Get a 2-Bedroom South Loop Penthouse With Lake Views for Under $270,000: 41 E. 8th
This penthouse floor 2-bedroom at 41 E. 8th in the South Loop just came on the market.
It is bank owned and listed at $264,900.
That price apparently includes TWO parking spaces.
At 1450 square feet, it has had some upgrades including extensive marble in the bathrooms- including marble floors and several walls.
It has 2 east facing balconies with city and lake views.
The kitchen appears to be intact and has cherry cabinets, granite counter tops and stainless steel appliances.
The unit also seems to have a double door entry- which normally you only find in luxury buildings or, apparently, on the penthouse floor.
It has central air and washer/dryer in the unit.
At about 55% off the 2003 purchase price, and considering it includes the 2 parking spaces, is this a steal?
Eric Mundy at Key Realty Inc. has the listing. See the pictures here.
Unit #3301: 2 bedrooms, 2 baths, 1450 square feet
- Sold in October 2003 for $594,500
- Lis pendens foreclosure filed in June 2009
- Bank owned in June 2011 (included the 2 parking spaces)
- Currently listed for $264,900 (appears to include the 2 parking spaces)
- Assessments of $884 a month
- Taxes of $7608
- Central Air
- In-unit washer/dryer
- Bedroom #1: 16×12
- Bedroom #2: 10×13
Unless the building is unhealthy, this clearly looks like a deal to me.
Last I checked on the building it was fine. This is an extremely good deal for this building. One year ago I sold a short sale in this building on a lower floor, smaller, and with an inferior view for 300K and that was a typical value at that time and things haven’t deteriorated that much since.
miumiu – I think you found your in-town!!!! I wish I would have known about this place before I bought mine. Great views, great place, ok location… what type of rent could you get for this place (2500?).
Isn’t this the building that had the special because of issues with the balconies. As one that lives in the south loop the location of this building is not desirable.
Stuart,
Yes this is the building with the special. But as far as I know that problem is behind them.
I always thought it was a pretty good location. It’s close to the el and plenty of other amenities.
Pretty tasteless, but a seemingly good deal for the square footage. I prefer south of Roosevelt, but this is still a good location.
“miumiu – I think you found your in-town!!!!”
She’ll bitch about the taxes and assessments (which do seem out of line)
To me the sweet spot of the s loop is 14th and Indiana. Very neighborhood feel yet close to lake/shopping/etc. 8th street is a transition area with college housing/so so hotels etc
I’m sure Miu has something to say about the ‘carrera’ marble comment!
This looks like a nice place, I like the location, and the taxes could probably be appealed. I wonder if the bank already has offers.
Taxes and assessments are ridiculous on this place. Lets say that takes of $6000, and a $500 assessment are appropriate for this place. That means you’re paying an extra $6200 per year, or $520 a month for this place… mortgage value of $520 a month is $102,000. Is this a deal at $365,000?
Clio, you can get $2500 a month for this place with both parking spaces included.
Looks like its fairly priced, nice lake views not to hot on the location either, but its closer to the loop which isn’t a bad thing
It seems like a good deal to me, especially with the two parking spots.
It’s jaw dropping that someone spent nearly $600,000 on this place in 2003.
It’s a great deal – for a primary, secondary or investment property. The value as an investment will be realized in about 10 years. Until then, just rent it out near your costs.
This is off topic….
Clio, in another post you linked a house in Hinsdale for 700k. It looks like it is under contract but have you seen the house in person?
I looked at the listing and it looked lile it had exterior insulation panels on it? My feeling was that it was a pig with lipstick on it. The pics looked nice though….thoughts?
G G G – where are you?!~!!!
http://finance.yahoo.com/news/Spring-buying-boosts-home-apf-28530223.html?x=0&sec=topStories&pos=3&asset=&ccode=
What does the assessment include…the listing says see remarks. I think the $800 may include the special for the balcony meaning that the assessment my drop to something more reasonable once this is paid.
