7 Months Later, Unfinished River North Loft Sells: 152 W. Huron
We last chattered about this 4000 square feet of raw loft space at 152 W. Huron in River North in November 2010.
See our prior chatter here.
At that time, it was listed $171,000 under the 2003 purchase price.
Many of you thought it was a great deal since you got to design the space with your own vision.
One realtor posted that the seller turned down a $450,000 all cash offer.
It recently sold for $640,000– also apparently all cash.
You’ll recall that the loft was 45 feet across and had south, north and eastern views. There was also an elevator that opens directly into the unit.
There was a south facing balcony and a common roofdeck. It also included one garage parking space.
Sam Shaffer at Chicago Properties Inc. had the listing.
Unit #4: 4000 square feet of raw space, 1 garage parking space
- Sold in July 2003 for $870,000
- Originally listed in July 2010
- Was listed in November 2010 for $699,000
- Sold in May 2011 for $640,000
- Assessments of $1566 a month (includes heat and gas)
- Taxes of $15,433
- Central Air
Someone’s going to have a nice place for under a million bucks once this is built out. (unless they go buckwild)
The assessments are steep but at least they include heat/air (worth about $500/mo for a space like this). One parking space kind of sucks for the size of this unit though.
You’re out ~3k/mo in taxes and assessment.
Just food for thought, if you got 100% financing at 5.25% on this place, assuming you spend another 200k making it livable, you would need to rent this place out for ~$7,500 just to break even. I think you can get something this size, this location, pretty nice for $5,500-$6,000/mo. If you’re putting in a shark tank, all bets are off, go for it.
Bradford- I don’t think air (electricity) is included. Its central air but probably per unit. Gas/Heat is NOT $500/mo. Also, unless this guy has the windows open blasting the air in July, air shouldn’t be that much. Maybe $400/mo in peak months. Gas/Heat is worth $150/mo I think.
Yeah I read that wrong, my bad. Those assessments are ugly either way.
Realistically I don’t see anyone in their right mind trying to buy this place as an investment property though.
Agreed. Shark tank. Sharks with lasers. Money no object.
“Realistically I don’t see anyone in their right mind trying to buy this place as an investment property though.”
why would anyone do that?
this is perfect candidate for a bespoke bachelor pad.
“5 years with no mortgage payment”
http://money.cnn.com/2011/06/09/real_estate/foreclosure_squatter/index.htm?iid=HP_LN
“Gas/Heat is NOT $500/mo. Also, unless this guy has the windows open blasting the air in July, air shouldn’t be that much. Maybe $400/mo in peak months. Gas/Heat is worth $150/mo I think.”
you do know that this is 4000sqft on ONE FLOOR?
also the ass fee will be high when you need to spread building costs over only 5 units.
WOW – even I am surprised that someone spent this much on raw, unfinished space in this location. I had my eye on this one and thought 475-500k would be the final price.
As per the build out – Bradford you obviously dont know wtf you are talking about. Even if you went low end finishes, you are talking at least 400-500k (with all the city inspections, codes, and high premium you need to pay to contractors for the city work). A reasonable budget would be 1million.
As per heating and electricity costs, coogan, you obviously also don’t know wtf you are talking about. Electric will absolutely be over 500 and so will gas.
Seriously, if you guys don’t know what you are talking about, just shut the f up.
“Groove77 on June 9th, 2011 at 8:44 am
“Realistically I don’t see anyone in their right mind trying to buy this place as an investment property though.”
why would anyone do that?”
I was responding to Coogan’s break-even analysis for renting the place out.
I thought about buying this place myself but the thought of my upstairs or downstairs neighbors having wild parties and having no one to complain to other than the cops brought me back to reality.
“clio on June 9th, 2011 at 8:50 am
As per the build out – Bradford you obviously dont know wtf you are talking about. Even if you went low end finishes, you are talking at least 400-500k (with all the city inspections, codes, and high premium you need to pay to contractors for the city work). A reasonable budget would be 1million.”
Yeah, I obviously don’t know WTF I’m talking about.
I built out my own 4000 square foot loft 5 years ago for $150k. Everything new – floors, walls, bathrooms, kitchen, etc. Subzero, Wolf, Grohe, etc.
Here’s a thought Clio – perhaps GCs see you coming a mile away, in your Lambo, cowering as you drive up Western Ave.
You’re a mark.
I would have been absolutely in love with this space if it was the top floor (although the top floor is already finished and damn cool)
I would have too much fun designing this place. Oh if I only was uber wealthy
“clio on June 9th, 2011 at 8:50 am
As per heating and electricity costs, coogan, you obviously also don’t know wtf you are talking about. Electric will absolutely be over 500 and so will gas.”
Derp – talking out of your a$$ again, n00b.
