1352 N. LaSalle Blvd., Chicago, IL 6061

Yesterday I toured the mansion for sale at 1352 N. LaSalle Blvd. in Chicago’s Old Town neighborhood. The home was built in 1886 for the inventor of margarine, John F. Jelke.

There are 5 levels including a basement in this 9,200 SF home. It has 5 bedrooms, 4 full bathrooms and 2 half bathrooms. The home has much of the original woodwork and pocket doors. When I toured 1352 N. LaSalle Blvd. I noticed 5 features that make it stand out from other Chicago mansions for sale.

1. 7 working fireplaces including 2 in the master suite
2. An elevator which you don’t often see in vintage homes here
3. A 5 car garage
4. A remodeled 2 bedroom 1 bath apartment in the basement
5. A remodeled 2 bedroom 2 bath coach house apartment

The outdoor space includes decks on the main and top levels. There’s also a large garden and walkway on the north side.

1352 N. LaSalle Blvd. was a halfway house in the 1940s for alcohol and drug abusers. In 1979 it was purchased and rennovated. According to Curbed Chicago, in 1987 Antoinette Giancana, the daughter of a Chicago mob boss, posed for a Playboy pictorial in the home’s marble tub.

The mansion is located 3 blocks from the Red Line Stop at Clark and Division. It’s 4 blocks from Lincoln Park.

1352 N. LASALLE BLVD., CHICAGO, IL 60610 WALK SCORE MAP

1352 N. LaSalle Blvd., Chicago, IL 60610 Walk Score Map for RSS & Mobile

For more details and photos see 1352 N. LaSalle Blvd..

CHICAGO MANSIONS FOR SALE

The inventory of listed Gold Coast condos for sale is less than half what it was a year ago.^* There were 210 condos for sale in Gold Coast in May down 51% from May 2012 when there were 431 condos for sale.

Three months ago, I wrote about how the inventory of Gold Coast condos for sale was down 48% in February. The inventory is down 73% from May 2010 when there were 787 condos for sale in the Gold Coast. As shown below, the condo inventory keeps setting 5 year lows.

Monthly Inventory of Gold Coast Condos For Sale (gray) & Houses For Sale (red) January 2008 - May 2013

The median sale price fell 18% to $410,000. The drop in median price was partially due to significantly lower sales for larger units.

The average sale price as a percent of original sale price was 94.4% up from 92.6%. The number of closed sales was up 13%.

WHAT THIS MEANS FOR GOLD COAST CONDO BUYERS

The buyers market is over. You need to be ready to buy when you find a condo you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring condos. Email me for recommended mortgage consultants. If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. To schedule showings for any Gold Coast listings or a free, no obligation consultation email me.

WHAT THIS MEANS FOR GOLD COAST CONDO SELLERS

The average days on market for condo pending sales in the Gold Coast was down 36% in May. It took an average of 139 days to sell compared to 217 days a year ago. If your condo is priced right when it goes on market, it will sell in a reasonable amount of time. If you’re considering selling your Gold Coast condo, email me for a free market analysis.

GOLD COAST CONDOS FOR SALE

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

$3M & Above	$2M to $3M	$1.5M to $2M	$1M to $1.5M
$900K to $1M	$800K to $900K	$700K to $800K	$600K to $700K
$500K to $600K	$400K to $500K	$300K to $400K	$200K to $300K

^*includes co-ops, apartments and townhouses

1555 N. Astor, Chicago, IL 60611

Condos are for sale at 1555 N. Astor in Chicago’s Gold Coast. Here’s a review of the building along with photos and details. None of the units for sale are my listings.

THE LOCATION

1555 N. Astor is located at the corner of Astor and North Avenue at the north border of the Gold Coast. Lincoln Park is immediately to the north. Chicago’s Lakefront is a block away. Its Walk Score is currently 92. Its Transit Score is 79. Its Bike Score is 78. It’s just over half of a mile from the Red Line at Division & Clark. See its interactive Walk Score Map below.

