Trying To Sell With Construction Next Door: 165 N. Canal on the Near West Side
This 3-bedroom in Randolph Place at 165 N. Canal on the Near West Side just came on the market.
It has the coveted north and east views which means it looks over the Chicago River.
It has 2 balconies and 2-car tandem parking.
The kitchen has granite counter tops and stainless steel appliances.
All 3 bedrooms are enclosed, which is preferred (even for those buying in loft buildings.)
But just to the north of this building, on the other side of the El tracks, the office building called River Point is being built over the railroad tracks.
And just to the east of this building, after more than 10 years of debate as to what, if anything, would be built on the sliver of land over the railroad tracks right next to 165 N. Canal, another office building has started construction called 150 N. Riverside.
You can see renderings of what 150 N. Riverside is expected to look like on Curbed here.
Part of the property will have a park (if you scroll down you on the Curbed link can see it in the pictures.)
Currently, the east facing units in this building look out onto the River with the train tracks right in front of the building (and yes- you CAN hear the trains going by.) With the new building, the train tracks will be covered (as they are by the Boeing building across the street.)
But certainly some views will be impacted by the new office buildings.
Does nearby construction influence your decision to buy?
Or is it just part of city living?
James Horwath at Berkshire KoenigRubloff has the listing. See the pictures here.
Unit #812: 3 bedrooms, 2.5 baths, no square footage listed
- Sold in April 1999 for $485,000
- Sold in April 2005 for $660,000
- Currently listed for $725,000 (tandem parking included)
- Assessments of $837 a month (includes doorman, cable, exercise room)
- Taxes of $11,302
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 12×18
- Bedroom #2: 12×12
- Bedroom #3: 12×16
Don’t forget Wolf Point construction, and also the 151 N franklin, and maybe some other bulding at 131? Franklin, then there’s the stuff going on in the west loop…. its nutso
I have been following the construction at 150 N Riverside and 444 W Lake pretty closely, and I can say with confidence that the views off the balcony will not be impacted. The balcony is literally directly over the L tracks so nothing will be blocking that. That said, 444 W Lake is directly north of here across the street. A building to the north only will block the views of 333 N Canal (Riverbend) from this place. The money view is looking down the main branch of the river and that will be preserved. If anything, the value of this unit will be increased as the 150 N Riverbend will block the noise and fumes from the Metra tracks and add a park right next to the building. 444 W Lake will also be adding a beautiful riverwalk and park. Both of these office buildings will bring high paying professions to the neighborhood which may mean that workers might want a place to live right next to their office. They’ll buy in the neighborhood and increase property values. That’s just my take.
The really interesting/”cool”aspect of this building is that many of the units have storage areas that are practically apartments in themselves! In fact, Realtors have shown me some of them, quite “tricked out” with desks, couches, etc. which must be just “stored” there because there are no windows and therefore it’s against the rules to use these as home offices or guest rooms or playrooms/timeout rooms for the kids…cough…cough…
“The balcony is literally directly over the L tracks so nothing will be blocking that.”
There’s two balconies. One faces north and the other faces east.
So a building being put up directly east isn’t going to impact views at all?
I suppose it depends on how close they build the two buildings.
“Both of these office buildings will bring high paying professions to the neighborhood which may mean that workers might want a place to live right next to their office.”
So all those Allstate workers bought in 340 Randolph just so they can look into their building next door?
The east facing units at Randolph Place have always had killer views. The threat of the construction to the east has depressed their values for many years – but it wasn’t certain. When it became certain I’m sure the values have gone down further. Have not done the analysis. From the images it looks like the views are obliterated. Really a shame for those people.
I sold an east facing unit in that building a while back and spent quite a bit of time in the unit during the inspection. Never heard the trains with doors and windows closed.
” Allstate workers bought in 340 Randolph”
Blue Cross.
ChiTownGal, hope you don’t mind me asking but I thought you were a realtor yourself?
“Blue Cross.”
Yeah- that’s what I meant. Thanks anon(tfo).
MM – yes I am, that’s how I found out about the “secret extra rooms” for these condos.
Miu–
(I presume) CTG got shown the secret rooms by sellers’ agents when she was a working as a buyer’s agent.