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)
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.