This is a nice enough building but I’m not a fan of this part of the south loop. I lived at 13th and Indiana / prairie and felt that location was ideal..but then again, probably can’t get this size for this price in that locale. A resident I know rents a 2/2 in this building for 2k with 1 parking spot. No clue on parking or views.
clio seriously, go fuck yourself, you have posted that stupid link about 10x already on this website, why don’t you go spam yahoo or something you dickhead
sonies, the post was in response to a request
everyone else – take note of sonie’s nasty attitude and next time you blame me for being mean or an “asshat”, think again. Nothing I posted on this thread warranted that type of post – yet nobody ever would call sonies out. Think about it…..
Sonies that’s pretty harsh and uncalled for man. Someone just asked about that property a post back. Not cool.
yes, that is his new trick. post as somebody else asking him a question so he can post more links. not uncalled for at all for sonies to rip him. he deserves worse.
“I think the $800 may include the special for the balcony meaning that the assessment my drop to something more reasonable once this is paid.”
That special was ages ago. It was a lump sum and people who couldn’t pay it in a lump sum took out loans I believe. This assessment is also consistent with the assessment on the unit I sold, which had the special paid off. The assessments do include heat and A/C though I feel like they are still high. But prices in the building already reflect those assessments.
The assessments are enough to keep a lot of college kids from renting in the building, which is a good thing to me. I would pay extra to keep college students out.
As Riz said this location is not ideal. I want one of the north facing OMP units.
Bob 2 is right about the assessment thing. Also interior is very ugly imho especially the kitchen layout. Views are subpar too so not our cup of tea. I want a place that I really enjoy and don’t want just a deal.
you mean buying Jenny, right?
the views are great here, and this unit is about half the price of an OMP north facing unit.. so not really a fair comparison
Miumium, I meant the higher assessments keep college students from being able to afford to live here – whether it’s parents buying them a condo or renting from an owner.
Jenny, 2500/month for a 2/2 isn’t going to keep college students out. Many many Columbia and Roosevelt students lived in museum park and in my building where rents are higher. 1250/month isn’t much to a college student nowadays , especially with rich suburb parents +/- seemingly limitless loan potential. This isn’t anywhere near the pricepoint it would take to keep the tween generation out.
Sonies you are right, it is not a fair comp at all. I was just saying why it is not suitable for us.
I laugh when parents pay for their college kids to rent in places like OMP…then tell them they are on their own after graduation. Huge drop in standard of living…then they complain. Must be rough having your parents pay for all your college and luxury living, then have to make it on your own at the age of 22…from OMP to old share in Logan Square…
“Jenny, 2500/month for a 2/2 isn’t going to keep college students out.”
It still keeps out the super ghetto irresponsible crowd. Plenty students in my building too, but it’s not really a problem with the high rents. In my college days my share of the rent was $340…. needless to say these kids are all boy scouts in comparison.
Agreed, most of the younger kids that lived in my building were very low key and didn’t bother anyone. The “party” crowd doesn’t exactly gravitate to the south loop.
A local-
typically the kids with rich parents paying their rent don’t end up in logan square…if they don’t get decent jobs in consulting etc after college, they join the family business or continue to live in parents condos while pursuing grad school.
College kids rented a townhouse by me. I suppose they are OK, but they occasionally, have parties where they use their stupid drunk voices and the girls screech in high pitched voices. They also have left a mop dangling on their porch since they moved in. I can’t imagine living near a lot of college students.
I hated college students while I was in college.
who did you like when you were in college?
I am pretty convinced that jenny is a fat (from eating out too much) goth chick
once again….who is the nasty one?
College students OK, but pets are not. And the bathroom window shares/opens into the bedroom. Ugh.
“And the bathroom window shares/opens into the bedroom. Ugh.”
Not sure what you mean by this. The only bathroom window I see (near the toilet) looks to be to the outside.
I don’t like food enough to become fat and the goth look always struck me as dumb.
Marco-If you look at the shot of the room adjacent to the bathroom, you will see that the window is the same one as the bathroom, with a wall only partially covering it. Unless there is a middle support dividing this window, it’s open to both rooms.
People do this in offices all the time and it’s almost like not having a wall there.
“I don’t like [NOUN] enough to become [ADJECTIVE] and the [THING/PERSON/WHATEVER] always struck me as dumb.”
