With all the rush to buy “new” construction, what about a building that has been around for four years?
I’ve chattered about 530 N. Lake Shore Drive in Streeterville before but I thought it was time to revisit it. Many of the units have lake views.
Some stats for the building:
- 12 units sold in 2006
- 13 units sold in 2007
- 18 units currently on the market
I chattered about two units last October. Neither one has sold.
For Unit #1801, it’s interesting to note that the furniture has been moved around a bit (with the diningroom table now in a different location) from last fall.
Unit #1801: 3 bedroom, 3 baths, 2772 square feet, two terraces
- Originally listed for $1.397 million
- Reduced to $1.249 million in October 2007
- Just re-listed for $1.199 million (includes one parking space)
- Originally sold for $1.044 million in December 2003
- Assessments of $1,264 a month
- Jennifer Ames at Coldwell Banker has the listing
Unit #2003: 2 bedroom, 2 baths, about 1300 square feet, parking included
- Listed for $649,000 in October 2007
- Reduced and now listed at $629,000
- Originally sold for $513,500 in January 2004
- Assessments of $608 a month
- Classic Realty Group, Inc. has the listing
There are some large one bedroom units in the building- some with very nice city and lake views.
But many of the units don’t have hardwood floors and they have outdated white appliances.
Unit #2906: 1 bedroom, 1.5 baths, 1045 square feet, penthouse unit
- Sold in June 2004 for $469,500
- Currently listed for $549,000 plus $50k for parking
- Assessments of $489 a month
- @Properties has the listing
The cheapest unit in the building is this:
Unit #902: 1 bedroom, 1.5 baths, 1100 square feet
- Sold in April 2004 for $288,500
- Currently listed for $459,900 (parking included)
- Assessments are $401 a month
- Urban Real Estate has the listing
The listing states:
PROFESSIONALLY FINISHED LIKE BRAND NEW 1 BEDRM 1 1/2 BATH 1100 SQ.FT CONDO ON BEAUTIFUL LAKE SHORE DRIVE. KITCHEN HAS STAINLESS STEEL APPLIANCES. LIVING RM HAS FIREPLACE/MANTEL SLIDING DOORS LEADING ONTO BALCONY WHICH OFFERS FANTASTIC CITY VIEWS.
CURRENTLY RENTED AT $1700.00 FOR PERFECT ARM CHAIR INVESTMENT. INVESTOR MAKE OFFER WON’T LAST. PARKING INCLUDED & TENANT IN PLACE.
Perfect arm chair investment at $1700 a month?
There are no pictures of the interior of the unit, sorry.