Pricing to Sell in the ParkView: 505 N. McClurg in Streeterville
We last chattered about the ParkView at 505 N. McClurg in Streeterville in September 2009.
See our prior chatter here.
Back then, several investors were trying to flip 2-bedroom units in the building.
Unit #2402 was one of the units we chattered about.
It is still on the market and has been reduced by another $59,500.
The unit is also now priced below the 2008 purchase price.
The listing says it has upgraded finishes. The kitchen has stainless steel appliances and granite counter tops.
Is it now “priced to sell”?
Francesca Rose at Prudential Rubloff now has the listing. See more pictures here.
See the property website here.
Unit #2402: 2 bedrooms, 2 baths, 1464 square feet
- Sold in June 2008 for $795,000
- Originally listed in June 2008 for $869,000
- Reduced several times
- Was listed in September 2009 for $759,000 (plus $60,000 for parking)
- Reduced
- Was listed in November 2009 for $739,000 (plus $60k for parking)
- Reduced
- Currently listed for $699,500 (plus $60k for parking)
- Assessments of $661 a month
- Taxes are “new”
- Bedroom #1: 15×13
- Bedroom #2: 13×10
- Living room: 17×16
- Kitchen: 12×8
- Dining room: 17×11
screwed.
I am thinking $375/ft for $549K. Then again the theater could bring it up another $150K for a movie lover!
She uploaded the thumbnails instead of the real pix, right? Right? Please let that be the explanation.
You are paying for the location with this one apparently.
The theater is in a common area. I lived in a building with one and it was useless.
“custom paint”
*sigh* I think this is one of the most idiotic realtor listing descriptons next to “Seller is Owner!” Its as stupid as “stainless steel and granite!” like every frickin place in the city that was constructed in the last 10 years doesn’t have it….
And the really dumb part, is that 90% of the walls in the photos are WHITE!!!
“90% of the walls in the photos are WHITE”
No, they are “[fill-in-the-blank] white” or “[FITB] cream”.
And if it’s genuinely designer paint, are they leaving ($40+) quarts of each of the shades for touch-up?
Dude top of the line Benjiman Moore paint is $55 a gallon, there is NO need for paying anymore as it is the best paint money can buy. Oh and guess what, you can get it in any color you want! Anyone that pays for Ralph Lauren paint is a frickin grade A retard.
And I got your cream and fill in the blank white…
“Anyone that pays for Ralph Lauren paint is a frickin grade A retard.”
RL paint is about $30 a gallon guy (often it’s the same or less than BenjAmin Moore).
“Anyone that pays for Ralph Lauren paint”
Is that what you think of when you see “designer paint”? Huh. Makes me think of Farrow & Ball (which have stupid names), or Donald Kaufman (which do not, afaik), which are $100+/gallon. Is RL paint actually expensive?
I have no idea as I only buy Benji moore, that’s just the only “designer” paint I could think of… and by designer I meant “with some sort of name on it that people like myself would recognize”.
Good to know that crap isn’t more than actual good paint!
“Dude top of the line Benjiman Moore paint is $55 a gallon”
never, i buy dutch boy and learned some painting techniques from a few interior designer acquaintances and there is no way you can tell the difference even with benji’s faux paint.
“never, i buy dutch boy and learned some painting techniques from a few interior designer acquaintances”
I painted for years with one of the best in chicagoland who has been painting for 40 years, and he wasn’t an “interior designer” (lol since when do floral arrangers and pillowcase shoppers know how to paint?) and would always use benji moore paints because they were the best and lasted the longest. But hey what does he know
The benefit of premium paint is in the application and not the shine/color/texture in my opinion. I bought some premium paint a couple months ago and it was great because it took 1 coat and paint did not come off the wall when you roll over an area multiple times. I have to say that painting has become a pleasure with the square pad for edging around trim.
“lol since when do floral arrangers and pillowcase shoppers know how to paint?”
good point and funny too 🙂
premium paint, i have heard, does last longer. but when our bedroom has changed color 3 times in the last 7-8 years (doesnt include the first color we painted it when we moved in) then i just skip over to menards and dutch boy cheap it up. cause i know even if we do a bad job or the paint sucks it will be changed soon anyway 🙂
Beautifully staged and appointed, but crap location – too far east. Streeterville is all the cost of River North with none of the fun stuff to do.
“Steps to Michigan Avenue” is more like three blocks in a wind tunnel. Not a long distance but it won’t be fun in the winter.
To the seller: Keep reducing. $450k is all this is worth in this location and in this market.
Even the best paint can’t hide bad preparation. If you don’t properly clean and sand the surface, then even $100 a gallon paint is worthless. The gloppy stuff on some vintage apartments and condos is especially distressing.
The unit seems very suburban and for 500 a square foot they are asking on the high end for a building that is not considered to be “premier”. 600,000 with parking right now and you are catching a falling knife.
@Fairbanks:
How exactly can a condo in a high-rise with views of the city from multiple directions seem “suburban” ?
“How exactly can a condo in a high-rise with views of the city from multiple directions seem “suburban” ?”
Imagine it with curtains closed. Would you know the difference if Fairbanks knocked you out and dropped you in a condo somewhere in DuPage with the curtains also closed? Without peaking thru the curtains, obviously.
When you close your eyes when you lay your head down to sleep every place looks the same. This unit is no different from a nondescript dorm at U of I in that sense.
“When you close your eyes when you lay your head down to sleep every place looks the same. This unit is no different from a nondescript dorm at U of I in that sense.”
Or a studio in Uptown, right? It’s not that I agree it’s “suburban” (I think it’s more “Westin”, which are often suburban), but I get what fairbanks was seeing.
You seem to be implying that the location and view are worth a substantial premium, HD. Are you feeling okay?
” This unit is no different from a nondescript dorm at U of I in that sense.”
Yeah the cinderblock walls and institutional tile in this place are totally similar to a U of I dorm. Even the smell of cow feces wafting in the air is the same, right?
“Even the smell of cow feces wafting in the air is the same, right?”
wow that brought back memories.
Sonies, you do have a point. I heard about the cow feces at UIUC. So I will qualify my post to exclude smell.
“I heard about the cow feces at UIUC”
hearing about it and skipping breakfast to make it to class on time then coming out of class starving and being hit with that smell is two totally different things.
I have experienced the smell first hand having lived in a southern exposure room in the 6 pack. 😉
“I have experienced the smell first hand having lived in a southern exposure room in the 6 pack”
got that beat, my girlfriend the last year was in vet school, nothing like her coming home un-showered after her arm was in a cows/horse/maybe frogs azz.
The very definition of epic fail:
# Sold in June 2008 for $795,000
# Originally listed in June 2008 for $869,000
How frickin clueless would this seller have to be to try this in 2008? Even the greater fools weren’t going to fall for this, as they could no longer get financing.
Talk about a bad location…..Have any of you been down on those blocks of Illinois street on a hot summer Saturday night? Wall to wall drunks, noise, congestion — the worst. While Fox and Obel is a saving grace, and the building itself is well-designed and constructed, for over 2/3 of a million you can do alot better.