The $500,000 2-Bedroom River North Penthouse: 630 N. Franklin
This 2-bedroom at 630 N. Franklin in River North recently came on the market.
From the public record, it doesn’t appear to have ever sold before.
This appears to be the “penthouse” floor.
It has south and east views from 14 foot floor to ceiling windows.
It is larger than most of the other 2-bedrooms in the building at 1601 square feet but it still has the same look with concrete walls and ceilings.
The kitchen has white cabinets, granite counter tops and stainless steel appliances.
It has central air, washer/dryer in the unit and 2 parking spots are available. It says $34,900 for the spaces. I’m assuming those are each or a total of $69,800.
This building was built in 2005.
Is it sell now, or forever hold your peace, for some of these units that never sold during the boom?
Heather Gustafson at CMK Realty has the listing. See the pictures here.
Unit #1108: 2 bedrooms, 2 baths, 1601 square feet
- I couldn’t find a prior sale
- Currently listed at $499,900
- Assessments of $514 a month (includes A/C, gas)
- Taxes of $7760
- Parking is $34,900 ( appears to be for 1 space- but 2 are available)
- Bedroom #1: 11×15
- Bedroom #2: 11×11
Nice looking 2/2, better than average. Both bedrooms have windows too. High concrete floors are also great for sound control. Open floor plan looks inviting. $312 a sq foot is a bit rich – that’s north shore pricing, given that the building has external obsolescence – it’s located on ontario, an extremely busy street leading to the ontario feeder ramp. I understand all streets are busy downtown, but this is the street leading to the outbound feeder ramp and its 4 or 5 lanes wide near here. I suppose this could be more expensive if it were in a better location. I’m not generally a fan of the 2/2’s but at 1,600 sq ft and windows in both rooms, this isn’t too bad of a deal. I could do something like this if I were in a different point in my life. No way could I do this with 2 kids though.
El tracks run along the Living room windows, I believe this sold in 2008ish as well as I think its the only unit this big in the building… I want to say the previous owners moved from here to 235 WVB lol
But overall its actually a nice building with some stellar south views, low assessments, and everything you need… The location in my opinion is one of the best around overall, but its not for everyone since there is a lot of noise from the train/feeder but after a few nights its not noticeable except for the jerks with the small penises on the Harleys or crotch rockets with straight pipes.
“El tracks run along the Living room windows, I believe this sold in 2008ish as well as I think its the only unit this big in the building… I want to say the previous owners moved from here to 235 WVB lol.”
Public records don’t show it ever selling. The deed was transferred from the developer LLC to a different LLC in 2006. No mortgages have ever been recorded. It also appears that this is the only property owned by this particular LLC.
So if someone moved out of the unit, it’s because they were likely renting it.
I’m sure some folks will be pleased that the place will likely become owner occupied, I know of a few other units that are owned by “investors” that have been attempting to sell
I thought that was the el tracks visible from the window, but I didn’t want to say it unless I was absolutely sure. I can’t do the el again, I lived on the tracks in the 90’s and I’ll never do it again. I can take some degree of noise – OIP was noisy. My father came over one day and took my kids to park at disney II and noted that he heard multiple planes overhead, the highway, pulaski traffic, the metra, the blue line, kids playing, extremely loud cicadas and other ambient noise. To each’s own but I can’t the el, a busy street and the feeder ramp. My own home has some external obsolescence that some chatteratti would disapprove (no it’s not on the kennedy on-ramp!), but I too have my limits. That’s probably why the building is so reasonably priced compared to the other nonsense listed downtown at astronomical prices.
“noted that he heard multiple planes overhead, the highway, pulaski traffic, the metra, the blue line, kids playing, extremely loud cicadas and other ambient noise”
Your father lives in a sensory deprivation tank? He went to a *park* and made note of the sounds of (a) kids playing (do they play silently where he lives?), (b) cicadas (duh), and (c) ‘ambient noise’ (bc he’s so accustomed to dep tank?)–seriously? The rest, yeah, genuine issues over dere by dere.
“It has south and east views from 14 foot floor to ceiling windows.”
Ceilings are 12′, windows are maybe 10′.
Correct, anon, windows are 10′ tall and the ceilings here are probably 12′, my celilings are 10.5′ and I guarantee you they didn’t use different windows for the top floor
“Correct, anon, windows are 10? tall and the ceilings here are probably 12?, my celilings are 10.5? and I guarantee you they didn’t use different windows for the top floor”
so we finally know where sonies lives….
the benefit of this location is that it is just a few doors down from Crescendo, one of the most exclusive and fun night spots in chicago.
