A 3-Bedroom Penthouse with Private Terrace for $1,099,900: 849 N. Franklin in River North
This 3-bedroom penthouse at Parc Chestnut at 849 N. Franklin in River North came on the market in August 2022 and then was removed from the market and now has come back on in January 2023.
Built in 2006, the Parc Chestnut has 261 units and attached garage parking.
It has doorstaff, 2 large outdoor terraces, an exercise room, bike storage and a private park.
The listing says this unit has been “redesigned and refinished.”
It’s a corner unit with a separate dining room.
It has a chef’s kitchen with 54″ white and wood Italian cabinets, Subzero, Wolf and Bosch appliances and quartz countertops with an island that seats 4.
The primary suite has an en suite bath with a walk-in-shower, tub and double floating vanity. It also has a walk-in-closet.
One other bedroom also appears to be en suite. Does the third bedroom have a window?
The unit has a separate private storage room.
It has the features buyers look for including washer/dryer in the unit, central air, and 2-car parking (tandem?).
The unit also has a private outdoor terrace with what looks like north and west sunset views with water and gas hook-ups.
This building is near the shops and restaurants of central River North and the Gold Coast and is near the brown line Chicago stop as well as several bus lines.
Listed in August 2022 at $1,099,900, it has come back on the market in January 2023 at the same price.
It was originally listed just as rates were going to 7% but now, in 2023, they are declining back to 6%.
Will the timing be better to make a sale on this penthouse in 2023?
Steven Power at Century 21 SGR has the listing. See the pictures here (sorry, no floor plan).
Unit #1603: 3 bedrooms, 3 baths, 2000 square feet, penthouse
- Sold on May 25, 2007 for $696,500
- Sold on May 29, 2007 for $865,000 (remember when people used to buy new construction and flip it days after closing for more? Those were the days)
- Sold in February 2017 for $980,000
- Originally listed in August 2022 for $1,099,900
- Withdrawn
- Re-listed in January 2023 for $1,099,900
- Assessments of $1332 a month (includes heat, a/c, gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $14,069
- Central Air
- Washer/dryer in the unit
- 2-car garage parking included (tandem?)
- Bedroom #1: 18×12
- Bedroom #2: 18×14
- Bedroom #3: 11×10
- Living room: 30×16
- Dining room: 13×12
- Kitchen: 14×9
- Laundry room: 7×4
- Walk-in-closet: 10×6
- Walk-in-closet: 6×5
- Terrace
This is the least interesting > $1MM property ever
These mid 2000 façades are not aging well
I like the corner/L shape of the LR/kitchen/DR/terrace. But for the price, I imagine a lot of folks would like a hall or something into the bedroom, rathert than directly off the living area like this.
Summer afternoons are probably a little too bright for a few hours. This same unit but on the east side avoids that and has cooler views. But I bet the sunsets can be epic.
“These mid 2000 façades are not aging well”
Entrance is decent looking, rest of the street-level would be, too, if the windows were something, rather than whited-out nothing. Is all of that just garage? Or could any of it become exterior facing with more local foot traffic (coming when North Union is built out).
Everything above the street level was always blah. Now it’s slightly dirty blah.
It seems a lot of the whited-out windows might indeed be garage space. It sucks how the first several floors of so many building are visible garages or like this. If only more could be built underground.
It’s nice that there is a park across the street from this building.
“a park across the street”
Owned by this Condo Association, right?
“Owned by this Condo Association, right?”
I don’t know. The developer might have had to put it in, like the Lakeshore East one, as a condition of building the building.
“Owned by this Condo Association, right?”
Checked that, too–the entire park is also part of the association.
“Entrance is decent looking, rest of the street-level would be, too, if the windows were something, rather than whited-out nothing. Is all of that just garage?”
It’s a real shame that they didn’t make them put in retail in the base in 2006. But back then, this location wasn’t the greatest. I think they were more concerned with security than anything else. Nothing else really around here.
But now, it just makes the street feel dead. No life.
“Checked that, too–the entire park is also part of the association.”
I wonder how it works? Do you need a code to enter it? I’m assuming it’s fenced in. How much does that cost to maintain, I wonder?
At least you know nothing will be built there and your views blocked.
Nice deck and good location, but I’m not sure it’s smart to pay so much for the best unit in this particular building, especially considering there’s nothing in the unit that really stands out. I’ve been checking a lot of luxury rental units in the area and this doesn’t seem a whole lot of an upgrade.
“the best unit in this particular building”
Not remotely close to the best unit, which is (probably) this one:
https://www.redfin.com/IL/Chicago/849-N-Franklin-St-60610/unit-1607/home/26812325
Do think this one is asking a little too high, but they’re anchored to their purchase price, which was also a little too high.
“Not remotely close to the best unit, which is (probably) this one:
https://www.redfin.com/IL/Chicago/849-N-Franklin-St-60610/unit-1607/home/26812325”
Is a TV built into the primary suite bathroom mirror? Trying to figure out why there’s a different color rectangle built into the mirror.