Live in a Loft in the Old Schwinn Factory: A 2/2 at 2510 N. Wayne in Lincoln Park

2510 n wayne

This 2-bedroom loft in the Wheelworks Lofts at 2510 N. Wayne in Lincoln Park came on the market in February 2015.

This building is an old Schwinn bike factory and the units have maintained many of their original features.

The loft has 15 foot timber ceilings, exposed brick and a wood burning fireplace.

It has a wall of windows which faces into the courtyard.

The listing says it’s two combined units.

The second bedroom and den, as well as the laundry room, are on the second floor.

The kitchen has stainless steel appliances and stone counter tops.

The listing says the baths are new.

The loft has other features that buyers are looking for including a parking space, central air and in-unit washer/dryer.

Lofts were the hottest type of condo fifteen years ago.

Are they still “in”?

Sharon O’Hara at @Properties has the listing. See the pictures here.

Unit #106: 2 bedrooms, 2 baths, 1650 square feet

  • I couldn’t find it in the county records- maybe because it is two combined units- but Redfin says it last sold in May 2006 for $305,000.
  • Originally listed in February 2015 for $475,000
  • Currently still listed for $475,000
  • Assessments of $455 a month (includes snow removal)
  • Taxes of $5073
  • Central Air
  • Washer/Dryer in the unit
  • Outdoor parking included
  • Wood burning fireplace
  • Bedroom #1: 18×13 (main level)
  • Bedroom #2: 8×8 (second floor)
  • Den: 7×13 (second floor)
  • Laundry room: 7×5 (second floor)

 

15 Responses to “Live in a Loft in the Old Schwinn Factory: A 2/2 at 2510 N. Wayne in Lincoln Park”

  1. Nice looking unit that is well decorated. Second floor loft area looks like anyone over 5’0 in height will have problems. Unit looks like a large 1 bedroom to me.

    Lofts are popular still, but it is hard to find truly unique ones anymore. I hated all the soft loft conversions with the bowling alley layout.

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  2. I like this place and old factories turned into condos in general. The common courtyard and decks give me pause due to noise. All of the noise echoing around in the courtyard might be irritating.

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  3. Does the second bedroom with hideous pink duvet has a window? Also the roof is so low it looks like a train sleeper cabin. Pass.

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  4. Suitable for midgets?

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  5. Nornan Bates Mother on March 27th, 2015 at 10:51 am

    There seems to be a serious disconnect between unit quality and asking price running throughout recent posts. This looks like a $300k unit for a young kid who doesn’t mind interior frost on the brick walls during the winter. Or a crappy kitchen.

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  6. “There seems to be a serious disconnect between unit quality and asking price running throughout recent posts.”

    Part of that is Sabrina’s cherry picking, and part is due to the lack of inventory. The properties that she has listed recently aren’t reflective of the current market IMO. They are the outliers.

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  7. Calling all divorced Chads with a kid

    Like the old school mallets on the wall

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  8. BTW, for the price, I would much rather buy this place:

    https://www.redfin.com/IL/Chicago/100-E-14th-St-60605/unit-1310/home/39558210

    I know it is a different hood.

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  9. I have to say I think you made the biggest point NBM. Quality of units suck for the price. It seems like if you’re not in the $1m+ range 85% of listings are just pathetic for the list price. . Been a real sobering process trying to find a place that doesn’t have major fails AND not also feel like you’re getting ripped off. Of course Sabrina is “Cherry picking” how can she not, unless she shows all inventory? I don’t think her examples are out of line.

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  10. “I know it is a different hood.”

    You can’t compare the South Loop with Lincoln Park. Sorry. They’re not even spoken of in the same breath.

    And at least you should compare a loft with another loft.

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  11. “Does the second bedroom with hideous pink duvet has a window?”

    You don’t have to have a window for a bedroom to be considered a bedroom in Chicago.

    It DOES have to have some form of natural light (which is why loft bedrooms sometimes have 3/4th walls or bubble glass walls) and it has to have a closet.

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  12. 8×8 is not a bedroom.

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  13. As a matter of principle I like to buy decent things in a range I can afford. If I cannot afford a Porsche, I won’t go buy the Baxter from 95. I’d rather go buy a nice newer VW. So instead of the depressing loft in LP, I’d rather go to a hood I can get a nice apartment.

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  14. “And at least you should compare a loft with another loft.”

    I don’t agree with your statement, but if you insist, I prefer this loft to the one featured:
    https://www.redfin.com/IL/Chicago/523-S-Plymouth-Ct-60605/unit-601/home/14092568

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  15. “And at least you should compare a loft with another loft.”

    If you’re looking to purchase a loft in Lincoln Park, you’re not suddenly going to tell your agent, “hey- by the way- let’s go look at high rises in the South Loop which is miles and miles away from my targeted neighborhood and not even a loft.”

    Sorry- not going to happen.

    But yes- if you are already looking for lofts in the South Loop- then the link you gave to a sold loft in Printers Row (which has some of the best lofts in the city)- shows you can get a lot for your money. The one you linked to, in particular, actually looks directly into Library Tower which was built behind this building at 523 S. Plymouth and greatly impaired the natural light and views of all the east facing, gorgeous lofts in the building.

    But it’s a reminder to all buyers in condo buildings short or tall, that ANY lot next to the building can, and will, be built on. And not only that- unless the building next to that high rise is a historic, protected building (like a Cathedral or something), then it can (and might) be torn down and your views could be blocked as well.

    It’s similar to what happened to 300 W. Grand in River North. The Silver Tower was built just to the north and now all the north facing units look directly into a parking garage. Good times.

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