Never Before on the Market: A 4-Bedroom Penthouse in the Hancock at 175 E. Delaware
This 4-bedroom penthouse on the 92nd floor, the highest residential floor, in the John Hancock (yes, I’m still calling it that) at 175 E. Delaware in Streeterville came on the market in June 2022.
Built in 1970, the Hancock, which doesn’t have a name anymore because no one has bought the naming rights, was built in 1970 and has 705 units.
It’s a full amenity building with an indoor pool, exercise room, 24-hour doorstaff and attached rental parking. There is a grocery store in the building. The lower floors are commercial and retail space.
This is a southeast corner unit with 65 linear feet of windows with views of the Lake, Navy Pier, and most of Chicago and the suburbs.
The listing says it has “never before on the market” and is 3 combined units.
It’s been remodeled by designer Danielle Richter with some unique features including 2 fireplaces, specialty lighting from France and a 200+ bottle built-in wine cave.
The main living space is open concept with views.
The kitchen is De Giulio with German Silver and Ivory Lacquer cabinetry, Artistic Tile backsplash in Calcutta and Mother of Pearl, a 13 foot island with bar seating and 2.5″ natural Quartzite counterops, paneled Subzero in antique mirror that reflects the lake views, and a Wolf induction range and microwave.
The primary suite has a 12 foot tray ceiling and a two-toned marble ecosmart fireplace, a walk-in-closet and an en suite bathroom that the listing says is a “rejuvenating work of art with a Calcutta Gold soaker tub carved from a single block in Italy, heated floors with custom mosaic tile, Calcutta counters with hammered polished nickel sink, Waterworks fixtures, and large separate shower with body sprays.”
The second and third bedrooms are also en suite and the third bedroom has a Murphy bed.
The fourth bedroom is next to the living room and can be used as a den and has a suspended multi-panel door.
The unit has a laundry room with a Miele front loading washer/dryer, deep sink, storage and 8-foot Carrara marble countertop.
There is electric heating and cooling and rental parking in the building.
Originally listed in June 2022 for $4.5 million, it has been reduced $705,000 to $3.795 million.
Despite all the other new tall residential high rises built in Chicago since 1970, is the Hancock still the ultimate in skyscraper living?
Keith Wilkey at Berkshire Hathaway HomeServices has the listing. See the pictures, video and floor plan here.
Unit #9207: 4 bedrooms, 4.5 baths, 3308 square feet, penthouse
- It has multiple pins so the sales history is not as clear
- Sold in April 1983 for $75,235 (per Redfin)
- Sold in August 1990 for $530,000 (unit 9207)
- Sold in April 2005 for $1.8 million (units 9206 and 9207)
- Sold in March 2012 for $275,000 (unit 9205)
- Originally listed (all 3 units combined) in June 2022 for $4.5 million
- Reduced
- Currently listed at $3.795 million
- Assessments of $3101 a month (includes doorman, cable, exercise room, pool, scavenger, snow removal)
- Taxes of $22,529 (not sure if this includes all three units)
- Wall A/C
- Washer/dryer in the unit
- 2-fireplaces
- 200 bottle wine cave
- Bedroom #1: 24×14
- Bedroom #2: 14×13
- Bedroom #3: 22×12
- Bedroom #4: 15×14
- Living room: 22×20
- Dining room: 22×11
- Kitchen: 26×11
- Family room: 16×21
- Laundry room: 10×7
- Walk-in-closet: 13×8
The Hancock is a great place to live (I can attest to that personally). Excellent service, beautiful public spaces, all kinds o convenience, world-class gym, etc.).
This penthouse is the ultimate Hancock unit, especially because only the 91st and 92nd floors have these high ceilings and huge windows. Units on these floors don’t become available often because first of all they always had the fewest units (since the building narrows as it rises) and also because so many owners have combined units up at this level.
The decor is hard to look past. I don’t like it much. If I bought, I’d be stripping out a lot. As raw space, it would look pretty dramatic and be fun to start from scratch on most of the unit.
The first price of nearly $5 million struck me as a joke, and of course, they didn’t take long to lower it. I still think the current price is too much. I’d be surprised if they even got $3 million. That would make this about the most expensive unit in the building’s history.
