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A Thousand Cuts for Re-Listed Streeterville Timber Loft

One of the funny ways owners and realtors adapt to evolution in the house-hunting public is to record many small price chops so that a property continuously makes noise on the Multiple Listing Service (and gets saps like us to take action). We could be wrong in the case of this gorgeous 2/2 timber loft, where numerous tiny price cuts logged over its first listing span (2009-10) could just signal utter chaos and confusion. But if it's indeed tactic, we've seldom seen it deployed with such fervor. It took 13 cuts in seven months to lower the asking price $100K, from $1.1M to $1M (neatly summarized in photoshop). The home then went offline until August of this year when it returned asking $839K. At this moment, she's yours for $799K. The 2,520-square-foot duplex is a fusion of two top floor units at the marvelous 540 N LSD and compiles attributes like very high ceilings, exposed brick, custom built-ins, top-of-the-line kitchen, and one of three private roof spaces (here's another). The $1,176 monthly condo assessment is a little steep, but $1M was also probably a reach.
·Listing: 540 N Lake Shore Drive, Unit 718-719 [Coldwell Banker]
·Lakefront Duplex Condo w/ Private Roof Rights Asks $495K [Curbed Chicago]