500 Sq Ft Private Terrace on the 65th Floor for $3.995 Million at 14 W. Superior in River North
This 2-bedroom in One Chicago at 14 W. Superior in River North came on the market in September 2023 but it was also listed in 2021 and 2022.
Built in 2022, One Chicago has 77 units and valet garage parking.
It’s a full amenity building with door staff and a private amenities floor. The listing says: “Residents will enjoy a membership to Life Time Athletic Resort and Spa’s diamond level private club.”
This unit is on the 65th floor and has eastern views from the living/dining room.
There’s a family room off the living room.
The unit has an O’Brien Harris kitchen with top-of-the-line appliances and a large island with seating.
Off the kitchen is a large “laundry/mud room” with storage, a sink, and what looks like a large wine refrigerator as well as a stackable washer/dryer.
The unit has wide plank hardwood floors throughout except in the primary suite which has carpet.
The primary suite has north-east exposures, a walk-in-closet and a “spa-like bath” which offers floor-to-ceiling slab porcelain and Kalista fixtures along with a large soaker tub with city views.
The second bedroom is also en suite.
But this unit also has a rare feature for this building, it’s own private outdoor space. There is a 500 square foot south facing terrace accessed off the kitchen with unobstructed skyline views. The terrace appears to have water access.
It has central air and 2 valet parking spaces are available for $50,000 each.
This building is in the heart of River North, near shops, restaurants and is on top of the new Whole Foods. It is just a few blocks from Michigan Avenue and many forms of transportation including buses and the Red Line subway.
Zillow says this unit was originally listed for $4.2 million in 2021. It went pending twice. It is currently on the market for $3.995 million.
Will the terrace make the sale?
Millie Rosenbloom at Baird & Warner has the listing. See the pictures here (sorry, no floor plan).
Unit #6501: 2 bedrooms, 2.5 baths, 2783 square feet
- Originally listed in August 2021 for $4.2 million
- Went pending twice in 2021 and 2022
- Re-listed in September 2023 for $3.995 million
- Assessments of $2499 a month (includes heat, a/c, gas, doorman, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes are “new”
- 2 car valet parking available for $50,000 each
- Bedroom #1: 23×12
- Bedroom #2: 17×18
- Family room: 15×11
- Living/dining combo: 23×23
- Kitchen: 20×11
- Laundry/mudroom: 16×19
- Terrace: “nearly” 500 square feet
nObODy UseS a ouTDooR sPaCe ThiS hIgH uP
So this is a developer owned unit, nice!
If I’m dropping $4MM, I aint exercising with the plebs
Killer views
I dig the combo Mud Room/Pantry but fuck thats a lot of high dollar real estate
I mean views are amazing. Really wonder why it dropped out of contract twice. Is 4M going to get this sold?
I really like the mudroom good combo of storage, prep area, laundry plus half rack for automation.
Open closets are weird.
100k Valet Parking = thumbs down
Beautiful place but I’d rather have a 2M condo somewhere warm and a 2M condo in Chicago. It’s just not THAT amazing.
Beautiful place.
And I love the Laundry/Prep/Flex room…but that is expensive!
The terrace is perfect..for me.
The kitchen layout isn’t for me…the layout is awkward with the wall oven and fridge so far from the island…
And that doesn’t scream 4MM kitchen except for the views.
Wonder why no floor plan on newer construction?
Old corcoran listing has it as SOLD BEFORE PRINT:
https://www.urbanrealestate.com/property/14-W-Superior-Unit-6501-Chicago-IL-60654-6W3ojWdskSqF.html
It’s not a developer unit–it has been sold. $4,062,500 in Jul-22, including the 2 valet parking spaces.
ps–I count 32 sold units, including 2 this year–both in Jan, and both 1/2s for $1m.
Love the terrace; love the views. As everyone else noted, the laundry/pantry/mud room/office is pretty great, but I would give that up to have a less awkward/roomier kitchen/living/dining space.
You’d think for $4 mil, they could throw in ONE of the parking spaces.
I live in an approx. 1,450 sq ft 3 bedroom that most of you guys would probably tear down if you bought it (or wince if you saw it, thinking “man nonny should have spent more time working and less time on CC”), but from no vantage at our dining table is anyone looking at a tv. For nearly $4,000,000 + $2,500/mo + taxes, half of the dining chairs in this place have a pretty direct view of the Vast Cultural Wasteland (RIP NM). The views and terrace do seem consistent with the price point though, and then some.
Assessments aren’t bad…whole place is pretty underwhelming though. They could have done much better with the interior and furniture.
