Get a 2/2 With Parking for Under $325,000 in the South Loop: 1430 S. Michigan
This corner 2-bedroom at 1430 S. Michigan in the South Loop came on the market in August 2020.
Built in 2000, this building has 50 units around a central courtyard and garage parking.
It was built in “soft loft” style, with concrete ceilings and exposed ductwork.
It’s not a full amenity building. There’s no doorman or other amenities.
This unit has floor to ceiling windows with “tree top views” and true hardwood floors throughout, including in the bedrooms.
The kitchen is open to the living room and has light wood cabinets, granite counter tops and stainless steel appliances along with an island.
The primary bedroom has an en suite bathroom.
Both bedrooms have windows.
There is a balcony off the living room.
It has the features buyers look for including central air, washer/dryer in the unit and garage parking is included.
Originally listed in August 2020 for $339,500, it has been reduced to $324,900.
That’s under the 2017 sales price of $327,000.
Is this a deal?
Keith Tarasiewicz at Redfin has the listing. See the pictures and floor plan here.
Unit #304: 2 bedrooms, 2 baths, no square footage listed
- Sold in November 2000 for $208,500
- Sold in July 2007 for $318,500
- Sold in July 2017 for $327,000
- Originally listed in August 2020 for $339,500
- Reduced
- Currently listed at $324,900 (garage parking included)
- Assessments of $460 a month (includes security system, cable, Internet, exterior maintenance, lawn care, scavenger)
- Taxes of $5794
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 12×12
- Bedroom #2: 13×10
- Living/dining room: 18×13
- Kitchen: 13×9
- Foyer: 12×5
- Balcony
The negatives of the this unit seem to be offset by its price that includes parking. Also reasonable ass-fee, and taxes. Odd to see a logical unit on cribchatter?
Kitchen and bathrooms a bit basic, but not offensive. I personally wouldn’t go higher than 300k but RE do what it do.
‘You might not have the things you want, but if you check carefully, you got all you need’
-Lawrence Tureaud
“wouldn’t go higher than 300k”
This is a ‘howmuchamonth’ place, with ~$1000 in fixed cost even if you pay cash. ’00 price + CPI = $314, so it’s spot on, even with how much better SLoop is than 20 years ago.
What are the rental restrictions like in the building? Not as an investment, but as an exit strategy.
Just reminds me I’m so over laminate/engineered whatever flooring at really any price point. Nice unit.
Lots of positives with this one, but I could never live with exposed ducts. Reminds me of a warehouse or basement and would never feel like “home”.
A tiny sub 900sf, non updated, 2Br for $365/sf?
The grille in the LR is filthy
Not offensive, but dont think its worth ? $300/sf
“Just reminds me I’m so over laminate/engineered whatever flooring at really any price point. Nice unit.”
are you referring to this place? looks to be solid oak flooring here.
The bedrooms are *terrible*. The main portion of the ‘primary suite’ is 8×11, and has two doorways, reducing the usable space further. then you have a 6×5 space to put something in front of the window.
The other one is 8.5×9.5 (the 12’6″ measurement is from the glass to the hall), plus the two window areas, and has an entire wall of doors, again reducing the usable space. Would be a nice office area, tho.
Basically the size of dormroom ‘suites’ bedrooms.
“are you referring to this place? looks to be solid oak flooring here.”
Yeah, no I should have been clearer. Its nice see to regular old solid wood.
What’s the play here? Sold for $1,000,000 plus cost of major rehab, what will this be worth post-rehab?
https://www.redfin.com/IL/Chicago/3759-N-Janssen-Ave-60613/home/13384864
https://www.estatesales.net/IL/Chicago/60613/2823672
Meets all my requirements:
-Both bedrooms have windows and door
-w/d and dishwasher
-balcony (not accessed through bedroom)
-parking
-no carpet
-bathtub
-Reasonable assessments and taxes
-Near lake, loop
Perfectly nice place for one or two people to live long term. Glad I can afford a little nicer, however.
Are those few wire shelves really the primary bedroom closet?! Other than that, nice unit that will really shine with some cosmetic bathroom updates.
I owned the mirror of this unit when the property was first developed. I was so happy I got a quick flip and made a nice profit because I should have sued the developer instead.
The unit delivered was not what was depicted in the marketing plans. The primary bedroom is too small to fit a king and even a queen has to be shoved up against the window and can only be accessed from one side.
The primary bath was supposed to have two lav’s. The whole place is much smaller than it looks in these photos…