are listed now:

Best 3 Bedroom Condos for Sale

$500,000 – $800,000

While 3 bedroom condos average over $1MM in these neighborhoods, I’ve found some terrific properties for sale between $500,000 and $800,000. Below are my top choices in what’s available today.

Take an online tour of these homes when you select this link.

Make an Appointment to find your  Chicago Condo!

Contact Anne Rossley of Baird & Warner

Unit List PriceSFDaysRMSBRBAEXPIncl?
520Huron419Loft$527,70017007632SWNo
1530State1011Loft$650,000210083632NENo
1629Prairie2705Condo$591,000156542632Yes
1346Cleveland3SDuplex$634,500NR96632Yes
240Illinois401High Rise$649,900NR28632.1SNo
530Lake Shore904Condo$675,0001900255633NENo
150Superior602Condo$699,00018157732NNo
21Elm2DMid Rise$699,000NR216632
1122Dearborn18JHigh Rise$725,0001750392732.1NWYes
1410State3BCondo$750,000200052632.1SENo

 

 

 

 

 

 

1325 N State Pkwy – Top 10 Things I Miss

1325 state- large 2 bedrooms in chicago's gold coast1325 N State Parkway – Tom and I lived there for over 10 years – we happened upon the top floor unit facing west, and when the next door unit came on the market, we snapped it up and combined the two. We ended up with 2650 square feet on one level in Chicago’s Gold Coast.

Only when Michael (our second) was due to come home from Paraguay did we finally decide to move to a single family. In retrospect, we didn’t have to leave. We could have raised our kids there.

1325 N State is one of a few Gold Coast condominiums whose floor plans are large and wonderful – the 2 bedrooms offer 1650 square feet – much larger than the typical 1200 square foot condominium in Chicago.

condos for saleTo see current listings of large 2 bedrooms

for sale in Chicago’s Gold Coast —

select this link.

Here’s the list of what I miss most

about living at 1325 N State Parkway:

10.  Jim, the old doorman. Slow as molasses but generally happy. The most laughable moment, when we brought Thomas home and he said, “Oh, he’s a dark baby!”

9. Valet parking – the parking garage was attached – no walking in the cold when setting off to my next destination! Guests could park at fairly cheap rates, when using my coupons.

1325 N State Pkwy8.  Being part of the crowd when Chicago celebrates – we yelled out the window and ran to Rush Street when the Bulls won their first and third championships with Michael Jordan.

7.  Being able to walk to work. Most of my real estate career has been in a Gold Coast office location. I could get to work in 10 minutes on foot. We walked to great restaurants and shopping, and we didn’t need to drive when returning from The Lodge or the Zebra Lounge!

6.  Storage – believe it or not, I had more storage in my condo than in my 2 vintage single family homes!

5.  Accessibility to Lincoln Park and the lakefront – we used to walk to the Lincoln Park Zoo with Thomas – in those days, we could feed the ducks (now there are signs prohibiting this activity!).

4. The roof deck and pool — not that I am a sun worshipper or swimmer, but I love the opportunity to pretend I am from time to time!

3.  Neighbors – we met some terrific people in that building, many of whom we’re still in touch with today – 16 years later.

2.  Views – we didn’t have spectacular lake views, as we faced the west. We did, however, have large windows with a panoramic cityscape. Sunsets were gorgeous and the city sparkled at night.

1. Living in one of the great neighborhoods (Gold Coast) in the world’s greatest city (Chicago!)

Call Anne Rossley

Email Anne Rossley

If you’re interested in seeing large 2 bedroom condos for sale,

or to get information on Chicago Real Estate in general,

Contact Anne Rossley of Baird & Warner.

UnitClosed DateListedSold ASF$/SFDaysRoomsBRBA
1325STATE20E9/26/13$475,000$445,0001650$269.7095522.1
1325State17E11/27/13$449,000$437,5001650$265.15172522.1
1325STATE18E8/22/13$414,900$385,5001650$233.6424522.1
1325STATE16B7/31/13$575,000$550,0001650$333.33163522
1325STATE6F1/31/13$489,000$484,0001650$293.3310522
1325State12B5/2/13$679,000$640,0001650$387.8840522
1325STATE19B7/19/13$425,000$405,0001650$245.45143522.1

 

1325 N State Parkway – 2013 Sales

To see photos and get information on condos that sold in 2013, select one of the following links.

IPAD version for 1325 N State

Desktop (pdf) version for 1325 N State

777 N Michigan Ave # 2401 – Best Value Condo for Sale on Magnificent Mile

It’s a race! Who will put an offer together first to win this BEST VALUE condominium?!

777 N Michigan Ave 2401

777 N N Michigan Ave #2401

$725,000

The sellers didn’t expect to sell, so their finest-quality upgrades will be enjoyed by the new residents for a fraction of the value!