I’ve got 4000 square feet of similar space (exposed brick, large windows, etc) and I just pulled up my online bill payment history to derive an accurate average.
$200/month for electricity
$100/month for gas
I have three zoned HVAC units, set on independent programs. I would think anyone purchasing this unit would be smart enough to do the same.
“I was responding to Coogan’s break-even analysis for renting the place out.”
oops missed that.
“Here’s a thought Clio – perhaps GCs see you coming a mile away, in your Lambo, cowering as you drive up Western Ave.
You’re a mark.”
i think the consensus has always been he is a mark. the work done on his place(s) cover the contractors cost for working on his own home 🙂
the funny thing is his nose is so up in the air he will never know how far above base/standard he pays for things.
OK – does anyone believe Bradford? Of course not – stop exaggerating – you confuse people who are not in this business. There is no way in hell you took a 4000 sq foot loft of unfinished space and did a high end renovation for 150k. – also, I have my own GC – and I can tell you that doing several renovations in the past 16 years, this one would cost me at least 300k and more like 400k
“the funny thing is his nose is so up in the air he will never know how far above base/standard he pays for things”
uhh – not really. I absolutely understand and know how much everything costs. Sure, I know that people charge me extra when they see my house, but that doesn’t mean I dont know how much their true costs and charges to other people. I have eyes, ears and a brain…. (unlike so many on this site).
well cliotroll, nice retraction from “A reasonable budget would be 1million” to “this one would cost me at least 300k and more like 400k”
bradford originally said
“Someone’s going to have a nice place for under a million bucks once this is built out. (unless they go buckwild) ”
so 640k+350k is under a million is it not?
you obviously don’t know wtf you’re talking about so take your own advice
“you are talking at least 400-500k (with all the city inspections, codes, and high premium you need to pay to contractors for the city work). A reasonable budget would be 1million. ”
“this one would cost me at least 300k and more like 400k”
Well which one is it?
Bradford – you are so full of it – it is unbelievable!!!
First off – your electric and gas bills are NOT under 200/month for a 4000 sq foot LOFT.
Second of all, you want us to believe that you spent 150k for a build out on your 4000 sq ft lost which included 3 zone HVAC units, Subzero, Wolf, Grohe, etc… – come on – nobody is buying it.
“clio on June 9th, 2011 at 9:08 am
OK – does anyone believe Bradford? Of course not – stop exaggerating – you confuse people who are not in this business. There is no way in hell you took a 4000 sq foot loft of unfinished space and did a high end renovation for 150k. – also, I have my own GC – and I can tell you that doing several renovations in the past 16 years, this one would cost me at least 300k and more like 400k”
My space was not unfinished. It was finished, but not to my liking. I gutted it to the concrete pillars and did a (mostly) new floorplan. Pulled new electrical, 100% new bathrooms, 100% new kitchen, 100% new mechanical. $150M out the door. 100%, absolutely true.
My estimate for getting this place done for $1M allows spending TWICE as much per SF as I did.
steven,
i have my own renovation business and have my own crew. For me, I could do a low-end basic build out on this place for 300-400k. But most people don’t have that access and have to hire a GC – for them the build out will be at LEAST 500k (and likely more).
“clio on June 9th, 2011 at 9:17 am
Bradford – you are so full of it – it is unbelievable!!!
First off – your electric and gas bills are NOT under 200/month for a 4000 sq foot LOFT.”
I literally just logged into Chase, added up the 24 payments (I have two combined units) to each of People’s Gas and ComEd, and divided it out for an average. And that’s how much it came out to. I was surprised as well (Hence my $500 estimate in my first post in this thread).
“uhh – not really. I absolutely understand and know how much everything costs. Sure, I know that people charge me extra when they see my house, but that doesn’t mean I dont know how much their true costs and charges to other people.”
sorry clio, but you really dont know the “true” cost your getting. sure the contractor will present the receipts of the big ticket items but you not seeing how much margin he is getting you on for a small coupling or how much kickback he is getting from his cousin for the electrical he is upgrading because he told you “its not up to code”.
you do know its not your house that the contractor sees the puts dollar signs in his eyes, its the person signing the checks and making decisions that gives him goose pimples when he meets you.
sonies, shut the f up – and instead of posting on here, do some research into renovation costs in elevator buildings in chicago. Seriously, if you don’t know what you are talking about, don’t say anything.
We are not talking about a weekend or after-work type of project here. This is a major job and consultants, architects, etc. are needed. You need a project manager, permits, etc. – I don’t think anyone (with the exception of westloop) would have any idea about the scope and cost of this type of project. Again, this is not a weekend makeover, morons.
looks like clio isn’t as smart as he thinks he is
shocker
“steven,
i have my own renovation business and have my own crew”
wow from your comments and knowledge on certain subjects sure certainly show otherwise
“you do know its not your house that the contractor sees the puts dollar signs in his eyes, its the person signing the checks and making decisions that gives him goose pimples when he meets you.”
