A 3-Bedroom River North Penthouse for $825,000: 345 N. LaSalle
This 3-bedroom penthouse in The Sterling at 345 N. LaSalle in River North came on the market in October 2021.
Built in 2002, The Sterling is 50 stories and has 389 units and an attached rental parking garage.
It has full-time door staff, an on-site manager and engineer.
The building has 2 fitness rooms, an outdoor lap pool, outdoor tennis court, a sundeck with seating and firepit, grills and a dog run.
This penthouse is on the 48th floor which puts it on one of the skydeck and penthouse floors which were floors 32 to 48. In 2002, these units had upgraded kitchens.
This unit has curved floor-to-ceiling windows with views North, West and “some” East of the city and lake.
The listing says it has new hardwoods in the main area and new carpets in the bedrooms.
The kitchen has wood cabinets, what look like granite counter tops and stainless steel appliances.
The listing says the baths are “updated.”
The primary bedroom has an en suite bath.
The unit has central air, washer/dryer in the unit and rental parking is available in the attached garage but it doesn’t say how much per month.
This appears to be the first sale since the original 2002 sale, when the building was all the rage for buyers in River North.
Listed at $825,000, is this a deal for a 3-bedroom penthouse with views?
Danula Urbikas at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.
Unit #4801: 3 bedrooms, 3 baths, 1740 square feet
- Sold in January 2002 for $579,000
- Currently listed at $825,000
- Assessments of $1115 a month (includes heat, a/c, doorman, cable, exercise, pool, exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $13,595
- Central Air
- Washer/dryer in the unit
- Rental parking in the building
- Bedroom #1: 20×14
- Bedroom #2: 16×13
- Bedroom #3: 13×13
- Living/dining room combo: 20×16
- Kitchen: 15×9
- Walk-in-closet: 8×4
- Foyer: 10×9
This is a lower/middle tier apartment finish level today
In Wall units are not “Central air”
Common area is really small if used as a 3Br
Rental equivalent is around $6800/mo w/parking
I guess the value at least kept up with inflation
Some background on the building for those not familiar with its past.
https://www.chicagomag.com/real-estate/july-2010/gouletas-son-short-sells-sterling-penthouse/
The renderings of the 14th floor deck renovation are from September 2015 and all the pictures the realtor included appear to renderings of that area. I have a feeling this project is not finished. Anything that takes six years to (not) complete strike me as a red flag.
“Some background on the building for those not familiar with its past.”
“Cook County Recorder of Deeds files show that in 2003, Gouletas bought two adjacent 47th-floor units—one for $445,000, the other for $582,000; the total was $1.027 million—from American Invsco, the firm that his father, Nicholas S. Gouletas, launched in the 1960s and built into one of the nation’s biggest condo developers”
LOL – Explains a lot
Reminds me of a lower end version of Trump residences.
(I’m referring to a piece of architecture, not making a political statement).
I wish they had carried the floor to ceiling windows into the bedrooms. It’s weird to go from a living area with gorgeous windows into bedrooms with smaller windows that don’t extend to the floor.
“the original 2002 sale, when the building was all the rage for buyers in River North”
It was a 2/2/2 property. Foreclosure King of Chicago, as mentioned here on CC:
https://cribchatter.com/?p=170
“these units had upgraded kitchens”
Thank goodness, otherwise the refrigerator probably wouldn’t have lasted 20 years. Newer dishwasher, tho. Likely the apartment-size, original, laundry machines, too.
“Likely the apartment-size, original, laundry machines, too.”
The building was originally built to be an apartment building but the condo craze had taken off so everyone was converting as much product as they could.
The “upgrades” were only in the kitchen and only on the high floors. I’m kind of surprised we haven’t seen a total gut of one of these units by now. They are nearly 20 years old.
Nothing wrong with the “original” washer/dryer as a GE repairman told me anything from the 90s and early 2000s was built much better (if they are GE units) than those of the last 10 years so if you have “old” one, you should keep it as long as you can.
“In Wall units are not “Central air””
A/C is included in the assessment. It doesn’t have “in wall units.”
Assessments seem super reasonable for this size condo in this neighborhood. The building finishes are mediocre, but there are some nice amenities.
