South Loop 2-Bedroom Townhouse Reduced $70K in 16 Months: 1352 S. State

We last chattered about this 2-bedroom townhouse at 1352 S. State in the South Loop in July 2009.

1352-s-state-approved.jpg

See our prior chatter and pictures here.

In the nearly 16 months since, the townhouse has been reduced $70,000.

In July 2009 some of you thought this might sell for the mid-$400,000s. It is now listed for $469,000.

With 1860 square feet on 3 levels, the townhouse has both bedrooms on the upper floor.

It also has a family room on the first level while all the other living spaces are on the second floor.

The townhouse has skylights and a 1-car garage with a second space on the parking pad. If you really need 3 spaces, there is a third spot available for another $10,000.

The kitchen has stainless steel appliances.

The listing says the townhouse is in the highly coveted South Loop Elementary school district.

Is this finally priced to sell?

Frederic Scovell at Keller-Williams West Loop still has the listing. See the pictures here.

1352 S. State: 2 bedrooms, 2.5 baths, 1860 square feet, 1 car parking

  • I couldn’t find an original sales price but it looks like there has only been 1 owner since the early 1990s
  • Originally listed in April 2009 for $539,000
  • Was listed in July 2009 at $539,000
  • Reduced
  • Currently listed at $469,000
  • Assessments of $85 a month
  • Taxes of $4342
  • Central Air
  • Third parking spot available for $10k
  • Bedroom #1: 11×14 (third floor)
  • Bedroom #2: 16×10 (third floor)
  • Family room: 11×13 (first floor)

33 Responses to “South Loop 2-Bedroom Townhouse Reduced $70K in 16 Months: 1352 S. State”

  1. The lack of a single post in the past 4.5 hours regarding this place speaks volumes for the south loop and this development. I guess there is nothing more to say….

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  2. “The lack of a single post in the past 4.5 hours regarding this place speaks volumes for the south loop and this development. I guess there is nothing more to say….”

    Think it says more about how many people are out of the office or focused on getting stuff done before being out of the office this week.

    Also, it’s priced to sell in July 2009. Unfortunately for the owners, it will never be July 2009 again.

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  3. “focused on getting stuff done before being out of the office this week.”

    Bingo. Not that I am at other times unfocused, of course.

    As for this property, this is in the Dearborn Park II section of the S Loop. Very different in feel from other parts of the S Loop, quite residential although obviously still close to the rest of the sloop (good or bad). The elementary school is also very viable.

    I looked at a 3bdr unit in this particular complex facing Plymouth with the extra parking spot included, listing at something like $600K at the peak of the bubble. Was nice enough, a little cramped in terms of bedrooms especially master bdr. Too small for us.

    There are SFHs in Dearborn Park II that have to be (I am speculating) by far the closest to loop SFHs that you can get for around $1MM (or under) with a good CPS elem.

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  4. The south loop is the worst part of the downtown area for working in the Loop. You have to cross both Congress and Roosevelt if you are walking – and it’s a pretty long walk to the major employers in the Loop. The Near North or Near West is much better in this regard.

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  5. How is crossing Roosevelt or Congress more of a hassle than crossing Wacker (This applies to both the West Loop & Near North)? Wacker is worse than Congress or Roosevelt, imo.

    Sorry, Tipster, there may be some cons to the South Loop but I don’t agree that having to cross Congress and Roosevelt if you walk is one of them.

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  6. LOL since when is crossing streets difficult? Use crosswalks ya rubes

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  7. “Sorry, Tipster, there may be some cons to the South Loop but I don’t agree that having to cross Congress and Roosevelt if you walk is one of them”

    Yeah – but the s. loop can be very desolate with questionable people skulking around. I know I would never walk around there (even during the day it is really depressing).

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  8. Zapatista is good, but there’s always easy parking, so why not just drive there and live in a more established residential part of the city?

