2-Bedroom Duplex Loft With Terrace Returns 2 1/2 Years Later: 1322 S. Wabash in the South Loop
We last chattered about this 2-bedroom authentic duplex loft in the Filmworks Lofts at 1322 S. Wabash in the South Loop all the way back in October 2008.
See our prior chatter and pictures here.
At that time, it was listed at $429,000.
Bob actually believed it might sell for around $400,000. (My how things have changed!)
Instead, it has returned to the market listed $89,100 under that 2008 listing price at $349,900.
Back in 2008, G also shared some insights about the building:
“Another problem with this unit is the parking security gate going up and down just off your terrace. The entrance is between the terrace and the Filmworks II bldg seen on the left of the terrace pic. The lot entrance/exit makes a hard turn under the terrace as well, so hopefully your neighbors do not have squeaky brakes and low power steering fluid. The tight fit of the entrance means the gate must rise up, so it might be seen as well as heard. I don’t know how many times a day it opens/closes, but there are probably 100+ garage/pkg spaces using this lone entrance.”
The loft has exposed brick and timber ceilings.
One out of the 2 bedrooms is on the second floor.
The kitchen has stainless steel appliances.
The listing says the private bricked in terrace was professionally landscaped by Sprout Home.
The loft is now listed $32,600 under the 2004 purchase price.
Is this a deal?
Eve Kronen at Coldwell Banker again has the listing. See the pictures here.
Unit #C: 2 bedrooms, 1.5 baths, duplex, 1700 square feet
- Sold in August 1995 for $157,000
- Sold in October 1999 for $249,000
- Sold in April 2001 for $292,500
- Sold in September 2004 for $382,500
- Was listed in October 2008 for $429,000 (parking was $10k extra)
- Withdrawn
- Recently re-listed at $349,900 (parking included)
- Assessments are now $460 a month (includes cable)
- Taxes of $4,849
- Central air
- Washer/Dryer in the unit
- Private walled terrace
- Bedroom #1: 15×15 (second floor)
- Bedroom #2: 13×11 (main floor)
- Living room: 27×27
- Kitchen: 16×9
nice proportions. professionally landscaped garden would be a plus but it looks dreadful from the photo provided.
REO in 12 months?
$265
Yes, that is the El track right outside the patio…..nice flowers.
is the terrace sodded? We have another example of a listing agent substituing “art” for listing photos…
Looks like a unique place but the gate issues could be a problem…
anon (ufo) doode doode dude doode dude you have to google street view this place, thank me later
http://maps.google.com/maps?q=1322%20South%20Wabash%20Avenue%20%23C%20%20Chicago%2C%20IL%2060605
“you have to google street view this place, thank me later”
pretty awesome
and the giant rat represents what??
This place is awesome for the price – very good deal – I would have totally bought this as an in-town (and saved 700k!!). The patio/driveway/el issue really is a non-issue. You guys have to realize that you are not going to spend a lot of time on your balcony NO MATTER WHERE YOU LIVE!!! I know that everyone imagines parties and laying out and spending countless hours/days in their outdoor spaces but the truth of the matter is that you will use the space a MAXIMUM of 1 -2 hours/day, 3-4 days a week for 6 of the 12 months (and that is someone who uses their spaces a LOT).
Groove — that is awesome. IrishLad — the giant rat represents a union protest against a company using non-union workers.
“but the truth of the matter is that you will use the space a MAXIMUM of 1 -2 hours/day, 3-4 days a week for 6 of the 12 months ”
and that would make the noise pollution even more rage inducing. Just think the little time you have to relax and catch fresh air wouldnt you want it in a peaceful environment?
Odd furniture arrangement on the first floor. The garden has some nice possibilities.
clio – I grill year round, and with the addition of a patio heater I extend the season well into april and november. This year was no exception. It’s truly an outdoor room for us and our guests. So up your MAXIMUM statement, or qualify yourself and switch that to average.
“The patio/driveway/el issue really is a non-issue”
Cannot speak for the driveway, but if the el is THAT CLOSE to your residence, you will hear it both inside and outside your place.
clio, there is no way you would have bought this as an ‘in town’ – this location blows. i lived at museum park for a year and know this neighborhood well; this side of state is close to the roosevelt redline, there is nothing to do and the homeless people get super annoying. there were 2 assaults on women at the jewel and wabash tap in the past year or two. aside from prairie street/museum park there isn’t much potential in the south loop yet.
Interesting…very nice actually…space but the proximity to the El kills it for the majority of those in the market today. Gone are the days when one would ignore such negatives…buyers are pickier than ever and noise pollution now is a big factor.
