The Rehabbed 2/2 in the Water Tower Place Condominiums: 180 E. Pearson in the Gold Coast
This 2-bedroom just came on the market in the Water Tower Place Condominiums at 180 E. Pearson in the Gold Coast.
Constructed in 1975, with 260 units, the building is still considered one of the premier luxury high rises in the city.
Its most famous resident was Oprah Winfrey.
This 2-bedroom unit sold a year ago for just $620,000.
Now renovated by a “notable designer” – it has new baths, a new kitchen and new floors (?) and is listed for nearly double the 2010 purchase price.
The kitchen has contemporary white cabinets (white is “in”) and stainless steel appliances.
The bathrooms look to be marble and at least one has a built-in television.
Does anyone know what the floors are in the living/dining/kitchen area?
The unit has central air, in-unit washer/dryer and parking is available to rent in the building.
The property is also available furnished so you could just move right in.
Since it is over the Ritz Carlton hotel, residents can use all the amenities of the hotel including maid and room service.
Will this rehabbed unit command double the 2010 price?
Jay Michael at Estate Properties has the listing. See the pictures here.
Unit #3603: 2 bedrooms, 2 baths, 1791 square feet
- Sold in October 1992 for $437,500
- Sold in January 2003 for $770,000
- Sold in June 2010 for $620,000
- Currently listed for $1.195 million
- Assessments of $1339 a month (includes cable, a/c, doorman, pool)
- Taxes of $12202
- Parking is rental between $365 and $510 a month
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×16
- Bedroom #2: 11×15
Is the housekeeping included in the assessments or is it an extra charge? $1300 might be work it with weekly cleaning!
Extra…and the parking fees are crazy.
I was thinking the same thing, Onlooker. Even if the services are extra, $1,300 isn’t outrageous considering the building and location.
I had a friend who used to live in this building. The building and her condo seemed very elegant.
There is no way I would spend $600,000 over what someone paid last year though, rehabbed or not.
Problem with this unit is the view right into the Hancock.
thats a really nice unit, but those windows just KILL it for me… I don’t like the black frames and the fact that they aren’t floor to ceiling in a 1.2mm 2/2 just don’t work for me
Every time you talk about white being “in” for kitchen cabinets I do a little happy dance inside because we’ve been meaning to update ours for ten years but apparently we no longer have to! Now I just need to get rid of the little plastic knobs, and we’ll be set.
i like high rises better, but prices like this makes me prefer something like the following:
http://www.redfin.com/IL/Chicago/839-N-Dearborn-St-60610/unit-D/home/23416323
“Every time you talk about white being “in” for kitchen cabinets ”
But stainless steel is “out”, so this kitchen leaves me very confused.
Re the floors, if the color in the second picture is accurate, maybe limestone or travertine, and if the color if the fifth picture is accurate, maybe slate?
if you have white cabinets that look like this though
http://t1.gstatic.com/images?q=tbn:ANd9GcQRqHRdyWfHfvgbrv69pqQ693eXm8yKKVhWkCHVJKEW6q3U3DspFTc-A0g
blow them up!
“Is the housekeeping included in the assessments or is it an extra charge? $1300 might be work it with weekly cleaning!”
You do know there are cleaning services for hire, right?
Room service seems more of a distinguishing amenity, although I don’t know I’d be that into paying $30/person for breakfast or $70-80/person for dinner, but I’m probably not the right demo.
To clarify, since everyone seems to be either clueless or ignoring reality here, “white is in” only to the extent that “white” is painted white, high-quality, real wood, modern cabinets – usually with European cowling/coving/molding/inlays, pulls etc., and corresponding fixtures and finishes in the rest of the kitchen in that style, usually with non-uniform lighter colored counters . The subject property doesn’t have that style, and I personally don’t think that the subject property looks very good with that shiny, glossy white.
The crappy particleboard and base appliance “white” kitchens which happen to be the same general color as current high-end kitchens didn’t suddenly become high-quality.
I’m not familiar with this market segment or this location, other than some familiarity with the JH, but this property doesn’t really look like it just had a $600k (or although them plenty of profit and say a $400k) rehab, and I would be surprised if it’s really competitive.
But if stainless is out, what’s in? Cabinet front only works for certain appliances. And I don’t think Wolf makes a range in any other color.
And what comes after white??
“But if stainless is out, what’s in? Cabinet front only works for certain appliances. And I don’t think Wolf makes a range in any other color.”
It’s a mystery! James has left us, or perhaps he’d weigh in, finally.
