Do You Get More for Your Money in a 1970s High Rise? 1313 N. Ritchie in the Gold Coast

1313 n ritchie

This 2-bedroom at 1313 N. Ritchie Ct in the Gold Coast recently came on the market.

This building was constructed in 1973 and has 143 units and a parking garage.

It’s a full amenity building with a doorman, exercise room and outdoor pool.

This is a corner unit which faces west.

It has hardwoods throughout and crown molding.

The kitchen is open to the living/dining room and has white cabinets, white appliances and granite counter tops along with a breakfast bar.

The second bedroom has French doors.

The listing says there are new heating/air conditioning units throughout the unit.

It has the features that buyers look for including washer/dryer in the unit and deeded parking is available for $55,000 extra.

The property also has a terrace with east, west and south views.

The 1970s buildings were routinely built with larger floor plans than what you’d see today. This unit is 1300 square feet, much larger than the 1100-1200 for a newer construction 2/2.

Can a 1970s high rise be a better deal than new construction?

Kimberly Gleeson at Baird & Warner has the listing. See the pictures here.

Unit #1401: 2 bedrooms, 2 baths, 1300 square feet

  • Sold in September 1996 for $296,500
  • Sold in April 2000 for $350,000
  • Sold in June 2004 for $399,000 (included the parking)
  • Currently listed at $490,000 (plus $55,000 for parking)
  • Assessments of $835 a month (includes doorman, cable, Internet, exercise room, outdoor pool, exterior maintenance, lawn care, scavenger and snow removal)
  • Taxes of $9417
  • No central air- but has wall units
  • Washer/dryer in the unit
  • Bedroom #1: 11×18
  • Bedroom #2: 11×13
  • Balcony: 8×7

15 Responses to “Do You Get More for Your Money in a 1970s High Rise? 1313 N. Ritchie in the Gold Coast”

  1. French doors off the living area doesn’t equal a bedroom for long term use

    Not a bad place for empty-nesters.

    Would like to see the electric bills for this place

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  2. The bad thing about these older buildings tend to be a trade-off of higher assessments. Although this one doesn’t seem too bad for a two bedroom.

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  3. “Can a 1970s high rise be a better deal than new construction?”

    No. Because new construction is not going to need window replacement, elevator replacement, or other many major repairs that seem to hit 1970s high rises.

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  4. So you’re in for 545K (with parking) BEFORE you start demolition? No lake view. “Almost” a 2nd BR. Window unit AC. Kitchen and baths need gutting. What could someone expect to get for a well done 1300sf unit in this building? I’m not criticizing, truly curious. If it’s not at least 650K, what exactly do sellers expect? That someone falls in love with the west view?

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  5. This is a bigger kinda sorta better renovated 3/2 facing the right direction and its 649K (didn’t check to see if parking was extra). I’d rather skip the renovation hassle and start here.

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    Rating: +4 (from 4 votes)
  6. Doh! link

    https://www.redfin.com/IL/Chicago/1313-N-Ritchie-Ct-60610/unit-705/home/14124590

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  7. Not one but two deeded spots included in the price with unit 705-WAY better value there.

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    Rating: +2 (from 2 votes)
  8. I’m not sure, but the planned building at LSD and Banks may impact the view of 705 (the three bedroom ChicagoDog linked to.) The nice thing about the two bedroom is the view to the south and the light that comes with that exposure.

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  9. It’s a trade off. I’ve rented in both. The older buildings are much larger in living space, smaller in bathroom space. The assessments include everything in the older buildings, in the newer, they put in separate furnaces, ac. But the older ones always have plumbing issues of some sort. It comes down to personal preference.

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  10. If you don’t have separate furnaces, then can you control the temperature in your unit? My grandpa’s condo building didn’t have the ability to allow him to control the temperature in his unit. The heat also was turned on at a certain date and off at a certain date. I am not from his generation. I could not cope with being unable to control the temperature in my condo.

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  11. to adjust the temperature you turn on a blower fan, or open a window…

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  12. I don’t want to have to manually adjust the temperature when the technology exists to make the temperature exactly as I want it.

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  13. So manually entering in a temperature into an iphone is much easier than rotating a dial?

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  14. No. Sonies was implying that in some of these old buildings you have to open window or change the blower speed (like in an olden times car) to “set” the temperature. Even an old style thermostat would be OK. This nonsense where you can’t set your own temperature is not acceptable.

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  15. Heating is electric Vs Boiler fed

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