Why Move to Chicago? The Views: A 1-Bedroom at 405 N. Wabash in River North

405 n wabash

This 1-bedroom on the 16th floor of River Plaza at 405 N. Wabash in River North just came on the market.

It has south east views, including of some of the most iconic buildings in all of Chicago.

Not only are you looking directly at the Wrigley Building, but in the distance, across the River, is the London Guarantee Building at Michigan and Wacker which was built in 1923 in the Beaux Art style.

According to Wikipedia, along with the Wrigley Building, it is considered one of the four historic anchors of the Michigan Avenue bridge.

Big changes are coming for that building. It previously housed Crain’s, but it will be the LondonHouse Hotel this spring, along with a 3-level rooftop terrace/restaurant.

You can read about that conversion here.

River Plaza was built in 1977 and has 697 units. It was converted to condos in the mid-1990s.

At 50-stories, it is one of the tallest purely condominium buildings in the city.

This unit has hardwood floors in the living/dining area.

The kitchen has white cabinets, white appliances and granite counter tops.

There is central air, but no in-unit washer/dryer. Parking is available in the building for $45,000.

This is a full amenity building which has a clubhouse, exercise room, and indoor pool.

If you work in the loop, in the summer time, you can take the water taxi which docks just in front of the building.

Listed at $319,000, is this a deal for its location near the Mag Mile and the River, including the new River Walk that is just across the bridge?

Haroon Khan at Streeterville Realty has the listing. See the pictures here.

Unit #1611: 1 bedroom, 1 bath, 950 square feet

  • Sold in November 1996 for $159,500
  • Currently listed for $319,000 (parking is $45,000 extra)
  • Assessments of $728 a month (includes heat, A/C, doorman, cable, Internet, clubhouse, exercise room, pool, lawn care, scavenger, and snow removal)
  • Taxes of $4150
  • Central Air
  • No in-unit washer/dryer
  • Bedroom #1: 16×11

 

 

49 Responses to “Why Move to Chicago? The Views: A 1-Bedroom at 405 N. Wabash in River North”

  1. Hmmm no in-unit washer/dryer and those finishes? Thanks but no thanks.

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  2. Nice mirrors LOL

    Dont see this place as currently situated getting the ask (Esp w/ the parking adder). Looks like the only thing done here was a lame kitchen “remodel” – new appliances, Granite and maybe cabinet doors. Right now its screaming apartment or flophouse for someone on a 2 year assignment in Chicago.

    They’d probably be well advised spending some coin ($20-40M) on improvements and tacking that onto the ask.

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  3. With a little updating this would make a nice in-town unit for someone who doesn’t need the latest trendy address. Those views are definitely the best thing about the unit.

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  4. Really? really? three posts in and nobody has mentioned the staging of having a sole plant on wheels as the focal point?

    Finishes scream rental grade, which is not a bad thing but it doesnt scream 319k as presented.

    Paint, new/better tile in the kitchen, a full bathroom redo, you can even leave the mirrors but you need to take them out of the kitchen back splash and do a typical glass tile backsplash. Then you probably could list it for a bit more and get that price.

    If you want to keep it rental grade, then what is the rent for a 1br in river north? then add a bit for cool views. Now does it pencil out?

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  5. This place is a total mess.

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  6. “this would make a nice in-town unit for someone who doesn’t need the latest trendy address.”

    ha? The best thing going for this place is its address. River North is a pretty great location.

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  7. Jenny, the place is open and clean. Aside from an outdated look, what makes it a “mess”?

    For me personally, lack of in unit laundry is a deal breaker.

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  8. Obviously I meant a specific building, not the neighborhood in general.

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  9. “For me personally, lack of in unit laundry is a deal breaker”

    For a 1 bedroom single guy/lady/ladyguy why would one need a in-unit? Yes it would be preferred but i don’t see it being a deal breaker.

    also for a empty nest in-town, i dont think it would be a deal breaker either.

    now if its a DINK then i dont see this as a place they would be looking at anyway

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  10. @Elliot –
    1. Mirrors everywhere
    2. No washer/dryer
    3. Cheap looking cabinets
    4. Rental grade appliances
    5. Oddly positioned recessed lighting in the master bedroom
    6. Rental grade bathroom
    7. Towel bar in an odd position in the bathroom
    8. Ceilings appear low

    These things combined with the premium asking price make this place a mess.

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  11. @Groove
    I live alone and there is no way I would ever consider a place that didn’t have a washer/dryer.

    Reasons:
    1. My personal time is extremely valuable to me and I don’t want to waste it by going to a communal laundry room.
    2. Shared washers/dryers freak me out. I know it’s not logical, but the idea of putting my clothes in the same washer/dryer as a stranger freaks me out.
    3. I don’t want to pay a service to wash my underwear. I don’t want strangers touching my underwear.
    4. I have dogs and they sometimes vomit. This necessitates doing emergency loads of laundry at all hours of the day/night.
    5. I want to be able to wash my clothes whenever I want and not to deal with waiting for an open machine or worrying that I have to go to the laundry room immediately to unload my clothes.
    6. I worry about my clothes getting stolen. Each load of laundry is worth hundreds of dollars.

