Renovated Hancock 2/2 Has Been Reduced $50,000: 175 E. Delaware in the Gold Coast
We last chattered about this completely renovated contemporary 2-bedroom on the 69th floor of the John Hancock at 175 E. Delaware in the Gold Coast in April 2011.
See our prior chatter here with the before and after pictures of the renovation.
Back in April, some of you simply didn’t like the Hancock at all but others considered it an icon and liked this renovation.
If you recall, this unit was bought in August 2010 and has been completely renovated with contemporary kitchen and bath finishes.
The oak herringbone floors are among the only original features remaining.
The kitchen has brown and white euro-style cabinets with Wolf and Subzero appliances.
This unit has a sky terrace (a built-in “terrace”) measuring 8×9 and several windows that actually open.
While there is no central air, there are wall units.
Until a few years ago, in-unit washer/dryers were not allowed but this unit now has the hook-ups.
Parking is leased in the building.
Buyers want “new” and this unit has that in spades.
The unit has been reduced $50,000.
Are they getting closer to the right price?
Andrew Glatz at Crown Heights Realty still has the listing. See more pictures here.
Unit #6910: 2 bedrooms, 2 baths, 1500 square feet
- Bought in May 1987 (no sales price listed)
- Lis pendens filed in February 2008
- Bank owned in January 2009
- Sold in August 2010 for $390,000
- Originally listed in March 2011 for $649,770
- Was still listed in April 2011 for $649,770
- Reduced
- Currently listed at $599,770
- Assessments of $1117 a month (includes doorman)
- Taxes of $6423
- No central air- wall units
- Washer/Dryer hook-ups in the unit
- Parking is leased
- Bedroom #1: 12×22
- Bedroom #2: 14×11
- Sky terrace: 8×9
I like the renovation, and I honestly did not know that there were operable windows. Cool unit but I wouldnt want to live in the same building that I work in.
“While there is no central air, there are wall units.”
Is that a big downside v central air?
confident they are getting closer to the right price
Wrong side of the building. If you were going to pay to live in the Hancock, wouldn’t you want unobstructed views?
I’d pay a little more for the unit below, which is on the preferred north side of the building and two floors down. The decor is also better:
http://www.trulia.com/property/3001598099-175-E-Delaware-Pl-6704-Chicago-IL-60611
“confident they are getting closer to the right price”
Cue bizarro HD in three … two … one …
I used to have an office in my building and loved it. The upside an was more interaction with my employees on a personal level. My wife frequently was surprised by me bringing down employees and customers as guests for dinner!
The downside was that my employees knew that I lived there and often called me and asked me to go up and check for A fax etc. At all hurs of the day.
DZ:
Wall units are fine. We had them in the high-rise condo we lived in and they work great.
The problem with high rises is that you have no control over when the building switches from heat to AC in the spring and from AC to heat in the fall. At least that was the case in our condo building, which was built the same year as the Hancock.
i had no idea there were functional windows in the hancock. that’s a HUGE upside… because otherwise i would not go for the bldg.
i had no idea there were functional windows in the hancock. that’s a HUGE upside… because otherwise i would not go for the bldg.
functional as in you can see out of it?
Is a price tag of less than $600,000 really too much to ask for 1,500 sq ft of space in one of the most iconic buildings in the world, up in the sky, on the 69th floor, completely remodeled with the world at your fingertips? I don’t think so – it hasn’t been this cheap to get into the Hancock in years. Hell, I’d buy this myself if money weren’t and issue and I also need a small yard for a playset. This screams buy buy buy. Some trader or financial hot shot bachelor can make a big trade, secure a $150,000 down payment and live here all with a conforming mortgage. Cue swinging and playful 1960’s bachelor pad music. Is a little over $3,000 a month too much to ask to live in the sky? Is it really? I don’t think so.
“The problem with high rises is that you have no control over when the building switches from heat to AC in the spring and from AC to heat in the fall. At least that was the case in our condo building, which was built the same year as the Hancock.”
I had this in a circa 1990 apt high rise I lived in. Definitely not ideal. But not the case for newer buildings, right? At least the fancier places? Also, I was assuming the wall units here were actual AC units rather than blowers, b/c otherwise wouldn’t they be central AC?
