A Huge Corner 1-Bedroom on the River at 345 N. Canal in the Near West Side
This 1-bedroom in Fulton House at 345 N. Canal in the Near West Side came on the market in August 2021.
Built in 1903, Fulton House was originally an old cold storage warehouse.
It was converted to apartments in the 1970s by Harry Weese and then was converted into condos in the 1990s. There are 104 units. However, it’s also a live-work building where businesses can operate.
It has a doorman but no garage parking.
This unit is a north and east facing corner unit which overlooks the Chicago River and Wolf Point.
It appears to have been renovated as it has new dark hardwood floors throughout and ceiling lights.
The kitchen has modern cabinets, luxury appliances including Wolf double convection ovens, Subzero and a Bosch dishwasher along with a cooktop with Grohe fixtures. It has a quartz dining island.
The bedroom has a large walk-in-closet and a “renovated” luxury white bath with a walk-in-shower.
The unit has a balcony which overlooks the River.
It appears to have washer/dryer in the unit, but no parking and no central air as it is electric heat/air in wall units.
Parking is available for rent in the neighborhood.
The listing says that this unit could be split up into a 2-bedroom, if desired.
Buyers love “new.”
Is this the perfect condo for someone who wants to be on the River?
Pamela Cirignani at Dream Town has the listing. The seller is a realtor and the listing agent has an ownership interest. See the pictures here (sorry, no floor plan).
Unit #805: 1 bedroom, 1 bath, 1275 square feet, corner unit
- Sold in February 1998 for $85,000
- Sold in August 2008 (but recorded in 2017?) for $85,000
- Currently listed at $525,000
- Assessments of $821 a month (includes a doorman, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes aren’t listed
- No central air- wall units
- Washer/dryer appears to be in the unit but building also has coin laundry
- No parking
- Bedroom: 17×14
- Living/dining combo: 13×20
- Family room: 20×16
- Kitchen: 18×13
- Laundry: 2×10
- Balcony: 7×5
It’s certainly large for a 1 bedroom, I’ll give it that. But whoever buys is going to have to be OK with constant views of that old half-open railroad bridge. Also, the main interior space reminds me of a parking garage with those huge columns holding up the ceiling.
I can’t imagine paying over a half million for a one bedroom condo near “everything Chicago has to offer” (not much lately). You really get next to nothing for the $821 in monthly assessments it seems.
Also, it annoys me that the realtor offers that this could be a 2 bedroom. It isn’t, and I don’t really see how it could be. I mean, any place could have a plus one bedroom if you turn the living space into a bedroom.
“Also, the main interior space reminds me of a parking garage with those huge columns holding up the ceiling.”
You’re kinda stuck with 15’+/- column spacing in these old buildings
IMO the finishes just dont work. They probably went too far softening it up
Can you park your boat short term here?
It looks so dreary in this place. I wonder if the pictures are just really terrible or if this place is as dreary as it looks. Also, the developer should have included a second bathroom, given the amount of square feet. What is the market for a $525,000 one bedroom/on bathroom in this location?
“What is the market for a $525,000 one bedroom/on bathroom in this location?”
This one:
https://www.redfin.com/IL/Chicago/345-N-Canal-St-60606/unit-1306/home/14101380
is not quite as big, and not quite as nice, but is 47.5% less.
“What is the market for a $525,000 one bedroom/on bathroom in this location?”
This one:
https://www.redfin.com/IL/Chicago/333-N-Canal-St-60606/unit-1407/home/12638500
Is not quite as big, not quite as nice, but is in a building with actual amenities and comes with a parking spot, and is 1/3 less.
“What is the market for a $525,000 one bedroom/on bathroom in this location?”
This one:
https://www.redfin.com/IL/Chicago/226-N-Clinton-St-60661/unit-708/home/12787620
Is not nearly as big, nor nearly as nice, but is in a building with actual amenities and has a parking spot in the building for $25k, and is HALF.
I’d have to go with: “the market is very slim, and populated by greater fools”.
