Get Your Own Private Terrace at Trump Tower Chicago: 401 N. Wabash in River North
This 1419 square foot 1-bedroom unit at Trump Tower Chicago, at 401 N. Wabash, in River North not only has a huge private terrace but it is also amongst the most expensive 1-bedroom condos available in the city.
Located on the 51st floor, there are city views from every angle from your private 2000 square foot fenced in terrace.
The listing says only 6 units in the building have the terrace space.
The unit has hardwood floors.
The kitchen has Snaidero cabinets, granite counter tops, and a luxury appliance package that includes Subzero, Miele and Wolf.
Who’s the buyer for a unit like this?
Philip Skowron at Crown Heights Realty has the listing. See the pictures here.
Unit #51G: 1 bedroom, 1.5 baths, 1419 square feet
- I couldn’t find an original sales price
- Listed in March 2010 for $1.495 million
- Still listed for $1.495 million
- Assessments of $1192 a month (includes doorman, cable)
- Taxes are “new”
- 2000 square foot terrace
- Parking is extra
- Bedroom: 18×16
- Living room: 18×20
- Kitchen: 14×11
“Who’s the buyer for a unit like this?”
A 28 year old star trader at Goldman. Too bad he lives in New York.
So the terrace is bigger than the unit. Too bad you can only use the terrace 3 months out of the year.
This building is so damn expensive.
Where’s Rex Grossman when the Donald really needs him?
““Who’s the buyer for a unit like this?””
Dennis rodman? Oh wait he doesn’t have any more money like most retired NBA players
Why are the assessments at this place so high, its not like you get free things from the spa or restaurant…
This place is ridiculous. There are tons of 1br’s on the MLS at Trump. Are they resales? Who is buying these places?
“This place is ridiculous. There are tons of 1br’s on the MLS at Trump.”
But this is the only one with outdoor space. And it has a LOT of it.
“Who is buying these places?”
No one, which is why there are so many listed.
I love that the parking spot isn’t included.
“But this is the only one with outdoor space. And it has a LOT of it.”
I wasn’t meaning to say this wasn’t a nicer unit (it obviously is, by virtue of that incredible outdoor space).
Look at #2536 in the comps on redfin. Been on the market since 11/08. That $30k price drop in 8/09 really brought the offers in!
“Look at #2536 in the comps on redfin. Been on the market since 11/08. That $30k price drop in 8/09 really brought the offers in!”
Which, of course, is why I noted that “no one” is who’s buying these. Not that 2536 is a comp, as it’s one of the hotel condo units.
Still, I’d prefer this one for $1.5 to, say, 32G for $875.
An 18’x16′ bedroom is like sleeping in a studio apartment, and very difficult to successfully furnish. All that “extra” space doesn’t translate into a better room or apartment. Wonder if two tiers of studio apartment plans were “married” into this odd 1-bedrm w/terrace unit.
very interesting.
amazing terrace that is for sure…how do you value a terrace though?
my rough attempt at this place.
1419 SF indoor space
2000 SF Terrace – usable 4 months of the year (imho)…1/3 of 2000 = 667 SF equivalent indoor space…and i’d cut it in half again because let’s face it, sometimes you just don’t feel like going outside so that equates to 333 equivalent indoor space…that seems a bit low so let’s call it 500 equivalent indoor SF.
Ridiculous view – $100K on top (i’m a fan of jim the realtor and this is basically his premium for a view)
and then there’s the problem with this being a 1 bedroom…what’s the high end $/SF of 1 bedroom, 1.5 bath in the city? yes, it is Trump and some people like the prestige, but how much do you pay for 1 frickin bedroom. “hey guys, come over to my $1.5 M place and let’s party…if you get to drunk feel free to crash outside on the porch!”…it can’t be much more than $500/SF…and that assessment does seem a bit ridiculous.
so here i go:
1919 equivalent SF @ $500/SF = $959,500
+$100k for the view
$1,059,500 as a fair price. my guess is $1.1 million as final sales price.
$1.495 seems pretty much insane. you’d have too much competition for sweet 2 bedroom places all over the city.