THE BUILDING

1555 N. Astor built in 1975 has 48 floors with 110 condos. The building is staffed 24 hours with a door person. It has an exercise room, bike room, storage, sundeck and indoor pool. It’s one of the few buildings in the city with its own tennis court. It’s also a good building for people with large dogs as 2 pets are allowed up to 80 pounds each. Utilities included in the monthly assessments include: cable TV and water. Parking in the building is leased.

THE CONDOS

The building has 2, 3, & 4 bedroom units. Those on the north side overlook Lincoln Park. Those on the south side have great city views. Cooking appliances are electric. Washers and dryers are allowed. The most recent sale was unit 6NE, a 2 bedroom which sold in December for $870,000.

1555 N. ASTOR, CHICAGO, IL 60611 WALK SCORE MAP

1555 N. Astor, Chicago, IL 60611 Walk Score Map for RSS & Mobile

CONDOS SIMILAR TO 1555 N. ASTOR, CHICAGO, IL 60611

ALL CONDOS FOR SALE AT 1555 N. ASTOR, CHICAGO, IL 60611
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The inventory of listed River North condos for sale continues to plummet.^* There were 160 condos for sale in River North in May down 46% from May 2012 when there were 297 condos for sale.

Three months ago, I wrote about how the inventory of River North condos for sale was down 49% in February. The inventory is down 81% from May 2009 when there were 864 condos for sale in River North. As shown below the condo inventory keeps setting 5 year lows.

Monthly Inventory of River North condos for sale (gray) January 2008 — May 2013

The median sale price rose 24% to $410,625. The average sale price as a percent of original sale price was 99.2% up from 95.8%. The number of closed sales was up 14%. Pending sales were up 10%.

WHAT THIS MEANS FOR RIVER NORTH CONDO BUYERS

The buyers market is over. You need to be ready to buy when you find a condo you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring condos. Email me for recommended mortgage consultants. If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. To schedule showings for any River North listings or a free, no obligation consultation email me.

WHAT THIS MEANS FOR RIVER NORTH CONDO SELLERS

The average days on market for condo pending sales in River North was down 47% in May. It took an average of 73 days to sell compared to 139 days a year ago. If your condo is priced right when it goes on market, it will sell in a reasonable amount of time. If you’re considering selling your River North condo, email me for a free market analysis.

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.

$3M & Above	$2M to $3M	$1.5M to $2M	$1M to $1.5M
$900K to $1M	$800K to $900K	$700K to $800K	$600K to $700K
$500K to $600K	$400K to $500K	$300K to $400K	$200K to $300K

^*includes co-ops, apartments and townhouses

Water Tower Place Residences - 180 E Pearson, Chicago, IL 60611

Some home owners at Water Tower Place are taking advantage of the lack of inventory for downtown Chicago luxury condos for sale. Four units at Water Tower Place came on market during the past 10 days. All of the homes for sale are truly new listings. None has been on market since at least 2010.

In May I reported that the inventory of downtown Chicago luxury condos for sale was down 44% from 2010.

Built in 1975 Water Tower Place has 260 condos that sit atop the Ritz-Carlton Chicago Hotel. Owners have access to the Ritz-Carlton’s concierge, room service and 4 lane indoor pool. They can also join The Carlton Club without the upfront fee giving them access to the Ritz-Carlton’s spa.

Water Tower Place is located at 180 E Pearson, just east of the Water Tower Place Shopping Mall on the Magnificent Mile on North Michigan Avenue. Chicago’s Lakefront is 2 blocks east.

All of the new Water Tower Place condos for sale have 3 bedrooms. They range from 2,754 to 2,975 SF. Three of the four new condos for sale have four full bathrooms.

NEW ON MARKET AT WATER TOWER PLACE

• 6202 listed for $1,750,000
• 5201 listed for $1,250,000
• 6502 listed for $1,190,000
• 6901 listed for $1,175,000

For details and photos of these and the other Water Tower Place condos for sale see my Water Tower Place page.

