1 Year Later and Still Selling in a Luxury High Rise: 50 E. Chestnut in the Gold Coast
We last chattered about this 3-bedroom unit at 50 E. Chestnut in the Gold Coast a year ago, in January 2009.
See our prior chatter here.
At the time, it had come on the market only 9 months after it was purchased.
50 E. Chestnut is an exclusive new construction high rise with only 1 unit per floor. The units have luxury finishes.
There are currently 6 other units on the market (out of a total of 34 in the building). Those appear to be from the developer.
A year ago, the unit was listed for $508,000 more than the purchase price only 9 months before. Since then, the price has been reduced by $325,000.
Tricia Fox at Keller Williams Gold Coast still has the listing. See the pictures and listing here.
Unit #1001: 3 bedrooms, 3.5 baths, 2 car parking, 3904 square feet
- Sold in May 2008 for $2.692 million
- Was listed in January 2009 for $3.2 million
- Reduced several times
- Currently listed at $2.875 million (parking extra)
- Assessments of $1835 a month (includes doorman)
- Taxes are “new”
Wow. Look at the indifference. Not a single comment.
Whats the best way to get 1.5 million dollars?!
Like an ostrich buy a three bedroom house for 2.7MM two months after the Bear Stearns collapse.
I think this is a first for Crib Chatter. A property NO ONE cares about.
I guess that’s the last time I write about this building.
Yeah, that’s a whole mess of ‘meh’ going on there.
or it could be the price…not many of us even think about properties in the 3 mil dollar range.
Who wants to be the next Rex Grossman. Boy, did he take a hit on the Trump Tower property he had.
“Who wants to be the next Rex Grossman.”
Pick me, pick me!! I’ll take a few mil a year to hold a clipboard
why in the hell would anyone buy a place without a decent view for 3.2 million
Also, I yelled at Rex Grossman the other day, his dad almost hit me and my dogs as I was crossing the street with his damn truck. I started screaming and cussing and lo and behold Sexy Rexy was in the passenger side, the second I saw that I screamed “you piece of shit Rex fuck you!!!” he waved… good stuff.
I know we’re not suppose to talk about decor but that and the finish selections really ruin this unit. unit 3001 is a resale and it shows so much nicer. sure it’s a million more and 20 floors higher but it just goes to show how decor/finish selection can change a unit for the better. also, i believe all the units in the building are the same floor plan/size.
http://www.redfin.com/IL/Chicago/50-W-Chestnut-St-60610/unit-3001/home/21812271
I kind of chuckled last night when I didn’t see any posts about the place. Perhaps I’m a simpleton, but that seems like a lot of money for what it is. With all due respect, if I owned the joint in its current state, I’d hire a professional stager.
Okay how ’bout this:
narrative sez “2 Prime Parking Spaces!!”, but parking is “extra”
Huh?
“Baths boast limestone flooring with controlled radiant heat underneath”
Is there such a thing as *un*controlled radiant heat? And would the heating element be located somewhere other than “underneath”?
This one goes 40% under the origional purchase price or it sits for 5 years
“Is there such a thing as *un*controlled radiant heat?”
yes after a night of too many beers and taco burrito king on the way home.
oh gosh sorry about that comment i am slap happy today.
“Is there such a thing as *un*controlled radiant heat?”
wood burning fireplace?
marco, the finishes are very comparable, imho. When those two units are vacant they will seem very much alike. The “decor” and furniture on the higher priced unit goes with the seller.
The finishes suck…they are standard developer finishes…relatively low quality and seen in much lower priced units. The floorboards are basic. The cabinets don’t even look like real wood…semi custom at best (they should be custom at this price point) and the slab is too big for the cabinets in the island….terrible finishes.
stil listed now down to 2.5mil