Want New? Move Right Into This Fully Renovated River North 2-Bedroom: 400 N. LaSalle
This 2-bedroom in 400 N. LaSalle in River North recently came on the market.
The building was constructed in 2003 and has 415 units plus rental parking in the building.
It’s a full amenity building with a clubhouse, a pool and doormen.
This unit is on the 18th floor facing north and east.
The listing says it has an “all new interior” including new 5″ wide plank wood floors.
The kitchen has been reconfigured and is now open to the living room.
It now has modern gray wood washed cabinets, stainless steel appliances and quartz counter tops.
The listing says both bathrooms have also been renovated and have Porcelain tile flooring.
The unit has solid core doors, crown molding, high end base trim and skim coated ceilings.
It has central air, washer/dryer in the unit and parking is rental in the building.
Buyers want “new.”
Will this sell quickly?
Lance Kirshner at @Properties has the listing. See the pictures here.
Unit #1802: 2 bedrooms, 2 baths, 1271 square feet
- Sold in June 2007 for $500,000
- Sold in June 2014 for $415,000
- Currently listed for $525,000
- Assessments of $874 a month (includes heat, a/c, doorman, cable, Internet, clubhouse, exercise room, pool, exterior maintenance, scavenger, snow removal)
- Taxes of $8474
- Central Air
- Washer/Dryer in the unit
- Parking is rental in the building
- Bedroom #1: 17×12
- Bedroom #2: 14×12
This one checks a lot of boxes, assuming all that work is really new (since last sale) and no looming building issues it should sell fairly quickly. The rental parking is a bummer but at least it’s in the building.
“Will this sell quickly?”
It’s contingent. I think this is one of a few deals on the market. The assessments aren’t too bad for city living, and the renovation looks well done.
Been in this building a couple of times and this is the best renovated I’ve seen. Personally, it checks a lot of my boxes as well–lots of windows, balcony, great views, etc.
The pool deck is decent, but the gym is doesn’t have big boy weights which is a bummer. Some people might be averse to the noise from Moe’s / Old Crow at night and that many of these are rented to frat bros. The new luxury rental buildings around the corner though might add some more vibrance to this corner of RN as well.
Beautifully done but still hate the building’s location and the condo’s layout. Is the rental parking exclusive to the building’s residents or is it public?
per listing “high end base trim, and crown molding”
can anyone else see the crown molding?
I like this building better than the one just to the south east of it that looks the same with the gross subway and 7-eleven and CVS on the bottom floor
Still much cheaper than renting a similar space nearby assuming you can get the 20% down payment put together
I’m shocked that people like this unit so much. That kitchen is horrendous. I don’t care how much they paid for it, I hate it. In a few years, it will be what a “cool” 70s green kitchen became in the 80s. I wouldn’t want it in my cheapo condo, let alone in one that costs $414 psf.
I hate white counter tops. I don’t want to obsessively clean every day. The subway tile backsplash looks out of place and the tiles appear to be fake. I don’t see any grout. I hate the grain on the cabinets and dislike how the floor looks both similar and different enough to the cabinets that it’s very off putting. I hate that the floor is slightly whitewashed and that random walls are pure white and other random walls are grey. I’m also shocked that no one complained about the lack of a hood over the stove.
I also dislike that they used what appears to be a vinyl pan in the master bath. It also appears that the tiles are fake in the bathroom as the agent mentioned that the bathroom has tile “flooring/surround,” which makes me think that the tiles around the tub aren’t actually tiles. If you’re going to use a surround, why put the tile indentations? I don’t like when things pretend to be other things. Own that surround and make it look like a surround.
I wouldn’t normally be this critical, but when you spend a lot of money on upgrades and make the place look like this, it warrants criticism.
“anyone else see the crown molding?”
Not there.
