3-Bedrooms With a Private Terrace and Skyline Views: 757 N. Orleans in River North
This top floor 3-bedroom in 757 N. Orleans in River North came on the market in July 2020.
This high rise was completed in 2008, just as the housing boom was ending. It has 196 units and an attached garage.
It’s on the corner of Orleans and Chicago and next to the Brown Line stop.
It’s full amenity building with an outdoor pool, exercise room and a doorman.
You may recall that the developer did a bulk sale of 39 units to an investor at the bottom of the housing bust in 2012.
This unit has east and south views of the Chicago skyline from its floor to ceiling windows.
The living/dining room and kitchen appears to have wood floors.
The listing says there are “updated” cabinets in the kitchen which also has stainless steel appliances and granite counter tops along with a breakfast bar which can fit 4 chairs.
There are 3 bedrooms which the listing says have new carpet.
The primary bedroom also had an en suite bath with a double vanity.
But one of the unique features is a private 362 square foot terrace off the living room with skyline views that has water and electric.
The unit has central air, washer/dryer in the unit and it looks like one parking space in the garage is included (but unclear).
Additional parking spaces are available.
Originally listed in July 2020 at $975,000, it has been reduced $125,000 to $850,000.
If you love city views, does this unit check all the boxes?
Mark Lusk at Keller Williams Infinity has the listing. See the pictures here.
Unit #2202: 3 bedrooms, 2 baths, 1629 square feet
- Sold in March 2009 for $752,500 (no parking included- but might have been wrapped into the price)
- Originally listed in July 2020 for $975,000
- Reduced
- Currently listed at $850,000
- Assessments of $979 a month (includes heat, a/c, gas, doorman, cable, exercise, pool, Internet)
- Taxes of $14,195
- Is garage parking included (or extra?) There is an attached garage.
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 15×14
- Bedroom #2: 12×10
- Bedroom #3: 10×10
- Living/dining room: 20×20
- Kitchen: 15×10
- Terrace: 19×19
At 752k purchase price they would have likely had to put down 150k to get a loan (20% down) at this point in the bust cycle. They could have put that 152k into a total stock market fund and would have approximately 999k today. Instead, they are hoping to make a measly 98k not including real estate transaction fees or transfer taxes.
HAWT!
” Pool deck on 6th floor is visible from private terrace.”
this is a bonus for creepers I guess?
I checked the MLS listing and the parking is included in the price…
“Sold in March 2009 for $752,500 (no parking included”
Where’s that from?
You didn’t rely on MLS info, did you?
Parking space P49 and storage S37A were both included, as limited common elements–ie, they go with the unit.
A small 3br for $170k down and $5k/mo?
Where do I sign.
I’m a huge outdoor space guy, but this a $650k condo w/o the outdoor space. The outdoor space ain’t worth 200k. Hell there’s not even a Pergola
“this a $650k condo”
There don’t appear to be any recent (5 yrs) sales of 3 beds in the building, but the 2/2s have been mainly ~$430 psf, which indicates $700k, plus a little bump for the 3d bedroom–so prob more like $725k.
Which is *bananas* to me for a 10+ yo un-updated unit in a ‘middle class’ building. Related: what’s with the dishwasher?
Bordering on a not so nice area near Cabrini. Bounce nightclub is directly across the street and noise is extremely high given that people in this building call 911 every weekend (pre pandemic) about the noise levels.
Methadone clinic across the street = seedy characters all around on some days
Drive by shooting at the Circle K station on Chicago Ave not long ago.
“There don’t appear to be any recent (5 yrs) sales of 3 beds in the building, but the 2/2s have been mainly ~$430 psf, which indicates $700k, plus a little bump for the 3d bedroom–so prob more like $725k.”
