Live in a 3-Story Townhouse on the Chicago River: 333 N. Canal on the Near West Side
This 3-bedroom townhouse at 333 N. Canal on the Near West Side (River West?) has the luxury of having its own separate space but also the amenities of a larger building.
It is built at the base of the River Bend high rise and fronts the Chicago River.
The listing says it has access to a boat slip.
The townhouse also has an elevator and 2 terraces.
Two bedrooms are on the third floor with the third bedroom on the main floor.
The kitchen/family room are on the second floor.
Listed in March 2011 for $1.699 million, it has been reduced $100,000 in that time.
Is this a good alternative for those who want to live in this neighborhood but don’t want single level condo high rise living?
Jorie Peirce at ERA Team Feinstein has the listing. See the pictures here.
Unit #104: 3 bedrooms, 4.5 baths, 5400 square feet
- Originally listed in November 2007 from the developer for $1.5 million
- Sold in February 2009 for $1 million
- Originally listed in March 2011 for $1.699 million
- Reduced
- Currently listed at $1.599 million
- Assessments of $2680 a month (includes a/c, gas, doorman, exercise room)
- Taxes of $13,311
- Central Air
- Two terraces
- In-unit Elevator
- 2-car parking (valet in the building)
- Bedroom #1: 18×29 (third level)
- Bedroom #2: 12×11 (third level)
- Bedroom #3: 17×14 (main level)
- Family room and kitchen (second level)
Sabrina, are you posting these as jokes? Nobody in their right mind would EVER pay 1.5 million for a place that has 4000/month (and increasing) fees….IN THIS LOCATION. That is just crazy. IF anyone buys something like this, they are ignorant of the realities out there – but there is no law against stupidity.
Someone found vlue at $1,000,000 in 2009. I’d say it is a stretch to suggest that the value has risen that much on just decorating and time. Did they buy it raw?
While I do like that view it makes me wonder if the Kennedy’s will ever develop Wolf point. That would improve the view slightly for this property however it would be a dusty and noisy few years of construction first.
I’d rather get a SFH at this price point or a high floor unit, but I guess someone is buying these.
neat place. were shelter still open I’d be tempted
“While I do like that view it makes me wonder if the Kennedy’s will ever develop Wolf point. That would improve the view slightly for this property however it would be a dusty and noisy few years of construction first.”
We looked at a condo in this building. A large building on Wolf point would decimate the views of the higher floor units…their views are among the best in the city, though not protected. There was a zoning change and a proposed building (a hotel I think) before the recession. So, yes, at some point they will build and it might be fine for this unit since it doesn’t have a view all the way to the lake. It would really hinder the views of the higher units, however.
Sometimes the river smells really bad. Really bad. That is just too close to the river when it’s having a “bad” day.
betty, there was a long thread fighting about river smells about 2 yrs ago. not sure who won but I remember HD was on the it stinks side.
I know this unit is on the other side of the building but there must be some noise from all the passing Metra trains.
I was called a moron for even suggesting the river smells at this stretch.
1- you’re right above a railroad and a railroad crossing DING DING DING DING all day long
2- if they ever develop Wolf’s Point, it will be a high rise office. you’re on a low floor, good bye 1/2 of view. and traffic from that building will turn canal st into a parking lot.
3- no shopping or restaurants within a block in any direction, but plenty of rental high rises. a tire store.
4- valet parking only
market rent for this place is 5,000-5,500… for one year. renter will get sick of place quickly. new buyer will take their own life in 18 months.
I lived in the building prior to 2008 (loved it) and toured one of the THs (not this one I don’t think). I remember thinking, for this price I’d have to completely redecorate! Fugly lighting.
Well, I was walking by the river a bit north a while back and I almost upchucked. There is no way river stench knows not to go near a building.
“I was called a moron for even suggesting the river smells at this stretch.”
funny! and this was before clio started posting
“near west side”?
jp3chicago – things are very different now – in the past, people accepted high costs of housing because appreciation (even at 1-3%) was significant and you could rationalize 4000k/month, (because the gain in appreciation would be 15000-45000 per year)
The river does smell, and on Canal st. right behind this building and a little south there’s a huge circular metal grate on the street about 10′ in diameter, that spews an awful stench sometimes. I wonder what thats all about! oh here’s a picture http://maps.google.com/maps?q=293+n.+canal+st.+chicago,+il&hl=en&ll=41.886919,-87.639871&spn=0,0.011137&sll=41.886753,-87.639848&sspn=0.006295,0.006295&layer=c&cbp=13,183.48,,0,8.31&cbll=41.886831,-87.639866&t=h&z=17&panoid=YIS2z_TjSP9UJ2bQhYma7Q
unique place, and the assessments are probably so high because of the boat slip thing… At belmont harbor its a hundred+ bucks a month per foot of boat, so if you have a 40 foot boat, that’s like 4k a month! (granted you aren’t using it year round but still)
sonies, that is where the c.h.u.d. live
I will further support the fact that the river smells disgusting here. At Kinzie there is a staircase you can walk down that brings you near the river level, probably comparable to the level of this unit, and I could barely breathe when I walked down there.
