Mary Kaye and I get lots of questions from buyers about the difference between buying a co-op apartment in Chicago and buying a condo. Below are the key differences between the two.

The number of listed downtown Chicago luxury condos for sale in the first quarter of 2012 was down 19.7% compared to first quarter 2011.^* There were 509 downtown Chicago condos for sale priced $1,000,000 or higher in the first quarter down from 620 a year ago.

As shown below, the quarterly inventory of downtown Chicago luxury condos for sale has been dropping during the past 3 years. In the first quarter of 2009 there were 835 such condos for sale.

Downtown Chicago Luxury Condos For Sale 1st Quarter 2009 - 2012

The luxury price range that experienced the largest drop in the first quarter was the $4,000,000 to $5,000,000 price range. There were only 8 downtown Chicago condos for sale in that price range down 60% from a year earlier.

The number of downtown Chicago luxury condos for sale isn’t down in all luxury price ranges. The number of downtown Chicago condos for sale priced $5,000,000 and higher in the first quarter was up 54.5%. There were 17 such condos for sale.

DOWNTOWN CHICAGO LUXURY CONDOS FOR SALE

Click below to see the downtown Chicago luxury condos for sale by price range. You can narrow the results by internal and external features. Pending sales are excluded.

To see downtown Chicago condo & co-op reviews and what’s for sale in those buildings see DOWNTOWN HOMES FOR SALE above in the right column.

^* includes co-ops and townhouses

A few vintage condos are for sale at 2100 N Lincoln Park West, a Chicago vintage condo located in Lincoln Park. Here’s a review of the building and the condos for sale (none are my listings) along with photos.

The Pierre

THE LOCATION

2100 N Lincoln Park West is located on the corner of Dickens and N Lincoln Park West overlooking the park. The building is situated across the street from Lincoln Park’s Zoo. The building is considered very walkable with a Walk Score of 80 and a Transit Score of 70. There are 12 nearby bus routes. The Red Line Stop at Fullerton is a little more than a mile away just east of Fullerton & Sheffield. See its interactive Walk Score Map below.

THE BUILDING

The Pierre is a vintage building constructed in 1919 that was originally a hotel. The building houses 102 unique and spacious condos and duplexes within its 12 stories and overlooks the lake, the park and Lincoln Park Zoo.

It’s a very well maintained elevator building building with healthy reserves. The monthly assessments include: 24 hour doorman, full time property manager and engineer, heat, air conditioning, water, exterior maintenance, scavenge service, storage facilities and TV cable. Additional building amenitites include: an outdoor pool, a roof top deck, exercise facilities, party room with catering facilities, play room for kids and an indoor raquetball court. The building is pet friendly.

Lincoln Park Zoo

THE CONDOS

These condos are all unique with various floor plans since a number of them have been combined with other units. They are spacioius and a fair number of combined units are now duplex units. All the units have newer windows and central air conditioning. The condos have in-unit washer and dryers. Owners are allowed to rent but only for an extended 2 year lease. There has not been a lot of turn over in the building. The units located on the east side of the building have unobstructed views of the lake and the park. The most recent sale was unit 7BN a 2 bedroom which sold for $310,000 back in May 2011.

2100 N LINCOLN PARK WEST, CHICAGO, IL 60614 WALK SCORE MAP

2100 – N Lincoln Park West, Chicago, IL 60614 Walk Score Map for RSS Feeds

ALL HOMES FOR SALE AT THE PIERRE – 2100 LINCOLN PARK WEST
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Condos and co-op apartments on Lake Shore Drive are highly desired with their front row views of Lake Michigan. Here’s a list of every condo and co-op apartment on Lake Shore Drive along with their neighborhoods and form of ownership. It’s ordered from northernmost to southernmost. The condos and co-op apartments on East Lake Shore Drive are ordered from west to east.

View of East Lake Shore Drive Condos & Co-op Apartments from 1212 N Lake Shore Drive

There are 40 condos and 17 co-op apartments on Lake Shore Drive. The Gold Coast has more than any other Chicago neighborhood.

In the table below there are links for those Lake Shore Drive condos and co-op apartments that Mary Kaye Buettgen and I have written about including what’s currently for sale in those buildings.

The inventory of listed condos for sale in River North continues to drop.^* There were 245 River North condos for sale in April down 54.3% from April 2011 and down 72.5% from its recent peak in April 2009.

Monthly Inventory of River North Condos (gray) and Houses (red) for Sale January 2006 - April 2012

The median sale price was 16.4% higher in April than a year earlier. The number of closed sales was also up 14.1%.

The continuing decline in River North condo inventory varies by building. Back in March I wrote about how the number of condos for sale at 21 E Huron (The Pinnacle) in was down 80% from a year earlier. In the neighboring 25 E Superior (The Fordham) and 55 E Erie condos for sale haven’t declined nearly as much.