Based on the room sizes, they may have included the outdoor space in the Total SF – Getting 1500sf inc’l 120sf for the Bathrooms and throw in 10% for corridors, etc and your there
Also this is on the El side of the building… right after that screeching turn… no thank you
“Based on the room sizes, they may have included the outdoor space in the Total SF”
Looking at the dec, 2202 appears to be the 2d largest unit, after 2206–which purports to be 1818 sf, per developer spec:
https://www.redfin.com/IL/Chicago/757-N-Orleans-St-60610/unit-2206/home/52637251
2206 apparently came with upstairs roof rights, but also appears nothing has been done with that piece of the roof.
anon (tfo) – – LOL. The dishwasher.
The place is depressing for a top floor. I like the outdoor space but there is just a rotten wood fence separating you from your neighbor.
The kitchen doesn’t belong in this space and completely blows. I couldn’t agree more on finishes – – They’ve done nothing. Everything here is long in the tooth…and possibly non-functional (the dishwasher). Great views though.
The place would show better if they moved out and staged it virtually or put all their stuff in storage and rented some furniture that exudes more of a high end life style vs. I shop at Costco.
“The place would show better if they moved out and staged it virtually or put all their stuff in storage and rented some furniture that exudes more of a high end life style vs. I shop at Costco.”
The place could be rented. Renters don’t purchase custom furniture from B&B….-:).
I’m a fan of this unit. Seems like you get a lot for your money, especially views and outdoor space. Though buildings do go up fast around here, so not sure how protected those views are in the long run.
Some aspects of the unit look a bit dated, of course, and the third BR looks cramped. Also, the LR/DR isn’t as large as I’d like, considering it’s a combined space. Still, for the money, seems like a nice penthouse in a great location.
“Though buildings do go up fast around here, so not sure how protected those views are in the long run.”
Good point Dan #2.
Wonder what’s going into the old Walmart east of this building on Chicago?
“Bordering on a not so nice area near Cabrini”.
Sonies, I had no idea you used to live somewhere “not so nice.”
Lol (just kidding)
Does ANYONE call that area “cabrini?”
I thought that was much further north?
“I checked the MLS listing and the parking is included in the price…”
Cool. Thanks for checking and reporting back Jack.
“They could have put that 152k into a total stock market fund and would have approximately 999k today.”
In 2009? I don’t think many people would think it was altogether “safe” to put their life savings into the stock market at that time.
How quickly people forget how close the financial system was to total collapse and how awful stocks were as an investment then.
Give me a break.
Also, this is why everyone should have a diverse investments. Don’t put all your eggs into one basket.
Sabrina, the Cabrini Green project was bordered by Chicago Ave at the south end, and Division street at the north end. There were eight high rise and 55 low rise buildings on the vast site, that housed up to 15,000 people. It was served by the el stops on Chicago Ave and Division St.
“In 2009? I don’t think many people would think it was altogether “safe” to put their life savings into the stock market at that time.
How quickly people forget how close the financial system was to total collapse and how awful stocks were as an investment then.
Give me a break.
Also, this is why everyone should have a diverse investments. Don’t put all your eggs into one basket.”
It was a once in a generation opportunity to buy low per Warren Buffett. A total stock market index fund IS well diversified. It owns over 3,000 companies. How much more diversified can you get than that? With housing, especially condos, you’re stuck in an association with 100 or more other people that get a power trip to make decisions.
Buying a house was also a questionable decision for many at that time. Everything was questionable. Those who took on some risk, were rewarded handsomely.
“How quickly people forget how close the financial system was to total collapse and how awful stocks were as an investment then”
not to get all doom and gloom zerohedgie, but we are even more close to a total collapse than before. The Fed has used all its tools to mask the crazy. Seriously we all forgot just 15 months ago the fed and the overnight swap fiasco?
Diverse investments won’t help this next go around as we have learned, the extent the spread of the easing the gubment and reserve will take just to try to keep the stars quo, it will hit everyone everywhere.
The when and the how is up in the air, and no one has a clue. Any half hack economist will after the fact said “they called it”, but all they did was just threw a dart blindfolded and got lucky.
“Does ANYONE call that area “cabrini?”
I thought that was much further north?”
The remnant townhouses on Chicago are part of (about 25%) the original Cabrini homes. Cabrini Extension (the “Reds”) was entirely south of Division. Green Homes (the “Whites”) was north of Division.
