Who Can Compete Against the Foreclosures? 3310 N. Halsted in Lakeview
This 2-bedroom unit at 3310 N. Halsted in Lakeview just came on the market.
It is bank owned.
The building looks to be 2006-2007 construction.
From the pictures, it still has the bathrooms and kitchen intact which includes granite counter tops and stainless steel appliances.
It has all the other new construction bells and whistles including central air, in-unit washer/dryer, hardwood floors and parking.
It is now listed at 35% under the 2007 purchase price.
Is this a deal?
And what do these comps do to nearby units for sale (not just in the same building but down the block)?
Ayoub Rabah at Great Street Properties has the listing. See the pictures here.
Unit #4: 2 bedrooms, 2 baths, no square footage listed
- Sold in March 2007 for $543,500
- Lis pendens filed in March 2009
- Bank owned in August 2010
- Currently listed for $350,000 (parking included)
- Assessments of $323 a month
- Taxes of $7927
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 17×13
- Bedroom #2: 12×10
- Living room: 17×22
- Kitchen: 25×13
Compared to similar units in the area, it IS a steal. I remember being approached when it was being built (?2006)but it sold out pretty fast (all 4 units selling for between 450-600k). However, looking back on it, I think I dodged a bullet. There is nothing elegant about this building = and these few blocks of Halsted seem to cater to weirdo, punk younger people (? where they live b/c I know they can’t afford to live in this neighborhood). Plus there are a lot of questionable bars in the area that also seem to attract a lot of riff raff. I personally don’t see many advantages living in this place compared with living a block away (aldine, buckingham) where you can get a similar sized unit for about the same price (although they will likely not be newer, don’t have not direct elevator access to your unit, and may not be as upgraded – I guess there are trade-offs).
What do these comps do to nearby units for sale? I think the answer is obvious – at least right now. With 40% of Chicago August sales either short sales or REOs it is clear that only the best deals are selling – except for highly desirable properties without a lot of distressed competition.
why wouldn’t they mention direct elevator access to your unit? I thought this was one of the more unique features of these units…
I think that this one should go really fast – remember, you have to factor in the “gay” factor – I am sure there are a lot of wealthier gay singles or couples who may want to live right in the heart of boystown.
Good view for the parades!
However, I would not want to live on this busy street. I lived on Wellington just a few blocks west of the hospital and that street was busy enough and cannot imagine living on a busier street.
DING! DING! DING! DING! Winner!
If there is nothing wrong that is not being disclosed, then this one is gone in the less than 30 days.
The only negative I can see is that the unit appears to have no windows on the side of the building, hence little natural light.
“What do these comps do to nearby units for sale? I think the answer is obvious – at least right now. With 40% of Chicago August sales either short sales or REOs it is clear that only the best deals are selling – except for highly desirable properties without a lot of distressed competition.”
Right. So basically- these foreclosures ARE the market- and most else that isn’t a foreclosure has little chance of selling unless it’s severely reduced to compete with them.
There are dozens of 2/2s in the immediate vicinity of this one still trying to get $475k to $550k (or higher.) Clearly- that is no longer the market.
To me- that means in the next year or two (once these sellers figure out they won’t be able to sell) we’re going to see an even greater wave of foreclosures and short sales.
I know the location is great and I am not arguing that it is not a great deal. It is. But the rooms seem small and dark and there is little outdoor space, just a small balcony with no view. I, for one, wouldn’t purchase it even at this price. It doesn’t seem at all livable for the long term.
“Right. So basically- these foreclosures ARE the market- and most else that isn’t a foreclosure has little chance of selling unless it’s severely reduced to compete with them”
I don’t know Sabrina – I think that there are still a LOT of really picky people out there who will actually pay a premium to live where they want to live. It doesn’t seem logical – but believe me I see it everyday. Money/price is obviously a top factor, but there are many other factors that come into play (as people realize that this is where they are going to be living). A lot of people don’t want to compromise.
An example is the building in which I own down the street 3232 Halsted. The unit that is directly next to the unit featured on this site a few weeks ago is now under contract (H202)- it makes no logical sense because the unit that was featured is the same size and was offered at 375. The one that is under contract is slightly LESS upgraded, but has a slightly bigger outdoor space and one extra parking space. This was listed for 459k and under contract for not much below that. So basically, someon paid 85k extra for an extra parking space and a slightly bigger patio (with a less upgraded unit with not view). It doesn’t make sense to me, but it obviously made sense to some buyer.
