This Is What A $1.5 Million 1-Bedroom Looks Like: In The Ritz At 118 E. Erie
We’ve finally seen the interiors of the new luxury building at 2550 N. Lakeview in Lincoln Park.
Now it’s the Ritz’s turn.
Here are interior pictures of the luxury 1-bedroom unit in the new construction Ritz at 118 E. Erie in River North.
This unit is 1423 square feet and has 1.5 baths.
The kitchen in the pictures has modern white cabinets with stone counter tops and upgraded stainless steel appliances.
Parking is available for $100,000 extra.
Listed at $1,492,727, are you impressed by the finishes?
Jane Shawkey at Prudential Rubloff has the listing. See the pictures here.
Unit #25D: 1 bedroom, 1.5 baths, 1423 square feet
- New construction
- Currently listed for $1,492,727
- Assessments of $1209 a month (includes heat, ac, cable, doorman)
- Taxes are “new”
- Central Air
- Washer/Dryer in the unit
- Bedroom: 21×12
I can’t get past the price of the parking. Is that a misprint or is it really $100K?
Over $1000/sf. Seems a little outrageous. Interior is very nice though and definitely better than many other new “luxury” buildings.
Agree the finishes look good, but if I’m paying this much for a 1 BR at least it should have a lake view. I doubt the lake is visible from any unit in this building.
ridiculously overpriced
Prefer the Palmolive Building…for this much money.
It’s obviously very nice. But in the LR, it looks like wide-plank laminate floors and you can see the seams?
Grossly overpriced for Chicago. Buyers paying $1,000 sqft are expecting amazing views of Lake Michigan and the Chicago skyline. Nice finishes but for $1.4MM, I don’t think the owner’s friends are going to think the buyer got their money’s worth. Particularly, when they try pulling out of the garage on Erie and try making a left turn on Michigan Avenue on a Sunday afternoon. Good luck – Ritz.
I’m also laughing at the price of parking. You pay $1.4 for a 1BR and then they tell you it’s a 100 more if you want a space for your car? What an insult. And there’s no lake view and all you see out of your windows is right into other buildings. I’d never consider this building even if I had the money.
Why is Park Ave. in NYC so expensive? it doesn’t have views of anything.
Unit is nice looking in the sense that it has that generic uninspired modern luxury look that every other new construction condos seem to be sporting (dark floors, light walls, and harsh square designs). But $1.5 for only 2 crappers and 1 shower?! Come onnnn.
As for the price of the parking spot…I could buy a studio condo for less at 630 N. Franklin
“it looks like wide-plank laminate floors”
My guess is that they’re engineered floors which are commonly used in highrises for multiple reasons.
Why is Park Ave. in NYC so expensive?
Location, wide street with lots of natural light, and most apartments are unique big pre-war units that you just can’t find elsewhere.
It’s incomprehensible to me that they didn’t include two full baths.
I’d take the place on Erie over this without hesitation.
“It’s incomprehensible to me that they didn’t include two full baths.”
Unless the pix lie, there are two full baths. Pic 8 shows a bath with dual vanity, and separte tub and shower, and pic 9 shows a bath with single vanity, and combo bath/shower.
As always parking will be the negotiating point to close the sale…and at 100k per pop it will be a big factor. When I first bought in my building, developer prices went up to 600 / sqft and parking was at 300 / sq ft…it always seems so ridiculous to pay $300 / sq ft for a concrete slab with no improvements to speak of. At $1000 / SQ FT….A reasonably priced spot (i.e. 52,500…ish) would make the improvements seem overpriced, no?
“Location, wide street with lots of natural light”
just like this property has too, with the units being brand-new, not decades old.
McKayla is not impressed.
It shouldn’t have two full baths. When guests expect to use your powder room it is inappropriate for them to enter a full bath.
Positives:
Michigan Ave
Proximity to Eddie Bauer
Status Symbol of “The Ritz”
Located right in between Cheesecake Factory AND Grand Lux Cafe
Proximity to guy who paints himself silver and dances to Michael Jackson as well as Atlanta Rhythm Section of bucket players
They are putting a Tommy Bahama in the lobby of this building, you guys!
Personally, I think there should be 2 full baths here because when people come into your place they are gonna be so wow’ed they’re gonna crap their pants and need to shower off afterwards.
“Positives…Proximity to Eddie Bauer”
You’re killing me Lesko, practically spit out my iced coffee after reading that one.
Maybe the parking spot has a retractable hottub built underneath it? Or it’s one of those car elevator lifts that Mitt Romney has. $45k for parking spot +$55k (actual price) of elevator lift = $100k – mystery solved, folks.
When is Clio going to show up and tell us we could get more house for the same amount of money in Oak Brook Terrace?
fwliw, i like the layout and finishes.
feels like $1MM…just not $1.5MM.
“one of those car elevator lifts that Mitt Romney has”
One spot for each Cadillac?
I live in NYC. Upper Park Ave is expensive. It’s a tree lined street with large, pre-war apartments. Lower Park Ave is reasonably priced for NYC. I personally think a street is much preferable to an Avenue as it’s quieter with less traffic.
Dont u get free ritz stays worldwide if you buy?
I wouldn’t take the pictures as evidence of there being two full-baths. The pictures appear to be stock/model unit. Of the seven units listed in the building on the MLS, all seven use the same 10 pictures.
“Dont u get free ritz stays worldwide if you buy?”
Not likely free but a business associate bought into their timeshare program many years ago. At the time he explained that one of the perks was a $249 room rate at most properties with free access to the club floor for food and beverages. Never checked it out but at that time I was traveling three to four nights per week and staying at Courtyards and Hampton Inn’s for around $199. Made me think…..