“Wonder if two tiers of studio apartment plans were “married” into this odd 1-bedrm w/terrace unit.”
Nope. The G unit has the same walls from 51-65, gets bigger (2/2.5 in 1952) from 66-71 and turns into an F-unit (tho same walls as 66-71) on 72-85.
“This place is ridiculous. There are tons of 1br’s on the MLS at Trump. Are they resales? Who is buying these places?”
Barry, i know a price like this is insane but if i had the FU cash i would buy this place just for the terrace!
then i would buy the condo next door 51F (if its architecturally possible) and ripp out the walls.
51G will be the kitchen/dinning/living room/family room and 51f Bedrooms and den.
or duplex up into 52g?
this is FU money remember dont kill my new dream
@ Groove77 – LOVE where your heads at. If I had this place, I’d wire it play the opening tune from Entourage everytime I walked in.
is that a shared terrace with 51A? just saw the floor plans?
Cant tell if there is a divider or its all one and you share it?
“@ Groove77 – LOVE where your heads at”
James, i would do an urban roof top garden like rick bayless is rocking and line the edge of the terraces with medium to short shrubbery, then……
so how do i get FU money again?
“If I had this place, I’d wire it play the opening tune from Entourage everytime I walked in.”
you need to add a smoke machine and release doves when you walk in.
You guys are crazy you can use the terrace at least 7-8 months out of the year, yeah most days in november and March I probably wouldn’t be out there but come on the weather here doesn’t make it “impossible” to use your terrace when its below 50 degrees out
1837sq ft 2 bed or 1419 sqft 1 bed +2000 sqft terrace with arguable the best view in Chicago.
I’d say 51G sells before 51F ($1.55m)
I think this falls into the unique category
“You guys are crazy you can use the terrace at least 7-8 months out of the year, yeah most days in november and March I probably wouldn’t be out there”
I agree with you. Especially with a bunch of patio heaters. We’re outside in our yard every month, tho hardly every day in Dec, Jan, Feb.
The wildcard is what the wind is like 600 feet up. I really have no idea.
“is that a shared terrace with 51A? just saw the floor plans?
Cant tell if there is a divider or its all one and you share it?”
Private. 51A gets the bulk of the total area–it has about 4000 sf of terrace. Divider is at the line b/t the units.
What about someone who doesn’t want guests? A baby boomer who has a home on the north shore where their kids come and stay- they want this to be their city place and when they are done entertaining on their sick terrace- they want everyone to go home. And I agree w/ Sonies- 8 months out of the year- I can golf in chicago 8-9 months out of the year, therefore I would use the terrace 8-9 months- and I would even grill in those other 3-4 months (thus still using the terrace). For sure in the unique category.
This is not to say it is how I would spend the money if I had it.
@ Groove – see the post’s first response.
how many units in the building has a terrace like this? bc if its one of the only ones, it def adds value. not this much value, but I can see this being worth a million or a little higher.
either way, the terrace is awesome.
Wasn’t it mention before that how are you going to stop people from dropping things on your terrace? Trump or no trump or South Loop property w/ terrace.
I wonder how much are the penthouses at Water Tower.
“how are you going to stop people from dropping things on your terrace?”
No one above this has a balcony. Are you really worried about people dropping stuff out their windows?
Ah…the reason despite the aesthetics that I would not buy at Trump. I want my outdoor space and grill
“Ah…the reason despite the aesthetics that I would not buy at Trump. I want my outdoor space and grill”
But this unit has tons of outdoor space. I don’t see the issue.
Oh. I am tempted to buy in the high-rise. I’ve done the high rise living before. But I’d rather get my attached housing in Old Town for 1.2mil.
Now, if I was a bond trader and I wanted to fill out some walls with flat-screen monitors and have two parking spots with my Range Rover HSE (black) and my Italian car in the other….then…ok I’m fantasizing like Grove.
Wonder if they will allow the hot tub like at the Wrigley place 🙂
Having been on the open roof of a 50-story downtown building, I wonder whether exposed terrace is often unuseable due to strong wind conditions. Yes, on a 100-degree day the wind will be at a standstill, but you’ll be able to fry an egg on your terrace too. You’ll recall the winter wind-force across IBM Plaza, which is a good example; now compound by 50-stories as the wind is channeled down the Chicago River corridor (lined with high-rises). Before purchasing unit, buyer better visit his prospective terrace several times under different weather/wind conditions.
