Is There Money to Be Made in the Hancock? 175 E. Delaware in the Gold Coast

175 e delaware #2

This 1-bedroom on the 58th floor in the John Hancock at 175 E. Delaware in the Gold Coast came on the market in December 2016.

It’s 911 square feet and has south city views.

The listing says it has been “completely rehabbed” but it also says that it was done in 2012 and in the interim, there was a sale.

Since the 2014 sale, it appears there are new white (tile?) floors (can’t tell exactly what the floors are made of) but it’s the same kitchen.

There’s a built-in desk with white cabinets which matches the modern white cabinets in the kitchen.

The kitchen also has stainless steel appliances and a backsplash.

The sky terrace off the bedroom has been converted into a sitting area.

It has wall unit heating/cooling. Parking is leased in the building and there is coin laundry (on every floor, I believe.)

The listing says this unit would make a perfect pied-a-terre.

Originally listed in December for $435,000, that was a gain of 24% over the 2014 sales price.

The Hancock has been an up and down investment for owners over the years.

Are we entering into a new “up” cycle in the building?

Lisa McGuirt at Baird & Warner has the listing. See the pictures here.

Unit #5819: 1 bedroom, 1 bath, 911 square feet

  • Sold in June 2002 for $260,000
  • Sold in November 2007 for $394,000
  • Sold in December 2014 for $350,000 (had the renovated kitchen)
  • Originally listed in December 2016 for $435,000
  • Reduced
  • Currently listed for $405,000
  • Assessments of $786 a month (includes doorman, cable, scavenger, snow removal)
  • Taxes of $5501
  • Parking is leased in the building
  • No central air- but wall units
  • No in-unit washer/dryer
  • Bedroom: 15×10

 

49 Responses to “Is There Money to Be Made in the Hancock? 175 E. Delaware in the Gold Coast”

  1. Weird layout

    No doors to the bedroom, kitchen seems oversized and guessing the bathroom is in the bedroom.

    Crackpipe pricing

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  2. Where else in the 1st world will you find 900 sq feet of space on the 58th floor of an iconic building for $400,000? This *screams* value to me. Too bad I can’t cram my family of 6 (plus a cat) into this unit.

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  3. the low ceilings are something you can’t change and really make this place seem cramped

    also who wants to share a building with so many other people… not my cup of tea… where do they have their condo meetings in a convention center?

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  4. looking to buy on May 8th, 2017 at 4:20 pm

    United Center….

    The residences don’t fill the whole building, it’s just a certain number of floors. I think its 700 units so it’s large but not out of the ordinary.

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  5. I like to think that for 400k without parking, you could find a decent one bed in a number of luxury buildings around downtown. Do real chicagoans live here? I always get the impression that the people that rent or buy in the hancock are out of towners / new to chicago / from the suburbs, and enjoy the thrill of saying ‘i live in the hancock’ more than actually living there.

    The units just all seem dated to me..even the updated ones. I hate the windows.

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  6. I know a lot of real people that live there. It was going to be perfect for my mom but she was outbid. Laundry is on every other floor, you’ll see in ads when they say (laundry floor). It’s not great to go up or down to do laundry. It’s nice because it has a grocery store and a nice pool, a chase bank so in bad weather, my mother wouldn’t have had to leave. There are 15 people on the board and the assessments are low because of all the building retail. And, anybody who lives in the building gets an automatic table at the Cheesecake Factory, no matter the line. So, if you like status at the Cheesecake Factory, this is an added perk.

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  7. You guys aren’t positive about ANYTHING. Sheesh. There’s something for everyone, and this location and the full-service amenities have tremendous appeal for a lot of people. A 1 bedroom for $400,000 in a full-amenity building is quite common from Gold Coast through the Loop. This is NOT a place for the budget-conscious. I’ve got a place at Sandburg for you penny-pinchers. And it will work nicely for you because it will be what you want and need. As the listing Realtor (I’m NOT) my buyer profile for this unit would be a single woman who travels for business and pleasure, wants/needs a Chicago home-base, and enjoys the convenience of the Potash 44th and the pool and workout when she’s home. Also, she likes to have a huge variety of Cheesecake easily available at all times. 😉

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  8. OOOH. Status at the cheesecake factory. Too bad I can’t have dairy or I would totally buy this place.