Here are just of few of the many upgrades included in 777 N Michigan #2401:

  • Solid Brazilian cherry floors throughout
  • Luxury Kitchen with Fischer & Paykel dishwasher, Subzero, drawer microwave, Dacor cooktop…
  • Matching custom cabinet with Subzero refrigerator/freezer drawers
  • Solid custom doors and hardware, as well as custom HVAC cabinets
  • Top-of-the-line ventless Bosch washer-dryer
  • Built-in den/library with brand new Uline beverage refrigerator
  • Every bathroom (3.5 of them!) has been upgraded

777 N Michigan Ave 2401Master Bedroom

777NMichiganAve2401_viewer_177Kitchen

777 N Michigan Amenities

The building is topnotch! Located next to Nieman Marcus, the building offers

  • luxurious rooftop pool with comfy gazebos and grilling area,
  • new fitness center (currently under construction and opening in November)
  • soon-to-be-added hallway updates
  • 24 – hour door service
  • Valet Parking ($150/month)
  • Receiving Room
  • Party Room
  • Premium Cable/Wifi in assessments (as well as heat and air)

777 N Michigan ViewsViews from the Living Room

777 N Michigan Ave Floor Plan

777 N Michigan Floor Plan

For more information, to view the property, or to learn more about condominiums along the Magnificent Mile, contact

Anne Rossley

Baird & Warner

773-620-5333

401 E Ontario – Chicago Condo Building of the Week

401 E Ontario is a terrific East Streeterville building, and I saw a terrific loft-like condo there last week that sold (twice) almost immediately.

The building was built in 1989, and 394 studios, 1,2, and 3 bedroom units are found on the 50 floors. It’s a full amenity building – get information on the amenities by selecting the links toward the bottom of this post.

It’s a gorgeous building in a fabulous location – views from units can be wonderful, however that wasn’t the point of this condo – it was the flexibility of space and high ceilings/windows that aren’t found in most Streeterville condos, combined with the beautiful finishes that make it a very special property.

This unit (note – it’s not my listing – I was representing the buyer) isn’t like most of the units in the building, but it enjoys the same amenities! My buyer passed on it, reluctantly, for personal reasons. We both loved it, though, and we aren’t surprised it was snapped up immediately.

Check out some of the photos here:

401 Ontario Streeterville condos

401 Ontario Streeterville condo for sale401 Ontario - Streeterville condos for sale

Lessons:

  • In this market, make sure you work with an agent who’s constantly on the prowl to find units that meet your needs.
  • Sign up for search alerts on agent websites so you have instant access to new listings the moment they become available.
  • Often, it’s not how much off the listing price that matters- it’s the value compared to other similar properties that have SOLD and how the property compares to your individual needs.
  • The appraisal must be high enough in price qualify for your loan, but that number isn’t derived from the listing price, either.

401 E Ontario Amenities:

Bike Storage
Club Room
Fitness Center, Sauna and Showers
June’s Dry Cleaning, Laundry and Package Service
Laundry Center
Other Retail Establishments In 401 East Ontario
Parking Garage
Storage Lockers
Sun Decks
Swimming Pool and Jacuzzi

Special Streeterville Condo Searches

Streeterville One Bedrooms for Sale – Select this link to find Streeterville 1 Bedrooms for sale TODAY!

Streeterville Two Bedrooms for Sale – Select this link to find Streeterville 2 Bedrooms for sale TODAY!

To have a special search created just for you, select this link and include your search parameters.

401 E Ontario Sales Analysis

Note:  some units include parking while others do not — check with your real estate agent or call Anne Rossley to get more information on sales at 401 E Ontario.
 
 UnitListedSoldSF$/SFDateMTBRBAEXP
ACTV2307$255,000800$318.7510/28/1213511N
ACTV2503$275,000800$343.752/10/133011N E
ACTV3206$277,900800$347.3811/10/1241611S
NEW303$375,0001200$312.503/4/13211N S
NEW1309$434,9001200$362.423/2/13722N E
PCHG3203$254,90002/28/134811
Pend4302$649,9001800$361.062/25/1314732S W
Pend3501$275,000900$305.562/17/131911N W
Pend4303$299,000775$385.812/24/132011N
CLSD2604$229,000$247,50002/13/124011S
CLSD2403$219,000$208,00004/23/12711N W
CLSD1108$245,000$259,000800$323.755/31/1217411S
CLSD2401$269,000$289,000875$330.296/1/1227611N W
CLSD2804$229,000$245,000800$306.256/14/125211S
CLSD601$235,000$241,250900$268.066/19/1231811N W
CLSD201$299,000$297,50007/9/124512N
CLSD4202$649,000$615,0001800$341.678/17/1216232N W
CLSD2603$239,000$255,000800$318.759/12/121611N E
CLSD606$230,000$230,000010/8/1215111S E W
CLSD710$205,000$220,000900$244.4410/19/125711E
CLSD1410$219,000$242,500010/30/127011E
CLSD506$200,000$199,000700$284.2911/19/1219311S E W
CLSD3201$274,500$267,000900$296.6712/20/12711N W
CLSD2505$245,000$245,000700$350.001/14/13311N
CLSD3404$279,000$267,000800$333.753/4/1317611S

 

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