Get a 2-Bedroom Duplex Down Under the 2007 Price: 125 W. Oak in the Gold Coast
This 2-bedroom duplex down in the Oak Club at 125 W. Oak in the Gold Coast came on the market in March 2022.
Built in 1992, The Oak Club has 52 condos with a gated central courtyard. There is garage parking. I always assumed these were townhouses, given that some have attached garages, but this property is listed as a condo.
This unit has 1770 square feet on two levels.
The main level has the living room, dining room, half bath, kitchen and primary suite.
The second bedroom is on the lower level along with the laundry and access to the garage.
There is a fireplace in the living room.
The listing says the kitchen has been “updated” and has granite counter tops, a breakfast bar that seats 3, wood cabinets, stainless steel appliances.
There is a bar area with a wine refrigerator in the dining room.
The primary bedroom has an en suite bathroom with a walk-in-shower and separate tub along with 2 walk-in-closets, one of which was turned into a home office.
The lower level bedroom has a custom closet and en suite bath.
I don’t see any private outdoor space on the floor plan but the Oak Club is across the street from Washington Park, which is popular with neighborhood residents and is dog friendly.
This unit has the features buyers look for including central air, washer/dryer in the unit and private attached garage parking, which has storage.
The listing says there was a new furnace in 2021 and the association put on a new roof only “a few years ago.”
The listing also says: “Seller is providing a one year home warranty at closing.”
This complex is near the shops and restaurants of the Gold Coast and River North, near the Mag Mile, Oak Street Beach and other amenities.
Originally listed in March 2022 for $729,900, it has been reduced to $664,900. That is under the 2007 purchase price of $685,000.
Is this a deal?
Lauren Dayton and Burt Bhairoo at Jameson Sotheby’s have the listing. See the pictures and floor plan here.
Unit F: 2 bedrooms, 2.5 baths, 1770 square feet, duplex down
- Sold in October 1995 for $325,000
- Sold in May 1998 for $347,500
- Sold in May 2005 for $592,500
- Sold in August 2007 for $685,000
- Originally listed in March 2022 for $729,000
- Reduced several times
- Currently listed at $664,900
- Assessments of $602 a month (includes cable, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes of $14,120
- Central Air
- Washer/dryer in the unit
- Fireplace
- Bedroom #1: 16×13 (main level)
- Bedroom #2: 16×15 ( lower level)
- Living room: 17×14 (main level)
- Dining room: 15×12 (main level)
- Kitchen: 13×10 (main level)
- Office: 7×5 (main level)
- Walk-in-closet: 7×5 (main level)
- Laundry room: 4×8 (lower level)
Per Zillow this was originally listed in Nov 11 for $720k
GC is HAWT(tm)
SF includes the garage and in generous including that
The kitchen has been updated to circa 2000’s McMansion?
This is not updated enough nor cheap enough to generate much interest
Unit D is contingent (and in bigger need of an update) – will be interesting to see where it closes
There are ‘townhouses’ in the ass’n, too, but they are also condos–no fee simple. Here’s one:
https://www.redfin.com/IL/Chicago/123-W-Oak-St-60610/unit-H/home/14110601
Asking 10% less (nominal) than the ’16 purchase.
Asking 35% less (real) than the ’02 purchase; 30% less (real) than ’06 purchase.
This place, at 30% off the ’05 purchase would be $635k–so, in the ballpark, I’d say.
“GC is HAWT(tm)”
We’ve only be talking about how the downtown is a terrible market for the last 3 years. It is why I continue to post properties there because there are deals. There is too much inventory.
I normally like duplex downs but I’m not sure I like it as much if it just has a bedroom in the lower level. Why not just buy in a nearby condo building for the same price with all the living space on the same level? You wouldn’t get the private garage though.
“We’ve only be talking about how the downtown is a terrible market for the last 3 years. It is why I continue to post properties there because there are deals. There is too much inventory.”
This isnt a deal, its catching a falling knife
Could be worse, could have bought in Bronzeville
Can you crib on this next? Pricing strategery is interesting
https://www.zillow.com/homedetails/4317-S-Calumet-Ave-Chicago-IL-60653/2094481094_zpid/?
