Lives Like a Single Family Residence in the Sky: A 3-Bedroom at 545 N. Dearborn in River North
This 3-bedroom duplex penthouse in Grand Plaza at 545 N. Dearborn in River North came on the market in June 2024.
Built in 2003, Grand Plaza has 283 units and attached garage rental parking.
It’s a full amenity building with 24-hour door staff, on-site management, a party room, an exercise room, a basketball court and an outdoor pool and sundeck.
The listing says this unit “lives like a single family residence in the sky.”
At 2465 square feet, the living room, dining room, kitchen and one bedroom are on the main floor with the primary suite and second bedroom on the second floor.
The listing says “no expense was spared” in customization and upgrades.
It has 26-foot ceilings in the great room with two floors of windows, a custom brick fireplace, and a crystal chandelier.
The unit has a “state-of-the-art” kitchen with white cabinets a macauba quartzite island with seating for two, a custom tile backsplash and stainless steel appliances including a 5-burner gas range.
It has an additional wet/dry bar/kitchenette with 2 beverage refrigerators and custom Italian cabinetry.
The primary suite, on the second floor, has a walk-in-closet with Italian cabinetry and an en suite bath with dual sink vanity and walk-in-shower.
There are several private outdoor balconies on each floor.
This unit has the features that buyers look for including central air, washer/dryer in the unit and garage parking is available to rent.
This building is in the heart of east River North, near the Bally’s temporary casino, the Trader Joe’s and it’s just a block from the Eataly. There are restaurants and stores, the Red line subway and many bus lines nearby.
Listed in June 2024 for $1.38 million, it has been reduced $185,000 to $1.195 million.
The unit last sold in 2017 for $1.125 million.
Is this a deal for the size of the unit?
Benjamin Lissner at Baird & Warner has the listing. See the pictures here (sorry, no floor plan).
Unit #W3601: 3 bedrooms, 2 baths, 2465 square feet, duplex penthouse
- Couldn’t find the original sales price
- Sold in March 2017 for $1.125 million
- Originally listed in June 2024 for $1.38 million
- Reduced several times
- Currently listed at $1.195 million
- Assessments of $2555 a month (includes heat, a/c, gas, doorman, cable, clubhouse, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes of $23,447
- Central Air
- Washer/dryer in the unit
- Rental parking available in the building
- Fireplace (gas)
- Bedroom #1: 12×17 (second floor)
- Bedroom #2: 12×14 (main floor)
- Bedroom #3: 16×14 (second floor)
- Living room: 22×18 (main floor)
- Dining room: 13×14 (main floor)
- Kitchen: 8×13 (main floor)
- Balconies (main and second floor)
Can we stop already with “lives like a single family home?”
If you are on the 36th floor, you are not in a single family home or something so similar as to be thinking you are in a single family home. You are paying assessments over $2,500 per month (not very SFH-like). You have shared walls (not SFH). You have shared amenities (not SFH). You have a doorman (not SFH). You are renting a garage space (not SFH).
Only the $23,000 tax bill could make someone think that they are having the SFH experience.
“Can we stop already with “lives like a single family home?””
Whatever this lives like (and agreed, it ain’t a SFH), it “looks like” a duplex down in the sky.
Nice upgrade to the $600 range.
“Couldn’t find the original sales price”
Reasonably certain that the 2017 sale was the first sale from the ‘developer’ (who bought the west tower from the original developer, see: https://yochicago.com/half-of-grand-plaza-going-condo/).
Re: Places living like a SFH, is this based on there being more than one level, and/or on size? There are lots of single-level SFHs. And while this particular unit is about 1,000 sq ft larger than my SFH (and certainly a lot nicer), I don’t think it would “live” quite the same.
I wouldn’t want to live in RN (especially not with kids), but this unit is sort of cool, and the amenities are nice (though not sure if $2,500/mo cool). The taxes are more than 3x mine. It will be interesting to see what sort of tax law changes, if any, we see after the election re: real estate taxes and interest.
It will be interesting to see what sort of tax law changes, if any, we see after the election re: real estate taxes and interest.
anonny
https://news.bloombergtax.com/daily-tax-report/trump-pledges-to-restore-salt-write-off-the-tax-break-he-curbed
It’s promise anything and everything time for the campaigns.
both sides not commenting on what specific programs will be cut on the spending side
that being said some of the non partisan groups do say that trumps pronouncements have likely higher impact on the national deficit
Can we stop already with “lives like a single family home?”
Jon there’s no point. The lazy Sabs persona that has been tasked with writing copy only goes by what’s in the listing. No further research from any other site. No verification of what is in the listing.
if i am going to nit pick with anon, i’d say it looks like a duplex up not a duplex down given the vaulted ceilings that are in some duplex up (I can’t recall a vaulted ceiling / great room setup in a duplex down)
I wouldn’t pay $1 million to live in this building. And too many of the views are blocked. I also think the brick fireplace looks weird in this type of unit.
Nearly 12k a month after $200k. WOOF
Mice place but has features of an old building like the areas with lower ceiling and the janky balcony.
“The lazy Sabs persona that has been tasked with writing copy only goes by what’s in the listing. No further research from any other site. No verification of what is in the listing.”
I have never diverted from the listing. The agent writes it up. If they get something wrong, that’s on them.
It has been like this for 17 years on this site. Deal with it.
“both sides not commenting on what specific programs will be cut on the spending side”
Trump isn’t likely to get ANYTHING through Congress because the House will be controlled by the Democrats. And even if it wasn’t, the Magas are completely dysfunctional and cannot even pass a budget let alone tax cuts or any other real legislation.
It took Paul Ryan to get through the 2017 tax cuts. He is no longer there, obviously, and the current Speaker isn’t up to it.
