Back of the Yards Authentic Lofts: 4807 S. Ashland
Despite the recent housing boom, do some Chicago neighborhoods still offer opportunities?
Back of the Yards is a neighborhood on the Southwest Side near Bridgeport and McKinley Park. These lofts at 4807 S. Ashland are in an old department store that was converted in 2005.
Will artists, writers and other creative types do for Back of the Yards what they’ve done for other neighborhoods such as Wicker Park and Bucktown?
Unit #201: 2240 square feet, 2 bathrooms
- Sold in April 2005 for $219,500
- Currently listed for $224,900 (parking included)
- Assessments of $307 a month
- Rising Realty LLC has the listing
Unit #402: 2 bedrooms, 1 bath, 1800 square feet, roof rights
- Sold in May 2005 for $241,000
- Currently listed for $265,000 (parking included)
- Assessments of $312 a month
- Dream Town Realty has the listing
Over the last 20 years, artists have migrated north and then south. Currently, Chicago’s artistic community is struggling with the recession. When the economic climate improves, the migration will resume in areas like this.
I’d love a space like this.
statistically back of the yards is “safe” unless you’re a gang member….though you’d have to hide the stuff in your car, be vigilant when alone, etc.
downsides: bus-only CTA (though the buses in this area travel faster cuz of less congestion), your friends have no idea where you live, preferable to have a car to get to entertainment, no street taxi service.
upsides: lots of taquerias, grocery stores, less traffic, feeling like you’re in Chicago during the pre-Starbucks era.
looks like unit #303 is up on the market too. listed for 259.9, from an original list of 269.9k. per listing, 2bed/1bath, 1750 sft, LOOKS like a rear unit. the other two appear to be front-facing units, with larger windows. total no. of units is 13 (i think – one listing says there are 16, all day; the other 2 say 16).
these are rockin’ spaces! true, open lofts – huge potential.
#402 with Dream Town has 2000 sq ft of roofrights?! bad*ss!
at THIS location, a rooftop deck would probably have 360-views, including, on clearish, full-skyline. very cool – very unique.
Not so sure areas like this are ripe for gentrification. Yes these are beautiful units, but artists are poor. Poor meaning they often have no car. Typically they’ve gentrified areas near an el stop. Not sure if they’d be averse to Chicago busses.
Still yet everything will sell at one price or another and $100/sf seems like a good deal, even in this neighborhood.
if we’re gonna stereotype about “poor artists,” i’ll just go ahead and take it a notch further:
“poor artists” ride their bikes EVERYWHERE!!!! they don’t care much about the el – even in the winter. they’re CRAZY like that and get special gloves for the cold.
i do not know where they purchase said gloves.
he he.
my hipster artist friend moved to West Pilsen and it’s pretty desolate as far as hipsters go; he used to live closer to the Skylark in east pilsen. The back of the yards seems a little too far south.
Nothing like being able to brag to your friends that your home includes a Family Dollar in the building!
I like that they re-used the developers photo–note the banner with “loft condos from the $140s” and the Bank One sign (now Chase, in the other photo).
Artists will only revive this area if they can afford to live there, and at prices like these, they cannot.
Most full-time artists are lucky if they can make their rent on a $1000 apt they share with 3 other people. Their incomes tend to be very sparadic and unreliable, and they support themselves through day jobs that top at $30K a year, for the most part.
They can’t spring for even $100K condos. Forget about $200K lofts.
Well even if its not artists that buy these places, at $100/sf someone will.
Also spertia not sure if this is a trend or what but one of the loft developments in Bridgeport is right across the street from a Dollar store as well.
Maybe they’re leading indicator of lofts coming to a new neighborhood, similar to how Starbucks popping up were one for gentrification.
I agree with homedelete–Back of the Yards is a unique neighborhood but too far south and west, too far from trains, too far from any fun/trendy neighborhood (closest thing is Hyde Park, which is not that fun). I think you could get a new 2 bed 2 bath in Pilsen for 200k if that’s what you wanted, and Pilsen is much more established for artsy-types, and much more convenient to everywhere you’d want to be in Chicago. I would only pay 100k for something like this in Back of the Yards, and I wouldn’t expect gentrification in an area that is so far south and west.
The artists who could very well afford a space like this (and there are quite a few, contrary to popular belief) have already left the Chicago area for greener pastures. It’s a lovely space though, almost worth dealing with the long waits for the Ashland bus. Almost, but not quite.
I think the lofts are very nice. They are however too expensive for the neighborhood they are in. Back of the yards is a horrible area to live in. The people that can afford to pay 200k for a place don’t live there for obvious reasons. VIOLENCE.
I am an artist- a juggler to be specific. I looked at these lofts 3 years ago and like them a lot but they were a little too much money for me at that time. I did find another building in the neighborhood for less money that needed a lot of work, but suited my purposes. I just had it re-asessed and found that it has raised in value $40,000. Not bad in a down economy. As far as violence, yes, their are gangs here, but it is safer than Pilsen because no one is afraid of the gentrifiers here. I walk my dog, I raise my 8 year old. The neighborhood is fine and it’s an investment I’m glad I made.
Is this the old Meyers Department store? Jupiter? Woolworths? Geez, the building looks so familiar since I grew up in this neighborhood and my mom and I would go shopping on this street often (in the 70’s-80’s).