Get a River North Duplex Penthouse With a 1000 Sq Ft Terrace for $850,000: 645 N. Kingsbury
This 2-bedroom duplex penthouse in Admiral’s Pointe at 645 N. Kingsbury in River North came on the market in August 2016.
The listing says the unit has been renovated.
It has floor-to-ceiling windows with the main living areas and two bedrooms on the main floor.
The kitchen has modern white and wood cabinets, Silestone countertops and stainless steel appliances.
The second floor has a 25×25 family room with a 1000 square foot wrap-around deck with city views.
It has central air, washer/dryer in the unit and 2 garage parking spaces are included in the price.
You can even take the water taxi to work on the Chicago River as there is a stop nearby.
This unit last sold in 2002, when the building was new construction.
It is listed at $850,000, including the parking.
Is that a deal for a River North penthouse?
Krystyna Kaczor at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.
Unit #2608: 2 bedrooms, 2 baths, duplex, 1850 square feet
- Sold in September 2002 for $575,500 (included 1 car parking)
- Currently listed for $850,000 (includes 2 parking spaces)
- Assessments of $1303 a month (includes cable, Internet, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $11,101
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×12 (main level)
- Bedroom #2: 13×12 (main level)
- Family room: 25×25 (second floor)
- Terrace: 50×20
FIRSTS!!! COME TO MY SHOW FRIDAY AT DOUBLE DOOR!!!!
Other than the HOA, this one actually seems like a bargain Vs other crap out there. Finishes look a little on the economical end
Parking is nuts to butts correct?
These listing descriptions are fucking embarrassing, these clowns are going to make like 50k on this sale and they can’t even write a proper sentence that hundreds of people will read or bother to take a few seconds to proof read. I’m in the wrong god damn business!
re: listing descriptions. Given how often you see what seems like a “sloppy” approach, even among higher end properties, my guess is that the text doesn’t really matter to most clients (buyers). Ultimately the property speaks for itself unless the description is truly incoherent. That being said, some of the stuff you see really is pretty lol.
Personally speaking I appreciate an agent that takes the care to present themselves extremely professionally online. I have no data to back this up but I think it’s strong indicator that they are better than the typical option. There are some really mediocre approaches to personal websites, copywriting, etc., and it takes some actual effort to stand out.
Looks like I struck a nerve with a few of the sloppy realtors out there
Thats why sites like Redfin are trying to disrupt the old broker model. Last weeeknd I was in MI looking at vacation rentals, I saw 3 places all within half mile of each other.
Me: So how often are properties assessed here
Agent: I’m not sure, let me get back to you
Me: This house is about $190/sqft, it’s higher than the others by about $50 bucks. Is there some reason why?
Agent: No, this house is listed at $300,000.
Me: Huh?
The barriers to enter the profession are quite low.
Sorry for the semi-OT post here, I have a question for “homedelete” (or anyone)
On the post from yesterday, homedelete said:
“This place [670k small-ish SFH in Bucktown] could easily be worth a mil or more in a few years. That’s pretty much where all SFH’s in the green zone will start in price in a few years”
I was hoping you might be willing to explain your thought process a little bit more here. Based on the data I have seen, Green Zone SFH’s in the mid to high 000’s have seen fairly modest appreciation over the past year-ish and it would take quite a lot of appreciation in a few years to get a place like this up to $1m. It might have just been a one-off comment but if there are some specific insights driving that statement I would love to hear them. My question is more general than on this specific property but any insight you have would be appreciated. Thank you.
Here’s an insight, the number of millennials that will purchase SFH’s is just starting. The youngest millennial are currently in HS or about to graduate. The oldest millennials brought the desirable real estate holdings out of the dumps in the past half decade.
As a former realtor I used to manually type my listing details on the sheet I had to turn in to the broker. It was the sloppy, lazy “administrative assistant” that actually entered them in the MLS. After she did that, it was easier for me to delete the entire remarks section of the listing and re-type it myself rather than try and correct her stupidity. Possibly the agent didn’t get to this before info was actually posted to the public. If not, yes, that’s a lazy agent or sloppy broker altogether. There are some dumb people in the business but there are also doctors and lawyers that graduated at the bottom of their class too. I’ll leave Chicago nepotism and connections out of this for now.
tay posted question about a recent ‘hd’ post.
First imo hd tries to be ironic in many of his postings. Second imo hd is more than a little jealous about rising values of GZ housing so he trolls on the subject & since tay bit hd was apparently successful.
Finally independent of hd’s post, imo the land value of potential teardowns in GZ continues increasing b/c buyers & renters love & are willing pay extra for new construction. I believe if RE markets & the underlying economy don’t tank, it’s conceivable in next 5+/- years SF/3 unit lots aka teardowns in Bucktown, Lakeview & elsewhere in GZ will move up from current values of roughly $650-$700K & could reach $1 mil.
southbound – thanks for the reply. it wasn’t clear to me that he was trolling. i’d like to hear one way or the other though (or other’s opinions)!
“it wasn’t clear to me that he was trolling.”
With HD, the default assumption w/r/t “forecasting” is that he’s trolling. It isn’t all of the time, but only if there is a real explanation accompanying the forecast.
I think that it is unlikely that we see lot prices going from the current $700k range to $1m, unless there is (somehow) meaningful inflation AND wage growth, as (1) there just aren’t enough people that can really afford $2m homes, and the (soon to be) $30k+ tax bills that go with them, and (2) there aren’t enough of the lots that are both zoned properly for 3+ unit buildings AND in locations likely to garner $2.5m+ in aggregate sale price for that to be the prevailing lot value.
Yes, there likely will be some GZ locations where the remaining teardowns have a $1m+ value, but I don’t think that it will be the real floor.
What do you call the generation after millenials? The “totally fucked” generation?
anon – thank you. that makes sense to me.
I hate that most listings “boast” all their amenities.
This place seems to be well priced. I can see a young couple in a move up situation with $100K in equity and some cash making this one work for a few years. The downside is the HIGH $1K assessments and $1K monthly tax bills. Over time that will wear on the owners. Because in the end it is still just a two bedroom with a great deck and cool view.
If it had that elusive third bedroom and actual in-unit laundry room as opposed to a stack unit in the hallway……that might change my opinion. Those owners can stay for years with only one or two kiddies.
Closed for 825K