24% Price Reduction on Vintage Lake Shore Drive Condo
Built in 1925, the 47 unit Benjamin Marshall building at 1200 N. Lake Shore Drive in the Gold Coast exudes old money. It is actually a condominium building, not a co-op, which is unusual for a building of that period. It went condo in 1972.
A two bedroom, three bath unit on the 4th floor recently had a price reduction. It has been on the market for months. The Craigslist ad touts it as an “insane deal.”
Is it?
Unit #401: 2 bedrooms, 3 baths, family room, central air, in-unit washer/dryer, 2400 square feet
- Sold in February 2000 for $825,000
- Sold in July 2001 for $1.1 million
- Was originally listed for $1,699,000
- Now listed for $1,299,000 (or 24% off the original list price)
- No parking- but rental parking nearby
It looks like it could use some updating.
Home Discovery has the listing.
i’ve been seeing more and more of these “old lady” condos ticking away in the semi-upper bracket. Looks like the owners are either dying off, being shipped to the nursing homes or moving to AZ.
Some of the older co-ops and vintage condos suffer from what you described. But I’m also seeing quite a few with nurseries (in use) so maybe it’s just that they don’t have any design sense (or don’t redecorate when they move in.)