The problem with asking so much for a unit in this building is multifold: It’s 50 years old and doesn’t have some of the modern look and feel people tend to like in this price category. But it’s not vintage either. So you have to find someone who appreciates mid-century, but that type of architecture was purposely built to look minimal, which doesn’t equate to “wealthy” for many people. Also, no outdoor space at all (not even a common deck).
I think the views and high ceilings speak for themselves. But it will have to find someone who appreciates that for their own sake. Along with all the convenience and amenities.
I eagerly await some of the usual suspects shitting on this unit. Some of y’all find fault in everything. 🙂
“Some of y’all find fault in everything.”
Well, they were smart to limit the number of dinner guests they can host by buying that opulent six-top. It must reduce the amount of crumbs they have to extract from the several-inch deep rug.
“I eagerly await some of the usual suspects shitting on this unit. Some of y’all find fault in everything. ?”
Ha! Often there is a property that I think is pretty decent only to then see the litany of problems in the comments. It’s fun.
Related: the conspiracy theorist in me has wondered in the past if JohnnyU and Sabrina were the same person doing a fantastic job of creating tension because he disagrees with absolutely everything she has to say, always with extra doses of sarcasm. It’s fascinating stuff.
Little too Liberace for my taste.
The JohnnyU and Sabrina arguments drive me a little nuts. There, I said it. But it is nice how Chicago real estate brings us all together in one way or another.
Dan #2 always have great input, especially for the Hancock – thank you, Dan #2.
This unit is worthy of being one of the premier properties in Chicago, Layout is solid and views are arguably the best in the city. With the niceties out of the way, wish they really would have gone full on MCM, the kitchen really doesnt fit and IMO is really off-putting.
Unfortunatley I’m not the targeted buyer/audience for this but the unit is closer to 3000sf and IMO its worth $1000/sf
“Related: the conspiracy theorist in me has wondered in the past if JohnnyU and Sabrina were the same person doing a fantastic job of creating tension because he disagrees with absolutely everything she has to say, always with extra doses of sarcasm. It’s fascinating stuff.”
LOL – def not the same person.
I always thought Sabrina and JoeZ were related somehow, she’s really picked up the mantle of cheerleader from him
One Q for the chatteratti, is it worth going to Modern Hill – https://midcenturywarehouse.com/? They’ve got some really interesting pieces but they seem really proud of their inventory
Blue Streak – thanks for the call-out! I appreciate it. It’s rare to get a compliment from anyone here.
I’ve been obsessed with the Hancock since, oh, around 1980. I’m lucky I had a chance to rent there for a while.
If I did find myself with, say, $10 million tomorrow, I’d offer $3 million for this unit and spend another $1 million on a renovation. I’d like to see a more minimalist design that goes with the era this building was constructed in. Definitely nothing “showy.”
Now I feel pressure to say something nice… Nice floorplan, great views, and, uh, white paint? The front door is interesting. How big is the freight elevator? Is it large enough to take advantage of a larger opening?
Aesthetically, I love MCM and buildings such as BFKA Hancock. I like clean, simple lines. One of my favorite buildings in the city is 1300 N Astor St (see https://www.zillow.com/homedetails/1300-N-Astor-St-UNIT-14A-Chicago-IL-60610/65563165_zpid/). However, I hate everything that goes along with that vintage. No outdoor space, window AC, awkward w/d (see washer draining to sink and condenser dryer), no deeded parking, old windows, and all the other problems I don’t even know about because I have never lived in an old highrise. I will just keep looking at them from the outside.
“I always thought Sabrina and JoeZ were related somehow, she’s really picked up the mantle of cheerleader from him”
Remember when I was called out on this blog for YEARS by Chuk because I was a housing bear?
Yeah- good times.
Market conditions change. It’s no longer 2009. People need to move on from the housing boom and bust. It’s not coming back.
“Market conditions change. It’s no longer 2009. People need to move on from the housing boom and bust. It’s not coming back.”
Which one?
Didn’t we just have a boom with the greatest market ever?
Has rich retired Boomer written all over it. That age bracket would find this building appealing. They’d probably not want to vomit at much of the decor either.
