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159 E Walton Place
Chicago, IL 60611
$1,595,000
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
2912
Property Description
Located in the heart of Streeterville Gold Coast on Walton Pl! One of the most desirable condo buildings in Chicago & most sought after location in the city! The seller is wiling to sell completely furnished. Most of the furniture is NEW from Restoration Hardware. PRICE INCLUDES 2 GARAGE PARKING SPACES! Everything is located out your front door including shopping, restaurants, parks, Lake Michigan, Oak St Beach, Michigan Ave, Drake Hotel & Ritz Carlton Hotel! Indulge in the ultimate luxury living experience at the renowned Palmolive building with this highly appointed 3 bedroom, 3.5 bathroom masterpiece spanning over 2,912 sq ft. Prepare to be captivated as you step into the exquisite foyer. The foyer sets the tone for the thoughtful floor plan & upscale finishes. This home has been meticulously maintained & designed to perfection. This expansive layout offers a thoughtfully designed floor plan that separates the primary suite from the other two bedrooms, ensuring utmost privacy. The seller has recently customized many NEW updates including new quartz countertops & backsplash, new kitchen faucets, new on demand filtered hot & cold water, some new window treatments, all new LED recessed lighting throughout & new light fixtures. The entire home has been freshly painted top to bottom. The enormous living room elegantly sets the stage for first-class entertaining. As natural light floods through the large windows and the sophisticated fireplace surrounded with built-in shelves creates the perfect space. A proper dining room anchored allows for elegant dinner parties. The dining room is currently staged as an additional seating area. Off the dining room, prepare to be amazed by the culinary wonders that await in the chef's eat-in kitchen, equipped with top-of-the-line Wolf, Miele, and Sub-zero appliances. The countertops comfortably allow for multiple bar stools & there is plenty of room for an additional kitchen table. As you enter the large primary suite, you are greeted by an elegantly designed wall of closets & a large walk-in closet, meticulously crafted to accommodate your wardrobe in style. From custom shelving to ample storage space, this closet is a haven for organization. The primary bath features a luxurious soaking tub, along with a separate shower and double vanity. The second and third bedrooms are ensuite and both offer generous closet space. Additional features include a separate laundry room for added convenience & a convenient powder room. The Palmolive building offers unrivaled amenities such as a state-of-the-art gym, changing rooms, a rejuvenating sauna, a spa and the exclusive Beacon Club for residents only. Valet parking, 24-hour door service, an on-site manager, and a dedicated concierge ensure a truly white glove experience. Walton is a quiet street located East of Michigan Ave. & close to everything! Across the street from the Drake Hotel & next to the Ritz Carlton Club! Join the Ritz & enjoy the gym, pool, sauna, steam, spa, cafe & offices! This is an amazing world class amenity to have next door. Elevate your lifestyle and bask in the epitome of luxury living at The Palmolive building. This is an opportunity to own a home that exudes timeless elegance, refined craftsmanship, and an unparalleled level of sophistication. The monthly assessment reflected includes two garage parking spaces. This home is a must see! Seller is able to close quickly if needed. Located in OGDEN INTERNATIONAL SCHOOL DISTRICT! The building is a condo building (not a co-op).
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1929
MLS Number
11970470
Location
Address
159 E Walton Place
City
Chicago
State
IL
Zip Code
60611
County
COOK (NORTHEAST CHICAGO)
Listing
Provider
Jameson Real Estate LLC, original listing
Name
Jameson Real Estate LLC
Phone
(312) 335-3291
Office Name
Jameson Sotheby's Intl Realty
Office Phone
(312) 751-0300
Agent Name
Lauren Dayton

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.