From the size and location, I can see why they had to lower the asking price. And now they need to lower it some more. Nothing here that’s worth almost $700,000.
Not that exciting for how much it will cost each month.
Exactly, Nyet. Who’d want to pay all that for this? It’s dull and functional, not exciting at all. I don’t even like the location. Kind of a dead zone. Too far west of Michigan and Rush and too far north of the fun part of River North but too far south of Old Town. I guess it’s relatively quieter, though.
“too far south of Old Town”
It’s 2.5 blocks to Division/Wells
“Too far west of … Rush”
It’s 3 blocks to Gibsons
When did 3 blocks become “too far”???
Also, Wells b/t Chicago and Payton is in the process of completely transforming, which “should” activate that area.
OK, Anon, I get your points. I just feel like Oak west of Clark gets kind of quiet and dull pretty fast. And none of those places are really a long walk except in the dark/cold/ice/snow (meaning now and for the next four months).
“Also, Wells b/t Chicago and Payton is in the process of completely transforming, which “should” activate that area.”
There’s already the first of several high rises that has gone up just a few blocks west of this complex. Windows will be going in shortly. A couple thousand people will be moving in over the next few years just west of here at the Moody’s development.
I feel like this area used to be quiet about 10 years ago but there’s been a lot of new apartment development just to the south and west, with more to come, so that’s not the case anymore. The Aurelian, for example. The restoration of the Flats at Clark and Chicago.
“OK, Anon, I get your points. I just feel like Oak west of Clark gets kind of quiet and dull pretty fast. And none of those places are really a long walk except in the dark/cold/ice/snow (meaning now and for the next four months).”
Four months? Really? It will be dark and cold into April?
Shameful Dan #2. You are a native and even you buy into the Chicago weather propaganda. Lol. Up until the blizzard this week (ha ha), has this winter been so cold and dark that you wouldn’t walk over to the Foxtrot or the handful of coffee shops within 2 or 3 blocks?
If so, then you should really move out of the north AND you aren’t really a city person because this complex is in a pretty nice location. Just removed from the main drags with lots of traffic and tourists but close enough to get to nearly everything in Old Town, Gold Coast, Mag Mile and parts of River North. Streeterville is a bit of a hike though.
I toured one of these a few years back. The second bedroom in the basement isn’t really a legal bedroom, as there are no egress windows and there isn’t a door to the room either.
“Oak west of Clark gets kind of quiet and dull pretty fast.”
Yes, I, too, prefer to live *in* a 4 am bar. Preferable one with a ‘shooty’ group of regulars.
Loud *and* exciting!
“Four months? Really? It will be dark and cold into April? ”
yeah its usually dark and cold through may lol
“usually dark and cold through may”
cold, maybe, but unless it’s also “dark” in the middle of August…
May 1 = 14:01:56 rise to set
August 12 = 13:59:41 rise to set
“you aren’t really a city person because this complex is in a pretty nice location.”
Perhpas “pretty nice” isn’t exactly what most buyers of a 2 (?) bed at this price point, or in Good Dan’s stage of life, are looking for. When my inlaws (also LV natives like Good Dan) left the burbs to return to the city in around 2006, I believe they were about to make an offer on a place at the Oak Club, but instead went with something in the northeastern corner of the GC. I don’t think they regretted that choice at all, and I know (making my way up Dearborn to ELP M-F evenings for about five years) that I frequently glanced over at the park, the OC and the immediate neighborhood in general and thought, wow, did they ever dodge a bullet. I mean, don’t get me wrong, the nearby Dave & Busters no doubt added to the posh, refined vibe right there, and I’m sure that residents at the OC who are now selling at a loss miss having it right outside their gates, but a few blocks in various directions really can be meaningful from a quality of life standpoint.
“I don’t think they regretted that choice at all, and I know (making my way up Dearborn to ELP M-F evenings for about five years) that I frequently glanced over at the park, the OC and the immediate neighborhood in general and thought, wow, did they ever dodge a bullet.”