Used to live relatively close to here. Nice and definitely convenient area, at least pre-flashmobbing.
Move this unit to NYC and you would pay well, well over a million for it. Hell, the fictional Bud Fox in Wall Street $950,000 to live in St. James Tower in Manhattan’s Sutton Place neighborhood in 1987, and those units sell for $6,000,000 today.
This unit, remodeled, is less than 1/10th of the price. STEAL.
http://online.wsj.com/article/SB10001424052748703384204575510102784570116.html
“The problem with high rises is that you have no control over when the building switches from heat to AC in the spring and from AC to heat in the fall.”
Not true in modern 4 pipe system high rises. Obviously AC isn’t going to be turned on in the middle of winter, but in 4 pipe systems both heat and ac is being run at the same time when the seasons change. (don’t buy a south facing unit in a 2 pipe building, that gets rough)
“I also need a small yard for a playset”
Pool in building and playground across from south side of ritz carlton.
Let me look at my budget, and my bank account balance, to see if I can swing this monthly payment.
“DZ on July 18th, 2011 at 10:50 am
“I also need a small yard for a playset”
Pool in building and playground across from south side of ritz carlton.”
I did my budget and I’m $2,468.12 a month short on the PITI+HOA. I’ll rerun my budget figures again after my collectively bargained 4% raise goes into effect early next year. I hope it’s not too late!
HD, good luck on that negotiated raise, everyone else is loosing their contracted raises….I know I am. 🙁
i think i asked it here man times over and yet it still hasnt sunk in.
Is it a pain for the two elevator residential system?
Do you ever get used to that steep parking ramp?
Do the tourists outside your door get annoying?
They do have a nice in-building market somewhere around the 50th floor. I have a friend who is a vegetarian who owns a unit in the building and the market has accomodated to resident’s requests with the products they stock on the shelves.
“I did my budget and I’m $2,468.12 a month short on the PITI+HOA. I’ll rerun my budget figures again after my collectively bargained 4% raise goes into effect early next year. I hope it’s not too late!”
I was commenting only on your claimed need for yard. Don’t get trapped into the small town SFH mindset. But also don’t forget all the savings with ogden school.
“Is it a pain for the two elevator residential system?”
I had a two elevator system for a while at my office. Really hated it. Is it definitely two elevators here? The offices are single elevator, I’m pretty sure.
“Do the tourists outside your door get annoying?”
Not much tourist traffic right outside the entrance on Delaware. Whether the michigan ave crowds bug you or not, I think really depends on your preferences and tolerance for these things. You know what the crowds are like. I will say it’s pretty easy to avoid the worst of it if you’re don’t stay on michigan.
It is definitely a two-elevator system. The first is direct from the Delaware lobby to the 44th floor (the level where the pool, workout room and grocery store are). The second elevator gets you up to your apartment.
There are two sets of elevators from the 44th floor. The first, if memory serves, is for floors 45-66, and the second is for floors 67-92. I think there are at least two elevators for each set of floors, but it’s been a while since I’ve been in the building.
I looked at a place here about 10 years ago. I wasn’t too impressed. It was on the NE corner, around the 55th floor, but only the master bedroom had the celebrated north view. Seemed poorly planned.
I’ve always had a soft spot for this building, though. The views really improve above the 75th floor. If you’re looking north in the high 70s, 80s or 90s, it really feels like you’re in a plane. If you love views, it doesn’t get any better.
Anon(tfo): the world’s most awesome house next to the Irving Park on ramp has been rehabbed and released into the MLS for purchase. Check her out:
http://www.redfin.com/IL/Chicago/4108-N-Keeler-Ave-60641/home/13479782
“Don’t get trapped into the small town SFH mindset.”
If I worked in this building, I would love to buy a condo in it too. Between the grocery store and restaurants, I would never have to leave the house.
Dan #2 is right on- I would go for the one with the north lake views.
HD – I do like that Irving park home but seems like this might be just a bit over improved for that exact lot. BTW how do they expect to flush those sideways toilets that were mounted on the walls.
