The 1-Bedroom Loft Dream 5-Years Later: 2525 N. Sheffield in Lincoln Park

Some of you may remember the Tru-Lofts at 2525 N. Sheffield in Lincoln Park from the days of the housing boom as it was an apartment to condo conversion that took place in the spring of 2007.

The original listings for the units in 2007 said you could buy the unit “as is” or you could purchase one of the upgrade packages.

This 1-bedroom plus loft recently came on the market.

The listing says it has been “gut rehabbed” and that the kitchen has new cabinets, a tile backsplash, granite counter tops and stainless steel appliances. (upgrade package?)

The loft has exposed brick and a steel/metal ceiling.

Currently, the master bedroom is being used as a nursery and the second level loft is being used as the master bedroom.

It has central air, washer/dryer in the unit and one car parking is included.

Originally listed in early September 2012 for $289,000, it has already been reduced $14,100.

The loft is now listed $3,900 above the 2007 purchase price.

Given all that has happened in the housing market since this building was marketed and sold, will this loft still manage to re-sell for near the 2007 price?

Jenna Cody at @Properties has the listing. See the pictures here.

Unit #3F: 1 bedroom, 1 bath, no square footage listed

  • Sold in May 2007 for $271,000
  • Originally listed in September 2012 for $289,000
  • Reduced
  • Currently listed at $274,900 (parking included)
  • Assessments of $151 a month
  • Taxes of $4185
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom: 13×12
  • Loft: 18×15

 

18 Responses to “The 1-Bedroom Loft Dream 5-Years Later: 2525 N. Sheffield in Lincoln Park”

  1. You guys are disgusting, quit thinking about all the kinky shit you could do with all the places to put your swings and harnesses and other things right about that bed!

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    Rating: +12 (from 12 votes)
  2. JJJ – well now that you mention it…
    ::Furiously grabs cell phone schedule showing with realtor::

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    Rating: +2 (from 2 votes)
  3. There needs to be a 50 Shades of Grey reference somewhere in the listing. Like “Your inner goddess will never grow bored with this one bedroom loft.”

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    Rating: +2 (from 2 votes)
  4. That ceiling is unreal. Wow. was not expecting to see that….

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  5. I have never seen that bedroom ceiling situation EVER in any listing. That is extremely strange, to say the least. Beautiful furnishings, very clean, clearly the baby situation forced them upstairs. I don’t know how they sleep at night under those roof supports. That can’t be good feng shui.

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    Rating: +4 (from 4 votes)
  6. I’ve seen ceilings like this in a few other lofts, it’s rare but they’re out there. This loft for example in no-man’s-land: http://tours.vht.com/realestateforsale/PhotoGallery/1059318/Photo-Gallery-2675-W-Grand-Unit-201-Chicago-Illinois_60612.aspx

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  7. In addition to the scariness of the ceiling/decapitation risk/etc., what is the sound transmission like? I certainly wouldn’t want to have my bed so close to a ceiling that most likely (unless there’s some great insulation above it) would likely transmit far more sound than a wood floor/ceiling.

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    Rating: +3 (from 3 votes)
  8. JAH – I would think that there is probably concrete on top of the metal, so the sound transmission would be the same as concrete.

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  9. Those ceilings in the bedroom seem extremely short, maybe 5 feet tall?

    perfect for the vertically challenged or perhaps hunchbacked?

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  10. I still find it inconceivable that people will actually PAY MONEY and GET A MORTGAGE to live like this. The place has all the discomfort and crudeness of a former industrial space with none of the things that make some lofts really beautiful, like a lot of space and visual interest.

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    Rating: +1 (from 3 votes)
  11. “I still find it inconceivable that people will actually PAY MONEY and GET A MORTGAGE to live like this.”

    There is a market for this stuff. Think under 28 consulting guy who uses it to pull mad college tail. Girls under 26 probably think this is the best thing and aren’t sophisticated enough to see how utterly redonkulous the ceiling in the bedroom is. It made me laugh out loud though–it’s the Costco/Sam’s club ceiling!

    Think about it: get an Iowa girl home from Mad River/Kirkwood to this place and your odds went from 75% to 98% of sealing the deal. And when her friends find out…well that’s the next lily pad.

    Although as a rental it still makes far more sense for this, some people don’t like to lie so telling said tail you “own” it just means it ups the stage of the clinger by 1 or 2.

    The RE valuations on Sheffield around here just make me laugh out loud because given it’s proximity to the el what I’ve written is the only conceivable scenario to describe who would buy these in 2012.

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    Rating: +3 (from 7 votes)
  12. “perfect for the vertically challenged or perhaps hunchbacked?”

    Or whose parents dropped them off in Sam’s Club/Costco/Pace for hours at a time when they were little in lieu of daycare. (whatever happened to Pace??)

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  13. Proximity to the el has never hurt property values. Quite the contrary, in fact. When I moved here decades ago, I noticed that the most outrageously overpriced rentals were on Belmont, and the closer the the el stop, the higher the rent for less space and fewer amenities. A few blocks away from Belmont in either direction got you a better place for a lower price.

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  14. [Elliot] “I’ve seen ceilings like this in a few other lofts, it’s rare but they’re out there. This loft for example in no-man’s-land:”

    Holy hell that is an awesome space. They are using it terribly (with a truly god awful kitchen for such a beautifully raw space) but that is what a loft should look like!

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  15. The ceiling doesn’t bother me as much as claiming this place is “gut rehabbed” when the only bathroom hasn’t been touched since the 80’s.

    I think Bob is right on his call. Only problem is this former under 28 consulting guy forgot to wrap it and now has to move. Eh, he’s probably past the college aged girl age by now anyways…..

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  16. Another potential inhabitant: trust-fund-baby who majored in some kind of “arts” in college, saw “Rent” 10 times during undergrad years, and thanks to the folks’ largesse is enjoying the urban-hipster vibe while using the space as a “live-work” tax dodge. And getting plenty of “action” from the nearby DePaulsters.
    Vive la vie boheme!

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  17. “Gut rehabbed” = stainless steel appliances/granite countertops and the original 1914 leaded plumbing and a fuse box .in Chicago. It will be an “apartment” again very, very soon. Yup, fuses. I hadn’t seen those since about 1978 in Detroit. I saw them in “Andersonville” though.

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  18. So Schaumburg/Schompton visited my “gut rehab” condo rental in Lakeview East and just adored the “exposed brick” in the kitchen (I hated it as it was Detroit lofts circa. 1989).

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