Buy a Home in the Sky With Lake Views: 1030 N. State in the Gold Coast
This 3 bedroom unit at 1030 N. State in the Gold Coast could be your home in the sky.
At 2500 square feet, it has 2 balconies and lake and city views.
The unit also has upgrades you don’t often see such as solid cherry doors and marble and hardwood floors with inlay.
The kitchen has cherry cabinets and granite counter tops.
The building was built in the early 1970s and has about 624 units.
There is no deeded parking – it is leased in the building.
But right outside the door is a host of shops and restaurants at your fingertips.
Originally listed last June, this unit has been reduced $125,400.
Can this unit compete with all the newer construction in the area?
Nick Steffes at Re/Max Vision has the listing. See more pictures here.
Unit #30EFG: 3 bedrooms, 3 baths, 2500 square feet
- Sold in 1991 but I couldn’t find a price (combined unit)
- Originally listed in June 2010 for $1,124,900
- Reduced
- Currently listed for $999,500
- Assessments of $1618 a month (includes heat, a/c, doorman, cable, pool)
- Taxes of $11817
- Central Air
- Washer/Dryer in the unit
- Parking is leased in the building for $290 a month (per spot)
- Bedroom #1: 27×13
- Bedroom #2: 14×12
- Bedroom #3: 13×9
Was this on some home design show? Seems familiar somehow.
best unit # I’ve seen in a while….#30EFGHIJKLMNOP
“Was this on some home design show?”
What Not To Design?
Nicely done once upon a time but now needs a whole re-do, sad to rip up that kitchen but would have to. Got great room size, for the right price, could build a nice home and be a fun project.
LOL at the extra $290/mo for parking.
Very nice job of a 3 unit combo
What’s another 290 a month when you are paying almost 1600 before taxes and mortgage? Chump change.
Dig the price changes.
It’s very nice in a condo-tel sort of way.
I think it looks so dated, I agree with Ze that it needs to get rehabbed. I for one would never buy this place if we were leaving in Chicago and this was our primary residence. I would have liked to own my parking and not pay so much in assessments.
Very dated…appropriate for little old ladies and 50 something bachelors…but then again…its the GC.
there’s nothing dated about it, that’s cherry wood and it always looks good when done tastefully. Maybe the granite could be replaced with silestone or something, but it looks to be a recent rehab.
http://www.snaidero-usa.com/italian-modern-kitchens/certosa-modern-italian-kitchen__kc-14.html
Yeah I am also puzzled as to why the kitchen needs to be replaced. Looks fine to me and goes with the rest of the motif
Oh…Dan…you would like it…you 50 something bachelor….or are you a little old lady.
Seriously, I, too, like the kitchen, but would get rid of the carpet and do soemthing about the walls. They are either painted with a very boring white shade/finish or have is some pretty bad wallpaper.
I could see maybe taking out the column across from the fridge (if not structural) and maybe the upper cabinets above the range but that’s it. Kitchen seems fine. If you really want to make some changes, look at the knobs or refinishing them.
Wait, is that a mirror backsplash or is it open?
its open to the dining room which = awesome
actually the sink area is open tot he dining room, not sure what room the stove is open to, but there’s a window
“Was this on some home design show? Seems familiar somehow.”
i think i know which one your speaking of, but i swore they had a kid about 8 years old and the whole place was designed around the parents and their socail gatherings and the kid only got 1 12×10 room to sleep and play in.
Those cads! They must have fed the kid eggos as well, but without any fruit.
nice, but $1mm gets you something a lot better, even in the GC.
“its open to the dining room which = awesome”
First thing I thought when I saw this is how fast i’d be taking down that wall where the dining room is… wouldn’t make it through night one.
I like the length of the place and with 2,400 sq ft it’s very livable. I hate that living room center with bedroom on each side 2/2 layout.. this could be nice.. ceilings touch low though..
The *asking price* is right for me. I don’t get the hate for the design. 8 out of ten condos in the GC look like this, only this is done better.
Unfortunately, the assessments, taxes, and parking make this a non-starter. The carrying costs on this w/ two parking spaces is right at $50,000 a year. Think about that. That’s essentially what the mortgage payment on this is. The oppy cost for ten years at current taxes, assessments, and parking at a modest 5% is around $630k. I don’t even want to think about what this would end up costing you after increases. That’s an obscene amount of cake to throw away for a party in this joint.
We are truly entering a period where “owners” will have to give these places away or pay someone to take them off their hands just to get out from under the carrying costs.