LMAO CH! (I had to look that up)
Awesome, unique, great place!
a place for childless couple
no western exposure natural light source
The noise here is a huge drawback. The train bells are ringing all day. And although it’s geographically close to everything, it’s not a pleasant walk to anywhere from this location. I haven’t been around here enough to know if river smell is an issue, but even if it isn’t, the noise would be enough to keep me away.
I wouldn’t hold my breath to see Wolf Point developed. It’s been empty since around the Chicago Fire. Using this site as a parking lot seems like an incredible lack of imagination. It would make a wonderful spot for a park.
Another drawback to living here would be having to look at the Apparel Center (Sun Times building) constantly. It’s hard to think of a bigger eyesore in the downtown area.
I do think Wolfe Point will be developed within the next 10 years. There was a plan in 2007 that got sidelined in the recession, but once the economy improves, I think it will be ripe for development.
http://www.chicagorealestatedaily.com/article/20070730/CRED03/200025853/kennedys-developer-plan-big-wolf-point-project
Also, I think being next to the River is a good long term investment. Though it smells some days now, the EPA is forcing Chicago to clean up the river, which should improve things. The question is how long this will take.
http://abclocal.go.com/wls/story?section=news/local&id=8126788
Wolf Point is also where that CPS guy supposedly topped himself too right? Was reading about it in this month’s Chicago magazine.
If I were to live in this location (and I never would want to, though the view is pretty dramatic), I’d opt to live on a high floor of the high rise adjoining these townhouses. The noise would be much less of an issue, and the view would be better.
This townhouse does look nice inside, but there are too many other issues to recommend it.
“new buyer will take their own life in 18 months”
Depressing comment of the day goes to Coogan99 followed closely by Jennifer pointing out the CPS suicide that we were all thinking about. Wonder why the cops never interviewed this owner to see if they heard or saw anything.
” things are very different now – in the past, people accepted high costs of housing because appreciation (even at 1-3%) was significant”
I do agree however this seller actually purchased the home in 2009. At that time the world had already changed. Perhaps Coogan99 is right. 30 months later….
Didn’t one of the Bears players stop paying his mortgage at this building a few years ago. Think that made the news long before foreclosure was so common. Now days it seems that everyone does it.
Also I recall an issue about the elevator/valet parking thing being really slow, That could be a true pain in the ass every morning.
The inexperience of this developer shows; BJ Spathies went belly-up and fled town prior to 2008 collapse of residential real estate market, leaving a big mess. Building never sold well. A turn-around specialist bought Riverbend from the lender and finished sales (or is that finishing sales?). Building was an odd mix of high-end market and poorly finished raw concrete finishes (walls, floor, ceiling). Tower has a single-loaded corridor, with all units facing east, with fewer units to distribute annual condo operating budget allocation – so higher assessments for all. Garage is valet-only compounded with garage elevators (no ramps), so retrieving your car requires foresight and planning, or a long wait during peak hours. Townhouses face east, and literally back on to the railroad tracks which run through the base of the building. Only a few feet separate the townhouse living space from the live track area – ugh. I’d worry about a train derailment or other train-related disaster.
“Sold in February 2009 for $1 million
Originally listed in March 2011 for $1.699 million”
So, seriously, to follow up on jp3chicago’s earlier post, what is the justification for a 70% (or even 60%) price increase in a falling market that clearly is affecting the area in question? Was the space in Feb. 2009 raw as jp3chicago suggested? Did it have serious damage that needed to be repaired? What?
Units were sold raw, as I recall. Even for a $1m initial sale, those RE taxes look very low.
I’ve only been to this building once, for a dinner party in a fairly low-floor unit. At least at night, I thought the view was fantastic. But I can’t see much appeal in living the TH/SFH life in the SL or RN (or RW).
It’s 5f’inthusand+ sqft. At that sqft’age it’s really irrelevant whether it’s attached or detached. The layout seems nice. Need to see it on site to determine the feel of it-as far as the usual lame objections go. But interesting home-minus the professinal designer of course, whoever he/she is. But the layout seems gracious. I’d say somwhere between $1.2-$1.4.
“Didn’t one of the Bears players stop paying his mortgage at this building a few years ago. ”
RW McQuarters, iirc
This is a home that needs to be seen on site. I’ve been in a lot of well built homes near tracks, or backing up to tracks, and noise is not an issue when it’s well built and insulated properly. The home actually has a very “Chicago” perspective to it. I like it. I think price tag is clearly an over-reach based on the comps.
Why would anyone think the river doesn’t stink here at times? When there’s too much rain, the MWRDGC dumps raw sewage into the river. Deep Tunnel is supposed to keep that from happening, but that isn’t really working just yet. When the treatment plant at Howard/McCormick dumps, it’s going right past this place.
But I can’t see much appeal in living the TH/SFH life in the SL or RN (or RW).
But you do, if it’s a condo? Not sure I understand. If you say you don’t like thse nhods, then I’d understand, but that’s a different issue.
Urban real estate shows a prior listing asking $1,999,999.
