2-Bedroom Duplex Penthouse is Back with a Renovated Kitchen: 201 E. Chestnut in Streeterville
This 2-bedroom duplex up penthouse in 201 E. Chestnut in Streeterville came on the market in February 2025.
201 E. Chestnut was built in 1969 and has 120 units. It’s a full service building with a doorman, an exercise room, a bike room and an indoor pool.
There is valet rental parking available.
If this unit looks familiar, that’s because we last chattered about it in June 2020. If you recall, this penthouse has a rare wood burning fireplace.
Back in 2020, many of you noted that the unit needed “significant updates.”
See our chatter here.
The unit finally sold in 2023.
Was someone reading our chatter? It has come back on the market “reimagined” with “over $180,000 in upgrades.”
If you recall, this penthouse has 17 foot ceilings with a wall of windows which looks north and east and has lake views.
The parquet floors on the main floor have been “refinished.” There is new carpet on the second floor.
The kitchen has been “completely renovated” with all new Bertazzoni appliances, porcelain slab countertops, custom cabinetry in wood and cream, and a breakfast bar with seating for three.
There is no dining room.
However there is a “stately” wood burning fireplace in the living room.
The second bedroom, with french doors, is on the main floor and has an en suite bathroom, along with a private 8×11 terrace.
The primary suite is on the second floor. The listing says the en suite bathroom is “fully renovated.”
The unit also has a lofted space overlooking the living room that could be used as a den or office.
The unit has the features that buyers look for including central air, washer/dryer in the unit and garage parking is available for $240 a month.
201 E. Chestnut is near the Mag Mile, shops and restaurants of the Gold Coast, the John Hancock, Oak Street Beach and numerous bus lines.
This unit sold in December 2023 for $560,000 and was renovated. It came back on the market in February 2025 for $749,000, and has been reduced $10,000.
Will they get the premium with the kitchen and bathroom renovations?
Maureen Mobarak and Emily Sachs Wong at @properties Christie’s have the listing. See the pictures and floor plan here.
Unit #24C: 2 bedrooms, 2 baths, 1570 square feet, duplex up
- Sold in September 1985 for $230,000 (per Redfin)
- Sold in June 2005 for $575,000
- Sold in December 2023 for $560,000 (per Redfin)
- Originally listed in February 2025 for $749,000
- Reduced
- Currently listed at $739,000
- Assessments are now $2062 a month (they were $1514 a month in June 2020) (includes doorman, exercise room, indoor pool, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes are now $13,584 (they were $11,410 in June 2020)
- Central Air
- Washer/dryer in the unit
- Valet parking available for $240 a month (it was $185 a month in June 2020)
- Wood burning fireplace
- Bedroom #1: 16×13 (second floor)
- Bedroom #2: 17×11 (main floor)
- Living room: 19×18 (main floor)
- Kitchen: 14×11 (main floor)
- Den: 13×11 (second floor)
- Walk-in-closet: 5×7 (main floor)
- Terrace: 11×8 (main floor)
Massive improvement. Don’t care for most of the choices, but maybe I’m the outlier.
This one: https://www.redfin.com/IL/Chicago/201-E-Chestnut-St-60611/unit-24A/home/14117565
appears to be the highest closed sale in the building (and also 2d and 3d highest). And is also a lot larger.
surprised they kept that fireplace surround during the renovation. is that a retro detail that some most would like?
The HOA on the 1 bedrooms are a much better deal from a HOA to square footage ratio.
https://www.redfin.com/IL/Chicago/201-E-Chestnut-St-60611/unit-21F/home/14117237
82 cents a square foot.
another one
https://www.redfin.com/IL/Chicago/201-E-Chestnut-St-60611/unit-19D/home/14117049
91 cents a square foot.
https://www.redfin.com/IL/Chicago/201-E-Chestnut-St-60611/unit-12E/home/14117110
is asking 2800 a month in rent
My understanding is that this building will be undergoing a window replacement project soon. Right now all windows are single pane.
