Well folks, seems like our seller figured out just what a prized possession this 4/4 duplex unit in Holabird & Root's Eddystone actually is. After several price reductions, the "mansion in the sky" (which we've celebrated twice before), has done an about face and jumped $300K to $999K— eclipsing its initial ask of $949K in February 2011. We'll see if it's a smart move (as a 'for sale by owner' listing, it's hard to know what kind of counsel is at the seller's disposal), but we suspect it's a response to the hazard of underpricing, which was the general sense among our readers when the price sat at $699K. We've groveled in length before the condo's majestic interiors, and we'll do it again: 20' ceilings, 2-story bay windows w/ lake views, a pair of 14th-floor balconies, walnut-clad library, built-in surround sound, ornate decor, and 4,000 square feet expandable to 5,600. What hasn't been discussed are the building's shortcomings, which our readers enumerated in the last post: no parking, no A/C, no sublets, and the chance of a whopping new assessment to go along with an already lofty one. Still, we bet some of you wish you'd pounced.
·Listing: Lake Shore Drive & Melrose [Zillow]
·"Mansion in the Sky" Still Searching for a Buyer [Curbed Chicago]