Renovated Gold Coast 3-Bedroom Reduces $100,000: 1430 N. Astor
This 3-bedroom in the Astor Villa at 1430 N. Astor in the Gold Coast came on the market in August 2019.
The Astor Villa was built in 1972 and has 49 units and assigned parking. It has a doorman and exercise room.
We chattered about the sister unit to this one, #4C, back in September 2019. Both #4C and #5C were renovated with modern finishes.
Unit #4C sold in November 2019 for $600,000 but #5C remains on the market.
See our chatter here.
The listing says it has been “fully renovated with no detail missed” including hardwood floors.
The kitchen is “gourmet” and has Kitchen Aid appliances including double wall oven, separate cook top, custom cabinets, quartz counter tops and back splash.
The bathrooms are marble.
It has a 5o-foot long balcony facing Astor.
The unit has side-by-side washer/dryer, wall air conditioning units and assigned parking in the building, which the listing says is included.
The listing no longer talks about the special assessments for the roof deck, lobby, mezzanine and hallway renovations so those may have been completed by the building. Reserves are still $650,000.
Listed at $699,000, it has been reduced $99,100 to $599,900.
This unit is listed as a 3-bedroom, but appears to really be a 2-bedroom as the listing says the walls were removed for one of the bedrooms to create a more open floor plan.
If you’re a buyer looking for all the 3-bedroom units, this condo won’t suffice. For those looking for 2-bedrooms, this unit would never come across your search because it is listed as a 3-bedroom.
Could confusion over the bedrooms be hurting a sale of this condo?
Robert Picciariello at Prello Realty still has the listing. See the pictures here.
Unit #5C: 3 bedrooms, 2.5 baths, 1600 square feet
- Sold in April 1986 for $204,000
- Sold both #4C and #5C in January 2019 for $452,500
- Originally listed in August 2019 for $699,000
- Reduced
- Currently listed at $599,900 (assigned parking included)
- Assessments of $1828 a month (includes doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $7490
- No central air. Wall air conditioning units.
- Side-by-side washer/dryer in the unit
- Bedroom #1: 17×12
- Bedroom #2: 14×11
- Bedroom #3: 14×10
- Living room: 22×15
- Dining room: 12×10
- Kitchen: 13×9
- Walk-in-closet: 13×9
I’m not sure why anyone would find this unit interesting. Nothing about it speaks to me, at least. Dull, dull, dull. And buildings from the 1972 era tend to be cheaply built.
love the fridge so thoughtfully framed in view of the living room
I have no idea if the hallways and lobby of this building are anything to write home about (why are there no pictures???), but you get pretty good public schools and a slam dunk location relative to park, lake and transit access and other neighborhood amenities.
I like visiting Chicago’s “hipper” neighborhoods but have no interest in living near those folks. This seems rather nice to me. The seller is likely going to do well as they should for having made an astute move and I think this is approaching priced to sell territory. My only concern would be if there is noise traveling between units from where the connection used to be with the unit below this one otherwise I assume it is concrete between units and you won’t hear diddly squat from your neighbors.
Imagine a 5k monthly nut for a unit without central AC. Clown town.
Wait – – this is only a two-bedroom? I hate listing games like this. $5k plus (taxes have a way of going up around here), for a TWO BED. No thanks. You can rent a lux unit in this school district for $1500/mo less and not bear the burden of tax risk. Just invest the extra money. I would not be interested in this for anything over $450-$500K.
“The listing says it has been “fully renovated with no detail missed””
“This unit is listed as a 3-bedroom, but appears to really be a 2-bedroom as the listing says the walls were removed for one of the bedrooms”
I mean, I guess a 3d bedroom in a 3 bedroom rises above the level of a “detail” that could be missing, so the realtor isn’t technically lying.
Look like the third bedroom was converted to a huge closet? This place is a joke though, way overpriced. glhf with that sale.
I’m surprised a bank lent the rehabbers double the value of the asset.
cost of 4C and 5C = 452k.
mortgage = 900k
That’s pretty aggressive lending.
Consider 6C’s price history :
200k in Sep 1985 = 475k today dollars
262k in May 1991 = 497k today
430k in Dec. 2003 = 600k today
437k in Dec. 2012 = 490k today
The ‘hood hasn’t changed over the last 35 years, but one of those inflation-adjusted prices is not like the others. Bottom line:
Buy now or be priced out . . . hmm . . . I dunno . . . never?
https://www.redfin.com/IL/Chicago/1430-N-Astor-St-60610/unit-6C/home/14126564#property-history
This unit’s current owner is a shooter. He bought this 2-bed Goldcoast condo Nov 2018 for 330k, rehabbed it, and sold it June 2019 for $575k — a nice winner.
https://www.redfin.com/IL/Chicago/50-E-Bellevue-Pl-60611/unit-1202/home/14122308
Same developer dude recently bought this 1 bed goldcoast condo for $230k, (originally offered at 270), rehabbed it & has relisted it for $389, a huge premium for the plat given recent comps. but why not ask for the moon when everyone wants ‘new’?
https://www.redfin.com/IL/Chicago/1030-N-State-St-60610/unit-9D/home/14110387
“Same developer dude recently bought this 1 bed goldcoast condo for $230k, (originally offered at 270), rehabbed it & has relisted it for $389,”
Thanks for the link wojo.
We’ll have to see if there are buyers for a nearly $400,000 800 square foot unit in that building. You are right that buyers want “new” and it has all the finishes that buyers look for. They can literally just move in and that’s it.
I’m glad for the rehabbers. Without them, a lot of these older condos would be sitting. The rehabbers are taking the risk. They should be rewarded (and it looks like they are.)
wojo – – ha! In that second listing, if the number of photos are any indication, that rehabber is super proud of either that bath vanity or the way the towels are rolled up inside the vanity cubby holes. LOL.
Needs to hire a photographer.
“I’m surprised a bank lent the rehabbers double the value of the asset.
cost of 4C and 5C = 452k.
mortgage = 900k”
Very common for the face amount of a construction mortgage to be 200% of the amount of the actual loan.
Indeed, the cover page of the actual recorded mortgage says: “Loan Amount: $450,000”
So, 100% mortgage. Still pretty aggressive.