The inventory of listed Chicago apartments for sale continues to drop.^* There were 11,023 apartments for sale in Chicago in the first quarter down 27.4% from first quarter 2012 when there were 15,176 apartments for sale.

In March I wrote about how the inventory of Chicago apartments for sale was down over 31% in the 4th quarter of 2012. The inventory of Chicago apartments for sale is down over 54% from first quarter 2010.

Chicago Apartments For Sale 1st Qtr. 2010 - 1st Qtr. 2013

The median sale price rose 8% to $210,000. The number of closed sales was up 21%. Pending sales were up 29%.

WHAT THIS MEANS FOR CHICAGO APARTMENT BUYERS

The buyers market is over. You need to be ready to buy when you find an apartment you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring apartments. Email me for recommended mortgage consultants! If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. If you aren’t familiar with the differences between apartments owned as condos and co-op apartments see my article, Chicago co-op apartments vs. condos. Email me to get started!

WHAT THIS MEANS FOR CHICAGO APARTMENT SELLERS

The average days on market for apartments in the 1st quarter was down a whopping 40%! It took an average of 105 days to sell compared to 176 days a year ago. The overwhelming majority of those sales were for apartments owned as condos. Co-op apartments took almost 3 times as long to sell on average as condos! Apartments still have to be priced competitively. If your apartment is priced right when it goes on market, it will sell in a reasonable amount of time. If you’re considering selling your apartment, email me for a free market analysis.

CHICAGO APARTMENTS FOR SALE

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

$3M & Above	$2M to $3M	$1.5M to $2M	$1M to $1.5M
$900K to $1M	$800K to $900K	$700K to $800K	$600K to $700K
$500K to $600K	$400K to $500K	$300K to $400K	$200K to $300K

^* includes condos, co-ops & other forms of ownership

1212 N. Lake Shore Drive in Chicago's Gold Coast

Prices for 3 bedroom condos for sale in Chicago’s Gold Coast may start at only $500,000, but over half of them are priced above $1,000,000. In 2012 the median sale price was $912,500. In 2011 and 2010 it was $1,200,000 and $1,444,950.^*

The number of choices of Gold Coast 3 bedroom condos has plummeted over the past few years. At the end of 2012 there were only 70 such condos for sale compared with 189 at the end of 2008. That’s a drop of 63%! If you’re considering selling your Gold Coast 3 bedroom condo, email me for a free market analysis.

Sizes of Gold Coast 3 bedroom condos range from 1,700 SF to a median size of around 2,400 SF to 4,000 SF or more. Styles range from vintage to mid-century to contemporary.

There are actually more 3 bedroom condos for sale in the Gold Coast with 3 or more bathrooms than there are with 2 or 2 1/2 bathrooms. In the $1,200,000 and above price range expect a minimum of 3 full bathrooms.

Besides having more space than 1 and 2 bedroom condos Gold Coast’s 3 bedroom condos typically have the preferred views for a building.

3 BEDROOM CONDOS FOR SALE IN THE GOLD COAST

Click below to see Gold Coast 3 bedroom condos for sale by price range. You can narrow the results by internal and external features. Pending sales are excluded.

$2M & Above

$1M to $2M

$700K to $1M

$700K & Below

^* based on Midwest Real Estate Data (MRED); includes co-ops, apartments, lofts & townhouses

The inventory of listed downtown Chicago luxury condos for sale continues to fall.^* There were 425 condos for sale priced at $1,000,000 or higher in downtown Chicago in the first quarter down 18.7% from first quarter 2012 when there were 523 luxury condos for sale.

Last year I wrote about how the inventory of downtown Chicago luxury condos for sale dropped almost 20% in the first quarter of 2012. The inventory of downtown Chicago luxury condos for sale is down over 44% from first quarter 2010.

