Are Some River North Properties Back to 2003 Pricing? 435 W. Erie
This 2-bedroom unit in Erie Center at 435 W. Erie in River North has been on and off the market for a year.
It is now listed for $87,100 under the 2008 purchase price and also just $1,900 above the 2003 purchase price.
Built in 1998, the unit has some interesting features including a large window in the master bathroom- which you rarely see in newer construction high rises. Last window in the bathroom I remember was in some of the units in 600 N. Fairbanks.
The listing says there are ebony bamboo floors throughout the main living areas.
The kitchen has white cabinets and appliances and no granite counter tops.
It has central air, washer dryer in the unit and parking is available to purchase in the building.
Is this a deal for the location and square footage?
Cara Buffa at Prudential Rubloff has the listing. See the pictures here.
Or see it in person this Sunday, Jan 23, at the Open House before the Bears game from 11 am to 1 pm.
Unit #807: 2 bedrooms, 2 baths, 1425 square feet
- Sold in January 1999 for $257,000
- Sold in May 2002 for $327,000
- Sold in June 2003 for $348,000 (it appears parking was included)
- Sold in March 2008 for $437,000 (it appears parking was included)
- Originally listed in January 2010
- Currently listed at $349,900 (parking extra)
- Assessments of $577 a month (includes heat, a/c, cable, doorman)
- Taxes of $5185
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×13
- Bedroom #2: 12×11
Seems like a good deal to me, how are the assessments as low as they are. Does this building not have many amenities?
I have my eye on this unit in the same building:
http://www.redfin.com/IL/Chicago/435-W-Erie-St-60654/unit-002201/home/22766369
I hope to buy it for in the mid 600s – but I don’t think it will happen!!
“I hope to buy it for in the mid 600s – but I don’t think it will happen!!”
If you don’t ask, the answer is already “no”, so what do you lose?
This place looks awesome. It looks big for 1425 sq ft. I’d want a bigger space for that money though. Great for DINKs though.
i like this building, and there are some nice units in it. that place clio listed is amazing. it was on cc a few months ago.
as for this unit, i dont think the sq ftg is accurate. here is another 07 unit in the building (and much nicer, imo) that is listed at 1300 sq ft:
http://www.redfin.com/IL/Chicago/435-W-Erie-St-60654/unit-1907/home/12738637
“I hope to buy it for in the mid 600s – but I don’t think it will happen!!”
Not with those views and that terrace. At least in 2011.
No bad, but I’d want a more upgraded kitchen at this price point
This unit is ok. Nothin too special. Priced right imo if they throw in parking. But it lacks luxury features – granite, comfort kitchen, master bath…
Nice pick Clio on the other unit…
2 parking spaces probably = 50k more but still for a 1300 sqft 2/2 in a good location for 400k that’s a pretty good price IMO
I use the dry cleaners in the 1st floor of this building, nice people, and what a nice amenity to have on days like today!
In Jul-09 I bought a condo in the building behind this one for the Oct-06 price. Due to the 2 units below mine (same floorplan) having sold in the past year, I have a pretty good estimate of what mine is now worth and it is somewhere between the Feb-00 price and the Oct-06 price. 2003 prices seem just about right for this neighborhood.
haha EJ, my thoughts exactly
I love that first bathroom’s floor to ceiling windows. Perfect for exhibitionists.
Unit 2002 just came on the market – much better unit, better views, upgrades and includes parking at 415k
unit 2002 does look very good.
While there is nothing special about this unit, 2201 is an awesome place! It is even more spectacular in person than the pics would indicate.
The thing is this is the bottom price they will accept, so forget about getting it for the mid 600’s clio.
Laughable actually!
Loved it when it was featured on CC and love it even more now that I see it again. Had I wanted to be a Chicago resident once again (and had I not purchased/in the process of renovating the Denver bungalow), this would unquestionably be THE place to reside.
westloop, let’s buy unit 2201 together – I think it would be a great deal for 400k. I only spend 4-5 nights a month in the city and, from what I know from you, you probably only spend a few weeks a year here. We wouldn’t even have to ever run into each other – a purely mutualy beneficial financial transaction.
I learned very early in my RE career to NEVER invest with others…family or otherwise!
That will never change with me…even for this gem. Out of all the places I have seen in Chicago, 2201 is the top of the top.