I was 2 blocks and the width of Skinner Park from the Racine blue line stop and I could hear the el every night when on my balcony…at times I even heard the trains announcing the Racine stop. I don’t know how anyone could live this close to the lines? Subway noise is sometimes aggravating to me here in NYC…and it pales in comparison to the El noise.
But like I stated above…very nice place. Totally annoying to see the flower pics in the listing though.
This place is real cool. But the association fees are highish and the location does suck. I agree with Riz, there is a TON of homeless in this area and it can get pretty shady sometimes at night.
Westloopelo – The key is being in a unit that is well above the el and not located even with or below the tracks. That noise is still there but it pales in comparison to the units that are at or below the train.
I’m a bit indifferent on this issue and actually find watching the approaching train relaxing….My daughter is like Tattoo on Fantasy Island. She runs to the window and yells train train….and I hold her up so that she can wave to them and count the cars.
Buyers are very picky but still out there. I actually turned down a cash offer for my loft back in April. It was a bit low but reasonable as I still made some money on the sale. It was just not the right time to move.
The homeless in the area does suck (it’s well known in SLoop community for that), as does the El noise pollution, but for the right buyer who wants to be car independent, this location is one block from Roosevelt Redline stop, one block from the slew of buses on Michigan, one block from (the coming) Trader Joe, half to three blocks away from half a dozen restaurants and bars (Gioco, Flo&Santos, Bongo Room, Yolk, Eleven City Diner, Ma&I), two blocks from Grant Park, if they had young kids, two blocks away from literally three daycares, three blocks away from SLoop Elementary and Old St Mary school, walking distance to museum park (and of course the lake front). Take it for what’s it worth to you, but a hellhole location, it is not.
“and that would make the noise pollution even more rage inducing. Just think the little time you have to relax and catch fresh air wouldnt you want it in a peaceful environment?”
If you need to relax – then move to the suburbs!!! believe me, the majority of people in chicago don’t have any outdoor space and do just fine (and I am talking about people paying upwards of 1 million for their units with no outdoor space).
“If you need to relax – then move to the suburbs!!! ”
no that 3 hour commute in traffic everyday would not relax anyone.
“believe me, the majority of people in chicago don’t have any outdoor space and do just fine (and I am talking about people paying upwards of 1 million for their units with no outdoor space).”
yes but is that their only residence? i though not.
“anon (ufo) doode doode dude doode dude you have to google street view this place, thank me later”
Made my day. Thanks Groove.
And yes, those two do look like Local leadership. I like that they’re both staring at the Google camera with the “WTH” look discernible even thru the pixelation.
“Made my day. Thanks Groove.
And yes, those two do look like Local leadership. I like that they’re both staring at the Google camera with the “WTH” look discernible even thru the pixelation.”
when i google mapped it to see how close the tracks were the rat was right there, i got all giddy like a school girl and could wait to post it for you 🙂
*disclosure; i crossed a picket line and went to work once. rent and car note were due and the piddle they pay for picketing wasn’t going to cover it.
“And yes, those two do look like Local leadership. I like that they’re both staring at the Google camera with the “WTH” look discernible even thru the pixelation”
its not even just the look its the chicago stance and the cake taker is the way he is holding the cigar. “watta ju lookin ats”
Riz,
We have an in town in SL and we love the neighborhood, I can walk to the museums as do our guests, there are free tennis courts near by that we take advantage of frequently. There are many restaurants around the neighborhood even a great little Italian grocery store. Taking ones car, it is super easy to go to Whole food on Roosevelt and in general quickly get to LSD or I90, I290 which is a plus for us. There EL on Roosevelt is close by and on Michigan ave. there are many bus routes. I often hop on no. 3 to go to down town when it is cold. No. 4 takes you to U of C and there are many more. The cabs are abundant when in a rush. We have taken a cab 15 minutes before a performance at Lyric and have make it there (barely…lol). So I love the location. Depends what your like of course.
“its not even just the look its the chicago stance and the cake taker is the way he is holding the cigar. “watta ju lookin ats””
I assume you saw the smoker’s car (I’m guessing, but it’s not much of a stretch), too. It’s a perfect Chicago scene.
it will close for over $300.
nice space if the square footages is accurate. with the outdoor space and parking…i’ll say it closes for at least $315K.
“I assume you saw the smoker’s car (I’m guessing, but it’s not much of a stretch), too. It’s a perfect Chicago scene.”
somebody in IT or tech savvy please tell me how to make this my screen saver!!
JC,
thank a very good write up of why i love the south loop, location to me is A++++ but the market there is just too scary thats the variable why i would rent there and not buy.
Jc,
Gioco is gone as is Opera. Zapatista still exists though across the street.
