A 2-Bedroom Penthouse With Lake Views: 6145 N. Sheridan in Edgewater
This 2-bedroom in the Tiara at 6145 N. Sheridan in Edgewater came on the market in March 2019 (sorry- I don’t have a picture of this building).
The Tiara was built in 1970 along Lake Michigan and has just 50 units.
It’s a full amenity building with an outdoor pool, exercise room and 24-hour doormen. It also has an attached rental parking garage.
The listing says this unit is the only one in the building with a built-in fireplace.
It also says it was “fully remodeled” with an upgraded open kitchen with new stainless steel appliances. It has white cabinets and a black and white tiled floor which is now popular in design magazines.
The unit has a balcony which the listing says faces the lake.
The listing says the building has installed new windows, there’s been balcony work, a new roof and tuck pointing.
It has wall unit cooling, but no in-unit washer/dryer. There’s coin laundry in the building along with leased parking.
This building has two addresses, both 6145 and 6147, if you’re looking for units.
Originally listed at $279,900, it has been reduced to $274,500 for 1600 square feet.
Are high rises right on the lake in Edgewater a deal?
Ioannis Floros at Fulton Grace has the listing. See the pictures here.
Unit #30A: 2 bedrooms, 2 baths, 1600 square feet
- Sold in August 2002 for $190,000
- Lis pendens foreclosure filed in May 2018
- Bank owned
- Sold in January 2019 for $177,000
- Originally listed in March 2019 for $279,900
- Reduced
- Currently listed at $274,500
- Assessments of $993 a month (includes doorman, cable, pool, exterior maintenance, scavenger and snow removal)
- Taxes of $3117
- Wall unit cooling
- No in-unit washer/dryer (coin laundry in the building)
- Bedroom #1: 18×15
- Bedroom #2: 13×12
- Balcony: 15×5
Still doing coin laundry when owning and paying $900+ HOA – No. The fireplace brick carried over to the breakfast bar wall – No. Those times floors in the kitchen – No. I feel like that type of floor tile has to get tiring and will look so dated very soon.
“those *tiled floors in the kitchen”
totally agree – pic 7: brick, floor tile, and backlash all together is a cluster.
also, what is that cable coming out of the fireplace?
I like the unit, but not so much the kitchen tile floors. The view from the balcony is nice as well. But the main thing with these LSD/Sheridan Rd. condos is the high assessments. Carrying costs (HOA + tax) would be approx $1,300/mo. Wouldn’t that be almost like just renting a comparable unit (approx. $1800-$2,000/mo rent)? What are HOAs like in other high-rises closer to downtown?
Is that why these units seem to go for such a low price? Also why bother having an outdoor condo pool when you are right on the lake? can’t you just go to the beach (a block away)?
This unit in another building (although already under contract) seems intriguing.
https://www.redfin.com/IL/Chicago/5757-N-Sheridan-Rd-60660/unit-7B/home/13408933
Right on Hollywood beach, with Lake & Beach views. Priced at $130k, but the unit needs major work (new kitchen, baths, flooring). Assessments about the same. But priced much much lower with better views.
“This unit in another building (although already under contract) seems intriguing.”
That will be nice after it is stripped down to the sheetrock, and 100% redone.
Here’s the city view equivalent, redone:
https://www.redfin.com/IL/Chicago/5757-N-Sheridan-Rd-60660/unit-7H/home/13407904
I suppose the lakeside has a 15-25% premium, so figure this place would be worth ~$210k after a reno. If you’re acting as your own GC (or DIY’ing), could make sense, but not by too much.
The high HOA cost is driven by the staff. A 24-hr door staff and a 24-hour maintenance staff, means about a dozen people. That’s not cheap. In this building, it means $1,000/mo HOA assessments.
The listing says “balcony facing the lake”, which doesn’t seem correct. It looks like the lake is east, while the balcony faces south. Clearly, the lake is visible from the baloney, but maybe not from inside the unit. No interior photos have much of a view.
I like the unit, but not so much the kitchen floor tiles (what were they thinking?).
“I like the unit, but not so much the kitchen tile floors.”
What’s your demographic? Older than Millenial? Just curious. I was looking to put this in a unit for sale. The wise part of me knows this will be outdated and show it’s age now but in person it pops and I think new buyers like it since it’s also featured on everything HGTV flip shop or whatever.
The kitchen floor tile would work fine in a smaller space. Adding the full height arabesque backsplash makes it look too busy. Perhaps a white subway tile with white grout would work better. Too many patterns going on.
OMG. This is one of the ugliest condos I’ve seen in a while.
Some quirks of this unit:
1) Why are there two entrance doors? one in the kitchen, and one in the hallway adjacent to the kitchen?
2) Does the fireplace work? Why do they have a flower pot in the fireplace?
3) Awkward electric cord pulled from the ceiling to center the lighting fixture over the dining table.
4) Which way is the balcony facing? doesn’t look to be directly at the lake. wonder what kind of views from within the unit?
1) That wasn’t uncommon – that was the door for the help. Seriously. It also might count as a second exit if the distances are long enough within the unit.
2) I bet that’s a decorative fireplace. I want to know what the grills are in the ceiling – are they for the heating and air conditioning or leftover light fixtures of some kind.
4) It looks to me like the balcony faces the lake.
I think it’s the Tiara, it’s been a while, but I think this is where the garage is a separate legal entity that is not owned by the residential entity. I.e. it’s a private owner renting to the condo owners (kinda like Marina City).