RIVER NORTH CONDOS FOR SALE

Click below to see the River North condos for sale in your desired price range. You can narrow the results by internal and external features. Pending sales are excluded.

To see River North condo reviews and what’s for sale in those buildings see DOWNTOWN HOMES FOR SALE above in the right column.

^* includes townhouses

Penthouses in Lincoln Park have terrific city views and or quaint neighborhood views. Here are Lincoln Park penthouses currently for sale. None of these are my listings. I update this list, so check back for new listings.

Lincoln Park Penthouse - City Skyline Views

Lincoln Park Penthouse Neighborhood View

ADDRESS	PRICE	BEDS	BATHS	SQFT	MORE INFORMATION
1919 N Sheffield #3	$1,849,000	4	3 1/2		Photos & Info
1117 W Armitage #3	$1,089,000	3	3 1/2	3000	Photos & Info
2446 N Racine #3E	$974,000	3	2 1/2	3000	Photos & Info
1307 W Wrightwood #306	$949,000	3	3	2240	Photos & Info
2224 N Orchard #3S	$934,000	3	2 1/2	2400	Photos & Info
1738 N Mohawk # 3	$899,000	3	2 1/2	2400	Photos & Info
1632 N Hudson #10	$889,000	3	3	2800	Photos & Info
1452 W Fullerton #4	$799,900	3	3	2878	Photos & Info
333 W Belden #3	$779,000	4	2 1/2	3000	Photos & Info
445 W Roslyn #3W	$699,000	3	2 1/2	1850	Photos & Info
2038 N Halsted #3	$699,000	3	2	1900	Photos & Info
2757 N Lincoln #401	$699,000	2	2 1/2		Photos & Info
1872 N Clybourn #606	$695,000	2	2	2300	Photos & Info
2038 N Sheffield #3	$649,000	2	2	1400	Photos & Info
2536 N Southport #1	$599,900	3	2 1/2	2400	Photos & Info
2635 N Mildred	$575,000	2	2		Photos & Info
825 W Wrightwood Unit #3	$524,000	2	2		Photos & Info
2741 N Bosworth #3	$499,900	2	2		Photos & Info
1862 N Halsted #3N	$447,000	2	2	1625	Photos & Info
744 W Fullerton # 504	$420,000	2	2	1500	Photos & Info

209 E Lake Shore Drive, Chicago, IL 60611

Vintage co-op apartments are for sale at 209 E Lake Shore Drive. Here’s a review of the building and apartments I’ve previewed or shown (none are my listings) along with photos and details on the other apartments for sale.

THE LOCATION

209 E Lake Shore Drive is located in Chicago between North Lake Shore Drive and Michigan Avenue just south of Oak Street Beach. Shopping on Oak Street and the Magnificent Mile on Michigan Avenue are just 1 block to the west. Chicago’s Lakefront is just across North Lake Shore Drive. Its Walk Score is currently 92 and its Transit Score is 74. It’s half a mile from the Red Line at Chicago & State. See its interactive Walk Score Map below.

East Lake Shore Drive is considered to be part of both the Gold Coast and Streeterville neighborhoods in Chicago’s Near North Side.

THE BUILDING

209 E Lake Shore Drive built in 1925 has 18 floors with 35 units. The building is staffed 24 hours with a door person. Unlike many vintage buildings, it has its own parking. It has a yard and patio behind the building. Apartments start on the second level of the building. Pets are allowed. Utilities included in the monthly assessments include: cable TV, heat and water. Since this is a co-op, property taxes are also included in the monthly assessments.

THE CO-OP APARTMENTS

The building has 3 and 4 bedroom units. Cooking appliances in units I’ve seen are gas. The most recent sale was 2W, a 4 bedroom which sold in May 2011 for $3,000,000.

209 E LAKE SHORE DRIVE, CHICAGO, IL 60611 WALK SCORE MAP

209 E Shore Drive Walk Score Map for RSS Feeds

ALL CO-OP APARTMENTS FOR SALE AT 209 E LAKE SHORE DRIVE, CHICAGO, IL 60611
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Chicago’s Case-Shiller Index for February fell 2.5% from January. The drop in January was 1.9%. The index is down 7.0% from February 2011. It’s back to its June 2000 level.

The Case-Shiller Index for Chicago is based on resales of houses in the Chicago Metro Area. It’s published with a 2 month lag.

Chicago Case-Shiller Indices February 2011 - February 2012

The Chicago Case-Shiller Condominium Index for February fell 2.4% from January. The drop in January was 2.6%. The condo index is down 9.1% from February 2011. It’s back to its October 1999 level. This is the first time it’s fell below year 2000 levels.

A few condos at 3300 N Lake Shore Drive in Chicago’s Lakeview neighborhood are for sale. Here’s a review of the 1920′s vintage building and condos I’ve previewed or shown (none are my listings) along with photos and details of the other condos for sale.

