Looking for a Penthouse Pied-A-Terre in River North? A 1-Bedroom at 340 W. Superior

340 w superior

This top floor 1-bedroom at 340 W. Superior in River North just came on the market.

At 1016 square feet, it is a “true” penthouse with a 31×12 private terrace that looks west with “sunset and city views.”

The apartment was “conceived by renowned designer William Eubanks” and has 10 foot ceilings with crown molding.

The kitchen has light cabinets (white?) with granite counter tops and stainless steel appliances.

The bathrooms are marble.

It has central air, washer/dryer in the unit and garage parking is available for $35,000.

The listing calls it the most beautiful pied-a-terre in Chicago.

Are half a million dollar pied-a-terres popular in River North?

Nancy Thomas at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #PH5: 1 bedroom, 1.5 baths, 1016 square feet

  • Sold in October 2002 for $357,500
  • Currently listed for $475,000 plus $35,000 for the parking
  • Assessments of $865 a month (includes heat, a/c, gas, doorman, cable)
  • Taxes of $8151
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom: 13×11

26 Responses to “Looking for a Penthouse Pied-A-Terre in River North? A 1-Bedroom at 340 W. Superior”

  1. My great grandmother would love this place.

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  2. ugh its got that awful NW view… but hey if this sells… bodes well for my place around the corner thats a 2/2 at least mine isn’t decorated like my non existant jewish grandmother lived in it

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  3. Off topic but what happens when the condo association takes over and rents out a foreclosure condo only to have an excess coming in. Does it become a credit balance for the new owner or does it just go to the overall association revenue?

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  4. Perfect bachelor pad for a trader making $300k+ a year who wants to live in River North and can pay upwards of $475 psf for a one bedroom condo!

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  5. It’s a credit balance but good luck trying to get a refund…

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  6. Thanks, HD. So far I don’t know the amount of the credit, only that there is one. But some of it may be going to attorney’s fees. Either way, it beats not owing 6 months of HOA fees. And they paid the most recent property taxes.

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  7. “Perfect bachelor pad for a trader making $300k+ a year”

    Why on earth would a trader–an obvious risk-tolerant person–by a condo that is less than 2x income? Seems like the kind of place for a trader making *maybe* $150k a year. But then, that sort of guy is probably just gonna rent in Trump or something.

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  8. “some of it may be going to attorney’s fees”

    If there are any fees/costs related to the unit, that will *definitely* drain the credit balance first.

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  9. US new home sales surge 18% to their highest level since May 2008. Let the bubble keep inflating!

    http://www.reuters.com/article/2014/09/24/us-usa-economy-housing-idUSKCN0HJ1F720140924

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  10. So we haven’t learned yet that 1br are to rent not buy?

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  11. What you did today did not help the lag. But, I think the lag is an issue with the server caching pages and not updating the cache for ~1 hr. I’ve noticed that on posts with multiple comments over the course of an hour, I’ll see them appear all at the same time. A caching issue would explain this better than some random WP plug-in (though I understand WP has a caching tool, so it could be that- but my bet would be a server issue). It also helps explain other various symptoms, e.g. why sometimes you’ll see comments appear on one post before other comments appear on a second post, even when the first set of comments were posted after the second set- the cached version of the first post got updated later. And why this seemed to start randomly even when nothing on the site changed- chances are the server configuration changed without the host company notifying you. And why the comments appear on the homepage but not the posts- for whatever reason the homepage cache is updated whenever anything changes- probably because you write a home.html file which gets a timestamp and is then refreshed by the caching system, whereas the comment section of individual posts are likely dynamically generated so there’s no new timestamp on the file when a new comment is posted.

    This is a bit old, but see the comments on https://wordpress.org/support/topic/why-arent-changes-to-php-files-reflected-immediately-on-my-site (particularly the long one in the middle of the page).

    I have no idea how to fix the problem of course, but I figured a more precise definition of the issue would help find a solution. I’m sure a more thorough google search or tech support from your host company can provide more detail.

    Now back to lurking…

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  12. Ugh. No way I’d pay that much for a 1 bedroom.