2006????
My god. Neighborhoods have completely changed. That’s 17 years ago! Like I said, there has been a big rush of new high rise apartment buildings and conversions of old buildings in the immediate vicinity to the Oak Club. There’s development all over the place, including at Moody’s.
I don’t blame them 17 years ago. I wouldn’t have wanted to live in the West Loop or Fulton Market 17 years ago either. But that’s an entire generation removed. Today, in 2022-2023, it’s a different analysis.
If anything, other parts of the Gold Coast are actually out of favor now, versus 2006.
Oh, and Washington Park is one of the city’s best smaller parks. The neighborhood uses it constantly (sometimes too much, with the doggie area.) The fountain is wonderful and dozens of people every day will read, chat, sleep, work on computers sitting around that fountain during the summer.
Again, this isn’t 2006. It’s actually a delightful area and all the building is only going to bring more restaurants, coffee shops, and shops.
“I mean, don’t get me wrong, the nearby Dave & Busters no doubt added to the posh, refined vibe right there, and I’m sure that residents at the OC who are now selling at a loss miss having it right outside their gates, but a few blocks in various directions really can be meaningful from a quality of life standpoint.”
You really don’t live in Chicago, or have any clue, if you think this neighborhood is about the Dave & Buster’s.
Nope.
It’s about the wonderful new Foxtrot in a historic building with great (heated!) outdoor seating. Even in winter. It’s about Deep Purpl opening up in the new high rise part of Bush Temple. And you have many of the old standbys on Rush but those are turning over now too as a new generation moves into this area. There is SO much here. Mexican coffee shop. Joe’s Juice. Several Starbucks. Antique Taco.
GenZ will seek out even more amenities and restaurants. Could use an Indian or Thai place, in my opinion.
“yeah its usually dark and cold through may lol”
Dark? Everyone springs forward in mid-March now.
Again, it’s just stupid to say it is both dark AND cold through May. And what is “cold”? Given Chicago’s location, it does not get early spring like St Louis, Louisville, Indianapolis or Nashville. I do get tired of the 50s and 60s that can last into May. It’s one of the reasons I would consider moving just a few hundred miles to the south.
https://livethebushtemple.com/floorplans/
Check out the prices on these small 1-bedrooms at the Bush Temple down the street. $2800 a month for a 500 square foot 1-bedroom. They are nearly fully leased.
The 2/2 is just 933 square feet. $4000 a month. Even if you’re splitting with a roommate, still $2k each.
“I mean, don’t get me wrong, the nearby Dave & Busters no doubt added to the posh, refined vibe right there”
We’re getting a D&B in FTW.
Looks like were a bIG CiTY!
“It’s about Deep Purpl opening up in the new high rise part of Bush Temple”
It would have been more impressive hearing Deep Purple belting out Highway Star up at Bush Temple.
“Antique Taco”
WTAF? Where?
Or did you mean Velvet Taco–as if we need a Texas chain to get tacos in Chicago.
“Joe’s Juice”
Funny!
“Or did you mean Velvet Taco–as if we need a Texas chain to get tacos in Chicago.”
Sorry- Velvet Taco. Does it matter that it’s not from Chicago? No. It’s extremely popular and has a great second level which overlooks what is going on out on the street in the summer. You should try it sometime anon (tfo), if you even live in Chicago, which I doubt.
Yes, Joe & the Juice. I never remember the names of the restaurants. I just go to them. That’s not Chicago either. Danish?
The neighborhood could use another Mexican restaurant, for sure. The Blue Agave closed during the pandemic. Nothing has gone into that space.
Why don’t you like to support actual local businesses?
“Sorry- Velvet Taco. Does it matter that it’s not from Chicago? No. It’s extremely popular and has a great second level which overlooks what is going on out on the street in the summer. You should try it sometime anon (tfo), if you even live in Chicago, which I doubt.
Yes, Joe & the Juice. I never remember the names of the restaurants. I just go to them. That’s not Chicago either. Danish?”
Do you even live in Chicago?
