Looking For a Cool Loft? Check Out This 2-Bedroom at 1728 N. Damen In Bucktown
This 2-bedroom loft at 1728 N. Damen in Bucktown just recently came on the market.
The lofts in movies or on television are always these big expansive spaces with high ceilings and multiple levels. Yet, it’s always so hard to find one of those properties in “real life.”
This 3000 square foot loft just might fit the bill.
It has 16 foot timber ceilings and exposed brick.
Even though the building was converted into lofts in the mid-1990s, the finishes in this loft have been updated.
The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.
The master bathroom has a steam shower and double vanity.
There is a lower level custom-built office with shoji screens.
It has central air, washer/dryer in the unit and parking is included.
And it is smack dab in the heart of Bucktown’s restaurant/shopping scene.
Before you all complain about the assessment, it includes both heat and a/c.
Is this a deal for this square footage at this location?
Connie Grunwaldt at Baird & Warner has the listing. See more pictures here.
Unit #107: 2 bedrooms, 2 baths, 3000 square feet
- Sold in June 2004 for $407,000
- Currently listed for $539,000 (parking included)
- Assessments of $751 a month (includes heat, a/c)
- Taxes of $9611
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 27×19 (main level)
- Bedroom #2: 15×13 (lower level)
- Laundry: 8×6 (lower level)
A real loft, finally. Good location, good ceiling height and wide open space. Nice windows too. The decor is a bit mish-mash. I would reduce the variety of exposed brick (painting some) and the business of the ceiling to make a sleeker version of the old chicago loft…more modern, more NYC (Soho or Tribeca) but great bones.
“Before you all complain about the assessment, it includes both heat and a/c.”
Great, so you can count on assessments escalating more each year than they would if you paid for your own heat and AC, since you have no control over how other owners use them. ESPECIALLY in a loft I’d want control of my own AC costs.
I lived in a 2,400 SF River North loft for 10 years……..Our most recent assmts before we moved were $1,100/mo PLUS heat and AC so this does not seem expensive to me.
It looks to me like this is the unit that is literally ON Damen and directly next to the common entryway. Those 3 windows (while large) appear to be the only windows in the entire unit.
Isn’t a “loft” that is partially a basement a bit of an oxymoron?
“The lofts in movies or on television are always these big expansive spaces with high ceilings and multiple levels. Yet, it’s always so hard to find one of those properties in “real life.”’
because you are looking in the GZ — those movie lofts are often set in the bad part of town per the storyline.
I really like this space and that it is definitely large and well updated. However, I would not be a fan of having my huge windows on street level on Damen, especially in an area with tons of foot traffic. Nor am I excited about not having a door to my master bath.
Otherwise, very cool!
I really do dig this property and it’s so nice to see a pretty close to true loft in this size as opposed to some crappy rooms carved out of 1500 square feet, but that is a way less than ideal location to be at ground level with retail-style windows (i.e. floor to seven feet or whatever) across the entire living room.
Cool space, but I would hate to be directly on Damen, especially on a low level like this. I would not feel comfortable ever keeping the shades open.
The assessment seems about right for this large of a space… possibly even on the low side.
nice place, but stupid diagonal light floors are ruining it for me
“I would hate to be directly on Damen”
So…
not on damen
not without 1 person 1 bath
not with hobos
not in the woods
not without dogs
not without giant land tortoises
not with kids
not if pricier than 2002
not with renters
not in nortcenter backwaters
not in a church
not with deerhead
not without foodhole cut fruit
try it, try it…
Yeah, I hate diagonal floors too. How did that trend ever take off?
Designers think diagonal floors make your space look bigger – doesn’t really make sense in a large loft though.
It looks like the front windows have some type of reflective on them — so that those walking by can’t actually seen in.
OK, that’s kind of awesome then (the reflective windows) – imagine the people watching opportunities. I’d imagine it would take some getting used to, though.
It is a cool place with decent assessments considering what is included. The holdback is those street level windows. Forget the voyeur aspect I’m more concerned with the greater potential for a burglary. They can tell when you are not home. Don’t forget that at night the reflective coating does nothing!