Ok, so these are always kooky but really unique for the location/price – Yes higher hoas etc but you don’t see thee two story living room downtown very often in this price range
Very unique. I prefer the south facing penthouses, but those would be much hotter.
The kitchen is gorgeous. I wish they would have painted the loft built-ins though.
It’s really hard for me to run this blog right now. Properties come on the market and don’t even last a day. Inventory remains at record low levels. I will try to do some more expensive properties as those seem to be lingering more than others.
But take a look at this 2/1.5 duplex in the Clinton Lofts for $399,995. On the market just one day.
https://www.redfin.com/IL/Chicago/226-N-Clinton-St-60661/unit-707/home/12801237
I have also never seen market conditions like this in the 18 years I have run this blog.
No inventory. Quick sales. Multiple offers. If you are looking, you’d better go within 24 hours it is listed, unless the agent has the “open house and best offers” listed on the listing.
Is Chicago real estate about to finally break out of its 20 year bust?
On a per square footage basis, it now costs more to rent than to own downtown.
“On a per square footage basis, it now costs more to rent than to own downtown.”
hmmm…sure on a HMAM basis, but after accounting for entrance and exit costs, and imputed interest on the DP? (you don’t have to answer; it’s rhetorical)
Any all-things-equal spread is almost certainly worth it to have the put right now.
A shame so many cheap, ugly buildings were put up in the 60’s and 70’s all around town. Really trashed the landscape. Not that it got much better after that, though.
Interesting observation, Sabrina, about units being scarce and going fast. I don’t doubt it. But the few buildings I regularly monitor, like 175 E. Delaware, seem to have the same units available month after month. I wonder if they’re priced too high.
Here’s another listing that tells you what is going on out there. Vintage 2/1 in Lincoln Park. NO PARKING.
Sold in November 2020 for $387,500.
Listed in January 2025 for $475,000. Closed in March 2025 for $525,000.
Finally- Chicago housing is having its time. First time in 20 years. We’re back!
https://www.redfin.com/IL/Chicago/2011-N-Racine-Ave-60614/unit-3/home/13351643
I’ll have a new post tomorrow. People are listing new things by the middle of the week so we can chatter about them. For the foreseeable future I may be end of the week loaded with posts.
Here’s one that was listed in January. I watched this one go up and it’s a bit underwhelming for the price. The main level living room is a bit tight due to the front door. The lower level bedrooms are not generously sized, as expected with Chicago lots. There is a dog washing station for those who are looking for that.
Unit 2 is contingent
https://www.redfin.com/IL/Chicago/1853-N-Maud-Ave-60614/unit-1/home/194579148
I know, it’s a different market for this vs. 2011 n Racine.
Re 2011 N Racine – kudos to the seller but that bathroom situation for the price to tough. 1 small bathroom with a pedestal sink just wouldn’t cut it.
re 2011 Racine:
Seemingly the only previous CC feaure in that assocation is this one:
https://cribchatter.com/dreaming-of-your-own-turret-a-2-bedroom-at-1170-w-armitage-in-lincoln-park/
which eventually sold in Dec-15 for $482, and again in Mar-22 for $520k.
The 2011 unit looks nice, but really feel like that’s an overpay, even acknowledging how there has been n.o.t.h.i.n.g. avaialbe in that area under $600k. I look at this one:
https://www.redfin.com/IL/Chicago/1944-N-Seminary-Ave-60614/unit-3/home/13351801
and just don’t see how 10% more for almost exactly the same thing but with a much much worse layout makes sense.
David says
“Ok, so these are always kooky but really unique for the location/price – Yes higher hoas etc but you don’t see thee two story living room downtown very often in this price range”
Yes I agree with you that duplex living is more unusual in mid rise high rises.
My issue is two fold
unique places means a less fungible product because of a smaller buyer pool.
and
I have a feeling that there is a higher premium paid actually for more living space all on one floor rather than being split to two floors
given my biases I wouldn’t buy the duplexes here but only the regular units