Million Dollar Views Without the Million Dollar Price Tag: 1 E Scott in the Gold Coast
This 2-bedroom penthouse at 1 E. Scott in the Gold Coast just came on the market.
The corner unit faces south with views of most of the city skyline, including the John Hancock.
Built in 1969, the building has 240 units, a doorman, a rooftop pool with city and lake views and an attached parking garage with rental parking.
The unit has floor to ceiling windows, hardwood floors throughout, central air and in-unit washer/dryer.
There’s a master suite with a walk-in closet.
The second bedroom has a custom built-in office and desk.
The kitchen has maple cabinets, black appliances and granite counter tops as well as a large kitchen island that seats 3.
At just $389,900, is this a good entry level apartment to live the Gold Coast life style?
Kaylin Goldstein at @Properties has the listing. See the pictures here.
Unit #2304-05: 2 bedrooms, 2 baths, no square footage listed
- Sold in April 1993 for $70,000
- Sold in March 2004 for $360,000
- Sold in March 2009 for $374,500
- Currently listed at $389,900
- Parking is leased at $400 a month in the building
- Assessments of $1041 a month (includes heat, a/c, water, gas, cable, doorman, exterior maintenance, scavenger, snow removal, roof top pool)
- Taxes of $5308
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 18×24
- Bedroom #2: 11×15
Low price is deceiving due to the high carrying costs. If you bought a place for $650k with parking and more reasonable assessments ($600-700) you would probably be better off.
I looked in this building several years ago. There are so many young renters that it felt a bit like a post-college dorm. While the assessments don’t shock me, $400 a month for parking does.
There are some very nice views in this building but when I was looking 2 or 3 years ago, the rental percentage was almost 45%. Never a good sign.
Lived in this building for 7 years late 90s/early 2000s. Lots of renters back then too (me being one of them), walls are paper thin, and building controls heat/air switchover. Those warm fall/spring days when air was off and heat was on were brutal!