Assessments seem super reasonable for this size condo in this neighborhood. The amenities look great too.
Isn’t the 7-11 on the ground floor of this building the one that always gets robbed?
“A/C is included in the assessment. It doesn’t have “in wall units.””
Please point out the duct work that would indicate “Central Air”
What is the mechanical systems shown in photos 11 & 15
“Please point out the duct work that would indicate “Central Air””
It *is* straight from the listing.
What would you call this system? It is an AC system using a central air handler, right?
“Isn’t the 7-11 on the ground floor of this building the one that always gets robbed?”
Does Chicago even arrest or prosecute small time theft? Seems like people living in this building can steal dinner every night from the 7-11 and then just take the elevator to eat it at home.
Kind of like yesterday’s where it looks like you get a lot for your money. The location is better than yesterday’s, but it lacks the balconies that unit had. Views are better here, however. I like the curved wall of windows. The unit otherwise seems a bit bland. Low assessments for a 3 BR downtown.
“Isn’t the 7-11 on the ground floor of this building the one that always gets robbed?”
Nope.
You’re thinking of the one on State.
The area around The Sterling is quite lovely. And you can easily walk to the Riverwalk as well.
“Low assessments for a 3 BR downtown.”
Bigger building helps perhaps? But it has a lot of amenities so hard to say.
48th floor views are NICE.
“Does Chicago even arrest or prosecute small time theft?”
If you get caught, yes. I’m doubting the 7-11 will be kind to you if you keep showing up and stealing dinner “every night.”
Also, “dinner”? From the 7-11?
Hm…
“It *is* straight from the listing.”
Yep
“What would you call this system? It is an AC system using a central air handler, right?”
Am guessing a fan boxes w/ coil (think motel 6 unit stuffed inside a closet). Figuring there’s 2 of these in the LR )need to wash the windows to keep frost at bay). If they were fed off a central air system It’s going to short circuit as the return is in the kitchen (bathrooms will have fart fans but they’ll have low vol and likely won’t run 24/7. I know AI is a cheap shitty builder, but that would be even below their standards
My parents own a unit here that I help rent out now that my brother moved out. Overall it’s a decent building. Very low HOA for the amenities with a decent reserve. That deck has been finished for several years, they got rid of a tennis court and added a whole grilling area, it’s quite nice. There’s two gyms–a strength one and cardio one, okay for women or weak guys (my brother had to go to East Bank for the real weights).
A area has its pros and cons. If you work in the loop (or maybe Merch Mart), it’s a very quick walk. The 7-11 is rough, not as bad as the one closer to me off State, but there’s always a hobo begging outside. There’s obviously lots of restaurants around, but it can get quite aggressive after the bars get out (Moe’s, Treehouse, Untitled, the Smith, Bario, etc. are all very close).
The price for this ‘penthouse’ is insane though, like $200K too high. The views are nice (One Chicago looks great, especially in the sea of RN beige), but you have an office building (300N LaSalle) looking right into your dining area (which is small). You also don’t have a balcony in this tier, which is a huge drawback for me.
“I know AI is a cheap shitty builder, but that would be even below their standards”
I may be mixing buildings, but thought that Invsco did their more normal thing, and bought someone else’s project (as noted, this was started as apartments) and then converted.
[…checking…]
yup: https://www.globest.com/sites/globest/2002/03/21/sterling-conversion-pays-off-from-get-go/
Royal Imperial Group, with Solomon Cordwell Buenz as arch of record.
“Royal Imperial Group, with Solomon Cordwell Buenz as arch of record.”
Dont know them or their reputation
If it was orginally apartments, I’d think that Make-up air would be provided in the hallways and the units would be run slightly negative. The AC/Heat would be provided by recirculating the air in the unit thru fan boxes w/ coils – There’s 1 in the LR and if I were to bet theres another in the wall between the LR & curved wall BR. The grille in the kitchen could be a supply which could also supply to the non-MBR as well or could be a exhaust. to make sure that the space was slight negative Vs the hall.
I dont see any other supplies/returns in the photos.
Rob could probably confirm or deny my thesis
“Dont know them or their reputation”
They’re still featuring the Sterling nearly 20 years after they sold it:
https://www.royalimperial.com/
You know SCB, tho, right? https://www.scb.com/about/
“If you get caught, yes. I’m doubting the 7-11 will be kind to you if you keep showing up and stealing dinner “every night.”
