Does Living on Astor Street Still Hold Cache? A 2-Bedroom at 1430 N. Astor in the Gold Coast
This 2-bedroom in the Astor Villa at 1430 N. Astor in the Gold Coast came on the market in June 2019.
The Astor Villa was constructed in 1972 and has 48 units and a parking garage. It’s a doorman building which also has an exercise room.
This unit has been renovated by the prior owner and has east and west exposures including an extra long terrace that overlooks Astor Street from the 17th floor.
It has a contemporary kitchen with off-white cabinets, quartz counter tops, a Wolf stove top, Thermador dishwasher and an apron sink.
There’s a master suite with a large marble bath with dual vanity and walk-in closet.
The unit has features buyers look for such as in-unit washer/dryer and assigned garage parking.
It doesn’t have central air, but as was common with the late 1960s/early 1970s high rises, it has wall unit heating and cooling.
This property is on the historic blocks of Astor Street where there are more single family homes than condos.
Originally listed for $589,000 in June, it has been reduced $4,000 to $585,000.
Astor Street used to have some of the top cache in the city.
But with Fulton Market and Logan Square booming, do Millennials or GenZ care?
Who’s the target buyer for Gold Coast condos in 2019?
Dawn Lunch at @Properties has the listing. See the pictures here.
Unit #17B: 2 bedrooms, 2 bathrooms, 1528 square feet
- I couldn’t find the original price
- Lis pendens foreclosure filed in December 2009
- Lis pendens filed in October 2013
- Bank owned in April 2016
- Sold by the bank in November 2016 for $350,500
- Sold in July 2018 for $565,000
- Originally listed in June 2019 for $589,000
- Reduced
- Currently listed at $585,000 (assigned parking included)
- Assessments of $1660 a month (includes gas, parking, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $5582
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 20×12
- Bedroom #2: 13×13
- Living room: 25×22
- Kitchen: 18×9
- Laundry room: 3×3
- Walk-in-closet: 7×6
- Balcony: 5×24
But with Fulton Market and Logan Square booming, do Millennials or GenZ care?
Who’s the target buyer for Gold Coast condos in 2019?
Well the target buyer on Astor would not be an M or a Z that is for sure.
I’d say it is more likely thier divorced mom that still has some $$$$ in her pocket. The decor would match that vibe as well. Eat, pray, love, and then move into an Astor condo and meet some new friends.
The unit seems fairly updated and spacious. Hope that it sells soon.
It’s a bit overdone for my taste, but it does hide the awkwardness of the multiple levels that some of this era’s buildings thought was interesting. But nothing his hiding those electric heat pumps…
For the space, condition, location, a little outdoor space, w/d and parking, seems better than a lot of other stuff.
Looks like a real bargain to me if you just have to have a Gold Coast condo, but redecorating is definitely needed.
Getting a deeded space included in the assessment is unusual, and nice to see it’s not an extra. Taxes are low, too, and it has in-unit W/D, unusual for a building from 1972.
The unfortunate thing, besides massive interior work being needed, is lack of a view except into other buildings. But for under $600,000 in this location, probably someone can live with that.
Who will it attract? Maybe older couples moving back downtown, or a young couple starting out (though it might be beyond most young peoples’ affordability). This definitely isn’t a really hip area any more, so the level of Millennial interest could be low.
“I’d say it is more likely thier divorced mom that still has some $$$$ in her pocket.”
A divorced mom?
You honestly think a 45 year old woman would choose the Gold Coast, specifically Astor Street?
I’m asking in all seriousness.
Millennial parents are Baby Boomers so, yeah, perhaps they might be a buyer. But not GenZ.
I wonder what will happen to home values in the Gold Coast in the next 10 years. It just doesn’t seem to appeal, at all, to GenX or Millennials. The blocks north of Division seem really old already. And those buildings are going to need a lot of work.
Technically a millennial here… nobody I know cares about this street (and would much prefer River North / West Loop).
The decor looks like a grandma’s place (aside from the decent kitchen / hood). The outside of the building is dated af (as are they buildings you look at, aside from the Hancock in the corner). Finally the HOA is nuts (but expected). Very hard pass.
Marry First for love
Second for money
This is where some of the older guys with money live.
But yes you are correct that a recently divorced Gen Z mom is likely too young.
She’d be headed to Fulton to catch an up and coming tech dude.
Sabrina – it’s been a while since I’ve contributed regularly. But just like “groove77” you cant take all my comments that seriously! Wonder what ever happened to Groove?
Gen X’er here. Live in and love the Gold Coast. West Loop and River North might appeal to Millennials now while they are still in their 20’s and early 30s. But what happens when they grow older and are no longer into bar-hopping, clubbing?
The main draws of the Gold Coast are: Close to North Ave. & Oak street beach, Close to downtown for working professionals; fine dining, bars on Division street if needed, Maginficiant Mile for shopping.
GC has been around since late 1880s as the prime spot in Chicago. I don’t see that changing any time soon or in the next 40 years.
“The main draws of the Gold Coast are … fine dining”
Not to be that guy, but … seriously? The center of gravity for fine dining in Chicago has been in the West Loop for a decade now.
Give us the top 3 “fine dining” locations that are most convenient to the GC, aside from Spiaggia (noted and granted; but that one place puts the GC behind Lincoln Square, ffs). Note: while I like them for what they are, the expense account steak houses (Gibsons, etc) don’t really count as “fine dining”.
A false belief of safety and sense of arriva and slight whiff of arrogancel still permeates the air in the GC. It will continue in the years ahead. Just as Kenilworth, Willmette, Winnetka, or VELF (Very East Lake Forest) convey a different message than Niles, DesPlaines, and Morton Grove.