JennyLibs!!
sonies def slipped up bc jenny has stated she only spends like 40 bucks a week on food.
what do you do for fun jenny? I know riding bicycles, worshiping jesus and eating are off the list, but what is on it
also frat parties and listening to joy division are off
40 bucks a week on food? Jenny I hope you take care of yourself and eat well. I hate being over weight but eating too little or low quality food is equally bad if not worst.
Maybe she reads or watches movies CH? Hangs out with her friends and family, walks her dog, cleans up, or volunteers?
Nah. I like Joy Division. I also eat a ton of fruit, which is where most of my grocery dollars go.
“…you have posted that stupid link about 10x already on this website…”
That is one thing that should be monitored more here… I thought any links that were posted had to have admin’s approval before them being posted.
I hate it when someone(s) will post links to other listings when discussing the featured listing and say this is a better idea. To me it sounds like paid cheerleaders are invading CC to promote their own firms listings.
Another topic that this type of link posting behavior presents is the internet security threat. I know I have clicked links here once (and many other times on other sites) only to get a warning from Norton telling of suspected viruses or other important threats from the site being promoted.
do you like mangoes?
“Jenny has stated she only spends like 40 bucks a week on food.”
“…I hope you take care of yourself and eat well. I hate being over weight but eating too little or low quality food is equally bad if not worst.”
Is this a Weight Watchers support group website or is it a site devoted to discussing Real Estate in Chicago?
“College students OK, but pets are not.”
Really? I think the opposite and do not rent to college kids but I rent to pet owners.
Back to the property though, it does seem to be a fairly nice unit with decent city and lake views. Personally for me it would be too far south as I don’t like the area lower than Roosevelt. Museum Park is my cut off point.
It does have all of the required items AND TWO spaces included in the price. What more could u ask for? Double doors and 55% off the bubble pricing. Penthouse level.
Good Deal for someone looking in the area.
“Another topic that this type of link posting behavior presents is the internet security threat. I know I have clicked links here once (and many other times on other sites) only to get a warning from Norton telling of suspected viruses or other important threats from the site being promoted.”
then don’t visit the site – you don’t even live in chicago anyway, – aren’t there cribchatter new york sites to spout your pompous views and display your arrogant attitude?
“Personally for me it would be too far south as I don’t like the area lower than Roosevelt.”
WL: 8th is 4 blocks NORTH of Roosevelt.
Jenny is hot
Looks like someone bit… the place is under contract! I agree with Riz and Stuart that South of Roosevelt feels “more grown-up,” but $183 a square foot + 2 parking spots is a pretty good deal.
“Is this a Weight Watchers support group website or is it a site devoted to discussing Real Estate in Chicago?”
No it is a website for you to come and sing your own praises.
Westloopelo–the listing says no pets, not me! I’m mad for English bulldogs, so this place is poison.
“No it is a website for you to come and sing your own praises.”
That I can deal with.
What I can’t deal with are ALL of YOUR seriously off topic posts. We don’t care about fashion, your kid, your kids accessories, your love of fashion…
Everything EVERYTHING you post is irrelevent to the world of Chicago Real Estate.
Seriously you would probably be better received in a parenting board of some sort….or maybe some kind of Fashion board frequented by immigrant fashionistas.
But then again, on a fashion oriented board they would probably laugh you off because of your rip off screenname of MiuMiu…which as most people do not know is the name of a secondary line of PRADA.
I stand corrected anon(tfo) thanks for your correction done in a non threatening or non humilating manner.
The worst poster on this board could take some ettiquette lessons from you.
Thanks again for correcting my oversight. I think what I was doing was thinking of the numbering grid system in place in Manhattan which declines going South.
What is OMP?
westloopelo, you are so narcissistic. You just wrote a post telling anon that he is classy and look how you responded to me. Also for someone who talks about brand of his pots, his friends art collection (era of which you could not even get right…lol), constantly bickers with Clio, brags about his rehabs and his family all the time, you sure have a face to complain about me.
Unlike you though, I have no huge ego and I agree with you that I don’t know much about RE and I do enjoy posting and chatting with folks here. If you cannot get over the fact that I called your BS on back slashes though luck darling.
“tough luck”
miumiu – couldn’t agree more – westloop’s last two posts are a window to a split personality – CRAZY!!!
Westloopelo who spit in your coffee this morning? None of us, that’s for sure.
