Love City Views? This 1-Bedroom Has Them at 1230 N. State Parkway in the Gold Coast

1230 n state parkway #1

This 1-bedroom in 1230 N. State Parkway in the Gold Coast came on the market in November 2017.

This building is a full service building built in 1980.

It has 92 units and a parking garage along with a handful of “guest” parking spaces behind the building in the alley.

This unit is a corner unit on the 26th floor with south and west views that clears all of the other buildings nearby.

It also has a 14 foot balcony with a peak of lake views if you look east.

At 1000 square feet, this is a big 1-bedroom that has space for a dining room table.

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

The bathrooms have granite countertops.

It appears to have carpet in the living/dining and bedroom.

The unit also has the features buyers look for including central air, which is included in the HOA, a rare side-by-side washer/dryer and garage parking, which is included in the price.

If you look through the pictures, you can see that the south view includes most of downtown including a gorgeous view of the John Hancock.

Are buyers willing to pay top price for a breathtaking city, but not lake, view?

How much does view matter?

1230 n state parkway #2

Linda Marcus at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.

Unit #26D: 1 bedroom, 1.5 baths, 1000 square feet

  • Sold in April 1994 for $162,000 (included the parking)
  • Sold in December 2000 for $302,500 (included the parking)
  • Sold in August 2001 for $350,000 (included the parking)
  • Sold in September 2012 for $345,000 (included the parking)
  • Assessments of $798 a month (includes heat, a/c, doorman, cable, exercise room, lawn care, scavenger, snow removal)
  • Taxes of $6613
  • Central Air
  • In-unit side-by-side washer/dryer
  • 14-foot balcony
  • South and West unobstructed views
  • Bedroom: 13×13
  • Laundry room: 7×3
  • Foyer: 11×7

 

 

 

 

16 Responses to “Love City Views? This 1-Bedroom Has Them at 1230 N. State Parkway in the Gold Coast”

  1. This is a bargain with the included parking.
    Compare this unit and price to recent sales in this building and you’ll see the value.
    Personally,I prefer city views: much more interesting and dramatic than lake views

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    Rating: -2 (from 6 votes)
  2. It’s really great that they are including the parking at this price. I like this place. The finishes are just OK, but the new owner can upgrade to his/her taste or leave as is since they aren’t horrible. This seems like it would be a good deal for an older person who will stay in place for awhile.

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    Rating: +1 (from 7 votes)
  3. Awesome building in great location. Wont last long.

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    Rating: 0 (from 4 votes)
  4. YAAAAZZZZZZZZZZZ!!!!
    PARKING LOLZ!!!!!!!!
    GO VIKINGS!!!!!!!

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    Rating: 0 (from 10 votes)
  5. What’s the asking price? …clicking thru… $384,500

    So, this is a 1 bedroom that will cost about $3 psf (aka, luxury rental pricing), after 20% down. And more likely than not, most of the tax advantage of the mortgage interest will be going away for a typical buyer.

    So, seems expensive to me, unless you really think you’ll keep it for 15+ years. Good in-town for someone, no doubt.

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    Rating: +2 (from 4 votes)
  6. $384M would be reasonable if the unit had a substantial remodel. This should be listed under $330M

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  7. Wow, someone hates positive comments about the unit AND negative comments.

    I’ll note that, at ask, this place is going to be 100bp below CPI since 2000. And worse since 2001.

    Apropos of the other thread, VFINX (picked bc it came up first) was at 126 in Dec-00, and is at 245 now, which is a lot better than CPI-100. But it dropped to 68 in between, which is a lot worse than CPI-100. And you can’t live in an index fund.

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  8. I agree that city views are much more interesting then lake views..especially if your still working and will be home most in teh evening..( a friend had a place with great lake views…but in the winter at night you just look into a black void…) This unit does need work but it looks like a good bargain with the parking included.

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  9. Pretty good place for the money, especially considering the views and location.

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  10. Regarding city views vs. lake views:

    I work on the 84th floor of the Sears Tower, and shift from office to office on that floor. Sometimes I look east over downtown to the lake, other times straight west or southwest.

    I can’t decide for the life of me which I like better. The lake is so relaxing and beautiful, but it sometimes gets dull. The city view, where I can watch trains pulling in, boats on the river, and the streets stretching to the horizon, might be my favorite.

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  11. “$384M would be reasonable if the unit had a substantial remodel. This should be listed under $330M”

    I agree – iirc cc featured #14D in this bldg two years ago. It’s same layout 12 floors lower in near original condition & sold @ $292K w/pkg. And fwiw #10A’s available here, a 1215 sf 2/2 in similar condition asking $389,900 plus $39,900 for pkg.

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  12. The view from the Hancock building beats the view from the Sears Tower. To me, it’s not a lake view unless it’s close to the lake. I agree that the lake is boring at night, but the lake front is not boring at night.

    Especially on sunny summer days, watching the boats, the beaches, and the water beats a city view. At night, the lake front lights beats seeing endless rows of city streetlights.

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  13. In this building, anything on the south side below the 21 st floor looks at the building to the south. Big effect on price

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    Rating: +1 (from 3 votes)
  14. I have a lake view and to me, it’s like a piece of art. Anyone that says it’s boring is stupid. It’s like saying Monets haystacks are boring. If you think that, then go move to Schaumburg and call it a day. And make sure to buy a place that views Woodfield Mall. That should be exciting enough for you.

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    Rating: -4 (from 18 votes)
  15. Tax benefits aren’t going away if the tax bill allows for the new buyer to deduct interest on mortgages up to 500K or 1M and the buyer can deduct 10K in property taxes.  It lessens the tax advantages, but doesn’t negate all of them.

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  16. “It lessens the tax advantages, but doesn’t negate all of them.”

    AND the increase in the standard deduction AND the elimination of many other deductions. This place is going to generate 1st year deduction of about $16k. The standard deduction is going up to $12k and state income tax will no longer be deductible.

    So, for a single making $100k (bc it’s easy), under the current law, they’d deduct:

    $5k SIT, $16k for condo, compared to a $6k standard deduction, meaning ~90% of the interest and taxes is deductible. (if a couple, with $12k SD, then still ~half is deductible)

    under new law (approximate, since there are 2 bills), they’d deduct:

    $16k for condo, compared to a $12k standard deduction, meaning ~25% of the interest and taxes is deductible. (if a couple, with $24k SD, then no itemizing)

    yeahyeahyeah, they’d have some charitable deductions and other stuff maybe under both scenarios, but it is *clearly* a change in teh incentives.

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