Reminds me of a night in FL many years ago while attending a conference. We were walking back from a hosted bar event by a vendor and there were at least 25 to 30 men standing around a first floor hotel room. The room was right on the path to the pool and although the tinted window and sliding doors were closed the lights were on and the couple did not realize that they were putting on a show. When done they got a big cheer from the crowd for their entertainment. I realized there and then that a first floor bedroom with a lot of glass was a bad idea.
Doesn’t anyone think it’s odd that they are asking $132k over the 2004 price? Sure prices weren’t at their peak then but they were close and while Crains may be writing about bidding wars on million dollar SFHs, this isn’t one of them. Maybe they did a lot of work on the place but a 33% price increase seems a wee bit unrealistic especially when Bucktown hipsters can watch your TV from the curb.
I think the price may be high considering it is only 2 bedrooms, but for 3000 sq. ft. in Bucktown, $539k doesn’t seem outrageous to me. I am assuming though that a fair amount of work has been put in since 2004 or they got a real steal.
Yes they updated that kitchen for sure. But 132K might be a bit optimistic. Who knows?
I think that it is a nice space for a professional couple that want some room to spread out. Especially if one of them works from home. The problem is that when Chad and Trixie have junior those stairs may become a p.i.t.a. and make them flee the loft.
The place reminds me of the lofts at 1000 W Washington as they converted basement space to some units. Here is a comp at $650K. Ask yourself which one of these units looks better and what location fits your lifestyle better?
http://www.redfin.com/IL/Chicago/1000-W-Washington-Blvd-60607/unit-134/home/12788954
I love the 1000 w. Washington lofts. My friend has a condo there and it’s 3 floors! It was very cheap too. The only issue is that the association is involved in a big lawsuit that was featured in several media outlets.
I wouldn’t dare touch 1000 W Washignton with the legal issues going on in that building…
Yes that is a looming problem with that development. Somehow units still are selling. Go figure?
How is a 3/3 in the west loop with a $100k asking-price differential a good comp for this place which is a 2/2 in Bucktown??? I admit both are lofts but the comparisons pretty much stop there.
“How is a 3/3 in the west loop with a $100k asking-price differential a good comp for this place which is a 2/2 in Bucktown??? ”
1. “seller will add beds”, so it’s actually a 1 bedroom
2. ground floor duplex loft.
3. prob about same square footage.
If you’re trying to make a property look bigger by using a wide-angle lens, don’t take a picture with a pool table or other item of a known size across multiple depths of field in the picture, it kind of gives it away.
Thanks for poinitin out those similarities anon!
Daniely – I used the wrong word as it is not likely that an individual would be comparing these very different units or locations. There are earlier posts that discussed basement lofts and sleek vs cluttered spaces. This link just gave a slightly different style or version with similar features but in a different area of the city to compare.
$130K above does not seem a lot for a high end rehab. I’ve seen this unit, extensive rehab done–all high end. Owner does control heat and ac, and you can’t see inside from windows on Damen because of reflective on the glass. Must admit, the place is pretty cool.
Justbelle – you must be the owner, agent, or someone stuck on reruns of flip that house circa 2007. People are no longer paying a multiple over cost for renovations. In fact , it is more likely a percentage of the total as a ROI. Though the rehab is indeed nice there is no way that they spent $130k on a rehab. With new cabinet doors, a few ss appliances, and around 50 sq ft of countertops in the kitchen. Add to that 10-12k in tile plus a new vanity in the bathroom and you iChat have hit 50k max
“People are no longer paying a multiple over cost for renovations.”
How many rehabbed houses have we seen where they’ve put in $100k and are reselling for $300k more? Plenty.
People want “new” and ARE willing to pay a premium for it.
Park ridge in particular has one rehabber that buys foreclosures and estate sales in the 200s and resells them in the 300s. He does a good job but every home looks exactly the same after he rehabs the. Same materials in every job, same time, same GE appliance package. Dark hardwood floors, cherry cabinets, same home depot blacksplash. All the homes sell within weeks of being listed. He’s doing pretty well for himself I imagine.
As someone who renovated an entire home, I understand the premium for new. It took 6 months and it seemed forever. It stayed on budget. But there are lots of decisions to make and some screw ups here and there with door installation and the cabinets we got were full overlay rather than frameless and that really pissed off ms hd because the kitchen people are “here you’ll like these” rather than “this is exactly. What. We. Want. “. So with full overlay it’s not quite as modern as frameless but I live in the burbs and modern taste out here is subdued. Pottery barn is way more popular than room and board, unfortunately.
