This Gold Coast 2-Bedroom Hasn’t Changed Hands Since 1989: 1325 N. Dearborn

1325 n dearborn

This top-floor 2-bedroom at 1325 N. Dearborn in the Gold Coast came on the market in February 2015.

The 3-unit building was built in 1887 and the unit still sports some of its original vintage features.

It has crown molding, stained glass windows and a wood burning fireplace.

Yet it also has the modern conveniences that buyers look for including central air, washer/dryer in the unit and 2-car parking.

The listing says there’s a “newer gourmet kitchen” with black and stainless steel appliances.

This unit last changed hands in 1989 so now’s your chance if you’ve always coveted the top floor unit in this building.

Is 2015 the year that long time owners will finally cash in?

James Kinney at Baird & Warner has the listing. See the pictures here.

Unit #3: 2 bedrooms, 2 baths, 1700 square feet

  • Last sold in 1989– no price available
  • Originally listed in February 2015 for $849,000
  • Still listed at $849,000
  • Assessments of $450 a month
  • Taxes of $10605
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 21×14
  • Bedroom #2: 14×9
  • Family Room: 19×12

 

10 Responses to “This Gold Coast 2-Bedroom Hasn’t Changed Hands Since 1989: 1325 N. Dearborn”

  1. God damn that entire building is hideous, and this unit… ewww!

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    Rating: +2 (from 14 votes)
  2. I like it. It is cute and different. Great low assessments.

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    Rating: +3 (from 9 votes)
  3. better link to see it:
    http://tour.vht.com/433198440/1325-n-dearborn-3-chicago-il-60611/photos/idx

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  4. “Is 2015 the year that long time owners will finally cash in?”

    Yes, assuming they didn’t refi the crap out of it and use it like an ATM.

    after 26 years a 30 yr mortgage should be just about paid off and if they had a 15 yr mortgage even better, right?

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    Rating: +7 (from 9 votes)
  5. I like this place. I wouldn’t feel comfortable living in a condo building with only three units though. What happens when the roof needs to be replaced or the building needs tuck pointing? I can’t imagine three families coming together to actually take care of the issue. One unit might want to go with one contractor, another might want a different contractor, and the third might not even think the work needs to be done.

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    Rating: +1 (from 1 vote)
  6. this unit is stuck in 1985 and will need a lot of work to bring it into 2015.

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    Rating: -2 (from 6 votes)
  7. I don’t know; it mostly needs some cosmetic changes – new light fixtures, new drawer pulls in the kitchen, different paint, strip and re-stain the wood, and I’d want to do something about the mantles/tile on both fireplaces.

    I don’t care for the bathrooms or kitchen, but they seem to be fairly new renos. They’re certainly functional and not terrible; they are projects you could tackle after moving in.

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    Rating: +3 (from 5 votes)
  8. Just up the street, a totally renovated historic home by Noah Properties on the market for $5 mil
    https://www.redfin.com/IL/Chicago/1337-N-Dearborn-St-60610/home/14112879

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  9. “Just up the street, a totally renovated historic home by Noah Properties on the market for $5 mil”

    Way to ruin a nice house. A total mismatch between the interior and exterior.
    I like modern, but not with that facade.

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    Rating: +2 (from 2 votes)
  10. Laura Louzader on April 11th, 2015 at 5:44 am

    jenny, as an owner in a small 9-unit association composed of people with MUCH less money than the residents of this building, I can tell you that when the building needs major work like tuckpointing or a new roof, the owners will damn well come together. It should be no problem for a building whose owners can afford $800K for a place, to come together on and pay for major work.

    Our building badly needed both of these major jobs, thanks to the period during which the building had a huge number of foreclosures with attendant HOA delinquencies, causing a lot of important work to be deferred. Nobody liked the small special assessment, but everyone recognized the urgent necessity. We contacted each owner, had the required owner’s meeting and obtained the required 2/3 majority, got the loan, and had the work done.

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