Renovated 3-Bedroom Co-op Reduces $158,000 at 70 E. Cedar in the Gold Coast
This 3-bedroom in 70 E. Cedar in the Gold Coast came on the market in September 2020.
According to Chicago Apartments: A Century of Lakefront Luxury by Neil Harris, 70 E. Cedar was originally part of the Potter Palmer estate in 1926.
At 18 stories, it has a 3-story limestone Italian Renaissance base, with keystones, scrolls and rustication. The building has 4 penthouse duplexes above the 13th floor, some of which have terraces.
It was built as a co-op.
There are 2 units per floor. It has a doorman, on-site engineer and an attached garage, which apparently has a waitlist (according to other listings in the building).
This unit was “just renovated” by Jean Atchison, a nationally recognized interior designer.
It retained some of its vintage features including moldings, crown molding and a wood burning fireplace in the living room.
The dining room has been converted into a family room with a built-in storage.
The listing says there is an “all new gourmet kitchen” with white cabinets and Monogram appliances that includes a glass door integrated refriegerator/freezer, a 5 in 1 oven, a slide-in stove with oven and warming drawer.
It has a quartz island, a deep Franke sink, and a custom banquette with a matching quartz top.
It also has 2 pantries and a Butler’s station.
The powder room holds the washer dryer.
2 of the bedrooms are en suite, including the primary bedroom.
It has space pac cooling.
The building has additional storage and a shared deck.
The listing says 70% financing is allowed with a 30-day board approval.
The monthly assessment is busted out as the following:
Breakdown $2,318.00 Monthly assessment – $1,241,27 Tax $166.87 Reserve contribution $500.82 Capital Improvement (Owner will Pay in Full) $59.87 Electric
However, Unit 8W, which has 135 shares (10W has 139 shares) of the co-op is paying this in their assessment:
8W has 135 of the 4250 shares. Assessment breakdown: Monthly Assessment: $2,251.88, RE Tax: $1,205.55, Reserve Assessment: $162.07, Capital Projects Assessment: $486.41, 7 year term loan: $294.44, Electric: $52.14.
Originally listed in September 2020 at $790,000, it has been reduced $158,000 to $648,000.
According to Zillow and Redfin, it last sold in 2014 for $780,000, so it is listed $148,000 below the last sales price.
At 2400 square feet, is this a deal?
Karen Peterson at @Properties has the listing. See the pictures here.
Unit #10W: 3 bedrooms, 2.5 baths, 2400 square feet, co-op
- Sold in April 2014 for $780,000 (according to Redfin and Zillow)
- Originally listed in September 2020 for $790,000
- Reduced
- Currently listed at $648,000
- Assessments are $2544 a month (but maybe more? #8W’s assessment is $4452)
- Taxes are included in assessments
- Space pac
- Washer/dryer in the unit
- Attached garage parking but there may be a waitlist?
- Wood burning fireplace
- Bedroom #1: 12×18
- Bedroom #2: 18×12
- Bedroom #3: 11×10
- Living room: 26×15
- Family room (formerly dining room): 17×15
- Kitchen: 13×13
- Laundry: 5×6