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  12. “For a 1 bedroom single guy/lady/ladyguy why would one need a in-unit? Yes it would be preferred but i don’t see it being a deal breaker.”

    No way. I hate the shared stuff too and am too old for that even if I were single. Also unless you are pretty wealthy (then why are you living here?!), laundry could be quite expensive. Besides the obvious like personal clothing, I like to wash our towels, linens, dish cloths, pillows, table clothes, running shoes, back packs, shoe bags, suitcase liners, etc often. Do you have an idea how much that’ll cost?

    “also for a empty nest in-town, i dont think it would be a deal breaker either.”

    This I can believe. If one only uses the place as an in town then sure they can wash their stuff outside.

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  13. Jenny on behalf of all of us on CC, we would like to thank you for the years of CC comedy gold you have bequeathed (fought using the naughty spelling) on to us.

    If there wasnt a Jenny then there wouldnt be a reason to read the comments on CC.

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  14. Now on to you points….

    1. Actually a communial laundry room would save you time and be faster as you can do all your loads at once.
    2. I totally get this, totally.
    3. Why not pay service for the clothes and do the undies yourself?
    4. Infrequent outliers but it has any ways around them, but I see your point.
    5. But you dont seem like a fly by the pants person, i suspect your laundry day is the same day each week and probably wash in the exact same order each week to.
    6. If thats an issue in a building the HOA should take care of that quickly.
    7. I love bullet points

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  15. Aside from the strange plant that seems to be in too many pictures, I think the place looks “fine”. I don’t think this place is going to be purchased for it’s high-end finishes, or lack thereof. This place is going to sell for the best reason: its location. And the purchaser will probably enjoy the views.

    The numbers are good. $336/per sqft purchase price. Reasonable taxes. HOA fee in mid-range, with plenty included.

    Parking is expensive, that’s a given in this location. In-unit laundry is the big thing missing, but the building was built in 1977 when in-unit laundry was certainly not normal. Someone will have to add it. Maybe the next owner.

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  16. miumiu,

    Yes having one in the unit is 100% preferred, for all the reason you and jenny mentioned. But i am talking about it being a deal breaker. Considering the market person for this type of unit, i would say it isnt a deal breaker. a factor, yes. a deal breaker, no.

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  17. I’m pretty sure I am the market for this type of unit… single, wanting a convenient location, reasonable price…

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  18. Does the kitchen have a mirrored backsplash?

    There’s something I’ve never seen before!

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  19. 1) no one has mentioned the green river?
    2) not necessarily rental grade, but the granite looks like the home despot especiale.
    3) I shared laundry in the dorms and in my $800 a month 2 bedroom. No way would I pay $319,000 and have to trek my laundry to the communal laundry room
    4) on the plus side at there is room for a small dining table for entertaining!

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  20. Luis_Carruthers on March 21st, 2016 at 12:54 pm

    Can an in-unit be installed?

    Other 1 bedrooms in this much cheaper. This has better views, but is still significantly overpriced IMO.

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  21. My guess is that the in-unit laundry rules are dated 1977, when the building was built. The likely requirement at that time specifies a 2″ drain, which only the tub has. Not too many people want to replace the tub with an in-unit laundry, although some 2-bath places do just that.

    I know someone who was faced with this issue. The solution was to replace the kitchen dishwasher with a European combo washer/dryer unit. They ate out all the time and had very little use for a dishwasher. It was done under the radar of the building rules.

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  22. “I’m pretty sure I am the market for this type of unit”

    Jenny, you are unique flower. so it doesnt help your case for deal or no deal breaker.

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  23. “The solution was to replace the kitchen dishwasher…..”

    Now not having a dishwasher is a deal breaker!!!!!!!!!!!!

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  24. I’m always shocked at the general consensus of places listed here on CC. Sometimes I look at the pics and think “horrible!”, then look in the comments to see everybody loves it. With this place, the opposite. I think it’s a nice place. Completely outdated, yes, but the views and location are great and it’s easier to change cabinetry and appliances than the location and views.

    I would rather buy a place with outdated finishes and fix it to my liking then pay for someone else’s remodeling/taste.

    Not a big fan of the lack of in-unit laundry, or of the mirrors, but the mirrors you can salvage and use for the master bedroom ceiling. 😉

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  25. “Does the kitchen have a mirrored backsplash?”

    We had one in our condo in ELP. Laughable in terms of looks, but was actually pretty easy to keep clean.

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  26. ” pay for someone else’s remodeling/taste.”

    Speaking of…

    check out this place:

    https://www.redfin.com/IL/Chicago/3642-N-Bell-Ave-60618/home/13388836

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  27. Anon(ufo),

    Are you selling your place?

