Gold Coast 1-Bedroom with 650 Square Ft Terrace Is Now a 2-Bedroom for $550,000: 1516 N. State Parkway
This 2-bedroom in 1516 N. State Parkway in the Gold Coast came on the market in June 2025 but has been on and off the market since.
Built in 1974, 1516 N. State Parkway has 64 units and attached rental parking.
The building has just 4 units per floor, door staff, an exercise room, an outdoor pool, common areas near the pool with grills and a television viewing area, a live-in engineer, and a laundry room.
If it looks familiar, that’s because we last chattered about it in August 2022 when it was a large 1-bedroom.
It was a 3-bedroom originally but many of you in 2022 thought it would be nice to have an office space instead of just 1-bedroom.
You also thought they may have “over” updated it with the luxury appliances and cabinetry.
See our August 2022 chatter here.
They listened to your gripes about the office because the unit has come back on the market as a 2/2 with the second bedroom now a guest suite, home office or “creative studio.”
The rest of the unit is still the same.
There is bleached white oak wide plank flooring throughout.
The guest suite/office 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 full-size wine fridge. In the last listing it also had a built-in espresso machine.
The unit has floor to ceiling windows, and in the last listing it had remote blinds, that look out over a private 650 square foot walled terrace which has grass, concrete and planters.
The building allows pets so you could have a space for your dog right outside your door.
It has some of the features buyers look for including central air and rental parking is available. In 2022 it was $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 June 2025 for $650,000, it has been reduced to $550,000. This is $10,000 below the 2023 sales price.
What will sell this unit in 2026?
Olivia Pulley at eXp Realty has the listing. See the pictures and floor plan here.
Unit #5D: 2 bedroom, 2 baths, it was 1415 square feet in 2022 but no square footage is listed now
- Sold in November 2106 for $384,000
- Originally listed in April 2022 for $625,000
- Sold in April 2023 for $560,000
- Originally listed in June 2025 for $650,000
- Reduced several times
- Currently listed at $550,000
- Assessments are now $1414 a month (they were $1438 a month in August 2022)(includes heat, a/c, doorman, cable, Internet, exercise room, outdoor pool, exterior maintenance, scavenger, snow removal)
- Taxes are now $9435 (they were $8217 in August 2022)
- Central Air
- No washer/dryer in the unit (laundry room in the building)
- Rental parking (was $190 a month in 2022)
- Bedroom #1: 13×17
- Bedroom #2: 12×17
- Living room: 9×17
- Kitchen: 14×10
- Den: 15×21???
- Terrace: now 50×26
I think it is a fun unit. The price is fine but no in Unit Laundry is a deal breaker for me and for many. I know folks are going to say the HOAs are high but in reality they are reasonable for the age of the building and services. As a comparison, I own in a 2007 building 2/2 (laundry and terrace) and my HOAs are around 800
the views of a wall from both the living area and bedroom is a big deterrent.
Floors in the kitchen and entry area looking a little rough in the virtual tour. In addition to a dog I am guessing these folks wear outside shoes inside. Is this for an exhibitionist or does the glass in the bathroom darken when occupied?
“I know folks are going to say the HOAs are high but in reality they are reasonable for the age of the building and services.”
It doesn’t get any cheaper as the building ages, that’s for sure.
“the views of a wall from both the living area and bedroom is a big deterrent.”
It’s definitely not a typical high rise view. But if you have flowers and plants out there it could be quite lovely.
“ folks are going to say the HOAs are high ”
Lower psf than Marina City with a TON more included.