Is it just in the last few years, or has it ALWAYS been popular in Chicago for college students or their parents to buy/rent apartments near the campus, rather than living in dorms or fraternity/sorority houses on campus?
Prada,
Not at all narcissistic…that would be clio.
anon and you are at opposite ends of the spectrum…he is an intelligent, well spoken man who can speak with authority on a wide range of topics while yours…well, potty training is about the limit.
So what if I have calphalon….millions of ppl do. Nothing to
‘brag’ about there, just my personal preference in cookware.
My acquiantance’s art collection spans many eras, so I don’t know what you are referring to there. I did not incorrectly classify any period when I mentioned her art…don’t know wtf you are talking about there. Nothing to LOL about other than your lack of class.
I am also one of MANY people here who is forced to call out clio on all of his BS… just as I am feeling compelled to do so with your posts. From day one you have had your nose up his ass, so I do understand your support of his ridiculousness.
I don’t brag about rehabs, merely relating info that is relevent to the discussion at hand. Nothing more. I do however take a great deal of pride in my work, just as you do about your diaper changing.
“If you cannot get over the fact that I called your BS on back slashes though luck darling.”
WHAT? Seriously take some english courses…you sound stupid and/or ignorant most (all) of the time.
“…westloop’s last two posts are a window to a split personality – CRAZY!!!”
If anyone here knows crazy AND multiple personalities it would be you clio. or is it Clio or CLIO today?
LOL I too enjoy coming here not to read about Chicago’s RE but to laugh at the latest nonsensical BS coming out of your ass.
I thinks its always been popular…look at 1 east 8th street (the building with the xsport). those 2 bedroom units are the size of dorm rooms. it’s also like 20 balconies on each floor so that tells you how many units they squeezed in the building.
“Is it just in the last few years, or has it ALWAYS been popular in Chicago for college students or their parents to buy/rent apartments near the campus, rather than living in dorms or fraternity/sorority houses on campus?”
DePaul, Loyola, Columbia, UIC don’t (and didn’t in the past) have nearly enough dorms for all of their full-time U-grads. Having a place with a kitchen is cheaper than a meal plan.
So, yeah, “always” been popular, at least on the rental side, much less so the buying a condo side.
He GONE. Was it the cribchatter bump that sold this place yesterday?
Parking spots in this area go for at least $150/mo. I’d definitely split those up: $2,400 for the place, parking $150/ea. Some renters won’t want both spots, so rent the other one to someone else in the building.
Hate those assessments, but someone is still getting a steal.
“Seriously take some English courses”
yo, take your own advice: it is spelled “etiquette” not “ettiquette”.
“From day one you have had your nose up his ass, so I do understand your support of his ridiculousness.”
Just because you dislike someone, we are not all forced to do so. Grow up. It is not high school. Now I understand why you were so desperate to be disagreeable to me. You want to talk class, the bare minimum is respecting others that disagree with you. Categorically disliking others because you branded them in the other team shows your insecurity.
“he is an intelligent, well spoken man who can speak with authority on a wide range of topics while yours…well, potty training is about the limit.”
Definitely anon know much more about Chicago, English, and local politics than I do. You are right on that. Now about my intelligence, so because I asked about strollers and like nice clothes that makes me stupid? I think it makes you misogynist and furthermore, you are very rude: “From day one you have had your nose up his ass” and have just lost any claims you might have had at being a judge of class.
oh and one last post, you think my one liner to Jenny detracts from the quality of the discussion, I’d say your attacks at other posters does much more. Feel free to say all you want to me, I will not respond any more.
What a gem of a thread:
http://cribchatter.com/?p=8546
Good to see westlooplo has updated his former description of anon(tfo) ” over-educated, under-sophisticated mid-western fat ass”….lol
westloop has authored quite a few in the past. interestingly he implores we stay on topic yet in the past has regaled us with info about nyc’s superiority vs. chicago, and his native american boyfriend. that said, he offers substance once in a while. certainly more so than the most prolific goofball poster cc has ever seen
Sold for 315k
English bulldogs are an abomination of a breed much like sharpeis. saw a great special the other day about how selective breeding has created these unhealthy monstruousities. people that own breeds like these should be sent to gulags.