Crib Chatter

This 3-bedroom loft in Park 1500 Lofts at 1500 W. Monroe in the West Loop came on the market in May 2025 and went under contract in one day.

I’m not sure when the Park 1500 Lofts was built, but it was converted into 175 loft condos in 2002.

It has an attached garage and door staff.

This building is an authentic loft building with exposed brick walls, exposed duct work, and timber ceilings with industrial windows.

There are no pictures with this duplex unit but there’s this description:

Property is condemned and deemed uninhabitable for the foreseeable future. Extensive water damage from frozen pipe bursts that has caused significant interior damage. The building also has severe structural damage, including a compromised foundation and structure. Entry and access to the entire stack of condominium units is restricted by city of chicago department of buildings. A special assessment is currently active on the HOA dues, and another special assessment is potentially imminent. Property is being sold as-is, with no warranties, repairs, or occupancy permitted. Not suitable for rehab without interior reconstruction or demolition. GC and sub-contractors must be licensed, insured and approved by the association. Buyer to assume all responsibility for inspections, code compliance, and HOA obligations. May require Union contractors.

There’s a one bedroom also currently on the market in the building but that listing says nothing about what is going on with the building.

See that listing here.

This unit last sold in 2018 for $632,500. It came on the market this week at $399,000.

Are you willing to buy in a building with a special assessment and no occupancy?

Jack Michalkiewicz at Redfin has the listing. See the listing here (sorry, no pictures or floor plan.)

Unit #727: 3 bedrooms, 2.5 baths, 2200 square feet, duplex, loft

• Sold in March 2005 for $445,000
• Sold in June 2018 for $632,500
• Had been listed in 2024
• Listed in May 2025 “as-is” for $399,000 
• Under contract in one day
• Assessments of $991 a month (includes door staff, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $14,773
• Central Air
• Washer/dryer in the unit
• One garage space appears to be included
• Bedroom #1: 18×13 (second floor)
• Bedroom #2: 12×12 (second floor)
• Bedroom #3: 14×12 (second floor)
• Living/dining room: 32×17 (main floor)
• Kitchen: 13×10 (main floor)
• Foyer: 15×8 (main floor)
• Laundry: 10×7 (main floor)
• Loft space: 3×2 (third floor)
• Balcony: 10×4