15% Price Reduction on Loop Duplex Penthouse
6 E Monroe, the Mentor Building, in the Loop was an office to residential conversion that sold in 2002. There are only 36 units in the building. Many of the units are smaller one bedroom units that originally sold for around $130,000 to $150,000. There are washer/dryers in the units but no parking.
The South facing windows all look into the Palmer House Hotel across the street.
The top floor penthouse duplex recently came on the market and, according to this Craigslist ad, has now been reduced about 15%.
Unit #1601: 3 bedrooms, 2.5 baths, 2600 square feet duplex
- Sold in June 2003 for $659,000
- Sold in March 2005 for $675,000
- Originally listed for $974,000
- Price reduced $145,000 to $829,900 plus $40,000 for parking (the listing says it is deeded- is this parking at 8 W. Monroe, the Metropolis building?)
- Listing says it was gut rehabbed in the last two years with viking, subzero, miele etc.
- Skylights
- Assessments of $1,015 a month
- Len Nevin at Koenig & Strey has the listing
This also appeared in ChicagoMag.com Deal Estate section on 11/15/07. http://www.chicagomag.com/Radar/Deal-Estate/November-2007/On-the-MarketaAtop-the-Loop/
G: Thanks for the tip. I didn’t see it in the Chicago Mag. It has more of the owners story there.
Wow! $320 per sf for 3br in a decent building and a decent location. That’s less than 1/3 the asking price of the soon to be Deutsche Bank Apartment Complex down the street!
I guess it’s also twice the price from 7 years ago but hey, beggars can’t be choosers. That one might actually sell.
John
At $1015 a month for assessments, does someone come up and play the piano for you?