It rather looks like the balconies in this building *only* face the lake–there are no west-facing balconies, and do not appear to be any facing north or south. There do appear to be the setback ones and ones that are on the east-most face of the building, and this one appears to be one of the setback ones on the north side–which would really limit the direct sunlight for half the year.
I bet the spiders will be out of control on that deck
Not my favorite unit. Needs a lot of work and no direct lake view.
I find this stretch of high rises intriguing, but when I look at condos for sale (online) the photos almost always disappoint. And there are better buildings than this one along that stretch.
I like the building below better, though the unit is at a much higher price point.
https://www.zillow.com/homes/for_sale/fsba_lt/house,condo,townhouse_type/3691305_zpid/3-_beds/300000-_price/1135-_mp/41.994221,-87.651914,41.989365,-87.659639_rect/16_zm/
Agreed, I like the views from this unit much better as well. If I am going to be paying $1k in HOA, I expect a direct view of the lake & beach from inside the unit (not only through going out on the balcony, which would really take away from the view during the cold of winter). The one at 5757 Sheridan that I posted earlier has an ideal view of the beach and lake with beach access literally downstairs.
“Not my favorite unit. Needs a lot of work and no direct lake view.
I find this stretch of high rises intriguing, but when I look at condos for sale (online) the photos almost always disappoint. And there are better buildings than this one along that stretch.
I like the building below better, though the unit is at a much higher price point.
https://www.zillow.com/homes/for_sale/fsba_lt/house,condo,townhouse_type/3691305_zpid/3-_beds/300000-_price/1135-_mp/41.994221,-87.651914,41.989365,-87.659639_rect/16_zm/ “
Lazy photographer. Why leave a random flower pot in the fireplace. Or a random chair sitting in front of the stove? Isn’t there enough going on in that kitchen? I feel like that chair is there so you can gas yourself after the reality that you live there kicks in. Are they trying to sell this place or not?
“I like the unit, but not so much the kitchen floor tiles (what were they thinking?).”
The kitchen floor tile pattern is very fashionable these days. It is probably ceramic or porcelain, but the pattern is a classic one for “encaustic” tiles, which are cement tiles, and all the rage. The photos make the kitchen floor look way more expansive than it is, so the pattern is probably not as omnipresent as it appears.
Having said that, I recently retiled the floor of a large bathroom and considered similarly patterned encaustic tiles, but balked at the last minute because I was uneasy about how long the fashion would last. It’s a big job replacing tiles, so I did not want to risk doing something that would be outdated in 10 years. I ended up installing instead very boring 12″x24″ griege porcelain tiles with a striated stone look.
@GoneFishin wrote “Lazy photographer. Why leave a random flower pot in the fireplace. Or a random chair sitting in front of the stove? Isn’t there enough going on in that kitchen? I feel like that chair is there so you can gas yourself after the reality that you live there kicks in. Are they trying to sell this place or not?”
Since when is any of that the photographers’ job? That falls squarely on the person trying to sell the unit, in this case a flipper whose attention to detail (flower pot, chair, excessive use of loud tile), is very questionable. My guess even is that the photographer’s insurance doesn’t covering them touching other people’s stuff, no matter how trivial.
Chiming in from the Tiara, let me make some clarifications on the building. All units have lake facing balconies. There are 4 tiers, The A units 2/2 and the D units 3/2 (huge) are setback, whereas the B & C units 2/2 are pushed forward toward lake. B & C units, I’m in 1, have superior lake views. I have 15’ of glass – sliding doors & windows in living room, out to 15’ terrace. Plus, 9’ windows counter height to ceiling in kitchen. If you want lake views, this is it.
100 units. 1 parking space included with assessments, possibility to rent a second space, if available, but you do get 1 space. Also have guest parking, which is huge plus when have visitors.
The true advantage is now, this building has undergone EXTENSIVE renovation – all new windows, sliding glass doors, tuckpointing, new balconies & railing. Truly major work has been done. Having lived thru the process, I will tell you, in these old condo buildings built 1968 & onward thru 70’s, and quite frankly, any building, YOU WANT SOLID, UPGRADED WINDOWS. Ours are hurricane rated.
As far as units, it’s hit and miss, you will find rehabber dreams, many people have lived here 40 years or fully updated, modern, current style units, like mine. I did a total rehab of a 90’s rehab. Hahaha.
It’s all about the sound of waves crashing, colors of sky & lake, the view is SUPERIOR. And it’s quiet, too, not facing city sounds for the B & C units.
Did Tiara get hit with a huge special assessment to renovate the windows and tuckpointing? If so, how much was the special assessment?
Yes, we did have a special assessment to pay for all this work, which is a massive undertaking. Tiers and each individual unit are assessed differently based on square footage & floor. Higher up = higher assessment. So, they’re all different. The good thing is the building is in the homestretch of upgrades.
I really want to point out again, how incredibly important it is to make sure you have upgraded doors & sliding doors in a condo purchase. There’s potential for big water infiltration in storms, especially if you’re facing the wide open lake. If I ever buy another condo, it will be the first question I ask, how old are the doors & windows?
“Yes, we did have a special assessment to pay for all this work, which is a massive undertaking.”
Thanks for checking in with details Tiara Person. It’s helpful.
At least we know that the seller is paying for all the upgrades and not any of the new buyers. Once you replace windows and sliding doors, it takes quite some time before you have to do it again. Same with elevators, roof.