Get a 4-Bedroom in the Hancock for Under $650,000: 175 E. Delaware in Streeterville
This 4-bedroom in the John Hancock at 175 E. Delaware in Streeterville came on the market in April 2020.
Built in 1969, the John Hancock currently has no real “name”, as John Hancock withdrew it, but I’m going to continue to call it the Hancock until someone else pays for the naming rights.
It’s one of the world’s tallest residential structures with 705 units and attached rental parking. There are offices on the lower level.
This unit has views of Lake Michigan and Navy Pier.
It is a combined unit consisting of two 2 bedroom/2 bath apartments.
The listing says it has contemporary modern/art deco styling with a gray palette.
It has crown molding and custom carpeting.
The listing describes it as a chef’s kitchen with white cabinets, black granite counter tops, a wine cooler and Dacor range with a built-in breakfast table.
The primary suite has 2 full baths plus a sitting room.
It has wall air conditioning units and no washer/dryer in the unit, but the washer/dryer can now be installed.
Rental parking is available in the building for between $375 to $410 a month.
The listing says there are $15 million reserves for the building.
Originally listed at $849,000, it was recently reduced by $200,000 to $649,000.
Is this a deal for a 4-bedroom unit with nearly 3000 square feet?
Margaret Nagel at BerkshireHathaway HomeServices has the listing. See the pictures here (sorry, no floor plan).
Unit #6406-07: 4 bedrooms, 4 baths, 2988 square feet
- Sold in November 2002 for $505,000
- Originally listed in April 2020 for $849,000
- Reduced
- Currently listed at $649,000
- Assessments of $2082 a month (includes doorman, cable, pool, scavenger, snow removal)
- Taxes of $14,156
- No central air- but wall units
- No in-unit washer/dryer but it can now be added to the unit
- Parking is rental in the attached garage between $375 and $410 a month
- Bedroom #1: 19×12
- Bedroom #2: 19×12
- Bedroom #3: 18×11
- Bedroom #4: 18×11
- Kitchen: 12×26
- Living/dining combo: 66×28
- Sitting room: 9×9
- Foyer: 7×9
SO DATED, but I will say that it appears to have been perfectly maintained.
What’d the owner do…decorate it back in 1980 and never move in?
Somebody said it years ago on another unit. Cocaine. So much cocaine.
I had no idea you could do lines off a wall.
I wouldn’t change a thing, this is amazing!
“Somebody said it years ago on another unit. Cocaine. So much cocaine.
I had no idea you could do lines off a wall.”
Needs this – https://i27.servimg.com/u/f27/15/47/98/23/thewor10.jpg and the soundtrack from Scarface cranked up
There’s probably 1/2 a kilo of Bolivian Marching powder in the carpet
Listing sez that the living room is 66×28–are teh pix just irredeemably awful, or is that a typo?
Estate sale. And was purchased in ’03 in an estate sale.
Seems you buy this place when you are ~60, and live there til you are ~80.
24% price drop lol thats normal
“Seems you buy this place when you are ~60, and live there til you are ~80.”
Actually, nota bad place for an “upper” senior: Enjoy great views, bedrooms for any nursing staff; everything you want is right in the building; no need to pay for the overly expensive parking if you don’t have a car.
For a small fraction of the $200k (recent price reduction), they could have moved out all of the furniture and put up neutral paint. There’d still be a lot of work for a buyer to do, but it least it’d remove the weirdo / creepy factor.
If this is an estate sale, KK, you are assuming there is liquidity in the estate for one to actually put any semblance of real money in it. The other option is that the executor/trix themselves is pretty old and / or busy and doesn’t have a ton of bandwith to dedicate to this project. @AnonIDGAF, Since it is an estate sale, the price chop makes sense – – the initial ask was so no one could accuse the executor/trix of not doing what is in everyone’s best interest. Now with the tax bills due and other costs, they are getting serious about selling it.
Also, THAT TV in picture 12. LOL.
I also immediately thought lots of cocaine.
Also lel at the CRT in the office and shit kitchen TV.
@The Cat
Ah thanks for the explanation. I still don’t agree with it but I somewhat understand the legal insulation factor although a CMA should be a reasonable enough defense.
50k in expenses already blown not including opportunity costs.
From a buyers perspective I just pass up properties with massive price chops because I assume the seller is a greedy asshat or the property is entangled in legal issues. I’ve had greedy asshats refuse my offers before to only close on a deal a year later at a price lower than my offer. Guess I’ll keep that estate sale factor in mind.
Sometimes estate sales are great. I purchased my condo in 2010 from the Oriental Institute/U of C after they inherited it from deceased previous owner. They were the only ones to respond to my low-ball offer. Closing was quick and easy.
About this place. I seem to recall from other postings about Hancock (or whatever its new name is) that substantial renovations are challenging. Could that be reflected in the price?
“I just pass on properties with massive price chops.”
Hmm… to me that’s an indication that the owner is ready to be done with the property — open to negotiate and ready for a quick close.
Seems like a deal for the location and space but doubt they can sell unless they rip out all the horrid, offensive decor.
Also, the photos of the views are confusing. This big a unit can’t just look east, can it? Some windows must face north or south. I’m guessing it’s south, right into the Ritz Carlton, which probably ruins that exposure. Which is why they don’t show it. Just my theory.
I was curious about the floor plan. It is SE corner, with public rooms facing east and BRs facing south, assuming its the same layout as same combo units on 83d and 86th flrs. At this price, looks like a very good value (8606-07 sold for $1,377,000, and 8306-07 was listed most recently at $1,150,000), but those were totally updated and also substantially higher, so they clear WaterTower Place.
Not sure if this link will work, but I particularly liked 8306-07: https://www.movoto.com/realestate/175-e-delaware-pl-apt-8306-07-chicago-il-60611-461_10316567
Love ChicagoDog’s comment.
This unit is OK for the money if all you want is a large, comfortable condo in a choice location, and with reasonable HOA for a high-amenity high-rise building.
It’d be one of my last choices, though. It’s everything I hate about the post-WW2 era: bland, boring, sterile, with low ceilings and horizontal windows. Worse, it has diagonal beams.
JAH – if you like 8306-07 (it’s a nice one) check out 8301-02, which is even better. If I had $1 mln sitting around, this would be it.
https://www.urbanrealestate.com/property/175-E-Delaware-Unit-8301-2-Chicago-IL-60611-6W3TkpItBSj5.html
JAH – With 8306-07, you can see how important it is to clear Water Tower Place. As I said, a beautiful unit.
That said, I’d rather have a north view in this building. More iconic.
The Hancock’s HVAC system makes a loud hissing sound.