Corporate discourages workers from stopping shoplifters and many companies have fired workers for taking action to protect the store, merchandise or customers.
If the cops won’t arrest or prosecute shoplifters and corporate won’t allow their employees to do anything…
Besides basic morality, which is in short supply, what’s to stop anyone from stealing whatever and whenever they want.
“Corporate discourages workers from stopping shoplifters ”
Aren’t the 7-11s in Chicago (almost?) all franchises?
Does corporate re-imburse their shrink, if the Owner abides by corporate preferences?
“Corporate discourages workers from stopping shoplifters and many companies have fired workers for taking action to protect the store, merchandise or customers.”
This is true of EVERY retail store. Why do you think the theft gangs aren’t “stopped” on the Mag Mile? They are told not to engage them because it’s not worth getting shot over a handbag.
The police have been doing undercover sting operations at some of the luxury stores, however. Only a matter of time before there are arrests.
Also, I would hope they are tracking the sales online as well, as they did after the looting.
But why would you shoplift food from 7-11? You would have to be homeless and desperate to do so. You could also just go to the Jewel and do it.
I don’t understand your point.
“The police have been doing undercover sting operations at some of the luxury stores, however. Only a matter of time before there are arrests.”
Doesnt matter if they either arent charged or the charges are reduced.
“ I don’t understand your point.’”
I’m pretty certain she was being facetious. Obviously white collar professionals living in this building aren’t going to steal dinner from 7-11 every night. But she makes a good point that there is plenty of evidence that they probably could.
“white collar professionals living in this building aren’t going to steal dinner from 7-11 every night”
Not more than twice a week, I’m sure.
Breakfast, on the other hand…who knows?
“Only a matter of time before there are arrests.”
Been waiting forever… cops have been showing up on Hubbard now though which is a bit too little to late based on how thug it got over summer.
“Doesnt matter if they either arent charged or the charges are reduced”
Yup, we all know Kim Fox does not give a shit and releases almost all criminals
“You could also just go to the Jewel and do it.”
Thugs are way too dumb to go to Jewel for cheaper food. They prefer 7-11 as they can get their other vice fixes (smokes, 4LOKO, etc.) regardless of pricing.
“I’m pretty certain she was being facetious. Obviously white collar professionals living in this building aren’t going to steal dinner from 7-11 every night. But she makes a good point that there is plenty of evidence that they probably could.”
At what point do the white collar professionals, who pay the majority of the taxes, get tired of seeing people not work, get welfare, are allowed to commit crime with no repercussions (many crimes are even supported and applauded if done for the right political purpose), live in apartments rent free, and still claim to be the victim?
At what point do the “white collar professionals” get pissed and recognize that those thugs live a life that isn’t too much worse than theirs and that they are footing the bill?
Why not stop paying for stuff when you see so many others get away with it? Who wants to be a sucker?
“Why not stop paying for stuff when you see so many others get away with it? Who wants to be a sucker?”
I have several well-off friends also living in the same RN highrise that plan to move as soon as the condo market improves a bit. The crime, high taxes (that still deliver shit schools aside from a few decent magnets), and horrible leadership have pushed them over the edge.
As I’m not married, it still makes sense to live in the heart of it all (enjoying lots of the local amenities), but completely understand their reasoning. I’m going to 3 concerts this week all within walking or Divy distance… but I’m getting a bit old to live this lifestyle. Nice burbs on the BSNF are looking more attractive each day. I could get a hotel a few night a month and still be ahead (or maybe a studio in Marina City for giggles and HoB).
“At what point do the white collar professionals, who pay the majority of the taxes, get tired of seeing people not work, get welfare, are allowed to commit crime with no repercussions (many crimes are even supported and applauded if done for the right political purpose), live in apartments rent free, and still claim to be the victim?”
Gag.
We’re back to “welfare” again?
That went out in the mid 1990s.
“Been waiting forever… cops have been showing up on Hubbard now though which is a bit too little to late based on how thug it got over summer.”
They were waiting inside one of the luxury stores just last week Rob. So, yeah, things are being done.