Get a Corner 3-Bedroom With Lake Views for $699,000: 100 E. 14th in the South Loop
This corner 3-bedroom in 1400 Museum Park at 100 E. 14th in the South Loop came on the market, originally, in October 2020.
Built in 2008, at the height of the housing bubble, 1400 Museum Park has 260 units and an attached parking garage.
The building has door staff, an indoor pool, exercise room, party room and bike storage.
This unit has wraparound floor to ceiling windows and east, north and west views including some of the Lake, Soldier Field and Willis Tower.
It has Italian tile flooring throughout, including in the bedrooms.
The kitchen is open to the living/dining room and has wood cabinets, stainless steel appliances and granite counter tops.
The primary suite has a walk-in-closet and bathroom with both a large tub and walk-in-shower with a double vanity.
The listing says the third bedroom could be a home office or den.
It has a balcony.
The unit also has the features buyers look for including central air, washer/dryer in the unit and one car garage parking is included with a second space available for $35,000.
This building is near the shops and restaurants of the South Loop as well as Grant Park, Soldier Field, the Shedd and other museums of the Museum Campus.
Originally listed in October 2020, which was during COVID but before a vaccine was announced, for $784,000, it has been reduced multiple times over the last 2 years and is now at $699,000.
That is under the original 2008 purchase price of $714,500.
Is this a deal?
Stefanie D’Agostino at Redfin has the listing. See the pictures and floor plan here.
Unit #2301: 3 bedrooms, 2 baths, 1695 square feet
- Sold in July 2008 for $714,500
- Originally listed in October 2020 for $784,000
- Reduced several times
- Currently listed at $699,000
- Assessments of $1060 a month (includes heat, a/c, doorman, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $16,132
- Central Air
- Washer/dryer in the unit? (It doesn’t list it but a condo building from 2006 would have had it in the unit and there appears to be a spot for it on the floor plan.)
- One car parking included
- Second parking space available for $35,000
- Bedroom #1: 16×11
- Bedroom #2: 15×12
- Bedroom #3: 13×10
- Living/dining combo: 23×16
- Kitchen: 20×10
- Balcony: no dimensions provided
No Cable or Internet in the HOA? Deal breaker
Space is pretty good, view is solid. But for the love of all that is holy wtf is up with the paint choices. I hate the white/grey combo but this markedly worse and the chose these colors for the refresh
$6k/mo – GTFO
Owner KNOWS WHAT HE’s GOT and must like paying carrying costs, this needs to get in the $600k w/ both spots
Jul-08 + CPI = $968k
+ CPI to Oct-20 was $845k
Yes, the original purchase included both spots.
$784 in Oct-20 + CPI = $897k
So, -$200k in real dollars on the ask, and ~$60k in HOA + taxes. That’s a buzzcut.
Unit is fine. Looks very mid-Aughts–only update appears to be the dishwasher. Another one where I’d want an appliance update, if I were buying.
damn, those taxes are more than my SFH in a better neighborhood.
“So, -$200k in real dollars on the ask, and ~$60k in HOA + taxes. That’s a buzzcut.”
Seems like a deal for a true 3-bedroom with views.
What do people think of the Italian tile floors?
If you don’t like them, could be the reason it’s not selling. It’s a HUGE cost to replace with real wood floors. Probably $30k to $50k depending on the quality you put in. Of course, could go cheaper with laminate or luxury vinyl. But still have to remove all the tile.
What if you painted the tile? Used marine paint and painted them all white? Just white wash the entire unit?
I think many sellers underestimate the painting part of selling. It DOES cost a lot. How much is it to repaint this entire unit? (without the floors or kitchen cabinets?) Probably $5k to $8k if you have some good painters.
Buyers don’t want to do any of this. Just want to move in. This is why Renovation Sells keeps expanding its business.
I don’t mind the tile floors, you can go shopping for some nice rugs then 🙂
“those taxes are more than my SFH”
’21 taxes are $14,465.06 for the unit (AMV=750,500) and what looks like $250 per parking spot.
[Editor’s note: Please don’t discuss seller personal info on the blog. I have removed the comment. Thanks.]
Fitness and pool rooms do have nice views.
What do people think of the Italian tile floors?
If you don’t like them, could be the reason it’s not selling. It’s a HUGE cost to replace with real wood floors. Probably $30k to $50k depending on the quality you put in. Of course, could go cheaper with laminate or luxury vinyl. But still have to remove all the tile.
What if you painted the tile? Used marine paint and painted them all white? Just white wash the entire unit?”
Tile floors are fine, the realator jacking up the color saturation and wall paint selection likely makes them look a lot worse than they really are.
Not sure why you’re so fixated on “Marine Paint” and why you think its some magic product. Its going to fail and the prep work required to get a good bond is going to be challenging to put it mildly. You’re probably etching with Muriatic acid – hope everyone on the floor is going to be gone while you do this Also the grout lines are going to fill up with crap and look terrible. When it fails (not If), patching is going to stick out like a sore thumb.
“Buyers don’t want to do any of this. Just want to move in.”
I would think most buyers repaint, a majority may even refinish wood floors. All if this is easily done prior to moving in. Sure it costs money but it’s really something that most homes need unless new.
“What do people think of the Italian tile floors?”
Nobody wants tile floors in a high rise in a cold climate like Chicago, as the floors are absolutely freezing in the winter, even with rugs. The only exception would be radiant heated floors.
I am sure this a big reason this place isn’t selling, particularly this time of year, plus the tile color is simply ugly too.
If I was looking for a larger condo, this is a place I would consider making a super low-ball offer. The floors have to replaced, all walls repainted, built-ins in office removed, paint bathroom cabinets, and completely remodel the kitchen. That would be something like $150k. Depending on how many hours the building allows loud construction noises (my building is 3), it would maybe take 2-3 weeks to get 90% finished.
Condo definitely has w/d. I looked at one beds here and they had them. Pool and fitness room views were one of the best.
I’d want to be higher up. The views seem blocked by too many other buildings. I do like the floor to ceiling windows, though.
The entire place reminds me of a 2001 built faux-tuscan condo in Chandler Arizona. Needs a big remodel to sell at any premium whatsoever.
Not a fan of tile floors, but they look better in the 3D walkthrough than they do in the pics.
Those plug in sconces in the primary bedroom are making me irrationally angry.
Based on the ’08 price, this is a deal; but that 2008 price seems insane.
$700K for a 3 bedroom. Wow that’s cheap! How low will Chicago prices go? This has got to be below construction cost.
“$700K for a 3 bedroom. Wow that’s cheap! How low will Chicago prices go?”
Downtown neighborhoods haven’t recovered from covid or the protests.