3-Bedroom Fulton Market Loft Reduces $455,000 to $995,000: 312 N. May
This 3-bedroom loft in the Warehouse Lofts at 312 N. May in the Fulton Market neighborhood of the West Loop just came on the market.
The Warehouse Lofts were built in 1925 and has 42 units. It was part of the Loftminium conversion of loft rental apartments into condos in 2000-2001 in the West and South Loops.
This loft has 14 foot ceilings (which look like they are timber?) and exposed brick.
It appears from the pictures and floor plan that the 3 bedrooms and den have windows.
The master bedroom has a massive walk-in closet measuring 14×12 but is not en suite.
The kitchen has dark cabinets, stainless steel appliances and granite counter tops.
The listing says the loft has a home automation system and a new furnace.
There’s central air and washer/dryer in the unit but no parking.
It’s within just blocks to the hot Fulton Market corridor, including Google and McDonald’s headquarters.
Originally listed for $1.45 million in May 2019, it has been reduced $455,000 to $995,000.
Is this loft now priced to sell?
Erin Mandel at @Properties has the listing. See the pictures here.
Unit #21J: 3 bedrooms, 2.5 baths, 3346 square feet
- Sold in November 2003 for $500,000
- Lis pendens filed in May 2008
- Bank owned in October 2009
- Sold in March 2011 for $241,000
- Sold in June 2012 for $560,000 (this included parking so I’m not sure if that was a spot nearby or what as the building doesn’t have parking)
- Originally listed in May 2019 for $1.45 million
- Reduced several times
- Currently listed for $995,000
- Assessments of $795 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $15,428
- Central Air
- Washer/dryer in the unit
- No parking
- Bedroom #1: 17×15
- Bedroom #2: 16×15
- Bedroom #3: 15×15
- Storage: 8×7
- Utility: 8×7
- Gallery: 21×5
- Walk-in-closet: 14×12
- Living room: 37×17
- Dining room: 15×15
- Kitchen: 20×13
- Den: 17×15
- Laundry room: 11×8
I thought the market for > $1Mm properties in the WL was HAWT ™?
Modulararts wall looks like it was installed poorly and kitchen isn’t on style, freshening up the kitchen would probably help move this.
HOA is high for no amenities
Think they may be chasing this one down for a while
Haaa, get serious. $1.5 million for that was optimistic at best and more like delirious.
Limited windows in the living space.
No downtown views.
No master suite
No parking in building
Set up better for an office layout.
Not likely going to be easy at this price either. Too many better options. Some new some old that are available in the area and going to level out in price. An easy switch of moving the toilet to the current door opening and making the closet a walk thru would be a big improvement. Bedroom 2 could also easily become a master. But then you have to add a shower in the other bath.
Based on the pantry it sure like they had some awesome parties in this space. Hope the memories of the time spent in Fulton Market were amazing. Appears that they purchased in 2012 and spent some $$$ in rehab. Like us they will sell and leave with some decent cash and incredible memories of living in the Fulton Market as it transformed. Those were great memories. Left our loft 5 years ago and this post makes me nostalgic.
“HOA is high for no amenities”
Listing sez that the ass includes parking. So maybe the association rents a surface lot or something?
https://www.redfin.com/IL/Chicago/312-N-May-St-60607/unit-3F/home/12753456
this one sold with 2 outdoor unassigned spots.
Parking is at May & Kinzie, as part of a parking condo. Has both garage and outdoor spaces.
This one appears to have one of the indoor spaces.
https://www.redfin.com/IL/Chicago/312-N-May-St-60607/unit-6DEF/home/113165096
This 5000 sq foot penthouse combined unit with amazing city views (at least at that time), separate in-law/VRBO suite, 1200 sq ft PRIVATE roof deck, and 2 car ATTACHED IN BUILDING GARAGE spaces sold at $1.7 in spring of 2018. The space needed updates to the kitchen and baths but I can see that comp working out fine. Todays post was a joke in comparison when listed at $1.5, $1.2, or even a stretch now at just under $1M.
“Just Steps to West Loop and HOT Randolph Street restaurants!”
Um, I’ll take my imaginary 1M investment to LP/GC and uber to WL or whatever resturant is HOT a year or 2 from now.
“Parking is at May & Kinzie, as part of a parking condo. Has both garage and outdoor spaces.”
So $1MM and you’re renting a parking spot a block away
That’s HAWT
“renting”
No, it’s owned.
But yes, a block away.
wow 8 whole windows in this 3300sqft place facing east and overlooking some hideous industrial building… place must be a dungeon in the winter… yikes
actually my mistake, the windows are on the south side, however even worse there is a building directly south and this unit is on the 2nd floor so there is literally zero light entering this place any time of year
yuck
“No, it’s owned.”
By the HOA or Property Owner?
Read it as the HOA fees covered offsite parking
Can someone please explain the appeal of a place like this with the exposed pipes and beams? I can’t quite grasp how this would feel like “home”. It is SO industrial looking.
Idk I kinda like it. That closet is insane!!! Dedicated space for the kids playroom/study room. It looks like there’s a courtyard right outside the kitchen window so I can watch my kids run around outside while I’m cooking. My husband would finally have space for that Peloton. Huge wine fridge. Everything I need during this quarantine. Is it ever going to end?
“By the HOA or Property Owner?”
Property Owner.
They must mean that the listed ass amount covers the ass for the parking condo, too. Didn’t check to see if same is true of taxes.
REALLY unclear at least in the public listing!
“windows are on the south side”
It does have some great outdoor space, as you can see in pic 24. Assuming those windows actually open.
“wow 8 whole windows in this 3300sqft place facing east and overlooking some hideous industrial building… place must be a dungeon in the winter… yikes”
Yes, agreed. It looks like a WeWork office or something. At first I thought it was across from the smelly Midtown garbage transfer bldg. But it’s a block away, at least. Not a patch or green or a park nearby, but the area is quiet after hours to walk dogs, etc. Kinda cool by the tracks, walk to D’Amatos.
For the price I sort of like this a lot. It’s huge for a price professionals can afford. But who did the layout. Am I seeing this with non of the bathrooms attached and all off the living room. Meaning you always have to walk out in front of everyone going to the bathroom.
That did provide for a large central living area but I feel like the design could have been much better.
I very briefly lived in this building about ten years ago. It’s a cool loft bullring but all of the units are built onto an atrium and the entrance to the unit is from the atrium. Thus all the main living spaces only have windows onto the atrium (and of course you keep the drapes/blinds shut all day so people walking by to go to other units can’t see in). It’s pretty depressing! I was always bummed that my bedroom had gorgeous light (when I wished that were dark) and the living room and kitchen had no light.
I think this would be a good spot for a very successful tech bachelor type who works nearby, goes out a lot, and maybe is into gaming or movies and is ok with a darker living space, or even better, this would be great for a business to buy and convert the bedrooms and closets into other private offices. At least a decade ago, the building used to have a ton of live/work.
“This 5000 sq foot penthouse combined unit … sold at $1.7 in spring of 2018.”
But that’s basically a full gut rehab–there’s almost nothing useful finish/layout there for a $2m+ home. Paying solely for the space–a great space, but everything would have to go–looks like $500k of work to make it a true ~$2m unit.
Think all of the view is still there, for now.