Is Chicago a Deal? A Renovated Vintage 2-Bedroom at 1320 N. State Parkway in the Gold Coast
This 2-bedroom at 1320 N. State Parkway in the Gold Coast came on the market in March 2017.
The building was designed by Robert S. De Goyler in 1927.
It has 40 units and a brick and limestone façade. There’s no parking with the building.
It is a co-op building with a doorman, bike storage, an exercise room and individual mail delivery to each apartment.
The listing for this unit says it has been renovated.
The kitchen has limestone checkerboard floors, Farrow & Ball painted cabinets, London subway tile throughout and a large kitchen island.
There’s decorative plaster molding and an imported Francois & Co French limestone fireplace mantle in the living room.
The master suite has a walk-in closet and an attached marble bath.
The third bedroom in this apartment has been converted to a family room with built-ins.
The unit has space pak cooling, washer/dryer in the unit but no parking. It’s available for lease in the neighborhood.
If you love the furniture, it’s available furnished.
Because it’s a co-op, the HOAs include the taxes.
This unit has been reduced $200,000 since March to $1.599 million.
Compared to other major cities, is Chicago’s luxury real estate a deal?
Nancy Tassone at Jameson Sotheby’s has the listing. See the pictures here.
Unit #11A: 2 bedrooms, 3 baths, 2700 square feet
- Sold in November 2012 for $550,000 (per Redfin)
- Originally listed in March 2017 for $1.799 million
- Reduced
- Currently listed for $1.599 million
- Assessments of $4497 a month (includes heat, taxes, doorman, exercise, exterior maintenance, lawn care, scavenger and snow removal)
- Taxes of $16,917
- Space pak cooling
- Washer/dryer in the unit
- Wood burning fireplace
- Bedroom #1: 14×18
- Bedroom #2: 12×21
- Laundry room: 7×12
- Den: 11×19
For $1.9 you get 900sqft in the UES. Similar vintage building.
https://www.corcoran.com/nyc/Listings/Display/5145915
3 bed / 3.5 bath in the UWS. Similar square footage for $5.5 million.
https://www.corcoran.com/nyc/Listings/Display/3855503
vs in Atlanta for $1.7m similar sqft. Much better views though. Although, you can buy a very nice house in same areas, so I don’t get spending that much for a condo, but apparently people do as there are a ton of $1.5+ condo listings.
http://www.realtor.com/realestateandhomes-detail/867-Peachtree-St-NE-Unit-802_Atlanta_GA_30308_M55188-50572?ex=GA629331846#photo36
“For $1.9 you get 900sqft in the UES. Similar vintage building.”
The coop in New York is all cash (and you get the pleasure of meeting with an UES coop board). Probably not the case for this one.
I’ve been in a unit in this building before, they are very nice but strangely laid out, they are duplexes but kind of in a plus shape on top of each other
and please stop comparing the old coast to the UES
just stop comparing Chicago to NY period, they are two totally different cities for two totally different types of people
So this Seller bought in 2012, made some cosmetic changes, painted, changed out cabinents, lights, and re-did the floors, then tacked on a $1MM markup.
Asides from that the ceilings are too low for a $1.5MM condo. My guess is that it will close somewhere around the $900k mark.
Ugh. This place has the same ugly kitchen and bathrooms as every other house. Why doesn’t anyone want anything unique at this price point?
I also wish the realtor would include the before pictures, so that a buyer can see whether the upgrades are worth the $1M increase in 5 years.
Also unit 10A sold for $460,000 on July 21. It needs a new kitchen and bathrooms, but I sure as hell could re-do them for a lot less than $1M and to my liking.
It annoys me that the sellers in 11A are so greedy. I wouldn’t buy this place just on principle that I wouldn’t want to feed the greed.
For anyone who cooks, the kitchen triangle here is brutal.