Renovated Carlyle condo gets $1.05 million markup from 2008 sale price


One of the 200-plus homes that went on the market this weekend is this 3,020 square-foot, three-bedroom / 4.5-bath condo at the Carlyle, the 40-story, 129-unit tower at 1040 N Lake Shore Dr in the Gold Coast. It’s worth noting simply for its list price of $2.68 million, which is a good 65 percent higher than its sale price of $1.63 million in January 2008.

That’s not ordinary appreciation, of course — the whole home has been completely renovated, “from the windows to the HVAC,” according to Nancy Nugent‘s listing. Unit 7A now features custom millwork in its island kitchen, a “work station,” a banquette, an alderwood-panelled library, 5-inch walnut plank floors, carpet in master and second bedrooms, Calcatta and Crema Marfil marble bath finishes, and a dry bar with wine cooler. The floor plan features views to the south and east, both from inside and from its east-facing balcony. (The building itself is located along Lake Shore Drive’s Gold Coast curve and overlooks Oak Street Beach.)

Assessments run around $2,320 a month, and 2008 taxes came out to $24,855 with a homeowner exemption.

Other condos in the Carlyle are listed from $900,000 (for a one-bedroom / 2.5-bath with 2,230 square feet) to $2.7 million (a 5,393 square-foot four-bedroom / six-bath), and have been on the market for an average of 146 days. Three listed homes, all with three bedrooms, have sold in the building in the past year at prices ranging from $1.36 to $1.67 million.

1040 N Lake Shore Dr, Chicago 1040 N Lake Shore Dr, Chicago

1040 N Lake Shore Dr, Chicago 1040 N Lake Shore Dr, Chicago

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