Mysterious Re-Appearance of Unit #502 in The Belvedere
In December 2007, I chattered about the one bedroom units for sale in The Belvedere, at 270 E. Pearson, in the Gold Coast. They are among the most expensive one bedroom units for sale in the city (outside of new construction buildings such as Trump and The Spire.)
Unit #502, an 1100 square foot one bedroom with custom cabinetry, sold in November 2007 after months on the market.
Unit #502: 1 bedroom, 1.5 baths, 1100 square feet
- Sold in April 2005 for $616,375
- Sold in November 2007 for $775,000 (parking included)
- Assessment of $604 a month
Unit #302, also a 1100 square foot one bedroom with 1.5 baths, was still on the market in December 2007.
Four months later, #302 is STILL for sale.
Unit #302: 1 bedroom, 1.5 bath, 1100 square feet
- Sold in June 2004 for $525,000
- Was listed in December 2007 for $749,700 plus $50,000 for parking
- Reduced
- Currently listed for $719,000 plus $50,000 for parking
- Rubloff now has the listing
Unit #502 has suddenly come back on the market. Only six months later, you’re going to have to pay $50,000 more.
Unit #502:
- Listed for $825,000 (parking included)
- Andco Real Estate Group Inc. has the listing
No pictures of the interiors of #502- yet.
Somebody didn’t get the memo that the year is no longer 2005.
i know this is apples to oranges, but you can buy a 4500 sq.ft. house in south barrington for the list price of that one bedroom.
Or you can buy 200 acres of undeveloped swamp in Louisiana. What’s your point?
Or the parking alone would cost $250k in Manhattan. Or something similar in London would be $1.6mm, at least. Or it would cost billions on the moon.
Any chance the sale was a relocation buyer? Is there a recorded deed, or is the sale info from MLS?
I really don’t see whats so special about this building to command the price premiums they’re asking.
no point really. just that the units in this building seem grossly overpriced for what they offer.
but my, arent we all a bit snarky. have fun on your pedestal.
mortgage fraud
Is this overpriced or is South Barrington overpriced? Time will tell….
“Is this overpriced or is South Barrington overpriced?”
How about “Both”?
I’m an irregular visitor to crib chatter so I hope I’m not violating normal practice by revisiting an out-dated post but I noticed recently that #502 in The Belvedere is back on the block and listed at $699,900. It’s one of 7 units in the building currently up for sale. Is anyone familiar with the building? I’ve only driven past it and I’m interested in that area and the building.
Regards,
Hello Billy,
The building is part of three which LR Development constructed. The building shares some common areas with The Pearson. It is the smallest of the three. The units have nice treetop views of the park and a slice of lake. Pearson is very quiet right there. I used to own in The Pearson and the management seemed good. They did a 10% rental cap, but not sure if Belvedere did as well. With the park right there it is a great location, but the one bedroom units are NOT huge and still seem overpriced at 699.