Cool unit in an solid location. I can deal with the noise as I grew up on an approach to O’Hare. In my adult life I had lived across the street from the Red line for two years and another el for 9 years. What I can not get over is the price psf for this unit. I suspect that they close at 475K with at least one spot thrown in for free. That would be a fair deal for the space!
places here have been selling for 300 a sqft (quickly for the most part) not on the top floor with parking included, so the price is not far off. People really enjoy the cheap assessments which is a factor helping this building. There are many factors not helping of course
It looks nicer than I thought it would.
Sonies – I know that you have the pulse on this building and although surprised I will trust your psf sales figures. Does $514 with A/C and Gas included really count as cheap? I am asking not telling. Back out $100 for utilities and it is still $414 for a large two bedroom with no parking spot. Since there is no pool or doorman in the building that add high cost structures it seems to be about average or a bit high. The taxes also seem average to high.
Assessments include Gas, Water, cable, internet, and general maintenance (elevator, trash, general cleaning, snow removal, garage powerwashing, painting, etc. common element electricity, etc.) as well as a security guard on weekends and drinking holidays like St. Pats, July 4th, etc. I’m sure i’m forgetting things as well…
Find me another 1600 sqft unit with assessments that cheap that include so much, you’ll have a hard time. Also there is a large reserve and our association is now well run. Our assessments didn’t go up last year at all, except for the cable which was like a dollar more a month.
Taxes are high because of no homeowner exemption, we have a great tax attorney’s office, and now for 4 years in a row my taxes have been lowered substantially, over 30% since I moved in
assessments are ridiculously low.
Lets just say its a lot quieter in the subdivisions in the northwest suburbs. Far away from busy streets, low airplane noises, parks are generally empty. It ain’t the city in buffalo grove
I wish there was a very quiet neighborhood within a 15 minute rush hour drive of the central business district. The closest I could find was University Village. Does anyone else have a suggestion for a suburban-like quiet neighborhood near downtown?
jenny – is travel by helicopter to get there acceptable?
Lakeshore east or ‘new city’ is really quiet but probably out of your price range
Saw this listing and a similar sized and priced (and qualify?) 2/2 penthouse listed at 6 E Monroe (link below). Any thoughts on competing value of the two? I don’t know much about either building, but they both look interesting for different reasons.
http://www.redfin.com/IL/Chicago/6-E-Monroe-St-60603/unit-1602/home/12695776
@sonies, is that the development near the Mariano’s on Randolph? It is a hidden gem there.
Btw: we just got back from dinner at Gilt Bar and thought of you and mrs sonies
“Does anyone else have a suggestion for a suburban-like quiet neighborhood near downtown?”
Parts of West Lakeview and West Lincoln Park can feel suburban-like as there are some gated communities.
“Correct, anon, windows are 10? tall and the ceilings here are probably 12?, my ceilings are 10.5? and I guarantee you they didn’t use different windows for the top floor”
The listing for this property doesn’t say the ceiling height. I got 14 feet from the listing for #1105, on the same floor. That listing says 14 feet.
http://www.redfin.com/IL/Chicago/630-N-Franklin-St-60654/unit-1105/home/12592632
“@sonies, is that the development near the Mariano’s on Randolph? It is a hidden gem there.
Btw: we just got back from dinner at Gilt Bar and thought of you and mrs sonies”
Yes its that neighborhood around the AON building and north of the river there. Every time i’ve been around there its quiet, really quiet like almost a ghost town.
I’ve never been to GIlt Bar actually, even though its so close, was at Lao18 last night though and met Tony! If you like Chinese food check it out, really really good. Excellent addition to hubbard St.
From the looks of it, I could afford a studio or a run-down one-bedroom in the Lake Shore East area.
I would love one of those Aqua townhouses. I definitely like that area. My friend lives at the Aqua and it’s wonderfully quiet on the surrounding streets (although, the lobby is busy, so even if I had the money, I would not want to live in a condo/apartment unit).
“suburban-like quiet neighborhood near downtown”
Kinzie Park. Ridiculously far from downtown to me, but you get a lot for your $1
“Find me another 1600 sqft unit with assessments that cheap that include so much, you’ll have a hard time. Also there is a large reserve and our association is now well run. Our assessments didn’t go up last year at all, except for the cable which was like a dollar more a month.”
For 1600 sqft in River North? I think the average assessment on a modern building is just approaching 4 figures for 1600 sq ft. Though I’m not familiar with this building’s amenities., it could have none and this would still seem extremely reasonable. Sonies, are the reserves in this building properly funded?
Yep, reserves are being funded according to the study, and have been for a while. I don’t have an exact number of the reserve but its a pretty large amount. Like I said the building has improved light years since I moved in a few years ago. New building management, better condo board were huge factors. I mentioned what amenities are included on the 12:00 post from the 25th
@Sonies. I did see your list, but I don’t have to tell you the quality of the amenities is hard to compare without first hand experience.