Recently Gutted and Impeccably Rehabbed: 3-Bedroom at 21 E. Huron in River North
This 3-bedroom in The Pinnacle at 21 E. Huron in the Cathedral District in River North came on the market in May 2023.
Built in 2002, The Pinnacle has 213 units and attached parking.
It’s a full amenity building with 24/7 door staff, an indoor pool, jacuzzi, steam room, sauna, exercise room, wine storage cellar, a private movie theater, a reading room and several shared patios.
The listing says this unit is a “rarely available” 03 tier with unobstructed east and southeast city views.
The listing also says it was “recently gutted and impeccably rehabbed.”
It has new dark oak hardwood floors throughout, including in the bedrooms.
The chef’s kitchen has been “redesigned” with frameless cabinetry, Subzero 42″ Classic French door refrigerator, a 2nd Subzero 2 drawer refrigerator/freezer for extra temperature controlled food storage.
The countertops are polished Vicostone Bella Blanco with WAlker Zanger porcelain and marble backsplash, a Wolf 48″ stainless steel dual fuel natural gas range with 6 burners and an infared griddle. Above the range is a stainless steel built-in range hood with iQ12 blower system to ensure clearance of all smoke and odors.
The primary suite has a walk-in-closet and a “redesigned” custom bath with a walk-in-shower, dual vanity, and an elevated tube with award winning Billie Ombre backsplash.
There’s another full bath for the two other bedrooms.
The unit has a foyer and other features buyers look for including central air, washer/dryer in the unit and garage parking is available.
It also has 2 balconies with city views.
This building is in the eastern portion of River North, in the Cathedral District, near shops and restaurants, Trader Joe’s and Whole Foods, the Mag Mile, a movie theater, the Starbucks Reserve, the Eataly Market, and also the new Bally’s Casino.
Listed in May 2023 for $1.495 million, it has been reduced $150,000 to $1.345 million.
At 2100 square feet, and rehabbed, is this a deal?
Christian Griffin at Canzell Realty has the listing. See the pictures here. (no floor plan)
Unit #1603: 3 bedrooms, 2.5 baths, 2100 square feet
- Sold in November 2004 for $979,000
- Sold in October 2012 for $1.1 million
- Originally listed in May 2023 for $1.495 million
- Reduced
- Currently listed at $1.345 million
- Assessments of $1831 a month (includes a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, scavenger)
- Taxes of $21,809
- Central Air
- Washer/dryer in the unit
- Parking is available (it doesn’t say how much)
- Fireplace
- Bedroom #1: 15×16
- Bedroom #2: 16×12
- Bedroom #3: 11×16
- Living/dining combo: 23×25
- Kitchen: 16×12
- Foyer: 6×7
- 2 balconies: 10×6 each
Looks nice. Would have been good to install a cabinet door system when they redid the fireplace wall, to hide the tv (and a much larger one at that). A few night pics would be helpful.
50% more SF available for ~10% more:
https://www.redfin.com/IL/Chicago/21-E-Huron-St-60611/unit-3503/home/12648121
Looks pretty much original.
or 20% more SF for $50k more:
https://www.redfin.com/IL/Chicago/21-E-Huron-St-60611/unit-3204/home/12568174
Also not updated.
Floorplan available here:
https://www.redfin.com/IL/Chicago/21-E-Huron-St-60611/unit-2203/home/12648148
Also looks basically original. Sold for $1,082,500. Which included *2* parking spaces.
Is this place $300k “better”?
Over $11k monthly nut for this place? Pass. I do like the backsplash and mosaic tiles around the tub.
Have they considered dropping the price by a million and taking a 50%+ loss? Because that may be what it takes to sell in Chicago.
https://www.zillow.com/homedetails/21-E-Huron-St-APT-4701-Chicago-IL-60611/70469777_zpid/
$1.3 million is a lot and I don’t see much here that stands out from typical less expensive units in the neighborhood.
“$1.3 million is a lot and I don’t see much here that stands out from typical less expensive units in the neighborhood.”
Um…what would a brand new with similar square footage go for in this neighborhood? What are they charging in One Chicago, for instance?
Double this price.
It’s gorgeous and you don’t have to do anything but move in. Love the two balconies. Great views looking south.
“Have they considered dropping the price by a million and taking a 50%+ loss? Because that may be what it takes to sell in Chicago.”
Boy, it must really suck to be stuck inside in August with those 105 degree heat indexes in Florida and have nothing better to do but come on a Chicago housing blog and post random links to penthouses that aren’t selling.