I go through a mediator for any big project – and my mediator is a street-wise, non-classically educated contractor. I realize I don’t communicated well with people in this trade and so I have been using him for my project manager for all my projects – I truly don’t have much face to face interaction with any worker (though I observe everything and have my pulse on every project at all times).
Wait a minute – reading over all of these posts – do you guys realize how stupid and ridiculous you sound? It is like listening to teenagers complain about how their parents don’t understand anything about life, etc. … I can’t force you guys to believe me just because I say so – but do your own research and figure these things out.
Unrelated:
Skeptic: hope all you know are alright.
“clio on June 9th, 2011 at 9:17 am
Second of all, you want us to believe that you spent 150k for a build out on your 4000 sq ft lost which included 3 zone HVAC units, Subzero, Wolf, Grohe, etc… – come on – nobody is buying it.”
*shrug*
I got my SZ 650 glass door fridge, Wolf 48″ dual fuel range, and SZ wine fridge as floor models from a place in Winnetka for $13k out the door. That’s about half price. I’m sure the thought of using a floor model is apalling to your Hinsdale sensibilities though…
reading this thread is a good way to ruin your morning
“I go through a mediator for any big project. I realize I don’t communicated well with people in this trade and so I have been using him for my project manager for all my project”
this is by far the most intelligent thin you have posted on this site. By far this statement if true has singly restored my faith in you and makes up for the reading comprehension issues that perplex me seeing a man with education be so far off.
just by that tid-bit of wisdom you brought yourself shows me it is possible that all you achieved is possible with your shortcomings
“have my pulse on every project at all times”
Jack of all trades but ace of what now?
niiice, I have sourced some great stuff on craigslist from renos of Clio’s friends places…
” got my SZ 650 glass door fridge, Wolf 48? dual fuel range, and SZ wine fridge as floor models from a place in Winnetka for $13k out the door. That’s about half price. I’m sure the thought of using a floor model is apalling to your Hinsdale sensibilities though…”
“i have my own renovation business and have my own crew.”
Wait. What?
Clio-
I have 2000 sqft, one floor, high ceilings, brick walls, same area. My electricity has never been $200/mo, even in peak months, and we leave the AC on non-stop June-August. My electricity is under $100 in all but 4 months of the year. Bradford’s data is consistent with mine.
My point (and ironically your thoughts on pricing and building out costs support) is that considering
Option #1) Buy @ 600k, build-out for 200k-400k, pay 15k taxes, pay 1.5k assessment, pay non covered utils (electricity & air)
Option #2) Rent a similar place, pay utilities
Option #1 is a MASSIVE ripoff and a terrible decision, to the tune of 2k/month plus. If you need to build out the interior to have a shot at an MTV Cribs feature, obviously, financial considerations go out the window. Otherwise, in that price point, 5k/mo+ there are comparable rentals available.
how many 4000 sqft lofts in this neighborhood are for rent for less than 6k a month?
“how many 4000 sqft lofts in this neighborhood are for rent?”
Fixed that for you, Sonies.
there are dozens for sale in no danger of selling so you could approach those sellers, some would be ‘for rent’
seriously just stop saying his name three times.
ignore the baiting – the insults to your manhood – the mine is bigger than yours
it was getting good for a while…and now this.
—
so back to the property, although I am not the biggest fan of RN, I do like the space you can get (especially on some of the roof decks here)
“there are dozens for sale in no danger of selling so you could approach those sellers, some would be ‘for rent’”
I know that it’s nothing close to universal to list SF, but using a 3000 sf threshold, I find 4 lofts for sale in the area, with one of them u/c. I must be doing something wrong.
“i have my own renovation business and have my own crew.”
Wait. What?
…and soon will end every sentence with… “yeah!! that’s the ticket”
My wife wanted to pick up a place in this bldg. Ze had 2 major problems. 1- the Catholic charities bldg on the other side of La Salle is a serious homeless problem.
2- The whole view from this bldg is subject to someone not building on the corner of LaSalle across the street. I never like those bets.
Great space, and building out a loft does not cost the same as building out an apartment. Not even close (depending of course on how insane you go in the kitchen as a % of each project).
how many people throwing down 5k+ a month on renting a huge place in this hood want to be on a month to month lease with someone who is trying to sell their place?
Sonies, they are rare but they do exist.
I am beginning to realize that the regulars here just want to live in their own “fool’s paradise” ( – I don’t spend much money on gas/electric; I can feed a family of 4 on 600/month) – these are ridiculous statements and are untrue) – but whatever, live in your fantasy worlds where everything is cheap and nice and little fairies run around blowing fairy dust on everything…..