This is another example of an honors student turned RE agent. Nice job!
I agree Hancock is one of the coolest/most iconic buildings in the city. if you stand next to it and look up it is like something from the movie Batman. watch out for window washer baskets though.
I wonder if they will have the faux ice rink again this year.
That was really lame. Saw that installed on a cruise ship and it looked like a disaster. NEver got the connection for placing that on an OB deck. They must have thought that they needed something to compete with the new glass cube box protruding from the Sears Tower skydeck.
Wait they do have something…… a much better view!
“Anon(tfo): the world’s most awesome house next to the Irving Park on ramp has been rehabbed and released into the MLS for purchase. Check her out:”
That’s great!
Is the triangle b/t Keeler and the ramp part of the R-o-W, or could you add that to your yard?
No alley access, but an awesome gravel driveway off the curbcut.
Outrageously over-improved for the location. I’d have a hard time justifying it to anyone at $200, nevermind $400.
Man I really like the master bath and kitchen in this place
“The problem with high rises is that you have no control over when the building switches from heat to AC in the spring and from AC to heat in the fall. At least that was the case in our condo building, which was built the same year as the Hancock.”
Doesn’t the Hancock have individual electric heat/ac rather than a centralized system (aka two/four pipe systems)?
I worked for an ad agency in the building in the ’70s. The creative director lived in the building on the 50th floor…he was always late to work!
I once considered combining both 4108 and 4112 as foreclosures and for less than 200k i’d have a 75×150 foot lot on the northside. Next to an onramp yes, but you can’t have it all in life.
The weird thing about my profound change is that for years my wife has been convincing me to stay in the sub 1000 a month 2 bed apt and im the party who was always looking to buy; but now, in the last month the wife is like” I really really really want to leave this apartment and buy a house” and im the one saying” its too expensive to live in the areas we want to live so let’s just continue renting for a few more years. ” this conversation was like earlier tonight. Its bizarro world around the hd household. We live in troubled times.
“The weird thing about my profound change is that for years my wife has been convincing me to stay in the sub 1000 a month 2 bed apt and im the party who was always looking to buy; but now, in the last month the wife is like” I really really really want to leave this apartment and buy a house” and im the one saying” its too expensive to live in the areas we want to live so let’s just continue renting for a few more years. ” this conversation was like earlier tonight. Its bizarro world around the hd household. We live in troubled times.”
If you’re being serious, why not spend a little more on rent, like $1200 or $1300 a month (or whatever needed, I know you may be below market rent at moment, but there may be similar deals elsewhere for a responsible tenant). You’d be spending a little more, saving a little less, but not committing to buying yet if that’s of value to you. And you’d be living somewhere nicer.
Logan close to blvd is seriously an excellent place with a baby/toddler and for your other requirements.
“The weird thing about my profound change is that for years my wife has been convincing me to stay in the sub 1000 a month 2 bed apt and im the party who was always looking to buy; but now, in the last month the wife is like” I really really really want to leave this apartment and buy a house” and im the one saying” its too expensive to live in the areas we want to live so let’s just continue renting for a few more years. ” this conversation was like earlier tonight. Its bizarro world around the hd household. We live in troubled times.”
I do agree with Clio on one thing- most people can only take being renters for so long. Maybe she wants a backyard or whatnot. And most rentals are not the same quality as a for sale property. So I don’t blame her for wanting to move.
Maybe you will have to change the area you want to live in? That is the reality for most people. They will choose location- over other things.
HD… you’ve done everything right so far. I have a funny feeling when you do pull the trigger you get it again.
“HD… you’ve done everything right so far.”
wait – how has HD done “everything right so far” and I’m the idiot on this site – yet HD is living in a “sub 1000/month rental” and I own several properties. This IS bizarro world.
Apples and oranges, Clio. Apples and oranges.
Clio.. his ear just seems better to the track than yours is. Nothing personal. Just cause the king has a castle doesn’t make him always correct.
“wait – how has HD done “everything right so far” and I’m the idiot ”
i never called you a idiot. i will call you a shill and a man that doesnt stand behind his words