A 2 Bedroom 1915 Co-op With “European Charm” in the Gold Coast: 6 E. Scott
This 2-bedroom in the co-op building at 6 E. Scott in the Gold Coast came on the market in July 2021.
Apparently we have never chattered about this building. It’s the 7-story building on the left in the picture above. I know I have a better picture somewhere in my collection but I did manage to take a picture of it just a few months ago because you can’t miss it on this street so I’m going with it.
Built in 1915, it is a co-op and has just 14 units. The building has a rooftop deck with views of the Hancock, a garden and grills.
The listing also says there is an on-site manager/engineer.
This unit has been “renovated” and has “European charm.”
It has some of its vintage features including tall ceilings and crown moldings.
It has a marble private foyer with dual chandeliers, and a living/dining room combo with a wood burning fireplace.
The kitchen is “updated” and has white cabinets, stainless steel appliances and stone counter tops.
It’s a split floor plan and the primary bedroom has a walk-in-closet.
The unit has the features buyers look for which are rarely found in vintage units including central air and washer/dryer in the unit.
It doesn’t have parking, however, but there’s a transferrable garage parking space available across the street for $310 a month.
This building is near the shops and restaurants of the State/Rush/Division corridor, the Farmers Market on Division and the Jewel on Division.
Originally listed in July 2021 for $599,900, it has been reduced $49,900 to $550,000.
Is this a deal?
Jennifer Mills at Jameson Sotheby’s has the listing. See the pictures and floor plan here.
Unit #1: 2 bedrooms, 2 baths, no square footage listed, co-op
- Sold in February 2010 for $285,000 (per Zillow)
- Listed in July 2021 for $599,900
- Reduced
- Currently listed at $550,000
- Assessments of $818 a month (includes heat, cable, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes aren’t listed. With co-ops, they’re usually included in the HOA but it doesn’t list the taxes as included in the listing. ???
- Central Air
- Washer/dryer in the unit
- Transferrable garage parking across the street for $310 a month
- Wood burning fireplace
- Bedroom #1: 11×13
- Bedroom #2: 15×10
- Living/dining combo: 16×18
- Kitchen: 11×7
- Walk-in-closet: 6×16
If taxes are included in the $818 fees price that also includes most utilities, this is an amazing deal, especially for a building with a live in engineer.
Well-presented, well-photographed, gracious entry, lovely kitchen, bathtub, lots of storage, reasonably priced, beautiful. I know it’s much smaller than yesterday’s listing, but I rather this place.
However, if I had the money, I’d like live a block over: https://www.redfin.com/IL/Chicago/30-E-Scott-St-60610/home/14124430
This is tiny, maybe 850sf
Not a fan of pushing the DR table against the wall to give the impression of more space, would bet that in person, this seems really cramped
Layout is pretty inefficient.
Dont think the taxes are in with the posted HOA fees, pushing the monthly nut to $4k (w/ parking)
Might make a nice P-A-T for the right couple
Which one of the doors is under the stairs?
“This is tiny, maybe 850sf”
Think that’s a little bit of an undersell, unless the FP has totally fake measurements.
“If taxes are included in the $818 fees price”
Seems unlikely, as the tax share is almost $600/month–no way the assessment is under $250/month.
“Not a fan of pushing the DR table against the wall to give the impression of more space, would bet that in person, this seems really cramped”
And with no overhead lighting, they must use those candles a lot. (Having flipped our living/dining, I will say that lighting is not an easy solve with an otherwise brilliant layout alternative.)
Nice unit and nice building, but always a bummer to be paying building rates to be on the ground (and is this unit’s door right in the lobby?).
Broker’s private remarks include “Total Monthly assessment is $1,452.64/ Month which includes the monthly real estate taxes”
“ Broker’s private remarks include “Total Monthly assessment is $1,452.64/ Month which includes the monthly real estate taxes”
Good eye Jack.
Still seems like a unique proposition. The general population outside the 1% is generally prohibited from buying into these Gold Coast smaller well-kept vintage buildings with units in the millions and monthly co-op fees in the several thousands. The other units in the building are paying north of $4K / mo in fees.