“the regulars here just want to live in their own “fool’s paradise” ( – I don’t spend much money on gas/electric; I can feed a family of 4 on 600/month)”
~$160/month for electric, ~$125/month for gas. Brick SFH, with people home all day.
I would prefer to not talk about the food/dining budget.
“~$160/month for electric, ~$125/month for gas. Brick SFH, with people home all day.”
Man, maybe its just my location (east coast), but I would kill for those kind of bills.
Mine:
3500 sq ft SFH
Electric = 300 per month in winter, 500 in summer
Oil = 800 per month in winter (Nov-Feb), and maybe one fill-up over summer
Chicago just has much cheaper generation than either of the coasts. Lots of coal.
“Man, maybe its just my location (east coast), but I would kill for those kind of bills.”
Should mention–radiator heat, with two newer, zoned, gas boilers, two newer ac units. So-so insulation (roof and some walls, leaky around most windows, but newer windows). 68-69 in the summer, 70-72 in the winter, mostly.
“clio on June 9th, 2011 at 11:43 am
I am beginning to realize that the regulars here just want to live in their own “fool’s paradise” ( – I don’t spend much money on gas/electric; I can feed a family of 4 on 600/month) – these are ridiculous statements and are untrue) – but whatever, live in your fantasy worlds where everything is cheap and nice and little fairies run around blowing fairy dust on everything…..”
*facepalm*
Brand new 21 Seer two-zoned Heat pump/AC
House built in 1998.
67 in winter
75 in summer
Bradford, care to share your contractor or subs? I think everyone is looking for someone good who doesn’t bend you over.
Dude I feed my family of four on way less than $600 a month. Way less.
“AC on June 9th, 2011 at 12:11 pm
Bradford, care to share your contractor or subs? I think everyone is looking for someone good who doesn’t bend you over.”
If I had it to do all over again, I would use someone else. Put it that way.
It took over twice as long as promised and required more of my oversight than I would have liked.
“Jennifer on June 9th, 2011 at 12:12 pm
Dude I feed my family of four on way less than $600 a month. Way less.”
Oof. That approaches my wine expenditure alone and it’s just me and my wife.
“Dude I feed my family of four on way less than $600 a month. Way less.”
Double oof. Family of 4 here too. I am about 1000 per month groceries, 350 per month restaurants.
“Dude I feed my family of four on way less than $600 a month. Way less.”
whaaaaaaaaaa? does this include dining out? or is that purely grocery store bills?
“It took over twice as long as promised and required more of my oversight than I would have liked”
Bradford, thats pretty much standard across the board. you may find i little better with someone else but big projects you will find that what you dealt with is standard.
Isn’t that always how it goes. I have a great plumber and a great tile guy, both that I really trust. Beyond them, there is no one else I would pick up the phone and call and expect to be happy with the price or results.
I’ve found that price isn’t an indicator of quality at all. So far every time I’ve hired the highest bidder has been a disaster!
“Groove77 on June 9th, 2011 at 12:23 pm
“It took over twice as long as promised and required more of my oversight than I would have liked”
Bradford, thats pretty much standard across the board. you may find i little better with someone else but big projects you will find that what you dealt with is standard.”
The next time I do it my contract will look like a copy of War and Peace.
I can feed a family of three for less than $500 a month – and that’s eating lots of chicken, beans and pork too; bringing lunch to work instead of eating out and limiting eating out. Of course an anniversary meal of french cuisine destroys a month of budgeting.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aKEjgilETYwE
“Spending on Takeout
Households that earned more than $70,000 in 2009, about 32 percent of the U.S. population, accounted for 55 percent of spending on takeout and food away from home, according to the most recent data available from the Bureau of Labor Statistics.
Consumers making less than $40,000 — or “aspirational diners” — cut back on eating out about five years ago and have yet to rebound much, Knapp said. This “erosion of frequency” among lower-income households forced executives at quick-service and casual-dining restaurants to figure out how to broaden their appeal as the market began to weaken in 2008, he said. Now, many of their plans are becoming reality. “
Ah no we don’t drink, maybe a bottle or two of Heineken if we’re feeling fancy.
As a rule we only eat out once a week, and with two little kids it’s nowhere fancy. If it’s more than $40 with tip my husband feels done over!
Groceries – I try to keep it under $75 a week. I cook every night and everyone eats a bagged lunch. And those are Dominicks and Sunset Foods prices.
Jennifer actually only spends $4.73 on approximately $900 worth of groceries each trip. Catch her on Extreme Couponing on TLC next Thursday at 10/9c.