Full Disclosure. I’m not the agent for this loft. But I am an agent at BW and showed this unit a few times for listing agent.
I haven’t evaluated the asking price/assessments, tax comparisons on this so I will not comment on it’s current value to asking price, etc. But instead just thought i’d provide my thoughts.
First, I love lofts. I’ve owned one on Honore near Division for past 11 years. It’s big and drafty. I can hear my neighbors above very well and have to limit walking late at night or my downstairs neighbor get pi$$ed. I have concrete and mortar dust constantly over everything. And it’s never an equal temp. But that’s why I love it. I didn’t know when I bought it if I’d be a ‘loft person’ or not. But after a few years living in one I knew by the way I always wanted to make it nicer, better, etc., that I was.
As been said, this place is a true loft. Fortunately, this property was a much more refined renovation when converted than my building was. So none of the ‘issues’ I have are present here. In fact with the windows closed, you cannot hear Damen traffic at all. It’s really sound proof. Little history, this unit is the only one with floor to ceiling windows. The reason is because this space was once the buildings loading dock. A couple comments on the windows. First, it’s amazing how much light they let in. You’d never know that they are the only windows as main floor and ground level floor and almost 100% bathed in natural light. Which is nice. Also as mentioned, the lower portion of the windows are tinted. And yes it was funny when a couple people did a double take and kind of checked themselves out while walking by last Sat am. We checked and you can not see in at all during the day. Which really would be the only time you’d have those shades open anyway. The windows currently have 2 sets of roll down shades. one for top section and one for bottom. The lower floor is cool as it has nice space for den and office area. The 2nd big bed. And a really nicely updated bath. But what found really cool was that there is a mini door about 4 1/2 feet tall that leads under ground level floor. Once inside it’s a huge, very clean storage area that i could stand up in. I’m 5′ 10.
Anyway, the reason I’m writing this is not a sales pitch but more of a overall comment. I personally have no problem with the windows. I don’t worry about being looked at because I’d close my blinds. I don’t worry that someone would know I’m not home because I’d close blinds, put some lights on timers, lock doors and set alarm. I don’t care about natural floors because I’d sand and stain before I moved in. I don’t care master bath has no door. I’d probably leave it that way but if it bothered me, I’d have one put in. What I care about is how it makes me feel. Do I think it’s cool and fun? This one I do.
What I’ve found is that many people love the idea of lofts but when it comes down to it they don’t want to live in or own one. They say wow and then start to dislike the features that make it unique. Everyone is unique and has their own personal likes/tastes/needs/ wants, etc. The person or people who buy this will know when they take one step in they want it. For others they’ll love it but it won’t be for them. In my job I see properties all the time that I just love but aren’t for me for one reason or another. But I must say it’s really fun seeing all the interesting, unique and creative things some people do with their homes. Always enjoy CC. Thanks.
@jp3chicago
Justbelle – you must be the owner, agent, or someone stuck on reruns of flip that house circa 2007.
No, I am not the owner, agent, but I may be stuck on reruns…
I am looking for a place to live as a single again and the majority of the stock I have seen in the areas I want to live need extensive renovation or are just plain bleh. This place at least has unusual features and the rehab is high end. I do appreciate it. Having been through several renovations with my past homes, I am just not willing to do that again. At this point, I will pay a bit of a premium for a high end rehab. Just personal preference…
“I am looking for a place to live as a single again”
Do you mean divorcee? Because if you fail at your mariage justbelle, you’re not considered “single” anymore. And normally I’d caution against buying properties as a single. But if you want to go the crazy divorcee catlady route by all means go ahead and buy.
Bob: She wasn’t interested in you anyway, so you don’t need to pull her pigtails.
JB – great summary! I live in a loft and also love the many cool things that you explained so thoroughly! I would want a door on the bathroom but for a different reason than most people would think. If one person gets up or stays up later than the other the shower noise would be an issue. My wife or I can shower without waking the other up.
Justbelle – I think that it is the perfect type of place to start the next chapter of your life. Just don’t invite Bob to the housewarming party. Sounds like he would bring something with a hot sauce that very few guests could tolerate.
Bob – play nice!
“How many rehabbed houses have we seen where they’ve put in $100k and are reselling for $300k more? Plenty.”