“that means in the next year or two (once these sellers figure out they won’t be able to sell) we’re going to see an even greater wave of foreclosures and short sales.”
Two caveats: 1) As I said there are still some highly desirable property types that don’t have a lot of distressed competition and these seem to be immune. 2) I’m running into more and more people who want to do a short sale but probably don’t qualify because they have enough assets to cover their loss or enough income to stay put but they can’t really afford to wipe out their life savings. So they stay put.
Does anyone else see the correlation between the lack of sales volume and the trickle of foreclosures entering the MLS?
At least the original buyer had some skin in the game before it went into foreclosure. He put down 1.65% – $9,000 – on a $543,500 house.
Clio – buyers can be as picky as they want when they can borrow as much money as they want with impunity. However when the free money spigot is turned off, then the true value of something becomes apparent.
Will the $350k 2/2 (with a 20% or $70k down payment) be the new normal?
How many cribchatters today have $70k down payment saved AND are looking for a new condo?
Maybe $350k is just a false bottom…
Jeesh have fun paying those taxes for a year until you can get them appealed
and is this an elevator building? Private elevator to your unit would make this easily a deal at 350k.
4 flights of stairs though…. meh
“= and these few blocks of Halsted seem to cater to weirdo, punk younger people (? where they live b/c I know they can’t afford to live in this neighborhood)”
clio, just a heads up, this elitist “book by cover” statement that wasnt meant in jest is why you get flack.
and dear gosh whats with the taxes? and wouldnt this scare the common buyer? “Sold as-is. No disclosures provided. Buyer to verify rm cnt, zng/dim, schl distr, insp, compli, escrws”
Dull looking building on a busy street… I wouldn’t pay this much to live over a store. It’s amazing that someone paid over $500,000 for this at one time. Maybe $350,000 is a deal at this point, but I still hate that it’s on a busy street with a store on the bottom.
“Right. So basically- these foreclosures ARE the market- and most else that isn’t a foreclosure has little chance of selling unless it’s severely reduced to compete with them.”
No Sabrina. Volume at depth is the market. One forclosure doesn’t satisfy the quantity demanded at that price. If you can show a depth of similar forclosures at the same price that is deep enough to satisfy Chicago condo demand in this segment, your statement would be correct. You ever see the disclosure “one available at this price” at the bottom of a car ad? Last time I checked REO foreclosures represented less than 100% of sales.
You also assume the list price is the final price. The only thing that matters is printed transactions. In fact and as you know there are often competitive bids in these situations. I know people who feel they overpaid for forclosures due to the auction effect — bidding it up to get the “steal”. Then they find the property had some issues that were undeterminable until it was resided in / rehabbed.
Cookie cutter Green Zone 2/2’s outside of the Core are headed back for 300K.
All of them.
Who knows where they head after that.
I’ve said it on here before, but it’s not getting much traction: entry level office jobs, operations office jobs, and the entire management structure that goes with them will not exist in this country in 5 years. Further, any job that can be done remotely will be done so from outside the country.
Have you been given more work from home days lately? Your company is testing the efficiencies of moving your work offshore.
Despite the claims on this site, not everyone is a rainmaker or a CEO. Like 75% of the white collar jobs in this town are operations related. Yikes!
This is not the bottom.
Busy street and ugly IMO. What is it about this place that commands 350? The listing from the link above says year built is 2001, not 2006. What is the sf?
“and dear gosh whats with the taxes?”
forget my previous comments about taxes, because the 8k in the listing is nothing.
when you get your tax bill AFTER THANKSGIVING due December 22 it will be 9.5k and then you will go to appeal by the time you get all your stuff together and head down to the assessors office you will receive your first installment bill in feb due i think march first.
then IF you win your appeal and you escrow your taxes your mortgage company wont adjust your escro until they receive the second installment in october 2011.
have a happy wednesday 🙂
Not sure 75% of white collar jobs are operational. And if anything, Chicago has done a good job attracting employers to the city. I hope the next mayor continues that legacy of course.
I had to check my calendar to see if this was 1999 or not. Even if we are talking about white collar operational jobs, that ship sailed long ago. If anything, service levels have shown that this move is reversing, though I doubt anyone in their right mind locates a call center near Chicago.