As to the rail line “through” the building–be serious. The three tracks are far far too close, but they distinctly do NOT run through 333 N Canal.
um architect, I believe this place was constructed in 2001 was it not? why would the developer flee 7 years later?
Lehman (‘member them?) was the mezz lender and took over the project in August 2003.
She was living in San Diego through most (all?) of the construction of the various developments that went under, so I’m a bit unclear on how she skipped town. Her personal bk filing was done in Cali, too.
ok maybe the tracks aren’t *directly* through the building. But recent media has shown that trains into Chicago have Nuclear bombs on them. Way too irresponsible to have children living here. Might as well just send them to New Trier where all children get solicited by pedophiles on IM.
Jp3 & Ch:
Iirc David Terrell the Bears wide receiver bust (redundant?) from U of Michigan was foreclosed but at Randolph Place, a large loft complex
I correct me – a R W McQuarters has been named in foreclosures between ’04 and ’09 which all cite the subject development
Tracks run through the building at the base; there’s a west bearing wall for tower and east wall of train tunnel/passageway is back wall of the townhouses. I’ve walked the tracks w/Amtrak personnel and I’ve been in Riverbend. This section of track is a high priority for Homeland Security folks, for obvious reasons – track runs in an open tunnel beneath several high-rises before reaching station and previously was not secure.
Sales at Riverbend were extremely slow, even during peak real estate market. BJ Spathies fled during that after-construction period, not when building was constructed. She also abandoned another project in Central Station area. There were also financial irregularities. Much of this was well-covered by local papers.
“Tracks run through the building at the base; there’s a west bearing wall for tower and east wall of train tunnel/passageway is back wall of the townhouses. I’ve walked the tracks w/Amtrak personnel and I’ve been in Riverbend. This section of track is a high priority for Homeland Security folks, for obvious reasons – track runs in an open tunnel beneath several high-rises before reaching station and previously was not secure.”
Must be an invisible wall. Look at streetview. Look at an aerial. There are three tracks that run just west of the building, without passing behind a wall.
I have nothing to say about what may have been in the past (you can see the passage way that could have been for a single track in the past) but as of *right now* there are NO
tracks running “through” 333 N Canal. And there is no space for trackS, ever.
I drive past here from work everyday.. There are some tracks in the base of the building, but I think they are only for emergency use. The Metra tracks, which are used daily, are to the west of the building. I’ve never seen a train under this building…I’m fairly certain they are for emergency situations, etc….
As for the followint comment: ok maybe the tracks aren’t *directly* through the building. But recent media has shown that trains into Chicago have Nuclear bombs on them. Way too irresponsible to have children living here.” This is stupid. You’d be better off here if a nuclear bomb went off…you’d be gone before you knew what hit you while the rest of us dye slow painful deaths from the radiation fallout….Seriously, if this scenario bothers you….move to Montana. No one is that safe in a major city.
funny post local. you think the people living at 355n canal would be safe? apparently it used to be a giant meat cooler and has really thick walls.
“As for the followint comment”
Whiff of the week. You thought Ze was serious? Seriously?
“There are some tracks in the base of the building”
So, they RE-installed them after the latest streetview pic? Which is consistent with what it looked like the last time I was in the area (some time last year). Guess its possible; I’ll have to go over and walk the property.
I live across the street. Tracks don’t go through the building, that’s a covered loading dock for moving trucks. Looks like a train through-way, in local’s defense. Who cares, the train is so close it may as well go through your living room.
I walk past this building walking my dog twice a day. In addition to the crossing bells, there’s a really annoying buzzer for the ‘parking elevator’. $2680 utilities? Do you get royal wipers?
funny as I drove by the place this morning and watched a train pass really close to the south walls of the high rise.
RW McQuarters is correct. Said he had a misunderstanding with Chase bank as I recall. Must have forgotten the stamp or something.
I just walked by this building and decided to walk in front where the townhouse is. OMG it smelled like a dead body and the river was filled with sludge. A city boat was there cleaning the sludge but it was two guys in a small boat–that was going to take all day.
“A city boat was there cleaning the sludge but it was two guys in a small boat–that was going to take all day.”
There were prolly two other guys on the boat, taking a nap.
It’s a city job, it is designed to take all day.
I tried to look at this place from the train a couple of times this week – is the riverwalk out front open to public access? That would be a security concern too for this place right?
“is the riverwalk out front open to public access?”
Afaik, all of the newer riverfront properties are required by the city to allow public access across their riverfront plaza areas.
Yes you can walk right through the riverwalk but at the end, you can either double back, or you can duck through that parking tunnel (that everyone thought the train could go through but it can’t). Anyway, there is so much public access everywhere, I guess everwhere is a security concern–one can walk in Sears Tower easily enough and most other buildings, hotels, etc. ANON: LOL but this was so much smelly gross sludge, it would seriously take all day even if it was a “pay more if you do fast” job! If I were selling this condo and the city didn’t clean the river, you would HAVE to clean it yourself. Hire a boat or a raft or whatever because it wouldn’t sell how the river looked this morning!
yesterday I bicycled over that chud hole sonies pointed out and took a whiff. super stanky