“the laundry/pantry/mud room/office is pretty great, but I would give that up to have a less awkward/roomier kitchen/living/dining space.”
I get the feeling that whomever lives here outsources most of their food prep / catering needs to the giant Whole Foods downstairs. WF probably even delivers food hot and to the unit door for the right price.
anyone know what the chicago code is on high rise balcony furniture?
I guess as we are not in tornado alley that it’s not an issue?
I recall at 211 e ohio that parking got switched to valet because there were not enough spots for all the units.
I am surprised that a new high end build building went directly to valet parking
and really cheeky to ask 50k each for 2 valet parking rights.
I would much rather buy in this building and walk in and out here on W. Superior than
the other property. Much more pleasant when going home
https://cribchatter.com/gut-renovated-1-bedroom-with-1200-sq-ft-landscaped-patio-in-streeterville-240-e-illinois/
Wall-to-wall carpeting (poorly installed) in the Primary?
With 7′ high glass railings, wind ceases to be a problem, BTW…
How many times a year does the association have outside of the terrace glass cleaned?
Or is that 100% on the unit owner to pay for?
“I would much rather buy in this building and walk in and out here on W. Superior than
the other property. Much more pleasant when going home”
One is an upper tier, $1 million+ building and the other is not. Very different buildings for different buyers.
And is 14 w superior more “pleasant” if you are coming from Chicago Avenue? It has to be one of the busiest intersections of people, bikes and cars downtown.
“I am surprised that a new high end build building went directly to valet parking”
Developer has this at his other sold out building, doesn’t he?
Is the Tribune valet?
The Palmolive is also valet. Seems the norm for many of these upper price tier buildings.
“anyone know what the chicago code is on high rise balcony furniture?”
Buildings have codes but haven’t heard of a city-wide one. Remember the high floor terrace at Trump Tower? Their furniture could not be left outside, I don’t believe.
A terrace this high up seems too scary to me. Even with the big walls.
“WF probably even delivers food hot and to the unit door for the right price.”
There was originally going to be free food delivery to the units but not sure if they kept that amenity.
“ps–I count 32 sold units, including 2 this year–both in Jan, and both 1/2s for $1m.”
That’s a good number considering the price point and how many luxury units are on the market in a bunch of buildings. Lots of competition.
“How many times a year does the association have outside of the terrace glass cleaned?”
Good question. It’s an exterior feature so the exterior part of the glass would be part of the association.
These buildings usually have windows cleaned twice a year so I would assume they would clean that glass at the same time.
Sorry there is no new post today. Something has come up this week. Probably won’t have anything new until next week.
“I am surprised that a new high end build building went directly to valet parking”
They are working with a fairly small footprint and can probably fit a lot more cars in a valet situation. “No parking available” will drive away a lot more prospective buyers than “valet parking only”.
For those asking about the decision to valet, if you do it without assigned spaces, you’re able to over sell the number of garage spots by about 50% because they aren’t all using the garage at the same time and they can make use of aisles when needed. This is typical for garages that have residents, but also allow outside parkers.
Think this is my favorite newerish development. This particular units too rich for my blood but some of the 2m units are perfect
This is my dream unit. Now I just need to come up with the money or see if a $700,000 offer is acceptable. I’m going to start packing.
For those asking about the decision to valet, if you do it without assigned spaces, you’re able to over sell the number of garage spots by about 50% because they aren’t all using the garage at the same time and they can make use of aisles when needed. This is typical for garages that have residents, but also allow outside parkers.
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Exactly. This likely was a cost driven decision which I would personally not want in a new build luxury building.
SABS PERSONA says
“And is 14 w superior more “pleasant” if you are coming from Chicago Avenue? ”
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Suggestion: When having a discussion, before typing go through a check list that includes not moving the goalposts
have a nice weekend
as there is no edit.
follow up
Do whatever you like on your site. It’s all good.
and again enjoy the unseasonably nice weather this weekend.
“Suggestion: When having a discussion, before typing go through a check list that includes not moving the goalposts
have a nice weekend”
Yeah. If you are walking in front of this building you are ONLY going to walk on ONE SIDE of it. You are NEVER going to walk around the corner and go up the street.
I guess you can say on the Streeterville unit, you are NEVER going to go down those stairs and to the Whole Foods that is there. Ironically, both have GREAT street presence with a top supermarket in each building.
But that’s not enough “street presence” for chichow.
And that empty one story building with papered up windows on the corner of Superior and Dearborn IS good “street presence”?
Come on!!!!
I think the entrance to 14 W. Superior is nicer but it darn well should be since the price points start at double/nearly triple that of the other building which was never marketed as luxury condos.