Kinzie Park 2/2s can be had for basically the same price, with parking, and basically the same HOA, with a helluva lot more amenities. And no project to wall off a bedroom. They aren’t as “cool”, but they also don’t rely on the same A/C technology as Motel 6.
This building backs up to the Metra train lines and hundreds of trains with nasty diesel smoke will pass within 75′ of this building every day. This unit looks at the river but the back of overlooks an active rail yard. No thanks.
On the plus side, Redfin says that your children can attend the Disney Magnet school!
And speaking of River Bend, here’s a south corner unit, showing the progress of the Salesforce tower:
https://www.redfin.com/IL/Chicago/333-N-Canal-St-60606/unit-2606/home/12635940
In the ’15 pix, they tried hard to hide WPW construction–these folks are just rolling with it.
The 2606 Unit makes me shake my head. @ $1.5MM the LR focal point is a furnace grill?
The architect should be stripped of their license
That stretch along the river has gotten very nice, with the new office buildings and river walk. But I’ll never forget an experience I had just a few blocks east on the river, at Clark. Summer of 07, came out of a breakfast event held at the American Bar Association. Was sitting on a ledge facing the river, talking on a flip phone, and a rat nearly crawled into my lap.
“a rat nearly crawled into my lap”
He was just trying to get your contact info, after being in the breakfast event.
The riverwalk is great, just don’t go there after hours! Not safe, just as the rest of the loop is no longer safe after dark.
https://cwbchicago.com/2021/05/man-stabbed-during-fight-on-riverwalk-later-cops-deal-with-another-large-group-of-teens-in-loop.html
There’s an uber video out there of the attack on that girl and guy on a date at 11pm at State/Jackson from earlier this week. There are cars and people everywhere, its busy, and the perps on divvy bikes just beat the living crap out of them in the middle of State St. and casually walked away. The police apparently arrested the perps but then Kim Foxx refused to charge them! It doesn’t get much more egregious than this.
And don’t bother going on the CTA in lakeview, there’s a guy randomly attacking people in Lakeview these days too!
“a rat nearly crawled into my lap”
Per Sabrina, there are no rats left in Chicago
“In the ’15 pix, they tried hard to hide WPW construction–these folks are just rolling with it.”
It’s a little late to try and “hide” anything now that 3 big buildings are there, right?
In real estate, the worst time to sell is BEFORE they actually begin construction. Once it’s going up, or is built, the buyers all can literally see the risk. Sometimes it’s not as “bad” as originally thought.
Take 165 n canal, for instance. Yes, the office tower “blocked” the east facing, river views. Prices were hit for years in anticipation of that building. But now? Eh. Buyers don’t care because the building isn’t that close and they put a nice park above the train line that was loud and polluting, so it just hasn’t hit values once it was actually built.
They only started construction on the Salesforce building last year. But making HUGE progress. 2023 completion?
It’s going to be a beauty right there on the river and will connect the “riverwalk” that goes along the front of Wolf Point.
I still think it was a missed opportunity for them to not put a boat dock in there for the water taxi, unless that’s still to come, but it doesn’t look like they are including one. Perhaps the river isn’t conducive to it at that location.
I hope they don’t make the same mistake with Goose Island which is going to have 5 towers and thousands of apartments.
Also should put a water taxi stop at the Morton Salt venue.
“This building backs up to the Metra train lines and hundreds of trains with nasty diesel smoke will pass within 75? of this building every day. This unit looks at the river but the back of overlooks an active rail yard. No thanks.”
City living HD. This is why you live in the suburbs, right?
Why would this be any different than living on Lake Shore Drive with its hundreds of thousands of polluting cars a day driving right below your windows?
Or near the Kennedy, Dan Ryan or Eisenhower?
I could go on and on.
There are 25,000 cars daily on Fullerton in Lincoln Park. Maybe someone shouldn’t live 100 feet near that either?
“They aren’t as “cool”, but they also don’t rely on the same A/C technology as Motel 6.”
Nothing wrong with wall a/c and heat. It’s electric. It’s fairly cheap and efficient. Most of the units have new technology.
