Do You Love Big Authentic Corner Lofts? A 1-Bedroom at 1601 W. School in Lakeview

1601 w school approved

This 1 bedroom loft in the Tower Lofts at 1601 W. School in Lakeview just came on the market. (Wow- this picture is old. I need to get a new one of this building in the spring. Sorry Tower Lofts!)

The building was converted into lofts in 1995. It’s a former Weiboldt’s department store with 79 units and a parking garage as well as ground floor retail.

This loft has authentic loft features including 16 foot concrete ceilings, exposed brick and 8 foot industrial windows.

It’s a rare corner loft with west and north views.

The bedroom is fully enclosed and has a window. There’s also a north facing balcony off the living room.

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

The listing says the bathroom was “gut rehabbed” in 2017.

There’s a new water heater and AC condenser.

The loft also has custom wood blinds and a new tiled fireplace.

It has central air, in-unit washer/dryer but there’s no deeded parking with this unit. There’s rental parking, presumably in the building, for what looks to be $100 a month.

But given the location, with the new huge Lakeview Whole Foods on the corner, and other shops and restaurants surrounding the building, along with the Paulina Brown line stop nearby, will lack of parking even be a concern with the sale of this loft?

Aleksey Polschchakov at Keller Williams-Lincoln Park has the listing. See the pictures here.

Or go to the Open House this Sunday, Jan 21 from 11 – 2 PM.

Unit #311: 1 bedroom, 1 bath, 1300 square feet

  • Sold in January 1996 for $139,000
  • Sold in January 2000 for $229,000
  • Sold in September 2002 for $257,000
  • Sold in June 2004 for $248,000
  • Sold in March 2008 for $310,000
  • Sold in January 2013 for $245,000
  • Currently listed for $324,000
  • Assessments of $440 a month (includes premium cable, free XSport membership until 11/18 and then half off, exterior maintenance, scavenger, snow removal)
  • Taxes of $5142
  • Central Air
  • Washer/dryer in the unit
  • No deeded parking- but looks like there’s parking in the building for $100 a month
  • Bedroom: 13×15

 

19 Responses to “Do You Love Big Authentic Corner Lofts? A 1-Bedroom at 1601 W. School in Lakeview”

  1. Way overpriced. For that ask vs. the 2013 price, I expect a nice new kitchen, not this dated, Menardsian crap, and yes, no parking is a concern, it nearly always is.

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  2. Way overpriced? That’s a stretch. $324K for good square footage, decent finishes, and low-ish assessment is not way overpriced IMO. Unit 309 (1×1) sold for $299,990 in April 2017. I couldn’t find photos but given the square footage I’m guessing it’s not a corner unit. Unit 506 (2×2) sold for $500K in June 2017. I think this goes for close to asking. No parking in this location is a concern, but at least there’s an option in the building.

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  3. 1300 SF LOLZ!!!!
    JAN TERRI HAS AN 86 PONTIAC SUNBIRD THAT DOES AN 11SEC QUARTER MILE.
    TAKE THIS REALTOR TO MEASURING SCHOOL. FOOL!!!
    GO OLD STYLES!!!!!!!!!!!!

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    Rating: +12 (from 14 votes)
  4. I toured this property in 2013 and offered $240k. The realtor was strange (I went direct) and blew my offer off like it was an insult. I guess she got an extra $5k from the eventual buyer…

    I love the unit, the only downsides are (i) unit is right next to an exit for a stairwell which feels off and (ii) the view of the parking garage.

    I would have loved to buy this unit with the large windows and good floor plan due to enclosed BR.

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  5. I think there was always parking available to the unit owners at that cost, just not deeded. That was my recollection when I asked about buying a parking space.

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  6. or you could just stare longingly at that parking lot across the street wishing you had a space available just for you

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    Rating: +6 (from 10 votes)
  7. Having been in this building a lot (at the gym and coffee shop on the first floor, and also at a friend’s unit), this should not sell for over $300K. That is crazy town. Is that picture old on the post, or is there really some sort of façade/window work going on? Was there a special assessment for that?

    I believe this building originally was a Wieboldt’s department store.

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  8. That is probably an old picture of the building. They had some extensive facade work done a few years ago.

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  9. Literally the second sentence of the post:

    “(Wow- this picture is old. I need to get a new one of this building in the spring. Sorry Tower Lofts!)”

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  10. “Literally the second sentence of the post:”

    Yes, and Sabrina also mentioned it was a Wieboldt’s department store.

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  11. 1300 square feet and only one bathroom? Oh, the humanity!

    Speaking of which, I had that stomach bug that is going around and I can’t imagine two people both having that at once and not having two toilets.

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  12. I would buy this place in a minute. Was under contract within 24 hours of listing.

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  13. “or you could just stare longingly at that parking lot across the street wishing you had a space available just for you”

    At the Target?

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  14. “Way overpriced. For that ask vs. the 2013 price, I expect a nice new kitchen, not this dated, Menardsian crap, and yes, no parking is a concern, it nearly always is.”

    I think those are the original cabinets.

    When do you have to replace them? Is it 10 years? 20 years? 30 years?

    Who will get left holding the bag and having to put out the $20k- $40k to update it all?

    The bathroom was already done, but the same thing applies to those. If the condo was built 20 years ago- someone is going to have to pay to update.

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  15. “Speaking of which, I had that stomach bug that is going around and I can’t imagine two people both having that at once and not having two toilets.”

    I thought of you the other day, Jenny. I wanted to put those sliding barn doors on a bathroom and Wolfy was like “Nah, brah. What if someone has explosive diarrhea? You need a REAL door.” And I was like “AH, Jenny’s rule!”

    But no one better be going and having that in my house anyway!

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  16. Closed for $342,000

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  17. “Closed for $342,000”

    105% of ask? Really?

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  18. it was listed at 324,000. perhaps someone entered the sale price wrong and mixed up the last 2 numbers.

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  19. “105% of ask? Really?”

    There was a “best and final offer” on this unit, wasn’t there?

    Gary keeps acting like there’s no bidding wars and if there are, it’s because the realtor listed the property too low (and isn’t doing his job.)

    Was this listed too low? With record low inventory?

    I guess not.

    Was this a cash sale? I wonder how it appraised out for this much over ask?

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