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    0for Rent

    Building Details

    Property Type:
    Condo
    Number of Storeys:
    22
    Number of Units:
    137
    Condo Completion:
    1990
    Condo Demand:
    High
    Unit Size Range:
    521 - 2,500 SQFT
    Unit Availability:
    Low

    Listing History for Chestnut Park

    Receive listing updates for Bay Street Corridor

    Amenities

    Visitor Parking
    Concierge
    Indoor Parking
    Party Room
    Security System
    Bike Storage

    Maintenance Fees

    Included
    Water
    Excluded
    Hydro
    Heat
    Air Conditioning

    About 55 Centre AvenueChestnut Park

    Not every buyer on the hunt for Toronto condos for sale requires something shiny and new. Those who prefer to purchase a home that’s tried and true can look no further than Chestnut Park. After all, it was built in the 1990s — a decade whose styles have made quite a comeback.

    Residents living at 55 Centre Avenue also share the building with a history-minded occupant. The Textile Museum of Canada is located in the building, as is its collection of artifacts that dates back nearly 2,000 years. Thankfully the museum is rather small, meaning residents aren’t bothered by hoards of tourists. The TMC takes up just 25,000 square feet of space in the building, and some even view it as an amenity in its own right.

    Speaking of small, Chestnut Park is an intimately sized building, with only 137 units in all. The tower reaches to 22 storeys, and its masonry is a lighter tone than more traditional red brick structures, giving the robust building a softer side.

    Although residents don’t access to too many flashy amenities, the homes at 55 Centre are generously sized — plus the City Centre neighbourhood is also stocked with everything one can ask for. Nevertheless, a 24-hour concierge is stationed in the building, and there’s plenty of visitor parking to go around.

    The Suites

    After entering Chestnut Park through the large brick archway that covers the front entrance, residents come home to suites that vary considerably in size. The units start at around 550 square feet and reach to approximately 2,200. Even with just over 100 downtown Toronto condos in this building, this property attracts a diverse group of homeowners. Between bachelor, junior one bedroom, two bedroom plus den, and penthouse suites, anyone from a single professional to a sizeable family — and perhaps their pets — can be comfortable here.

    Seeing as the building has been around for some time now, the homes inside 55 Centre are also diverse in appearance. Some units have been renovated over the years, while others are ready and waiting for buyers with creative pursuits in mind. Some homes boast solariums, while others feature multiple terraces, and many are equipped with large, bright windows.

    The Neighbourhood

    Located in City Centre, as the address suggests, 55 Centre is the ideal place for those who prefer to live an active, urban lifestyle. In fact, the building is just steps away from Toronto City Hall.

    While locals don’t always think to visit City Hall for fun, Toronto’s municipal building is quite the attraction. Not only is there a rooftop garden to explore during the warmer season, but the fountain at Nathan Philip Square (just in front of the building) turns into one of the city’s most popular skating rinks once winter hits. And best of all, a Toronto Public Library branch is situated on the ground level of City Hall, which can of course be used year-round.

    Foodies living at Chestnut Park are also in luck. The strip of Dundas West between University and Bay has recently been hailed as Toronto’s ‘Little Tokyo’ thanks to its scores of ramen shops and Japanese bakeries. Those willing to venture a little further can also find authentic Chinese food just west of University, where Chinatown begins.

    As for those who prefer to cook, groceries can be gathered at a number of places. One great option is the Lucky Moose Food Mart, an independent shop located beside the Art Gallery of Ontario, while The Kitchen Table is also just a short walk away, in the basement of the Atrium on Bay.

    Transportation

    Living in the heart of downtown Toronto means transportation is a breeze, with or without a car. Those looking to escape the city altogether can even hop onto a Greyhound bus, as the station is a five-minute walk away from 55 Centre. Alternatively, Union Station takes 6 minutes to reach via subway, where passengers can reach GO Transit and VIA Rail services, as well as the UP Express to Pearson International Airport.

    When traveling within the city limits, residents also have plenty of choices. St. Patrick Station is 150 metres away (or a 2-minute walk), and from there travelers can catch subway trains bound for stops to the north or south. Destinations to the east or west might involve a ride on the Dundas streetcar, which stops one block from Chestnut Park in either direction, at Chestnut and University.