It’s better for the environment, and your health, than a gas run furnace.
“Also, the developer should have included a second bathroom, given the amount of square feet. What is the market for a $525,000 one bedroom/on bathroom in this location?”
This building was converted into apartments in the 1970s when having a second bathroom wouldn’t have been a priority for a 2-bedroom.
“You really get next to nothing for the $821 in monthly assessments it seems.”
Once again, the chatterati doesn’t understand how monthly assessments “work” in high rise buildings.
This is 1275 square feet. It’s a 2-bedroom in most other high rises.
What are the assessments in a high rise with a doorman with just 104 units which is over 100 years old and needs a lot of maintenance?
Seems to me that assessment is actually cheap.
“The riverwalk is great, just don’t go there after hours! Not safe, just as the rest of the loop is no longer safe after dark.”
Two guys get into a fight in a public location, and one guy slashes the other, and we’re supposed to be scared?
Lol.
Doesn’t this happen every day in Wrigleyville when there is a Cubs game?
Since most of you don’t actually LIVE in the city of Chicago but live in fear from your bunkers in Woodstock, you should know that the Riverwalk has a TON of police on it at any given time, even well into the evening (this incident happened at 7:30 pm when it was still light out and there were thousands of people ON the Riverwalk).
I feel like it’s one of the safest places in the city, actually.
But I guess HD won’t ever fly on a plane again because of all those fights and injuries that are occurring on planes.
“This is 1275 square feet. It’s a 2-bedroom in most other high rises.”
I didnt think anyone was building 2/2 that small?
“Nothing wrong with wall a/c and heat. It’s electric. It’s fairly cheap and efficient. Most of the units have new technology.
It’s better for the environment, and your health, than a gas run furnace.”
You mean other than they flat out suck?
-Noisy
-Air distribution is terrible (Hot/cold spots, Big Temp differentials)
In general 3 small AC compressors arent going to be as energy efficient a 1 larger unit.
What is this “new” AC technology and proof that this unit has it?
“should put a water taxi stop at the Morton Salt venue”
That was 100% in R2’s original plans. Who knows if it gets value engineered out, tho.
R2 also has discussed a stop on GI, just north/west of Halsted, so a second one for Onni’s project would be overkill, probably.
“wolf point”
Pelli had one in an earlier design:
https://chicago.curbed.com/2017/6/22/15852776/chicago-construction-wolf-point-east-apartment-tower
It’s possible that’s just waiting for the arrival of office tenants.
“You mean other than they flat out suck?
-Noisy
-Air distribution is terrible (Hot/cold spots, Big Temp differentials)”
Right?
“What is this “new” AC technology”
Would guess she’s thinking of minisplits and the like.
“proof that this unit has it”
My lyin’ eyes say “just like in my home at the Super 8 in Crystal Lake”:
https://www.wyndhamhotels.com/super-8/crystal-lake-illinois/super-8-crystal-lake/overview#section-title-a6e7f831
The noise drowns out my weeping about the death of Chicago and my imaginary CPS student kids, and the wild temperature swings make sure I know I’m not dead yet.
“[electric heat is] better for the environment, and your health, than a gas run furnace.”
Cite, please!
“It’s fairly cheap and efficient”.
Sabrina, I’d like to see proof of that, like 3 winters’ worth of electric bills for this place and others with similar systems, because I do not believe it for a minute. .
In my own experience, and from hearing from people, including some CC posters, about their experience with electric heat in their relatively modern post- year 2000 buildings, I doubt that these wall units are any more efficient than anything, except for electric baseboards and electric forced-air systems dating before year 2K>
“I doubt that these wall units are any more efficient than anything, except for electric baseboards and electric forced-air systems dating before year 2K>”
If you have one of the new wall units (those of the last 5 years or so), then they have pretty sophisticated chips in them for temperature control.
“Pelli had one in an earlier design:”
If you are down there, take a look anon(tfo). I don’t see them building anything that looks like a dock unless it’s going to come at the end of the project, which is a possibility.