Laura,
Moving in and out of the Hancock is a bit of an adventure. The freight elevator is decently sized, but it only goes up to the 44th floor. Then you have to take one of the “back elevators” up to your unit, and it’s smaller. Plus you or your movers have to cart all your stuff across most of the 44th floor to get from one elevator to the other. Seems like it could be designed better.
There is a large loading dock in a garage under the building for the moving truck. But you have to schedule moves well in advance, as you’d expect considering there are 700 units in the building. The Hancock is not a place to live if you don’t like cooperating with and planning around others.
I love the decor, though I agree it would be more appropriate in a pre-war building.
Personally, I’m so glad that our long national nightmare of MCM dominance in furnishings is coming to an end. There is much to appreciate in those designs, but it’s been done to death at this point. Love to see art nouveau/art deco getting a bit of a comeback.
If annony is going to point out the inability to host a large dinner party, I feel obligated to point out the lack of private outdoor space…
“If annony is going to point out the inability to host a large dinner party”
I mean, I get that these folks don’t have kids living there (the glass on the floor-level island cabinets was the first clue), but it just always strikes me as odd when people who have the space don’t have bigger dining tables. There are four people in my household – seems strange to not be able to have more than two guests join us. Three kid friends stay for dinner? One other family of at least three comes over? Not exactly large dinner parties. In our almost comically small house, we have eight chairs at the dining table and add two more when needed, and have an eight top outdoor table. They all get lots of use (the indoor chairs are all trashed after about eight years – lesson learned as to having linen/fabric seats). One of these folks’ chairs probably cost as much as our whole set. It’s a little depressing.
“Didn’t we just have a boom with the greatest market ever?”
I’m talking about the bubble of 2005. Duh. It’s time to move on. I know it’s harder for those of us in our golden years. Time just flies, doesn’t it?
But we no longer have a bubble market. And the bust is over. None of those market conditions exist and they’re not coming back in 2022.
Chicago housing market was the best in 15 years. Hooray. But the doomers gotta doom. Gotta wish for ill on Chicago. I’ve never understood people who spend their lives being so negative and bitter. It’s one thing to be a bear when the economic conditions warrant it. It’s another to hope for a collapse or a city to decline.
“But we no longer have a bubble market. And the bust is over. None of those market conditions exist and they’re not coming back in 2022.”
Increase in money supply and record low rates cant cause inflationary pricing in asset classes? Interesting…
“Chicago housing market was the best in 15 years. Hooray. But the doomers gotta doom. Gotta wish for ill on Chicago. I’ve never understood people who spend their lives being so negative and bitter. It’s one thing to be a bear when the economic conditions warrant it. It’s another to hope for a collapse or a city to decline.”
I never unterstand the people who keep their heads buried in the sand, its one thing to be positive when its warranted, its another to be a Pollyanna
Weren’t you the one calling the market a Crash? Why do you hate Chicago and America
“a Crash?”
“off a cliff” is the phrase that pays.
Still in freefall, I suppose, with the crash coming soon.
“Still in freefall, I suppose, with the crash coming soon.”
It’s only August 18. Too soon to know what’s happening this month. It’s very, very slow on the listings side. No one wants to sell right now. Inventory initially spiked last month but has now stalled out. If you were waiting for a lot of new homes to come on the market in Bucktown, Logan Square, Lakeview or LP, you are out of luck.
Downtown remains challenged and the worst market. Too many listings and the sales have cratered. If a buyer is looking there, there are a lot of deals. You can get a condo at 20-year lows in some buildings. Might have to do a full renovation though.
Mortgage rates have come back down to 5% to 5.4%. This will help. Buyers, and sellers, are still adjusting to these higher rates. It’s going to take some time.
History has shown buyers that if they wait 6 months or more, the rates will likely come back down. Why not wait and see if that’s true? Market is mostly on hold.
Also, many sellers are likely going to wait until the spring to sell now unless they HAVE to.
“Increase in money supply and record low rates cant cause inflationary pricing in asset classes? Interesting…”
This is NOT what happened in 2003-2008. And Chicago hasn’t had “inflationary pricing.” Chicago is still lagging in inflation adjusted pricing, as anon(tfo) shows all too well on nearly every listing when the sales price lags inflation even over 20 years.