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  9. “And, anybody who lives in the building gets an automatic table at the Cheesecake Factory, no matter the line. So, if you like status at the Cheesecake Factory, this is an added perk.”

    holy shit what a perk! brb submitting my offer now… LOL!

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  10. “As the listing Realtor (I’m NOT) my buyer profile for this unit would be a single woman who travels for business and pleasure, wants/needs a Chicago home-base, and enjoys the convenience of the Potash 44th and the pool and workout when she’s home. Also, she likes to have a huge variety of Cheesecake easily available at all times. ?”

    I’m guessing that means there’s no limit on the number of cats?

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  11. Two words: recessed lighting

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  12. I actually like Cheesecake Factory. Chicken Madeira, yum.

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  13. http://www.cheesecakefactorynutrition.com/restaurant-item.php?rid=58&mid=2026

    1,420 calories; 85% daily sodium? And you call yourself a doctor? Do you smoke cigarettes too?

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  14. Lol.

    Come on Hd don’t act like you don’t indulge from time to time. I eat pretty healthy during the week but tend to have a cheat meal or two on weekends.

    Smoking is gross. I do have a weakness for bourbon though.

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  15. Unfortunately for me, a few bourbon and suddenly I’ve found myself smoking half a pack of other people’s cigarettes…maybe even a menthol or two…yuk

    As for indulging, a burrito now and again, but beyond that, I rarely eat 1,420 calories in one meal or even in two. That makes me feel sick and nauseous. I’m one of the few guys I know that’s 6 feet tall and still under 200 lbs. I was on a pontoon boat fishing a few years ago on the WI/MI border with like 10 other guys, most of whom where 6 feet tall or larger, and I was easily the only guy under 200 lbs these days. I swear I thought the boat was going to sink…

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  16. Haha, i won’t get into if we have good burritos in this city or not…

    but Since i’ve got a huge inner fat kid, can I just say, the fried chicken at honey butter, the burgers at au cheval, pequod’s and lou’s pan pizzas, portillos beef and cheddar croissant…I can’t help myself sometimes.

    I’m 5’10 and have gotten up to 180 – was 165 last year. time to hit the gym.

    All this aside, would any of you guys buy this place? Sara McMurray’s post above read like absolute realtor spam.

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  17. Realtor Spam?

    My job is to find what my client wants, when I’m working with a buyer. And to find the buyer for the property when I’m working with the seller.

    That was the profile that I came up with when envisioning a marketing plan.

    Isuppose you could say that all marketing is spam to everyone except the person who is thrilled to see it.

    The unit isn’t a place I’d want to live, but 99% of the places I sell meet that criteria, and whether I’d live there or not is TOTALLY IRRELEVANT.

    That was my take on a potential buyer for this unit – it’s definitely not for the honey butter and au cheval guy any more than it’s for me.

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  18. Were you envisioning Jan Terri when you came up this marketing plan?

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  19. Sara,

    I say you market this place to suburban northwest indiana, milwaukee area, or peoria. They will be SUPER exhausted to live in the ‘John Hancock’ and have a ‘private table’ at the Cheesecake Factory.

    I think the naperville and north suburb buyers are too sophisticated to want to live here.

    lol.

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  20. sorry, i meant to say excited, not exhausted. * – had a long day.

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  21. JohnnyU that was an excellent burn btw.

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  22. Guys I’ll market it to anyone who wants to buy it. But it’s good to have a profile, you can’t just toss it out to sink or swim.

    I’m curious about your definition of “sophisticated”

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  23. “sophisticated” :

    Knows that having a reserved table at the cheesecake factory is an excellent joke.

    Doesn’t want to live in a ‘landmark’ that’s bombarded with tourists nonstop.

    Isn’t ecstatic about living on the ‘mag mile’.

