The Classic Vintage Gold Coast 1-Bedroom: 1450 N. Dearborn
There’s something about the vintage buildings in the Gold Coast that can’t be found anywhere else in the city.
This 1-bedroom unit at 1450 N. Dearborn has recently been renovated but kept many of the vintage features of the building which was constructed in 1877.
The kitchen and the bath were completely redone with the bath having such finishes as a Jado faucet and a Duravit sink.
There’s a washer/dryer (visible in the pictures of the kitchen) but no central air (only window units) and no parking (rental available nearby.)
But for vintage lovers, they just don’t build them like this anymore.
Emily Sachs Wong at Koenig & Strey has the listing. See the pictures here.
Unit #3A: 1 bedroom, 1 bath, 1000 square feet
- Sold in April 1989 for $135,000
- Sold in September 1999 for $219,000
- Sold in October 2004 for $300,000
- Currently listed for $399,000
- Assessments of $340 a month (includes heat and water)
- Taxes of $5402
- Washer/Dryer in the unit
- No central air- window units
- No parking (rental next door for $205 a month)
- Bedroom: 15×15
- Living room: 24×17
- Kitchen: 13×10
- Other: 10×7
Anybody else notice the washing machine in the kitchen. Tacky.
Other than being on the 3rd floor this looks like a great alternative to a nursing home.
“Anybody else notice the washing machine in the kitchen. Tacky.”
No, it’s “euro”. That’s a genuinely european style kitchen–washer often in the kitchen.
too expensive…maybe 300K…maybe
not my cup of tea, but pretty.
definitely a market for this
mmmmmm $400k an no parking, no central air, a washing machine in your kitchen, 1+ den and 1 bath… jesus no! Especially since its over 33% more than the 2004 price…
wow, i think this is gorgeous; love the bar especially. what’s with the taxes, though? listing doesn’t mention HO exemption.
presumably improvements are already factored into 2004 price, which doesn’t bode well for current ask.
listing also mentions special assessments…uh oh
“listing doesn’t mention HO exemption”
Do you see that often? I don’t.
Listing does mention “Monthly special assessment of $103.76 to build the reserves.”
The taxes reflect a HO exemption.
The taxes reflect a HO exemption.
They are also wrong. 2008 taxes paid were $5,615.60
where is the market for this? the bachelors that are content in this small of a space can’t afford it. i really just don’t get 1,000 sqft in areas like the gold coast. seems like rental property for the transient.
i’m just basing off of public sites like redfin, which now usually list exemptions (HO, Senior) under taxes.
Well decorated unit, but seems a bit over priced to me. I don’t care if it was on the Platinum Coast, $400k for a place with 1/1 with no parking, no central air is nutso.
“$400k for a place with 1/1 with no parking, no central air is nutso.”
But it goes up by 33% every five years. And it’s done that since 1989. You’ll be able to sell it for $535k(!!!) in 2014.
“Well decorated unit”
I thought so too until i got to the black and white stripes
I’ve been surprised before at renters that I have had in the past and how they can get away without a car (not my style but to each their own).
I can see white collar professionals in their late 20’s to 30’s that are single w/o car that would like a place like this (think Big Law, top ten accountants, etc.) and prefer not to rent.
I think a single older gentleman would buy this place. A divorced doctor or executive in their mid 40s’ Kind of a like a viagra bachelor pad.
1000 sq. ft is a nice amount of space for a 1 bedroom in the Gold Coast.
And there’s not that much new development in the Golf Coast vs. Lincoln Park or Lakeview.
Gold Coast is ALWAYS (well for a pretty darn long time) going to command a premium over much of the rest of the city.
Also I think the population of Gold Coast lends itself even more to the no-car set than even Lincoln Park
No way this sells for over 2004 price is my guess.
300k.
According to the BLS CPI index:
April 1989 = $135,000
September 1999 = $184,127
October 2004 = $209,358
June 2009 = $236,547
Based on the 2004 listing details (“GORGEOUS VINTAGE DREAM! THIS SPACIOUS 1000SF UNIT IS ON THE TOP FLOOR OF AN INTIMATE VICTORIAN 6 FLAT & HAS ALL THE VINTAGE DETAILING!”), it appears the renovation was done by the current seller.
yeah, the black-and-white stripes room w/ all the mirrors screams “American Psycho” to me. Definitely where the magic happens.
nice but not 400k nice. I don’t think parking will stay as big a deal breaker as it was during the bubble. I know and am part of a large group of people living in LP, SL, GC, etc that have sold their cars bc the cost of keeping it on the road outweighed the benefit.
“I can see white collar professionals in their late 20’s to 30’s that are single w/o car that would like a place like this (think Big Law, top ten accountants, etc.) and prefer not to rent.”
they might like this place, but they probably like a place with a bit more room better, and definitely central ac.
Gorgeous kitchen, but WTF is with the stripes?
Here’s a question–the listing notes the Jado faucet and the Duravit basin. Does anyone looking at the listings actually care about $1000 worth of fixtures? Especially when it is–based on the description–only some of the fixtures (i.e., not the toilet or shower set) that are the fancy name brands.
Who killed a Zebra?????
The classic dreamland seller. Everyone is entitled to 100K in appreciation, right?
If you take some acid and sit in that black and white room, I wonder if you’d start to see zebras?
Call me crazy but this is a nice looking place. Minus the stripes. With all of the crappy new development at least this would be a sturdy building. If there are special HOA dues it is a 100 + year old building. And with most buildings that age parking a car was not a factor in 1877. They probably would end up at selling at 350.
I have a bit of compassion, I live in a “vintage building” in the Gold Coast.
Magic does happen in that black and white room..and is more like a white tiger than a zebra. The best part was afterwards you can climb out the window in the kitchen and smoke a cigarette. The layout is nice for entertaining… and would serve well as a bachelors pad. 400k seems really expensive though and remember that is a fair amount of stairs to climb.
gorgeous. thank you, owners, for not destroying all of the vintage detail. what a cozy, cute place! why oh why cant builders seem to build anything that doesnt leak and isnt a piece of poo these days? no horrible split face block here! lovely.
$300-$400 / sqft is what nicely renovated vintage 1BRs in the Gold Coast cost. Get over it.
Overall, it is a nice unit and I don’t think the few ‘negatives’ would bother a qualified person seeking to live in this area. Sort of like comparing Armani over Men’s Warehouse. The pride of label (location) ownership will allow the negatives to always be overlooked. That is one of the differences between ownership here in Chicago vs NYC. There you do not make concessions when looking to invest in a new home…everything must be included or the sale just does not happen.
I know if I were seeking a trophy address in Chicago, I would be extremely demanding and would require total satisfaction.
To each his/her own though and all of that aside, I believe it will sell for or very near asking price even if that rate of appreciation is Outrageou$ and borders on inexcusable greed…
looks nice. then again, I am late 20s and single and w/o a car. but I am not an accountant or lawyer. how boring.
And 3 bedroom houses in California used to cost $1,000,000 but who really cares about yesterday, I only care about tomorrow. It’s not 2006 anymore in Cali or in the Gold Coast, and prices have been dropping, and so will prices in the Gold Coast.
“JGR on July 29th, 2009 at 8:05 pm
$300-$400 / sqft is what nicely renovated vintage 1BRs in the Gold Coast cost. Get over it.”