Renovated John Hancock 2/2 on the 69th Floor Reduces Again: 175 E. Delaware
We’ve chattered about this renovated 2-bedroom in the John Hancock Center at 175 E. Delaware in the Gold Coast several times in 2011.
See our last chatter in July 2011 here.
This 2-bedroom has been completely renovated with contemporary kitchen and bath finishes to bring it up to today’s standards.
You can see the before and after pictures of the renovation in our April 2011 chatter here.
Many consider the Hancock to be an icon and a lot of you liked this renovation.
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” especially in a building that was built in 1968.
The unit has been reduced $89,000 to $560,770.
Would this unit make a good in-town at this 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
- Was listed in July 2011 at $599,770
- Reduced
- Currently listed at $560,770
- 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
This is a decent looking condo considering the comparisons in this building, which are often in terrible shape. Unfortunately, it’s on the wrong side, looking right at the Ritz Carlton. As I’ve said before, if you’re going to live in the Hancock, you’re paying for the view, so you probably should have a view. The north side of the building is the side with the picture postcard views up Lake Shore Drive. Unless you’re well above the 80th floor, your southern view will be obstructed by the place next door.
Yeah, with no view, you are just paying for location (and there are better options in this neigborhood) and a long elevator ride and long security lines at parking.
I wonder if Dan and a local have actual seen the view from this unit. The south side of the Hancock has a great view of the Chicago skyline and its beautiful architecture. I prefer it to the North view, and at night there is no comparison.
Yes, the lake view is partially obstructed at this floor level, but overall the view here is much better than most other buildings in Chicago, and certainly than other buildings in Streeterville, River North Coast, at the same price point.
In addition to the view, the location, and the quality of the renovations, you are paying for the amenities – a supermarket on the 44th floor, a large indoor pool on the same floor, plus Bank, stores and several restaurants in the building.
The Hancock is not for everyone.
I live here myself and love it.
Unbelievable that a prime high rise was built without C/A as late as 1968. I was a youngster then, and our distinctly lower-middle-class suburban-style new apartment had central air and all the latest gizmos of 1968. I also remember the Hancock being opened with great fanfare- it made the national news- and all the celebs who got in line for a place in this building.
The apartment still has a 1960s feel to it despite the upgrades. It does have nice, large rooms and the location is the best. But I have a feeling you can find a better deal even in this choice neighborhood.
price is steep. nice interior though, and Hancock is a favorite. still waiting for chichow to get me into the potash
talking about chasing the market down. I was under attack in April saying this is over priced. Now look at where it is priced at.
I can’t look at this building and not think of Chris Farley.
What is a sky terrace?
Similar to a loggia.
OUCH – It has a DIAGONAL (albeit a small one) in the living room, which is a “deal breaker” for many if not most prospective Hancock residents.
If the windows are even slightly “openable” and the window a/cs (and maybe ceiling fans) are working properly, you really don’t need central air in a residence this close to the lake. Can you say “Cooler near…” boys and girls?
5 degrees, at most?
Maybe 10?
You really don’t “need” central air, any more than you “need” any other amenity such as high end appliances or large baths or an indoor pool/spa.
It’s just that there’s a certain level of amenity that you expect a “prime” or “luxury” building built in the modern era to have, and central air has been considered to be pretty basic since the mid-60s.
I don’t expect it in the low-priced 20s vintage units that I’m looking at, but then I’m not paying anything like $500K for my place and don’t expect the same amenity and luxury I would if I were paying that much to live in a “prime” downtown high rise.
I’ve been in units with and without the diagonal. Didn’t bother me either way. Actually, the diagonal is at nice angle to sit and lounge and read.
Not having central air also didn’t bother me. It’s not a small noisy wall unit. And like many high rises, being surrounded by other apartment units meant that in the winter, I really didn’t have turn on my heat at all.
The windows open. They have safety locks to prevent you from opening them all the way, but in my unit the locks were not functional.
The sky terrace is like an enclosed balcony.
Its been quite a while, but I don’t recall long security lines for parking.
@CH
No no no. We need to keep the proletariats out. Most sorry 🙂
Oops
or would it be proletarians in this case?
Forgot to mention, I preferred the enclosed galley kitchens in the original configurations.
Chichow – Thanks for backing me up on this! Not EVERYONEINTHEWHOLEWIDEWORLD loves them some open kitchens! In fact, some ethnic groups, if recently arrived from the “old country,” frown upon them because back home that’s how the “poor people” live! An enclosed kitchen is an upscale luxury in many parts of the world.
Whatever happened to the concept of “choice?” You know, the builder would give prospective owners a “choice” of open or enclosed kitchen; “choice” of carpeted or bare-floor rooms; “choice” of laminate or granite kitchen counters, etc.