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  24. I’m the one who mentioned the Cheesecake Factory reserved table. No realtors put that in a listing. I just happened to know that and mentioned it. Nobody thinks that is some great perk. But it could come in handy sometime. And, the residents go in a door on the opposite side of the building where the tourists go. Opposite elevators too. Tourists don’t interface with residents at all. It’s not a big deal. If tourists are offensive to you, you probably shouldn’t live anywhere in GC/SV/RN. But all buildings have advantages and drawbacks. Personally, the shared laundry room would be an issue for me at JH. But the low assessments, full service grocery store, amazing views, annual big family party for air and water show (which would get me off the hook at Christmas), and an indoor pool would be a huge draw.

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  25. This unit is perfect for the fun loving upper-middle class income earning bachelor in his 30’s with lots of money and time to burn. Regardless of what you think, 99% of the women I know and meet would be impressed by a bachelor living in the Hancock. The .5% who aren’t impressed are the $4,000 LV handbag buying nouveau riche euro trash; and the other .5% are the gold digging almost nouveau riche who are just snobs.

    And for the cheesecake factory, yeah it sucks, but what fun loving girl wouldn’t appreciate a late night snack after a fun night out. Any girl who turns down a free piece of cheesecake at 11:00 p.m. with a reserved table at the factory is not the down to earth type of woman that the fabled bachelor living in this unit would want to date any way.

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  26. You have been really funny lately HD, you finally getting laid again?

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  27. “You have been really funny lately HD, you finally getting laid again?”

    I recently moved from Long Grove to the gold coast. So, so many cougars on the prowl.

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  28. I don’t think you are young enough anymore for those cougars!!!

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  29. “. Regardless of what you think, 99% of the women I know and meet would be impressed by a bachelor living in the Hancock. ”

    Wow. I’m a 1%’er in one way. I always loathed the corner of Chestnut and Michigan. You’re walking down Chestnut and it’s super quiet and lovely and then bam, you’re stuck in wall to wall tourists. There are so many nicer buildings.

    Now, if there were two bachelor options, both equal in all ways except that one lives in the Hancock and one in North Center, I’d go with the Hancock fellow.

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  30. IMO, North Center beats the shit out of University Village Jenny. I’ve lived in RN, LP, LV, Streeterville, Roscoe Village, Ravenswood and a couple others and I like it as much as any of them.

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  31. She was comparing a potential, imaginary bachelor (obviously, its jenny), ceteris paribus of two men, one living in North Center and the other in the Gold Coast

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  32. So how do they verify that you are a resident of the Hancock? Can i just say that I am a resident and cut the line without proving it?

    “I’m the one who mentioned the Cheesecake Factory reserved table. No realtors put that in a listing. I just happened to know that and mentioned it. Nobody thinks that is some great perk. But it could come in handy sometime. And, the residents go in a door on the opposite side of the building where the tourists go. Opposite elevators too. Tourists don’t interface with residents at all. It’s not a big deal. If tourists are offensive to you, you probably shouldn’t live anywhere in GC/SV/RN. But all buildings have advantages and drawbacks. Personally, the shared laundry room would be an issue for me at JH. But the low assessments, full service grocery store, amazing views, annual big family party for air and water show (which would get me off the hook at Christmas), and an indoor pool would be a huge draw.”

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  33. “IMO, North Center beats the shit out of University Village Jenny. I’ve lived in RN, LP, LV, Streeterville, Roscoe Village, Ravenswood and a couple others and I like it as much as any of them.”

    Getting downtown from Roscoe Village, Ravenswood, or North Center is a nightmare. You may as well live in the suburbs.

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  34. This is one of the prettiest one bedrooms that I’ve seen online at Hancock. The maintenance seems a little high for a one-bedroom apartment. I suppose it’s the age of the bldg.

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  35. “Getting downtown from Roscoe Village, Ravenswood, or North Center is a nightmare. You may as well live in the suburbs.”

    There is this little thing called da brown line…

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  36. May as well live in the suburbs? Completely untrue. Ever heard of the Brown Line? My commute is shorter than it would be from ANY burb on transit, not everyone who works downtown is by a Metra station, nor wants to be constrained by that schedule. And don’t even get me started on places within walking distance vs. the burbs when home.

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  37. There are so many people who take the brown line…all crammed into tiny spaces.

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  38. “Getting downtown from Roscoe Village, Ravenswood, or North Center is a nightmare. You may as well live in the suburbs.”

    My commute from Winnetka on Metra is a 28 minute train. If you work close to Olgilvie the commute is shorter from the burbs.

