3-Bedrooms Listed Under 2005 Price at The Fordham at 25 E. Superior in River North
As we’ve chattered about several times, stresses have found their way even into the most prestigious buildings in the city.
This 3-bedroom unit just came on the market being sold “as-is” in The Fordham, at 25 E. Superior, one of the more prestigious condo buildings in the River North/Cathedral District area.
It is listed $35,100 under the 2005 purchase price.
Is this even much of a steal?
Helen Oliveri at Keller Williams Realty Partners has the listing. See the pictures here.
Unit #3204: 3 bedrooms, 3 baths, 1700+ square feet, 2 car parking (included in price)
- Sold in March 2005 for $900,000
- Currently listed as “as-is” for $864,900
- Assessments of $1208 a month
- Taxes of $11,609
- Central Air
- Washer/Dryer in the unit
Well I have said before. I had the misfortune of living in this building for a short time. Awful Awful Awful construction, leaks everywhere, the entire facade is cracking in a way that no building this new should, and the neighbors were predominately some of the most unpleasant people you could imagine.
I loved the physical location but these few blocks are also extremely sterile looking, even by Streeterville standards.
$510 per square foot – I agree that this isn’t a steal.
Ze Carioca’s comments are very good to know.
25 E. Superior is considered Streeterville?
Out of curiousity, what does it mean when a building is “prestigious”
25 E. Superior is not technically Streeterville (by Redfin standards at least)
Streeter is Michigan and East.
As I said before, this is my favorite location in the city.
I just don’t get how this condo was priced at $900,000…and further how the listing can say the unit has been ‘updated’. The kitchen and bath are basic set ups that I install in most of my rehabs and they are not upper end materials. I suppose like much of the other properties that are in this price range and above, the only thing it has going for it is the location.
***25 E. Superior is considered Streeterville?***
old school definition: streeterville = east of Michigan
real estate agent’s definition: streeterville = 60611.
You can change the interior of a place, but you can’t change the location!
To add to some of Ze Carioca’s comments… I live across the street from this building and my window looks out to the Fordham. The entire facade is crumbling and huge chunks from the corner of every balcony have broken off. Just looks like a terrible construction job. I just wonder how many pedestrians have got hit by falling debris.
And also at this price point + assessments + poor construction (according to Ze) I really don’t think it will sell.
At the risk of saying something I may be wrong about this since I’m not a Chicago resident and getting flamed, but maybe the city was right in requiring periodic facade inspections of buildings over a certain height. We’ve just finished one at the Grand Orleans. There didn’t seem to be any major problems.
Why can’t anyone take proper photos. Look at the balcony on the last shot, why can’t they move that crap out of the shot.
This Realtor is junk!
Maybe I’m cheap, but I wouldn’t call it a steal.
I had a unit there and I’m glad I’m out. I’m not saying it wasn’t a good investment for those who bought when it went to market, but as Ze Carioca and others have pointed out, the facade issues, etc. would have me pretty upset.
My recommendation for a quick sale, knock $150K off the ask.
$865K is astounding! this screams mediocrity.
780k is my guess on this one.
I love the location but the unit itself depresses me. Reminds me of an American Invesco conversion.
Seems to me like limestone would crumble because it is a pourus stone and will crack with the freezing and thawing of water in its groves. The Aon Centre probably switched from Marble to Granite for this reason. Seems like a design issue with the architect.
http://www.emporis.com/en/wm/bu/?id=aoncenter-chicago-il-usa
why are the fordham (and related pinnacle) bldg considered prestigious. i’ve heard that here as well as from a realtor while looking for a place to live. on seeing the pinnacle, i was very underwhelmed by the product even outside the context of the price. based on the pictures, i’d say the same about this building. and i get this a great location for many (including myself), but that has nothing to do with the ‘prestige’ as many others in the area don’t get that label.
and Ze, whats with the people there? younger or older crowd? why so unpleasant?
The Pinnacle and Fordham were once prestigious buildings of the neighborhood. Not many new luxury buildings have come online in the immediate neighborhood to take the “title” away from them. Maybe 55 E Erie but they are a little dated too.
I’m buying a condo here at the Fordham, I have seen three different units here as well as some other buildings in the city including the Pinnacle, and the Bristol since last year and I have always wanted to buy here at the Fordham. I am aware of the facade issue but as far as I know, it’s being repaired, why does everyone want to bash every “premier” building that warrants a premium for its location and “extra” amenities? I know it doesn’t come cheap but that’s what you pay for such a convenient location and service. That is true in every city and you can’t compare the price per sq ft in this area to some other parts of the city…just my opinion.
The Fordham and the Pinnacle are not premier buildings, but they are in a premier location. I think paying $500 sq ft here is ridiculous, with average finishes, cabinetry, floorplans and unit sizes. The view and location may support a 10% – 15% markup, but beyond that is not justifiable. I agree that this unit wont sell at anywhere near the asking price…maybe $750,000 will get it sold (although I dont think its worth more than $700,00).
The people that live there (older crowd – moving to chi) definitely act like it is prestigious. It probably will sell close to ask as people peceive it to be some sort of awesome bldg. Place is crap!
IW.. location ..yes…Amenities??? I lived there… what amenities? no amenities worth discussing.
Well, most buildings in the River North/Streeterville all offer similar amenities (pool, gym, business center, spa, etc) which drive the assessments up. I’m not particularly talking about this unit which may be overpriced but just telling you that it is not just to bash the building based on the fact that they tend to be somewhat higher priced than a lot of buildings in its neighborhood. I think it may appeal to certain crowds and not knowing any neighbors yet I can’t speak for that but having seen some units in this building (not this one, I agree it doesn’t look anything special) I think some units seemed a bit classier (with higher ceiling, crown moldings, beautiful fireplace, etc) than the brand new ones I’ve seen in Streeterville.
No need to bash a place, I think they are definitely priced higher but then there’s a market for such a building.
The cracks in the concrete exterior scared me away.
Average unit… 1700 x $350 = $595,000
Don’t forget those assessments! Only $1200 per month.