Terrace Week: A Gold Coast 1-Bedroom with a 700 Sq Ft Terrace at 1516 N. State Parkway
This large 1-bedroom at 1516 N. State Parkway in the Gold Coast came on the market in April 2022.
Built in 1974, it has 64 units and attached rental parking.
The building has just 4 units per floor, doorstaff, an exercise room, an outdoor pool, a live-in engineer, and a laundry room.
This unit has been reconfigured from a 3-bedroom to a big 1415 square foot 1-bedroom (although the floor plan listed in the prior listing shows it as a 2-bedroom.)
The listing says it is “Zen inspired.”
There is bleached white oak wide plank flooring throughout.
The bedroom is separated from the living room by sliding opaque glass panels.
The bedroom has a huge walk-in-closet and a bath with a soaking tub. The second bath has a pulsing shower.
The kitchen has “high end” white Italian kitchen cabinets with integrated Subzero and Wolf appliances and a built-in espresso machine.
The unit has floor to ceiling windows, with remote blinds, that look out over the private 700 square foot walled terrace which has grass, concrete and planters.
The listing describes it as a great place for your dog and says there is no weight limits on pets in the building.
It has central air and rental parking is available for $190 a month. However, there is no in-unit washer/dryer.
This building is at the north end of the Gold Coast, putting it just steps away from Lincoln Park and near the shops and restaurants of Old Town.
Listed in April 2022 at $625,000, this unit went under contract once already. It is still listed at $625,000.
Is this a perfect home for a dog lover?
Pam Lynch at @properties Christie’s has the listing. See the pictures and floor plan here.
Unit #5D: 1 bedroom, 2 baths, 1415 square feet
- Sold in November 2106 for $384,000
- Originally listed in April 2022 for $625,000
- Under contract in July 2022
- Re-listed at $625,000
- Assessments of $1438 a month (includes heat, a/c, doorman, cable, Internet, exercise room, outdoor pool, exterior maintenance, scavenger, snow removal)
- Taxes of $8217
- Central Air
- No washer/dryer in the unit (laundry room in the building)
- Rental parking for $190 a month
- Bedroom: 14×25
- Living room: 14×15
- Dining room: 18×9
- Kitchen: 14×10
- Terrace: 14×51
I love the remodel and outdoor space. I would prefer a smaller master and a second bedroom for an office/guest room, but not a deal breaker. No w/d, $1600 assessments, and rental restrictions are deal breakers. $1600 is not that bad considering age and number of units, but I have no interest paying that much.
Should have invested that decent design/decor in a worthy building.
“I would prefer a smaller master and a second bedroom for an office/guest room, but not a deal breaker.”
Agreed about having some kind of office space carved out of that huge bedroom and closet Lauren.
“Should have invested that decent design/decor in a worthy building.”
What is “worthy”? Units in 1970s buildings shouldn’t be renovated? Or are you just saying they over renovated with the Italian cabinets etc. for this particular building and could have spent less?
I love the bleached oak floors in this unit. Very classy and neutral.
Everyone will enjoy 9D:
https://www.redfin.com/IL/Chicago/1516-N-State-Pkwy-60610/unit-9D/home/14113374
“they over renovated … for this particular building”
Having gthooi, it looks like the only sales ever at higher than the ask have been for combined units–so ~2x the square footage. The terrace is obviously worth a decent increment over any of the balconies, but 1 beds are tougher to sell.
And the building has serious curb repel.
Great location, b-/c+ building.
That outdoor space is really nice. I could see myself living someplace like this if I’m ever able to retire. Although, I’m sure it would be above my budget, but it’s a great place if you have a pet, the money, and don’t need a home office.
“What is “worthy”? Units in 1970s buildings shouldn’t be renovated? Or are you just saying they over renovated with the Italian cabinets etc. for this particular building and could have spent less?”
They spent more on finish than “should” be spent in the building. They could have had the same style using cheaper materials (IKEA+) and had a greater chance to get more of their investment back. Just the kitchen alone had to be $100K+. Hopefully, the owners, feel they got their value out of the finishes even if it loses money.
“I love the bleached oak floors in this unit. Very classy and neutral.”
A marked improvement over gray vinyl often seen with the style.
Another beautiful example of over remodeling in a 1970’s building with similar detractions: https://www.zillow.com/homedetails/100-E-Bellevue-Pl-APT-24A-Chicago-IL-60611/3846881_zpid/
“Another beautiful example of over remodeling”
but somehow not even the most expensive *A* unit currently listed:
https://www.redfin.com/IL/Chicago/100-E-Bellevue-Pl-60611/unit-6A/home/14123511
What are the folks with 6A thinking??
And 10B just sold for $700k:
https://www.redfin.com/IL/Chicago/100-E-Bellevue-Pl-60611/unit-10B/home/14123559
I think B is SE and A is NE, and both of them with views obstructed by the Carlyle, so which is better seems more a personal preference than hard reality.
Dunno that 24A is overdone, other than the possibly questionable “removing” of a bedroom.
“What are the folks with 6A thinking??”
I don’t know the comps in this building, but putting in designer finishes is pretty common in the Gold Coast, in ALL buildings. I’m not sure I’d do it in one that didn’t allow in-unit W/D (and I’m always surprised that you CAN put it in some of these units but they remodel and still don’t put it in. But perhaps the rule change was recent.)
If you were simply flipping the unit, yes, you wouldn’t put in as high of quality. But if you’re living in it for 5 years or 10 years, why not? You want what you want.
There is a BIG difference in putting in integrated SubZero appliances with Italian cabinets and putting in an IKEA kitchen, even with custom made door fronts and nice appliances.
I think many of these buildings DO need owners to update their units to compete with newer construction and apartment buildings with modern finishes.
“A marked improvement over gray vinyl often seen with the style.”
Gray is already going out, thank goodness. I’m okay with the vinyl in a basement or some other area with a lot of kids and dogs. But if you’re asking premium price, then you should have the nicer floors.
I realize it’s very expensive. This is why most don’t want to do the renovation themselves. They want it all done already.
““What are the folks with 6A thinking??”
I don’t know the comps in this building, but putting in designer finishes is pretty common in the Gold Coast”
You didn’t look.
6A, while nice, does not appear to be as expensively finished as 24A, and is asking over $80k more.
And 6A is listed as a 3 bed, but is described as 2+den, so it’s not that.
What are the folks with 6A thinking??
Glad to hear that gray is going out of style. I like gray in certain situations, but when an entire house is gray from cabinetry to floors to walls, it makes me feel like my vision has gone wonky.
Strange unit. Going to be hard to find someone who wants to pay over $600,000 for a one bedroom, despite the size and outdoor space. Low floor, for one thing. Twice as much as most area one bedrooms, as well, though obviously much larger.
I’m not a fan of the interior, but maybe others would like. There are way too many dull 1960s and 1970s buildings in this area and I don’t think there’s huge demand to pay up for units in them.
This one is still available, now at $599k.