Checking in on the Metropolis: A 2/2 at 8 W. Monroe in the Loop

8 w monroe

This 2-bedroom in The Metropolis at 8 W. Monroe in the Loop came on the market in September 2015.

The building was converted into lofts and soft lofts in 2006.

There are 170 units.

We last chattered about this building back in the early days of the bust when there were short sales and auctions of the penthouses/parking spaces. See our 2009 chatter here and here.

Those that look out on Monroe or State have the big loft windows. The units in the “back” of the building, facing north, have smaller windows.

This unit faces north but has a balcony, which is only found on some of the north facing units.

It has a large master bedroom with a walk-in closet.

The kitchen has cherry cabinets, black granite counter tops and stainless steel appliances.

It has the other features buyers look for including washer/dryer in the unit and central air. Parking is available in the building for $35,000 extra.

This unit is leased through October 2015.

It last sold in 2006 and is now listed for $115,000 under the 2006 purchase price.

With rents continuing to soar, is this a good unit for investors to take a look at?

Matt Laricy at Americorp has the listing. See the pictures here.

Unit #1208: 2 bedrooms, 2 baths, no square footage listed

  • Sold in May 2006 for $425,000 (parking included)
  • Originally listed in September 2015 for $309,990
  • Currently still listed at $309,990 (parking is $35,000 extra)
  • Assessments of $681 a month (includes heat, a/c, water, gas, parking, doorman, exercise room, exterior maintenance, scavenger and snow removal)
  • Taxes of $3459
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×10
  • Bedroom #2: 13×11

10 Responses to “Checking in on the Metropolis: A 2/2 at 8 W. Monroe in the Loop”

  1. “This unit is leased through October 2015.”

    So, 4 more days.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  2. This place makes me feel sad.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  3. “makes me feel sad.”

    That 2d bedroom is awesome.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  4. yikes! Seller must be an idiot for not listing higher than the 06 price, right?

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  5. Or Monroe and State isn’t the GZ.

    Those bathroom finishes would have looked dated in ’06, tho.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  6. Hey! Bought my previous and current iPhones at the Verizon pictured below Blick. Memory lane (well, half skid row, half memory lane).

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  7. “half skid row, half memory lane”

    So, Nonny’s vote is “not GZ”.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  8. “Or Monroe and State isn’t the GZ.”

    true, I call it the transient wierdo epicenter of the city

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  9. “yikes! Seller must be an idiot for not listing higher than the 06 price, right?”

    In this building? You’re kidding, right?

    Try and understand the market Sonies. If you’re in a failed building and you’re almost at break even, my god man, what a triumph. This building, actually, is a sign that the bubble is alive and well.

    I once went to the sales center in this building where the sales person told me about all the California investors buying the units. She said, “they like it because it’s near the El.” I wonder how that worked out?

    So if just 8 years later after that debacle, after the worst housing bust in US history, they are getting these prices? Wow. Amazing.

    I’m telling you- this second bubble is even more fierce than the first. We haven’t seen the large scale fraud rings like last time, but every bubble is different and this one is just in the early innings.

    VN:F [1.9.22_1171]
    Rating: +1 (from 5 votes)
  10. Now a short sale at $251,450, plus $35k for the parking.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)

Leave a Reply