Harris will have a better shot but she may be blocked in the Senate. So anything she proposes will have to pass the Senate Magas. However, Biden got the Chips Act through with a lot of Republicans so it IS possible.
“that being said some of the non partisan groups do say that trumps pronouncements have likely higher impact on the national deficit”
WSJ says Trump’s “plans” would add anywhere between $7.5 trillion and $15 trillion to the deficit.
Good times.
But they will never see the light of day, even if he wins, so it’s fine.
Dan #2:
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Lazy Sabs persona says
“I have never diverted from the listing. The agent writes it up. If they get something wrong, that’s on them.
It has been like this for 17 years on this site. Deal with it.”
The Lazy Sabs persona is DOING IT WORSE then
https://archive.ph/2024.10.22-102525/https://cribchatter.com/pretty-and-peaceful-2-bedroom-in-east-lakeview-for-374700-3600-n-pine-grove/
“This 2-bedroom in Pine Grove Court at 3600 N. Pine Grove in East Lakeview came on the market in September 2024….
THE KITCHEN HAS BEEN “RECENTLY REMODELED (caps for emphasis from chichow)…
Listed at $374,700, that is $59,700 above the 2022 sales price of $315,000.
IT NOW HAS A REMODELED KITCHEN (caps for emphasis from chichow)
I appreciate having the cribchatter website. So as feedback to whomever is behind it
The person sourcing strictly from the RE listing is getting worse at the copy writing.
consider using some freely available AI models ChatGPT Anthropic Perplexity and so on to assist.
Improved copy writing may also help attract more site views.
cheers
“The person sourcing strictly from the RE listing is getting worse at the copy writing.
consider using some freely available AI models ChatGPT Anthropic Perplexity and so on to assist.”
Hi. My name is Sabrina. I don’t copy it directly so what would be the point of using ChatGPT? I use what I want to use out of the listing for the blog post. ChatGPT cannot do the same. It has no intelligence.
“The Lazy Sabs persona is DOING IT WORSE then”
If the listing says it has been recently remodeled, then I include it. If it doesn’t, then I don’t.
What’s your point? Yes, this property was listed $59,700 above the 2022 sales price. And?
person who wrote:
“so what would be the point of using ChatGPT?”
The LLM Large Language Models can help with editing and proof reading the copy writing.
you have a standard template format where you pick and choose what is in the RE listing.
e.g.
[listing] comes on market [insert date] at [price]
blah blah blah
[latest price history]
[some question about market / listing etc]
person who wrote:
If the listing says it has been recently remodeled, then I include it. If it doesn’t, then I don’t.
Then why write it two times?
What was written
The kitchen has been “recently remodeled.”
and later close to the end of the copy writing
what was written
It now has a remodeled kitchen
there have been improvements to copy writing. Now a cribchatter reader knows whether or not there is a floor plan included in the listing as that tidbit is included in the copy writing
again: Improved copy writing may also help attract more site views and keep this site alive
“again: Improved copy writing may also help attract more site views and keep this site alive”
Who cares if it stays “alive” or not?
I began it 17 years ago when there was so much inventory on the market I did three posts a day. Lol. Good times.
Now, inventory is at record lows and there isn’t much to talk about except million dollar condos not selling.
“Then why write it two times?
What was written
The kitchen has been “recently remodeled.”
Because the remodeled kitchen matters to the price they’re now asking.
and later close to the end of the copy writing
what was written
It now has a remodeled kitchen”
“The LLM Large Language Models can help with editing and proof reading the copy writing.
you have a standard template format where you pick and choose what is in the RE listing.
e.g.
[listing] comes on market [insert date] at [price]
blah blah blah
[latest price history]
[some question about market / listing etc]”
Who cares about writing a blog using ChatGPT? So it has no voice or meaning behind it? Why would anyone want to read that? They can just go on the MLS and poke around, if that floats their boat.
ChatGPT is a waste of time for most applications. It helps if you’re writing something that is rote and doesn’t need any actual thought process. It’s not intelligent and never will be.
I’ve lived in this building for a while. Even I think this is overpriced when you factor in all the costs. I’m not sure who the market for this is, as it’s tough for a family here in my opinion (maybe a rich finance bro’s bachelor pad for afterhours post Tao?)
The 900sqft XX10 units are the move as they have a reasonable HOA (~$750 which includes 1GB internet and everything else except ComED) and plenty of space for 1 or even 2 people. Also on the condo side they have amazing unobstructed views from the large corner balcony.
The ‘core’ amenities are amazing. My friends from the flashier buildings still come over for our pool scene (no buildings block our sun either). The gym has 100lb dumbbells, full squat racks, a decent bball court, steam/sauna combo etc. Most have dogs here too as the dog park is pretty solid. We don’t have golf simulators, arcades, or music rooms like some of the newer buildings do, but I’m fine with a great pool, gym, and party rooms.
I’ve lived in this building for a while. Even I think this is overpriced when you factor in all the costs. I’m not sure who the market for this is, as it’s tough for a family here in my opinion (maybe a rich finance bro’s bachelor pad for afterhours post Tao?)
The 900sqft XX10 units are the move as they have a reasonable HOA (~$750 which includes 1GB internet and everything else except ComED) and plenty of space for 1 or even 2 people. Also on the condo side they have amazing unobstructed views from the large corner balcony.
The ‘core’ amenities are amazing. My friends from the flashier buildings still come over for our pool scene (no buildings block our sun either). The gym has 100lb dumbbells, full squat racks, a decent bball court, steam/sauna combo etc. Most have dogs here too as the dog park is pretty solid. We don’t have golf simulators, arcades, or music rooms like some of the newer buildings do, but I’m fine with a great pool, gym, and party rooms.