List Price:  $1.499 million
Sale Price: $1.3 million
The Property: This three-bedroom condo is on two upper floors of Erie on the Park, an ultramodern steel and glass structure at 510 West Erie Street. The 24-story building is one of two condo high-rises (along with Kingsbury on the Park) designed by the…

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Sale of the Week: Home, Home on Lagrange—River North

List Price:  $1.499 million
Sale Price: $1.3 million
The Property: This three-bedroom condo is on two upper floors of Erie on the Park, an ultramodern steel and glass structure at 510 West Erie Street. The 24-story building is one of two condo high-rises (along with Kingsbury on the Park) designed by the…

List Price:  $1.499 million
Sale Price: $1.3 million
The Property: This three-bedroom condo is on two upper floors of Erie on the Park, an ultramodern steel and glass structure at 510 West Erie Street. The 24-story building is one of two condo high-rises (along with Kingsbury on the Park) designed by the architect Lucien Lagrange that overlook a new two-acre riverfront park in River North (at West Erie and North Kingsbury Street).

Shaped like a parallelogram, Erie on the Park has irregular cutouts for inboard balconies, as well as some projecting balconies. This unit has one of the deeper recesses visible just below the top of the building; from there and other spots in the condo, there are views of the city to the east, the south, and the west. Occupying parts of the 20th and 21st floors, the place has a contemporary kitchen, a master suite with a separate sitting area, and two other bedrooms, each with its own “en suite” bathroom. Wide-plank pine floors, expansive windows, and exposed structural beams give the space a clean modern feeling.

Steven Tomashefsky, a partner at the law firm Jenner & Block, and Rebecca Sive, a consultant, paid  $1.405 million for the unit in August 2006. They listed it for sale in March 2008, asking $1.499 million. In early October they had a deal to sell it for $1.3 million, a 7.4 percent loss from their original purchase price. The deal closed November 20th. Their agent, David Wolf, declined to comment on the sale, and Tomashefsky did not respond to a request for comment.

Price Points: Most other recent sales in the building have been for smaller condos, most of them situated on lower floors; they range from a sixth-floor studio that went for $204,000 to a 23rd-floor two-bedroom unit that went for $580,000. But the penthouses, like this one, are in a different league. There is another penthouse, on a higher floor, currently on the market with an asking price of $1.25 million; those sellers are offering two garage spaces as part of the deal, while Tomashefsky and Sive kept their two garage spaces out of the condo sale, instead pricing them separately at $35,000 each. Subtract that $70,000 from the price for the penthouse that is still on the market, and those sellers are asking $472 a square foot, compared to the $419.35 a square foot today’s sellers collected.

Listing Agent: David Wolf of @Properties, 773-432-0200

 

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