Vintage 2/2 Priced at $545,000 Featured in the New York Times: 1500 N LaSalle in Old Town
This vintage 2-bedroom at 1500 N. LaSalle in Old Town came on the market in September 2023.
1500 N. LaSalle was designed by Edmund Krause (1859-1935) in 1892. He designed 61 buildings in his lifetime. He specialized in mid-rise apartment buildings such as this one and also designed The Commodore at Surf and Broadway in Lakeview.
Krause’s best known building is the Majestic Building at 22 W. Monroe in the Loop, better known as the Schubert Theater.
This building has 24-units with an elevator and a shared rooftop deck with city views.
It also has a daily on-site maintenance engineer, a bike room and storage lockers. There’s no parking lot with the building (although I do recall the possibility that there is one single parking space.)
This unit was recently featured in the New York Times in the “What You Get” column. Thanks to chichow for bringing it to my attention. In this case, What You Get featured 3 properties for $500,000: one in Massachusetts, one in Illinois and one in Virginia.
You can read the column here.
The vintage features do not remain with this unit, although it has high ceilings and a gas fireplace.
There are dark hardwood floors in the main living space. Many of those commenting in the NYT’s comment section on this article said they thought the hardwoods had been “painted” as they appear black in the pictures. Have they?
The kitchen has white cabinets, stainless steel appliances and what looks like black granite counter tops. There’s also a silver tile backsplash.
There’s a pass through in the kitchen that overlooks the separate dining room.
The unit also has a separate den, or “flex” space, that does not have a door and which could be used as an office.
The primary bedroom has an en suite bath with a walk-in-shower.
There’s no private outdoor space with the unit.
It does have some of the features that buyers look for including central air and washer/dryer in the unit. But there’s no parking although it’s available to rent in the neighborhood.
The New York Times gives this description of its location:
Walking to Chicago History Museum or the well-known Second City comedy club takes about five minutes. Oak Street Beach, on the banks of Lake Michigan, is about a five-minute drive; North Avenue Beach is 10 minutes away. Driving to Wrigley Field takes about 15 minutes. Chicago O’Hare International Airport is a half-hour drive.
Listed in September 2023 for $574,900, it has been reduced to $545,000.
The comments in the NY Times (which I highly recommend checking out) seemed to be fairly bullish on Chicago. There were some complaints about the floor color and the backsplash, however. Some were surprised at how much you got for the price.
And, as usual, there was a lot of criticism (any chatterati posting comments over there??? Lol)
At $545,000, is this a deal for the location and square footage?
Giovanni Leopaldi at Compass has the listing. See the pictures and floor plan here.
Unit #4B: 2 bedrooms, 2 baths, 1500 square feet
- Sold in April 1996 for $165,000
- Sold in February 1999 for $247,000
- Sold in November 2006 for $370,000
- Sold in March 2011 for $355,000
- Sold in August 2014 for $436,000
- Sold in September 2015 for $440,000 (relocation sale?)
- Sold in November 2015 for $440,000
- Originally listed in September 2023 for $574,900
- Reduced
- Currently listed at $545,000
- Assessments of $584 a month (includes exterior maintenance, sun deck, elevator, bike room, scavenger)
- Taxes of $8847
- Central Air
- Washer/dryer in the unit
- No parking
- Gas fireplace
- Bedroom #1: 14×12
- Bedroom #2: 12×10
- Living room: 13×13
- Dining room: 18×13
- Kitchen: 14×10
- Den: 13×12
Currently listed at $529k LOL
So much potential wasted
The one point they color outside the lines and they chose that back splash, lol
Flooring was a horrible choice
The backing for the TV looks like shit
Could they have found a smaller sink?
Where the bIDDiNg wAR?
I have a feeling this place is a lot worse in person that the photos a letting on
Assessments seem a little low.
Nicer stretch of LaSalle, nice building. Seems like a slender island would be better than that partially open kitchen wall, or do half wall (all the way to the ceiling) / half island.
You’d think that someone whose WFH setup demands taking up that whole den (rather than putting the TV in there) would a more substantial desk situation. If the TV must remain in the LR, mounting one (not the current one) on a swing arm to the right of the fireplace might help this place.
“The unit also has a separate den, or “flex” space, that does not have a door and which could be used as an office.”
We know who is NOT the listing agent–this would be at least a 3 bedroom if he listed it. The space evan has a closet AND a window.
Help educate the ignorant – what’s the deal with removing all the curtains? I mean there are curtain rods everywhere, but no curtains.
I’m very pleased to see all the nice NYT comments about Chicago. And to think how much we all complain on this site (me included!)
It seems like a good deal, though if you have a car it’s inconvenient. If i were buying I’d make that den into a separate room. Views from bedrooms are depressing, though. Why such a low assessment in this old a building? Are they keeping it up?
“Why such a low assessment in this old a building? Are they keeping it up?”
It’s mostly just maintenance. Doesn’t include cable/Internet or heat.
“I’m very pleased to see all the nice NYT comments about Chicago.”
Yep. It’s nice to see, right Dan #2? Chicago has beautiful real estate and it’s a deal compared with any other large city, other than Philadelphia.
on assessments
I don’t know why, but these mid rises or more recent 5 over 1 tend to have lower assessments
on views
it’s a mid rise in a dense area, it’s not going to have views. I find it interesting that depending on which room, the windows are frosted: some of half frosted others are completely frosted
on the interior
i agree that sink is way to small. I can deal with the backsplash and the paint as those items are straightforward to replace
I wonder if there are storage units
“I don’t know why, but these mid rises or more recent 5 over 1 tend to have lower assessments”
They aren’t 130 years old? Think of just the exterior maintenance on this building.
Closed for 510K
Thats HAWT!
Thanks for the update David.
This building has always been a harder sell. No parking, vintage, no private outdoor space and on LaSalle.