65% Appreciation in 27 Months in the West Loop: A 2-Bedroom Loft at 400 S. Green
This 2-bedroom duplex loft in the Green Street Lofts at 400 S. Green in the West Loop just came on the market.
It’s a top floor penthouse with 20 foot high timber ceilings.
It also has exposed brick walls and large industrial windows.
The listing says it is a “newly remodeled kitchen” with a double oven, stainless steel appliances and granite counter tops, including on the kitchen island.
The bathrooms have also been remodeled and are now “spa quality.”
There’s a separate laundry room with a sink.
One bedroom is on the main level with the second bedroom and an office are on the second floor.
It looks like there are skylights.
This property also has roof rights but no one has bothered to build a roof deck up there yet.
It has central air and deeded garage parking is available for $35,000 extra.
This unit last sold in 2014. You can see those pictures here if you have a Redfin account.
A little over 2 years later, it’s come back on the market for 65% more (without the parking).
Is the sky the limit for a 2-bedroom loft in this hot neighborhood?
Edward Skae at @Properties has the listing. See the pictures here.
Unit #507: 2 bedrooms, 2 baths, 1500 square feet
- Sold in May 1992 for $150,000 (included the parking)
- Sold in December 2004 for $345,000 (included the parking)
- Sold in January 2007 for $426,000 (included the parking)
- Sold in October 2014 for $363,000 (included the parking)
- Currently listed for $599,000 (parking is $35,000 extra)
- Assessments of $384 a month (includes cable, exterior maintenance, lawn care, scavenger and snow removal)
- Taxes of $6170
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×12 (second floor)
- Bedroom #2: 15×10 (main floor)
- Laundry room: 8×6 (main floor)
- Office: 14×6 (second floor)
If you remodel something and sell it for more money it’s not appreciation.
$635k and you’ll still live above a 7 Eleven! I have to wonder if that one attracts as many transients as the others do.
Just what I always wanted – a stairway (and ladder) to nowhere – or maybe it’s an homage to “Stairway to heaven”.
“Just what I always wanted – a stairway (and ladder) to nowhere – or maybe it’s an homage to “Stairway to heaven”.
The ladder is to access the storage area behind those sliding panels. Although I can’t imagine ever using it.
The stairway is to eventually access the roof as this unit has roof rights. At least someone planned ahead but looks silly as is.
This may be a bit overpriced but I can see it easily selling in the mid 500’s given the current climate.
How much do you think redoing the bathrooms, stairwell stuff and light fixtures cost? 75k or so? That’d put their cost on the unit in the 440 range…3 years later, making 100k isn’t that unrealistic given how this neighborhood has taken off.
Ladder appears to go to an upper closet
I don’t think those ceilings are actually 20 feet… is this the newest number realtards can’t be bothered to fact check or what?
Why not use a removable ladder and keep it hidden somewhere except when using it?
For $422 per square foot (when factoring in the parking), I would not choose to live here.
“The ladder is to access the storage area behind those sliding panels. Although I can’t imagine ever using it.
The stairway is to eventually access the roof as this unit has roof rights. At least someone planned ahead but looks silly as is.”
Just imagine climbing that ladder holding something that you wanted to put in or remove from that “closet”. I’d want an ambulance crew standing by whenever I used it. A typical library ladder that slid along rails would have made a lot more sense especially if it had hand rails.
This loft looks like a nightmare for anyone with kids. Imagine your toddler or even any kid less than 12 years old running around upstairs and falling in between the railings.
“This loft looks like a nightmare for anyone with kids. Imagine your toddler or even any kid less than 12 years old running around upstairs and falling in between the railings.”
Something to think about for recently divorced fathers with children. There seems to be a lot of them in the westloop for some reason.
“I don’t think those ceilings are actually 20 feet… ”
I count 20 steps. Even with the upstairs ones being pretty clearly ‘tall’, I don’t see any way it’s more than 18′, and probably a little shy of 17′.
“redoing the bathrooms … 75k”
Maybe if you were redoing 10 of them.
“Maybe if you were redoing 10 of them.”
Who is your contractor who works that cheaply? Each of the bathrooms have at least $3k of materials (and likely more like $5k)–who do you have that does a quality bathroom redo for under $4k?
Maybe $50k, instead of $75k, for the two of them, but that’s still a good deal, unless the fixture and finishes are much cheaper than they look in the pix.
$25k to redo a BATHROOM? No way.
“$25k to redo a BATHROOM? No way.”
Who is your contractor? Contact info, or it didn’t happen.
What are you guys talking? We are in the midst of a new kitchen, huge deck and small addition on our home job. All in will be about $120K, that includes all Miele appliances, cabinets, quartz counters, lighting, architect, materials and labor. Likely adding a bath rehab because we’re coming in under our initial budget. Probably $10-15K more all in.
Eastern European GC. Not giving name out, sorry. He’s busy already.
Like. It’s things there is a range of pricing
Size of bathroom matters most
Then tiles have a massive delta. Ann Sachs VS tile outlet? .
Lots of cuts or design choices add up quickly
And you could get a $5k toilet with built in bidet.
Changing plumbing reconfiguring layout adds a lot quickly
But no way should a sub 100 sq ft bathroom be $25k.
Should read – “Like most things” there is a range or pricing
Apparently anon likes gold plated toilets like our president 🙂