Here’s a map with the locations of “original” Cabrini (yellow), Cabrini Extension (orange) and Green Homes (red):
https://graphics.chicagotribune.com/cabrini-map/ai/ai2html-output/cabrini-green-desktop.jpg
IMO, before the towers came down, Chicago/Orleans was *definitely* “Cabrini”–from the el to the River, Chicago to Division was 100% that feel.
“not to get all doom and gloom zerohedgie, but we are even more close to a total collapse than before.”
What a total joke. No, we’re not. The banks are completely stable. You can’t even begin to compare today with 2007. How do you have a “total collapse” without the banks going under?
In order to get a financial crisis, you need speculation in the financial sector. Where’s that this go around?
Because there are some SPACs getting money?
Thanks for the link anon(tfo).
I didn’t know those townhouses were considered part of Cabrini.
It’s interesting to think about Cabrini now, in 2021. Because Millennials and anyone younger has no idea what you are talking about, or even referring to, when you say that name.
So much has changed, for the better, in the city.
Urbanization boom has really taken Chicago to the next level over the last 20 years. Lincoln Yards and all the development on the South Branch, like the 78, will continue with this trend.
“I didn’t know those townhouses were considered part of Cabrini.”
Serious? How many total years have you lived *in* Chicago?
I mean, people who don’t care much about real estate except as a place to live, or think “Urbanism” is a reference to Urban Meyer, or think their monthly forays into town from Grayslake make them “real Chicagoans”, sure, but…really?
“What a total joke. No, we’re not. The banks are completely stable.”
Again I will point to the banks being bailed out on the overnight swaps. Explain to me why that needed to happen? Also Derivative markets are just a free flowing and speculative as they were before ‘to big to fail’. Come on, You know stuff doesn’t pass the sniff test when Shaquille O’neal has a SPAC.
“In order to get a financial crisis, you need speculation in the financial sector. Where’s that this go around?”
BriBri, really now. Really? There is always speculation in the finance sector, always. It’s when it get egregious and unchecked is when bad things happen. *cough* *cough* look around.
I have never been a bear, but when shyte just doesn’t seem right, it isn’t right. If I could time it, then I wouldn’t be a desk jockey. Will they be able to right the ship before its out of hand? I don’t know. Will it just blow over? I don’t know. How long can it drag out? No clue.
And Sabrina, if all was well the 19 trillion wouldn’t be needed, now would it. If all made sense the the S&P wouldn’t be at 3,800 while unemployment, record personal debit (pre ‘rona and currently), CPI out of touch with current living standards, and again SHAQ HAS A SPAC.
“What a total joke. No, we’re not. The banks are completely stable. You can’t even begin to compare today with 2007. How do you have a “total collapse” without the banks going under?”
Everythings fine till its not
“In order to get a financial crisis, you need speculation in the financial sector. Where’s that this go around?”
You think retirees figured hey’d be getting 2% on 20yr notes? You dont think this is forcing people into riskier investments?
I hope you’re vocation in finance is limited to being a greeter at BMO
“anon (tfo) on March 25th, 2021 at 10:56 am
“I didn’t know those townhouses were considered part of Cabrini.”
Serious? How many total years have you lived *in* Chicago?”
She’s a work from wherever Googs analyst who used Google Maps to learn more about the Southport Brown line stop. Instead of dropping any names there the locals would know she went with the chain stores.
I doubt Sabrina lives in Chicago which is why she is always accusing others of not living here. Seriously anyone that has ever taken the Brown line downtown for work KNOWS those townhouses are part of Cabrini Green and the only remaining part of Cabrini Green.
To not know that is easily and obviously identifying oneself as not being a local.
The financial sector will be bailed out every time it needs to be because lawmakers have so much invested in it. So follow their cue and invest in the stock market. If it goes down 40%, they’ll add more stimulus to prop it back up. If you want to hedge against the money printing, buy alternative assets such as crypto, gold, or high returning rental units that generate positive cash flow, etc.
