Re-Selling in The Ronsley: A 2/2 Loft at 676 N. Kingsbury in River North
This 2-bedroom in the new construction loft building The Ronsley at 676 N. Kingsbury in River North just came on the market.
This is an older picture, but the building has now finished construction.
This building was a partial conversion of a brick industrial building alongside some new construction done by Project Interiors.
It has 41 luxury units and a parking garage.
It’s the first authentic loft conversion in River North in the last 10 years.
This unit is in the industrial building portion of the building and has 14 foot timber ceilings and exposed brick with large industrial windows. It looks like the living room ceilings are painted black.
It has custom built-ins.
The listing describes the kitchen as a “chef’s kitchen” with Subzero and Wolf appliances along with a quartz waterfall island.
The master suite has a spa-like master bath with herringbone wall tiles.
It has central air, washer/dryer in the unit and parking is $50,000 extra.
It closed last December for $920,000 and has come back on the market at $1.3 million.
Will it get the premium?
Colin Hebson at Dream Town has the listing. See the pictures here.
Unit #101: 2 bedrooms, 2 baths, 1820 square feet
- Sold in December 2017 for $920,000 (per Redfin: not sure if this included any parking)
- Currently listed at $1.3 million (parking is $50,000 extra)
- Assessments of $625 a month (includes doorman, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes are “new”
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 16×14
- Bedroom #2: 16×11
- Foyer: 27×6
- Walk-in-closet: 9×6
No, it will not get the premium. The price is a joke, this is the last place in RN I’d choose to live.
Is this Jimmy Buckets place???
“Is this Jimmy Buckets place???”
Nope, the place he’s selling is on the 5th floor.
Wow, those pictures are a joke as they showcase plants and furniture more than the rooms. What kind of agent selects such ridiculous photos? Luckily, there is a 3D walkthrough so it’s not as big of a deal, but just a bizarre decision.
And agreed that it will not get the premium. Cool place, but not worth $1.3M.
I wasn’t going to buy this place, but now that I’ve seen picture #7 with its artfully wilted planting and giant gold fortune cookie, I’m ALL IN!
$1.3MM and never be able to open the curtains
Sounds like a steal
This is one badly configured unit. Enter and go through a long dark hallway to….the 1st bedroom. then go through another long hallway to reach the kitchen/living room. Then go through an aclove to reach the master bedroom, which requires you to go through another long hallway to reach the closets. Also to reach the toilet in the master bedroom requires you go past the shower and tub. Sometimes when you gotta go…u gotta go urgently….guess you can always pee in the shower.
Please! Enough with the lofts!
Slick, cool decor. But let’s remove all the furniture and see what we have here (why am I looking at a houseplant and a knicknacks?). Somewhat smallish in scale. A view of nothing special on a 1st floor (hello upstairs loft neighbors). Lots of narrow tunnel like hallways (as much as I do like the master closet down a hall, it does keep from waking a partner to get dressed early). Barely enough room for a dining table (tho I admit a clever use of a banquette). I imagine a party of 20 people here, somebody would be standing in the tub or shower for space. For 1.3MM I want more. But hey, it photographs beautifully.
Just FYI, 6 of the last 12 featured properties on this site have been lofts or loft-like spaces. Is this really representative of the Chicago housing market? If it is, I probably have no right to complain. I just don’t like the style and find them to all look the same, pretty much. Kind of the way I feel about “cross-over” vehicles.
I used to live over that way. That Ronsley stood empty for years while it was tied up in court for some reason or another. They put plastic on the windows but a bad storm would come through and blow apart the plastic and inside would get blizzards, sleet, rain. I think this building is going to be nothing but problems. I pity the special assessments in 5 years to fix rotting wood and a host of other issues that are waiting.
The markup is likely something of an illusion, as the finishes were most likely done post-purchase. The price comparison won’t do them any favors though.
A good example of why not to pour finish money into a sub-par base unit, it feels unlikely they’ll get their money out.
Not quite my taste, but I do like seeing something with a little personality instead of the normal builder specials. Chicago is so remarkably bland compared to any of its peer real estate cities, and this bucks that trend.
“Chicago is so remarkably bland compared to any of its peer real estate cities, and this bucks that trend.”
It is?
Who are our peer cities?
Philadelphia? Houston? San Francisco? Toronto?
Philly has some lovely architecture as well. Love some of the old neighborhoods and the suburbs are lovely. Houston blows in new and old construction.
San Francisco burned down a 100 years ago and didn’t build anything interesting in its place. There’s better architecture in Oakland and Los Angeles. San Jose is even worse though.
Toronto is okay but it has no real skyline definition and its high rises are pretty much square boxes.
I was just in the Fulton Market and West Loop and was admiring the fantastic old food company buildings on Randolph, some of which look art deco in design. Just spectacular. Only New York, Philly and Boston have buildings like that.
Now Philly, Houston and Toronto are peer cities?
I’d say Toronto is the only one that is an actual peer, very similar town to Chicago really… Philly is tiny and way older, houston… no
“Toronto is okay….”
Toronto is amazing.
“Now Philly, Houston and Toronto are peer cities?”
I never said that.
He said “peer real estate cities.” Well…who are they???
Toronto would definitely be one but I would argue that Chicago’s real estate blows it away (and I actually lived in Toronto for 6 months.)
So who is it? Chicago invented the skyscraper. Has plenty of historic structures. Philly matches Chicago in terms of the industrial feel but it’s much older (obviously) and has some really great historical neighborhoods. NYC has it all, both history, great high rises etc., so I wouldn’t call it a “peer.”
San Francisco saw most of its city burn down 115 years ago and never really replaced it with anything remotely interesting.
So who’s our peer then?
If it wasn’t clear, what I was saying that Chicago has bland interiors, Sabrina. I thought that was obvious, but maybe it wasn’t.
Chicago is obviously at the top of its class in terms of historic architecture. Our recent architectural contributions are fine.
However, the interiors produced for Chicago in the past 10 years might as well be in Indianapolis.
“If it wasn’t clear, what I was saying that Chicago has bland interiors, Sabrina. I thought that was obvious, but maybe it wasn’t.”
Ah- the interiors.
That’s a different story.
Our interiors are awful! Truly. Even in million dollar properties. No paint. No drapes. Awful furniture.
It’s usually a disgrace.
It’s the sameness of the interiors in new construction that I find appalling. Same colors, same materials, over and over again. So little creativity or risk-taking.
“Our interiors are awful! Truly. Even in million dollar properties. No paint. No drapes. Awful furniture.
It’s usually a disgrace.”
Well when the city and state and everyone else taxes you and takes all your money you don’t have much left to hire a design firm