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  9. Congress might as well be an expressway. You take your life in your hands every time you cross. Light timing also heavily favors car traffic over pedestrians. God help you if you are elderly or have trouble walking – you’d be lucky to get halfway across the street before you lose the walk signal. The walk signals along Wacker are at least 3 times as long. I would not be surprised if they were longer.

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  10. “Light timing also heavily favors car traffic over pedestrians. God help you if you are elderly or have trouble walking – you’d be lucky to get halfway across the street before you lose the walk signal.”

    Really? I always take Congress home and I always felt the traffic lights favor the pedestrians. I understand what you are saying about elederly people and people who have trouble walking – they might be better off driving, taking a cab, or staying at home.

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  11. Based on a couple of the comments posted it’s apparent there’s some misperception of the area south of Congress. I live in Printer’s Row but know Dearborn Park 1 and 2 very well. My son went to South Loop Elementary for 5 years. I work at 1 N. Dearborn. The walk is 15 minutes to work. The location is incredibly convenient to all the CTA lines and every expressway. Roosevelt is becoming a major retail corridor. Colleges, primarily Columbia College, are making the area an urban campus. You can walk to the lakefront, Museum Campus, Millenium Park, Art Institute, all the downtown theaters and so much more. You can attend everything going on at Grant Park during the summer. Congress is going to be rebuilt over the next 2-3 years to make it easier and more attractive entrance point into the city. Wabash and Michigan are lined with restaurants and local businesses. Dearborn Park 1 and 2 are very family friendly. You will see a ton of young kids in Cottontail Park and S. Loop Elementary playground. Area is very racially diverse and is primarily professionals. Density is not as high as North Side.

    I could keep going on. Sure there are some cons to living in the Near S. Loop but, depending on what your needs are, this is a terrific area in the downtown area.

    As far as the price of this townhome, it reflects the gut of housing we currently have and it’s competition with newer built properties with, for some, better amenities.

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  12. I cross Congress at Clark from time to time and feel that it is very unfriendly and dangerous for pedestrians. The city agrees as their Congress Parkway Reconstruction project (going on now) lists a number of improvements that will attempt to improve safety.

    I cross North/South Wacker twice a day. Crosswalk timing is quite generous. Excessive in some cases. But with the tens of thousands of people that cross it every day after exiting the train stations, it is not a surprise that the city would be so generous.

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  13. clio, i noticed you say that a lot about south loop, but i often walk home in the summer (walk down michigan to roosevelt, then up roosevelt a block to indiana). the only questionable people i see are from maybe jackson to roosevelt. Indiana & Michigan from Roosevelt to about 16th-ish is pretty nice. I rarely say there are questionable people skulking around.
    there are actually a lot of young professionals, families with young kids/dogs on those streets. no?

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  14. “there are actually a lot of young professionals, families with young kids/dogs on those streets. no?”

    maybe you are right – my experiences are limited to the night time when I have gone to some of the restaurants/bars in the area. More than being overtly dangerous, it just is very desolate and leaves me with an uncomfortable feeling. Also, a few times during the day I have driven around and it just seems very desolate and disconnected with the remainder of the city.

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  15. Seriously? You’re scared to cross a street, a street that has traffic lights telling you when it’s safe to go?

    I crossed Roosevelt a hundred times, never felt uneasy about it and have a hard time imagining how this could be a frightening experience… wtf. Of all the things to bitch about the sloop this is just ridiculous.

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  16. i will agree with you for sure that the nightlife/restaurant/bar scene is severely lacking. a few of my favorite restaurants down there – cuatro & room 21 have closed. i think that for sure that is a reason why it is so quiet/desolate at night…people dont really have anywhere to walk to.
    If you take a drive around there during the daytime, it’s definitely different. i walk the dog several times a day, so i’m certain of that. it is somewhat painful to wonder what the south loop could’ve been had 1.) the market not crashed 2.) chicago got the olympics (controversial topic, i know! let’s not start a debate :)

    anyway, for anyone else who’s interested in the south loop and its prospects, i recommend following this blog: http://www.sloopin.com/

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  17. “Of all the things to bitch about the sloop this is just ridiculous.”

    lol. It’s an instinctive response for a lot ppl on this board when it comes to a sloop listing.