“The neighborhood could use another Mexican restaurant, for sure. The Blue Agave closed during the pandemic. Nothing has gone into that space.”
A Taco Bell perchance?
“Do you even live in Chicago?”
According to Bob the Bear I live in India and post remotely.
“A Taco Bell perchance?”
I don’t mind The Bell. There already is one on Chicago near State. Otherwise, you have to go down to Rick Bayless’ places which are always crowded. Would love to see a semi-casual Mexican go in. Maybe the Moody’s development will answer the call.
“Why don’t you like to support actual local businesses?”
You don’t go to Starbucks anon(tfo)? (little known fact, but Chicagoland area was the first major market outside of Seattle that Starbucks expanded to because it’s considered the ideal market for restaurants/food.)
You never went to Julius Meinl in Southport when it was there for 20+ years? (It’s Austrian.)
I enjoy going to the La Borra Cafes. It’s a Mexican coffee shop chain, from Mexico. I also go to 5 Guys, Smashburger, and Shake Shack, none of which are “Chicago” chains as well as go to Chicago burger places like Epic.
But you are pointing out one of the downfalls of this neighborhood. The rents are extremely high making it hard for local restaurants to make it there. Same with shops/retail which is why it’s mostly chains for that too. Deep Purpl is a local chain so I’m glad to see it moving in. I hope it makes it as it just opened.
There’s also an Egg Harbor Cafe going in on Chicago Avenue. Not sure if that’s a national, or local, chain.
In addition to Mexican, the neighborhood could really use an Indian or Thai place.
But those who choose to live in this neighborhood are already used to the international shops/restaurants. They are probably familiar with Joe & the Juice anyway.
The world is small now anon(tfo).
“According to Bob the Bear I live in India and post remotely.”
According to you, most of the commenters except Dan-Deuce and Bob do, too.
“According to you, most of the commenters except Dan-Deuce and Bob do, too.”
————————————
Rubbish. People in India don’t know anything about Bucktown.
“According to you, most of the commenters except Dan-Deuce and Bob do, too.”
Huh? We know JohnnyU lives in Indiana, as he has said many times. INDIANA. Not INDIA.
Lol.
No one has ever accused any commenter of living in India, that I can recall. But maybe at some point in 2009’s craziness and I just missed it. Ha ha.
“I don’t mind The Bell. There already is one on Chicago near State. Otherwise, you have to go down to Rick Bayless’ places which are always crowded. Would love to see a semi-casual Mexican go in. Maybe the Moody’s development will answer the call.”
You go right from a Bayless joint all the way down to Taco Bell? No intermediate stop at Chipotle while making a Run to the Border? Anyways, if you search “Chicago Mexican restaurants” and zoom into the Topolo-bro-bo vicinity, there are like at least a half dozen places.
“zoom into the Topolo-bro-bo vicinity”
That’s not in this “neighborhood”.
The frame was “you have to go down to Rick Bayless’ places”. That’s a long way–OVER half a mile!! from Washington Square to Frontera.
“We know JohnnyU lives in Indiana, as he has said many times.”
We also “know” that I am a single woman, retired pharma chemist, with multiple cats, as I have said many times. Because I adopted the persona that tehHof had for me.
It’s not a real mystery about JU’s recent/current primary residence, but it ain’t actually Indiana.
“The frame was “you have to go down to Rick Bayless’ places”. That’s a long way–OVER half a mile!! from Washington Square to Frontera.”
Right. Rick Bayless’ empire isn’t in this neighborhood. That’s my whole point. Now that Blue Agave closed, it’s missing a decent casual Mexican place. There IS a Chipotle, anonny, but there is no longer a sit-down Mexican place which isn’t fancy. Blue Agave closing was a real loss because it was cheap margaritas and the like. A lot of the restaurants in this neighborhood cater to tourists and conventioneers but there were those where locals went. I’m sure, as more apartments get built, including the Barne & Noble tower, that there will be some more local type places.
Brown Bag just opened a location at State and Division, for example. That’s for the locals.
You did correct my chemistry f’up
Hmmmmmmm…..