“Yeah I am also puzzled as to why the kitchen needs to be replaced. Looks fine to me and goes with the rest of the motif”
Personal thing with me, definitely not for everyone.. everyplace i live has to look like it would fit in the Guggenheim.
Disregard everything I just said. I counted the taxes twice per month in the above calcs.
Lame-o-jablamo.
This isn’t my style but I don’t think it’s dated. Rip out the carpet and put in cherry hardwood floors and I think it would look a lot nicer. Kitchen looks fine to me as well.
I am sorry but it looks very dated to me so I stand by kitchen much go and a million dollar price tag and carpets?!
Also it looks like a hotel or an admiral club to me. I just don’t like this midwest old look.
“…they had a kid about 8 years old and the whole place was designed around the parents and their social gatherings and the kid only got 1 12×10 room to sleep and play in.”
And that’s exactly the way it *should* be.
More cherry? This place is already cherry-overload. The kitchen is nice, some of the other cherry looks good too, but the trim is cherry also? I agree the carpet could come out, and the walls painted too, maybe some white doors? They should go with oak floors… all this place needs is a little contrast, and that kitchen is not dated, it has the most recent european bar pulls.
“Rip out the carpet and put in cherry hardwood floors and I think it would look a lot nicer.”
@Chicagobull – bingo. Almost $3k/ month just taxes, assessment and parking. That number alone is within 1k of the appropriate rent. It will go up every year just like rent goes up. Not sure what the other 999k gets you.
That’s an awesome post Dan. Dan the decorator…I finally get it, angry at everyone ’cause he hasn’t come out of the closet yet.
Personally I can only handle cherry in a walk in closet. To each their own.
I’m very important. I have many leather-bound books, and my apartment smells of rich mahogany.
no surprise there, in other words, items and decor that place no demand on beauty or artistic abilities?
“…everyplace i live has to look like it would fit in the Guggenheim”
I don’t know this building, but brutal assessments (and where they are going – hint, it ain’t down) like these kill your chances at appreciation and a big profit in resale. Couple that with no included parking and this one seems like a dog to me. Taxes are probably going way up with a sale anywhere near list as well.
Combined units are often cool but never make much financial sense.
I’ve seen some great views in this building, but I’d never drop that type of money there. I live in a comparable building in the area and I always struggle with the idea of why people combine several units into one dwelling. Two combined units seems to be okay for resale, but, from what I’ve seen, more than that typically doesn’t pay off at resale. In fact, I’ve had neighbors turn their ginormous units back into individual one bedroom apartments because it made more sense to sell them off individually.
I can live in some pretty nice buildings for a million bucks. I realize I won’t get 2,500 sf, but each building has its own perception in the marketplace and I personally don’t think this one has the million dollar home cachet. Nevertheless, I hope they prove me wrong because this building is always used as a comp for the joint that I live in.
One more thing. Given the age of the building, the staffing that’s required for a building that size and the number of units that this individual lives in, the assessments are in line.
Dave as someone who combined units. It’s really a matter of having a comfortable walk around size and being able to extend roomsizes in order to make it feel like a home. I really think the return depends very much on the building being able to support it, as you say, cache. An apartment bigger than all others in a cache bldg could easily go premium to everything else in the bldg as an extraordinary property too.
This bldg obviously missing that cache.
–“the staffing that’s required for a building that size”?
Shouldn’t economies of scale work here? And competitive-bid outsourcing?
Buildings like these redefine the meaning of “own”. You are really renting from the government and the association. For this privilege, you make a large down payment plus a continuing monthly nut to your mortgage company. I don’t get it.
With all the cabs cruising the area 24/7/365, plus buses and the Clark/Division subway just a short healthy walk away, why would you HAVE to have a car, except for the occasional weekend or vacation rental?
Also, you can pretty easily walk to grocery stores, drugstores, dry cleaner, every kind of restaurant + bar, etc.
While this is a very central location, I would imagine almost everyone in this building has at least one vehicle.
Obviously you won’t die without one, but Chicago is built more for the car than for public transit. In fact Census figures show there are significantly more two-car households than no-car households in Chicago. Something like 80% of Chicago households own a car, and I would guess most of the remaining 20% are low income.
Outside of NYC, it really isn’t practical to go car-free. That’s why most carless folks are either poor or college/grad school age.
BG100 – I’ll offer you a counterpoint: When I first moved into the city (ended up in SoPoor w/o really knowing the neighborhoods) I sold my car. I was carless for over a decade. I-GO helped extend that a bit.