On the other hand, the violence and service levels in the city vis a vis the suburbs is and should be a huge concern for any would-be Chicago homebuyer.
Case in point, look at Schaumburg.
Groove why do you think taxes will increase so much? Did EAV change dramatically for 2009?
“Groove why do you think taxes will increase so much?”
dramatic exaggeration, to rant out a point.
“Groove why do you think taxes will increase so much? Did EAV change dramatically for 2009?”
ALL* of the commercial/industrial property in the city is getting a major cut in their AVs b/c of the RE market, which will shift the tax burden to Residential. Anyone who didn’t get a 10%+ decrease in AV this year should expect higher taxes this year.
*more dramatic exaggeration
“*more dramatic exaggeration”
I hope so, because this isn’t true as far as I know it. Commercial / industrial generally gets killed by the city because companies don’t vote…
“Clio – buyers can be as picky as they want when they can borrow as much money as they want with impunity. However when the free money spigot is turned off, then the true value of something becomes apparent. ”
HD — oh how silly you are. Don’t you know about contract sales? They are all the rage nowadays. Forget about FHA, Clio is happy to sell you his crappy developments with 10% down @ a 6% interest rate.
“Commercial / industrial generally gets killed by the city because companies don’t vote”
But they do fund the campaigns of noted tax appeal lawyers Mike Madigan and John Cullerton and their good friend, board of appeals president Joe Berrios.
Why do you think the tax bills are coming out at T’giving, *really*? If the bills aren’t going to be *much* higher for voters, why the delay? And if you believe Berrios, Bob has a bridge to sell you.
“I hope so, because this isn’t true as far as I know it. Commercial / industrial generally gets killed by the city because companies don’t vote…”
i will say also that i have heard for a while this year the tax ratio will shift a bit (not as much as anon (ufo) is implying) to the residential.
its all hearsay but the hearsay of the tax bill being after elections came true and i had it confirmed when casually talking to a person that works for the assessors office last month. (i think they are announcing it today it will be late November).
we will see, but i think when you see your bill you will be pissed and like the common man wont be able to do a impromptu calculation to figure out how your getting hosed.
vote alexi 😉
“Mike Madigan and John Cullerton and their good friend, board of appeals president Joe Berrios.”
Yeah were is madigan throwing the arms up in the air to help the common man on this one.
and the best part Berrios and good ol hollihan finger pointing game is only now being reported even though this has been a issue for a while now.
Anon, I will put it this way — the state of IL isn’t paying corporate income tax refunds, yet individual tax refunds get paid right away. Doesn’t that tell you something?
Same thing for property taxes on commercial and industrial property. We fight it and it goes up on a relative basis every year.
They announced the approx. property taxes mailing date yesterday.
http://newsblogs.chicagotribune.com/clout_st/2010/09/cook-county-property-tax-bills-wont-be-out-until-around-thanksgiving.html
“Anon, I will put it this way — the state of IL isn’t paying corporate income tax refunds, yet individual tax refunds get paid right away. Doesn’t that tell you something?”
Different pool of people who benefit from the work. Mike Madigan and John Cullerton can’t pay their mortgages unless their biz clients get reductions in their property taxes.
Why do you think they want their buddy Berrios to be Assessor? If the first pass assessments are all over the map, then appeals become slam dunks and the businesses pay for phantom reductions.
Not that I’m suggesting that there’s a future RICO prosecution for these guys or anything–just that that would be one way to game the system, if the folks running it were so inclined.
Also, even Houlihan has stated that there will be a shift from biz to individuals, at least through the first assessment cycle, which is, um … let me check … NOW, for the city.
I will believe it when I see it, I guess.
Hi All,
My parents own the house next door – I know the building well. We watched in being built. It is very good construction. There is an elevator. The units are really nice. There is the front deck, but also a space next to the stairs in teh back. You’re right, no windows on either side of the building. HOWEVER, depending on which unit is being sold, there is one condo that has AWFUL owners. (Using a megaphone & throwing glass bottles from the roof, etc…I really hope they’re the ones that left!) The neighborhood is fine. Really only gets loud on Market Day and Pride weekend.
Taxes – Yes, they definitely suck. They have for years. The whole street is commercial. You can appeal, but they go up every chance the city gets.
