Looking For Something Unique? This Duplex Penthouse Has Style: 201 E. Chestnut In Streeterville
This 2-bedroom penthouse in the highrise at 201 E. Chestnut in Streeterville recently came on the market. (Sorry- for some reason I don’t have a picture of this building- so no pictures.)
But it’s not any ordinary penthouse.
It has soaring cathedral ceilings in the living room with an 18 foot wall of south facing windows.
The second floor has a lofted master bedroom as well as the second bedroom.
The kitchen has dark wood cabinets and stainless steel appliances.
The unit has central air, washer/dryer in the unit and parking is available to rent for $141 a month.
It also has an 8×10 paved south facing balcony.
Is this priced right for the location?
Lanae Silvestri at Prudential Rubloff has the listing. See the pictures here.
Unit #24D: 2 bedrooms, 2 baths, duplex, 1500 square feet
- Sold in June 2000 for $350,000
- Currently listed at $479,000
- Assessments of $1327 a month (includes doorman, cable, pool)
- Taxes of $8944
- Central Air
- Washer/Dryer in the unit
- Parking is $141 a month
- Bedroom #1: 15×17
- Bedroom #2: 11×13
This is a 1br + office/den… open bedrooms overlooking living rooms don’t count
The lower 2/2 units in the building offer ~+100 sq ft and a much bigger patio. 8×10 vs 8×27 The penthouse duplex / cathedral windows are unique but this feature is negated by the smaller terrace / non enclosed master br and smaller overall space. (marginally better view than the unit 4 floors lower and $500 a month more expensive HOA fees)
http://www.redfin.com/IL/Chicago/201-E-Chestnut-St-60611/unit-20B/home/14117107 (current one on market)
http://www.redfin.com/IL/Chicago/201-E-Chestnut-St-60611/unit-7A/home/14117717 (sold for 365k, but on floor 7
I think this place is worth 440 tops.
always liked that this building has a hint of chinatown from the outside
http://www.emporis.com/images/show/521095-Large.jpg
Like it and like the building
Yeah, how is calling a completely open to everything den a bedroom not fraud? Why are there no standards to define what qualifies as a bedroom? Open to a living area like this one? NOT a bedroom. A loft in a townhouse accessed only though a bedroom? NOT a bedroom.
This building/location is the best kept secret in chicago. It is centrally located in the midst of all of the great things that chicago has to offer (lakefront, world class shopping/dining, museums and public transportation). The best thing is that, being one block from Michigan avenue (and on the EAST side) it is surprisingly quiet and safe. There is also a great restaurant/lounge opening next door at 215 e chestnut next month – the owner wants to keep it a neighborhood type of upscale lounge/restaurant catering to the residents of the neighborhood – which will only further enhance the desirability and livability of the neighborhood.
I agree this unit has been grossly misrepresented by the real estate agent. This is not a two bedroom. They are not doing their sellers any favors.
I always thought bedroom = room with a window and closet. Has the definition changed?
“Yeah, how is calling a completely open to everything den a bedroom not fraud? Why are there no standards to define what qualifies as a bedroom?”
You are wrong about that statement. There are very clear standards to define a bedroom. As Steven suggested any room over a specific size (think it is around100 sq.) with a direct (or indirect such as a half wall) source of ventilation and a closet can be counted as a bedroom. This is why some loft spaces are actually considered a bedroom by city of Chicago code.
LJ I disagree. They are doing their sellers a great favor by listing it as a 2 bedroom. This way they are getting more potential buyers that are demand a “second bedroom” to see the place in their search. The realtors job is to cast as wide a net of potential buyers as possible. If the property were listed as a one bedroom as you suggested then they limit that pool.
There are many people that will agree that it is really a one bedroom + den and pass this listing over quickly. You and I are in agreement on that subject however there are some that might actually approve of this and put a desk/murphy bed arrangement up in the space. Perhaps they only typically use that “second bedroom” for one week per year when the kid visits and do not see it as a huge inconvenience.
They may make that tradeoff for the windows, natural light, good view, location, or ceiling height. There is no telling what emotional trigger hits an individual and prompts them to make an offer. It would actually be a mistake not to list it as the second bedroom.
“any room over a specific size (think it is around100 sq.) with a direct (or indirect such as a half wall) source of ventilation and a closet can be counted as a bedroom.”
Needs to have a door, too, no?
Thats great except there is no closet in the lofted space that I can see
So this is basically a $500,000 1 bedroom plus den, with insane assessments to boot. No thank you.
“Needs to have a door, too, no?”
My master bedroom does not have a door. It is a loft space and I decided not to add one when I built it out. That was back when I was a single man. Now that I have a kid and wife there are times I think that it might have been an oversight. Still like the open vibe. I suspect that is why I like this place so much.
It is best used by a single with occasional friends staying over or as the empty nester couple that want a completely different feel from the standard boring home they lived in for 25 years.
“My master bedroom does not have a door.”
And we see master bedrooms that don’t have closets, and those that don’t have windows. to “technically” be called a bedroom, it has to have the light, closet and door, no?
“My master bedroom does not have a door. It is a loft space and I decided not to add one when I built it out. That was back when I was a single man. Now that I have a kid and wife there are times I think that it might have been an oversight”
Understatement of the year. I walked in on my parents one too many times and they had a door with a lock. Now I feel gross again.
In any real estate transaction your most important commodity is trust, because there are too many unknowns that are cost prohibative to uncover for yourself. Only the seller is in the position to have the greatest amount of information about the property they are selling. If they are willing to so blatently distort the facts about something so obvious, how can you trust them about anything that can not be readily visually verified.
There are too many other properties to look at to spend time pursuing a deal, where you know the sellers are not being honest.
Lastly, you’re not doing any favors driving increased traffic to a space for reasons that turn out to be untrue. If the misrepresented fact is material to the buying decision, then you have wasted the buyers’ time and the sellers’ time. Just describe it accurately, and get the right buyers’ into the unit. Listings are intended to allow people to filter based upon the criteria they believe to be important to them. Please do not subvert that process.