Get a 3-Bedroom in a Streeterville High Rise for Under $430,000: 222 E. Pearson
This 3-bedroom in Pearson on the Park at 222 E. Pearson in Streeterville just came on the market.
I can’t tell if it is bank owned or not.
It is being sold “as-is” BUT it looks like it was part of that $17 million bulk sale of foreclosed units that took place in 2009.
This building was converted from apartments to condos just as the housing bust began in 2007. It never sold out. There were bulk sales of some of the units.
This unit does have the renovated kitchen and bathrooms, however.
The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.
In some of the models, this unit was converted into a 2-bedroom with that third smaller bedroom transformed into a dining room that was open to the kitchen.
It has central air, washer/dryer in the unit and valet parking is available in the building.
The unit is listed for $200,600 under the 2007 purchase price.
Is this a deal for the location and square footage?
Jeff Mrozek at Realty Executives Target has the listing. See the pictures here.
Unit #1402: 3 bedrooms, 2 baths, 1700 square feet
- Sold in January 2007 for $630,500
- Lis pendens foreclosure filed in 2009
- Bulk purchase for $17 million in October 2009
- Currently listed for $429,900
- Assessments of $933 a month (includes a/c, heat, cable, doorman)
- Taxes of $6252
- Central Air
- Washer/Dryer in the unit
- Parking is valet
- Bedroom #1: 12×16
- Bedroom #2: 12×14
- Bedroom #3: 10×10
I live right around here and it is truly a great neighborhood – it is amazing how quiet things become just one block east of michigan avenue (and north of chicago avenue). In my opinion, this little neighborhood (borderd by East LSD on the north, Michigan on the west, LSD on the east, and Chicago on the south is the best kept secret in Chicago.
My offer still exists for anyone wanting to take me up on it – Friday happy hour at La Grande Vie (215 E chestnut) – two buildings away from the building on this post. I will pay 25% of the tab of anyone tonight who mentions “clio” and “cribchatter”!!!
1700 square feet??? By whose reckoning? I looked at a diagram of the unit online (Dreamtown’s website) out of curiosity, and 1100–1200 would be a generous estimate. This definitely appears to be very similar in size to many average to small 2 BR units.
That said, I agree that it’s a great neighborhood, but given the “as is” and the fact that the “amazing views of Lake Michigan” in the ad really don’t look so amazing, this might be worth around 400K.
the no air conditioning and valet parking ruin it for me
“Listing provided courtesy of Jeff Mrozek, Realty Executives Target”
Hey Jack: your realtor pictures are horrible. Terrible.
I mean: Hey Jeff
The excellence of the views from this unit are only exceeded by the quality of the photos in the listing!
Nice to see you back, Clio.
The neighborhood is nice and quiet, but too many buildings are looking right into others, as this unit shows. I need open views if I’m in a high rise, so maybe I’d go for 999 LSD or one of the Mies buildings with a lake view if I were to buy around here. And I’m a big fan of the Hancock, of course.
how long is this happy hour taking place?
Great neighborhood but not a great building. However, it is difficult to find anything like this kind of space for under $500K in Streeterville, so I imagine this place will move very quickly at this price.
“BUYER TO TAKE ON CITY REPAIRS”
Do I have to fix the schools *and* deal with the pension issues? No deal.
Also, the map in the listing shows somewhere in Roselle/Bloomingdale.
photos are impressive. while most listing shots stretch the rooms to make them appear bigger, these do the opposite.
No AC in the listing, but AC included in the assessments?