So, yeah, it’s time to move on from the bubble and bust mentality. I know many of you have PTSD about it. But this isn’t 2008 by any indicator except rising prices, and even that’s only in some neighborhoods.
“I never unterstand the people who keep their heads buried in the sand, its one thing to be positive when its warranted, its another to be a Pollyanna”
Pollyanna?
National unemployment of 3.5%
Hottest neighborhood in America in Fulton Market
Several billion dollar residential/commercial developments ongoing
Two of the top universities in the nation
Growing VC community
Fresh water, fresh water, fresh water
3 months of summer temperatures in the 70s and 80s
No fires
Fresh water, fresh water, fresh water
Food
One of the largest airports in the world with a new international terminal coming
Amtrak build-out for regional commuter service
Affordable housing
No fears about dense neighborhoods or building massive towers
Still has manufacturing and industrial jobs
The future is really, really bright. The Midwest and Ohio Valley is looking good. And Chicago is the leading city.
And yes, there are challenges. We all know what they are. Crime, income inequality, lack of investment in some parts of the city, need more affordable housing.
National unemployment of 3.5% – Negative Real Income growth
Hottest neighborhood in America in Fulton Market – According to whom
Several billion dollar residential/commercial developments ongoing – Its not built till its built
Two of the top universities in the nation – Only one is in Chicago
Growing VC community – Chicago isnt in the top 10
Fresh water, fresh water, fresh water- Great
3 months of summer temperatures in the 70s and 80s – What Global warming
No fires – Ha
Fresh water, fresh water, fresh water – You already said this
Food –
One of the largest airports in the world with a new international terminal coming –
Amtrak build-out for regional commuter service – Money loser
Affordable housing – Compared to NY/NJ, LA & SF yeah
No fears about dense neighborhoods or building massive towers – Compared to what
Still has manufacturing and industrial jobs – You mean jobs that dont allow one to purchase a $300k home?
“The future is really, really bright. The Midwest and Ohio Valley is looking good. And Chicago is the leading city.” Less Chicago and more the rest of the Midwest
“And yes, there are challenges. We all know what they are. Crime, income inequality, lack of investment in some parts of the city, need more affordable housing.”
You forgot Shitty Politicians, taxes. really shitty politicians, Debt, etc.
Is a city really world class if you’re afraid to walk the streets after 8PM?
“This is NOT what happened in 2003-2008. And Chicago hasn’t had “inflationary pricing.” Chicago is still lagging in inflation adjusted pricing, as anon(tfo) shows all too well on nearly every listing when the sales price lags inflation even over 20 years.”
Quit being stupid on purpose, its not a good look
“If Chicago is still lagging in inflation adjusted pricing”, is it really HAWT ™?
“So, yeah, it’s time to move on from the bubble and bust mentality. I know many of you have PTSD about it. But this isn’t 2008 by any indicator except rising prices, and even that’s only in some neighborhoods.”
I remember similar arguments in 07
“I remember similar arguments in 07”
Anyone arguing that this is like 2007, especially in Chicago, just really has no understanding of the housing market in 2022. I’m glad you’re on this blog JohnnyU so you can better understand what the market conditions ARE like because they aren’t 2007. Again, people need to get over their obsession with the housing bubble and that rising prices means another bubble.
When I started this blog in 2007, I did 3 posts a day because there were 4,000 properties on the market in just Lakeview alone. Right now, there are 400.
10,000 new condos were being built in the South Loop and the Loop. Right now, it’s probably 300. Maybe 400? I don’t know how many units are in The Reed in Printers Row.
There was a credit crisis brewing in the housing bubble with mortgage and appraisal fraud.
Do people not remember what went on? I guess not. Absolutely NONE of the same conditions are happening right now that were happening in 2007 except rising prices.
Move on. Get into this decade.
“You forgot Shitty Politicians, taxes. really shitty politicians, Debt, etc.”
This is true in every city, I’m afraid. So yeah- I’ll take all of our positives versus the negatives. Thanks.