Sabrina not knowing where Cabrini is while accusing users of this site for not living in Chicago is the pinnacle of hypocrisy. Probably lives up in Grayslake or something.
If I’m remembering right, the townhouses were the original part of Cabrini (just not Cabrini Green) as a public housing development. And it was a ghetto before the projects were built, which is why there is no Oak or Division station on the el.
“If it goes down 40%, they’ll add more stimulus to prop it back up.”
What are you even talking about Mike HG? How OLD are you?
Not old enough, apparently.
Somehow, the NASDAQ lost 80% of its value in 3 years to start this century and the “lawmakers”, gasp, allowed it.
And then all of the major indexes went nowhere for 10 years, culminating in another 50% smack down in 2009.
LMFAO.
If that is “bailed out” then I guess I’m missing something.
“Sabrina not knowing where Cabrini is while accusing users of this site for not living in Chicago is the pinnacle of hypocrisy. Probably lives up in Grayslake or something.”
Sorry. I only know where the former high rises were located. I never paid attention that the entire area all the way to Chicago Avenue was also considered “Cabrini.”
But it’s okay because that name has vanished now and only old people, like myself, even know what it is anymore.
Change.
My kids have no idea. Have never heard of it. And they’re Millennials. But they don’t care much about real estate. ha ha
“Seriously anyone that has ever taken the Brown line downtown for work KNOWS those townhouses are part of Cabrini Green and the only remaining part of Cabrini Green.”
They do Bob?
You’re old. No 25 year old passing those townhouses every day is sitting there thinking, “there go those Cabrini townhouses.”
They don’t even know what Cabrini IS.
LMFAO.
They’re obviously public housing. Anyone can see that. But, again, who knew that “Cabrini” entailed that large of an area.
I wonder why BaseCamp townhouses just didn’t call themselves, “New Cabrini”?
Lol.
Yes, I’m being sarcastic.
But no. I had no idea that whole area was considered Cabrini.
But, again, as I’ve said, it doesn’t really matter, does it? Cabrini is gone and will only be known through the history books from now on. Young people have no idea.
“BriBri, really now. Really? There is always speculation in the finance sector, always. It’s when it get egregious and unchecked is when bad things happen. *cough* *cough* look around.”
Really?
Tell me where it is. You need something to destabilize it. And Bitcoin isn’t that. So what is at that magnitude? NFTs?
Come on Groove.
So tired of everyone on this blog betting against America. You all are REALLY doom and gloom. Have you missed out on the bull market in stocks? Are you going to miss out on it in housing?
“If all made sense the the S&P wouldn’t be at 3,800 while unemployment, record personal debit (pre ‘rona and currently), CPI out of touch with current living standards, and again SHAQ HAS A SPAC.”
It’s a pandemic with a government induced recession. You cannot compare it to anything else we’ve ever been through and none of us were alive in 1918 so no one right now has any experience with what has happened in the last year.
We only know the US economy will boom by later this year. How many can we get back to work?
If what is happening in travel right now is any indication, a LOT of those people.
Look at the unemployment level in the non-tourist areas/counties. It’s back under 5% in places like Elkhart, where they’re building all the RVs. The rest of the country is going to get there quickly.
“So tired of everyone on this blog betting against America.”
Ahh yes a belief that asset prices are overvalued currently -> “betting against America”. I see. Thanks for the enlightenment.
I’m a millennial and I grew up in the suburbs. I knew what Cabrini was when I was 8. I was in high school when the towers fell, so plenty old enough to remember the Nasdaq falling 80% after it skyrocketed the previous decade. Everyone knew it was a bubble, just like GameStop.
“And then all of the major indexes went nowhere for 10 years, culminating in another 50% smack down in 2009.”
Small caps were flying higher in the 2000’s. International equities, especially emerging markets, crushed it in the 2000’s. If you start on January 2000 and end at the bottom (March 2009), two massive stock sell offs, you would have been down 40% if you only invested in large cap equities. If you hold on for the rest of the year in 2009, you’re only down 10%.
Again, a well diversified total stock market index fund, both domestic and international (including small caps) is a very good investment.