3300 N Lake Shore Drive, Chicago, IL 60657

THE LOCATION

3300 N Lake Shore Drive is located south of Addison at Aldine in East Lakeview and overlooks Belmont Harbor. The building currently has a Walk Score of 92 and a Transit Score of 78. The Red Line Stop at Belmont is less than 0.7 of a mile away just east of Belmont & Sheffield. See its interactive Walk Score Map below.

THE BUILDING

3300 N Lake Shore Drive is an Italian Renaissance style vintage building. It was built in 1926 and originated as luxury co-op apartments. Due to the stock market crash the co-op went bankrupt in 1934. It then beacame rental property until 1973 when it turned condominium with the citywide move toward condo conversions. The 3300 building houses 82 condos within its 17 stories.

There are 2 entrances to the building and the lobbies have been beautifully refurbished. These entrances display lavish Beaux Arts architectural detail such as: coffered ceilings, marble floors, rich walnut paneling and a grand fireplace.

This is an elevator building with only 2 units per floor that share a private foyer. The amentities include a coin laundry room, bike room and private storage. The outdoor space is a common rooftop terrace where you overlook the lake, Belmont Harbor and the skyline.

Being a smaller high rise it doesn’t have a door person, but has a video security system. There isn’t any parking in the building but there are nearby lease options starting at $200 per month. I also spoke to one gentleman who owns a deeded parking space that is located at 545 W Aldine. When showing buyers various units agents reported the building being fiscally sound.

It is a pet friendly building and conveniently located near the Belmont Harbor dog beach. Bike and walking enthusiasts can enjoy part of the 18.5 mile lakefront trail across the street from the building.

Lakeview Bike Trail

If you are a vintage lover and would like to learn more about Chicago vintage buildings and the history of Lakeview, visit the Chicago Historical Society.

THE CONDOS

Cooking appliances are gas. In-unit laundry is allowed but not all the condos have installed washer and dryers. The units have thick plaster walls, gallery hallways, high ceilings and hardwood floors. Some of the units have been combined. The most recent sale at 3300 N Lake Shore Drive was unit 2B, a 2 bedroom 1 bath which sold in January for $250,000.

3300 N LAKE SHORE DRIVE, CHICAGO, IL 60657 WALK SCORE MAP

3300 N Shore Drive Walk Score Map for RSS Feeds

ALL CONDOS FOR SALE AT 3300 N LAKE SHORE DRIVE
CHECK BACK FOR NEW LISTINGS

Address	Price	Beds	Baths	SqFt	More Information	Notes on condos I've previewd/shown
3300 Lake Shore Drive 9BC	$795,000	4	4	3200	Photos & Info	9BC is 2 units combined that has transcended into a modern vintage look. It has 2 kitchens. It has east and west exposures with a wall of windows facing the lake and harbor.
3300 Lake Shore Drive 15A	$575,000	3	2 1/2	2300	Photos & Info	15A has south and east exposures that deliver beautiful views of the lake and shoreline. Very nice dark stained hardwood flooring.
3300 Lake Shore Drive 7E	$449,000	3	2 1/2	2100	Photos & Info	7E is an end unit with a long gallery used for books and art. The unit is updated but retained the traditional moldings.
3300 Lake Shore Drive 11D	$245,000	2	1	1204	Photos & Info	11D has dark hardwood stained floors and all the original moldings.
3300 Lake Shore Drive1C	$209,000	2	1 1/2	925	Photos & Info

The inventory of condos for sale priced $1,000,000 and higher in the 60610 zip code was down 44.7% in the 1st quarter of 2011 compared to a year earlier.^* 60610 includes the Gold Coast north of Division, Old Town south of North Avenue and River North west of State.

Quarterly Gold Coast (North), Old Town (South) & River North (West) $1M+ Condos For Sale Q1 2009 - Q1 2012

There were 94 such Old Town, River North and Gold Coast condos for sale in 1st quarter 2012. That’s less than 40% of the number that were for sale in 60610 in the 1st quarter of 2009.

In the neighboring 60611 zip code which includes Streeterville, the Gold Coast south of Division and River North east of State the drop in condos for sale in the 1st quarter was down only 13.6% from a year ago and 28.0% from 3 years ago. There were 285 condos for sale in 60611 in the 1st quarter priced at $1,000,000 and higher.

There were double the number of condos for sale priced at $1,000,000 and higher in the 60610 zip code that sold in the 1st quarter. The number of such condos with pending sales also doubled.

SEARCH 60610 $1M+ CONDOS FOR SALE ONLY

To see all condos currently listed for sale priced $1M and higher in 60610 click here. Pending sales are excluded. You can further filter the results for features.

To see River North & Gold Coast condo & co-op reviews and what’s for sale in those buildings see DOWNTOWN HOMES FOR SALE above in the right column.

^* includes co-ops and townhouses