Nate Berkus’ Gold Coast 3-Bedroom Has Been Reduced $500K: 1325 N. Astor
We’ve chattered about Nate Berkus’ 3-bedroom at 1325 N. Astor in the Gold Coast several times before.
See our March 2011 chatter here.
Originally listed in January 2011, it has now been reduced $500,000 to $2.15 million.
Berkus renovated it but kept the original St. Charles metal cabinets in the kitchen and the Samuel Marx paneling.
According to the listing, there are new hardwood floors, a rehabbed master bath with custom English tub and a reconfigured master suite.
It also has two-zone air conditioning and new electrical.
The unit has an in-unit washer/dryer and a coveted deeded parking spot.
It’s been featured in Elle Decor magazine.
Even with the renovations, can this property ultimately command more than the 2003 price?
Katherine Chez at Coldwell Banker still has the listing. See the listing here.
Unit #8: 3 bedrooms, 4 baths, 3980 square feet, 1 car parking
- Sold in June 2003 for $1.5 million
- Originally listed in January 2011 for $2.65 million
- Reduced
- Was listed in March 2011 at $2.399 million
- Reduced in August 2011
- Currently listed at $2.15 million
- Assessments of $3816 a month (includes heat and doorman)
- Taxes of $29162
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×20
- Bedroom #2: 14×11
- Bedroom #3: 17×12
assessments are high, but its a full floor residence with only 12 units in the entire building. so you’re paying a premium for intimacy. lot to like about all those recent renovations too.
and seems to have great lake view from dining room. although views aren’t noted in the listing so maybe that’s the only one?
great location and does include parking.
i want to say the price is close enough to sell, but then i look again at those assessments (and taxes). right near $80K/year before you even make a mortgage payment.
i’d feel queasy going higher than $1.75MM.
But in NYC it would be 3x the price!
I just don’t see anything really exceptional about the unit. Strip out that decor and it seems like it is unremarkable.
keep going down….I don’t care if this was designed by God himself – it is ugly!!!
“Strip out that decor and it seems like it is unremarkable.”
Heh. G.O.
I’m with Clio. The place is ugly. I’d want a $1M price reduction so I could strip the place and start from scratch.
Sabrina, ordinarily I would make no remarks on the decor of a home featured here, out of respect for the feelings of the owners, per your wishes. However, since Nate Berkus is a star designer with Oprah’s seal of approval, he’s open to jabs. Personally, I can’t stand anything this guy does.
“Strip out that decor and it seems like it is unremarkable.”
It’s a 4,000 sq ft 3 bed, 4 bath in a 12-unit doorman building on Astor. If that’s unremarkable, how do you feel about pretty much everything else in the region?
” how do you feel about pretty much everything else in the region?”
Ridiculously overpriced.
I’d say that the high assessments more or less offset any small building premium, and you’re left comparing on a straight up $psf basis with other buildings in the area. I don’t see how *anyone* can seriously maintain that the space is worth only $300 psf. Maybe it’s not worth over $500, but suggesting that this wouldn’t got for $400+ is silly, I think.
his style is like sort of a mishmash of victorian style nick-knack hoarding and other contemporary crap to “make a place yours” when in reality its just fugly
* Note: I’m not saying it’s not overpriced (relative to the assessments – those look more like co-op level fees), nor am I saying that I like his furnishings or design (I generally don’t; though those floors look nice). I’m just saying that a 4,000 home in a smaller door-man building on what is one of the nicest streets in the city is anything but unremarkable.
Just pointing out that my version of this screen popped up an ad for Nate Berkus on HSL.
“those look more like co-op level fees”
$1 psf, including heat and 1/12 of a doorman, in a vintage building, doesn’t seem particualrtly high, to me.
Also, this:
http://www.redfin.com/IL/Chicago/1325-N-Astor-St-60610/unit-7-H/home/14126498
makes it tougher.
anon(tfo):
Maybe I’m missing something, but how does the unit 1 floor above, priced $550,000 higher, make this one a tougher sell? Even if you think it’s much nicer (which it appears to be)?
Or is the point that having 2 similar units for sale at the same time hurts both?
Also, this:
http://www.redfin.com/IL/Chicago/1325-N-Astor-St-60610/unit-7-H/home/14126498
makes it tougher.
“Samuel Marx paneling”
which room or pic has it? It looks like there is a faux-concrete wall in the bedroom? It is ugly. Fails the “Truth is Beauty, Beauty is Truth, that is all you need to know” test.
“Or is the point that having 2 similar units for sale at the same time hurts both?”
This.
