Looking for a Renovated Loft? A 1-Bedroom at 523 S. Plymouth in Printers Row

523 s plymouth

This 1-bedroom loft in the Peterson Lofts at 523 S. Plymouth in Printers Row in the South Loop came on the market in September 2017.

The Peterson Lofts was built in 1917 and has 49 units. It’s one of the rare buildings with indoor parking.

This loft is west facing, which means its views are not blocked by Library Tower, which was built on the east side of this building on State Street.

It has concrete ceilings, exposed ductwork, exposed brick and a wall of industrial windows.

The listing says it has been “totally remodeled” and has a custom kitchen and new baths.

The kitchen has dark wood cabinets, granite counter tops, a designer backsplash, stainless steel appliances and a breakfast bar.

The bedroom is not fully enclosed but has new carpet, a full bath with a double vanity and a walk-in closet.

This loft has features buyers look for including central air, washer/dryer in the unit and parking is available to rent in the building.

Originally listed for $329,500, it has been reduced $30,500 to $299,000.

At 1100 square feet, is this a deal compared with renting in the neighborhood?

Stefan Harbov at Avian Realty has the listing. See the pictures here.

Unit #702: 1 bedroom, 1.5 baths, 1100 square feet

  • Sold in May 1995 for $145,000
  • Sold in September 1997 for $156,500
  • Sold in July 2006 for $285,500
  • Lis pendens foreclosure filed in January 2015
  • Judicial county sale in December 2016 for $230,000
  • Originally listed for $329,500
  • Reduced
  • Currently listed for $299,000
  • Assessments of $525 a month (includes heat, cable, exercise room, exterior maintenance, scavenger, snow removal)
  • Taxes of $4509
  • Central Air
  • Washer/Dryer in the unit
  • Parking is leased in the building or neighborhood
  • Bedroom: 14×16

13 Responses to “Looking for a Renovated Loft? A 1-Bedroom at 523 S. Plymouth in Printers Row”

  1. Hmm lets see. Cough up 60k then pay 2k a month (plus parking) for a glorified studio apartment in an area with slow appreciation. Pass.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  2. with only a 1/3 wall delineating the space between the living room and bedroom, whats the point of the bedroom door? No need for the door, just jump over the wall. LoL

    VA:F [1.9.22_1171]
    Rating: +7 (from 7 votes)
  3. “whats the point of the bedroom door?”

    Something to slam when you are mad at your spousal equivalent?

    VA:F [1.9.22_1171]
    Rating: +3 (from 5 votes)
  4. I think the door is to give a little give of personal space in the sitting area of the bedroom. At least with the door shut you’ve feel like you weren’t right in the middle of the living room with everyone watching you.

    My main quibble is with the strip of brick that’s left between the kitchen tile and the ceiling. I’m all for exposed brick in this type of place, but that doesn’t look right. The other wall has drywall all the way up, I’d have just extended it around the corner.

    At least it faces east. The east facing units in this building lost big time when the building on State went up right behind them.

    VA:F [1.9.22_1171]
    Rating: -2 (from 2 votes)
  5. That doorway to the bedroom is just silly. They should get rid of it and just keep the fireplace as the natural room divider or just close off the room entirely and keep a transom at the top of the wall so the bedroom still gets some natural light.

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  6. …little BIT of personal space… and “…you’d feel…” and the worst “faces WEST…”

    Fat fingers today. Sigh.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  7. “I think the door is to give a little give of personal space in the sitting area of the bedroom. At least with the door shut you’ve feel like you weren’t right in the middle of the living room with everyone watching you.”

    cool close your door, do your personal things in the bedroom….none of your guests in the living room will see. lol

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  8. Hah!We had this unit on the market as a short sale before the judicial sale and put it under contract twice. There was little doubt what the market was going to pay at that time but the bank was being a total dick and wouldn’t approve our sale. The seller finally told the bank to stick it and 2 years later the bank ended up getting what we had it under contract for.

    I don’t think that rental parking is in the building. When we had the listing there were very few spots in the building and we had to find rental options around the corner.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  9. I’m not a loft person and never will be, but as far as lofts go, I’ve seen much worse. This one is bright and cheerful looking, with indoor parking, a roof deck, a good location and priced fairly. It’s only doubled in price since 1995, it seems, which means barely keeping up with inflation. So I guess don’t buy it as an investment. But it does look like a nice place for a 20-something who works downtown to call home for a few years.

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  10. MUWHAHAHAHAHA!
    NOT ENUFF BAND PRACTICE SPACE. BUT…
    BABY CAN LIGHT MY FIREPLACE!!!
    GO DODGERS LOLZ!!!!!

    VA:F [1.9.22_1171]
    Rating: -1 (from 3 votes)
  11. ” It’s only doubled in price since 1995, it seems, which means barely keeping up with inflation.”

    $145 in ’95 = ~$235 today. So, *if* it gets ~$290 (possible, I guess), then it’s right on everything else–CPI+100bp.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  12. PS: I always use teh CPI Calculator that you can find here:

    https://data.bls.gov/cgi-bin/cpicalc.pl

    I do not always match months.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  13. Thanks, anon. When I said inflation had doubled everything since 95 I knew I was just spitballing it. Probably more accurate to say prices have doubled since 90.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)

Leave a Reply