Wednesday, August 17, 2011

Rare opportunities, rare sales at 65 East Goethe in Gold Coast

65 East Goethe is tucked away in the tranquil setting between Goudy Square Park and the lake, yet offers grand luxury. We check in on sales.

Built in 2001, 65 East Goethe is one of the newest and most exclusive boutique buildings in Chicago's Gold Coast. Offering 24 hour doorman, luxury roof garden, concierge service and more the custom luxury homes were mostly sold unfinished buyers looking to customize units. With less than 20 units in the building opportunities and sales are not an every day occurrence.

From 2001-2005, there had been 13 MLS recorded closed units from $2 million (unfinished 3000 sq/ft) to $5 million for a completed 5000 sq/ft condo home sold by the development group. Several spaces were bought pre-construction or unlisted on the MLS.

The best, as it were, have been saved for last. Several high profile penthouse "raw spaces" are now listed for re-sale and available ranging from $4 million to $11 million- ten years after original construction began. These properties were never built-out and can be combined and sold as one if desired.

The most recent MLS recorded sale was $4 million in 2007 for the remaining maisonette with private entrance and 4 car garage...also sold as unfinished space with plans to customize. This was most likely a re-sale of the property from an early investor in the project.

Read more Gold Coast posts here

Goudy Square Park with 65 East Goethe in the background on a warm winter day.

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