And don’t fail to notice that #12 already sold this year, in Feb, for $2.85.
How many people are there looking to drop $2mm+ on an Astor condo this year? We have 2 celebrities hoping that number is at least 3.
I just don’t get the appeal of this at all. Boring, little natural light so gloomy to boot, bleah. Astor is crazy over rated, only real value seems to be those who can’t handle dealing with the masses.
“only real value seems to be those who can’t handle dealing with the masses.”
Not sure what you mean. Are you saying that, rather than pay the Astor premium, one should buy something slightly larger and newer in, say, Sville or just west of the Mag Mile, therefore giving in to the masses in terms of both the tourists and “in-town” unit-owners?
Have you ever spent a few hours down in the heart of Mag Mile/GC shopping insanity, and then strolled back up to the northern-most few blocks of Astor/State/Dearborn? It’s like going through a forcefield or into another dimension. I’ll defer to NYC Buyer to explain why those 9-12 blocks are unlike any others in this city, and why they are most certainly not over-rated.
“Have you ever spent a few hours down in the heart of Mag Mile/GC shopping insanity, and then strolled back up to the northern-most few blocks of Astor/State/Dearborn? It’s like going through a forcefield or into another dimension. ”
Agree completely. It’s like one of those movies, where the protagonist wakes up only to realize that he/she slept through a nuclear holocaust, and now everyone is dead. My wife said it perfectly, “I wouldn’t live on this street, it’s like everyone here is almost dead already, and they are already living in their mausoleums”. She actually preferred to simply avoid walking down it.
Also that little intersection of Astor and Goethe is just shit. Feels no nicer than something out of Queens or mid-level Brooklyn Heights. Speaking as a New Yorker, I never realized Ny’ers had issues with leaving a building and entering onto a congested pedestrian street. Come to think of it, that basically defines NYC. Even the non-commercial areas of 5th and Park are still congested as can be.
I got-sta agree with Skeptic. Absurdly overrated.
maybe he should hire a design team to come in and stage the place with real people furniture. I bet that HGTV would live that episode. Think of the possibilities…
Unsellable’s – The Nate Berkus story
Redesigned – Dropping the designer touch and making it rel
Color Splash – Chicago (they could Get that dude from Miami up to put turquoise walls and orange stripes on this boring bland home)
SO many ideas…..
“Also that little intersection of Astor and Goethe is just shit. Feels no nicer than something out of Queens or mid-level Brooklyn Heights. Speaking as a New Yorker, I never realized Ny’ers had issues with leaving a building and entering onto a congested pedestrian street. Come to think of it, that basically defines NYC. Even the non-commercial areas of 5th and Park are still congested as can be.”
i totally disagree. i lived next door at 1300 astor for a year and i loved it. the intersection that is busy is the state/goethe one, not astor. This place is literally 2 blocks from the lake, a few blocks from the shopping in gold coast, and walking distance to north avenue and old town..i adored this street. very charming and classic. I will say the more ‘desirable’ block of astor is a few blocks north, but this is a great location. the place, well, the assessments just make it ridiculous.
Edited by the Editor. “I can’t imagine why he can’t get 525k in outsized appreciation even if this is the worst economic downturn since the GD. You mean the laws of economics apply to trendy people and groups as well???”
Prolly bc of people worried that living there will turn their kids gay, even if they’re already adults.
“Prolly bc of people worried that living there will turn their kids gay, even if they’re already adults.”
lol
I hate to nitpick, but WHY do so many people these days spell a very common word as “prolly”? I’m seeing this particular mis-spelling A LOT around the net these days.
“Prolly” is not a word. The word you’re looking for is “probably”.
LOL! Yet another example of why Chicago, even in its greenest of zones, will *never* achieve the real estate equivalence of homo embracing NY, LA, or even tiny SF, as big money (the kind that drops serious cash on apartments), follows the creative class and their trendsetting ways. Chicago is still excepting and cool, but there’s just one too many former Ohioans here that openly giggle at homosexuals, hipsters, and other non-high five’n sports types, to make the creative class totally comfortable in *this* city.
The city is always evolving, but the last decade brought one too many outsiders that weren’t willing to adapt to our ways: the constant bitching about prices, small spaces, crime, etc. I miss the old Chicago where you were forced (or you forced yourself) to be a Chicagoan, which included not so much accepting the homosexuals (or Jews, blacks, whatever), but rather giving two shits about someone else or their lives.
Why is your type here when you like nothing about it?
Laura, I aint gonna stop using prolly.