Who’s afraid to walk the streets after 8 pm? Only you are JohnnyU. Oh wait, you live in Indiana and haven’t lived in Chicago for decades, if ever.
Ba ha ha ha. You’re the one who “knows.” Ba ha ha.
Ten seconds in West Loop (even after 8pm! Lol) would be enough to convince most rational people about Chicago’s bright future.
This is the closest we will ever get to knowing what it must have felt like in the 20s seeing the Loop go up, but now it’s the 20s again and West Loop is exploding. It’s crazy going to work each day and seeing all the cranes lined up down Randolph. And I have such FOMO that I don’t have the time to try every bar and restaurant in West Loop let alone my own neighborhood or anywhere else.
“Who’s afraid to walk the streets after 8 pm? Only you are JohnnyU. Oh wait, you live in Indiana and haven’t lived in Chicago for decades, if ever.”
You posted that you were afraid to walk the streets after dark
LOL, you cant make this up
Who’s censoring anyone?
And although the Hancock has many transients, I also met many residents who’d lived there for decades. Please don’t generalize.
No neighborhood amenities? LOL.
Yes, it’s expensive and not for those who don’t like elevators and an annoying garage. I found that the good outweighed the bad, but that’s just me. Others might disagree.
Guillermo,
Good comment on the West Loop. My 22-year old son was out with friends in River North and Old Town last night (Saturday) and said the whole area was just packed with people having fun.
The Chicago haters are going to keep hating, but they’re fighting against reality.
“Who’s censoring anyone?”
HH is not allowed to post on this site anymore so he’s complaining that he can’t spread his hate and propaganda. I will remove his comments.
The “transient” comment was about East Lakeview. He has said this every time I post about a property in that neighborhood because when he last visited it in 1975, it was transient (in his mind.)
Remember, HH doesn’t live in Chicago. He doesn’t know the changes in the city.
And it’s even more ironic that he’s again saying “transient” about the particular property we were chattering about because the owners have owned it for 30 years. Yeah, real transient. The property itself just proves how wrong he is, and has been, about that neighborhood. Plenty of people living for decades there.
The neighborhood changed a lot once it turned from apartments to condos in the 1990s and 2000s.
“It’s crazy going to work each day and seeing all the cranes lined up down Randolph. And I have such FOMO that I don’t have the time to try every bar and restaurant in West Loop let alone my own neighborhood or anywhere else.”
Yep. Lots of cranes in that neighborhood. It’s obviously the epicenter of construction right now. Very exciting neighborhood right now. The next decade should be interesting. I wish they would build some tall condo towers there. Right now, it’s all apartments. Maybe some of the apartment towers will convert over to condos when they are built. I think the demand would be there for condos but the market will dictate that.
“The Chicago haters are going to keep hating, but they’re fighting against reality.”
It’s summer in Chicago and the city is “back.” The festivals, concerts, air & water show etc. I’m glad to see a lot of European visitors again. And the city looks beautiful.
I know Lady Gaga was just in town for her concerts at Wrigley, but I wonder if she noticed the differences since she lived here with her boyfriend 5+ years ago. The skyline looks very different now. Energy is different too.
” the particular property we were chattering about because the owners have owned it for 30 years”
And 3 of the other five have a single owner for 25+ years as well.
It is always possible that one or more of them have been rented at one time or another during that period of course.
“It is always possible that one or more of them have been rented at one time or another during that period of course.”
Sure, but currently the listing says it’s 100% owner occupied.
“This is true in every city, I’m afraid. So yeah- I’ll take all of our positives versus the negatives. Thanks.“
This really crosses over into pollyanna territory I’m afraid. The scope and scale of Chicago’s tax, debt, crime and corruption issues is not commonplace when taken in totality.
Condo conversions began in the 70s in that neighborhood. My parents bought one of the earlier conversions in 1975.
Gosh, 2 “pollyanna’s” in just a few days.
Yawn.
I believe this is still on the market 4 months later…
any guesses that this will finish sub 3 mil?
“will finish sub 3 mil?”
Just the ’05 purchase + CPI = $2.75m
Add the ’12 purchase + CPI = $350k
$3.1m, writing off the reno/decorating costs (which is reasonable).