This 2-Bedroom Loft Reduced $30K After Just 2 Days on the Market: 203 S. Sangamon in the West Loop

203 s sangamon #2

This 2-bedroom in the Beacon Lofts at 203 S. Sangamon in the West Loop came on the market on September 5.

The Beacon Lofts was converted in 1998. I believe all 48 units are duplex up units. There’s an outdoor parking lot but some lofts also have indoor parking.

It’s a duplex up south facing loft with 20 foot ceilings and a column of exposed brick.

One bedroom is on the main floor. It looks like it doesn’t have direct windows but the listing says its fully enclosed.

The master bedroom is on the second floor.

The kitchen is new with 2-tone Dura Supreme cabinets, quartz counter tops, Bosch package, and GE French door.

The listing says there’s a brand new gray marble second bath, but it doesn’t have a picture.

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

It is one of the lofts in the building that has the garage parking, and it’s included in the price.

From what I can tell from the pictures and the listing, the kitchen and the second bathroom were updated.

You can see the 2013 listing pictures here.

This loft last sold in 2013 for $430,000. It came on the market for 45% more at $625,000.

It was then reduced $30,000, or about 5%, within 2 days.

Why would you need to reduce so quickly in one of the hottest neighborhoods and in a hot housing market?

Lynn Weekly at @Properties has the listing. See the pictures here.

Or you can see it in person at the Open House on Sunday from 12 PM to 2 PM.

Unit #212: 2 bedrooms, 2 baths, 1521 square feet, duplex up

  • Sold in December 2002 for $315,000
  • Sold in April 2004 for $341,000 (CCRD says $241,000 but I think it’s a typo based on the mortgage amount)
  • Sold in July 2007 for $415,500
  • Sold in September 2013 for $430,000
  • Originally listed on September 5, 2017 for $625,000 (included parking)
  • Reduced 2 days later
  • Currently listed for $595,000 (still includes the garage parking)
  • Assessments of $431 a month (includes cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
  • Taxes of $7058
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 14×13 (second floor)
  • Bedroom #2: 12×10 (first floor)

 

3 Responses to “This 2-Bedroom Loft Reduced $30K After Just 2 Days on the Market: 203 S. Sangamon in the West Loop”

  1. “Why would you need to reduce so quickly in one of the hottest neighborhoods and in a hot housing market?”

    Perhaps because #207 came on the market one day later for $515K?
    https://www.redfin.com/IL/Chicago/203-S-Sangamon-St-60607/unit-207/home/12787638

    This seems like a lot of money for a non enclosed master bedroom and a windowless second bedroom with see through doors. Decent square footage though if accurate.

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  2. I can’t imagine paying this much when 207 is $80k less. 207 doesn’t have a pole in the middle of the kitchen and while 207 looks a little more dated, I hate the kitchen in 212.

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  3. I can’t tell if it is just the lack of clutter in #212 or much better lighting, but it feels a ton more spacious than 207 – – even though, according to the listing 212 is only 60 or so SF bigger. Inclusion of the two indoor spots (versus one exterior for the other unit?), plus the recent updates seem to warrant a premium…not sure if either unit is priced correctly or not. They both seem expensive for what you get.

    I don’t care for either floor plan – – they are really 1-beds with extra room for the occasional guest or baby. No privacy in either bedroom for this to actually function as a fully livable 2-bed.

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