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  13. “homedelete on September 24th, 2014 at 9:56 am
    Perfect bachelor pad for a trader making $300k+ a year who wants to live in River North and can pay upwards of $475 psf for a one bedroom condo!”

    a trader making $300k aint buying this as his primary residence….

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  14. Whateva, this place has trader written all over it.
    I’m just kidding, it’s old people, obviously very old people with expensive but uggo tastes. Traders aren’t living here.

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  15. “But, I think the lag is an issue with the server caching pages and not updating the cache for ~1 hr. I’ve noticed that on posts with multiple comments over the course of an hour, I’ll see them appear all at the same time.”

    Thank you w! Finally someone who knows something. :)

    I’ll talk to my hosting service about the caching. This makes sense. I’ve had them check for the issue before but they were clueless. If I actually give them something to check on though- they might be able to do something.

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  16. Let me know on the lag today- as I’ve done some stuff with the caching this morning.

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  17. The caching thing could also account for the disappearing login info, no? If I don’t have to retype the login, then the check and math is less annoying.

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  18. I can see anon’s 10:27 post @ 10:32 so thats good

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  19. I’ve been in this building many times, and I can assure you that there are few if any “old” people living there. Most of them seem to be 30 or 40-something singles/couples with kids/dogs. I imagine some of them are traders, maybe also lawyers or business people?

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  20. Glad to be of service

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  21. We have a similar situation in our 6-unit walk-up building. But the unit is not under foreclosure, but has had a missing owner for the last 25 years. Before the time of any of the current owners, a judge ordered that the unit be rented out, and the condo association has been “managing” this unit since. We use the rent money to pay the HOA, and any repairs and improvements that have to be done to the unit to keep it rentable. But we have a balance of over $20,000 on the account of the missing owner that we set up. The current other owners do not want to continue this responsibility, for which we may have unknown liabilities. But every attempt at locating the owner or his heir(s) has resulted in a dead end. Meanwhile, mysteriously, someone keeps the property tax on the unit paid up! I just can’t believe we cannot do something about this situation. Anyone have any brilliant ideas?

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  22. w, savior of cribchatter…

    w for presiden… nevermind!

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  23. “Meanwhile, mysteriously, someone keeps the property tax on the unit paid up! I just can’t believe we cannot do something about this situation. Anyone have any brilliant ideas?”

    Wow- Vissi- that sounds intense. How could an owner be missing for 25 years?

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  24. Yes, I know. When I bought in the building two years ago, I couldn’t believe it when the other owners told me this. They said that the best they know is that the owner was some woman who was a teacher who had mental problems who just up and left, walking out on the place. There doesn’t seem to be a mortgage situation on the place, since no bank has obviously taken possession. Meanwhile, I can’t believe that we cannot track down who is mysteriously paying the property tax, and why this person is not claiming all the money we have waiting for them in the bank account! We are talking vaguely about taking this to court and asking them to legally force it to be sold. But since none of the current owners have any stake on this unit one way or the other, I think the time we will actually take action is if something bad happens, like if the tenants of the unit fall down the porch stairs or something and sue the Association! Has anyone else on this site ever heard of a situation like this? BTW, this condo is in an extremely prime area of Lincoln Park, and the unit is worth at least $400,000!

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  25. Vissi – I’m sure an attorney could figure a way out of this. As an interim solution, Why doesn’t the association raise it’s management fee to a healthy 50% or so? Put that into your reserves.

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  26. “Why doesn’t the association raise it’s management fee to a healthy 50% or so? Put that into your reserves.”

    I thought of this when I moved here two years ago and suggested this to the other owners. But they said they were told the original judge who had ordered the condo association to rent out the unit stipulated that the management fee has to be “reasonable” and “within the norm”. Despite the fact that we have had to supervise renovation of the kitchen and bathrooms and coordinate tenant changes and issues, the Association does not seem to feel we can safely take more than $250/month as a management fee. The last thing we need if an heir ever shows up is being party to a legal action accusing us of abusing our position!

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