JUST KIDDING 🙂
Alcohol and high end meats/cheeses/specialty foods are what can destroy a budget. Whole chickens are less than $2.00 a lb and ground beef is usually only in the $3’s. But a choice bone-in ribsteak from Whole Foods is going to set you back $16.00 a pound and that tasty salmon is going to be pricey too. I prefer whiting filets lately.
If I budget correctly I can eat for nearly a full week for what it costs for a 1/5th of standard whiskey (makers glenlivit etc).
OF course you try to save and be a cheap ass today so that when I turn 65 I won’t spend the last 20 years of my life eating catfood, and hopefully pay for a child’s college education or two.
Dont forget that research shows tat 56% of american workers have than $25,000 saved and less than 60% of current retirees have more than $50,000. cat food dinners and trailer homes are the bleak future for half the country today.
$7.99 Costco Choice NY Strip Steaks are a reasonable compromise for me.
“The next time I do it my contract will look like a copy of War and Peace.”
Braford you best bet would be to find a few guys like AC found as the will give it to you straight. but even then the still will run over either 1)time or 2)cost.
if you go in knowing it will run longer than stated then the anger level will go down a few colors.
“Groove77 on June 9th, 2011 at 12:48 pm
Braford you best bet would be to find a few guys like AC found as the will give it to you straight. but even then the still will run over either 1)time or 2)cost.
if you go in knowing it will run longer than stated then the anger level will go down a few colors.”
I’d simply build penalties (discounts) into the contract for late delivery.
“As a rule we only eat out once a week, and with two little kids it’s nowhere fancy. If it’s more than $40 with tip my husband feels done over!
Groceries – I try to keep it under $75 a week. I cook every night and everyone eats a bagged lunch. And those are Dominicks and Sunset Foods prices.”
I mean yeah we could *live on less than $600 a month but why should we deprive ourselves?
Wife cooks 4 days a week breakfast and dinner, i cook on sundays. I bag lunch only the first week of the month. friday and saturday is free for all and we eat out. and on date night my wife’s bar tab will blow past $40!!!
shoot if we do fast food i can do $40 for the three of us at cornerbakery.
“I’d simply build penalties (discounts) into the contract for late delivery.”
i could see that, you may limit your pool of takers but cant see why i would be bad. they would probably cut corners anyway so why not have the corners cut and it be on time!
“I’d simply build penalties (discounts) into the contract for late delivery.”
Realize that *everything* will constitute a change order requiring additional time and $$ (want a different paint color? Extra!). Or you’ll get premium billed up front.
We *could* eat for much more too but we choose not to. Maybe when we’re out of debt and the kids’ college funds are fully funded. In the meantime the decent homemade food we eat today does us just fine. We’re not eating Aldi markdowns you know!
I hate that Extreme Couponing show. Who is going to eat 600 boxes of cereal before it expires?!
some people out there really love them some Fruit Loops
Jennifer, pull you head out of your ass (or get it out of the clouds). If you meticulously record each purchase of food/drink per month, it is absolutely going to be over 600. Maybe you are estimating or guessing? Maybe your husband picks up a few things on the way home from work? Maybe you use cash when you pick up a couple of things? Whatever the reason, if you very strictly record each and every purchase you make (as I do), you will realize you spend more than you think. oh – and when I said “food” , I meant everything you buy at the grocery store (ie, condiments, diapers, etc.)
“Who is going to eat 600 boxes of cereal before it expires?!”
If it’s cheap enough, Bob and HD. Duh!
“I meant everything you buy at the grocery store (ie, condiments, diapers, etc.)”
If you buy diapers at the grocery store, you are more concerned about convenience than price. Many cheaper options for that.
“If you buy diapers at the grocery store, you are more concerned about convenience than price. Many cheaper options for that.”
Diapers.com for one. The prices aren’t necessarily cheaper, but between Diapers.com and Soap.com, there’s really no need to ever purchase diapers, paper towels, detergent, etc. in a store. They have free delivery and no tax…to have all that stuff delivered and without the taxes must surely make it effectively cheaper than any store.
Amazon Prime FTW.
Technically the State of Illinois would like you to self-report your online purchases and pay sales tax on them upon filing
Also, Amazon Mom with Prime. That is all.
“Amazon Prime FTW.”
Yeppers. Especially with subscribe and save.
“Diapers.com for one. The prices aren’t necessarily cheaper, but between Diapers.com and Soap.com, there’s really no need to ever purchase diapers, paper towels, detergent, etc. in a store”
The ghetto babies r us of by me always was about $3 cheaper than diapers.com same with formula too.
but the cool thing is they price match online deals for the non diaper stuff.
Cloth diapers FTW actually. But Amazon Mom was the winner when those Parenting coupons were around. Diapers.com is a few cents cheaper right now.
My husband doesn’t even know where the store is I don’t think. And I don’t use cash because I record everything in Quicken.
