Given Chicago's ever-changing skyline, downtown residences with unobstructed views of the city are increasingly coveted. And while high-end buyers remain willing to pay a premium for such units, there's no guarantee that a multimillion dollar view won't one day have a close neighbor — especially amid Chicago's current building boom.
The sight lines from buildings along the Chicago River and Lake Michigan, on the other hand, are far less cluttered, and generally offer residents more sweeping views of the city. That’s why unit 3103 at Kinzie Park Tower, located at the corner of Grand Avenue and the north branch of the river, is such a special property, says listing agent Harold Blum with @properties.
“You can see the entire skyline all the way from Lake Shore Drive and the Hancock Center down to the Sears Tower,” Blum says of the 31st floor condo. “You get the entire skyline plus the Chicago River.”
The 34-story Kinzie Park Tower, completed in 2000, boasts an angular southeastern wall with sweeping exposure to downtown. And with unit 3103's 43-foot stretch of windows in the living room, the views are dramatic no matter the time of day.
The 2,355 square–foot three-bedroom condo is listed for sale at $1.25 million. Recent updates include new hardwood floors, gut-rehabbed bathrooms, and remote-controlled window shades. It also has two outdoor terraces — one facing east and the other south — that are just big enough to seat two. An indoor parking space is available for an additional $35,000.
According to public tax records, the unit is owned by an executive in transportation and logistics. Blum says it was mostly recently used as a rental. Listing records show that the property was last purchased for $911,000 in August 2009.
In terms of upscale real estate, Blum says there’s a lot of value here — not only for the view and size of the unit, but for amenities like private park space. And with the wave of new investment and construction moving outward from the Loop, Blum suggests it’s a safe buy.
“With the amount of businesses coming into River North and the Fulton Market, it’s a very sound economic base,” Blum says. “New construction in the surrounding area starts around $800 per square foot, so there’s tremendous value in this unit.”