Avenue East 3-Bedroom Penthouse Reduces Nearly $450K in 9 Months: 160 E. Illinois in Streeterville
This 3-bedroom penthouse in Avenue East at 160 E. Illinois in Streeterville has been on and off the market since 2010.
But in the last 9 months, it has been reduced $449,100 to $1,349,900.
The listing says it is still developer owned.
It is a south east corner unit with an east facing terrace. The listing says the unit has South, East, River, Michigan Avenue and Trump Tower views.
It has 11 foot ceilings and a custom gourmet kitchen.
The master bathroom has his and her baths.
After the reductions, is this property now a steal for the square footage and upgrades?
Cheryl Bancroft at @Properties has the listing. See the pictures here.
- No prior sale- developer’s unit
- Originally listed in September 2010
- Withdrawn
- Re-listed in May 2011 for $1.799 million
- Reduced several times
- Currently listed at $1,349,900 (parking extra at $50,000 per space)
- Assessments of $1682 a month (includes heat, a/c, doorman, cable)
- Taxes of $15836
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 17×13
- Bedroom #2: 14×12
- Bedroom #3: 13×11
Thankfully, it’s the nicest unit I’ve seen in the building. What are 3 beds going for in similar buildings….high 700’s? If it is truly a penthouse, maybe another 100k?
Parking $50K extra. That’s outrageous when you’re paying $1.35 million to live in a place like this. I know it’s like this quite often, but it rubs me the wrong way.
7 tiny pictures of a 2600 SF 3 bedroom, 3 1/2 bath place with views.
1 picture showing street level shot of building…and the last picture, meant to provide you that lasting image of the property…what is it you ask?
why it’s a closeup of the bathroom sink.
crap price with a crap listing. $1.1-$1.2 MAX.
Good point, Old Hickory. If it’s such a great place, why are they afraid to post decent photos of it? They’re advertising it like it’s a 2/1 in Rogers Park.
The parking issue rubs me the wrong way too. This is one of the worst listing for a high end property I have seen. It doesn’t inspire me to want to see the property. With so many other units on the market, why would anyone notice this one given the terrible pictures?
Thanks for backing me up, Jenny, on the parking issue. It’s just plain obnoxious. I realize parking is at a premium in the city, but the building has a garage, right? The developers are trying to make extra profit on the suckers who are so wealthy that an extra 50K is pocket change. But even if I were a high roller, I wouldn’t get serious about this place unless they agreed to throw in the parking.
this place should have bigger pictures and a nice slideshow with “I’m going down” by bruce Springsteen as the background track.
The other P-unit for sale also has the parking as a saparate item:
http://www.redfin.com/IL/Chicago/160-E-Illinois-St-60611/unit-25B/home/39723659
2 spots for $110,000.
uninspiring uint, location and views
No real outdoor space to speak of either. 2 small(ish) balconies. Why no roof deck at this price? The days of charging extra for parking are over I think.
Listing the parking separately always makes me feel like I’m dealing with a used car salesman, who is trying to take advantage of me in any way possible. It makes me wary of the sellers of such properties.
Also, not mentioned in the listing is the hi-rise they’re drilling the foundation for directly across the street. The east view will be nothing but cement in a year or two
I know they are newer, but this is no better than some units that have been selling under 1MM in goldcoast/river north. I see this going for 1-1.1 (unless I’m underestimating the appeal of Streeterville).
trader — I would think RN would go higher. Less touristy if your in the art district (west) and quieter. Streeterville is only going to get worse (less neighborhoody) once Children’s is completed. Too many hotels, institutions, and tourists. Not a real neighborhood.