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  18. clio and Tipster.

    not sure what planet you are from but the south loop continues to change as more professionals move in. If you care about green space you would never even consider river north. As far as getting to work goes my wife and I both walk it several times a week. We actually walk through Grant Park or along Michigan Avenue to Van Buren and take it from there. I know that this area was overbuilt and it will take time to work off the inventory but it does the area a disservice when you guys make uninformed snobbish comments.

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  19. Sorry, Stuart – those were just my obsrervations. I would like nothing more than for the S. Loop to become a booming destination location (it would take people away from my end of Michigan Ave)

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  20. “I know that this area was overbuilt and it will take time to work off the inventory but it does the area a disservice when you guys make uninformed snobbish comments.”

    For supporters of s loop, is your view based on current or anticipated state of the neighborhood? I don’t think s loop is overly dangerous, would and have thought about living there, but still feel the area is somewhat desolate. Not a non-starter, but not ideal. (Big caveat that I haven’t been around there for 2 years or so. Also dearborn park ii itself is quite different from rest of s loop.)

    Is this unfair? Or is this somewhat fair but you think it’s going to change (or has already changed)? Or something else?

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  21. This unit seems like a decent choice for a family with one infant/preschooler/gradeschooler who will attend S. Loop elementary. The distance to local daycares/preschools, museums/lake, red/orange lines is great.

    However, I have to agree with everyone above saying that this specific location is not a pedestrian-optimal area. Sure, the distances to all the above amenities are short, but the pathways are not attractive. The area feels very vehicle-centric, most of all due to the highway-like nature of Congress. This is compounded by the proximity of the train tracks to the west and LSD further to the east. Finally, there are very limited ways to access the lake and museum campus as a pedestrian, and this, too, discourages casual walking. The design of that new multiplex on Roosevelt — completely ignoring pedestrians 100 percent — reflects the reality. (I’d love to know if residents of Dearborn II walk to see movies there, or drive.) In the end, walkability and aesthetics matter to most people.

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  22. Although this is technically in the south loop I’ve always seen it as its own enclave – very neighborhoody.

    This unit is still priced too high. There are better values available right now in that general area.

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  23. Bob 2 (Not Bob) on November 22nd, 2010 at 1:25 pm

    “(I’d love to know if residents of Dearborn II walk to see movies there, or drive.) In the end, walkability and aesthetics matter to most people.”

    I don’t like Dearborn Park myself (although I understand why it was build in the first place), but this particular unit is on State, so no maze to navigate to get out of it. I would hope whoever lives here would walk the .5 mile to get to the theater instead of driving…

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  24. I know South Loop Elem has decent test scores and a favorable greatschools rating, but I wonder if that is because it is a regional gifted school? If the gifted scores are included in the overall averages, which I assume is the case, then the scores for the general pop are middling, at best.

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  25. I live in one of the museum park buildings looking out over the lake. there is a decent neighborhood feel from michigan east south of Roosevelt to about 16th street. 2 small parks and access to the lake via Grant Park or the overpass at 16th street. The buildings are pet friendly and in fact have special areas for them that are convenient and well maintained. The worst part of the area is around the El-stop @ Roosevelt and State but having lived north of downtown it sort of reminds me of Clark and Division. There are obviously a lot of buildings that were put up quickly in the 2005 rush but there was also a lot of nice stuff built as part of the central station master plan. FYI as of now i am not an owner (too much existing inventory) at this point but in the next few years I think this area might be at a price point worth considering.

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  26. “I know South Loop Elem has decent test scores and a favorable greatschools rating, but I wonder if that is because it is a regional gifted school?”

    This is the age-old question, and it would be nice if CPS released data that is separated for all schools that have test-in components.

    “If the gifted scores are included in the overall averages, which I assume is the case, then the scores for the general pop are middling, at best.”

