Get a Logan Square 2/2 Loft For Under $240,000 With Parking: 2650 W. Belden
This 2-bedroom loft in 2650 W. Belden in Logan Square first came on the market in 2010 and was withdrawn only to re-appear in April 2012.
Since April 2012, it has been reduced $20,000 to $239,000.
It has floor to ceiling windows and exposed brick along with 15 foot ceilings.
At 1600 square feet, it appears that both bedrooms do not have windows.
But it has other features buyers look for including central air, washer/dryer and 1 outdoor parking space.
The listings says it has new plumbing and electric from two years ago.
I couldn’t find an original sales price because the PIN appears to be the same as Unit #111, which is also on the market (it’s one of Gary Lucido’s listings). It too was rehabbed just 2 years ago.
Were these units that were original developer units that are only now finally being sold?
And is this a deal at under $240,000?
(By the way- that is NOT my picture up top. I may take some crazy ones- but that is not one of mine.)
Tatiana Rea at @Properties has the listing. See the pictures here.
Unit #101: 2 bedrooms, 2 baths, loft, 1600 square feet
- I couldn’t find an original sales price- same PIN as Unit #111.
- Off and on the market in 2010
- Was listed in April 2012 for $259,000
- Reduced
- Currently listed at $239,000
- Assessments of $477 a month
- Taxes – not listed
- Central Air
- Washer/Dryer in the unit
- Parking included
- Bedroom #1: 15×12
- Bedroom #2: 13×11
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It is a decent looking unit and not a bad price but I think the odd layout with the windowless bedrooms in the back and the little loft in between will take a quirky type of buyer and it looks like the developer is still trying to find enough of them. I have a feeling this will be as hard to sell for the eventual buyer as it has been for the developer if not more so as it begins to look dated as well as odd.
I think this would appeal to a single person who wants to get in on Hot Logan Square now and when he/she gets married, they can rent it to a hipster couple.
I’d take this instead:
http://www.redfin.com/IL/Chicago/3034-W-Logan-Blvd-60647/unit-1/home/26806387
Me too DZ!
I’d like to see more pictures on both of those listings, but that’s just me. $477 a month is a lot for assessments in a building like this, and it probably means that there are some non-paying units. That might have kind of an effect on someone, especially without tax info. These are nice enough properties, pretty close to the train and should sell sometime this summer for $225k or so.
That Logan Blvd listing is awesome
Assessments of $477 a month. $250 of which goes towards paying off the local gangs so they don’t harass you. This area is so ghetto you might as well live at 69th and Cottage Grove and save yourself the money.
Matthew…obviously you don’t live in this area. Around here, you’re more likely to get run over by a hipster on a “fixie” heading to get more PBR vs. the risk of gang violence.
I believe this building has a special assessment due to tuck-pointing and brick work, hence the higher assessments.
Also, this building is in Goethe’s boundaries, which is good. Close to Haas, which just re-opened with a new park district building.
And, clearly, matthewlesko is not familiar with the neighborhood or this block.
matthewlesko, I hardly call that part of Logan Ghetto. Far far far from it.
Get out of that bubble every once in a while and see what the city around you is actually like.
Believe it or not, there ARE couples, even families, who like the “hipster” vibe of loft living and stick around. They just wall-off the bedrooms and add lighting fixtures.
Google matthewlesko folks. No need to get all bent out of shape, he’s funny!
“Also, this building is in Goethe’s boundaries, which is good. Close to Haas, which just re-opened with a new park district building.”
Goethe is ok at the moment. I wouldn’t say it’s good. For the UMC, it’s not a I could never conceive of sending my kids there kinda school, but it’s also not a choice people are that happy about.
Haas is also getting a new soccer field, supposedly in by end of year, which seems crazy fast but that is what I hear. Which is all for the best bc the old field was dreadful. They had done a really sloppy job when they tore down an old commercial building to put it in. Not flat, didn’t drain, grass was in terrible shape.
Goethe just got a govt grant for new playgrounds and stormwater/water conservation rehabs, in the neighborhood of 750K, I think. You won’t recognize it in 5 years.
“Haas is also getting a new soccer field, supposedly in by end of year, which seems crazy fast”
Field turf? Seen field turf field go in where asphalt was in under 6 weeks.
“Field turf? Seen field turf field go in where asphalt was in under 6 weeks.”
Think so (or something like it). I was just surprised that all the approvals etc could happen that quickly, and I think the expected completion is more like end of fall then end of year, but not completely sure. It took a long time for the existing field to be put in place. I suppose they must have cleared certain hurdles already to get the funding.
“more likely to get run over by a hipster on a “fixie” heading to get more PBR”
Was in vas foremost a couple days ago. Filled with hipsters. Well, ok, 3 hipsters. They were all buying craft beers. I had been instructed to get a fairly mainstream beer for one of our guests. The shame…
“I’d take this instead:
http://www.redfin.com/IL/Chicago/3034-W-Logan-Blvd-60647/unit-1/home/26806387”
Although your suggestion is perfectly logical, I could never do it because I’ve fantasized about owning the place across the street for decades (double / side lot on the blvd).
That would be even more torture than living on the first floor of a large building.
Re: this place, not my thing but I bet it’s getting close to a sale price, considering it has some space, parking, and very close to EL.
On this place/building, meant to add, for some pricing context, that the larger and better units have been selling for $300ish and above regularly, into this year. It’s kind of unusual. . .
DZ,
The craft beer hipsters is slightly more evolved and can be spotted at Vas Foremost Liquors. The slightly more commonplace hipster can often be found at 7-11 or other more pedestrian convenience stores, for their 30-pack PBR purchases.
” I had been instructed to get a fairly mainstream beer ”
Left to your discretion, or you were there to buy the Champagne of Beers? “Fairly mainstream” could easily result in Goose or Sam Adams.
“slightly more commonplace hipster can often be found at 7-11 or other more pedestrian convenience stores, for their 30-pack PBR purchases”
Hasn’t Bob informed us that they, too, are generally overpriced? Also, do the tallboys actually come in 30s?
“Hasn’t Bob informed us that they, too, are generally overpriced?”
No, bob would have been ok with paying their convenience premium. He just missed the (multiple) 7-11s in plain sight. [wiki]
““Fairly mainstream” could easily result in Goose or Sam Adams.”
Don’t think a hipster won’t mock that.
“Don’t think a hipster won’t mock that.”
A proper hipster can mock anything, including everything that they have done once, but aren’t doing at that exact moment.
anon (tfo),
Tallboys do indeed come in 30-packs, called “Pounder Packs,” but they’re not widely available in the city.
Most hipsters will purchase tallboys by the 6-pack, but it’s also common to purchase 30-packs of the regular sized cans…especially on the weekends. I live among the hipsters and have come to learn many of their habits.
Thanks,
Buster
I think I saw this unit this spring and one other in the building. It was either 101 or 11. The photos are nice, but the renters had the place in a rough state when I saw it – which is superficial but was hard to get past. In general the building itself seemed to be in rough shape. Lot of leaky pipes in the hall ways, a little dark… the ambiance seemed weird to me. The building was too unfinished I guess.
But for this price – if you’re willing to take a risk on the building seems decent for the area.