The Pearson, then and now

Promotional materials for The Pearson, 250 E Pearson St, Chicago Promotional materials for The Pearson, 250 E Pearson St, Chicago

My latest random selection from the Yo file cabinets is a promotional packet for The Pearson, the westernmost of Related Midwest‘s three “Residences on Lake Shore Park” in Streeterville. The 35-story high-rise at 250 E Pearson St was completed in 2003, about a year after our folder of floor plans and renderings was put together.

The DeStefano & Partners-designed tower — described at various times as “strong,” “distinctive,” “powerful,” “stunning in design,” “intelligent in function,” and “among Streeterville’s most notable residential buildings” — comprises 180 condos (each with at least 1,144 square feet), a fitness center, a penthouse club room with kitchen, a sundeck, storage areas, and a garage.

Standard features and finishes included 8′-8″ ceiling heights and hardwood floors in the living and dining rooms; kitchens with granite countertops, hardwood floors, and GE appliances; master bedrooms with wall-to-wall carpeting; master baths with marble floors, slab marble vanity tops with double sinks, oversized soaking tubs, and marble showers with glass enclosures; balconies or terraces per plan; and washer / dryer hook-ups.

In May 2002, one-bedrooms with 1,144 to 1,855 square feet were priced from the $320s to $450s; two-bedrooms with 1,565 to 1,954 square feet were priced from the $520s to $1.02 million (that’s a 1,611 square-foot, two-bedroom / two-bath “F”-tier home above); and three-bedrooms with 2,017 to 2,122 square-feet were priced from the $910s to $1 million. Deeded indoor parking spaces sold for $40,000 apiece.

In the past 12 months, two one-bedroom condos at The Peearson have sold in the $420s and $450s, and eight two-bedrooms have sold from the $640s to $870s. Current listings in the building include:

  • Unit #1104: a 1,144 square-foot one-bedroom / 1.5-bath with one parking space listed for $449,000. On the market 63 days with no price changes. Last sold in November 2007 for $510,000. Listed by Jennifer Ames of Coldwell Banker.
  • Unit #2303: a 1,835 square-foot two-bedroom / 2.5-bath with one parking space listed as a short sale for $799,000. On the market for 124 days; originally listed for $1.04 million. Last sold in December 2005 for $899,000. Listed by Jolanta Ruege of Koenig & Strey.
  • Unit #1101: a 1,931 square-foot two-bedroom / 2.5-bath listed for $925,000. On the market 180 days with no price changes. Listed by Nancy Thomas of Koenig & Strey .
  • Unit #1003: a 1,695 square-foot two-bedroom / two-bath listed for $980,000. On the market 267 days with no price changes. Listed by Kimberly Jones of Baird & Warner.
  • Unit #1001: a 1,931 square-foot two-bedroom / 2.5-bath listed for $995,000. On the market for 24 days with no price changes. Listed by Terry Petit of Koenig & Strey.
  • Unit #2106: a 1,899 square-foot two-bedroom / 2.5-bath listed for $995,000. On the market 136 days with no price changes. Last sold in July 2006 for $860,000. Listed by Chezi Rafaeli of Coldwell Banker.

The median tax for a Pearson condo is $9,527, according to Blockshopper’s building profile.

Along with the homes listed for sale, one 22nd-floor two-bedroom is listed to rent for $4,000 a month, and one 26th-floor three-bedroom is available for $5,900.


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