2-Bedroom Secret Garden Townhouse Returns: 1254 S. Federal in the South Loop
This 2-bedroom townhouse in Dearborn Park II at 1254 S. Federal in the South Loop came on the market in August 2021.
Built in 1995, Dearborn Park II has 118 units with attached 1-car and 2-car garages.
Because it’s an older development, it’s surrounded by mature trees and landscaping.
If this townhouse looks familiar, that’s because we chattered about it the last time it was on the market, in 2016, which was also a “hot” housing market.
Back then, the chatterati thought it was over priced by at least $100,000 when it was listed at $595,000.
See our chatter here.
If you recall, it has floor-to-ceiling wrap around windows on three floors and a skylight on the top floor.
There’s an office, or third bedroom, with custom cherry built-ins on the first floor.
The second floor has the kitchen, living room, dining room and powder room.
It has hardwood floors, a wood burning limestone fireplace and a large deck off the dining room.
The kitchen has white cabinets, granite counter tops, a white subway tile backsplash and stainless steel appliances.
The two bedrooms are on the top level with the full bath.
This is one of the townhouses that fronts Federal Street and has its own fenced, private “secret garden” with lush landscaping and a stone patio.
It has central air and an attached 2-car garage.
The townhouse has come on the market 5 years later at $665,000, or $95,000 more than the 2016 sales price of $570,000.
With low inventory, will it get the premium?
Susan Dickman at Berkshire Hathaway Homeservices has the listing. See the pictures here.
Unit F: 2 bedrooms, 1.5 baths, 1630 square feet, townhouse
- Sold in April 1994 for $186,000
- Sold in September 1998 for $285,000
- Sold in September 2016 for $570,000
- Currently listed at $665,000
- Assessments are still $275 a month (they were $275 a month in 2016 )(includes lawn care, scavenger, snow removal)
- Taxes are now $9417 (they were $6929 in 2016)
- Central Air
- Wood burning fireplace
- 2-car garage
- Bedroom #1: 18×13 (third floor)
- Bedroom #2: 19×11 (third floor)
- Office: 10×10 (main level)
- Living room: 16×15 (second floor)
- Dining room: 14×10 (second floor)
- Kitchen: 14×9 (second floor)
- Laundry: 3×3 (second floor)
- Balcony
- First floor patio
The competition, for $100k less:
https://www.redfin.com/IL/Chicago/1302-S-Federal-St-60605/unit-A/home/14084310
I didn’t dive into this listing yet, but I did walk around Dearborn Park recently and was impressed at how nice it was. I was closer to the Dearborn Station part of it, not as far south as this property. But right by the station it’s a lovely area. Hard to believe it’s so close to downtown. Lots of trees and parks. Quiet and great for walking around. I’ll check this one now. I’d be less excited living south of Roosevelt, because the walk downtown starts to get a bit long, especially in winter.
always funny looking back at an old post. 150k over priced, another 100k over priced, and another saying it’ll sell for 400k. All wrong.
“always funny looking back at an old post. 150k over priced, another 100k over priced, and another saying it’ll sell for 400k. All wrong.”
The chatterati is nearly always wrong when it comes to sales price. Lol.
For 14 years they have always said it was “too high” for whatever property it was.
“I’ll check this one now. I’d be less excited living south of Roosevelt, because the walk downtown starts to get a bit long, especially in winter.”
Dan #2: There is a tunnel that goes under Roosevelt that exits right by these townhouses making it a very pleasant walk to the area near Dearborn Station. You walk by the big park behind the station, tree lined streets and other townhouse developments.
“The competition, for $100k less:”
Indeed. But it doesn’t have the private garden.
“doesn’t have the private garden”
Taking a look at the tax map, I think that the fenced in area goes beyond the property line. But that’s just an eyeball test.
If the units at the corner of Clark / Roosevelt are part of this complex I would steer clear – – a friend had one of those units during the financial crisis. In addition to hearing every single thing her neighbor in the unit above hers did / said, she found herself engaged and then married and then moving out of state but unable to sell the unit for anything remotely close to what she paid (like many folks at the time). Her SISTER was living in the unit and the condo association said she had to move out “no renters” they said!!! Forced my friend into a short sale. Condo had been in her name only so she and the new hubby who is gainfully employed, had zero issues buying a new place where they ended up relocating. This condo association is potentially full of morons however……that is if it is the same association (and I think it very well may be).
This is a 2BR
The “Secret Garden” is a joke and not worth $100k. Maybe if there was landscaping and a pergola it could command the increase.
Still think this is grossly overpriced
“If the units at the corner of Clark / Roosevelt are part of this complex I would steer clear”
The Cat: These are all townhouses. Built in 1995. They are actually below Clark street (and Roosevelt) at this location. It’s not associated with a condo building.
I don’t know what building you’re thinking of at Clark and Roosevelt as I thought the building that is with the shopping and movie theaters is all rental now.
There was a unit with a fenced backyard in this development that sold for $550,000 last year. As I recall, it was remodeled and had 2 full bathrooms. I think $665,000 is a bit much especially when overnight guests will have to share your bathroom.
Over priced by $100K
Nicer and larger sold last year for $620k: https://www.zillow.com/homedetails/1208-S-Federal-St-UNIT-C-Chicago-IL-60605/3875887_zpid/
Dearborn Park is a nice, hidden neighborhood. I kind of like it, but I don’t know if I could stand all the kids. There always seems to be a kid bouncing a basketball every time I walk by.
@Lauren – Do they play basketball in this complex? The sound of a basketball bouncing irritates me to no end, but I like all of the trees in Dearborn Park, especially this particular spot.
@Jenny – A lot of houses have basketball hoops.
My brother sold his house because his neighbor’s incessant basketball bouncing and screaming. It was is annoying.
Under contract.
Closed for 630K