Want to Rent Something Unique? 215 E. Chestnut in the Gold Coast
I don’t cover many rental units, but I couldn’t resist this penthouse unit at 215 E. Chestnut in the Gold Coast.
They just don’t build them like this anymore.
This 1920s top floor vintage unit in this apartment building has vaulted wood beamed ceilings, a stone fire place and arched door ways.
Those are french doors going out to the private terrace with gas grill.
The kitchen and baths have been renovated to today’s standards with marble and stone. There is also an in-unit washer/dryer and parking.
Keller Williams Gold Coast has the rental listing. See the pictures here.
#PH: 4 bedrooms, 4.5 baths, 3900 square feet, duplex
- Currently listed for $9,000 a month (heat and air included)
- Parking included
- Hardwood floors
- In-unit washer/dryer
- Bedroom #1: 17×17
- Bedroom #2: 9×14
- Bedroom #3: 9×14 (second floor)
- Bedroom #4: 9×14 (second floor)
Want!
To buy something like this would probably cost way more than $9,000/month, so if I was that kind of rich, I would just rent awesome places like this and squirrel away the rest of my wealth in other investments.
Freaking awesome place. There’s monthly parking at the Hancock right?
People that live like this will have their property confiscated and burned at the stake when the masses come with their pitchforks and torches.
1 bedroom rents are reasonable. I’m going to rent there when I sell my studio condo.
Swanky. I would prefer a lower chandelier height to facilitate swinging during my debacherous east egg-west egg dinner parties.
Imagine throwing a holiday party there. That would be some Batman style shit
We all need to learn to want what we have.
Wow. Gorgeous.
Kind of a crappy building, though
“We all need to learn to want what we have.”
Then we all may as well quit working (and, esp., buying houses), because that involves wanting something we don’t have yet.
I can’t even fathom spending 9k a month on rent… insane! I’m sure its a really nice place but I can’t get over the monthly nut!
sorry guys, i just don’t think this is that cool for $9000/mo. just not my style i guess
Im just a meager landlord of humble apartment that rent for 1/9 to 1/7th of this palace. I’m wondering if anyone knows how the rental application/vetting work at this kind of price point. Whats the security deposit on this place? is one month still applicable here, lease terms? just one year, are there concesions. I tell my tenants they can’t paint the wall, but for those with $9k per month, I would assume that they would want to do some (porfessional) decorating. Just wanted some insight on how the other 2% live like.
Tom — at $9k/month, I have a feeling that’s more like the other 0.5% or something like that. Fabulous place.
I have always found this segment of the market weird outside of NY. It is pretty common for people to have absurd rents (even more) like this in NY, but Chicago?
Who pays $9k in rent? That is just retarded. I would think anyone that can afford $9 stacks on rent probably already owns a place. I can’t see a C Level executive who is relocating living in this place either even if the company is paying for it. In addition, anyone so egotistical that they wouldn’t rent a cheaper temporary space that isn’t so over the top probably wouldn’t dig the grandma vintage style of this place. I would guess most of these people would be athletes and entertainers which I cannot see living in this place.
“Then we all may as well quit working (and, esp., buying houses), because that involves wanting something we don’t have yet.”
I’m a big believer in working at something that you really find fulfilling and living below your means. And yeah, that means smaller, cheaper houses. My father grew up in a 2 bedroom house with 11 siblings and now lives in a 5,000 sq ft house with just my mother. He’s not any happier and fondly looks back upon the good old days. See hedonic adaptation: http://en.wikipedia.org/wiki/Hedonic_adaptation
Sheesh Gary….live a little, dial down (er up?) the dourness. This isn’t life or death. It’s just some people in the internets using their imagination.
Russ – I agree…surely someone able to pay for this place probably could own it or other properties. And probably does. I could see living and renting this place as your home base, but owning a sweet Lakefront/Oceanfront property or great swaths a scenic land elsewhere a retreat/vacation home. Preferring to tie up money into the vacation property/scenic land as a better investment than the 3,900 sqft apartment.
Forget about the 2% or even the 0.5% – what about 4 guys with decent jobs and want to live like Vincent Chase & his crew? With rent being only $2,250 a head, I could justify the premium over what you’d pay in other places in the neighborhood for a one bedroom unit. You still get your own bathroom, a patio & a sick area to entertain? Sign me up.
> I’m a big believer in working at something that you really find fulfilling and living below your means.
If I make $500,000 per year income, than this place is below my means and I am being frugal.
“what about 4 guys with decent jobs and want to live like Vincent Chase & his crew”
How much would insurance against their damage (intentional or accidental) cost? b/c, I wouldn’t want a cash damage deposit, I’d want insurance + $$ for the deductible.
>> I’m a big believer in working at something that you really find fulfilling and living below your means.
>If I make $500,000 per year income, than this place is below my means and I am being frugal.
And yes, you can work at something that you find fulling that pays this much. Just depends on what you are interested in.
I’d be willing to rent it for one day for $300.
