Ride the Private Elevator to Your River North Penthouse: 319 W. Erie
This 3-bedroom penthouse at 319 W. Erie is in a unique boutique building in River North.
Built in 1888, the building was converted in 2007/2008 and has 7 units.
This penthouse has luxury finishes including private elevator access, Snaidero cabinets in the kitchen and a private wine room.
It also has 12 foot to 14 foot ceilings and two outdoor spaces.
There is 4 car parking available.
The unit was recently reduced $500,000.
Cara Buffa at Prudential Rubloff has the listing. See more pictures and the virtual tour here.
Penthouse: 3 bedrooms, 2.5 baths, 4200 square feet, 4 car parking available
- No original sales price. Still developer owned.
- Listed in April 2010 for $1,999,999
- Reduced in September 2010
- Currently listed at $1,499,999
- Assessments of $500 a month (includes cable, security system)
- Taxes of $6800
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 25×21
- Bedroom #2: 22×13
- Bedroom #3: 18×18
Stunning!
what’s with the price jump from ’07? did they remodel. I would pay ’07 price
I want.
AWESOME place – low taxes and assessments. I would/will definitely buy this place for 1million.
looks great. Nice!
The taxes look really low, which is appealing, but I assume they’ll increase. May be the historic preservation rate (I’m not too knowledgeable, but they lock in old assessment for possibly 10 years). Seems like taxes should be 2 or 3 times that?!
Notice how they don’t show a picture of the view from the roof deck…
Also I wonder how is the noise factor since the brown line is decently close.
looks nice enough.
This goes for more than 1mil.
This unit not as nice in real life. The “third BR” is really that sun room beyond the french doors in the 2nd photo.
I don’t think there is a roof access from my recollection… I recall a deck off the kitchen.
Assessments aren’t that low. You get virtually nothing for those payments (no gym, no doorman, not heat, etc.). This isn’t a comp to other assessments.
“Also I wonder how is the noise factor since the brown line is decently close.”
I think the el noise is minor compared to the feeder ramp noise, but maybe that’s mistaken.
I predict sonies will like cara buffa
This building has a remarkable facade, I noticed it awhile back while walking the dogs.
I love this place and agree with chicagoer, definitely pay ’07 price. The realtor is yummy too. They must have done the remodel to justify the 1,194,999.00 original list price, IMHO.
This building was a high end gut rehab/new development. I doubt anything was done to the unit since it was bought as they were all high end. I remember when it was originally on the market. The only bad thing about the units is that the ones of the west side of the building look out towards the feeder ramp of 90/94
Beautiful units but the views don’t seem all that great (notice lack of outside views).
As someone who lives on the 400 block of Ontario, I can say for sure the el noise will be much greater than the feeder ramp noise. The only time I really notice feeder ramp noise is with the windows open in summer when jackasses in motorcycles floor it after the light.
The facade of this building is indeed lovely. I admire it from the screechy, screechy brown line as I screech by.
It’s half a block away, though, so maybe the noise isn’t so bad.
I’m a little disappointed that the interior doesn’t have more vintage elements (the facade sets some high expectations in that regard), but if you like an open floor plan, this place is amazing and beautifully done.
If that square footage is accurate, this is in the ballpark, IMHO.
Assessments may not get you much in terms of amenities but compared to the purchase price and the small number of units in the building, they’re reasonable. LOVE the 4 car parking.
I like this place a lot.
2007 price must have been for raw space only.
Wait a minute – with a monthly payment of 7600 (assuming 5% mtg w/20% down) – your payment would be 7600/month – why wouldn’t someone just rent a place instead (you would also save your 200k downpayment)!!!
The $805,000 9/07 purchase price was most likely raw space and/or a non arm’s length sale. The buyer might have been connected to the developer. The buyer financed the purchase with loans for $2.6M and $153K. The purchase did not appear in the mls. The listing history:
listed 9/20/2006 at $2,399,000 expired 3/20/2007 after 182 days
listed 7/23/2007 at $2,800,000 cancelled 1/29/2008 after 191 days
listed 3/7/2008 at $2,800,000 cancelled 7/9/2008 after 125 days
listed 4/27/2010 at $1,999,999 now $1,499,999 after 191 days
2 or 4 parking spaces were included in the previous listings, the current listing has 4 spaces available for ? extra.
Clio math fail.
$1.5MM * .8 = $1.2MM
$1.2MM @ 5.0 over 360 = $6442/mo.
Even at the beginning of the amortization $1500 is going to principal, so plan on a true cost of $5000/mo minus your tax savings (which is substantial)
Bradford, You missed the assessments and taxes. Taxes that are based on a massive underassessment at $444,280 market value with no exemptions.
“why wouldn’t someone just rent a place instead (you would also save your 200k downpayment)!!!”
And put their lives on hold? You underestimate the psychological benefits, clio.
He said PMT, not PITI.
Grand and Orleans here. The noise from the Brown line is more substantial. but hardily problematic on the 18th floor, than the Ohio St. ramp except for the damn motorcycles. Views count. At that price you should have a stunning view.
“I predict sonies will like cara buffa”
haha I believe i have seen her before and like a fine wine some get better with age
I live in the building behind this and always wondered what the units are like, this place is absolutely amazing.
Problems with this unit would be Spy bar/hop haus next door and the noise and crowd related with that, and the rooftop deck has only north and eastern exposures, while still nice, it would suck to have the JJpepper building blocking lots of light from the south and another unit’s rooftop deck to the west blocking your view. Also there would be some El noise, but not too much to be annoying. The street here is also kinda dark with a parking lot to the north and also one right outside your window to the east. Although being practically across the st. from Mr. beef and the green door is real nice.
Also @ anon there is no feeder ramp noise here… thats ontario st. unless you get a pack of harleys (aka assholes) you won’t hear anything really at this location
I don’t like it, and think you could do MUCH better at this price. To each their own I guess.
“Bradford, You missed the assessments and taxes.”
“He said PMT, not PITI.”
Yeah but he was comparing to monthly rent and his math seemed to be correct for PITA. Or, for a PITA. Both work.
As a week-end in town maybe/ as a full time home never. The finishes are cold and sterile and would not lend themselves to anything but minimal and very high end furnishing/ thus for entertaining and not for “living”
Love it. Would have to see the views/hear train noise etc. but I would probably buy it if I could get it for 1.1.
If you would “love it” and would buy it if I could get it for……
MAKE an offer! Im not the owner, realtor, or someone who has any interest in the place but I’d say make an offer. In this market who knows what will happen!
THANK YOU for all of the positive comments about this fabulous listing. I want clarify a few things. This home has tons of natural light from four sides of windows and the el sound is barely audible. Also, this is a National Historic Landmark.
This is the developer’s personal home and was built as new construction on top of the original 1888 building. We did have this on the market in 2007 and had offers well over 2mm, but the developer decided to keep the property.
If anyone has questions about this listing or any other property, please contact me at cbuffa@rubloff.com.
One more thing. This unit was never sold for $800,000 in 2007. In fact, it has never changed hands.
There are six other units in the building that we sold originally and the lowest price was approximately $850,000 for a 2500 square foot unit. The average price for that square footage in the building was well over 1mm.
Not to be petty…but when will people stop installing the stupid “box that was dropped off in the middle of the room fireplaces”. I don’t get those! Not at this price-point.
Beautiful.
Update for all you Chatterers: http://yochicago.com/choice-cuts-assumption-school-penthouse-cut-by-31-over-9-months/19293/
Unit is now down to $1,375,000 and has a new agent attached to it.