The Commodore’s 2-Bedroom Ballroom Penthouse Returns: 550 W. Surf in Lakeview

This 2-bedroom penthouse in The Commodore at 550 W. Surf in East Lakeview came on the market in March 2022.

Built in 1898, The Commodore used to be a hotel. It has 193 units and parking.

It has a bike room and an on-site manager/engineer but no door staff.

Are The Commodore and the Green Brier, across the street, in the same association?

We last chattered about this unit in 2011-2012.

See our chatter here.

If you recall, the living/dining room was the old ballroom. It measures 40 feet. Here’s a tidbit from the Upper Bracket column in the Chicago Tribune from 2003.

On the sixth and top floor of the Commodore building, 550 W. Surf St., which was built in 1898, the two-bedroom unit was partly created from a ballroom, which, according to legend, was used by Al Capone as a speakeasy during the 1920s, said co-listing agents Monique Crossan and Heather Bilandic of Sudler.

The ballroom has been converted into a living room and dining room combo, with 13-foot ceilings, three exposures, a recessed movie screen and a fireplace.

According to the Upper Bracket, the unit had been renovated by the 2001 buyer. It doesn’t appear that the “recessed movie screen” has survived 19 years later.

But the original wood work, the gas fireplace, arched windows and built-ins have made it.

It has 13 foot ceilings and chandeliers.

There is an extra-wide foyer leading into the unit.

The listing says it has a “gourmet” kitchen with dark wood cabinets, granite counter tops, stainless steel appliances, a wine cooler and skylights.

Through two wood doors you’ll find the bedroom wing which includes both bathrooms.

The primary suite has a walk-in-closet, an en suite bath and a dressing area.

The unit has the features buyers look for including central air, washer/dryer in the unit and one parking space is included, with a second available for $35,000.

It also has a 26×9 storage room in the basement.

The Commodore is near the Diversey/Clark/Broadway corridor of shops and restaurants and close to the Trader Joe’s and Landmark Cinema.

If you look at the 2011 crib, you will see that that buyer tried to get $975,000 before finally selling for $570,000 in 2012.

Several of you thought the 2012 selling price was a “deal.”

This penthouse has come on the market at $845,000 plus $35,000 for the second parking space.

Will the sellers get to cash in on their 2012 deal in 2022?

Matthew Engle at Fulton Grace Realty has the listing. See the pictures here (sorry, no floor plan). I recommend looking at the pictures of the prior listing for more context.

Unit #609: 2 bedrooms, 2 baths, 3000 square feet, 2 deeded covered parking spots

  • Sold in June 1993 for $223,000
  • Sold in July 1997 for $340,000
  • Sold in March 1999 for $425,000
  • Sold in June 2001 for $975,000
  • Sold in October 2006 for $999,000
  • Originally listed in July 2011 for $975,000
  • Sold in September 2012 for $570,000 (included 2 parking spaces)
  • Currently listed at $845,000 (includes 1 parking space, second is $35,000 extra)
  • Assessments are now $1532 a month (they were $1151 a month in November 2012)
  • Taxes are now $13,978 (they were $10,009 in 2012)
  • Central Air
  • Washer/Dryer in the unit
  • Gas fireplace
  • Storage: 26×9 (in basement)
  • Bedroom #1: 18×14 (the room sizes are from the 2012 listing because they aren’t in the current one)
  • Bedroom #2: 17×12
  • Living/dining room (old ballroom): 43×23
  • Kitchen: wasn’t listed in 2012

 

 

10 Responses to “The Commodore’s 2-Bedroom Ballroom Penthouse Returns: 550 W. Surf in Lakeview”

  1. In 2012, I commented that the selling price under $600,000 was a good deal. I’m not so sure it’s a good deal at the current asking price over $800,000.

    The layout and look and feel make it seem more like some kind of an exclusive club than a place to live. Aside from the living room, outside light appears limited, and at least one room seems to have no windows. Also, there’s no outdoor space. Taxes are high. The assessment is also high despite this building having few amenities (though I suppose upkeep on something this old costs a lot).

    However, it is a unique unit and has two deeded spaces, which counts for a lot. Great location, iconic building, Al Capone connection, etc. I’m sure someone will pay near the ask. Probably would suit a wealthy couple looking for something that’s a conversation piece and not cookie cutter.

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  2. Doesnt seem like 3ksf, probably adding the storage & parking

    Love the woodwork and nice that someone didnt paint over it.

    I think replacing the SS and painting the kitchen cabinets would make a big difference.

    Something more period correct around the FP would be a nice touch

    Looking at the other units for sale, the property looks pretty low end. Not sure I’d want the nicest place here

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  3. It’s insane how bad the current listing picutres are compared to the 2011 listing.

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  4. “It doesn’t appear that the “recessed movie screen” has survived 19 years later.”

    Well, there is still a gap in the ceiling for it. And it looks like the dropdown projector equipment is still there, too.

    Maybe none of it works, but one would certainly want it to be updated to contemporary tech in any case.

    Should’ve flipped the door on the dryer.

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  5. “It’s insane how bad the current listing picutres are compared to the 2011 listing.”

    The furnishings helped a lot in the ’11 pix, too.

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  6. They’d have been better off leaving this place empty. The poorly matched furniture is only cheapening the place.

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  7. TVs mounted above the thrones in both bathrooms are an interesting choice.

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  8. haha these people are on crack, this place needs a big time rehab

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  9. Sabrina, can we chat about this one?
    Cheapest unit in a very ritzy building. Co-op fees of only $800/mo include most utilities and taxes.

    https://www.redfin.com/IL/Chicago/6-E-Scott-St-60610/unit-1/home/21660300

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  10. – from the peanut gallery –

    sonies : “haha these people are on crack, this place needs a big time rehab”

    me : yeah this property is a hard no for me

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