Tired of Cherry and Granite Kitchens? Me Too! 1530 S. State in the South Loop

This 2-bedroom duplex loft in Dearborn Tower at 1530 S. State in the South Loop has been on the market since January 2011.

1530-s-state-approved.jpg

The building first sold units in 2001 so most of the finishes are going on 10 years now.

The listing for this 10th floor duplex up says it has been renovated and reconfigured from a 3-bedroom into a 2 bedroom.

It also has a new kitchen and baths.

Surprise! There are no cherry cabinets or granite to be found in the kitchen.

Instead, you’ll get quartz and carerra marble counter tops with a mix of contemporary white and maple cabinets alongside stainless steel appliances.

The living room has a wall of 2-story windows along with a 20×7 terrace.

There is central air, washer/dryer in the unit and parking available.

Both bedrooms, and a 9×9 laundry room, are on the second level.

Andrea Geller at Coldwell Banker has the listing. See the pictures here.

Or you can see it at the Open House on Sunday April 3 from 1:30 – 3:30 PM.

Unit #1025: 2 bedrooms, 2.5 baths, 2016 square feet

  • Sold in July 2001 for $355,500
  • Sold in May 2006 for $625,000
  • Originally listed in January 2011 for $740,000
  • Reduced
  • Currently listed for $699,000 (parking $35,000 extra)
  • Assessments of $644 a month (includes heat, a/c, gas, doorman, cable)
  • Taxes of $5470
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 22×13 (second floor)
  • Bedroom #2: 13×11 (second floor)
  • Laundry room: 9×9 (second floor)
  • Terrace: 20×7

38 Responses to “Tired of Cherry and Granite Kitchens? Me Too! 1530 S. State in the South Loop”

  1. As a South Loop guy I am not a fan of anything on State St. and for the most part anything south of 14th street except along the lake. Except for the space there are far nicer properties in the area. My guess is this is a $400K property.

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  2. I follow the South Loop only closely enough to know that it has been brutalized by the last several years. This is a nice size and a nice unit, but needs some updating, and I don’t think anything in a building like this in this location is worth $350/sqft. More like $250/sqft. These sellers are going to be lucky to get about $500k for this unit, I would say.

    I would be curious to know what percentage of units in buildings in the South Loop are actually occupied right now. I would guess that it is a way lower percentage that any other reasonably nice area in Chicago. That is what kills the market for a place like this. I would never tell my friends “I told you so,” but a lot of people I know bought in the South Loop in the last ten years, and I am reasonably sure that they all regret it. It seemed clear to me that all the inventory was going to kill values down there.

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  3. cant tell but does the second bedroom have a window?

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  4. people need to buy furniture appropriate for their gut rehabbed condos.

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  5. This is one of the better buildings in the South Loop. I looked at units in it when it was under construction. This place would have more appeal if it faced north which has some of the views of the skyline.

    I remember when the south loop had a handful of lofts and I thought it was kind of a cool area. It really is fascinating how it got overbuilt so quickly with McHighrises. Almost like there was little to no thought on inventory levels in the area by developers.

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  6. “Completerd Revovated”

    Freudian slips?

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  7. Bob 2 (Not Bob) on April 1st, 2011 at 10:30 am

    This building has a whole bunch of funky units, not really my style though. Location is alright, state sucks thanks to Dearborn Park (you mostly look at the back of really ugly townhouses and west side ain’t much better either), but you’re still pretty close to all the good stuff. Also bonus points I guess for having a clock tower incorporated in your building.

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  8. I love the wall of windows. It looks like this unit faces south, so there’s plenty of light — maybe too much. But then the view is not of downtown. I’m not a fan of the split maple/white laminate cabinets. The price seems very high. If I were buying this type of place, I’d be looking in the west Loop, which is developing a neighborhood feel a lot faster than the south Loop is, especially this stretch of State.