It’s foolish not to have one at each of these developments. Wendella now has a water taxi that can travel even during the coldest winter months. People should be using this transportation year round.
“I didnt think anyone was building 2/2 that small?”
Huh?
New apartment high rises are building 2/2s anywhere from 900 square feet to 1400 square feet that I have seen.
“ If you have one of the new wall units (those of the last 5 years or so), then they have pretty sophisticated chips in them for temperature control.”
You’re talking out your ass again
Please explain these “sophisticated chips for temp control” (I hope you not referring to a programmable or nest-type)
Maybe a VFD would improve energy savings (you’d probably get a rebate as well), but it’s doubtful this has one.
“ New apartment high rises are building 2/2s anywhere from 900 square feet to 1400 square feet that I have seen.”
You don’t even remember the BS you spew
Again, I’d like to see actual apple to apple comparisons of the heating costs of any electric heating system, whether these wall units or a forced air system, to gas heating systems of any type. The type of home, type of construction, the square footage should be the same, for an accurate comparison. I’d like to see the actual numbers. Maybe I’m still in shock from that $250 electric bill for a relatively warm winter month in St Louis in 1986, but nothing I’ve heard or read from actual users makes me convinced that any form of electric heat is more economical than anything.
I’d love it if anyone could show me a truly economical electric heating system that is even only slightly more expensive than gas, because I would love nothing more than to see every gas-powered appliance and furnace in the U.S., replaced with electric. I’m more than happy to put up with the small additional cost of electric cooking, to be rid of gas stoves. I’d love to get rid of every gas line in the U.S. But so far, gas continues to be far away the most economical way to heat buildings.
“I’d love it if anyone could show me a truly economical electric heating system that is even only slightly more expensive than gas”
You’d have to have a very odd scenario where electric was almost free (living next to a Hydro plant for example)
Nat Gas
1 Therm = 39kwh/0.8 (efficiency)/$1.5/therm = $0.048
Electric (Assume 100% conversion)
1kwh = $0.14kwh
You can look at your bills and adjust
Above costs have all fees, surcharges, etc included
NG 80% furnace efficiency is pretty conservative, think ours is 93%.
Still wondering what these magical chips do…
Unless Sabrina has the ability to not be constrained by the Laws of Thermodynamics, shes just making things up as she is wont to do
People’s Gas charges a $50/month “customer fee” no matter if you use the gas or not. I would love to drop People’s Gas and just use ComEd if I could get an electric heating system installed.
I canceled my gas service one summer and People’s Gas wanted to charge me a $100 fee to reactivate my account. I complained until they said that they would drop the fee, but they told me that they would make me pay the fee if I did the same thing the following summer.
“You don’t even remember the BS you spew”
I said apartments JohnnyU. Not condos.
Developers haven’t been building many smaller condos as the 3 and 4 bedroom “family” units are all the rage. lthough that new building in Lakeshore East that is now doing some closings has 1 and 2-bedrooms. The 2-bedrooms are in the 900 square feet to 1400 range.
That would be the first building with “smaller” units downtown I can remember in a decade.
Riverline is also building with 1 and 2 bedrooms but how many will they be able to sell? Or will they have to go all apartments?
We’ll see.
“People’s Gas charges a $50/month “customer fee” ”
jeez, I hadn’t noticed it had gotten that high, but it has!
Any clarification on these special chips?
“People’s Gas charges a $50/month “customer fee”
That’s why I quickly had the gas disconnected in any building, rental or condo, that I’ve lived in that did not include the stove gas in the HOA or rent, along with the heat. I’m not about to pay that connection charge just to run a gas stove, when my gas itself costs maybe $3 for the month. I simply use my induction cookplate, microwave, electric crock pot, and toaster oven, all of which add very little to my electric bill, and which are quite enough for my day-to-day needs in any case.
Relisted at 499K
Still available for $475k.
“Still available for $475k.”
Downtown is difficult. Too much inventory. But it will get better in the next several years as that inventory is absorbed.