And groceries for me means everything I buy at the grocery store. Cat food, cleaning products, shampoo. All of it. Why don’t you pull your head out of the clouds and realize that there are people who live just fine without spending the kind of cash you do?!
“Jennifer on June 9th, 2011 at 1:34 pm
Why don’t you pull your head out of the clouds and realize that there are people who live just fine without spending the kind of cash you do?!”
You are speaking solely to Clio, FYI.
“We *could* eat for much more too but we choose not to. Maybe when we’re out of debt and the kids’ college funds are fully funded. In the meantime the decent homemade food we eat today does us just fine.”
jen, you are penny pinching too tight. enjoy life, food and the arts are not areas where one should be cheap and deprive themselves just to save a few dollars.
you save on cars, houses, electricity, gas, maybe clothes, the meaningless stuff you know. but dont cheap out on the stuff that makes this world great, explore and enjoy.
Coogan99 has 200K for build out, which would be super cheap looking. The 150K quote is even more ridiculous…yes, the guy got appliances half off…but that’s not an everyday deal. Someone who buys this place does not have the time to shop for these deals…time is money. To do this place justice, it needs high end cabinets (Poliform Varenna, Archlinea…other mart options) as well as high end appliances. The appliances will cost 30K and cabinets on a decent sized kitchen will cost the same. (The average 10x 10 kitchen will look ridiculously cheap and small this much space…needs to be at least 17 foot long.) This is before floors, electric blinds, doors, hardware, baths… Doing this unit cheap like a typical builder would be a huge mistake. Its already priced at not a good rental, and no one is going to buy 4000 sq foot with these taxes and assessments with builder grade finishes….people who pay to live in these type buildings want luxury, modern finishes.
#
Coogan99 on June 9th, 2011 at 8:33 am
I really like the feel of this raw space. I wouldn’t change a thing. Maybe use a 5 gallon bucket for a chair. 2 sawhorses and a piece of plywood for a dining room table. My only real issue is what to do with the bathroom? Do I get a porta-john or just install a toilet w/no walls?
“My only real issue is what to do with the bathroom? Do I get a porta-john or just install a toilet w/no walls?”
Toilet, for sure. And use the refrigerator box (gotta have cold beer) for “walls”.
thanks “a local” for backing up the truth. The buildout on this unit is going to be in the 400k-1 million plus range. Anyone who thinks differently is a fool.
My costs come to $150. Thats One hundred and fifty dollars. Call me a minimalist, but I’m no fool;-)
“clio on June 9th, 2011 at 1:51 pm
thanks “a local” for backing up the truth. The buildout on this unit is going to be in the 400k-1 million plus range. Anyone who thinks differently is a fool.”
LMAO. You’re a troglodyte.
First it cost $1MM, and now $400M is doable.
My initial cost projection was $350M.
You suck at math, reading, life, and/or all of the above.
“The appliances will cost 30K and cabinets on a decent sized kitchen will cost the same. (The average 10x 10 kitchen will look ridiculously cheap and small this much space…needs to be at least 17 foot long.) This is before floors, electric blinds, doors, hardware, baths… Doing this unit cheap like a typical builder would be a huge mistake.”
Yep.. but ceilings and exterior walls should remain untouched (ok..maybe treated) and you can play with partial walls in areas too. This would allow you to really focus on the WOW pieces (finishings and furniture) and still come in much lower than you probably are thinking. Furnishings, I would think, would be the $$ on this one.
And ChiBuilder. You could piss in the nice big claw foot tub I’d probably focus some sort of throw-back bathroom around.
Oh, and I’m going off this being turned into a 1 or 2 bedroom.
Bradford on June 9th, 2011 at 1:37 pm
“Jennifer on June 9th, 2011 at 1:34 pm
Why don’t you pull your head out of the clouds and realize that there are people who live just fine without spending the kind of cash you do?!”
You are speaking solely to Clio, FYI.
Sorry should have specified Clio I guess.
Honestly we don’t feel deprived. We splash out when we want to, it’s just not every weekend. I’d rather have a few more $$$ in the bank than pay $5 for spaghetti my kid will just throw on the floor when a $1 box of Barilla does just fine. I guess $44,000 surgery bills do that to you.
“Technically the State of Illinois would like you to self-report your online purchases and pay sales tax on them upon filing”
ha yeah I saw that on this year’s return and LOL’d
“a local on June 9th, 2011 at 1:43 pm
(The average 10x 10 kitchen will look ridiculously cheap and small this much space…needs to be at least 17 foot long.) This is before floors, electric blinds, doors, hardware, baths… Doing this unit cheap like a typical builder would be a huge mistake. Its already priced at not a good rental, and no one is going to buy 4000 sq foot with these taxes and assessments with builder grade finishes….people who pay to live in these type buildings want luxury, modern finishes.”
