$129,000 Gain in 11 Months in the Loop? A 2-Bedroom Loft at 20 N. State

20-n-state-approved

This 2-bedroom loft in 20 N. State in the Loop just came on the market.

If it looks familiar, that’s because it was on the market last year and sold in July.

The listing calls it a “Zen designer condo.”

This loft originally had concrete ceilings but a wooden drop ceiling was added.

There are exposed brick walls, maple wood floors, and sliding doors to the master bedroom.

The second bedroom does not have windows.

The kitchen has dark cabinets, stainless steel appliances including a double oven, and a subway tile back splash.

There are heated floors in the bathrooms.

The unit also has a unique feature we don’t see often: a full bar with seating.

The listing says the property is being sold with the furnishings included.

It has the features buyers look for including central air and washer/dryer in the unit.

There’s no parking, but it’s available in the neighborhood for rent. The building is perfectly located for those without their own car as it is at the epicenter of public transportation, including multiple bus and El stops.

This loft has come back on the market for $129,000 more, at $539,000, than it sold for just 11 months ago.

Are prices really going up this quickly in the Loop?

Jesse Barnes at Downtown Realty has the listing. See the pictures here.

Unit #409: 2 bedrooms, 2 baths, 1100 square feet

  • Sold in July 2003 for $260,000
  • Sold in August 2012 for $166,000
  • Sold in July 2016 for $410,000
  • Was listed for rent in March 2017 for $4200 a month
  • Reduced
  • Was listed for rent at $3995 a month
  • Rental listing withdrawn in June 2017
  • Currently listed for $539,000
  • Assessments of $804 a month (includes heat, a/c, gas, exercise room, exterior maintenance, scavenger)
  • Taxes of $5037
  • Central Air
  • Washer/Dryer in the unit
  • No parking (available for rent for $208 a month in the neighborhood)
  • Bedroom #1: 11×20
  • Bedroom #2: 11×12
  • Office: 6×8

25 Responses to “$129,000 Gain in 11 Months in the Loop? A 2-Bedroom Loft at 20 N. State”

  1. Other than the crime scene in the second photo this looks like an incredibly cool space but not for everyone. More of a bachelor pad.

    No, prices are not going up this fast and I suspect that some work was done here. Maybe they had the place decorated and are trying to recoup that by including everything. If it looked this good before then why didn’t they have any photos before and why did it take so long to sell? They also have to actually get that price.

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  2. Is it a profit if they spent a bunch of money upgrading the place and furnishing it? I mean this place thankfully comes with all the art work and furniture, and it looks pretty cool TBH, definitely not cookie cutter.

    I don’t care for the location due to the roaming bands of teenagers everywhere but its a pretty nice loft

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  3. Matt the Coffeeman on June 8th, 2017 at 9:23 am

    Unless I am reading this wrong, the only windows face south to a brick wall only an alley apart. Apparently, “Zen” is realtor codeword for “dark.”

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  4. ^ Seriously, Is there any natural light in this place.

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  5. looks more like a bar/hotel than a home. But that aside, it looks nice. As far as $129k of appreciation…I think the previous purchase for $419k already had all the upgrades done (based on the description wording).

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  6. “south to a brick wall”

    Would be better were it a brick wall. It’s windows for the office space in 1 N Dearborn.

    That’s always been the problem with the 3d and 4th floor units in this building.

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  7. The design is interesting and not something you see every day. I was going to comment that it would be nearly impossible to furnish, but then noticed that the furnishings are included.

    The unit looks really dark though and those windows better be able to cancel out the sounds of the bucket kids.

    I don’t think I could handle living in this particular location. There are too many people in this area all the time.

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  8. “I don’t think I could handle living in this particular location. There are too many people in this area all the time.”

    Jenny for about the same price you could get this and only have to worry about “horses grazing in the pasture.”

    https://www.redfin.com/TN/Collierville/12290-Macon-Rd-38017/home/60713707

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    Rating: -2 (from 6 votes)
  9. It just sucks to be living in a weekend/evening ghost town. The crowd on weekday daytime only brings in additional trash, traffic noise, and panhandlers around.

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    Rating: -4 (from 10 votes)
  10. This area is especially awful on the weekends, when the suburbanites flood in, along with the trash to steal from the suburbanites.

