Flipper Alert: What’s a 1-Bedroom Condo Like in Trump Tower?
There’s been so much hype about Trump Tower Chicago, at 401 N. Wabash in River North, you’d think the sinks were made out of gold.
But, alas, the sinks (and kitchens) look pretty much like every other luxury 1-bedroom condo in the city.
Here are some pictures from a west facing 938 square foot 1-bedroom on the 43rd floor. You be the judge.
Here’s the listing:
Amazing opportunity to live in the Trump Tower!! Large, west facing one bedroom with 10 ft floor-to-ceiling windows and spectacular city views.
Top-of-the-line finishes include Snaidero cabinets, Wolf & Miele Stainless Steel appliances, granite counter tops, marble bath, Brazilian hardwood floors, and custom paint.
Amazing Health club, spa, and 5 star over the top amenities. Prime parking an additional $70k.
Thomas Moran at Sudler Sotheby’s has the listing. See more pictures here.
Unit #43E: 1 bedroom, 1.5 baths, 938 square feet
- I don’t have the original closing price
- Currently listed for $650,000 plus $70k for parking
- Assessments of $500 a month
- Taxes are “new”
Wow. That is some SERIOUS boring.
Hey look, I cant believe trump would put his name on anything boring, overpriced, and unspectacular **
For the life of me I can’t understand why anyone would pay that kind of money for so little space and $500/month, which is probably understated. Go rent somewhere, invest the savings and retire early.
Madness
As I mentioned before, the living rooms are tiny, cannot fit a dining room table in them. These units will be a tough sell. Also a couple of years ago they were selling for around 900k.
“Amazing opportunity”. LOL. Aren’t there units still available from the developer? If there is a building that embodies the greed and excess of this bubble it is this building. This will sit on the market until it is priced below 500K. I guess it’s most likely the seller will be in foreclosure first.
“custom paint”
Trump upcharged for white? What was the standard paint?
My guess is that this unit is priced below that is being sold through the Trump.
I’ve walked though several units. The finishes are average. The only thing high end are the appliances. Plumbing fixtures are Kohler. For this money I want something better. Kohler is available in 75% of new developments. The snaidero cabinents are probably the cheapest model available…close to developer grade cabinetry.
Also, if this is a west facing unit (as described) why is the view in the listing facing north
Buying a Trump property is all about buying image, not quality. Just like the Donald himself.
I remember the first time I went to visit a friend in Trump Tower NYC and I was expecting the lap of luxury. He was paying about 5 times what I was and the thing was an egg and a cookie cutter. I learned a lot that day. Of course in the strip clubs it worked like a charm saying he lived there.
Very beautiful building though. Awesome spot on the twist of the river.
Some young couple in the building I live in were moving out one day and I asked where to.
“Oh we’re moving into a condo we just bought in the Trump tower!”
Seriously, ….I highly doubt they could afford it. They were young (no older than 25) just married and definitely didnt look like they could afford it. My bet is they bought a studio. But hey, they get to tell everyone “we live in the Trump tower!”
Congratulations on being more than a half million in debt.
a…
was she a stripper?
IB..if she was, I sure wouldnt tip her…
a,
Its tough to make assumptions without knowing their financial situation. There are a lot of people from money that act like everyone else. In fact I had a gf one time whose mother had passed away and learned she had a sizeable inheritance. You would never have guessed her wealth from interacting with her: not snobbish in the least and from what I assumed was a middle class family.
Or howabout those people that win the lotto but claim anonymously. Theres a reason for that. Being thought of as rich I’d imagine can be just as much or more of a liability than being thought of as not rich.
Bob… it’s almost always nouveau vs old money. Incredibly easy to tell the difference. I walked down the street in Chicago and always commented to my wife how funny it is that everyone looks so much richer than we do. The labels are almost always a sign of insecurity. Who in their right freaking mind pays 3k for a canvas bag that if you changed the letters on wouldn’t be able to sell for $20. Most girls walking around with those things have the self-esteem of my pet rock.
IB,
Of course. But don’t be fooled by the labels. A friend of mine has a business on the side where he sells counterfeit luxury labeled goods for a small fraction of what they retail for. Of course he’d never admit they’re not the real deal, they’ve all fallen off the truck! LVMH? $20–no problem!
The counterfeits have gotten so good I wouldn’t be surprised if the majority of sightings are indeed not the real deal.
The majority are definitely not the real deal. Led to a great convo once… Who is more pathetic the person buying the counterfeit in order to pose as the pathetic person buying the real thing, or the pathetic person who buys the real thing.
Well today.. 4th showing this week. All set up by the doorman. I didn’t think it possible, only 2 weeks ago, that my opinion of the need for realtors could get even lower.