I’ve got about 60′ of base cabinets and 20′ of wall cabs. For the wall cabs I went with 42″ and then did another 18″ set above that, to suit the scale of the 12′ ceilings. Solid wood flat maple doors (light cherry stain) with appropriate batting, all plywood construction full-frame boxes, soft-close mechanisms, and appropriate built-in features in various locations. Real *solid* stainless pulls. At least 60′ (linear) of granite too, with full height 18″ backsplash.
You guys would be surprised what you can pull off if you’re smart with your purchases instead of just giving a GC free reign.
“You guys would be surprised what you can pull off if you’re smart with your purchases instead of just giving a GC free reign.”
Who is being arrogant now? People doubt your story because it isn’t true. If anyone wants proof, go over what Bradford said (sub zero, wolfe, groh, soft-touch cabinets, 60 feet of cabinets, 3 separate HVAC units, etc. etc.) then add up the costs – the costs for the materials alone would be close to or over 100k, now add in labor, drywall, doorknobs/hardware, a few bathrooms, permits, etc. – and there is no way this fool/clown could renovate a 4000 sq ft place from the studs the way he said he did for 150k. That is just stupid nonsense talk from a dreamer.
Seems like there is a big gap between what it would take to renovate this.
150k is too low
1m is too high
400-500k is about right.
“clio on June 9th, 2011 at 2:54 pm
Who is being arrogant now? People doubt your story because it isn’t true. If anyone wants proof, go over what Bradford said (sub zero, wolfe, groh, soft-touch cabinets, 60 feet of cabinets, 3 separate HVAC units, etc. etc.) then add up the costs – the costs for the materials alone would be close to or over 100k, now add in labor, drywall, doorknobs/hardware, a few bathrooms, permits, etc. – and there is no way this fool/clown could renovate a 4000 sq ft place from the studs the way he said he did for 150k. That is just stupid nonsense talk from a dreamer.”
If I prove you wrong tomorrow, do you promise to put at least one .45ACP round through your temple?
Wow Bradford, you are lower functioning than I thought!!! That kind of talk not only would get you fired immediately from any job, but will also get you arrested. Be careful.
Your reading comprehension fails you again. I’m merely asking you to do us all a favor and take your own life.
How about “If I prove you wrong tomorrow, do you promise to quit posting your drivel on Cribchatter?”
You continue to out-troll each other. Impressive.
“That kind of talk not only would get you fired immediately from any job, but will also get you arrested.”
How so? I’ve heard similar, and not seen the speaker fired.
“Bradford I’ve got about 60? of base cabinets and 20? of wall cabs. For the wall cabs I went with 42? and then did another 18? set above that, to suit the scale of the 12? ceilings. Solid wood flat maple doors (light cherry stain) with appropriate batting, all plywood construction full-frame boxes, soft-close mechanisms, and appropriate built-in features in various locations. Real *solid* stainless pulls. At least 60? (linear) of granite too, with full height 18? backsplash.
You guys would be surprised what you can pull off if you’re smart with your purchases instead of just giving a GC free reign.”
Bradford – The cabinets you describe sound very Home Depot (possibly upgraded Home Depot) and granite is entry level, not luxury for a unit like this. I think we are discussing apples and oranges. Your discussing new builder grade, slightly upgraded…I’m discussing true luxury/custom. I think it would be a huge mistake for this owner to put standard (even upgraded developer) cabinets in. The taxes and assessments make this property feasible for luxury ownership, not rental. Putting in standard developer features…will not attract buyers who can afford the assessment/taxes in the future b/c the finishings will be way out of whack for the monthly carrying costs. Thus, if this owner ever needs to someday sell, he or she needs to build to buyer expectation. At this tax/assessment level, its custom/luxury. This will cost minimum 500K (if you do fewer bedrooms/ba) and most likely 850K.
People with luxury units want high end brands and unique design, like the other unit in that building (though that one is priced way to high..perhaps too high of finishings). High end modern, cabinets (are not typically maple…that’s dated) and most are not large 42″ inch cabinets that open left to right. Luxury modern cabinets open on lifts, and other unique levers, not left to right…and don’t look like kitchen cabinets. High end cabinets look like wood built-ins and appliances like refrigerators and dishwashers are fully built in and hidden. Most granite is entry level (there is a lot of ugly cheap granite out there…so they type really matters)…marble and Ceasarstone/Silestone are the new luxury.
I’m not trying to sound snobbish, nor do I live at that level. Rather, I’ve done several high end kitchens and just know what this type of buyer truly expects. I’ve seen developers putting high end appliances in cheap cabinets and slapping some granite down…that doesn’t attract a million+ dollar buyer (which I assume will purchase this given the taxes/assessment) these days…especially in a recession where people expect more.