You’ll note that high-rise roof-top pools usually have unglazed enclosure walls, to protect roof terrace patrons from the wind and to create some shade.
This place is pretty pimp. Its a great reminder to go and get my lottery tix.
Decks and balconies that are 500 ft. up are used 8 months of the year by smokers only. Imagine the wind out there. It would be a great deck for a chain smoker.
Is the tile in the bathroom $2.00 psf ceramic?
I’d bet theres some stupid, overly broad Chicago law against heat lamps on decks (even concrete ones like these).
“Most prestigious 1-bedroom home in all of Chicago”
Ah, but who has the most prestigious STUDIO, huh?
I’m sorry, but to me this would still be crazy at half this asking price.
Anyone else think the interiors at the trump are meh? Looks no better than most of the 03-06 cookie cutter places across the city.
Terrace is sweet, if the place had 2br I’d throw it in the maybe pile.
I’ve actually lived with a terrace that high up next door – at Marina City. The wind wasn’t bad, and we had the exact same direction / view just further around the bend. I will say that the Marina balconies are covered and not as directly exposed as the edge of this one.
Used it all year round but again due to covering I didn’t have to shovel. Small table heater worked wonders. I still miss watching the weather come in from the west / north.
How long can Trump keep these overpriced and non-selling condos on the market before he must sell them to cover the loan? There is NO way this building will sell out at current prices.
According to news reports, it’s not up to him (if it were he would have cut prices a long time ago- apparently). It’s up to the bank who gave him the loan. They are in litigation over this (and other) issues.
http://www.chicagobusiness.com/cgi-bin/news.pl?id=32000
If I had FU money I’d buy the neighbor’s unit, the unit above him and the unit above me. I’m pretty sure they all wouldn’t mind being bought out of one of the most insane purchases they’ve ever made. I don’t understand the hype of Trump Tower either. The finishes inside those condos are an insult. The Spa/gym is to die for, however.
“so how do i get FU money again?”
Mega Millions and/or Powerball. You gotta be in it to win it!
Trump terraces don’t allow you to put furniture out unless you take it in at. Night. Also no cooking. So – why pay a premium for a useless space which interrupts the view?
Is that because of wind issues? I wonder. So- the terrace is a complete waste. Because I don’t see how you’re going to move your table and chairs from the terrace into your 1-bedroom condo every night.
“Trump terraces don’t allow you to put furniture out unless you take it in at. Night. Also no cooking.”
Thats the dumbest rule I’ve ever heard
“Trump terraces don’t allow you to put furniture out unless you take it in at. Night. Also no cooking.”
WTF,
then how is this even really a usable space? is just a blank slab of concrete blocking an amazing view that will be a hassle to use and even more of a hassle to pay for.
What a waste, this sucks the dream is now gone and nothing to look forward to anymore.
Keep the dream alive. With all the units you are buying you can just got yourself on the Condo Board and change the rule(s).
“According to news reports, it’s not up to him (if it were he would have cut prices a long time ago- apparently). It’s up to the bank who gave him the loan. They are in litigation over this (and other) issues. ”
That is, of course, bs. The loan was approved using the pre-con release prices–if the building had sold out at the pre-con prices, Donald would have made his irr. The higher prices reflect higher carrying cost (bc of time), greed, and protecting those who closed already (which *is* something Trump does, at times).
“Is the tile in the bathroom $2.00 psf ceramic?”
From what I remember in seeing some units the bathrooms are limestone.
“Trump terraces don’t allow you to put furniture out unless you take it in at. Night. Also no cooking. So – why pay a premium for a useless space which interrupts the view?”
Bahahahahahaha
Wait I thought trump broke some contracts of very early pre-con purchases to jack up prices even more?
“Wait I thought trump broke some contracts of very early pre-con purchases to jack up prices even more?”
The F&F purchasers. Not the actual offthestreet buyers.