Maybe linoleum-covered appliances?
“And what comes after white??”
Carbon fiber!!
Maybe I’m nuts, but if someone were to offer me this unit or the one we saw yesterday on Junior Terrace, I’d take the Junior Terrace one. Far more charm, and I even like the location better. No in-house room service, though.
“No in-house room service, though.”
You do know there are restaurant delivery services, right? Spend a couple bucks on some plate covers or spring for a room service cart if you like, and bon appetit!
So very happy about the move towards a different kind of kitchen. The norm for Chicago kitchens is truly horrific dark cherry cabinet and boring granite countertops. It is AWFUL. I actually agree that this kitchen doesn’t really work for this unit, I like this kitchen style and will take whatever I can get over what has become the norm.
“Carbon fiber!!”
already exists!
http://www.carbonfibergear.com/cooking-with-carbon-fiber-gorenje-ora-ito-carbon-fiber-kitchen-appliances/
Also, I know it’s staging/decor, but the table/dining chair combo is completely out of keeping with the kitchen, and even the light fixture they put over the table. And the lack of imagination in that second bedroom is appalling.
I wish people would just buy whatever they like, instead of worrying about what’s “in.” I prefer white appliances to stainless steel, so that’s what I have. If money were no object, I would integrate my appliances so they blend in with the wood cabinets.
“already exists!”
I was talking about cabinets. The light weight and high tech look is just the thing for cabinets!!
But I’m not sure what sort of countertop you’d use with them. Prolly Titanium.
I guess if you will live in your home for a very long time, buying what you like works, but if you are buying a place you will probably sell before the appliances need replacing again then you have to take buyers preferences into account.
“To clarify, since everyone seems to be either clueless or ignoring reality here,”
Been through the merchandise mart recently? It’s all about the high gloss lacquer, matte white is the uncool ghetto crap you want to avoid.
What is up with the canopy bed without the draping. Just a big black structure over your bed. Sleeping in that must be stressful.
“But I’m not sure what sort of countertop you’d use with them. Prolly Titanium.”
Doesn’t matter, as I’m sure *you* would cover it with a panoply of iP* devices anyway. Magical!
Why do some high-rise units have can lights (good), and many others do not have them at all (bad). Since this was a 1975 building, how’d they get them in there? Any electricians here?
PS I like a $1.2 million unit with a portrait of Lenin on the wall, how ironic.
“Doesn’t matter, as I’m sure *you* would cover it with a panoply of iP* devices anyway. Magical!”
Sheesh, can’t believe I didn’t think of it. This:
http://www.ideum.com/products/multitouch/
(or something like it) is *obviously* the countertop to have in your carbon fiber kitchen of the future!
I couldn’t tell you a price….but I highly doubt this sells for anywhere near asking price. Any buyer would have to be stupid to ignore what the flipper paid…
“I’m not familiar with this market segment or this location, other than some familiarity with the JH, but this property doesn’t really look like it just had a $600k (or although them plenty of profit and say a $400k) rehab, and I would be surprised if it’s really competitive.”
You have to remeber that in large buildings if you move any pipes or walls, your requried to have architect plans. There also usually elevator fees, etc.. in these buildnigs which add to cost. While you may not think some of the materials suggest 400K, the fees and labor might make a reno in this building cost this much, especially if you are requried to use union labor. Many LSD buildings require that you higher union labor which adds 20-30% in cost.
@ anon, don’t say the L word!
“don’t say the L word!”
But picture it: you could redo your appliances almost weekly with the (asbestos-filled) scraps from a 50s-era kitchen demo. It would be sweet!
local, I do understand some of the issues associated with rehabbing high-rise units, and I took some of that into account. I guess that I forgot about the union labor requirement. That could make a big difference. However, it seems likely that someone taking a project like this on might have access to union workers to do this work without paying all of the “you’re getting ripped off” premium.
DZ – Give us a break…yes we know you can hire maid services and yes we know there are food delivery services, but there is an odd allure if they are included in assessments and/or high-end food (did someone say lobster tail?) and available 24×7. It isn’t too much different from people determining if assessments are reasonable if they include cable, heat, etc. Or if they feel they live in a more desirable building because they have a doorman.
Everyone is commenting on the kitchen – why not tell them there are kitchen design stores or appliance stores!! =)
“why not tell them there are kitchen design stores or appliance stores!!”
Because that can’t answer the dual questions of (a) what’s “in” for appliances, if not SS and (2) what’s “next” for cabinets after white?
