Get a Top Floor 2/2 in this Edmund Krause Designed Mid-Rise: 1500 N. LaSalle in Old Town
This 24-unit vintage mid-rise at 1500 N. LaSalle on the corner of LaSalle and Burton in Old Town has been quite popular as of late.
There are currently 5 units on the market and 3 are under contract. They are all 2/2s and they are:
- Unit #6B: 2/2 at $465,000
- Unit #1A: 2/2 at $439,900
- Unit #2C: 2/2 at $400,000
This top-floor 2-bedroom is one of only two that is still available and it’s listed for $459,900. It has been listed since May.
I can’t find a date on the building but it was apparently designed by Edmund Krause (1859-1935) who designed 61 buildings in his lifetime. He specialized in mid-rise apartment buildings such as this one and also designed The Commodore at Surf and Broadway in Lakeview.
Krause’s best known building is the Majestic Building at 22 W. Monroe in the Loop, better known as the Schubert Theater.
This unit still retains some of its vintage features including crown molding.
The unit also has built-in bookshelves and a fireplace.
The kitchen has granite counter tops and stainless steel appliances.
It has features buyers look for including central air and washer/dryer in the unit.
There is, however, only limited parking with the building and not every unit has a parking space. This unit does not. It is available to rent in the neighborhood.
Is the mid-$400,000 price point the magic price in this building?
Jenna Smith at Redfin has the listing. See the pictures here.
Unit #6C: 2 bedrooms, 2 baths, 1500 square feet
- Sold in April 1992 for $128,000
- Sold in February 2002 for $357,500
- Sold in July 2003 for $409,000
- Originally listed in May 2013 for $459,900
- Still listed for $459,900
- Assessments of $488 a month (includes cable)
- Taxes of $5544
- Central Air
- Washer/Dryer in the unit
- No parking- rental in the neighborhood
- Bedroom #1: 14×14
- Bedroom #2: 12×10
- Den: 13×9
Pending
The pictures are for unit 6B, not 6C.
Looks nice, reasonably priced and in a very nice location no surprise these will sell fast in today’s market
Signs the market is hot:
Back in April I set a “Make Me Move” price for my condo on Zillow. I have zero expectations of getting an offer and am not serious about moving, but I figured it wouldn’t hurt anything to list a price. Today, I got an unsolicited call from a realtor at the main office number at work asking if she could represent me as a seller rather than me FSBO. This woman somehow must have found my Make Me Move listing, googled me to find out where I work, then called the front desk to try to get ahold of me. Crazy!
“This woman somehow must have found my Make Me Move listing, googled me to find out where I work, then called the front desk to try to get ahold of me. Crazy”
Did you tell her to come visit the Sanatarium during normal Visiting Hours?
i too have gotten unsolicited offers from a realtor to list my E. Lakeview condo for >20% more than than I paid for it in 2011. a unit in my building just rented for about $1k more per month than I pay on my mortgage! the market is indeed hot.
This place doesn’t have any direct outdoor space or parking, carries a $465K price tag, and is now pending. My place is very comparable to this. If this is place goes for $465K without parking, I am listing mine soon.
JP$- some of the others are selling for close to that and most didn’t have parking.
You should be listing now.
And yes- it IS now pending (as the others in the building are.)
The interesting thing about this building is that you couldn’t give these away in the last few years (at least at the prices people wanted to sell for.) That tells you how much the market has really changed.
The market is hot because realtors are looking for places to list? Isn’t that their job? Of course they want listings in a market with low inventory. The problem is listing your unit on the market at >20% more than you paid or even at what you paid or even less doesn’t mean it will actually sell.
Yes, many listings are going fast, but I see many sitting and sitting and some going under contract and then falling out (many repeatedly). Having a realtor want to list your place does not equal a sale, much less at the price you want.