“Different pool of people who benefit from the work. ”
I don’t see how this is any different. Broke agency needs money so they stiff those who don’t vote. Medium and small businesses are hopping mad about the tax issue in the state, I can tell you that much. True state taxation statutes have different rules they can play by, but the overall ability to manipulate is the same.
And since state of IL = cook county, I have to think there is overlap there.
“I don’t see how this is any different.”
Which *individuals* as “private” citizens get to put money in their personal bank accounts *legally* out of the unpaid corporate income tax returns?
Compare this to the well-known individuals who are well-established to be putting money in their personal bank accounts as a result of corporate property tax appeals. And in no jeopardy of being prosecuted for embezzling public funds.
If you still don’t see the difference, take the rest of the day off and get some rest, then read this post again tomorrow.
There’s been a rash of burglaries in my neighborhood lately:
From: XXXXXXXXXXXXXXXXX XXXXXXXXXXXX
OIPA
Subject: Neighbors report 3 burglaries/attempts in past 2 days; prevention tips
To: oipa@yahoogroups.com
Date: Tuesday, September 28, 2010, 10:20 PM
Hi everyone–the benefit of email is that info reaches many immediately. Lately, people have been emailing OIPA with news of crime/attempted crime that impacted them. We’ll do our best to pass it along so that neighbors can be forewarned of any patterns.
As always, call 911 if there is an immediate danger. Call 311 to file a police report after the fact. Below, messages from 3 neighbors and crime prevention tips from a 17th District seminar.
#########
Today, Tues., 9/28, day time: Just thought we should let you and the rest of the OIPA readers know that while we were at work today someone tried breaking into our home. We live at (4000 block of)W. Waveland. They tried getting in through the back living room windows.
We have a privacy fence that probably offered the best way to work unnoticed. In any case they tried to pry open the windows every which way but were unsuccessful getting in. The windows were not locked closed but the safety latches on the side were activated. It was a wake up call to us to make sure our windows are always locked shut (when we leave the house). We talked with most of our neighbors but no one was around today to see anything suspicious. I will be filing a police report shortly.
Thanks, XXXXXXXXXXXXXX
##########
Today, Tues, 9/28, 2 AM: Last night (2am) our neighbors called us after calling the police because they saw two men were attempting to get into our yard. The police came in full force but in the meantime the robbers took our mailbox and one of them ran with it into the alley.
The police apprehended the guy with our mailbox and we have it back. The other guy got into a dark SUV and got away. We will show up in court to make sure the one guy gets his due.
Please alert the neighborhood to lock down anything they have in their yards and watch for the dark SUV. We think it was a Blazer or Explorer.
Thanks, XXXXXXXXXXXXX, 3800 block of N. Kildare
########
Sunday night to Monday morning, 9/26-27: I wanted to put the word out that our car (3700 Kostner) and a friend’s car (3800 Kenneth) got broken into either last night or this morning. Looking for quick things and money. Got a digital camera from our car.
Thanks, XXXXXXXXXXXXX 3700 block of N. Kostner
#########
If you want a fuller picture of what’s happening in your immediate area, subscribe to EveryBlock. You can set the parameters/streets, and get daily updates about everything that goes into the public record. Crime, restaurant reviews, real estate listings, etc.
Now, a summary of a burglary prevention seminar sponsored by the 17th Police District.
And there’s been a number of strong arm robberies too.
Just like that scumbag who beat up those Bucktown girls he said, “Let’s go rob some dumb a**holes” those undesirable elements from south and east are driving into the green zone to “rob some rich a**holes”. Beware of buying in the city. We may be returning to 1970’s style urban crime and grit. See the movie French Connection for an idea of gritty 1970’s urban life (although that was NYC it could have been Chicago too).
good times was set in chicago.
(Thelma had a nice bod)
“If you still don’t see the difference, take the rest of the day off and get some rest, then read this post again tomorrow.”
I see what you are pointing but I also know perceive that the phantom appeal kickback is not as big as you think (perhaps we need more friends in high places). Unless that is what you do and you know something I don’t of course.
HD — as usual you generalize according to anecdotal evidence. It is a common bias, but citywide crime stats are actually down, though shootings are up.
Before you fly off the handle though, I happen to agree on this one. But couldn’t people get a good alarm system and feel better off — Alert Protective does a very good job — local co, excellent customer service, consulting and low maintenance fees.
