Does the Water Tower Still Have the “It” Factor? 180 E. Pearson in the Gold Coast
This 2-bedroom penthouse unit at 180 E. Pearson in the Water Tower Residences in the Gold Coast (or is this Streeterville?) came on the market in December 2011.
Back when Oprah Winfrey lived in the building, it had cache as one of the most exclusive addresses in the city.
But in the last decade, all the new construction has given buyers many more options on the luxury end of the scale.
This 2800 square foot home has limestone and walnut flooring.
It has custom millwork including a paneled library and paneled/etched glass doors.
The kitchen has Coheba slab stone counter tops and backsplash with stainless steel appliances.
Check out the soaking tub in the master bath.
Built in 1975, does the Water Tower still have the “it” factor?
Nancy Nugent at Prudential Rubloff has the listing. See the pictures here.
Unit #7201: 2 bedrooms, 2.5 baths, 2800 square feet
- Sold in August 2000 for $999,000
- Sold in March 2005 for $400,000 (?)
- Originally listed in November 2011 for $2.895 million
- Currently still listed for $2.895 million
- Assessments of $2483 a month (includes doorman, cable, pool)
- Taxes of $24,853
- Central Air
- Parking is rental in the building ranging from $365 to $510 a month
- Laundry room in unit: 9×6
- Bedroom #1: 20×27
- Bedroom #2: 14×22
Holy bachelor pad. Did Wilt Chamberlain come back to life and offer his decorating services for this place?
Might appeal to an NBA or NFL star seeking a party-house bachelor pad after signing a lucrative multi-year contract. But for a typical corporate executive (and spouse) able to purchase at this price-point, unit’s finishes and fixtures are too glitzy and loud.
Oh boy don’t get Dan started on this property….
I actually like the finishes, they are different but consistent and I think fit the place. However, I definitely don’t think the kitchen says nearly $3 million nor the master bath. I think a freestanding modern tub is much more current than a huge step in tub surrounded in black.
Does the Water Tower still have the “it” factor? Isn’t there some positives to buying in an established building? I know people love new, but I would feel safer buying in an established building than in a new construction one where you don’t know the reputation, what the board will be like, when it will sell out, etc.
There’s a 3.3 mil mortgage against the property. whether or not that’s the outstanding principal balance, IDK.
“Might appeal to an NBA or NFL star seeking a party-house bachelor pad”
Already has the encased football and helmet, with framed jerseys in the office. Place is very nice with exception of it being just a bit more than a bit much on the eyes.
As for Water Tower. I still think that is arguably the best spot in the city.
I have a friend who used to live in this building. No idea on the price, but I was impressed by her place. I visited a friend who rents in Aqua a couple weeks ago and it was simply not as nice as this building (despite the interesting facade). The Water Tower just feels elegant in comparison to most other places. Although, for the same price, I might opt to live in a condo on each LSD.
Building fine…this unit – dated, awkward kitchen layout, dark…
I rent in a building close. I want to move to LP or Old Town. I am convinced these high rises are for those who put a strong emphasis on security. battling tourists on weekends is not cool
agree with mr bear. you go east you get less tourists. or a couple blocks west. but right off mich ave is like a hayseed convention most of the time. just too many people fighting to get to the gap, eddiebaur etc
that said, this place is interestingly decorated. kind of cool. wonder who the owner is
Looks like a nursing home operator. Or his wife.
and one who’s been in some trouble
“Looks like a nursing home operator. Or his wife.”
This building doesn’t have the 9′ ceilings that some of the newer high rises do, and that going to (at the margin) hurt WT and 132 E. Delaware despite their excellent locations and views.
“and one who’s been in some trouble”
wow, that’s even an understatement. This is a slimeball family.
Whoa, before we go overboard here, the owner’s spouse’s attorney says “”I cannot emphasize strongly enough that XXXXXXXXXX vehemently denies any wrongdoing,”
Well, I’m glad that’s settled.
Slimeballs that know they could be, or are likely, to be sued always put the house in the wife’s name. That’s a common ploy, it’s shysterism 101. hd, you haven’t dug enough, otherwise you’d have dug up the fraud under Dept. of Justice link. “Behind every great fortune there is a crime” applies here.