Its a commet thread on the intertubez–if slang, mispellings, poor grammar and missing punctuation bother you that much, you should prolly stick to reading things people get paid to write.
“Why is your type here when you like nothing about it?”
One of life’s great mysteries.
Well anon for someone that nitpicks often, you are surely here applying a double standard my friend.
Jay, honestly why do you take what Bob says even seriously? He is born 50 years too late or in the wrong country. World has evolved beyond his mentality but he has yet to catch up.
Let me see if i read this right….
Chicago RE prices are held lower because we are not a gay friendly city. Wow that is an interesting opinion. If true then why is east Lakeview (arguably the more gay friendly area) not among the most expensive neighborhoods?
I think that it has more to do with disposable income and high net worth individuals ability to buy expensive RE than how liberal or friendly the city is toward that specific lifestyle.
No, that’s not what I’m saying JP3, and I should have stated it differently.
Chicago has a glass ceiling in regards to RE prices… they’re kinda high, but they never come near to those of LA, NY or even SF. I see it in my own company which originated herethaw the NY and LA offices alway out perform Chgo, and pastey London often out performs them all. There just aren’t enough trendsetteing people/industries here, I don’t mean just gay, but those who shape how you live from financial, arts, to culture. They’re here on a smaller scale, but the big time is elsewhere along with the big time spenders who are attracted to them and what they create like white on rice. I see so much foreign money pour into the other cities say by newly rich Chinese hicks, who will pay a fortune to live the cool life in a cool city… they contribute nothing to make it that way, other than their boatloads of cash that fund the trendsetters… it’s a never ending cycle.
When I read homo’ish statements about another trendsetter (this one in design) who leaves the city, I’m once again reminded that although I’ve made money here, I made my wealth elsewhere.
“If true then why is east Lakeview (arguably the more gay friendly area) not among the most expensive neighborhoods?”
It is among the most expensive neighborhoods.
There are a lot of people in chicago and the midwest who share similar beliefs as Bob/Dan – this intolerance is exactly why we will never be as sought after/desirable as the east and west coasts…..
“It is among the most expensive neighborhoods”
While I will agree that the area in question is good and among the higher priced areas in the green zone I would also comment that the closer you get to the immediate area the more theory proves to be incorrect. I’d suspect that most homes on the streets closer to Southport will be way more expensive then those located east of Sheffield and closer to Halsted. TO be clear this would be in the Belmont to Irving Park area where there are businesses that cater to that lifestyle.
As you go south of the gay friendly business area I think that it is exactly the reverse. Think of the area south of Diversey to Armitage. It would be more expensive to live east in that area.
Jay – you are correct as well but you also have to take into account that except for SFO they are all much bigger cities that attract world class attention and cool factor. Chicago is still that town that gets overlooked. Perhaps the Olympics would have helped. Maybe not…..
“When I read homo’ish statements about another trendsetter (this one in design) who leaves the city, I’m once again reminded that although I’ve made money here, I made my wealth elsewhere.”
Plenty of wealth here. You can’t compare Chicago to SF because that’s a much smaller city and constrained by geography. If you are Mark Zuckerberg and live in Palo Alto- along with a couple of hundred other rich facebookers- how many houses do you think there are? It’s why prices in places like Vallejo, Richmond, Pittsburg and further out in Stockton have collapsed (finally) from the bubble. No way to commute to the Valley from those locations.
Chicago definitely doesn’t attract the international types (thank goodness.) Not many of them are buying up condos here just to have one. That leaves much more manageable real estate for the rest of us. In fact, I would argue, that Chicago is the only truly cosmopolitan U.S. city that IS affordable that has it all (sports, restaurants, the arts, music scene etc.)
It’s funny what people think of cities. I knew plenty of Manhattanites who moved to the Valley for work reasons and HATED it. The Valley is essentially just one big suburb (complete with 2 story office parks and Wal-Mart.) They were bored out of their minds. Even if they lived in SF and did the hour long commute down the peninsula, they were bored with SF’s scene as well (certainly NOT 24/7 like NY.) It’s all perspective and what you’re looking for out of your life.
“Prolly” is not a word. The word you’re looking for is “probably”.
I’m with you Laura. I don’t understand the word “prolly.” And, actually, I haven’t seen it used the much around the internet (but maybe I’m on more highbrow sites, I don’t know.) Can’t you just spell it out? It’s not like “LOL” where you’re actually shorting something.
Sabrina help us out here. There is currently an exodus of the productive class OUT of California. If other coastal areas follow their lead, the same process will occur.