Personally, I would never live in the city without one, in addition to a CCTV system and possibly a buzzer fence if the neighborhood dynamic supports it.
“those undesirable elements from south and east are driving into the green zone to “rob some rich a**holes”.”
True.
let’s not forget the attempted rape at Foster Ave beach, and the actual rape at 1100 W. Dickens. In the latter case the perp’s home address was 8000 S. St Lawrence, so he obviously traveled up into the Green Zone. You could look at it as a premeditated racial hate crime, why didn’t he stay in his own hood and rape one of his own people?
“Personally, I would never live in the city without one, in addition to a CCTV system and possibly a buzzer fence if the neighborhood dynamic supports it.”
doodes take a anti-anxiety pill or something. i live in the hood and routinely leave my car door unlocked and my windows unlocked, no alarm system on the car or house but i do have a louisville slugger in the trunk and in the bedroom.
maybe get a alarm for the garage and dont accidentally leave the garage door open and you will be ok
“the phantom appeal kickback is not as big as you think”
Well, the phantom appeal kickback may be overblown, but the *fact* that the way tax appeal lawyers earn their $$ is by winning tax appeals cannot be disputed. And the guy who runs this state has the following on his firm’s homepage:
“Founded in 1972, Madigan & Getzendanner specializes in ad valorem real estate taxation. It is one of the premier firms in this practice, providing legal representation at every stage of the tax assessment appeal process to a wide spectrum of significant properties situated in the Greater Chicagoland area.”
If that doesn’t stink, I don’t know what does.
“maybe get a alarm for the garage and dont accidentally leave the garage door open and you will be ok”
But you have a different standard, groove. You’re scared by too many white people, rather than too few.
JMM: Have you ever seen the wire?
” ASSISTANT PRINCIPAL: So for the time being, all teachers will devote class time to teaching language arts sample questions. Now if you turn to page eleven, please, I have some things I want to go over with you.
ROLAND “PREZ” PRYZBYLEWSKI: I don’t get it, all this so we score higher on the state tests? If we’re teaching the kids the test questions, what is it assessing in them?
TEACHER: Nothing, it assesses us. The test scores go up, they can say the schools are improving. The scores stay down, they can’t.
PREZ: Juking the stats.
TEACHER: Excuse me?
PREZ: Making robberies into larcenies, making rapes disappear. You juke the stats, and major become colonels. I’ve been here before.
TEACHER: Wherever you go, there you are.
“JMM on September 29th, 2010 at 3:48 pm
HD — as usual you generalize according to anecdotal evidence. It is a common bias, but citywide crime stats are actually down, though shootings are up. “
Juking the stats, Juking the stats:
http://www.youtube.com/watch?v=eCNLiHmEUxA
anon (tfo) is right. If you didn’t appeal your taxes to the Board this year you are getting a major hike in your tax bill. Commericial got a 25% reduction on average. The equalizer set a new record high this year. Residential is going to pick up the bill for the commericial reductions.
“If you didn’t appeal your taxes to the Board this year you are getting a major hike in your tax bill.”
We’ve seen a few example on CC of props that got meaningful (10%+) AV reductions without appeals. And, for many of us, an appeal would have been a wasted effort, as everything that’s a reasonable comp is *very* similarly assessed.
And, I think there’s more than one person here in Groove’s situ, with un-assessed improvements that make an appeal a bad idea.
“And, I think there’s more than one person here in Groove’s situ, with un-assessed improvements that make an appeal a bad idea.”
This must be commonplace as earlier this year I had a coworker in this boat. None of his tens of thousands of dollars of upgrades and even a building addition were ever recorded.
“Don’t you know about contract sales? They are all the rage nowadays. Forget about FHA, Clio is happy to sell you his crappy developments with 10% down @ a 6% interest rate.”
ABSOLUTELY – seriously, I know you wrote this as a sarcastic comment, but I would be extremely happy to sell any of my houses/condos w/ 10% down @ 6.0% – who wouldn’t? (only mistake is that my places are very nice – not “crappy”) – OK, off to experience L.A. nightlife!!!