“But it’s okay because that name has vanished now”
—————————
How long below it gets subsumed into the expanding Bucktown empire?
“Tell me where it is. You need something to destabilize it. And Bitcoin isn’t that. So what is at that magnitude? NFTs? ”
That Bitcoin (crypto in general) is so hard to get my head around. I decided long ago to just skip the boat on that one and be okay with it. Tesla is another that defies my brain logic, okay with skipping that too. Low risk and steady is my boring motto.
Do you think it will be 1 thing that will take to destabilize it? I really think at the moment there is a multitude from different angles and multitude of mini bubles that are pushing it off the bridge. I can’t say which will give it a final shove, or if there is an outlier that will come in and knock down the cards.
I wish I wasn’t pessimistic on this and was taking risks, because the well seems to be running over for those who are.
It just doesn’t pass the sniff test.
“If it goes down 40%, they’ll add more stimulus to prop it back up”
This is the only reason i can wrap my head around the viability of cryptocurrency. Even with the Fed’s printer on full tilt, i still can get my brain to jump in bitcoin.
“It’s a pandemic with a government induced recession. You cannot compare it to anything else”
again i ask, please explain to me the overnight swap issue that was Pre ‘Rona. The buss’s wheels were loose before the pandemic.
“We only know the US economy will boom by later this year. How many can we get back to work?”
Artificially booming, and that is my worry. The temporary uptick will help the can kicking but will not solve the issues we have.
Housing with its current 2005’ish feel will look even crazier when the boom will be in full swing.
logic is lost when it’s easy and money flows in.
“Sorry. I only know where the former high rises were located. I never paid attention that the entire area all the way to Chicago Avenue was also considered “Cabrini.””
Considering the map I linked to shows that one of the Reds was *on* Chicago, *east* of the townhomes (where the Jesse White building is now), even that’s an exaggeration.
So, not before 2005. Possibly never.
Got it.
“SHAQ HAS A SPAC”
oh and forgot to add, you know things have gone off the rails when there are NFT Art galleries.
“Artificially booming, and that is my worry. The temporary uptick will help the can kicking but will not solve the issues we have.”
None of it is artificial.
Is Google’s need for 10,000 workers “artificial”?
Is the need for construction workers to build new houses “artificial”?
No. None of it is.
US economy was humming before the pandemic. It will hum afterwards. A lot of it is simply the largest generation in US history entering into its most productive years.
“I’m a millennial and I grew up in the suburbs. I knew what Cabrini was when I was 8.”
Why? It was already torn down by the time my kids were 8. They have no idea about it and they were Chicago kids.
They could care less.
Unless you’re 40, Mike HG. And then, yes, you’d probably know what Cabrini is if you spent your whole life in the Chicago area.
Otherwise, sorry oldies, young people just don’t care.
And, about stocks, when they enter into bear markets, ALL of them enter into bear markets. You can’t save yourself from the cycles. You CAN own for 30+ years and the cycles even out.
But, once again, it’s another indicator that we have entered into another bull market in the housing market as all of you are yammering on and on about stocks on this site. The exact opposite about what happened in the 2007-2012 time period on this blog when everyone was STILL saying housing was the asset class to be in. But that’s because even after a bull busts, it takes years for people to figure it out. Same with bulls. We’re already in the next one but everyone on here has no clue.
ha ha
“Ahh yes a belief that asset prices are overvalued currently -> “betting against America”. I see. Thanks for the enlightenment.”
No, Bob.
Saying Chicago is doomed and never coming back is betting against America.
Saying all large cities are doomed and never coming back is betting against America.
Cities are 2/3rds of the country’s GDP.
THAT is betting against America.
And you’ve been wrong for 100 years. Move on.
“Why? It was already torn down by the time my kids were 8”
Your kids are seniors in HS this year? Last building came down in 2011, and it was a kinda big deal.
“They have no idea about it and they were Chicago kids.”
Reeks of “UMC privilege”. The sort you get when you lived in Naperville from K-12, and tell people you “grew up in Chicago”.