If the no-furniture rule was bc of the wind wouldn’t it apply to units along the lakefront as well? My FU money would also toss that rule right out.
“An 18?x16? bedroom is like sleeping in a studio apartment, and very difficult to successfully furnish. All that “extra” space doesn’t translate into a better room or apartment. Wonder if two tiers of studio apartment plans were “married” into this odd 1-bedrm w/terrace unit.”
You are kidding…right? TOO much space to successfully furnish? Not possible!! Once you put in a king bed (or, I assume, for this place an oversized, custom made king) required bdrm furnishings (could be eliminated with a custom closet) and maybe a sofa/chaise and big screen, there is not much space left.
My current bdrm is 24 X 20 with a triangle shaped office space on the narrow end and I find it not big enough for what I would LIKE to place in it.
Regarding the wind issue, the partial glass wall does provide some buffering from winds, so it is not that big an issue at 51 stories.
I do have an issue with furnishings being allowed on the terraces however…space and expectations for some foliage but the remainder of the space being required to be left empty? I recall this rule being in place when I toured the building shortly after it was first released for sales….and a hint from the rep that this rule ‘might’ be abolished once all terraced units were sold.
I wonder, is that beyone belief top floor PH still available? I would think if it did sell it would have made the front page of the Tribune?
“If the no-furniture rule was bc of the wind”
It’s not… it is in place to discourage breaking the aesthetic lines of the building…or so we were told.
I think in time this rule will be lifted.
“My current bdrm is 24 X 20…”
I laugh each time you brag on here.
All that said, and as much as I detest Trump, the man, if I were planning on being a permanent Chicago resident I would love to pick this one up with the hopes that unit A would become available…now that would be the place to live! Imagine that entire outdoor terrace for yourself?
For what it is, I think it is priced right…actually lower than I thought it would be if the top floor was going for $14 mil. Yes, it is still available.
I laugh each time you brag on here.
Don’t be a hater! and actually it is bigger than that with the office space…
I just laughed again.
Keep laughing…as you sit in your…rental studio…with no furniture.
Loser.
“Keep laughing…as you sit in your…rental studio…with no furniture.
Loser.”
Klassi! [imagine a heart on the i]
I think 1.4 mil is too much for this unit. But if I was a single bond trader, I’d be interested. This is / could be a serious baller unit.
Man, I’d want to buy this…but the right head won’t let me.
“I think 1.4 mil is too much for this unit.”
And it’s $1.5. Without a parking space.
Still a better value than the similar-sized units w/o terrace asking ~$900k.
You’re right about it being 1.5 and not 1.4.
I’d almost be wiling to pay 1.15 and with parking at 60 – 70k and two spaces.
so 1.25mil for this and two parking spaces. I wonder how much additional assessment for each parking space.
grrr….must stop looking at it and think of SFHs in 60614. But…man it would be a stupid emotional purchase for me for this place…
ok I am going to stop looking at this site for 3 days just to stay away from this property.
Have a good Memorial Day weekend.
“Keep laughing…as you sit in your…rental studio…with no furniture.
Loser.”
Aw, Stop. My laughter just turned to feeling sorry for you. Keep bragging about your big stuff. I’ll stop laughing and feign admiration and jealousy. Deal?
“My current bdrm is 24 X 20…”
“I laugh each time you brag on here”
Since we are bragging….My bedroom is i think 10 x 10, well really 10 x 9 because of the radiator.
B on May 27th, 2010 at 8:30 am
Keep the dream alive. With all the units you are buying you can just got yourself on the Condo Board and change the rule(s).
___________________________________________________________________
Fat chance. The poors who own the non-terrace units will display their condo envy every time the issue comes up for a vote and will think to themselves “Well if I don’t have a terrace, why should I let the guy with a terrace actually use his?” Then, they will try to make the terrace a common space and propose hanging a rope ladder off of the space for ingress and egress. This is how poors think.
Anyone else notice that the refrigarator opens the wrong way? If you are at work in the kitchen sink prep area you will need to walk out around the island to open the door and get the next item. 1.5 million and they can’t even get that minor detail figured out. Hmmmmmm…
I guess that the owner of this pad is never going to be cooking here anyway. The door opening this direction will make it easier to get out a chilled bottle of Cristal!