    How do you figure this? I think it would be hard to calculate unless you have the numbers for gifted v. neighborhood program students for 3rd through 8th.

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  27. ““If the gifted scores are included in the overall averages, which I assume is the case, then the scores for the general pop are middling, at best.”

    How do you figure this? I think it would be hard to calculate unless you have the numbers for gifted v. neighborhood program students for 3rd through 8th.”

    You can estimate pretty well if you know the headcount of gifted v. regular, if you assume (possibly incorrectly) that the gifted kids score the same as the gifted-only schools overall.

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  28. “You can estimate pretty well if you know the headcount of gifted v. regular, if you assume (possibly incorrectly) that the gifted kids score the same as the gifted-only schools overall.”

    Yes, I agree. If I had the numbers for gifted v. neighborhood enrollment, then I could calculate it with reasonable accuracy. Anyone have those numbers? I know that the lowest grades (like K and 1st) the split is about 25-30 percent gifted v. 70-75 percent neighborhood, but I’m not sure how it looks for 3rd through 8th. The neighborhood enrollment has skyrocketed in recent years.

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  29. The phrase “at best” was actually a bit unfair. Based on gifted-only schools such as Decatur and Skinner North, it is reasonable to assume that the gifted students at SLE would produce a 10/10 with greatschools which is based primarily on test scores. SLE has a 7 overall rating, so the gen pop would be at 4 if it were a 50/50 split between gifted/general. At 25 pct gifted, gen pop is more like a 5 or 6. So, middling. Granted, this argument is based on test scores and no other qualitative factors and assumes that smart stock (i.e., “gifted” kids) has more to do with strong test scores than quality of instruction which I believe is generally true but not always.

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  30. “Based on gifted-only schools such as Decatur and Skinner North, it is reasonable to assume that the gifted students at SLE would produce a 10/10 with greatschools which is based primarily on test scores. SLE has a 7 overall rating, so the gen pop would be at 4 if it were a 50/50 split between gifted/general. At 25 pct gifted, gen pop is more like a 5 or 6. So, middling.”

    No time to read through ratings today, but I recall when I did look that a lot of the issues were with the gifted program itself. There are also a lot of political issues, which may or may not have affected ratings. I think the neighborhood portion of the school will do very well going forward, especially given change in boundaries.

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  31. Wow. Why did my previous posting get deleted?

    I think I can sum up my earlier posting by saying that most people who actually live in the Near South Loop area are generally happy with it and the benefits it offers.

    As for SLE, I have personal experience as my son attended for 5 years and can say their biggest problem is overcrowding as the building is too small for all the kids who want to attend there. In fact, there have been suggestions to eliminate the gifted program as its purpose and benefits aren’t relevant anymore.

    Personally, I’m a little disturbed at reading these posts that are knocking the South Loop based on speculation and/or at best a few visits or drive throughs. If anyone visited Dearborn Park 2 and its Cottontail Park during the summer, you would think you were on the north side but with more diversity. I should know – I’ve actually lived in both areas for a number of years.

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  32. My best friend lives in Dearborn II with her two kids. The family owns one car, so she walks them everywhere–Target, Whole Foods, The Movie theater, Music Classes at Sherwood–no problem. Her girls don’t attend SL Elementary, for what it is worth. They attend Old Saint Mary’s–The Archdiocese of Chicago is building a brand new school at 15th and Michigan.

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  33. My wife and I have lived in the S Loop for 6 years now (Dearborn Tower) and we absolutely love it. Dearborn Park II would be a great palce for a young family. We have a 10 month old daughter and are intent on staying here.
    I assume Clio drove though the area on Mich, State or other major street. The families and young professionals are not to be found on these main streets, they are walking through the parks and on the smaller streets (Indiana, Plymouth, etc).
    I have yet to feel unsafe and my family or friends have yet experience any crime. Yes, it is overbuilt and overpriced right now, but it is a wonderful place to live. Great green space. OK restaurant selection, but growing, easy access to CTA, 55 and 90/94.

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