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    Explore Bay Street Corridor

    10/10
    Walkability
    Congratulations, you're the mayor of Walksville! Everything's at your doorstep.
    10/10
    Transit
    Meet the heartbeat of the city — transit so smooth, you’ll never miss a beat.
    7/10
    Bikeability
    The bike lane starts to feel like a second home.

    Similar condos

    Demographics

    Based on the dissemination area as defined by Statistics Canada. A dissemination area contains, on average, approximately 200 – 400 households.

    Population
    15,057
    Average Individual Income
    $63,504
    Average Household Size
    3 persons
    Average Age
    43
    Average Household Income
    $103,909
    Dominant Housing Type
    High Rise Apartment
    Population By Age
    0 - 14
    15%
    15 - 19
    1%
    20 - 34
    28%
    35 - 49
    20%
    50 - 64
    18%
    65+
    16%
    Household Income
    $0 - $30,000
    45%
    $30,000+
    24%
    $60,000+
    16%
    $90,000+
    9%
    $125,000+
    4%
    Housing Types & Tenancy
    High Rise Apartment
    45%
    Semi Detached
    23%
    Detached
    21%
    Low Rise Apartment
    6%
    Duplex
    2%
    Marital Status
    Commute
    Languages (Primary Language)
    Other
    74%
    Mandarin
    13%
    Cantonese
    7%
    Tagalog
    2%
    Telugu
    1%
    Arabic
    1%
    Hindi
    1%
    Spanish
    1%
    Education
    University and Above
    46%
    High School
    20%
    College
    15%
    None
    12%
    Apprenticeship
    2%
    University Below Batchelor
    2%
    Major Field of Study
    Business Management
    25%
    Architecture & Engineering
    20%
    Health & Related Fields
    11%
    Social Sciences
    11%
    Math & Computer Sciences
    10%
    Humanities
    6%
    Physical Sciences
    5%
    Education
    3%
    Visual & Performing Arts
    3%
    Personal, Protective & Transportation Services
    2%

    Maintenance Fees

    Chestnut Park vs The Bay Street Corridor Area

    Days on Strata

    Units at Chestnut Park spend an average of
    15
    Days on Strata
    based on recent sales

    List vs Selling Price

    On average, these condos sell for
    1%
    below
    the list price.

    Offer Competition

    Condos in this building have an
    AVERAGE
    chance of receiving
    Multiple Offers
    compared to other buildings in Bay Street Corridor

    Turnover of Units

    On average, each unit is owned for
    10
    YEARS before being sold again

    Property Value

    -1%
    Decrease in property value within the past twelve months

    Price Ranking

    35th
    Highest price per SQFT out of 41 condos in the Bay Street Corridor area

    Sold Units

    4
    Units were Sold over the past twelve months

    Rented Units

    14
    Units were Rented over the past twelve months

    Best Value Rank

    Chestnut Park offers the
    ?
    best value out of 41 condos in the Bay Street Corridor neighbourhood

    Appreciation Rank

    Chestnut Park has the
    ?
    highest ROI out of 41 condos in the Bay Street Corridor neighbourhood

    Rental Yield

    Chestnut Park yields the
    ?
    highest rent prices out of 41 condos in the Bay Street Corridor neighbourhood

    High Demand

    Chestnut Park is the
    ?
    most popular building out of 41 condos in the Bay Street Corridor neighbourhood

    Transaction Insights at 55 Centre Avenue

    Studio1 Bed1 Bed + Den2 Bed2 Bed + Den3 Bed
    Price RangeNo Data$404,000 - $430,000No DataNo Data$715,000 - $717,000No Data
    Avg. Cost Per SqftNo Data$778No DataNo Data$672No Data
    Avg. Wait for Unit AvailabilityNo Data158 Days174 Days1122 Days147 DaysNo Data
    Ratio of Units in Building3%30%35%6%26%2%

    Unit Sales vs Inventory

    Total number of units listed and sold in Bay Street Corridor