Designer Renovated 2/2 in Streeterville with Parking Reduces $20,000: 401 E. Ontario
This 2-bedroom in 401 E. Ontario in Streeterville came on the market in May 2025.
401 E. Ontario was built in 1990 but was originally apartments. It was converted into condos in 1999. It has 394 units and attached parking.
It’s a full amenity building with 24-hour door staff, an indoor pool, a jacuzzi, 2 sun decks, resident lounge, fully equipped fitness center, sauna and on-site management.
The listing says this unit has been “designer renovated.”
It’s a corner unit with all new wide-plank flooring, custom millwork and moldings.
It has custom lighting and window treatments.
The unit has a living/dining room combo with a custom fireplace with a built-in television.
The kitchen is “upgraded” with green cabinets, a new refrigerator and microwave and “new” marble counter tops.
Both bathrooms have been redone with modern vanities, custom tile, high end fixtures and a luxe gold rainfall shower.
The primary bedroom has millwork.
The second bedroom appears to have built-in cabinets and a desk which were in the unit in the 2021 sale.
The unit has closet systems.
It has some of the features buyers look for including central air, one car garage is included but there is no washer/dryer in the unit. There is coin laundry in the building.
This building is just one block from Lake Michigan and is near the shops and restaurants of Streeterville, the Whole Foods and Trader Joe’s, and multiple bus lines.
Originally listed in May 2025 for $585,000, it was reduced $20,000 to $565,000.
Will the price cut get the sale done?
Sherise Glueckert @properties Christie’s has the listing. See the pictures here.
Unit #1202: 2 bedrooms, 2 baths, 1200 square feet
- Sold in November 1999 for $303,500
- Sold in October 2004 for $425,000
- Sold in July 2021 for $402,000
- Originally listed in May 2025 for $585,000
- Reduced
- Currently listed at $565,000
- Assessments of $1,033 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $8,022
- Central Air
- No washer/dryer in the unit. Coin laundry in the building.
- Garage parking is included
- Fireplace
- Bedroom #1: 13×12
- Bedroom #2: 12×10
- Living room: 19×17
- Dining room: 8×6
- Kitchen: 15×9
- Walk-in-closet: 6×5
November 1999 for $303,500 + CPI = $584k
Don’t see anything below the 30th floor that has ever sold for over $500k.
A lot of the (perceived) value is in pretty taste specific design choices.
HOA is basically the same psf as yesterday’s Edgewater unit–and presumably includes the parking spot assessment.
Borrowing from clio’s comment on the State Pkw unit: I think this town house is nicer and a better value:
https://www.redfin.com/IL/Chicago/55-W-Goethe-St-60610/unit-1240/home/14110927
Market appears to agree with me:
Feature is languishing 6 weeks later at the same ask.
My “better value”: contingent 9/22; pending 10/6. We’ll see what it closes at.