Another Foreclosure in the Gold Coast: 57 E. Delaware
We’ve chattered about The Bristol, at 57 E. Delaware, in the Gold Coast before. Some units in the building have had problems re-selling in the last few years because of the construction of a high rise directly to the south of the building on Chestnut that blocked views.
Current stats on the building (out of 180 units):
- 13 for sale
- 5 for rent
- 5 units have sold so far in 2008
A one bedroom unit that is currently on the market had a lis pendens filed against it in June.
Here’s the listing:
ONE-BEDROOM INCLUDING AND A PRIME PARKING SPACE WITHIN THE BUILDING. STUNNING VIEWS, SUPERB UPGRADES WITH AN OPEN KITCHEN, HARDWOOD FLOORS, LOTS OF CLOSETS, WASHER/DRYER, MASTER BATH, WITH SOAK TUB & SEPARATE SHOWER. BLINDS AT ALL WINDOWS. VERY EASY TO SHOW THIS MODEL UNIT WHICH IS SELDOM LIVED IN. BEYOND ELEGANCE AND LUXURY!
Unit #2001: 1 bedroom, 2 baths, 1135 square feet
- Sold in May 2000 for $383,500
- Sold in May 2001 for $383,500
- Sold in January 2006 for $370,000
- Currently listed for $505,000 (parking included)
- Lis pendens filed on June 18, 2008 by Deutsche Bank
- Assessments of $633 a month
- Taxes of $5,000
- Baird & Warner has the listing
There are several “01” tier units on the market, including #3001, #2601, and #1701.
These units all have 1.5 baths, instead of the two full baths that are in Unit #2001.
Here are some pictures from Unit #3001, currently on the market, to give you an idea of the size.
Unit #3001: 1 bedroom, 1.5 baths, 1135 square feet
- Sold in December 2000 for $440,000
- Sold in January 2006 for $425,000
- Currently listed for $499,900 (parking extra)
- Assessments of $723 a month
- Taxes of $5,378
- Prudential Preferred has the listing
Upper 300s / low 400s sounds like a plausible price. This is a great location and a good-sized unit. No way at $505k, though.
I doubt it has 2 full bathrooms. The 1 bedrooms all have 1.5 bath unless there was some unit combos on that floor.
Call me a snob but Unit #3001 is a total re-do. I would make sure to rip out those diagonal floors before i did kitchen and 1.5 baths.
Upper 300’s for ONE bedroom?
…no.
Granted it’s a mighty convenient location, but taxes and assessments seem high for such non-descript dated looking 1 bdrm units. Right or wrong on this?
For an apartment like this in a location like this, you will pay steeply, even though I think $440K is implausible.
This is a new apartment, and it is a true luxury apartment, in a high-amenity building in the best location in the city.
A different building even in the same area might not have such a high price per sq ft.
I could see $350K for it, though no more than that.
That’s way more than I’d pay for any other 1 bed in any other part of the city.
Why do people buy in modern high-rise, and then decorate it like this?
Bubbleboi,
Hardwood floors laid on the diagonal are much more expensive (requires more materials and labor) and are generally considered an upgrade.
These are very nice units, even without balconies and a front door that faces an ugly parking garage. The building has a great location, but views have suffered to the south and will suffer with proposed construction to the east.
“why do people buy in modern high-rise, then decorate it like this?”
Good question, Linda. I’ve always wondered why people buy into a modern high rise just to fill it up with period furniture and chintz and damask; and I’ve also wondered why people buy a wonderful, quirky old vintage just to clean-wall it into sterile death and fill it with can lights and diagonal floors and modern windows.
But I guess it’s part of what my mother always says about people who love vines covering their houses and people who don’t, and why do they always buy each other’s properties?