We Love Authentic Lofts: 825 N. Racine in River West
The loft building at 825 N. Racine has been lofts for decades which means they are usually larger and have authentic loft features.
This 2-bedroom unit has tin ceilings and your own private sauna.
Here’s the listing:
RARE TRUE LOFT WITH SMASHING DETAILS: ORIGINAL TIN CEILING, ARCHITECURALLY INTERESTING ANGLES, 3 EXPOSURES FOR LOADS OF NATURAL LIGHT, CUSTOM LAQUER CABINETS, 6 BURNER GARLAND STOVE, GRANITE FLOOR IN ENTRY/KITCHEN/LAUNDRY RM.
ORIGINAL MAPLE THROUGH UNIT. 8’W FIREPLACE. SAUNA, SEP SHWR & WHIRLPOOL IN MST BTH. RIGHTS TO BLDG PRIVATE ROOF RM & DECK. EXTRA WIDE 1CAR GAR AND PRKG PAD IN FRONT OF GARAGE.
Debra Dobbs at Koenig & Strey has the listing. See more pictures here.
Unit #201: 2 bedrooms, 2.5 baths, 2400 square feet, 1.5 car garage
- Sold in May 1991 for $275,000
- Originally listed in May 2008 for $549,900
- Reduced
- Currently listed for $519,500
- Assessments of $410 a month
- Taxes of $6,509
- Central Air
- Sauna
Sauna can be easily converted to cool wine cellar/room
Ok you got me. Great location and with amenities that justify the price. Plus those ceilings are awesome. Any place with its own private sauna qualifies as upscale in my book. I predict this will sell near ask.
And, it’s only 3.8%/year higher than the 91 price. So it’s sort of reasonable, especially considering how that area has changed. But it also shows what a poor investment real estate can be w/o using leverage–it’s a good return on $55k invested (9.2%/year), but 3.8% is pretty sucky for the holding period and illiquidity.
John S. what’s your prediction?
I don’t think the location is all that great. VERY close to the Kennedy.
The location is not the greatest – it is right on Milwaukee (the el essentially runs under the building) and the Kennedy is pretty darn close. But it is really close to the Matchbox which is a great bar.
I’ve been in the unit. Big space, very cool ceiling and original floors but the kitchen and the bathroom (and the blue wall with a shape carved out of it that separtes the bedroom from the living room) are in need of a serious update – they have a very 80’s vibe. Roof rights to a pretty large space on the roof.
Certainly different and unique.
And I forgot one really cool feature – a massive (massive) wood burning fireplace in the corner of the unit.
Very cool indeed. That ceiling is great and the unique rooms make for a very interesting place. Could you possibly do a partial wine room and keep that sauna? Somewhere to burn the calories off from all that extra vino. And does anyone know what this roofdeck/room consists of?
I think you have the right to build a roofdeck with a cabana on it; it’s not already built. Depending on how fancy you wanted it, you would spend anywhere from $20K to $50K adding it. Don’t know what the access looks like; that is, whether you’d have to exit the unit or not. I think this place looks really, really cool…
Access from in the unit would make all the difference in the world. I just could not see using it enough if you had to leave your unit to justify the cost. Great listing though Sabrina its a very interesting unit. I am very interested in seeing what it sells for.
I think this was on the market in January combined with the unit below it which was partially used as an office space (total of about 3000 or 4000 sf). I looked at it then and it was really weird and not nearly as cool (or upscale) as the photos make it seem (and we were actually looking for a kind of weird space).
area is fine, and you can’t even hear the Kennedy from there. I live right on the Kennedy, and with the right windows you wouldn’t even know it’s there.
No place is perfect.
“with the right windows”
Brick?
Is noise even the greatest concern living next to the Kennedy?