Chicago Residences, 35 Finch Ave E: Menkes Value Near Yonge and Finch

Chicago Residences at 35 Finch Avenue East is the building I bring up when a buyer wants Yonge and Finch but cannot stretch to the newer towers. It is a 2001 Menkes building with a full amenity package and a building average well under $600 per square foot. The catch is that suites rarely come up, and when they do, many need updating. I’m Jatin Dua, RE/MAX Quantum Realty.

A Menkes tower at the top of Yonge

Menkes was one of the main builders of North York Centre’s first wave of condos, including the Empress Walk towers and Empress Plaza II to the south. Chicago Residences belongs to the same era and the same approach: a mid-height tower with a staffed lobby, a recreation floor and practical layouts, built for owner-occupiers as much as investors.

At 24 storeys it is shorter than many of the towers that have gone up along Yonge since, which means fewer suites sharing the elevators and amenities. With 233 suites, it is mid-sized: big enough to carry a pool and a concierge, small enough that the board and the manager can know the building well.

The location is Finch Avenue just east of Yonge, near the northern end of Line 1. The data panel on this page shows the station and walking details. For commuters who start at the end of the line, getting a seat on the morning subway is a real daily advantage.

Layouts that start at a real one-bedroom

Condos.ca puts suites at about 593 to 1,471 square feet. There are no micro-studios at the bottom of that range, so the smallest suites are full one-bedrooms, and the largest are two-bedroom-plus-den and family-sized plans that are getting hard to find in newer towers.

REW lists ensuite laundry, air conditioning, open-concept living areas, balconies and granite counters as unit features. It also lists carpeted floors, which tells you a lot about the original finish. Many suites will have been updated, but some will still have original carpet, kitchens and bathrooms, and those are where the opportunity is.

If you are buying to renovate, budget for flooring and a kitchen at minimum, and ask the property manager about the corporation’s rules for renovations, noise and underlay before you commit. Sound transfer through hard flooring is a common complaint in towers of this age, and many corporations require an approved acoustic underlay.

Exposure matters as much as size in a 24-storey building. Upper suites usually have more open outlooks, while lower suites can sit in the shadow of newer neighbours. Ask which direction the suite faces and what is planned on the lots around it, and visit at the time of day you are most likely to be home, because light is the one thing a renovation cannot fix.

Parking in the fee, heat on you

The fee covers common elements, building insurance, parking and water. Condos.ca does not list heat, air conditioning or hydro, so plan for your own heating, cooling and electricity, and ask the seller for a year of utility bills.

Parking in the fee is worth more here than it looks. Near a subway terminus, demand for spaces is steady, and suites that come with a space resell more easily. Confirm whether the space is owned or assigned and where it is in the garage.

There were no suites listed for sale or rent when I checked, so I cannot give you a current fee per square foot from listings. Ask for the corporation’s current budget, and compare the fee on any suite you see with the 21 Hillcrest and Empress Plaza buildings to the south, keeping in mind which ones include heat.

What is changing on this stretch of Finch

The blocks around this corner keep adding buildings, including Olive Residences close by at 31 Finch Avenue East and the Princess Place buildings on Olive Avenue. More neighbours means more shops and services within walking distance, but also more competition when you sell.

For an older building, that competition is the main risk. Newer towers will always win on finishes and fitness rooms. Chicago Residences competes on price per square foot, suite size and the stability of an established corporation, so those are the things to verify before you buy.

Get a sense of the street at different times of day. Finch is a busy arterial road at the Yonge end, and suites facing Finch will hear more traffic than those on the quieter side.

What Chicago Residences costs

Condos.ca puts the building average at about $589 per square foot. That is one of the lower figures I see in the Yonge-Doris area, below 21 Hillcrest at about $633, Empress Plaza at about $671 and The Pinnacle at about $790. Part of the gap is age and finish, and part is the Finch address, which some buyers rank below the Empress Walk blocks.

With nothing listed when I checked, there is no current asking range to quote. That thin supply cuts both ways: buyers waiting for a suite here have little to choose from, but sellers are not competing against several identical listings. When a suite does appear, the ones with updated kitchens and flooring tend to set the top of the range, and original suites trade at a discount that should at least cover the cost of the work you plan to do.

For closed results, use the sold data on this page, or ask me for a building sold report and I will set up an alert for the next suite to come up.

Building specifications

Amenities at Chicago Residences

A pool, gym, sauna and guest suites behind a staffed lobby is a full package for a building of 233 suites, and the guest suites are useful if family visits often. A pool is also a big shared cost, so it is worth looking at its line in the reserve fund study.

Jatin’s honest take on Chicago Residences

Chicago Residences — frequently asked questions

Looking at Yonge & Eglinton, Davisville and North Toronto more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.