Some people will still be drawn to the area and want to be in that zone. Others who are influenced by thier parents who are assisting in the purchase financially or as advisors will follow as well. They will tell Buffy and Jake that the GC is one of the best areas of the city. It’s all about perspective.
Although the younger buyer tends to overreward the new building and newly renovated spaces by paying a premium over an existing unit that needs to be renovated. Those feature rich buildings are attractive but some tend to be very high premium for things that are seldom used.
I have family that lives in the building. Very well run and managed. Solidly constructed even if dated. The location is phenomenal if you like Michigan Ave / Oak Street shopping. The street is also really quiet. The entire block is mostly mega mansions and it is directly across street from Pritzker mansion.
I will say the demographics of the building are boomers, so can’t really see any millennials finding it attractive in terms of neighbors, but who knows.
“..top 3 “fine dining” locations that are most convenient to the GC..”
Off top of my head I’d suggest as convenient ‘fine dining’ Le Colonial (now on Oak St), Bistronomic, Kiki’s, Ada St., La Storia and a notch below would be the patio at Blue Door, Somerset or 3 Arts Club. There are more convenient 2nd tier fine dining options on Wells St/OT imho
“Ada St.”
On the other side of Lincoln Park? It’s closer, driving/taxi/uber time wise, to the West Loop than the GC!
So, Le Colonial and 3 bistros. Bistros(!) which, imo, are definitionally not “fine dining”. Sure, most of us can better afford, and possibly prefer, bistros to “fine dining”, but they aren’t the same thing.
Not sure why you don’t think Steakhouses qualify as fine dining? I’ve gone to Maple & Ash & Gibson’s plenty of times – paid on my own (no expense accounts).
Some good restaurants in the area:
1) Maple & Ash – best steaks in chicago
2) Nico Osteria
3) Fig & Olive
4) Le Colonial
Gold coast used to be “the” place to live. As the rest of Chicago has gentrified the GC has declined RELATIVE to other places but it hasn’t actually declined. The people who got burned in the area are the ones who paid a hefty premium to be in the GC and then saw that premium evaporate. I don’t think fine dining when I think GC – but my definition of fine dining are new / interesting places and ones with Michelin stars or on the eater hot list. I only really go out in GC when dining for work or I have relatives in town. It is a great location – quiet and close to lake and downtown. It definitely appeals more to people with families and older couples who value safety and convenience vs. trendy nightlife and new builds. I live in Old Town which isn’t so different from GC.
Also – when I moved to Chicago 15 yrs ago River North was almost exclusively mid 20s / early 30s. After Erie park went in and in conjunction with the migration to downtown it has seen a lot of growth in families. Right now west loop / west town doesn’t have a lot of family friendly stuff but the city is constantly rehabbing / putting in new parks over there that are very nice. It could become more family friendly over the next decade or so. I would still prefer being close to the lake but that does come with a price premium.
“Not sure why you don’t think Steakhouses qualify as fine dining?”
Personal bias, based in large part on (1) typical nature of the service (it’s great for what it is, but it’s not fine dining), and (2) the typical nature of the menu–piece of beef, separate sides that are all sharing size, etc.
re: Maple & Ash–imo, fine dining and photo booths are mutually exclusive, but ymmv.
Anyway, whether talking about “fine dining” or merely “really good restaurants”, the West Loop is #1 with a bullet, and, as such, it isn’t a point in GC’s favor relative.
b may have been a bit loose with the term “fine dining”. Basically, plenty pleasantly walkable decent places to eat, some “fine” dining, and a quick drive from dining-focused areas like the WL.
Astor is arguably the nicest street in the city, to the extent that high value is placed on lake proximity, park proximity, lots of really nice SHFs (if you’ve got little ones, take them trick-or-treating there – most of the SFH’s go all out, and you can eat the full-size candy bars your kid(s) get), and relative quiet. It’s the closest street to the Loop that hits high marks on all those points.
There’s a surprising amount of dog poop on Astor’s sidewalks. And at night (say, after 10), it’s pretty deserted, which has made me increasingly uneasy, if not for myself, for my in-laws who live on the street. I think that’s a function of the current demographics (few street residents out that late, little reason for well-meaning non-residents to be taking that street late at night, and only a few full service buildings with a doorman/super presence). But the demographics will change (i.e., younger families and younger boomers/late gen x moving in), and the street’s strong suits will not.
The Gold Coast is desirable for the same reason that Manhattan’s Upper East Side is desirable: it’s where the money is. The Gold Coast is still one of the most-affluent neighborhoods in the United States.
It’s been true ever since Potter Palmer built his Mansion there and other wealthy Chicagoans followed Potter into the neighborhood.
“The Gold Coast is still one of the most-affluent neighborhoods in the United States.”
Who will live there now?
The money has spread out across the city.
There are mansions on the South Side, the West Side, the North Side. There are huge homes on 5 lots in Lincoln Park and downtown condos on the market for $20 million.
I don’t think most of today’s buyers want to be in the Gold Coast anymore. There’s a LOT on the market there.
I do think they can find foreign buyers, however. As they don’t live here and don’t know that it’s not the hottest neighborhood anymore. And they intend to use the property as an “investment” so don’t care that there aren’t any decent restaurants within a 15 minute walk.
“my definition of fine dining are new / interesting places and ones with Michelin stars or on the eater hot list.”
This. Except that I’d put it even a bit narrower, as not everything on the hot list, or new/interesting, would be “fine dining”. Hell, Michelin Star doesn’t automatically = fine dining–Dusek’s, eg, is borderline on the matter, imo (but I like it, too, for what it is).