Totally Renovated Corner 1-Bedroom for $290,000 in the Gold Coast: 1540 N. LaSalle
This corner 1-bedroom in LaSalle Terrace at 1540 N. LaSalle in the Gold Coast came on the market in June 2022.
Built in 1978, LaSalle Terrace has 140 units and attached heated garage parking.
The building has doorstaff and a “small” fitness room.
This unit has been “totally renovated” and has unobstructed south and east exposures.
The listing says it has new wood floors in the living area and hall and wool carpet in the bedroom.
The kitchen is “newer” with white cabinets, granite counter tops, stainless steel appliances, a backsplash and pantry.
There’s a full dining space which leads to an east facing balcony.
The listing says there’s also a “newer” bath with a white vanity and mosaic tile, porcelain gray floor.
It has all new lighting and “ample” closets.
While it has assigned heated garage parking included in the price and central air, the unit does not have a washer/dryer. There is coin laundry in the building.
This building is in the center of several popular neighborhoods including the Gold Coast, Old Town and Lincoln Park with all of its shops, restaurants and grocery stores.
Listed at $290,000, that is just $12,000 above the 2018 sales price.
Are 1-bedrooms still a hard sell downtown?
Elena Theodoros and Stacy Terpsma at @properties Christie’s have the listing. See the pictures here.
Unit #1901: 1 bedroom, 1 bath, no square footage
- Sold in October 1996 for $88,000
- Sold in November 2002 for $205,000
- Sold in March 2005 for $195,000
- Sold in May 2018 for $278,000
- Currently listed at $290,000
- Assessments of $634 a month (includes heat, central air, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $4718
- Central Air
- No washer/dryer in the unit but coin laundry in the building
- Assigned, heated garage parking included
- Bedroom#1: 12×14
- Living room: 18×15
- Dining room: 8×9
- Kitchen: 9×10
- Balcony: 5×16
What did they do to sell for less in ’05 than in ’02? [checking] Looks like “got married”. So either overpaid in ’02, or wanted a quick sale in ’05.
“just $12,000 above the 2018 sale”
Reno was brand new in ’18, and now has 4 years wear and tear on it.
$278 + CPI = $323, so it’s actually 10% off the ’18 price.
60K out of pocket then $30k/yr to live in a shoebox condo isn’t for everyone.
Those views are, how shall I put this, uninspiring?
We looked at a 43rd floor east-facing 1-bedroom unit a block away at 1560 N. Sandburg a few weeks ago for a price only a bit higher than this. The view was breathtaking, and the building, while going through some work, seems like a much more luxurious place.
Pass on this one.