You can get some real deals still too. That should help get rid of the inventory.
Downtown is difficult. Too much inventory. But it will get better in the next several years as that inventory is absorbed.“
Even for a unit with sophisticated chips for temp control?
“Even for a unit with sophisticated chips for temp control?”
Believe it or not, every property eventually sells.
Like the PH here (http://cribchatter.com/?p=26994) which sold for less ($615) than the 2015 purchase price ($620).
That ppsf (ignoring the roofdeck ‘potential’) would put this place at about $360k, but it’s still asking $475k. Must be hoping for a *lot* of inflation, fast.
Drop the price by (approx) 10% and still on the market for nearly 2 months – Thats HAWT ™
Gotta be nice owning a piece of vaporware w/ sophisticated chips ™
“Lake Shore Drive with its hundreds of thousands of polluting cars a day”
Missed this before.
It is about 1.5 hundreds per day.
sauce:
https://www.cmap.illinois.gov/documents/10180/24491/ExpresswayAtlas2016_v1.pdf/56dbf264-8a52-45c0-a5ad-adcec64a52c1
“It is about 1.5 hundreds per day.”
So 150,000 cars a day don’t pollute? Are you nuts?
The air quality is terrible.
The pollution is terrible even on Michigan Avenue. And what does that street get? Probably 100,000 a day.
Anyone else see the article about how the state is going to try to get a few billion to expand the Eisenhower from the interchange all the way out to Hillside. Massive project but it’s needed. Would also re-do the blue line.
And is this another “Sabrina is wrong” day on something that has NOTHING to do with real estate?
Because I get it. All of you bears (which is most of this site) are really feeling the pain now. You were SO certain of the collapse in Chicago real estate. And that never happened. And then you were SO certain that the end of the forbearance period on mortgages would cause it to collapse as well.
Instead, the number of homeowners in trouble has continued to decline.
When real estate prices go up 10% or 20% or more in 18 months, it gives you a lot of options if you fall behind on your payments.
As Gary’s October update shows, Chicago real estate continues to be hot. Inventory is still near record lows. You can’t have a housing collapse without inventory.
Additionally, the hot stock market has put a catalyst under the luxury market. It’s still overbuilt downtown, but that inventory is being absorbed faster than I thought it would be as this is the best year for luxury sales since 2015.
When the mortgage rates rise next year, that will cool the market. But it’s not going to happen until those rates are at 3.5% or higher.
“on Michigan Avenue. And what does that street get? Probably 100,000 a day.”
Not even close.
Find the real answer on the City’s data portal.
“Because I get it. ”
Straw man alert!
I don’t have time. I have a job.
What is it? Please tell us. I’m assuming if Fullerton is getting 25,000 a day then Michigan Avenue is 100,000. Is it 75,000? What is it?
It’s terrible. Really bad pollution. Look at the black junk on all the buildings along it. That’s what you’re breathing in. Heck, even a block or two away you can still smell the pollution.
“Straw man alert!”
Again, the bears on this site have been WRONG for 18 months and will continue to be wrong in 2022.
Best housing market in Chicago in 15 years.
Nothing collapsed. Demand continues to be strong. Personally, I felt like it was slowing a bit the last few months but I was wrong. Those condos are still flying off the shelves.
So, instead, the bears have to tell me I’m “wrong” about some non-housing thing like Amazon, wall a/c units, or now, the number of cars on LSD or Michigan Avenue every day.
Sad.
The bet against Chicago has failed. It’s coming back strong. Next year should be a great year as more are vaccinated and events continue to return, along with the tourists and conventions.
“What is it? Please tell us. I’m assuming if Fullerton is getting 25,000 a day then Michigan Avenue is 100,000. Is it 75,000? What is it?”
I’ll just make up shit, too:
It’s 1,100. Oh, that’s just one direction. 2,350.
“It’s 1,100. Oh, that’s just one direction. 2,350.”
In an hour?
Lol.
Fullerton literally does 25,000 cars a day at Ashland. Wherever you got that info from, it’s wrong.