Can Older Buildings Compete With New Construction? 270 E. Pearson in Streeterville
This 3-bedroom in The Belvedere at 270 E. Pearson in Streeterville came on the market in May 2018.
The Belvedere was built in 2007 and has just 42 units.
There are just 2 units per floor.
It’s a full amenity building with a doorman, an exercise room and heated garage parking.
This unit is on the 14th floor and has a south facing open floor plan.
It has 2 terraces with park and lake views.
The living/dining area has lighter hardwood floors and the bedrooms have carpeting, but the listing says there are hardwoods underneath.
All three of the bedrooms are en suite, with the master bath sporting a steam shower and heated onyx floors.
The listing says the kitchen is custom with Poggenpohl cabinets, and Subzero and Miele appliances.
It has in-unit washer/dryer, central air and 2 parking spaces are included.
Originally listed for $4.5 million in May, it has been reduced to $4.15 million.
That price would put it in competition with the newly built One Bennett Park just a few blocks away.
But One Bennett Park will have apartments plus condos in the building. The Belvedere is exclusively condos.
Can the old construction hold its own against all the new construction luxury condo units?
Veronika Tomasu at Century 21 Action has the listing. See the pictures here.
Unit #1402: 3 bedrooms, 3.5 baths, 3940 square feet
- Sold in June 2010 for $2.35 million
- Originally listed in May 2018 for $4.15 million
- Reduced a couple of times
- Currently listed at $4.15 million
- Assessments of $3688 a month
- Taxes of $32,237
- Central Air
- Washer/dryer in the unit
- 2 parking spaces included
- 2 terraces
- Bedroom #1: 16×32
- Bedroom #2: 12×18
- Bedroom #3: 13×125
- Foyer: 7×18
- Family room: 18×19
- Walk-in-closet: 13×13
No, I dont see anything in this condo screaming $4MM. =
The ceilings seem low, especially in the kitchen
Does anyone really need a MBR/MB/WIC that large, especially when the common areas are essentially a long corridor?
I think they’ll be lucky if they get what they paid in 2010. Is this a joke? In the market of 4.0MM properties, who would choose this above all else?
“I think they’ll be lucky if they get what they paid in 2010.”
Think that’s going a little far.
Probably could get a signed sweater thrown in, too.
Clearly not worth that price and please get it staged. If you are trying to break a record or price to the sky at least make the place look it’s best.
BTW good point on getting a signed “sweater” with the purchase. I’d bet that it might have a number 81 on the back.
Recently got a Kerry Wood Cubs jacket that was left in the house after the sale of his Lake Geneva place. And no, we did not buy his house.
Cosby owns this place?
To answer the question posed by the headline:
Not this one, and not at this price.
4 mil is a LOT of money in this city. No thx. Re lis at 2.5 and they’d prob get some interest.