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  39. My commute from Winnetka on Metra is a 28 minute train. If you work close to Olgilvie the commute is shorter from the burbs.

    Suburban math! Train time only, not door to door.

    Also, if you live in Ravenswood, you have a metra station option as well. Time on the train is under 15 minutes. Using suburban math, that means your commute is -5 minutes.

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  40. “Also, if you live in Ravenswood, you have a metra station option as well.”

    Yeah, that’s the biggest hole in jenny’s statement lumping in NC, R’wood and RV.

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  41. “commute from Winnetka on Metra is a 28 minute train”

    4:30, 5:35, 6:31 outbound. Otherwise 35.

    And nothing in the AM is scheduled as fast as 28 minutes. Looks like the only one that breaks 35 is the 8:43, getting in at 9:15.

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  42. I wonder how it is to live in Winnetka. I’m tired of CPS.

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  43. “Any girl who turns down a free piece of cheesecake at 11:00 p.m. with a reserved table at the factory is not the down to earth type of woman that the fabled bachelor living in this unit would want to date any way.”

    That is awesome and another good yardstick to find a great spouse! My now wife (10 year anniversary tomorrow) told me on the night we met that her attitude on life was that “it is all about being happy” and she has lived by that concept since the day we met.

    At first that statement made me nervous but she meant it in the best way. We both try to live each day by finding positive things to appreciate instead of dwelling on the negative ones that can bring you down! So the Cheesecake private access table would be just the fun joke to tell friends and bring a smile or laugh!

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  44. Suburban math! Train time only, not door to door.
    Also, if you live in Ravenswood, you have a metra station option as well. Time on the train is under 15 minutes. Using suburban math, that means your commute is -5 minutes.

    You got me! My total commute time is 35 minutes. I live 1.5 blocks from the train line and I work in the building right next to Olgilvie. Some times its even 37 minutes depending on how long the Dunkin Donuts line is at the train station.

    I put train time, because we are comparing commutes, and walking distance will depend housing choice whether you are in the city or not, and that doesn’t reflect brown line versus Metra. Ravenswood is better, but the point I am making is that living in the city does not always equate to a better commute. Most of my colleagues say its 45 minutes from Roscoe Village, North Center and SoPo to our offices. Metra is often better unless you don’t work regular hours (since Metra doesn’t run frequently in off hours) or don’t have the ability to take an Uber home and bill the client for late work.

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  45. “commute from Winnetka on Metra is a 28 minute train”
    4:30, 5:35, 6:31 outbound. Otherwise 35.
    And nothing in the AM is scheduled as fast as 28 minutes. Looks like the only one that breaks 35 is the 8:43, getting in at 9:15.

    Your right. AM is 35 but the PM is 28. I never noticed b/c I often get dropped off at Kenilworth and grab coffee on the way in. PM is a straight shot. Either way, its under 40 all in and the same as many north side neighborhoods, particularly those with good schools.

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  46. I can help you buy a place at the Hancock :) where we started!

    Unfortunately, it’ll take AT LEAST 28 minutes to get to Ogilvie via cab (Uber for those who aren’t terrified of the unregulated drivers). The water taxi will be a nice way to start and end the day for a few months out of the year.

    BTW since my last post on this thread I was contacted by a young man, twenty-something, interested in a 2 bedroom at the Hancock.

    Sabrina I’d say the Hancock is having a renaissance! I was there showing 3x in April, looks like I’ll be back in May!

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  47. “BTW since my last post on this thread I was contacted by a young man, twenty-something, interested in a 2 bedroom at the Hancock.

    Sabrina I’d say the Hancock is having a renaissance! I was there showing 3x in April, looks like I’ll be back in May!”

    I’m SURE. The hancock is the SPOT where all the 20 – somethings want to live.

    Spare me.

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  48. “I put train time, because we are comparing commutes, and walking distance will depend…”

    Most of the people that I know who work in the burbs are not in walking distance to the train. They drive and park before they even get on the train. One guy told be that he gets an express train to Arlington Heights, 15 minutes, but the longest part of getting home is the gridlock in the parking lot.

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  49. I mean to live in the burbs and work downtown…

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