The Price of a Two-Bedroom Chicago Penthouse Revealed

by Mark Wellborn

Late last week, we asked readers to guess the price of a Chicago top-floor two-bedroom condo, with the knowledge that it is a short sale. Here is a brief description of the unit for those that missed the post:

The duplex has over 1,200 square feet of space and it has a large private deck and two fireplaces. The best feature of the home may be the huge loft that serves as the master bedroom (see below).

The Price of a Two-Bedroom Chicago Penthouse Revealed: Figure 1

So how much would you have to plunk down for this property? The price: $235,000. Because it is a short sale, gauging the asking price was not an easy feat. Here is the listing.

The guesses ranged from a low Price is Right $1 to a high of $482,000. Congratulations to Mike for his spot on guess of $235,000. Your UrbanTurf t-shirt is on its way!

See other articles related to: guess how much, chicago

This article originally published at http://dc.urbanturf.com/articles/blog/the_price_of_a_two_bedroom_chicago_penthouse_revealed/2911


  1. sgb said at 10:38 pm on Thursday January 27, 2011:
    I just want to point out that the address of this spot is horrendous. Clybourn ave has terrible bus access, and the closest L stop is 1.5 miles away (the closer clybourn stop is metra, so it doesn't count). Yes, its much cheaper than DC. But in the winter, you'll realize why the cost of this is so low. Pick a location with better mass transit access and prices go up significantly. On the other hand, its about 4 blocks to Sweet Mandy B's, so you are guaranteed good access to some damn good cupcakes.
  1. ILLinDC said at 11:33 pm on Thursday January 27, 2011:
    @sgb - this location is not horrendous. First, this place is located a block or two from Fullerton and Ashland, both of which have great routes. If you want to take the train, you can easily ride the bus on one of these streets to an L stop. Furthermore, this particularly area has great street zoning for parking so the owner of this place will have easy street parking on one of the side streets. Most people in Chicago have cars.
  1. ILLinDC said at 11:36 pm on Thursday January 27, 2011:
    I should also add that it has easy access to the expressway for people commuting downtown or to the suburbs.
  1. ILLinDC said at 11:43 pm on Thursday January 27, 2011:
    Finaly comment - how could you call the location horrendous? If you think Fullerton/Ashland/Clybourn is a bad place to be, what do you think of North and Wells? This place is in a pretty good location with quick access to the Lincoln Park, Lakeview, Webster Street area, and Wrigley.
  1. sgb said at 4:10 pm on Friday January 28, 2011:
    @ILLinDC - I actually used to live at North & Wells, which was fantastic. Two blocks to the brown line, 4 to the red, direct bus access to loop, and a short walk to the lake. The two locations are not comparable as this property requires at least one connection to a bus, then another to a train. A commute downtown easily can take an hour for this property, which is why its price point is so low. I think there are better properties in Chicago, especially North off the brown line or West off the blue line that exemplify Chicago's lower real estate costs.

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