“Bradford I’ve got about 60? of base cabinets and 20? of wall cabs. For the wall cabs I went with 42? and then did another 18? set above that, to suit the scale of the 12? ceilings. Solid wood flat maple doors (light cherry stain) with appropriate batting, all plywood construction full-frame boxes, soft-close mechanisms, and appropriate built-in features in various locations. Real *solid* stainless pulls. At least 60? (linear) of granite too, with full height 18? backsplash.
You guys would be surprised what you can pull off if you’re smart with your purchases instead of just giving a GC free reign.”
Bradford – The cabinets you describe sound very Home Depot (possibly upgraded Home Depot) and granite is entry level, not luxury for a unit like this. I think we are discussing apples and oranges. Your discussing new builder grade, slightly upgraded…I’m discussing true luxury/custom. I think it would be a huge mistake for this owner to put standard (even upgraded developer) cabinets in. The taxes and assessments make this property feasible for luxury ownership, not rental. Putting in standard developer features…will not attract buyers who can afford the assessment/taxes in the future b/c the finishings will be way out of whack for the monthly carrying costs. Thus, if this owner ever needs to someday sell, he or she needs to build to buyer expectation. At this tax/assessment level, its custom/luxury. This will cost minimum 500K (if you do fewer bedrooms/ba) and most likely 850K.
People with luxury units want high end brands and unique design, like the other unit in that building (though that one is priced way to high..perhaps too high of finishings). High end modern, cabinets (are not typically maple…that’s dated) and most are not large 42″ inch cabinets that open left to right. Luxury modern cabinets open on lifts, and other unique levers, not left to right…and don’t look like kitchen cabinets. High end cabinets look like wood built-ins and appliances like refrigerators and dishwashers are fully built in and hidden. Most granite is entry level (there is a lot of ugly cheap granite out there…so they type really matters)…marble and Ceasarstone/Silestone are the new luxury.
I’m not trying to sound snobbish, nor do I live at that level. Rather, I’ve done several high end kitchens and just know what this type of buyer truly expects. I’ve seen developers putting high end appliances in cheap cabinets and slapping some granite down…that doesn’t attract a million+ dollar buyer (which I assume will purchase this given the taxes/assessment) these days…especially in a recession where people expect more.
“though that one is priced way to high..perhaps too high of finishings”
Think they’re aiming for a profit.
Full (Ames Team) brochure for #3:
http://www.leapre.com/PDFViewer.asp?Brochure=leap/brochures/BR5949982071.PDF
“http://www.leapre.com/PDFViewer.asp?Brochure=leap/brochures/BR5949982071.PDF”
pg 152 bottom photo. how many people in Chicago can get around that pole and actually use that closet. That alone has to exclude close to 70% of Chicagoans.
Well, if its that kind of profit they want…their aiming for New Yorker transplants anyway.
I’d prefer to err on the side of caution and let the neighbors bring my property value up, as opposed to the opposite. The other unit, while absolutely gorgeous, is WAAAAAAAAAAAAAY overpriced.
I realize that my choices may not be for everyone. I’m merely saying it could be done. In fact, my original statement was to say it could be done for over TWICE what I paid to get my place done.
The cabinet *material* is maple, BTW. It’s not that late 90s light maple color. I chose maple for it’s hardness and mild grain, not to be trendy.
I don’t know how “high end” I would go with this place – it isn’t in the most desirable area to attract multimillion dollar buyers. I kind of agree with Bradford – just do a good reno for 400-500k and u will have a great place for 1.1-1.2 million
Please tell Jennifer Ames that the Gold Coast Art Fair moved to M. Park last year.
I actually went to go buy this unit on Huron. I went with a contractor and asked how much to make it look close to the unit that is in there for sale at like 2 million. Contractor estimated 400k to have a nice unit with standard good finishes (Wolfe, Viking type kithcen). To go crazy custom about 600k. A lot of the problem with this unit is you have to redo all piping for sprinklers which are low and there is a sprinkler like every 7 feet so need to move up and repipe quite a bit, or just live with low lying pipes and high ceilings. Lose some pimpituse though. Also is really closer to 3700 sq ft I think. Has much nicer views than I expected though for being not high up.
I dont often agree with Clio but in this case I have to say he is closer to right.
Closer than what? My estimate was $350k. Clio said $1MM until he got his a$$ torn wide open, then he backpedaled to $400-600M.
Bradford – the cost of a renovation of this magnitude with any reputable high end contractor WILL be over 1 million – no question. However, if you serve as your own contractor and designer and do some of the work yourself, you could probably bring that cost down to 400-600 for something decent (but not very high end). There is nothing discrepant about these two numbers, idiot.