“Exactly. This likely was a cost driven decision which I would personally not want in a new build luxury building.”
They all have it.
And how are they selling more spots than are there when you have to pay taxes on the parking spots?
“They are working with a fairly small footprint and can probably fit a lot more cars in a valet situation.”
14 W Superior takes up a whole block. There is plenty of parking spots in the building. In some older buildings, like Palmolive, the use of valet is definitely tied to the tightness of the garage and the ease of being able to get cars out.
It’s a perk. All you do is call down to the valet and 20 minutes later there it is waiting for you when you come down to the lobby. How decadent is that? Of course, this all comes at a cost.
“There is plenty of parking spots in the building.”
How many of them belong to the Archdiocese?
How many are exclusive for Food Hole?
How many are exclusive for Lifetime?
The rentals are also valet.
The bigger question is how do they pay for valet with owned spaces.
My previous building had about 150 spaces. There were 225 monthly parkers as well as outside hourly parkers and with all that revenue the garage narrowly loses money against the cost of the valet staff.
If people own their spots, who is subsidizing the valets and garage expenses? No reason that their costs would be different than ours.
“If people own their spots, who is subsidizing the valets and garage expenses? No reason that their costs would be different than ours.”
You pay an assessment on the parking space. How else do you maintain the garage, pay the valets, heat and cool the garage, fix the elevators, the lighting, and do painting and repairs?
“How many of them belong to the Archdiocese?”
They have an agreement with the Archdiocese. Also with the Whole Foods and the gym. But they are not putting the cars of the million dollar condos in the same parking garage as everyone else. It has its own entrance, staff and all of that.
I wonder what the parking assessment is. I bet it’s around $200/mo
“They have an agreement with the Archdiocese.”
The master developer *deeded* 225 spaces to the Archdiocese.
They may have an agreement that includes more, but the Catholic Bishop of Chicago owns–subject only to the master condo–225 parking space in the building, on lower levels 1 and 2.
From the Holy Name parking FAQs:
“Who parks on Lower Level Three (LL3) and Lower Level Four (LL4)?
“All residents of the two towers in the One Chicago Square complex are required to use Valet Parking for their vehicles. The valets park all of the residents’ vehicles on LL3 and LL4.”
https://holynamecathedral.org/contact-us/directionsandparking/
So, yeah, the cars of the million dollar condos are in fact being parked in the same garage as the church goers.
It *is* the case that Lifetime/Food Hole/etc parking is in a separate garage, with an entrance off Dearborn.
“I wonder what the parking assessment is. I bet it’s around $200/mo”
Appears that renters pay $350, so that sounds about right.
If that’s the case, I’d rent instead of buying.
“I wonder what the parking assessment is. I bet it’s around $200/mo”
Do you think $200 a month covers the salaries and health insurance of the valets?
“Do you think $200 a month covers the salaries and health insurance of the valets?”
That number seems about right for me to cover labor and expected maintenance. Generally, these garages are run break even, so they take the expected total expenses, subtract out monthly rental and daily parker income and use the assessments to make up the difference.
There is an astronomical 22% city tax on garage parking for non residents, so outside monthly parkers, even if they pay market rates, don’t net much more than the $200 assessment.
In light of this tax, no one is making money on garages. They really only work as an amenity.
“In light of this tax, no one is making money on garages. They really only work as an amenity.”
I guess someone forgot to tell Standard Parking.
So you are saying, AC, that you don’t know how much the salaries of the valets are. What about security? Is there any maintenance of the public part of the garage? Who covers that?
That’s why I’m doubtful that they would structure it so that any public parking was combined with the condo parking. That is WAY too messy on assessments.
Who DOES own the public garages? Archdiocese has a bunch of spots. They are paying assessments and property taxes on their spots.
I don’t know the specifics of this garage, but rather one a couple blocks away that uses standard parking as a paid contractor who adds to the garage expenses. It’s a Michigan’s ave valet garage that the condo association owns. $225 monthly resident, $300ish outside monthly and market rate hourly parking with 155 spaces (over sold 50% and full) and it always loses money. 2 valets are on 7am-11pm, 1 overnight. Maintenance expenses are very minimal.
“It’s a Michigan’s ave valet garage that the condo association owns. $225 monthly resident, $300ish outside monthly and market rate hourly parking with 155 spaces (over sold 50% and full) and it always loses money. 2 valets are on 7am-11pm, 1 overnight. Maintenance expenses are very minimal.”
Maintenance expenses are minimal, until they aren’t. All garages need maintenance.
But maybe the reason it is losing money is because you can’t pay for valets to park the cars at $225 a month.