Vintage Gold Coast Building Shows the Tale of the Housing Boom
Vintage buildings with parking are always prized, especially in the Gold Coast, where parking is a premium. It is the parking and location which make The Chandler at 1429 N. Dearborn so popular.
Built in 1890, the four story, 8 unit building usually sells quickly. Units in the building have seen a steady rise in apprecation over the past 8 years. Question now is: are prices simply too high?
One of the top floor units is currently on the market:
Unit #4N: 2 bedrooms, 2 baths, 1700 square feet
- Sold in August 2003 for $575,000
- Sold in January 2004 for $642,500
- Currently listed for $725,000
- One outdoor parking space included
- Teresa Costantini at Koenig & Strey has the listing
Another similarly sized unit, located on the first floor, was recently on the market:
Unit #1N: 2 bedrooms, 2 baths, parking included
- Sold in March 1999 for $369,400
- Sold in March 2000 for $460,000
- Listed in June for $679,900
- Sold at the end of July 2007 for $657,500
Vintage is nice. The Gold Coast is lovely. But over $700,000 for a two bedroom, two bath?
We’ll see.