What a terrace is really worth: 200 W. Grand in River North

Perhaps you’ve seen this amusing Craigslist post about a one bedroom unit at 200 W. Grand in River North.

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The headline reads:

$439000 1800sf with 900sf private terrace! Must Sell!

Basically, the unit is only 900 square feet but the terrace is also 900 square feet- so that’s how you get 1800 square feet.

Brilliant.

But it gets better.

This is the only condo with a private terrace (900sf) in the building. The view is north and unobstructed. Neighbors on both sides had their terrace down by “While you were out” and HGTV’s “Landscapers Design”.

Sorry- buy YOUR terrace will be a boring slab of concrete, but your neighbors’ will be lovely!

Here are some pictures of your concrete terrace from the ad:

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This unit isn’t listed on the MLS. It also doesn’t have a unit number. Asking price is $439,000 plus $30k for parking.

$439,000 for 900 square feet in that building is quite pricey.

Currently, a one bedroom without the terrace is over $100k cheaper.

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Unit #1605: 1 bedroom, 1 bath

  • Currently listed for $305,000 plus $35k extra¬†for parking
  • Assessments of $511 a month
  • Options R Us Realty and Management has the listing

One Response to “What a terrace is really worth: 200 W. Grand in River North”

  1. I was told by a RE agent that balconies and terrace sq ft are added to the taxable footage. Is this true?

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