How Protected Are Your Views? A 2-Bedroom at 1250 S. Indiana in the South Loop

1250 s indiana

This 2-bedroom at Lakeside on the Park at 1250 S. Indiana in the South Loop just came on the market.

It’s an 11th floor corner unit with north and east views.

The listing says you have Lake, Millennium Park, Navy Pier and skyline views.

There are hardwood floors in the living/kitchen and carpet in the bedrooms.

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

Built in 2005, this unit has all the features buyers look for including central air, washer/dryer in the unit and garage parking which is included.

The listing says the building doesn’t have any rental restrictions. The building reserves are apparently $470,322 and there haven’t been any specials.

In the pictures, there’s an empty lot in front of this building.

Haven’t these big high rises been pitched for the area directly to the north of this building?

How well do you investigate the views, and whether or not they are protected or “safe”, when you are buying a city property?

Do you care or is that part of city living?

Chester Jakala at Telequest Corporation has the listing. See the pictures here.

Unit #1101: 2 bedrooms, 2 baths, 1000 square feet

  • Sold in March 2005 for $342,500 (parking included)
  • Sold in March 2005 for $393,000 (parking included)
  • Currently listed for $395,000 (parking included)
  • Assessments of $403 a month (includes cable, exercise room)
  • Taxes of $3909
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×10
  • Bedroom #2: 11×10

 

17 Responses to “How Protected Are Your Views? A 2-Bedroom at 1250 S. Indiana in the South Loop”

  1. Easy, it’s the nasty South Loop, so you just don’t live there, period. Views or no views become somebody else’s problem.

    VA:F [1.9.22_1171]
    Rating: -9 (from 21 votes)
  2. “Haven’t these big high rises been pitched for the area directly to the north of this building”

    Yes the building that will block the west views of The Grant, a few CC’ers rave about but i think is a dead fish for many reasons and one is the building you speak of.

    I swear something has been in the works for that spot back to 2006, but just hasnt been viable or something. A building will get built there its just a matter of what type and IIRC it has commercial mixed zoning so anything can happen. probably will be commercial bottom floor and residential top.

    hmmm, i wonder with our schools tax dollars building an arena for depaul if they would put a condo in that spot?

    VA:F [1.9.22_1171]
    Rating: -2 (from 4 votes)
  3. Phase 1 of Crescent Heights is going into that lot.

    Basically any empty lot, parking lot, low rent building, even a sliver of railroad track can be built on at some point.

    VA:F [1.9.22_1171]
    Rating: 0 (from 4 votes)
  4. Now on to CC’ing the subject property….

    …AGAIN another place built with no room for even a small dining table. If you have guest come over for food only 2 of them can eat at a time, and they get to stare at your rental grade cabinets that have no pulls.

    Oh and for 395k you get the closet doors i had in my first apartment over 20 years ago. and the bathroom of first apartment out of college.

    Its not a bad place, but of 395k even renting it out doesnt calc out well either.

    VA:F [1.9.22_1171]
    Rating: -1 (from 5 votes)
  5. Oh by the way, thats one tight arse parking spot! probably best to avoid listing a picture of that.

    VA:F [1.9.22_1171]
    Rating: 0 (from 6 votes)
  6. “Now on to CC’ing the subject property….” This isn’t a bad unit as far as 2/2 condos. Is it worth $400K? I doubt it but I hope they get close because it will serve as a comp for my wife’s condo if we try to sell end of summer.

    VA:F [1.9.22_1171]
    Rating: -1 (from 3 votes)
  7. Those low reserves would give me pause. It’s getting to be about the age when tuck pointing might be in order. Those balconies also need to be maintained. Then, you have the parking lot membranes that will need to be worked on every so often.

    VA:F [1.9.22_1171]
    Rating: 0 (from 4 votes)
  8. Tight Parking space thanks to your neighbors… lol

    VA:F [1.9.22_1171]
    Rating: +2 (from 6 votes)
  9. Looks like corporate short term housing – ie an apartment

    VA:F [1.9.22_1171]
    Rating: 0 (from 4 votes)
  10. Looks like it should retain a sliver of northerly view:

    http://chicago.curbed.com/2015/9/23/9918484/76story-rafael-vinoly-tower

    Groove: nevermind the closet doors, how about the $12 closet shelf? That crap pulls out of the wall if you load it up.

    VA:F [1.9.22_1171]
    Rating: -4 (from 4 votes)
  11. Luis_Carruthers on March 23rd, 2016 at 12:29 pm

    My kitchen cabinets are similar to these. Anyone know if sanding and staining white is an option for this?

    VA:F [1.9.22_1171]
    Rating: -2 (from 2 votes)
  12. ” nevermind the closet doors, how about the $12 closet shelf? That crap pulls out of the wall if you load it up.”

    Ha, ha. I saw that shelving at the dollar store. The package came with the hanging pole. wonder why they opted not to use it?

    “My kitchen cabinets are similar to these. Anyone know if sanding and staining white is an option for this?”

    without seeing in real life, i will say yes. remember to skip the matte. full on gloss or minimum semi-gloss will save you when cleaning. if really want matte get the stuff made for baths and kitchens.

    VA:F [1.9.22_1171]
    Rating: -2 (from 2 votes)
  13. Decent unit. Overpriced, just like everything else right now. The bigger problem is the reserve. I’d expect to see at least $10,000 per unit in the building this size. It looks like there is at least 200 units, so I would expect to see $2,000,000 in reserves. It was built 10 years ago, so stuff will start breaking down in the next several years.

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  14. This is so cheap looking. From the bathroom fixtures to that tiny medicine cabinet to the doors. The owner of this condo probably knows what is going up there and he is taking off. In fact, his car is already gone.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  15. Homeowner’s Associations in the three buildings to the east are having a joint meeting tonight (Thursday March 24) to discuss the proposal for the lot to the north, as well as the former Central Station office/model site between this building and Tower 4.

    The latter site is limited to four stories (no higher than the garage podium to the east), but residents are understandably nervous when the city is entertaining other proposals that violate the master plan for the area.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  16. There are actually 168 units in the building. $10,000 in reserves for a unit with $403 assessments would be 2 years worth. That’s pretty rare. What you really want to see, and you don’t see often enough, is a building that has some kind of reserve study that actually projects needed capital. And in the absence of that you can ask the building manager if there are any big projects coming up.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  17. Yes, the views will be blocked to the north in the near future, but there have been big Crescent Heights signs advertising the coming development on that property for years. So no surprise to any potential buyers.

    The only thing I don’t like is the lack of dining space. Great location, with a residential feel and surrounded by upscale condos & townhouses. I’m amused by the knocks on the South Loop. I won’t attempt to extol its virtues but I’ve lived here for six years and am extremely happy.

    Closets: most condos come with these doors and shelving. It doesn’t take much investment to upgrade these yourself: it’s what I did. Do people really eliminate homes based on closet shelving? Kind of like not buying because the paint isn’t what one prefers.

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

Leave a Reply