Sorry for the “rant” but sometimes it seems that we haven’t come all that far from the early 60s culture celebrated in the song about houses “all made from ticky-tacky and they all look just the same.”
“Whatever happened to the concept of “choice?” You know, the builder would give prospective owners a “choice” of open or enclosed kitchen; “choice” of carpeted or bare-floor rooms; “choice” of laminate or granite kitchen counters, etc.”
Usually if you buy in early enough pre-construction you have these options. Sure, you may have to pay extra for it but the option is there. Kitchen layout may be a little more problematic and costly as it’s more efficient to stack units on top of each other with similar layout (no re-routing of plumbing, waste lines, etc.).
what about management or ownership of the building
what kind of financial shape are we talking about
and the market still has a huge fall down left in it
you cant have the spending of the gov w/o having to pay for all the “freebies”
@danny…Chris Farley? How about Carol Ann in Poltergeist 3…
$260k bump from Aug ’10 to Mar ’11???
Taxes seem low and assessments seem high.
Ok, I missed the reno — still, I don’t see even the $170k in extra value their asking now.
Regarding the assessment.
Its a 2 bedroom in a full service building. Dry Cleaners, Grocery Store, Doorman, a REAL pool with a deep end – The pool is better than say the Park Hyatt pool for example.
And again FWIW I never used my heat at all in the winter time. Not once.
—
Typically there are maybe 5%+ of units for sale in the building. The units will vary wildly in price and finishes depending on when the unit was updated or if it was updated at all.
Built in the late 60’s, many of the original owners are *ahem* moving on.
If you don’t like a reno job and really want to live there, just pick your tier and units and there will be estate sales going on for quite a while.
My local contact there is in his 80’s.
Chichow,
Having lived in the building, would you recommend it for someone who wanted to have a weekend place in the city? And what tier would you recommend for a 1 BR or 2 BR?
Thanks.
@Dan
Softball question.
Really depends on what you want in terms of an in-town.
Like the hustle bustle? Head out the building West towards Mag Mile.
Hate the tourists? Stay on Delaware side vs. Chestnut side. Head East and go down Dewitt.
How often are you there? Do you drive in? Do you want to pay for parking on a monthly basis? Or as part of your assessment e.g. you own the space. Or in since you are there for the weekend, just park the car in there and just leave it there till you leave…
Do you care about views? just too many things YMMV without stated criteria like the unicorn criteria
Chichow,
Thanks for the reply. I’m not really focusing on the logistics yet, because this is years out. So stuff like parking is a little too nitty-gritty for me to be worried about as of yet.
I think I pretty much know what I want – a 2 BR on a high floor with north views. The problem is, as far as I can tell, you can’t get a 2 BR above about the 60th floor. And 1 BR are available higher up, but they mainly face east or west. Am I right?
W-Chicago,
I agree the south view can be magnificent, as I’ve been up to the observatory. Is that your view? I just figured below about 80, the Ritz gets in the way, especially on the eastern half of the south side of the building.
And for those who live there, another question: I get the feeling this is an “old person’s building” that’s not been kept up as well as some others and doesn’t really compare in appointments and luxury to newer buildings in the area. I lived in a Lincoln Park highrise built in the same era (a 40-story built in 1969) and definitely had some issues with it, though I liked living there for the most part. I imagined the Hancock would be similar. Let me know if I’m wrong, and also if I’m wrong about the old person aspect (not that I’m against the elderly, but I wouldn’t want to live in a place that seemed like it was all people over 60).
My wife is concerned about the noise the building makes when it’s windy, as we had that problem in our old building.
I’m just interested in any observations you may have about the building from living there.
Thanks.
I don’t know the layouts to that degree. You’d want to find an agent that works the building quite a bit to get that type of info. Sorry 🙁
I did see quite a few Seniors. There’s no denying that. And very little in terms of kids. The kids that are there tend to be primary school or younger. No teens. Then you skip young adults in their 20s
The building feels well maintained. It really does. I don’t think you should worry about building maintenance.
The building will move with high winds / you feel it more when you are in the 70’s and up vs. in the 40’s / there is some creaking which you mainly hear at night when the ambient sound level is its lowest.
OT: Then again the teens you see in Streeter are mostly visiting vs. living there.
“I think I pretty much know what I want – a 2 BR on a high floor with north views. The problem is, as far as I can tell, you can’t get a 2 BR above about the 60th floor. And 1 BR are available higher up, but they mainly face east or west. Am I right?”
“And for those who live there, another question: I get the feeling this is an “old person’s building” that’s not been kept up as well as some others and doesn’t really compare in appointments and luxury to newer buildings in the area.”