With a record number of new rental units under construction and a small but growing list of boutique condominium projects in the works, River North continues to be one of Chicago’s hottest neighborhoods offering convenience to the Loop and some of the city’s best dining and nightlife options. However, despite the area’s undeniable desirability, some of River North’s most thoughtfully designed (and photogenic) properties can be slow to sell due to overly ambitious prices. Take for example these two similarly priced but decidedly different homes that have just slashed $200,000 and $230,000 off of their respective asks.
Located in the award winning Perkins+Will-designed Contemporaine, this modern condo failed to find a buyer when it hit the market this summer seeking $1.4 million. Featuring exposed concrete ceilings, a natural stone accent wall, rich hardwood floors, three separate balconies, and high-end appliances, the three-bedroom home is now asking $1.2 million. HOA payments will run an additional $1,178 per month but include a pair of spots in the Contemporaine’s handsomely designed glass-walled parking garage.
Just one block to the southeast, this spacious timber loft in a converted 1924 building has knocked no less than $231,000 off its $1.35 million prior asking price. The warm and rustic home was recently renovated by Studio Dwell Architects and features three bedrooms plus den, a remodeled kitchen, updated bathrooms, and a balcony fronting Hubbard Street. The assessment of $368 is surprisingly low considering the age of the structure. Attached deeded parking is not included but can be bought for an extra $40,000.