How about their “nursing homes that have housed sex offenders unsupervised within a population of mentally ill, retarded and elderly patients. Residents in his homes have died from heatstroke….”
I’d rather buy #7204 with an extra bathroom and 600 sq. ft. for less money. Both places need some redecorating but why not go with extra space for less?
helmethofer, of course I dug up the link. That’s why my comment about from the attorney vehemently denying everything is so apropos.
***THREAD JACK ALERT***
Isn’t this Rosie’s house back on the market?
http://www.redfin.com/IL/Chicago/1517-W-Grace-St-60613/home/18954161
there’s a lot to like about this place but i’ll never get the appeal of staring straight at the Hancock building.
totally ruins the north views for the entire building, imho. could never pay $1,000/SF in Chicago to have that staring me in the face all the time. i’d feel uncomfortable at $500/SF. don’t care how nice my bathroom/molding/finishes are or whether i could order room service at 2am.
throw in no parking and walking outside to tourist/shopping nirvana and i just don’t see the attraction of these units (anywhere near this price)
Wow. $500 a month to park. $2,400 a month assessments. They definitely know how to keep the riff raff out.
b, it was in the news recently that she was looking to sell it. I love that for having owned it for 6 months she thinks she can make $250k. Also I love for a $2.5 million dollar listing the realtor just recycles the exact same listing. I know she bought the furniture, but at least change the description and maybe take a new picture or two for all the commission you will make, especially since you were a dual agent on the last sale….
Old Hickory is absolutely right. The terrible north views ruin this building for me (or at least that side of it). I’m guessing the southeast views are better, though you’re still staring directly at a lot of other condo buildings. Straight east would be best.
Also, the Water Tower condo blocks south views for many in the Hancock, at least up to the 75th floor or so.
I can’t access the listing.
Here’s a 2-bedroom, 4 1/2 bath on the 57th floor, nearly 2,800 square feet, designed in a spaceship theme by Stanley Tigerman – under $1.5M.
http://www.youtube.com/watch?v=7ge5euXKfFk
A sponsored video.
^ Wow. One of the ugliest units I’ve ever seen. The subject property is pretty bad too. I’ve always found Water Tower to have a dingy feel, mostly because of ceiling height.
Hope that Rosie is not packing up and leaving Chicago! Kinda like her in the West Loop using Oprah’s old studios. It would be a shame if they shut that down.
Looked at units there a year ago-including the unit across the hall from this one. (That one is a time capsule, right out of 1979.) The assessments there are going up as they complete very material projects over the next four years on top of the special assessment they did three years ago to replace all the copper risers. Expect assessments to be stable 2015 to 2025 or so, but on the increase over the next four years. Average age of the owners there is somewhere north of 70. In January at 9pm the building hardly had any lights on at all at the condo levels. All snowbirds, or early birds?
There is a reason that is under $1.5M. That is some unique decorating! Very taste specific. People with money do wierd things…
I agree Andy. I was amazed how many people liked the place.
What’s with the urinal? I also enjoyed the many demonstrations on how a sliding door works.
“^ Wow. One of the ugliest units I’ve ever seen.”
I see some overlap and similarities with that unit’s cold industrial feel and Tigerman’s Illinois Holocaust Museum.
The lack of balconies at WT, JH and other “luxury” hirises make them unattractive to many buyers.
My friend’s unit faced east and you could see above all the other high rises to the lake. It was a pretty view. I would still take a place on east LSD though.
“The lack of balconies at WT, JH and other “luxury” hirises make them unattractive to many buyers.”
A balcony on the 72nd floor? With the wind, that’d have to be somewhat uninviting and dangerous. I could just see someone’s metal hamburger spatula flying off the grill and cracking into some tourist’s skull at sidewalk level. I guess the Park Hyatt bldg. has balconies, it’d be interesting to hear the rules they have, or any anecdotes.
They could have designed “interior” balconies such as are found at 1200 N. Lasalle, etc.
Also, regarding the sex-specific bathroom features: This was a wave-of-the-future fad in luxury home building back in the 70’s. His & her baths with gender-oriented plumbing was a definite upgrade from the unisex fixtures that we of the masses are familiar with.
I think I’d get vertigo from a balcony so high up.