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  28. @anon(tfo) – I like pic 7. Who doesn’t want to experience the feeling of going to the bathroom in the middle of a subway platform?

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  29. Re: 3642 N. Bell – given the careful attention that went into every room in the house, and to the listing pics, when they were setting up the shot of the yard, I wonder if it was the owner, broker or photographer who said “let’s just dump the bikes, scooters, etc. right here; it will suggest that a young family actually lives here.”

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  30. That place on bell looks like a Z Gallerie show room.

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  31. I always figured with Jenny’s bathroom & cleanliness issues that it would be mandatory that new underwear be worn daily and used would be burned

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  32. I always made fun of Jenny’s bathroom preferences, but the place we are renting for the winter is a 1 bedroom plus den and it has 2.5 bathrooms.

    And it’s perfect for the 2 of us!

    Sorry for doubting you, Jenny.

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  33. My favorite is the “FAMED LONDON STREET ARTIST “BANSKY” INSPIRED GRAFFITI TILES”.

    From the manufacturer’s site:

    Inspired by street graffiti, the Bansky Museum Design collection features over 60 different designs, printed with NCT HD printing technology to ensure high-definition results.

    http://www.peronda.com/en/collection/bansky

    Look at the graffito used, and it bears almost no similarity to Banksy’s work.

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  34. @Groove, Yes, for most people not having a dishwasher is a deal breaker. It think the plan was to put a dishwasher back if she ever moved. And take the washer/dryer to the next place. Moot point since she never moved.

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  35. There gets to be a point in the life of a middle class adult, where you don’t want to waste time on things like doing dishes manually or washing your delicates in a communal washing machine. My time is precious to me and I would rather spend the little free time I have on interesting or fun things.

    Life without a dishwasher is no life at all.

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  36. Come to think of it, I don’t think I’ve ever manually washed dishes.

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  37. “Look at the graffito used, and it bears almost no similarity to Banksy’s work.”

    Dont get groove started on Banksy. Dont, get, me, start, ed!

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  38. “Moot point since she never moved”

    Do have a question, as one would have neighbors over, did she hide the washer? as we know how people like to gossip and seems that condo people gossip even more than the norm.

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  39. “Life without a dishwasher is no life at all.”

    I can totally survive without a dishwasher. Actually I almost wash everything before putting it in anyways as I hate dried up food on plates and utensils.
    Now remove my washing machine and I will not last 3 days.

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  40. “Dont get groove started on Banksy”

    Yes, but how do you feel and Ban-sky, the inspiration for those tiles?

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  41. What kind of sucker thinks Banksy is art? The kind that is going to suffer multiple price drops so that someone can rationally afford to tear out their overly taste specific decor.

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  42. “What kind of sucker thinks Banksy is art?”

    The same suckers who made Damien Hirst rich.

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  43. I had never even heard of Hirst, wish I still hadn’t as he’s by all appearances a disgusting charlatan.

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  44. @Groove: No, she didn’t hide the the washer/dryer in her kitchen. Yes, people did gossip about it. I think a few others in the condo building later did the same thing. The think the condo board’s attitude is “what’s done is done” and they don’t want to be bothered unless there are complaints. Now, if anyone were to ask for the condo board’s permission to replace a dishwasher with a washer/dryer, they would be refused. The last thing the board would want to do is change the washer/dryer rules. That would require work from an all volunteer group. Nobody is going to volunteer for that.

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  45. Thanks VD, I was curious. Had a great Auntie in a condo that wouldnt let her hang a wreath on her door in the hallway for Christmas. And when my wife found her an awesome side table (that was carried with one hand) they wouldnt let me in with it, i had to SCHEDULE the “service” elevator to take it up. Long story short and very unpleasant words said I took it up on the “regular” elevator.

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  46. “never even heard of Hirst”

    Possibly the richest ‘artist’ ever.

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  47. “Yes, but how do you feel and Ban-sky, the inspiration for those tiles?”

    I dig the tiles and its application of them too. Now the overall use of street art in the formal livingroom is a bit pretentious and then using it in the master bath too plus the picture of the subway platform in the powder room now just makes it all tacky.

    I deeply apologize for giving your home the cribchatter treatment. but i do have to add @fo you need to pick up your kids toys before taking the yard picture next time.

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  48. One bedroom units in high-rises depress the hell out of me. Makes me think whoever moves in will follow the lonely sad path of a Chris Farley. What else is there to do there in River North but eat & drink? People think they’ll use the fitness centers, but…

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  49. I live in the same unit a few floors downstairs. View is incredible, always surprises my guests. The leaving room is so big that my landlord built a second bedroom in the living room. Still have a large living room with a sofa, chair and dining table. Master bed is huge. Entrance closet is huge. Bathroom is very small. Building gym and swimming pool are above average. Location is great as the building is not directly on a street, at least for units xx11, and they also enjoy more privacy than the average downtown apt. That said, I’m not commenting on the price.

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