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    Rating: +3 (from 11 votes)
  11. “for about the same price you could get this”

    Is that the same place you’ve linked to before, Ikcy? Or is this one new.

    Walk Score = Zero.

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  12. This area is awful – who would want to live here?

    Other than Target, a Walgreens that for some reason serves Pho, a crapload of sneaker stores, and the homeless community , what does this location offer, exactly?

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  13. PS – I guess you can always get a great deal on true religion jeans at the nordstrom rack. ( sarcasm. )

    Sorry. In a particularly A-hole mood today.

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  14. ” a crapload of sneaker stores”

    Riz, You and I think a lot more alike than I’d admit, maybe because you’re married to a lawyer. I have to walk by this location to get to my office space and I noticed that too. LOTS of sneaker stores all congregated on state st. Nike/Jordan’s, DSW, ALDO, Sketchers, a few others, and a Champs sports is going in at 100ish S State too….WTF, are there really that many urbanites all looking to buy sneakers on State St?

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  15. 12290 Macon Rd:

    Love love love the concept of moving out a minor estate on 7.5 acres on the fringes, yet, only a 45 minute drive to the downtown of a moderately sized US city. I left my office today at 3:45 and I got home at 5:20. It’s only 16 miles as the crow files so I cruised about 10 MPH the entire drive home. AWESOME! The walk score of 0 kinda sucks because there’s no local playground you can just walk to with the your kids. Right now I’m a 10 minute walk from a minor nature preserve with two fishing ponds, two playgrounds, a prairie, and the forest preserve is a short distance away too. Would kind of miss that but not having neighbors is awesome.

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  16. “Is it a profit if they spent a bunch of money upgrading the place and furnishing it?”

    It was remodeled by the prior seller.

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  17. “Love love love the concept of moving out a minor estate on 7.5 acres on the fringes, yet, only a 45 minute drive to the downtown of a moderately sized US city.”

    You can totally do this outside of cities like Nashville, Louisville or Savannah.

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    Rating: +1 (from 1 vote)
  18. I am pretty sure the photos were taken at night, which doesn’t help with an already dark apartment.

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  19. The first picture looks like a bloody crime scene, which is the opposite of zen. In fact, that whole area is the opposite of zen. This would be good to buy as a corporate apartment for a law firm. Partners at the firm, or clients can stay.

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  20. Not exactly true Sabrina….Try driving out to Franklin, TN, 20 miles from downtown Nashville, during rush hour. It’s exactly as described. Big homes lots of land rural settings. Many country music stars and celebs have homes out there but it’s become an 1:30 drive as well.

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  21. homedelete- how about 10 acres on a mountain
    https://www.redfin.com/NV/Reno/200-Vermillion-Rd-89521/home/72236262

    I’ve seen this house in person the views and the drive to it is incredible, pictures do not do justice, and if my wife and I could work from home we’d live there in one second!

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  22. “Riz, You and I think a lot more alike than I’d admit, maybe because you’re married to a lawyer. I have to walk by this location to get to my office space and I noticed that too. LOTS of sneaker stores all congregated on state st. Nike/Jordan’s, DSW, ALDO, Sketchers, a few others, and a Champs sports is going in at 100ish S State too….WTF, are there really that many urbanites all looking to buy sneakers on State St?”

    Inner city youth love their sneakers. This is the perfect spot for all of those shoe stores. Earn money playing your buckets and then buy a pair of shoes.

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  23. “Not exactly true Sabrina….Try driving out to Franklin, TN, 20 miles from downtown Nashville, during rush hour.”

    I didn’t say during rush hour. And there are other cities other than Franklin outside of Nashville.

    But it IS possible to live outside of smaller, regional cities on large acreage and still get to a job. Plenty of those cities.

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  24. HD, you wouldn’t need to walk to parks, etc. You’d have several acres of your own personal park for your kids to play and explore. I’d love to move out to the boonies and simplify life, but wife won’t let me. City living is overrated imho.

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  25. I was in this building only once, and my (and the client’s) impression was that this is definitely for a unique buyer – basically the college kid or new grad who wants the “urban boho” lifestyle; a slightly upscale version of what they saw when the drama club saw a road-show production of “Rent.”

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