2-Bedroom Listed for $160K Under the 2005 Price in the Gold Coast: 39 E. Schiller
I could have sworn we had chattered about this 2-bedroom duplex unit at 39 E. Schiller in the Gold Coast. But a quick check of the archives showed that we haven’t.
It’s been on the market since October 2009 and is now listed for $160,000 under the 2005 purchase price.
At 2400 square feet, the listing says it has a fireplace and two balconies.
There are also hardwood floors.
The two bedrooms appear to be on different floors with the master bedroom on the second level.
It has central air and an in-unit washer/dryer but doesn’t appear to have deeded parking.
Is this a deal for the square footage in this location?
Rick Sherman at Realestate.com has the listing. See the pictures here.
Unit #1W: 2 bedrooms, 3.5 baths, 2400 square feet, duplex
- Sold in May 1999 for $510,000
- Sold in August 2002 for $662,500
- Sold in March 2005 for $710,000
- Originally listed in October 2009 for $680,000
- Lis pendens foreclosure filed in November 2009
- Reduced several times
- Currently listed for $550,000
- Assessments of $875 a month (includes cable and special assessment)
- Taxes of $7196
- Central Air
- Washer/Dryer in the unit
- No parking
- Bedroom #1: 26×14 (second level)
- Bedroom #2: 20×14 (main level)
The first thing I noticed is how can you sell a half million dollar property, with already what’s out there, and have such low quality pictures? The pictures make this place look like shots of a basement and it’s messy.
Do any units in this building have parking?
I love this place like a fat kid loves cake.
O M G.
This place is going to be worth at least 1.3mil inside of 5 years.
FWIW, this is a short sale, so who knows if the bank would even accept $550k.
This is a pretty amazing unit, but pales in comparison to 4W which was on the market a couple of years ago – when I saw the address I instantly remembered the unit. Here’s a link to the Picture Plan – “http://www.smartfloorplan.com/il/v281447”. As I recall, it was on the market for about 1.3mil at the time, so Chicagobull may not be that far off the mark…(if they put in comparable finishes, add 2 decks and jump into a time machine)
It looks like 4W is a short sale as well – for $1.5 million
http://www.redfin.com/IL/Chicago/39-E-Schiller-St-60610/unit-8/home/14124684
I remember walking by this place and watching the new exterior (replace the stone facade???) being put up maybe as recently as 2 years ago
If you look at the two links, you can compare the exterior with or without the beige stone.
This place has all the charm of a 1970s suburban split-level ranch. Or maybe the pictures are just terrble.
Why does one need 3.5 baths in a 2-bedroom home?
Why would you need 3.5 bathrooms with only 2 bedrooms? Seems excessive, no???
Ah – just saw his/ hers in master…. 1 additional and .5 in living area – ok makes sense.
I love this place. Would love to get my paws on it and redecorate it.
Sounds like a gift at this price, wish I could afford it.
What would parking cost near this place? $40k for a garage spot? At under $600K (with parking) I think it would be a good deal.
Where is there parking you can buy in that area?
Why does this place look like a suburban dungeon? Can’t these people get their hands on iPhoto or Photoshop? I walked by this unit, and there’s no privacy–everyone on the street can peer right into your living room. Lovely neighborhood, though.
I toured this asset last fall when it first hit the market. It is an absolute disaster. 90% of the natural light is obstructed by the building to the west as all windows other than the front exposure are orientated west. The finishes are severely dated. The master bedroom is in close to shell condition and is tucked away on the second floor in the back of the building. There is a back stairwell where people keep their garbage directly adjacent to the second floor bedroom. There is probably a price that makes sense here, just from a price per pound standpoint in the Gold Coast, but $550k is not it…