“If I make $500,000 per year income”
But you don’t,* so you shouldn’t want to make that much. Wanting to make more money is just striving which will make you unhappy.
And Gary makes his money helping people buy houses/condos–something they don’t already have and that he feels they therefore should not want. He’s an instrumentality of their unhappiness.
*apologies if you do, but then my snarl doesn’t work as well.
“My father grew up in a 2 bedroom house with 11 siblings and now lives in a 5,000 sq ft house with just my mother. He’s not any happier and fondly looks back upon the good old days. See hedonic adaptation:”
I wonder…. did you sell him that 5000 sqft house for a nice commission?
hopefully D wade or Lbj will sign a long term lease here. there’s lots of places around here with monthly parking
as far as 4 dudes renting it at 2250 each. 2k a month gets you a 2 bedroom with lake views in those mies van der rohe places down the street. this place is cooler though, esp if you are a vampire.
Where is robin leech on this one?
on the split the rent front. i recently saw a 5BR 3-story SFH in Old Town. developer was trying to sell but in the meantime he rented it out. i think 6 recent college grads were living there. 5 BRs + a loft converted into a BR. only saw 3 of them on the couch watching the U Mich football game when I did the walk-through. but they had basically trashed this place – damage to walls, ceiling, and it needed a MAJOR cleaning (empty bottles, dust/dirt everywhere, etc.).
i think the $9 per month market is odd. i think it’s mostly high paid short-timers (e.g. executive doing a limited time rotation in Chicago) or high-paid transplants with a family temporarily renting until they find a house.
“ME on December 3rd, 2009 at 10:29 am
Sheesh Gary….live a little, dial down (er up?) the dourness. This isn’t life or death. It’s just some people in the internets using their imagination.”
Exactly. I think the majority of the people here – including myself – who like this place, like it in the sense of “wow, that’d be a fat pad to live in.” Not so much the “my life sucks b/c I can’t afford a fat pad like that to live in.” This is the stuff of daydreams, you know?
“Pets allowed: Yes.” Shock!
Besides athletes and executives, who rents a place like this? Even if I was Oprah-rich, I don’t think I would fork over 9k a month for something that will never ever be mine.
In the late nineties I knew a guy who worked for a hot telecom (not particularly high level) who was given a $6,000-a-month rent allowance. This was back when the dollar was worth something, even in Rome where he was seconded. The townhome he rented came with its own full-time staff.
“Even if I was Oprah-rich, I don’t think I would fork over 9k a month for something that will never ever be mine”
If I were Oprah-rich, I’d probably spend that much every month on hotel rooms.
And netjets would run me that much (almost) everytime I’d fly somewhere. No point buying your own G4.
Sorry folks. Didn’t mean to rain on the parade here. I was writing that with a bit of a smirk on my face. I just find it amusing how lavishly some people live – with no gain.
To answer a few questions: 1) I never claimed that buying a house would make you unhappy – just that buying a bigger one won’t make you much happier unless of course you are currently living in a two bedroom loft with a kid. 2) My father lives in Dallas, so no, I didn’t sell him the house. They built it. It was my mother’s idea. I find my father’s musings enlightening.
“My father lives in Dallas” “in a 5,000 sq ft house”
So, he’s got the small house on the block, eh?
“buying a bigger one won’t make you much happier unless of course you are currently living in a two bedroom loft with a kid.”
Ain’t that the truth!
Do you Get a butler with purchase?
We live in a 3 bedroom loft with a daughter and love it! She is young but we are looking forward to the day when she learns to enjoy the one level crawl pad and easy access to rough sawed beams for slivers. Life is good!
Dont think about 4 guys pretending to be Vinny Chase and his crew. Think actual movie stars or big ego directors. When the studio is paying 5MM for a star to shoot for four months in Chicago what is 9K per month plus another 10-15K to rent appropriate furniture. What does it cost for a 30 day stay at the Penninsula Suite?
The owner will be able to brag about how Pauly Shore or Carrot Top once lived here. That should make the value soar when it is time to sell.
Even if they only rent it out for 5 months a year it should cover most of the taxes and assesments….I hope!
I know this is a very old post – but I find this building (and the penthouse unit in particular) to be one of the gold coast’s gems. Interestingly, the owner (yes, single owner of the entire building) seems to be very proactive in tastefully restoring the place. A great new martini/wine bar is set to open in about 6 months (I think the name is “Grand Cru”) that is going to prove to be a great swanky neighborhood lounge. I use this as an example because when you see continued improvements actively being made in neighborhoods such as this, you know that these are the neighborhoods that are more resistant to price declines.
This unit is coming up for rent again – I think it is one of the most beautiful rentals in chicago and one of the few featured on cribchatter. I actually think they are going to be able to get their rent. There is a GREAT swanky martini-wine bar/lounge being built on the first floor (“Grand Cru” – probably opening early summer after an extensive build out) and the neighborhood continues to hold its own.
check out the pictures:
http://chicago.craigslist.org/chc/apa/2574268947.html