List Price: $649,999
The Property: This three-bedroom condo, with large terraces on its north and south sides, occupies the 16th-floor of a 17-story Lake View building that offers unimpeded panoramic views in most directions. As you will see in the video, the south terrace, with views of Wrigley Field and the Chicago skyline, is nicely finished. The much larger north terrace, with a terrific view of Lake Michigan, has not been finished; a buyer may want to turn it into a morning spot with coffee service since it is adjacent to the master bedroom.
The condo, situated on one of the building’s two penthouse levels, has three bedrooms, two baths, and a great-room layout that combines the living room, the dining room, and the kitchen. The seller, Philip Duncan, who bought the condo new from the developer three years ago (public records don’t reveal what he paid), installed many upgrades, including a sophisticated whole-home audio system and a handsome tile backsplash and other kitchen features. Also available are three in-building parking spaces, priced at $30,000 each. Two are rented, providing income for the owners, says Duncan’s agent, Robin Miner.
Price Points: Miner points out that the building’s unusual height (for its location), which should help maintain those unimpeded views, did make it difficult to set a price for the condo. The most directly comparable properties are in this building, and none of them have been resold. “So we priced it like a new three-bedroom walkup in the neighborhood and then added a little more for the views and the elevator,” Miner said.