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  9. “I would be curious to know what percentage of units in buildings in the South Loop are actually occupied right now”

    @JJJ I think we need to take a page from the Cabrini Green Story and relocate people from half empty condo hi rises. Select a few half-filled condos, fill them up and then knock down the empty ones. 😀

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  10. nice place but it will be lucky to sell @ 400k

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  11. “Also bonus points I guess for having a clock tower incorporated in your building.”

    Until you have to pay to tuckpoint it.

    I’ve been in units in this building. I like the building. Kind of cool how they kept the original building and essential built a new building on top of it. I think the units are pretty nice and the north views are very nice. Location is not for me. I doubt the location is for many people looking to spend anywhere near this kind of money. Especially without proper bedrooms.

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  12. Here’s the competition:

    http://www.redfin.com/IL/Chicago/1530-S-State-St-60605/unit-1014/home/12688452

    Has a lake view and *no* updates. Is updated, but minus a bedroom and with a lesser view worth anything like $275k (65%) more?

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  13. this building has always done better-than-average, price-wise. I never understood why. This is a cool building, but I’ve never understood why it performed above the mean. No way this goes for $350 psf in the S. Loop today.

    I like cherry cabinets, they never go out of style. If I could, I’d like to get my two large hands on some nice fleshy pear wood though (just kidding).

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  14. Bob 2 (Not Bob) on April 1st, 2011 at 10:49 am

    there’s also this for only 96k more (but you’ll pay for it in tax and assessments)

    http://www.redfin.com/IL/Chicago/1530-S-State-St-60605/unit-12E/home/12678305

    Redfin says it’s been on market 11 days, but I remember this having been available for a long time

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  15. Isn’t there a freight train track that passes directly next to this building on the south? What’s that like for residents? anyone know?

    If one is high enough up the utterly wide open south view has to be like one gigantic train/hot wheels set, you’ve got the Ryan, LSD, Amtrack, the freight tracks, the lake, the river, I-55 to McCormick place..

    Cop station next door to this building, right?

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  16. Bob 2 (Not Bob) on April 1st, 2011 at 10:58 am

    “Isn’t there a freight train track that passes directly next to this building on the south? What’s that like for residents? anyone know?”

    Yea there is, I would never consider South view in this building just because of that. I can hear those trains very well and I’m much higher and farther away from those tracks.

    “Cop station next door to this building, right?”

    Little south of here by 18th

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  17. WTF is carerra marbel?
    There is marmo di Carrara (Carrara marbel) which is from the city Carrara in Tuscany and many of Michelangelo’s statues are carved from. It is particularly famous as it is white and has little impurities. I have seen this carerra thing on other listings too. Is it an American wrong spelling of the word or some sort of fraud pretending to be something one is not. It is very bothersome that there is no regulation on the misleading brand names in this country. Like calling the disgusting Kraft cheese Parmegan (like Parmigiano) when it is not from the region!

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  18. Bob 2 (Not Bob) on April 1st, 2011 at 11:35 am

    “Is it an American wrong spelling of the word or some sort of fraud pretending to be something one is not.”

    It’s Sabrina misspelling the agent’s misused Carrera

    http://en.wikipedia.org/wiki/Porsche_Carrera

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  19. I don’t really know how or why the units in this building seem to always command more when they go up for sale/rent..It’s a nice enough building, but there are plenty of those in the south loop. This location sucks – State street in general is a dump, Aside from a Car wash, a new firestone tire place, and opart thai all the way down by 19th street, there is 0 appeal to this location. 2k square feet in a crap area of the south loop for 700k? no thanks. with that kind of change i’ll take my business elsewhere in the city; and If there is an absolute need to stay in the south loop , I can get an equally nice or nicer unit in Museum park at that price point. Why wouldn’t i want to live here:

    http://www.realtor.com/realestateandhomes-Detail/1201-S-Prairie-Ave-Apt-3805_Chicago_IL_60605_M73196-19049

    or buy a townhouse with 1k more square feet on a significantly nicer block:

    http://www.realtor.com/realestateandhomes-Detail/1339-S-Indiana-Pkwy_Chicago_IL_60605_M77753-11000

    i just don’t get it sometimes. 450k tops.

