Are You Obsessed With High Rise Terraces? A 2-Bedroom at 60 E. Monroe in the Loop

60 e monroe approved

This 2-bedroom in The Legacy at 60 E. Monroe across from Millennium Park in the Loop recently came on the market.

At 1428 square feet, it is a corner unit with 10 foot windows in the master bedroom.

There’s also a unique 10×5 additional space which could be used as a home office or an extra closet.

This is just one of 6 units with outdoor space in the building.

It has a 400 square foot private landscaped terrace which is maintained by the building.

The kitchen has Brookhaven cabinets, a Subzero refrigerator, a Bosch dishwasher and granite counter tops.

It has central air and washer/dryer in the unit.

There’s no parking listed.

This unit recently sold just 8 months ago, in November 2016. It is listed for $24,000 more than last year’s sale.

Are you a terrace person? Or are views the only thing that matters in a high rise?

Catherine Arslanian at @Properties has the listing. See the pictures here.

Unit #1504: 2 bedrooms, 2 baths, 1428 square feet

  • Sold in October 2010 for $649,000
  • Sold in December 2012 for $580,000
  • Sold in November 2016 for $725,000
  • Currently listed at $749,000
  • Assessments of $684 a month (includes heat, a/c, doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal)
  • Taxes of $11571
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 16×15
  • Bedroom #2: 12×10
  • Laundry room: 4×4

19 Responses to “Are You Obsessed With High Rise Terraces? A 2-Bedroom at 60 E. Monroe in the Loop”

  1. Nice place.

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    Rating: +3 (from 5 votes)
  2. That terrace is really nice. I’m surprised that the association pays to maintain it. I wonder what that means?

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    Rating: +7 (from 7 votes)
  3. Having the building maintain the landscaping is weird. How does the landscaper get to the outdoor area? I wouldn’t want to be outside, enjoying my outdoor space and then suddenly have a strange man appear. I also wonder if the entire building contributes to the cost of the landscaping or if the cost is built into only this unit’s assessment.

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  4. One of my favorite downtown buildings. Seems like a reasonable price.

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    Rating: +2 (from 6 votes)
  5. “Having the building maintain the landscaping is weird.”

    I think that it is possible that that was carefully worded–you can parse the listing to be “professionally landscaped”–true–and “terrace maintenance by association”–also true, undoubtedly, as it is also someone’s roof, but that the landscaping is not maintained by the association.

    So, maybe, maybe not.

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    Rating: +4 (from 6 votes)
  6. In answer to Jenny, while it depends on the building, roof “gardens” (as opposed to the Terrace) present issues for maintenance of the roof below, etc., so it’s not surprising that the building would maintain (to keep the owner from doing damage thru planting the wrong types of landscaping, etc.) Also, it looks like there may be other units that look out on this landscaping from above, so it’s not just the unit’s owner that would care about how it looks.

    I live in a unit with a roof garden out side my unit that is maintained by my building. It was designed so that they don’t need to access through my unit. I indirectly pay for the garden’s maintenance as the Ownership share “assigned” to my unit reflected a significant premium over a similar unit without that feature.

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  7. Occupy the premises for six months and try to get your transaction costs back? What is going on here?

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  8. I take that back – – their ask looks like they are trying to only get half their transaction costs back.

    It is a nice unit but I don’t understand why it is worth 3/4 of a million bucks.

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    Rating: 0 (from 4 votes)
  9. “What is going on here?”

    Money laundering?

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    Rating: +1 (from 7 votes)
  10. anon (tfo) – – that could be actually. One of the red flags for money laundry is indeed a lack of concern over the prospect of losing large sums of money.

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  11. This place seems really small to me. The living room seems small, the kitchen seems crowded. Having a balcony is nice but in Chicago, it’s unusable most of the time.

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    Rating: -5 (from 7 votes)
  12. “Having a balcony is nice but in Chicago, it’s unusable most of the time.”

    Only if you’re a big wuss.

    There is certainly “more usable” and “less usable”, but “unusable” is maybe 1/3 of the year.

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  13. “Occupy the premises for six months and try to get your transaction costs back? What is going on here?”

    I know the sellers. Not money laundering.

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    Rating: +3 (from 3 votes)
  14. “I know the sellers. Not money laundering.”

    Relo assistance? Or just bearing an unfortunate loss?

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  15. “Occupy the premises for six months and try to get your transaction costs back? What is going on here?”

    Had they been in the unit years ago, I might have guessed that their sudden need to sell was due to all of the disapproving looks coming from folks with east-facing offices in the building directly west, whose seniority-based office locations/views were obstructed when this building went up.

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  16. “Relo assistance? Or just bearing an unfortunate loss?”

    They’re a young couple from NYC. Relocated here for jobs at high profile law firms. Not sure if they’re going back to NYC or…..other things I’m not going to speculate about.

    But they’re nice normal people. They need to put a password on their wifi though >:O

    “Had they been in the unit years ago, I might have guessed that their sudden need to sell was due to all of the disapproving looks coming from folks with east-facing offices in the building directly west, whose seniority-based office locations/views were obstructed when this building went up.”

    You can’t see into our windows during the day. Only out.

    The downside to this unit is that it is on the “public” terrace side. Which means the entire building can go out there. The other side has a “private terrace” which only 3 units can access. Much better privacy. And we get a view of the lake + fireworks, let our dogs out, etc.

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  17. Oh also the previous owner of this unit was the brother of some Bears player. They sold in a super hurry. IMO given prices of other units in the building this unit is _slightly_ underpriced.

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  18. Jim in Chicago on June 22nd, 2017 at 2:58 pm

    We actually toured this place last time it was on the market.

    The terrace is contiguous with a terrace that is open to all building occupants, complete with cute herb garden etc. There are at least a couple other units that face onto it, but the space that comes with this unit is private.

    Not a bad unit, the one very, very odd thing is the W/D sticking out into the hallway by the entrance. I’m pretty sure that when we toured it had a full sized stacked unit, that actually stuck out into the hallway, not it seems apartment sized, but still looks like the might be room for a door. Who wants quests to walk right past your open W/D when they enter your home. Major design fail.

    As I remember, good closet space, not much in terms of views since it is a low unit, but despite the city location dead quiet with the windows closed.

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  19. > Who wants quests to walk right past your open W/D when they enter your home. Major design fail.

    This shouldn’t be the case? The closet with the W/D should be flush with the wall and have a door on it. At least, that is how every single other W/D unit in all the other Legacy units are.

    Perhaps they took the door off, but you can easily put one back on.

    > dead quiet with the windows closed.

    I’m not sure whats up with the 15th floor, but when I lived in a higher unit in the building the city/L noise was pretty loud. And it is dead silent on this floor. We have the living room windows open almost 24/7 in the summer and can barely hear the train. Not so much with the bedroom windows though, have to keep those closed when we sleep.

    > The terrace is contiguous with a terrace that is open to all building occupants, complete with cute herb garden etc. There are at least a couple other units that face onto it, but the space that comes with this unit is private.

    Correct. The south terrace (which this unit is on) is accessible to the entire building. Each of the 3 units has their own space sectioned off. And then there is a public area.

    There is an identical terrace on the north side as well, which is completely private to those 3 units. And no one else in the building can access. I never knew it was there for 3 or 4 years living here….

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