For that, we need the CC.
lmao anon. Now that you are at it; why not cover the ceiling with L as well? haha
why do cabinets doors have to be real wood, you’re using them to go sailing? I had the poggenpohls, that i eventually hated, and yes they were that mbf stuff or whatever they were but still looked stellar. Sometimes the others just dont work right.
But heck i just buy what i like.
Btw i think you can just spraypaint the ss if it isn’t mod anymore. Shiny cabinets… In 5 yrs they will be hated. Fails my unicorn criteria.
But whatever you do, keep it off the floor!
“yes we know you can hire maid services and yes we know there are food delivery services, but there is an odd allure if they are included in assessments and/or high-end food (did someone say lobster tail?) and available 24×7. It isn’t too much different from people determining if assessments are reasonable if they include cable, heat, etc. Or if they feel they live in a more desirable building because they have a doorman.”
I’d agree if maid service was included in assessments (which I appreciate that you posed as a question initially). Since it’s not, who cares if you can access it through hotel or have to schedule on your own.
I also agreed that access to room service was a bit of a distinguishing feature. But I don’t know that four seasons level room service is really that high end or worth it either.
That mold ridden wreck on route 22 in Highland Park had shiny white cabinets…
maid service, included with assesments, would bother me. Last thing i want/need is a maid around.
I wouldn’t mind a good butler. I have one now but he doesn’t show up much nor does he take direction well. I think he is stoned too alot.
“maid service, included with assesments, would bother me. Last thing i want/need is a maid around”
Ze – you will clearly never head the IMF.
BTW haaaaaa haaaaaaa loved the new pricing of $600K in imporvements. Even Jeff Lewis knows better than to try high end flipping in this day and age. That buyer must have been home watching old episodes of Flip this house and thought that it was still 2006.
No way on the $1.2 pricing! Just not going to happen. I suspect $900 max and I mean MAX…
“I wouldn’t mind a good butler. I have one now but he doesn’t show up much nor does he take direction well. I think he is stoned too alot.”
Ze is your butler?
“Ze – you will clearly never head the IMF.”
wow..i thought about DSK too as soon as i read ze’s post…lol
@ anon…lol…the boob in bb’s name made ze quit farming and take a new career road ; )
Regarding the “Carlton Club” in this building: Do the HOA dues cover membership in the club? When I first arrived in Chicago I was a 6 week resident of the Ritz Carlton hotel in the building and had Carlton Club access. The pool, gym, locker room and weight/cardio room were outstanding as was the spa area.
Also, I have been in a couple of units in this building and the ceilings felt very low, though this could be partially because of no floor to ceiling windows.
If you really want maid service, save your money, and stay in the hotel. They work deals for longer term stays, as does the Four Seasons across the street.
The floors look like some dark stained wood plank in a herringbone pattern. What kills this place is the view of the Hancock. The best views are wasted on these bedrooms, there are better views for those…
@miumiu
having been in the hancock, water tower and your listing
http://www.redfin.com/IL/Chicago/839-N-Dearborn-St-60610/unit-D/home/23416323
I can say they are quite different in feel. That place on Dearborn was multi floor living with the office space having strange walls and a bit cramped. Its not as kid friendly as all one level living.
the hancock workout areas are nothing to be sniffed at but the carlton club is better. it’s just kept up to a higher standard.
slightly OT: even the shower knobs at the shared park hyatt club are kinda of chintzy and falling apart already.
DSK has nothing to do with it. BB has it right, it’s about the weed… Plus i don’t like people in my home.
Btw i think the thing i miss the least about the states is all the rediculous time spent sensationalizing the stupidest shit.
Now back to farming… To all a good day!
Thats is so true but its been happening more for pacification purposes. I would throw the royal weeding into thats stuff too!
“Btw i think the thing i miss the least about the states is all the rediculous time spent sensationalizing the stupidest shit. “
“the royal weeding”
Ze seems to be the center of this thread.
lol…i did not catch that.
REaltor jibberish,: white is “in” stainless steel out
lolo
translation:
look, people dont or cant spend any$$
you buy it YOU MAKE IT STAINLESS STEEL
HAHAHA
WHAT THOSE REALTORS WONT SAY TO MAKE A DEAL
EUROPE HAS THE SAME ( OR WORSE) scandals not to mention its a socialist nightmare
they have their own “jerry springer” shows and giggle the same about exposed breasts etc
they just like to act like they are more sophisticated while waiting for the next invasion to take them over