Re-Sales Appearing in The Silver: 303 W. Ohio in River North
We haven’t chattered much about The Silver, the new construction high rise in River North at 303 W. Ohio.
Current stats in the building (out of 233 units):
- 45 have closed per public records through Oct 5 (closings began in July 2009)
- 13 are currently on the MLS for sale
- 1 is currently on the MLS for rent
Some units may be both for sale AND for rent. Also, developers don’t list all their current available units on the MLS.
A few re-sale units have recently appeared on the market.
Unit #1803, a southeast corner 2 bedroom re-sale has been listed since August.
It has already been reduced $10,900.
The listing says it is “upgraded”. It has stainless steel appliances and a granite island. One of the bathrooms has a walk-in shower.
Elizabeth August at @Properties has the listing. See the pictures here.
Unit #1803: 2 bedrooms, 2 baths, no square footage listed
- Sold in August 2009 for $476,500
- Originally listed in August 2009 for $499,900 (parking $35,000 extra)
- Reduced
- Currently listed at $489,000 (parking $35,000 extra)
- Assessments of $410 a month
- Taxes are “new”
- OR you can rent it for $2300 a month plus $200 a month for parking
- Bedroom #1: 13×10
- Bedroom #2: 12×10
- Living room: 18×18
- Kitchen: 9×10
You want to be on the WEST side of this building. It buds up right next to the El on the east side. I’m sure the East has the better views, but south west or north east (with the curved wall of glass) is where you want to be. 500k for a 2/2 here is a rip off IMO.
bleh, I meant south west or north west side of the building 🙁
375k max
The side on Franklin St. overlooks the EL (Brown Line) although the views are probably very good. The side that overlooks Orleans has clear views but nothing really outstanding to look at. The side overlooking Ohio has the exit traffic from the I90 but may have very good views. The side overlooking Grand probably has good views towards the Merchandise Mart.
As I said on another thread, based on the number of units with lights on Friday and Saturday night, this last weekend, it appear to be less than 5% occupied.
Its still early. After a long sale-less winter, prices will come down for real by the spring.
BTW, I paid over a $130,000 less, including the furniture and parking and a killer view, for my four year old unit in the “clunker bunker” (so-called in a Joe Zekas thread), on the same floor, same square block, with an operating HOA and almost 100% filled building.
are you in 330 Grand? Yes, much better deal there. I see a 2/2 with good views for 319Kish
Unit 1206 is listed at 319,500
1225 sq ft
great east skyline views
i like the mortgage calculator @ puts on the side of their listings. says i can buy this with an est. income of $94K, 5.2x income! it also assumes 0 taxes since they are “NEW”.
FYI assessments here don’t include heat and air
Wow … easily 100K off.
Yaaaaaaaawn…..another boring cookie-cutter highrise with oblong apartments shoehorned in with the regulation black-and-maple-and-stainless open kitchen.
Can this really fetch anything like the ask price when there’s such a big supply of the things out there?
Maybe so. At least this place doesn’t have concrete ceilings and open ductwork.
Silver Tower has 223, not 233 units.
You’ll get a good idea of the north and south views from Silver Tower in this YoChicago video:
http://www.youtube.com/watch?v=Uj905rEi1cA
Don’t miss the dramatic eastern panoramic view in this YoChicago photo:
http://www.flickr.com/photos/yochicago1/3813967243/sizes/l/
Click “Original” for a high-res version.
Anyone who’s spent much time on high-rise city balconies anywhere in the city knows that they’re all noisy. Soundproofing in most of the newer buildings is very good when you’re inside – the east side abutting the El is likely to be as quiet as the west side.
The building is not one of our advertisers.
Oh and that kitchen is frickin TERRIBLE! Talk about lack of cabinet space! I mean my condo isn’t the world’s greatest, but seriously… that kitchen is terribly small for a 500k place!
I believe 1206 doesn’t include the parking. Some of the other units in 330 West Grand, where we are, are priced much higher, in the 400,000s with and without parking. If they are the same size as mine on 18the floor they are priced pretty high. I probably overpaid in March since the couple was divorcing. We didn’t know that at the time. As it was, we paid $36,000 under the asking price, which was originally over $400,000 with the parking.
I’m not especially concerned since it meets our needs. The building is well managed and quiet. It has virtually no amenities except for a small gym, and the units themselves are not especially spectacular. HOA fees include heat and air-conditioning. The 24 hour door people are nice and to us worth the money. Security is important since we are not often in residence. Most 2+2s are supposedly 1226 sq. feet.
We bought it because of the location, and because of the views. We have a dead-on view of the Trump Tower. There are a huge number of bars, restaurants, and clubs (we don’t frequent the last two) in the area and lots of young people on the streets in the evening. Sometimes during the summer we can see the fireworks above the buildings, and we actually have a inch worth of Lake view.
Kitchen is a deal breaker. I would expect the fridge to fit into the cabinets better on a “luxury,” “upgraded” unit…
Developers still continue to use those hollywood style lights in the bathrooms…seriously?
I’m glad you guys (and gals) think the kitchen sucks and the unit is unimpressive as a whole. that was my impression but my gf really liked the place.
$90-100k off is probably the selling price, although I still wouldn’t want it for that price.
views are very nice though.
I went to view some units on the weekend. I was thinking of taking a unit on the side of the el, until i heard the train go by. Really poor effort of sound proofing in my opinion.
Overall i’m not soimpressed with tha quality of the finishes here it really is poor compared to competition. I see prices dropping even further in the coming months, so watch out for amazing deals…
Marco-
Although I am not a fan of the bathroom lights they are put in for the same reason hollywood puts them above mirrors in dressing rooms. They give off better light while putting on make-up.
My wife, who some years working for Lancome, and many other make-up wearing women I suspect, love them for that reason.
i was under contract to buy 2503 for $455k inc parking. luckily i’d added a clause to my contract specifying if the unit wasn’t delivered by july 1st, 2009 i could get out. the developer was about three weeks too late and i was very glad to get my 5% back. it’s a mediocre condo and should sell under $400k in this market.
Heating cooling units are pretty cheap and take out valuable space.
I’ve been on the east side of a unit in this building. Didn’t notice the sound from the train until it was pointed out to me. I thought the noise was blocked fairly well by the windows. I thought the units were nice, bedrooms were a bit small, but managable. The views are great though.
TJ i just bought in the 07 tier…did you buy an 03 or 06 tier and how much did you pay if you don’t mind me asking?
Has anyone heard anything more out of this building? It seems that listings have been selling for 30K less than the asking price. Would this be a good deal for r.north?
I recently looked at these units and was really disappointed. The person showing was rude and it seemed like she hated the building. She had nothing positive to say at all about it- just it was bankrupt, as-is, oh and the building was unoccupied for more then a year. The finishes didnt look too hot and wasnt too happy about any of the layouts. The views were good but thats about it.
Recently bought a unit.. Beautiful unit, view, and location..
What kind of pricing are the 2 bedroom units going for? Are the remaining unsold units primarily on lower floors?
It’s a nice building overall
this place is filling up, noticing MANY more lights at night than before i’d say up to 75% sold now probably