Quarterly Downtown Chicago Luxury Condo Statistics Q1 2010 - Q1 2013

Downtown Chicago buildings that still have several luxury condos for sale include Trump Tower, Olympia Centre and 600 N Lake Shore Drive.

The number of closed sales for downtown Chicago luxury condos was up 28.3%. Pending sales were up 23%.

WHAT THIS MEANS FOR DOWNTOWN CHICAGO LUXURY CONDO BUYERS

The buyers market is over. You need to be ready to buy when you find a condo you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring homes. Email me for recommended mortgage consultants! If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. Email me to schedule showings regardless or broker or for assistance identifying condos that might meet your needs!

WHAT THIS MEANS FOR DOWNTOWN CHICAGO LUXURY CONDO SELLERS

I wouldn’t call it a sellers market yet, but we’re headed in the right direction. Luxury homes do take significantly longer to sell on average than lower priced homes since there is a smaller market for them. The average days on market in the 1st quarter was up a whopping 35.0%! It took an average of 277 days for downtown Chicago luxury condos to sell in the first quarter compared with 98 days for downtown Chicago condos priced under $1,000,000. Luxury condos have to be priced competitively. Email me for a free market analysis.

DOWNTOWN CHICAGO LUXURY CONDOS FOR SALE

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

$5M & Above	$3M to $5M	$2M to $3M	$1.8M to $2M
$1.6M to $1.8M	$1.4M to $1.6M	$1.2M to $1.4M	$1M to $1.2M

^* includes co-ops & townhomes

Chicago’s Case-Shiller Index for March is up 7.8% from March 2012. This is the fifth consecutive month it’s been up compared to a year earlier.

It’s back to its April 2001 level. It remained relatively unchanged from February rising only 0.01%. 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 (Blue - Houses, Red - Condos) February 2000 - March 2013

The Chicago Case-Shiller Condominium Index for March is up 7.0% from March 2012. This is the fifth consecutive month it’s been up compared to a year earlier.

The condo index is back to its April 2000 levels. The condo index rose 0.7% from February.

WHAT THIS MEANS FOR BUYERS

The buyers market is over. You need to be ready to buy when you find a home you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring homes. Email me for recommended mortgage consultants! If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. Own a part of Chicago! Email me to get started!

WHAT THIS MEANS FOR SELLERS

There’s been a lot of press lately about flash (quick) sales in some Chicago neighborhoods. Homes still have to be priced competitively. If your home is priced right when it goes on market, it will sell in a reasonable amount of time. If you’re considering selling your home, email me for a free market analysis.

ABOUT THE CHICAGO CASE-SHILLER INDICES

The Chicago Case-Shiller Indices are for the entire Chicago Metro Area. Markets do vary by location, price range and housing types. For more market statistics see my other Chicago Real Estate Market articles.

Here are the condos I’ve written about that are near Chicago’s Union Station along with all condos for sale within one half mile of Union Station. The Metra and Amtrak train station is located at 225 S Canal. It’s just west of the Chicago River in the in the eastern part of the West Loop.

Union Station is one of three commuter train stations in Chicago. The others are Ogilvie Transportation Center located a few blocks to the north and Millennium Station to the east at Michigan and Randolph.

It’s also a train station for 18 Amtrak lines connecting Chicago to other cities across the country and Canada. The Great Hall at Union Station is available for special events including weddings.

Chicago's Union Station

Condos within a half mile of Union Station are located in either the West Loop or Loop neighborhoods. If you live near a suburban Metra train station for the Milwaukee District North, Milwaukee District West, North Central Service, BNSF Railway, Heritage Corridor, Southwest Service or Rock Island District Lines or a suburban Amtrak station and are looking for an in-town home or you work near one of those suburban stations and want to live in downtown Chicago, a condo near Union Station may be a good choice for you.

CONDOS FOR SALE NEAR UNION STATION

CONDO BUILDINGS NEAR UNION STATION

• Randolph Place
• The Skybridge