“But you have a different standard, groove”
very true, i guess growing up in the city and not the “safe” parts help me acquire a built in “oh shyt lets get out of here” mental alarm.
too much news can make anyone way to twitchy. i am just tired of burb folk and “safe” area chicagoans acting like its dangerous in the city (i.e. scary driving down western).
not saying let your guard down but just have a sense about you and your surroundings and you will be ok its really not that bad unless you live on the south side (not all parts) or uptown, well and parts of Rogers park. actually RP and uptown scare me more than the south and west side, its too unpredictable and random to make me feel comfortable.
yes shyt is a bit more rough now but with a recession/depression you will get more crime and desperation but having a CCTV, armed guards, and a moat is going over board.
clio have a safe trip, i still havent hit up LA yet but hit up the rest of cali and have to drag wifey back to the plane.
have a great time
“I think that this one should go really fast – remember, you have to factor in the “gay” factor – I am sure there are a lot of wealthier gay singles or couples who may want to live right in the heart of boystown.”
LOL OK…by this statement it is obvious you do not keep up with other urban areas where ‘the gays’ have gone through and revamped dying areas and just as fast have moved on to the next up and coming area. Boystown, IMHO, is in it’s final years of being exclusively gay as evidenced by the more adventurous and open minded str8 couples who appreciate all the rebuilding of the hood and who know, based on other major cities change of occupants of certain areas that their gay next door neighbor will soon be starting their own families and start heading to the suburbs.
“Commericial got a 25% reduction on average. The equalizer set a new record high this year.”
Please provide support for this statement.
HD — No one likes Weis and no one is going out of their way to juke any stats. Their pensions get paid out either way.
LOL. Anyone who thinks “Boystown” was ever “exclusively gay” should come to my bridge open house this weekend.
Seriously, where do people come up with this stuff?
“Seriously, where do people come up with this stuff?”
Westloopelo is hilarious and off in his own little world. Clio is too. Unfortunately the moderator only censored clio’s hilarious comment in this exchange.
JMM – I spent two minutes looking for the story on SEcond City Cop saying that stats are juked all the time, but alas, I couldn’t find it. The two off hand that I can remember was the home invasion in lakeview that was downgraded by watch to criminal trespass! The other was IIRC that shooting are categoried by incidents rather than by the number of people shot or shots fired, so if two gangbangers shoot 4 people, it’s still categorized as one shooting incident for the stats.
There are plenty more.
“The other was IIRC that shooting are categoried by incidents rather than by the number of people shot or shots fired, so if two gangbangers shoot 4 people, it’s still categorized as one shooting incident for the stats.”
Um, if it’s all at the same location, that makes sense.
Also, if the crime is downgraded, it still counts as a crime. To get the crime rate to go down, watch would have to completely erase the incident–no report at all, rather than changing crime x to crime y.
Also, iirc, the violent crime rate stat is up slightly, while overall crime rate stat is down.
IDK,
with less police out on the streets smaller crimes may get the side step to me its the same amount of crime just petty stuff is not typed up.
and remember people “no snitchin”
“with less police out on the streets smaller crimes may get the side step to me its the same amount of crime just petty stuff is not typed up.”
Which is not “juking the stats”; it’s confiscating baggies/spray paint/whatever and giving the kids a warning rather than running them in to take up 3 hours typing reports that end up with probation-maybe. Frankly, it’s smarter police work when your force isn’t the size of NYC’s.
“Frankly, it’s smarter police work when your force isn’t the size of NYC’s.”
i cant agree with you more there my internet friend, it isnt “juking the stats” but the absence is lowering the stats by default.
stat are just that random numbers quantified, its there to “HELP” the over all perception not “DEFINE” it.
LV was never “exclusively” Boystown just as Andersonville is not exclusively Girlstown. They have always been “diverse” nabes to some degree (as the abundance of private and public schools in both areas can attest). Those are generalizations used as marketing tools.
At $350k this is a great deal. It is a larger than usual 2/2 floor plan with extra perks such as elevator that opens up directly into your apartment, roof deck, attached heated garage parking, Viking appliance package, surround sound throughout. These units sold at very high prices in 2006-2007 and will likely re-adjust when they are re-sold as foreclosures, short-sales or re-sales. I have photos of the penthouse unit in this building 3310 N Halsted #5 if anyone is interested in viewing.
aaron, it is already contingent with several offers. of course it was a great deal!! I love the penthouse unit of this building and considered buying it when it was for sale (?2 years ago I think it was in the upper 500s).