If you can get past it being ground level, here is a way for normal working professionals to get a Gold Coast nicely kept unit in a smaller well-maintained vintage with live in building engineer.
If I’m wrong, please show me some examples illustrating otherwise because I haven’t been able to find them :).
“If I’m wrong, please show me some examples”
Looking only at current listings, this is the closest (also two other units in the building):
https://www.redfin.com/IL/Chicago/1120-N-Lake-Shore-Dr-60611/unit-12C/home/108272329
*assuming* that the listed ass includes taxes, it’s ~$450/mo more, but is a bigger unit (tho not 1600 sf) and not on the ground floor.
“If taxes are included in the $818 fees price that also includes most utilities, this is an amazing deal, especially for a building with a live in engineer.”
It’s not though, right?
This is a lovely block. I think this would make a good in-town, especially as you can just park across the street.
“Broker’s private remarks include “Total Monthly assessment is $1,452.64/ Month which includes the monthly real estate taxes””
Thanks Jack. Why don’t they put that in the public listing? It’s things like this that could prevent it from selling. Buyers like to see what they are paying up front and they look on Redfin/Zillow first.
I don’t think this is just for an in-town. There is enough closet space for a single person without a car to reside full time. Sure, it would be nicer on a higher floor, but might work for the rare individual afraid of heights who still chooses to live in an area known for highrises.
It’s not cool if the true assessments and taxes are only listed in the non-publicly available notes.
“ If I’m wrong, please show me some examples”
“1120 n Lake Shore”
Not a bad comp in terms of building period and location, but 1120 is 60+ units, whereas 6 E Scott is just 13. I was referring to smaller buildings (less than 20 units) in my initial remark.
“Sure, it would be nicer on a higher floor, but might work for the rare individual afraid of heights who still chooses to live in an area known for highrises. ”
——————————
Now THAT’s an untapped market! Question for you: How many unicorns have you seen schlepping half a mill + around here?
“Now THAT’s an untapped market! Question for you: How many unicorns have you seen schlepping half a mill + around here?”
There are some odd people out there. On the Southwest Chief Amtrak train, I met a travel nurse going to work in Garden City, KS who was afraid of driving and flying. If she is like the travel nurse I know who lives in Airbnbs in Missouri, she made $300k+ last year.
“If she is like the travel nurse I know who lives in Airbnbs in Missouri, she made $300k+ last year.”
Travel nurses are making between $5,000 and $8,000 per week right now. Good for them.
For KK
““ If I’m wrong, please show me some examples”
“1120 n Lake Shore”
Not a bad comp in terms of building period and location, but 1120 is 60+ units, whereas 6 E Scott is just 13. I was referring to smaller buildings (less than 20 units) in my initial remark.”
then how about 50 W Schiller as a comparable? I can’t tell how many units, but also a unique low / mid rise also with paid next door parking
Does 1120 have a roof pool? I can’t get the link right to show the aerial view.
Does 1120 have a roof pool?
No–peaked copper roof.
No on-site building engineer at 50 w Schiller from what I can gather. You’re also looking at co-op fees north of $2K.
Beautiful street but no way I’d ever buy a ground-floor apartment. It looks dark in every room.
1120 LSD in the news:
https://www.chicagobusiness.com/residential-real-estate/gold-coast-chicago-co-op-owners-fight-over-shared-hallway-mural
for KK
“No on-site building engineer at 50 w Schiller from what I can gather. You’re also looking at co-op fees north of $2K.”
and the Schiller units are duplex and there is an amazing courtyard…
it sounds like if there was another 16 unit building you might point out the difference in composition of the board
for anon tfo
regarding the linked 1120 unit.
2 bedroom and 2 full bath with access to both bathrooms via the bedroom.
is that typical for this per-war era of construction in Chicago?
“is that typical for this per-war era of construction in Chicago?”
Yes. Why would anyone want the bathroom to be in a public area of the home?
“it sounds like if there was another 16 unit building you might point out the difference in composition of the board”
We also have no idea about the reserves of either building, do we? Or what things have been done in recent years.
Some buildings have lower assessments and then pay for repairs through special assessments. Others do not.