“Gioco is gone”
Odd, as I can make a reservation for this evening:
http://www.gioco-chicago.com/
“Gioco is gone”
It was temporarily closed, it’s back open now and Opera is changing to “The Scout” which should open up soon.
I think this is a pretty cool space… just wish it had 2 full baths.
re: miumiu, “We have an in town in SL and we love the neighborhood, . . .”
You strive like a bret easton ellis protagonist. You go to museums. You are a patron of whole foods. You play tennis, and attend Der Oper (barely…lol). Your review is of you and not the neighborhood, but I suppose if your screen name is an expensive shoe, your self perception is probably pretty accurate. Kudos to being comfortable in your skin, and do not worry, I did notice that your card stock is super-ooper white and finely lettered. Nice watermark.
Bob 2 is right Gioco is back. It is always full so I guess their business is doing well.
Last time I was at Zapas I could still make a reservation for gioco online but it was clearly still closed down. Maybe it did reopen but at least it was closed for awhile, I believe by the city.
Bob2, do you know anything about the scout? I’ve seen the permits up and have been curious. I’m still sad opera is gone.
Groove77 said:
“somebody in IT or tech savvy please tell me how to make this my screen saver!!”
First, I’m assuming you’re on a PC. If not, disregard the instructions.
Groove – try right clicking and “save image as” first. If that doesn’t work, pull up the large version of the picture, then do a ctrl-PrtScn. Open up MS Paint, hit ctrl-v to paste. Use the cropping tool to cut out the picture, paste it into another Paint window, then save.
Go to your desktop, right click and go to Properties for XP and Personalize for 7. It’s been a while since I’ve been at an XP computer, but find the setting that allows you to change your desktop picture. In 7, it’s all located in the Personalization window that pops up.
This place can look pretty nice if decorated well, although it is not my taste really.
The EL noise must be pretty bad though even inside.
“Bob2, do you know anything about the scout?”
Sloopin.com is a pretty good blog to keep up with all the happenings in the hood. There has also been this article recently http://chicago.metromix.com/restaurants/article/coming-soon-to-the/2603720/content
Gonna be a sports bar, sounds pretty good on paper so far. Would be nice to have a big one as an alternative to Krolls and its awful food.
I live in the South Loop and love it. Miumiu’s points are spot on about what makes the South Loop great. Of course it’s not for everyone. Definitely not as gentrified as other neighborhoods (which I actually like).
Also much more affordable (and will likely remain so given the space to build) than other neighborhoods with similar proximity to lake, parks, downtown, etc. (but that also means anytime property goes up, they will build and keep the price from going up too fast. Just build that into the price you pay for a place.)
As for this place, I have a friend who lives in it on a higher floor facing wabash. Pretty cool building and can’t really hear the El. (the rest of the building insulates unit from the el noise) However, it looks like this unit is on the back-side of the building (which does face the el, so definitely loud outside, probably loud inside)
What I want to see is the 1/2 bath. Very spacious, could this place be turned into a 2 bath place? I’ld say 300k.
“benjamon9 on May 12th, 2011 at 11:02 am
Bob2, do you know anything about the scout? I’ve seen the permits up and have been curious. I’m still sad opera is gone.”
Scout: http://www.sloopin.com/2011/04/more-info-emerges-about-scout.html
Gioco: http://www.sloopin.com/2011/04/gioco-re-opens-with-some-new-items-on.html, it has more to do with Jerry Klerin and his little empire (KDK Restaurants) going down than the Gioco’s individual viability (as it’s reported doing much better than others in the group), though they are certainly related. Sabrina featured (presumed) his house in the West Town that’s on the market recently as well on CC.
Thanks for picking up on this great space. Yep, a great price. However, that gate does not go up and down in front of this unit. That is unit A not B nor C. SO folks you can always find something not to your liking when looking at real estate, nothing perfect. Even when you custom build a home. At this price and in a building with great owner occupancy, amazing neighborhood amenities and pretty darn good financials, that objection can be easily tossed out. So come on in and make an offer! You should see the garden all in bloom
The El shouldn’t be that bad here. You are only dealing with the Green and Orange Line trains, which run at much lower off peak frequencies than most other lines and they are both shut down from 1am-4am.
Looks like a nice place.
thank Anonemoose,
i caught your post before i left work. i had to do the cut and paste then crop thing you suggested.
it is now my screen saver and background
Cool Groove! Glad it worked for ya. 🙂
I’m always yanking images off of the ‘net and using them for avatars or backgrounds. One of my currently used ones is the hipster trap.
Where are all these “homeless people” in the South Loop coming from? I know the Pacific Garden Mission used to be there but it moved, right? And there is an SRO building on South Wabash (won a Good Neighbor Award from the Chicago Realtors Assn. a few years ago) whose residents are by definition not “homeless,” right?