The $209,000 1-Bedroom in the Gold Coast: 201 E. Chestnut
We just chattered about one of the most expensive 1-bedroom condo units in the Gold Coast at 10 E. Delaware but what if you’re looking for something cheaper?
This 1-bedroom at 201 E. Chestnut has 1030 square feet plus a balcony.
The kitchen has been updated with white cabinets and appliances.
It has parquet floors throughout.
The unit has central air but no in-unit washer/dryer. However, the building apparently does allow the washer/dryer to be put in.
There is rental parking in the building.
The building also has an indoor pool.
Is this a deal for the area?
Cheryl Mitrick at Real-Tek Realty has the listing. See the pictures here.
Unit #7F: 1 bedroom, 1 bath, 1030 square feet
- Sold in June 1989 for $90,000
- Sold in December 2002 for $240,000
- Originally listed in August 2009 for $275,000
- Reduced
- Currently listed for $209,000
- Assessments of $425 a month (includes cable, pool, doorman)
- Leased parking for $165 a month
- Taxes of $3144
- Central Air
- No washer/dryer in the unit
- Balcony
- Bedroom: 17×12
The price sounds right for this roomy one-bed. Very nice apartment that has everything it needs, in top location.
No SS :), i am so happy to see white appliances complement the kitchen.
Wow. Cheap!
err…Bleh interior.
I wonder what makes an older building desirable vs. marginal the older the building gets. For example, this building vs. say the John Hancock.
My first impression is that this is pretty reasonable. Lowish assessments, cheapish parking, reasonable taxes, etc. Not bad!
great deal in a well-run building. the assessment reflects a tight budget.
Spacious for a 1 br, but you have to factor in the cost to replace those hideous floors. Parquet is just awful.
Perfect for an ambitious DIY-er… looks like a good candidate to knock down the kitchen walls, add an island, and redo the parquet w/ ‘modern’ h/w floors. Add the w/d in-unit. If you lived here 5-7 years and did the changes, I’m betting you wouldn’t lose money.. and the chance of making a bit of money is there, too IMO.
I like the brick herringbone-look on the balcony.
If I wanted a 1BR, I’d make a bid. Or, I wish I had a bit saved for an investment property. Plenty of doctors/nurses in the area.
Any idea what the view is like? They don’t show it in any of the pictures so it makes me a wee bit skeptical…
I *believe* the F units in this building have a south view, which is entirely blocked in. That said, the balconies are good sized and the building is very well run. The pool is nice, too, and the location is top-notch. The interior of this unit is blah, but the building is solid.
I like this building and actually tried to buy a unit a few years back. I got outbid in a bidding war on a similar unit (2006ish? and I think I bid 244K). It was a bit more updated with the W/D installed in the kitchen.
I see nothing wrong with parquet floors. I currently have them in my apartment (rental), and I think they look nice. They are much more environmentally friendly than plain hardwood flooring, as they allow the use of smaller pieces of wood.
On a completely different topic… I wonder how the CTA cuts with affect property in Chicago. My regular busses were already crowded before the cuts.
So what happened to all the folks that said don’t buy but rent 1 bdrms…
I like parquet too! You can refinish them and then would look great, maybe darker?
“So what happened to all the folks that said don’t buy but rent 1 bdrms”
I am still here and STILL SAY RENT 1 bedrooms. have a nice day, groove out
south views should be decent as there is a short little building on pierson to the s. this building has some character. some sort of funky asian theme in the design. nice pool too.
On a cash flow basis this would make sense to purchase and rent out. Most 1BR doorman buildings are at least $1,500 before parking in the area.
Not a bad place at this price, nice and large. You could easily open up the kitchen by knocking down a wall.
Only thing I would be concerned about is the electric heating. Maybe that’s why the assessments aren’t as high as I’d expect.
Just took the 157 Streeterville bus from that area this morning, and there weren’t any noticable delays. Crowds aren’t a problem since this is one of the first stops.
Who cares about the floors. Are those seven-foot ceilings? Was this building designed for Hobbits? I would never, ever buy in a building where the ceilings are so low that there’s no wall space above the doorways. I don’t have many deal breakers, but two big ones are never live below ground and never live in a place with low ceilings.
I absolutely love parquet, but not the square-block pattern in this apartment.
I prefer the herringbone, and will pay a premium for a place that has it.
CH, you’re correct that south views are good, not sure if this unit clears the building on Pearson. The building on Pearson is about 8 stories tall-this was where Mies lived.
Parquet is very appropriate for this unit. This building had it’s lobby redone a couple of years ago.
I have looked at several units in this building. The building is nice and is well-maintained, well located. The unit — well, I haven’t seen this one (it is indeed south-facing, by the way), but I got all excited when a 2/2 went from $499k to $439k over a period of some months, and the pictures showed it to be updated and really nice. Plus a great balcony. Well the place was a dump with low popcorn ceilings and cheap!cheap! crappy renovations. The moral of the story is don’t let pictures fool you into forming any type of strong opinion. (And I read recently of someone buying a houseonly relying on interest pictures and hype!)
I put an offer on a unit in this building earlier last year. Loved the building and the location. However for you would be investors, this building rules requires a landlord to own the unit at least 12 months before it can be rented out.
I looked at this home and it has 8′ ceilings and its a good price. 9-E (same floor plan) sold a few months ago for $200,000
it was an estate sale needing complete gut / facing south.
7-F is also south facing, view is of another building & and the building is close.
Home has new cabinet fronts and new counter tops, bath looks to have been redone in the past year or so. The place feels bigger than 1050 sq.ft. Its located one block east of Michigan and makes it feel alittle more of a neigborhood.