I’m actually with jenny on this one. However, I like it – just not for me to live in. As for a deal? I think it’s right on (contingent – so I guess it was). I’m not totally in tune with rents in this specific area, but let’s say you sink 100K+ getting in, could this generate cash flow? It would probably rent for better than the crappy apartment buildings in RN. But I agree, the finishes are already dated. Maybe not to the majority of the audience, but mark my (jenny’s) words, they’re dated … already. However, easy enough to flip out for new tenants in 4-6 years time.
Remember, this was one of the foreclosure mecca buildings 7 years ago.
I thought that was 345 N. LaSalle
Sonies is right
http://www.chicagobusiness.com/article/20080308/ISSUE01/100029398/a-sterling-example-of-condo-bust
Sterling got their shit together after that. They recently redid their deck getting rid of one of the tennis courts. Grilling area is legit, pool is full legit, indoor gyms are decent, and most of all the HOA is very cheap (like $700 for a 2/2). The building has a more professional less frat feel than this one.
For $500K I would take this instead. Much better location, lots more space, better balcony view, and killer office (that is actually OPEN to the rest of the space). HOA is a bit steep, but makes sense for the size:
https://www.redfin.com/IL/Chicago/600-N-Dearborn-St-60654/unit-1808/home/12695117
Shave $50K off and I’d prefer murder plaza across the street.
“The subway tile backsplash looks out of place and the tiles appear to be fake. I don’t see any grout.”
it’s not a traditional 3×6 subway tile. it’s a longer, rectangular tile same as what’s in the shower. installed in a stacked pattern is a more modern look. you don’t see grout because it’s white. nothing new here.
Guys ( and Gals , Gender nonconforming folks, etc ) –
Let’s be real here. This place absolutely SUCKS. Yes, renovated, but cheap renovations disguised as ‘trendy’. It’s not that big. The building is old. The assessments are kinda on the higher end for a small 2 bedroom.
However, I imagine if you’re a buyer in this tired, inflated market, this would seem like an absolute ‘deal’.
“The building is old.”
This building is old?
2003 is “old” now?
Lol.
“The building has a more professional less frat feel than this one.”
Even with all of those renters living in there? The building used to be over 50% rental during the bust. Did they put in a cap?
I tried to buy a condo in this building in the summer of 2009. I couldn’t get financing with only 10% down due to the high rental rate.
“Will this sell quickly?”
It wasn’t contingent the day before when I wrote this post. I guess that answered the question. Yes, buyers want “new.”
All: The backsplash in the kitchen isn’t tile at all, it’s the same material as the counter, quartz.
The tile in the bathroom is real and as someone pointed out, they are a little longer than normal and set in a stacked pattern rather than a ‘brick’ pattern. (The shower door in the Master looks impressive). Can’t tell for sure what the shower pan is, but I would assume it’s substantial.
So, the only thing that might be ‘trendy’ here is the horizontal wood grain pattern on the cabinets… all you whiners need to get a grip…
“All: The backsplash in the kitchen isn’t tile at all, it’s the same material as the counter, quartz.”
Wrong. you can clearly see the shape of the tile in picture 10. it’s the same exact tile that is in the 2nd bathroom (pic 16). white tile with white grout.
“Let’s be real here. This place absolutely SUCKS. ”
nah man, its not going to win any awards but it doesn’t suck… have you looked at other units in this building? Most of those haven’t updated since 2003 and they indeed do suck
marco, you’re right, my bad… still real tile, tho
“Yes, renovated, but cheap ”
Out of curiosity, what screams cheap to you. Just looking at the pictures, the cabinetry could be anything from Ikea to high-end Italian. You can’t tell from the pictures. Appliances seem appropriate for the price point. Looks like the kitchen has been opened up, adding the breakfast bar. Sure, the bathroom tile isn’t Ann Sacks or anything designer, but then again it’s a 500k condo. Quartz isn’t cheap it looks as though they went the extra step in installing decent shower heads and handhelds. Floating the double vanity is also an added expense most people going cheap won’t really take on. they could have installed a better shower glass door in the master though.
There’s something very anonymous looking about this unit. It’s not offensive, but it looks like long-term visitor housing for someone whose company sends him to town to work for a few months.