I am thinking of buying a condo 100 E. Walton. Any comments on this property?

Asked by Sandra, Chicago, IL Mon Nov 19, 2007

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Bob, , Chicago, IL
Fri Apr 2, 2010
Excellent location. Contrary to what some real estate agents have suggested, the assessments are not out of the ordinary. In fact, they are in line with other full service condominium buildings in the Gold Coast. The reality is that any full amenity building that's about the same age as this one is going to have assessments in the same ballpark.

Something that's very good about this building; it has updated key components (rebuilt and updated its elevators, plumbing risers, etc.) and renovated its lobby without implementing any special assessments. From that perspective, the building's association stays on top of modernizing its infrastructure and common areas. That's going to benefit you and your buyer when it comes time to resell.

In addition, Walton has evolved into a very nice street. The recent addition of The Elysian Hotel, high end shops and condominium residences have made the building and its location even more appealing.
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Sandra, Home Buyer, Chicago, IL
Mon Nov 19, 2007
Thank you so much for the info
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Patti Pereyra, , Chicago, IL
Mon Nov 19, 2007
Hi Sandra,

The Walton Colonnade is in the absolute heart of the Gold Coast, so if location is what you want, location is what you get.

The assessments, as indicated by Stacy, are on the high end, but it is a full amenitiy building (pool, exercise facilities, party room, and 24-hour doorman), and they are not disproportionately high compared to other high rises in the Gold Coast. Those buying in high rises in the Gold Coast are going to expect those types of assessments.

Over the past 3 months, the average market time for 1 bedroom/1 baths has been 3 months.

Unlike a lot of older high rises, this particular building does allow washers and dryers in the units, so that is a plus.

The parking in the building is leased, so be sure there is availability if you own a car.

It is an older building (1972), so be sure to look into the health of the reserves and inquire about any special assessments.
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Stacy Karel, Agent, Chicago, IL
Mon Nov 19, 2007
monthly assessments are really high which does make units more difficult to resell (market times are high even though prices for the units are low)... but it is a "can't beat" location. I would refer to your real estate agent to do a more thorough comps analysis.
Web Reference:  http://www.condochicago.com
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