“Who is more pathetic the person buying the counterfeit in order to pose as the pathetic person buying the real thing, or the pathetic person who buys the real thing. ”
Given that they are frequently both made in the same factory, the one who pays $10k for a bag that looks just like one 10 others paid $40 for.
The WSJ had articles in the past about how chinese factories would make the real shoes by day and then make the counterfeit ones all night. It’s gotten so bad that some of the high-end luxury goods brand name owners actually stopped production at overseas factories. But now it’s all becoming moot; Chinese factories are closing by the thousands. Our recession means we aren’t buying as much as their cheap crap anymore. 20 million Chinese have lost their job in the first six months of this year alone.
http://business.timesonline.co.uk/tol/business/economics/article4925762.ece
I think that many who would consider buying a one bedroom in Trump are those who want a peid-a-terre – ie suburbanites who want a second place in the city. They consider location and the availability of amenities. Trump has a great location, has an incredible 60,000 sq ft spa, will have 100,000 sq ft of retail, a great restaurant and cool bar, and the units are brand new and nice. Kohler faucets can be replace pretty easily, these other things cannot. Obviously this market is a once in a hundred years market, so not all the same rules apply.
IB,
They said that they had to move back home with her parents for 6 months to save some money.
Yup.
“I have to move home with mommy and daddy for half a year so I can save for my trump tower condo”.
Does anyone know what the original purchase price of this unit or similar units in Trump are? I heard that pre-contruction pricing was down around $450 per sqft. Also, $70k extra for parking…did they have to pay that when they purchased, or is that just another way of raising the price above the $693 per sqft. they’re already asking?
I never even made it into their salesroom back when i was looking but i remember hearing it started about 660sq ft then jumped to 1,000. but don’t hold me on any of that.
typo.. i meant started 600 per sq ft
If I had the wealth and were so inclined I’d rather get a place at the Legacy at Millenium Park. While its not completed yet, its architecture looks neater in my view (stacked monoliths) and for those interested in status it is going to have a sky walkway directly connecting it to the Chicago Club (an old money club). I’d imagine those interested in status might find this a more appealing amenity than Trump’s name but who knows.
Maybe instead of opening doors for residents the club will instead help sales by selling peid-a-terre’s to current members. I think if you can afford the 550k for a 1br though with normal financing then they would probably welcome you too though.
I’m contemplating between buying in one museum park east or 340 on the park. 340 on the park seems like a flipper building and i personally love the north facing view from the high floor that I am considering in one museum park. do you think that the units in one museum park with north facing views are going to hold value like other buildings such as the legacy, trump, 340 on the park, the waterview? what do you think a one, two, three bedroom with north facing views is worth in one museum park east.
I don’t understand why people keep asking why other people would spend this much on a small space… HELLO!!! It’s LOCATION LOCATION LOCATION! I mean when is the idea of you’re spending money on “LOCATION, LOCATION, LOCATION” going to get drilled into people’s head? I expect better from you people. Anyway, if anyone noticed the banners during Trump’s construction, it all said “BOVIS”, aka the same builder that worked on CMK’s projects. Aside from the ceiling and appliances, this condo looks remarkably like something you’d find in a CMK building or some other Bovis made buildings.
JackDer:
Trump Tower is located in a “B” location. So no use in arguing it’s about “location, location, location.”
It doesn’t have direct lake views and it’s not in the Gold Coast or LP. It’s near the tourist areas of River North. That’s about it.
They knew it when they built it there.
Here we go again… Sudler Sotheby’s requires you to register to simply look at the listing.
LAME!
IF you can afford it TT has pretty excellent location.
Lets be honest TT isn’t appealing to those who know the area and are willing to commute. Instead TT is appealing to most out of staters (foreign & otherwise) who have enough who just want to live in the tallest residential building either in the midwest or possibly the country. I admit I am unaware of what Manhattan has going on but chances are not a highrise as tall as this.
That being said, TT has an audience and a market. The location is pretty good too if you can afford a place there.
Sorry Jamesy. I see that too when I click on the link. I’ve never registered on the site myself- so this must be a new requirement.
It IS lame. It means I’ll link to other realtors so that all of you can actually see the listing. So those companies that make you register lose out on getting a lot of traffic directly their own websites.
Why would you want to do that?
Back on the subject of counterfeit products: if the cheap knock-off is nearly indistinguishable in every way from the expensive “real” one, I’d argue the “real” one should never be worth that much.
This reminds me of a certain LG phone that sold for about $300 but the “Prada edition” was about $700, and the only difference was the brand logo that was stamped on it.