We Love Private 1100 Sq. Ft. Terraces: 200 W. Grand in River North
This 2-bedroom at 200 W. Grand in River North has one feature many downtown city dwellers yearn for: private outdoor space.
The unit boasts an 1100 square foot private terrace which isn’t simply a slab of concrete as we so often see in these buildings.
This terrace has been professionally landscaped, has sprinklers and is wired for sound.
The building was constructed in 2003/2004 so the unit has the other finishes typical for this time period including granite counter tops and stainless steel appliances in the kitchen.
The unit has central air and a full-size stackable washer/dryer.
1 deeded parking spot and deed storage is also included in the price.
The unit came on the market in April and in that time it has been reduced $10,000.
It is also listed $52,500 under the 2007 purchase price.
Is this a deal if you include the large outdoor space?
Scott Berg at Berg Properties has the listing. See the pictures here.
Unit #603: 2 bedrooms, 2 baths, 1250 square feet, 1100 square foot terrace
- Sold in June 2004 for $486,000 (included the parking)
- Sold in November 2007 for $601,500 (included the parking)
- Originally listed in April 2011 for $559,000 (included the parking)
- Reduced
- Currently listed for $549,000 (includes the parking)
- Assessments of $783 a month (includes heat, a/c, gas, doorman, cable)
- Taxes of $3693
- Central Air
- In-unit washer/dryer
- Bedroom #1: 13×12
- Bedroom #2: 13×10
would be a pretty nice place around $400-$425K. $450K if they’re very fortunate.
Tax: $3,693
Tax Year: 2009
Tax Exemptions: Homeowner
wow I hope my taxes are that low when my HO exemption kicks in this year… because my 09 taxes were about 1k higher than this place (w/o the HOE)!
Good-looking place, and that terrace is quite lovely. I’d normally prefer a higher floor, but I don’t suppose higher floors in this building would have such a large terrace, so it’s a tradeoff. The price doesn’t seem too high, considering it includes parking and assessments aren’t outrageous. This might be a good opportunity for someone.
Horrible photographs and the finishes show terribly. Even the terrace gives you a nice view of the hoses. A real downer to me: I wouldn’t even look at it for anything over 475K
“wow I hope my taxes are that low when my HO exemption kicks in this year… because my 09 taxes were about 1k higher than this place (w/o the HOE)!”
They should list the 2010 tax bill:
$0.
There’s some serious funny biz with the taxes on this unit. AV is 23,656, but there is no listed AV for the 2009 cycle.
Tiny indoor space
Cramped kitchen
Low floor
High assessments. For $800, this building should have an outdoor pool deck.
This peak-buyer will have to lower another $100-150k if he wants to escape the mob violence.
Tiny indoor space, average kitchen, low floor, high assessments…… but glorious outdoor space.
It will probably sell close to ask.
awesome outdoor space… it’s interesting that the square footage of the outdoor terrace is almost as much as the unit itself!
I would think that a comparable unit, without the outdoor space, wouldn’t go for much more than 350k; so at this price, you’re paying about 200k for that outdoor space.
Why do people love outdoor space so much? Parties? It is only useable for half the year.
“I would think that a comparable unit, without the outdoor space, wouldn’t go for much more than 350k; so at this price, you’re paying about 200k for that outdoor space.”
The assessor thinks that the unit is worth about $250k (which is, despite appearance, based on something). At that price, you’re paying $300k for the terrace.
This outdoor space isn’t that impressive. Most of the South view looks like it’s blocked by the high-rise across Grand. Decent view of Merchandise mart but it looks like Willis tower is blocked. Not a panty-remover view and not worth a $200k premium.
They really should have used some of that terrace space as living room space instead. 11×14? no thanks
“Why do people love outdoor space so much?”
Speaking for myself. It’s just nice to stand outside and enjoy some fresh air when you have no other reason to leave your house. I can stand outside for hours some evenings.
…and of course it comes in very handy when the mother in law is over and I want to find a new equilibrium.
Wow such an awesome terrace matched up to such a ho-hum unit.
what idiot architect (or builder) pulled that bonehead move? you deserve a kick in the shins sir, a nice hard kick.
Is this the first floor of residences over the parking garage? Probably why it has the outdoor terrace instead of a small balcony. I wonder if people throw trash on to the terrace from the higher floors. I rented a unit like this once – we used to find all kinds of gross and disgusting things on the terrace from the balconies above.
Biggest problem with balconies and terraces – smokers. Ugh.
“Why do people love outdoor space so much? Parties? It is only useable for half the year.”
since anon, either missed this or is playing blind-eye to save his keyboard a pounding, i will field this one.
if you beleive this outdoor space can be only used for “half” the year you are living in the wrong geographic area my friend.
if i lived here you would see me out there smoking my january smoked turkey for my annual after new years sux butt party.
value of private outdoor space is huge. you know what i did after getting back from the gym last night? i sat outside on my back porch shoeless, shirtless, in gym shorts drinking a few beers and catching up on emails till about 11:30pm
“Biggest problem with balconies and terraces – smokers. Ugh.”
Agreed. it seems the airflow from all the other units’ decks has to pass by mine before it can leave our back area.
“Why do people love outdoor space so much?”
Gardening? Eating outside? Enjoying the sun? Getting out of the air conditioning in the summer?
Granted, if you don’t like those things, you probably won’t value outdoor space. But usable half the year? Please. I’ve been on my porch since early April.
Looks like the last sold 2/2 went for $400k (w/ parking, I think).
http://www.redfin.com/IL/Chicago/200-W-Grand-Ave-60654/unit-1704/home/26813861
One in April of last year for
What’s with those taxes? That can’t be right.
o/t alert:
On the market for over a year. Still priced $162k over ’99 price (though has been renovated, inc extra bath). Interestingly enough, was previously rented for $2950, per MLS. 1.5 wide lot. Was last listed at $665, i believe, now at $599.
As Sabrina would say, “is this victorian frame house finally priced to sell?”
http://www.redfin.com/IL/Chicago/3541-N-Marshfield-Ave-60657/home/13386406
How about this one, on the market for almost two years?
http://www.redfin.com/IL/Chicago/5111-S-Kenwood-Ave-60615/home/13949034
Roma: About the house
Have you seen it in person? The house, at least from what I have seen on the outside, is in serious need of repair and yard work. U of C graduate housing is across the street and despite that, I for whatever reason, I never had a good feeling about Kenwood from 53rd to E Hyde Park. There are also three parking lots and some weird hotel thing on the corner.
Looks like the balconies are not directly over the terrace . . . .
With something like this I think you just need the right buyer. That terrace is awesome, and parking is included. I think it can sell between 500 and 525 given the comp at 400.
Really small living room though.
I think it was thier neighbors unit but one of the terrace units on the north side of the building was featured on HGTV’s landscapers challenge. It was really odd as they typically feature SFH’s with huge backyards to transform. On that episode it was a slab of concrete in the city and the challenges that it presented. Turned out really cool. I recall a scene where they shut down the street on a Sunday as they had to crane up parts of the gazebo and the trees.