Sabrina – very true statement in some areas and niches. I think that the professional rehabber who purchased in short sale etc is very different than the person who has owned the condo for 8 to 10 years and just updated the look. It seems like some of the flipper’s have done well although some of the condo owners that just updated the cosmetics are not rewarded with as much elasticity in price appreciation.
http://www.redfin.com/IL/Park-Ridge/618-Florence-Dr-60068/home/13648411
Rehabbed, 60s, two car garage, semi suburban neighborhood! 2000 sq ft finished space (1500 above grade) nice yard.
$405,000
Selling like hot cakes I tell ya.
“It seems like some of the flipper’s have done well although some of the condo owners that just updated the cosmetics are not rewarded with as much elasticity in price appreciation.”
If all you’ve done is paint some walls and put up new window treatments then, no, you’re not going to be rewarded. But if you put in an entirely new kitchen and bathrooms, odds are, you’re going to make money on that. It seems that’s what these owners have done here so they should get a premium for it (even in this market.)
For instance, I recently saw a duplex up unit in Lakeview that was on the market just 2 years after it last sold and was asking $50,000 more (I believe.) So I looked at the pictures and they DID gut the kitchen. Completely. New cabinets etc. They won’t see all the money back (realtors fees etc.) but it was under contract before I could post about it on CribChatter because buyers simply want “new.” And they’re willing to pay more for it.
“Selling like hot cakes I tell ya.”
Yes- thank you for posting that house Homedelete. It’s also an example of why people are moving to the suburbs. The city just can’t compete with these prices (and the schools.)
“Because if you fail at your mariage justbelle, you’re not considered “single” anymore.”
Stop it Bob.
Don’t listen to him justbelle. Of course you’re single (if you’re divorced or otherwise.)
“Bob: She wasn’t interested in you anyway, so you don’t need to pull her pigtails.”
“Bob – play nice!”
“Stop it Bob.”
Oh snap sorry I didn’t mean to be that abrasive. I’m sorry justbelle I had a bad day. Heard about someone getting let go today (not me but still).
Sabrina, jp3chicago and Bob–LMAO
It’s all good. When I buy a place, I’ll host an open house and invite everyone, even you Bob. I must warn you though, Bob, I will hold my two rather large dobermans in check for the rest of the guests but will let then sniff you aggressively and in rather inappropriate places.
Sabrina – well put but here is another thought.
Homedelete – Exactly the flipper that I was thinking about when you made the earlier comment about Park Ridge. I have seen a few of their properties on the market recently and it makes me want to do one as a hobby. Fortunately I am smarter than that as the point is that it is not a hobby. The reason they are commanding great returns is that they are:
1. Professionals – They have a crew (or at least a bunch of quality subs) ready and waiting to go.
2. Price – They are doing the work at cost in comparison to this condo owner who is hiring contractors.
3. Speed – It can be done without interruption or residents getting in the way. Speed = money
4. Style – The pro knows the mix of high end vs avg. upgrades needed to sell quickly and hit the best only.
5. Purchase price – They are buying the property at a significant discount on the purchase price. THIS is the true difference in the equation.
The reason that they can command such a premium over the resident that fixes up the place is that the previous sales price is at a premium. In this example, and many other owner occupied units purchased during the bubble that were improved, they are at the fixed cost of what they paid for the place. This means that the previous sales price is off by as much as 25% from where the true unimproved base line is today. When they add an addition, new kitchen, or baths they want to improve the value. This is logical and people will pay a premium for new! The issue is that the owner wants to start with their purchase price, tack on the cost of improvements, and then add the same margin as the flipper over what they paid for those renovations. That is just not happening.
Flipper advantage is in the both the purchase price of the property as week as the overall time and cost of improvements. That strategy will be rewarded at a far better rate than this or most other unit owners efforts.
“I had a bad day. Heard about someone getting let go today (not me but still)”
Don’t worry Bob things will be much better after we re-elect the president.
“Oh snap sorry I didn’t mean to be that abrasive. I’m sorry justbelle I had a bad day. Heard about someone getting let go today (not me but still).”
Patience Bob, they will get to you shortly.
“Patience Bob, they will get to you shortly”
That was money Ze! I actually laughed out loud with that comment. Keep them coming.