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  20. Thanks Bob, still the agents listing sounds like a fraudulent use of a term which has a specific meaning. It is very annoying.

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  21. “a fraudulent use of a term ”

    Fraudulent is a very strong word in the context of your post. even when related to Realtors(tm) :)

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  22. “It is very bothersome that there is no regulation on the misleading brand names in this country.”

    Check out the Lanham Act sometime. Also state trademark laws – there is plenty of such regulation.

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  23. what about the Chrysler Cordoba with “Fine Corinthian Leather”? who could forget Ricardo Mantalban with that spiel. Turns out no leather from Corinth. period. end of story. so in comparison a little marble misspelling is no biggie

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  24. “what about the Chrysler Cordoba with “Fine Corinthian Leather”? who could forget Ricardo Mantalban with that spiel. Turns out no leather from Corinth. period. end of story.”

    Rich. Rich Corinthian Leather. And, iirc, he ad libbed that.

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  25. the comparison to 12EF just kills them.

    brutal.

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  26. i think it was soft, not rich or fine.

    made up by the ad agencies, not ad-libbed by RM (at least that’s teh story)

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  27. its “rich corinthian leather”

    its on youtube go check it out, awesome commercial

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  28. “Fraudulent is a very strong word in the context of your post. even when related to Realtors(tm) ”

    You are right groove, what is a good term? deceptive?

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  29. “You are right groove, what is a good term? deceptive?”

    no muimui, you had the right term, deceptive is far too nice for [most] Realtors(tm). fraudulent was perfect!

    i was just make you aware of the statement seeing if thats the correct route you wanted to rock?

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  30. If I was paying commission on $700k to an agent I’d expect them to at least proof read or even spell check the damn listing.

    The kitchen looks like they picked up whatever was left in the clearance section and threw it together. And I hear the carrera/carrara marble is highly porous and impossible to get stains out of.

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  31. I’m all for outing and ridiculing sleazy real estate agents, but misspelling and possibly mis-identifying the type of stone doesn’t get me too excited from the BLACKLIST!!!! perspective.

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  32. “I’m all for outing and ridiculing sleazy real estate agents, but misspelling and possibly mis-identifying the type of stone doesn’t get me too excited from the BLACKLIST!!!! perspective.”

    I agree with JJJ… At least the agent took good peektures.

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  33. Wilson, did you mean to say peekchairs? ; )

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  34. peekchairs of the “Completerd Revovated” loft.

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  35. “made up by the ad agencies, not ad-libbed by RM (at least that’s teh story)”

    And here is a reference to the story as I had heard it:

    http://archshrk.com/2006/05/ricardo-montalban-and-fine-corinthian-leather

    below the video.

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  36. “Isn’t there a freight train track that passes directly next to this building on the south? What’s that like for residents? anyone know? ”

    Yeah, and they’re noisy. When the cars round the bend by Prarie I hear it at 14th and Michigan. And it rumbles too. I don’t think it’s a big deal but if I were next to the tracks I might.

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  37. 12ef is a pimptastic unit. isnt there a good school down in sloop? wonder if this is in the boundaries but I’m guessin no since it’s not in the description.

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  38. i stand corrected. so loop elem according to the details

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  39. Most people who live in this building dont want to leave. Its kept up nicely and the community is great. The buildings backyard is Cottontail Park and Dearborn Park I and II make it feel like a suburban oasis. Walk over half a block to state street and absolutely everything is there…jewel, marianos, restaurants, bars, shopping, etc… two months ago there were only 5 units for sale in a bldg that has over 320 units; the bldg speaks for itself. Only 18% rentals the rest is owner occupied. Great tapas restaurant downstairs and when everything else in the area crumbles, this building will withstand all.

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