Loop 3-Bedroom with 180 Degree Views of the Lakefront and City: 130 N. Garland
This 3-bedroom in The Heritage at Millennium Park at 130 N. Garland in the Loop came on the market in February 2023.
Built in 2005, The Heritage has 356 units and attached garage parking. It’s a full amenity building with 24/7 door staff, an exercise room and one of the best indoor pools in the city.
There is also a shared rooftop terrace on the 26th floor.
The listing says this unit was “beautifully remodeled in 2022.” It has new wide plank custom stained wood floors throughout and panoramic 180 degree views of the lakefront park and city.
It has new electronic shades, designer Lightology lighting, and surround sound throughout.
The unit has a custom stone expanded gas fireplace with new built-ins in the living/dining room.
The kitchen has been “updated” with white cabinets, a double fitted pantry, a commercial grade refrigerator plus breakfast area.
The primary suite has a remodeled bath with bespoke full wall stone tiles, quartz vanity soaking tube with stone deck plus large multi-spray Euro shower and new gold tone hardware, along with a fitted walk-in-closet.
The second bathroom has also been remodeled with designer stone and tile with gold tone hardware.
The powder room has also been remodeled.
The unit has the features buyers look for including central air, washer/dryer in the unit along with a storage area, and one garage parking space is included in the price and taxes.
All of the closets in the unit are fitted.
This unit has a covered balcony.
The Heritage was the catalyst that made living near Millennium Park cool. It’s near the Art Institute, the shops on south Michigan Avenue and State Street as well as the restaurants of Lakeshore East. It’s at the epicenter of public transportation with multiple bus and subway lines.
Listed in February 2023 for $1.35 million, it has reduced to $1.295 million.
But it sold in 2005 as new construction for $1.25 million.
Is this a deal for a fully remodeled 3-bedroom?
Patricia Young at @properties Christie’s has the listing. See the pictures here. You can also see the prior 2022 listing pictures on Redfin.
Unit #5304: 3 bedrooms, 2.5 baths, 2096 square feet
- Sold in December 2005 for $1.04 million
- Sold in December 2005 for $1.25 million
- Sold in March 2022 for $1.125 million
- Originally listed in February 2023 for $1.35 million
- Reduced
- Currently listed at $1.295 million
- Assessments of $1552 a month (includes a/c, gas, parking, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, internet)
- Taxes of $24,432
- Gas fireplace
- Bedroom #1: 17×12
- Bedroom #2: 16×13
- Bedroom $3: 15×12
- Living/dining room combo: 24×15
- Kitchen: 14×19
- Walk-in-closet
- Balcony
Nice enough unit but nearly $11k per month after $260k down. Pass.
5104, which appears to be all original, is contingent, listed at $1.1m:
https://www.redfin.com/IL/Chicago/130-N-Garland-Ct-60602/unit-5104/home/12612178
I think this one is clearly ‘nicer’ (the closet in 5104 is embarrassing after over 15 years), but is it $200k+ nicer?
If I were picking between the two, I’d spend the extra, even if it isn’t exactly what I would do in every detail (eg, don’t love the backsplash choice).
As a view lover and someone who likes being near all the cultural attractions, this one presses my particular buttons. Seems like a good deal, and I love that it has outdoor space. Wish I could afford!
5104 looks good, too, though the view is less park and lake-oriented, it seems. Might be one reason it’s cheaper.
“the view is less park and lake-oriented”
The pix for 5104 are kind of crappy, but it has *exactly* the same views, just ~20′ lower.
It’s why I picked it for a comparison–they are both high floor 04 units.
We can also comp to 4604, contingent at $1.15m:
https://www.redfin.com/IL/Chicago/130-N-Garland-Ct-60602/unit-4604/home/12624967
but that extra 5 floors meeans that the view doesn’t quite clear the Pittsfield Building (all are blocked somewhat by Legacy, as it is ~200′ taller than Heritage).
Thanks, Anon. I think the poor pictures fooled me.
“I think this one is clearly ‘nicer’ (the closet in 5104 is embarrassing after over 15 years), but is it $200k+ nicer?”
What’s your time worth to you? Do you want to wait to move in so you can do a big renovation (kitchen, baths, flooring, painting)? Could take up to 6 months to get it done.
Now, some would say “yes” and just buy the cheaper unit and do the renovation to their specifications. But the vast majority of buyers, even rich buyers, do NOT want to do this. They want to just move in.
“Nice enough unit but nearly $11k per month after $260k down. Pass.”
Welcome to the world of million dollar properties. What makes you think they would only be putting down $260k?
It’s good to see the other 04 units are under contract. I’ve been wondering how the Loop was holding up especially those buildings near Millennium Park.
I consider those to be deals but it’s mostly because they have their original 2005 finishes. 5104 sold in 2005 for $1.092 million. Can you imagine selling 18 years later for basically the same price? Ugh. Very demoralizing. But hopefully they enjoyed living there.
There’s no mortgage on 5104.
“As a view lover and someone who likes being near all the cultural attractions, this one presses my particular buttons.”
The Heritage was very popular in 2005 for the east side units. It’s not right on Michigan Avenue so you get less noise and pollution but the Cultural Center is a protected building so your views won’t be blocked.
