3-Bedroom Loft Triplex Reduces $155,000 in Past 11 Months to $295K: 1601 W. School in Lakeview
We’ve chattered about this 3-bedroom loft triplex at 1601 W. School in Lakeview several times over the past 11 months.
See our October 2011 chatter here.
First listed in March 2011 for $450,000, it has been slowly reduced $155,000 to just $295,000.
In our first chatter, some of you thought it might sell for around $350,000 but back in October, none of you even tried to guess.
Several of you commented on the awkward layout with all the bedrooms open to the living space (which means it can’t be occupied by roommates.)
If you recall, this building was a former Wieboldt’s department store so the loft has authentic features including exposed brick, big windows and tall ceilings.
This is a top floor unit. It has a spiral staircase leading to the second and third levels.
All 3 bedrooms are on separate floors.
The listing no longer says the buyer can entertain his/her friends in this unit. But it still does have a private rooftop deck with north views and an outdoor grill.
There still aren’t any good pictures of the kitchen, but it looks like there are stainless steel appliances.
The loft also has a rare feature of TWO washer/dryers in the unit.
Would this make a good bachelor pad?
And how low will the price ultimately go? All the way back to 1996?
Laura Veeneman at Rerthoffer Realty still has the listing. See the pictures here.
Unit #701: 3 bedrooms, 3 baths, 1800 square feet
- Sold in January 1996 for $219,000
- Was listed in March 2011 for $450,000 plus $25,000 for parking
- Reduced
- Was listed in October 2011 at $350,000 plus $25,000 for parking
- Reduced
- Currently listed at $295,000 (I can’t tell if parking is still extra or if it is now included)
- Assessments of $428 a month
- Taxes of $5086
- Central Air
- 2 washer/dryers in the unit
- Private 16×24 rooftop deck
- Bedroom #1: 12×15 (second floor)
- Bedroom #2: 12×15 (main floor)
- Bedroom #3: 17×12 (third floor)
Perfect for a small family of trapeze artists or someone who has a large collection of sugargliders.
It looks like this price is inline with or below standard for big lofts in the area – but from the comment it might have such an awful layout as to render it unsaleable. One can only assume the seller will see more than the 219k he/she paid, but inflation puts it at almost exactly current price.
It looks like parking is NOT included and there might be a special assessment. The penthouse bedroom sounds cool.
I’m sure the layout challenges with the bedrooms on 3 separate floors and spiral staircases have been amply discussed in the past.
However, I used to live about one block west of here on School and loved the location, though my wife hated the congestion. Close to el and lots of shopping, restaurants, and even my dentist.
You could totally put a climbing wall in this place.
Why would a bachelor want two washers and dryers? Seems like a waste of closet space.
This Wieboldt’s was empty for about 8-9 years, before it finally developed. Store closed in 1987 and then Loft project started in ’95. Still remember this shopping area as a ghost town.
Seems like a pretty nice place in a desirable location for the money at this price.
The building has had a special assessment for a while. They were redoing the whole exterior.
Bachelor pad? Three living levels plus two laundries? Why not a non-conformist-type couple-with-kids who want a housing situation that doesn’t follow the suburban-ranch-with-picket-fence template?
Does anyone have any idea how to contact this listing agent? I cant seem to find a number or website anywhere. Thanks!
” I cant seem to find a number or website anywhere.”
per tehgoogle:
Reithoffer Realty Inc.
5701 N. Sheridan Rd. 18-A
Chicago, IL 60660
phone: (312) 399-3662
Thank you! I find the address but no number. I need to brush up on my googling.
I live in the building and have for past 10 years. It’s a great loft and despite a large assessment to fix facade issue it is very well constructed
Great location !