Maybe Bill Rancic and his wife should buy the pad. Hoepfully he saved all that Apprentice cash while he worked for the Donald.
“Anyone else notice that the refrigarator opens the wrong way? ”
Are Subzero doors not reversible? Sure, it’s dumb, but it’s also a sub one hour job.
Permabear,
After they climb down to the community terrace, they’ll knock on your windows to see if you have anything to eat in that fridge that opens the wrong way.
Lol if the terrace is essentially non-usable this unit is worth no more than 600k.
Wait for it…..
Epic Fail.
Trump never had class… and I can’t believe people are silly enough to be asking these prices. I would never live in Trump. I got invited to a wedding there and don’t even want to enter that heinous building.
My Viking fridge is not reversible. I don’t know about Sub-Z. As you said small detail as it could be fixed or replaced easily upon a contract but it shows the lack of attention to simple details. I believe that it westloop that pointed out how some kitchen designers put the ovens adjacent to the fridge? That was another great tip pointing out a kitchen that is not designed with common sense.
I think that the Trump Chicago being called classy might be a stretch but if it had been completed in 2006 the place would have sold out quickly and set pricing records for that moment in time. It is a unique building with some pretty good views and a full service hotel/spa/kitchen attached. What’s not to like? Despite not being a “donald fan” if it were free we would all have a place there.
“I believe that it westloop that pointed out how some kitchen designers put the ovens adjacent to the fridge?”
No, that’s my (and a one or two others) hobby horse, tho I think WL agreed.
“the Trump Chicago being called classy”
I think “classy” is a thinly-veiled insult. But maybe I’m alone in that.
From my source at Trump, the current price list:
The Residences
Floors 29 through 89
Studios
580 to 713 sq ft $580,000 – $815,000
One Bedroom
City View 938 to 1314 sq ft $952,000 – $1,501,000
Water View 919 to 1048 sq ft $1,018,000 – $1,193,000
Two Bedroom
City View 1562 to 2022 sq ft $1,417,000-$1,935,000
Water View 1839 to 2076 sq ft $2,241,000-$2,584,000
Two Bedroom & Den
City & Water Views 2742-3437 sq ft $2,188,000-$3,548,000
Three Bedroom
City & Water Views 3080-3102 sq ft $3,261,000-$4,136,000
Penthouses
City & Water Views 2343-6850 sq ft $3,372,000- $9,642,000
Top Floor unit price upon request (I recall $14.675 mil?)
So while this unit does have that incredible outdoor space, the asking is still within the developers asking, if just barely.
Re: the oven next to fridge debate, I am against this practice IF they are the older or lower quality appliances. The new high end units are currently constructed with double or triple the insulating materials allowing placement alongside each other with no negative effects. Still though, it is poor kitchen design to place them alongside each other.
Also, on high end fridges, they are not reversible as they are custom ordered after the placement is determined.
I bought it last year. The terrace is beyond awesome, it’s the first place people go when visiting. Also, if you have a dog it makes life so much easier. The terrace Is even in some friend’s wedding pictures.
congrats on a cool pad, is it true you can’t keep your furniture on the terrace overnight?
They just changed the rules, now you can leave furniture out all year if it is secured. (you just get the furniture approved by the association). It’s great for outdoor parties.
“I bought it last year. The terrace is beyond awesome, it’s the first place people go when visiting.”
Where else can they go? All you have is a living/dining/kitchen combo and bedroom for 1.5 million. I’ll agree the terrace is awesome…but you make it sound like there is that much else to see!
Congrats!
It’s a pretty big 1 bedroom andI like to have parties, but I like the people to leave that night!
The terrace can hold 100 people.
I might buy the condo next door that is 1,800 square feet to connect them and create a 3 bedroom 3,350 sq feet with a 2nd kitchen and living area. And with a 2,000 sq foot terrace on the river with 270 degree views. That would make it more unique in the city.
But can you have stuff out on the terrace without bringing it back inside during the evenings?
Yes, You can now have furniture bolted down outside for the season. It’s great.