The building has beautiful amenities. The pool is fantastic, and I don’t even like indoor pools. The 26th floor patio is also amazing during the summer.
I bought two units in this property before construction. A one bedroom on 12 and a two bedroom on 15 (at the north end of the building). I immediately flipped the 2 bedroom and made $250,000. I still own the 1 bedroom and continue to rent it out… those were the days…
“I immediately flipped the 2 bedroom and made $250,000. I still own the 1 bedroom and continue to rent it out… those were the days…”
Yep, those were the days. Tons of flipping with big gains until the music stopped by about 2007. And then it completely ended in 2008-2009. Glad you weren’t left holding the bag.
How’s the building holding up all these years later Jack? It’s probably getting close to the time where they have to replace hallway carpets and some other things. Or have they already done that at least one time?
“How’s the building holding up all these years later Jack? It’s probably getting close to the time where they have to replace hallway carpets and some other things. Or have they already done that at least one time?”
Association spent some $1.3MM to redesign the common areas in 2018ish. While the old design was definitely out dated, I can’t say they choose a good designer to redo it. The common area carpet is ugly. The gym picture is several years old and does not show the new equipment.
“Association spent some $1.3MM to redesign the common areas in 2018ish. While the old design was definitely out dated, I can’t say they choose a good designer to redo it. The common area carpet is ugly. The gym picture is several years old and does not show the new equipment.”
Thanks for the update Lauren. That’s a lot of money to redesign the common areas. Must have needed it. Did they have a vote on the new carpet? Most buildings do. Not a guarantee that something “nice” will be chosen.
It’s a big building. Lots of 1-bedrooms, like Jack’s, that were rented. Probably lots of wear and tear with the renters moving in and out over the course of nearly 20 years.
IMHO, I think the Association at The Heritage has always been incredibly well run… Not only were the interiors redone, (I don’t have a problem with the carpet 🙂 ) but currently the building is going through a major exterior repair/repainting… all of this with never having a special assessment…
” Did they have a vote on the new carpet? Most buildings do. Not a guarantee that something “nice” will be chosen.”
No vote, no owner input. Supposedly the interior designer placed an “idea board” in the lobby, but I don’t recall ever seeing it nor did anyone else. You would think with such a budget they could provide a 3D virtual tour of new design. Nope. The board meeting during the interior work was most attended meeting I have ever been to and the board member responsible for choosing the interior designer (or at least their best defender) lost her next election. To make it appear sounding less like complaining about the ugly carpet, several owners tried to complain that they flooring was not mobility-aid friendly. It was such an entertaining meeting.
2021-current has seen $10+ million in exterior maintenance. Balconies were relined, painted, and had railing glass replaced, facade cracks filled.
It’s a great building. Just wish I would see greater value appreciation.
Having been on Boards of Associations for most of my adult life (OMG, like the last 30 years), a recipe for disaster is to put Board decisions up for a popular vote… Associations are not democracies… if you want a vote, then run for the Board…
and, appreciate your input Lauren, have you owned since pre-construction? regardless, $10+ million for maintenance without a special is an impressive feat is it not?
sorry, I am on a roll…
Sabrina, what makes you think that this building has an unusual amount of 1 bedrooms or renters?
Lauren, if you are concerned about resale value, maybe you shouldn’t be bitching about the building on blogs?
jack,
I bought in 2010. Paid under $400k so even with price fluctuations of the past few years, I will still make money nominally. I think that was about $100k less than the original owner paid pre-construction, but she did not care as she was dead by the time I bought. Just wish my unit would go up in value in comparison to other properties in the city. It is certainly better than if I purchased in South Loop as I originally planned.
I have no complaints about maintenance. Years ago a board member said they were following the plan of Harbor Point Condos–45 years without a special.
Which side was the unit you made $250k on?
it was the 01 tier on the north end with 180 degree views…
The pre-construction buyer of the featured unit made $210k, and is half likely to call it a quarter million.
Not that jack is rounding up, but many people do.
I was using today’s dollars, anon 😉
Makes sense on theCC, jack.
“Just wish my unit would go up in value in comparison to other properties in the city. It is certainly better than if I purchased in South Loop as I originally planned.”
Many downtown high rises aren’t seeing any appreciation at all. It’s tough out there depending on the location. High rises really went out of favor during the pandemic and then also with the riots/protests. It was a double whammy.
“Sabrina, what makes you think that this building has an unusual amount of 1 bedrooms or renters?”
It has a lot of 1-bedrooms on the west side of the building. Nothing wrong with that but they don’t build them with that many 1-bedrooms anymore.
I’ve had several friends rent in the building so I know there are plenty of investor/owners left over from 2005 bubble era. Also, they used to do short term rentals in the building many years ago as I once saw someone “checking in” at the front desk with their suitcases. Ugh. I’m sure that has been forbidden by now though.
“2021-current has seen $10+ million in exterior maintenance.”
The Heritage had over $10 million in reserves? Wow. You don’t hear that very often. Last building I heard had such a cash hoard was the WaterTower Residences and they just lowered their assessments because they didn’t need to keep adding to it even with possible facade work in the future.
Are units facing the west side of the building noisy? How high up do you have to go to avoid street noise?
TIA
This one has been taken off the market.
4604, contingent at $1.15m, closed at $1.1m
5104, contingent at $1.1m, closed at $1.05m