Ba ha ha. Stacy, you crack me up. You miss Chicago so much. It’s okay. You can move back at any time.
“Is this place $300k “better”?”
Once again, there is little understanding about what it takes to gut a high rise condo unit. The cost, the time, the difficulty. Has no one watched Windy City Rehab? Allison Victoria did a high rise rehab. It sucks.
So, yeah, it IS $300k “better.” And then some.
“Is this place $300k “better”?”
The other listing, 2203, didn’t even show pictures of the bathrooms. Good luck. So, again, I say, “yes”. A thousand times yes.
“50% more SF available for ~10% more:”
Only east views. So it will matter to each particular buyer what they prefer. North is usually the cheapest though.
Also, 99% of people, even rich people, have no idea how to do a full rehab. Nor do they want to do one. If someone can get a “deal” then it makes some sense but is this unit a deal?
There is a lot of inventory in River North at this price point. Gotta compete.
I’m tired and going to bed early tonight. There are still some interesting properties coming on the market so I may do a post in the morning.
Some food for thought:
We are entering into the slower fall period with mortgage rates above 7% and heading towards 7.5%. Inventory remains near record lows in the GreenZone (outside of downtown).
Lincoln Park currently has 239 properties available. It has been under 300 all summer. When a property comes on, it’s selling fairly fast.
Lakeview has 269 properties
Bucktown has 72
Wicker Park has 49
Andersonville has 28
West Loop has 147
Inventory is even tighter depending on price point. In the West Loop, there are just 17 2/2 properties under $500,000. If you want a 2/2 under $500k in Andersonville, you are out of luck. There are NONE available. In Lakeview, there are just 39 properties.
No wonder everyone is renting. It’s just so much easier. Much more to choose from.
“what it takes to gut”
They didn’t even change the shape of the kitchen peninsula.
There was no gut. Not even a “gut”
“penthouses that aren’t selling”
That one sold.
I don’t think the family was too worked up about the loss, tho.
“They didn’t even change the shape of the kitchen peninsula.”
it’s different though. no longer bar height with a weird drop down. it’s all counter height which is much better now.
“much better now”
It’s definitely much better, in many ways.
The double doors to the 2/3 beds is a really nice touch, too.
Still not a “gut”. “Realtor gut”, maybe.
“There was no gut. Not even a “gut””
There aren’t some new bathrooms in this unit? New flooring? New appliances, cabinets and countertops?
Yeah, just as I thought. You’ve never done a gut in a high rise anon(tfo). Can take months.
You’ve diluted the term “Gut” to the point that its meaningless
see “Chefs Kitchen”
“You’ve diluted the term “Gut” to the point that its meaningless”
THIS!
“You’ve never done a gut []. Can take months.”
It better fucking take months to do a gut reno.
Looking around my neighborhood at the gut reno projects, I’s say the *median* time is 10-12 months.
If a gut in a high-rise only “can” take months, then that’s (1) either faster than typical for a gut reno, or (2) it isn’t *actually* a gut reno.
“If a gut in a high-rise only “can” take months, then that’s (1) either faster than typical for a gut reno, or (2) it isn’t *actually* a gut reno.”
Depends on your definition of “gut” right? Are they replacing the wiring, plumbing, drywall? This is a newer building. Unlikely need to do that stuff so soon. But if they have replaced all the floors, lighting, kitchen and baths, I’d say, for many people, that would be a “gut.”
Also, renovation time depends on how big the unit is and what else is going on in the highrise in terms of projects. Also availability of your own contractor and supply chain issues.
But then, you knew that anon(tfo).
“You’ve diluted the term “Gut” to the point that its meaningless”
The listing used “gut”, not me.
“Informally, people often use the term gut renovation to mean a complete remodel in which every surface, appliance, and fixture is upgraded. However, a true gut renovation involves stripping down interior walls, reworking plumbing and electrical wiring, plus much more.”
https://www.gallerykbny.com/post/cost-gut-renovation-nyc
Every person will have a different answer as to what a “gut” means. A contractor would tell you it must include the wiring/plumbing and even structural changes. A layperson would tell you that it just means they renovated everything in the interior.
“Depends on your definition of “gut” right?”
Yeah, that was the point.
Closed 1.125
Ooof
“Closed 1.125”
Thanks David. What a deal for that buyer.
It’s just SO difficult in the downtown market right now. Still too much inventory and River North is just out of favor with many buyers.