Let’s not conflate Sand Hill Road with the Castro district either, as Sabrina says they are 1 hour commute apart. Let’s not confuse 5th Avenue and 57th street (Midtown) or the corner of Wall and Broad Sts., with Christopher Street. There is no cross-fertilization between big-money (i.e. Silicon Valley, Wall Street) with homosexual areas.
Jay and clio and miumiu have it wrong again, as usual. (Hollywood and West Hollywood may have some crossover, that’s probably true, but that’s the anomaly not the rule.) Other big-time money areas like Shanghai, Singapore, Hong Kong, Zurich, the London (City), Dubai, are **NOT AT ALL** locations where homosexual culture is dominant, appreciated, or even valued much! Not at all. Whoever came up with this “creative class” propaganda can’t back it up with much.
People like clio, jay, and miumiu are always wrong on facts on topics like these. They live in a fantasy world, created by media types and lack critical reasoning skill, which Bob actually does have.
‘People like clio, jay, and miumiu are always wrong on facts on topics like these.’
Hey Dan… good god you pop up everywhere.
My original post wasn’t intended as a defense of gays or as you people call it… their *lifestyle*. If fact, I don’t accept people’s race nor their ‘lifestyle’, they don’t need my acceptance and who am I to give my blessing? Rather I’m indifferent, meaning I could care less who you are or who you sleep with. Seriously, I don’t bat an eye nor give a flying fuck.
For the most part, Chicagoans (in the greenzone… the majority of areas discussed here), got over race and sexuality roughly at the same time Harold Washington became mayor, and for the most part they still are. It’s the faux urbanites transplanted from their own failed states like IN and OH that keep up the girly giggles and ‘wink-wink-sister’ homo comments, that are as easy to identify as being outsider, a seeing large people waddle’n down MI Ave in blinding white Nikes, a fanny pack, and a look of terror on their faces. Naturally I can’t prevent them from moving here and thus ruining the lakefront liberal vibe, the weight
of city living will eventually crush their dreams soon enough, and force them back to where they came from… that and the desire to keep a lion in the yard.
The junior high attitudes they forgot to check at the Skyway are just plain bad for business. People from all over expect major cosmopolitan areas be just that… cosmopolitan,
enlightened, better than where they come from, and small fortunes are paid to buy-in and experience that way of life. Why spend large here when you can experience that same in Naperville for half the price? So actually Dan, stupid comments hurt my property values… and *that* pisses me off.
Surely, gringozecarioca is not a REAL New Yorker. My husband and I are howling with laughter at his comments:
“Also that little intersection of Astor and Goethe is just shit. Feels no nicer than something out of Queens or mid-level Brooklyn Heights. Speaking as a New Yorker…” or even better,
“My wife said it perfectly, “I wouldn’t live on this street, it’s like everyone here is almost dead already, and they are already living in their mausoleums”.
I’m guessing gringozecarioca is a native of what we like to call bridge and tunnel or upstate. Your wife’s token about Astor is most likely a way to make you feel better about the fact that you can’t afford to buy her something there. I said the same thing to my husband when we would visit friends at 740 Park Ave.
I do agree with you though that Nate’s place is overrated.
The Tribune reported that the price is now $1.995 million.
“I’m guessing gringozecarioca is a native of what we like to call bridge and tunnel or upstate.”
Carioca 100% these days but as I have said previously. Born in Forest Hills. Lived next to Tennis Club until I was 6. Lived in Manhattan majority of my life. Ze was in the Dorians Rob Chambers crowd back in the day.. disappeared into lower Manhattan later on.. more the Coffee Shop, Lucky Strike, Il Tres Merli, Mercer, Odeon scene.
“Your wife’s token about Astor is most likely a way to make you feel better about the fact that you can’t afford to buy her something there.”
a- You assume my wife knows what anything costs or what she is worth. Both hilarious.
b- You assume my wife would consciously avoid saying something to protect my feelings… More hilarious.
c- You also wrongly assume my wife wouldn’t buy it without asking me first. She would because she has done it before. Sounds like your husband keeps a nice short leash on you. C’est la vie..
Lastly, I stand by my comments…(even if they are not really mine) Those awful overbearing entranceways… ugh.. MAUSOLEUM! Then throw those heavy cast iron windows with those big white stones… Overbearing! No comparison to the beautiful Brownstones in the Heights (not that I am a Heights person-but they are beautiful) and, if I remember, as you get into the 1300 -1400 area on N. Astor it is just littered with ugly apartment buildings. Throw in no views to really piss on my Unicorn criteria…..
p.s. not a fan of any of the Avenues in Manhattan (exception being 5th or CPW). Ze prefers the side streets.