We Love Authentic Lofts: 215 N. Aberdeen in the West Loop
215 N. Aberdeen, the Blue Moon Lofts, is an authentic brick and timber 77-unit loft building in the West Loop.
This 3-bedroom penthouse triplex unit is currently on the market. It has two outdoor spaces including a 500 square foot private rooftop deck with city views.
It also has a separate master suite with its own bath on the top floor.
The kitchen has granite countertops and stainless steel appliances.
Peter Tortorello at Koenig & Strey has the listing. See the pictures here.
Unit #609B: 3 bedrooms, 2.5 baths, 1750 square feet, 2 car tandem parking space
- I couldn’t find an original sales price
- Originally listed in July 2009 for $459,000 plus $35,000 for parking
- Still listed at $459,000 plus $35k for parking
- Assessments of $737 (with $273 of that being for capital improvements)
- Taxes of $5894
- Central Air
- In-Unit Washer/Dryer
Triplexes that are less than 2000 square feet bum me out because you just have these little areas and tons of stairs. Looks like you have to trapse your guests through the master bedroom to get out to the deck. Do a streetview on this place – scary. It’s the only decent building in sight. I will say that the master bedroom is cool if it’s got all 4 exterior walls.
Pretty cool place, I don’t mind triplexes in lofts because they seem spacious. Also the hood isn’t that bad, its the fulton market meat packing district there and it does have a quite a few nice restaurants and clubs on randolph as well as fulton. As for the price, who knows…
I like this place…very different. I think it will sell pretty close to asking price.
Like this a lot. Price seems reasonable if the assessments revert to $470-ish after the “capital improvements.”
Only major drawback to me is the tandem parking. Perhaps you could reconfigure the exit to the roof deck so you wouldn’t have to walk through the master.
I’d hit this place near the asking price if I was in the market in that range.
I have tandem parking and never thought it to be that bad. Not everyone in the city has 2 cars, and if you do just put the extra set of keys on your ring. We have one car that just sits there because she’s in the front spot.
I think the bigger difference is between no parking and one parking spot, not one vs. two full parking spots. To me, the tandem is kind of a bonus since most places just have one spot.
Two commuters with two vehicles = giant pain in the ass with tandem parking. Been there, done that. It sucks.
Tandem is the same as one space to me. IE – unacceptable.
The most annoying thing is that when I set my search preferences to “Parking = 2+” I still have to look through a bunch of properties that I’m not interested in. I would much prefer that they list them as 1 space, but I won’t hold my breath…
It is very difficult to find places with 2 parking spaces in Chicago. I am from Atlanta and EVERYONE has two spaces there. However, when I bought my first place back in ’01 all the Realtors just looked at me like I was an alien when I asked for two spaces. I guess you can get two spaces if you are willing to shell out the cash for a high rise and buy an extra spot, but in general, two spaces is unusual.
We did get a place with a tandem spot though and that was one of the main reasons we bought the unit.
No parking is a deal breaker. One space is a requirement. Tandem is a bonus and two seperate spaces is a icing on the cake.
“No parking is a deal breaker. One space is a requirement. Tandem is a bonus and two seperate spaces is a icing on the cake.”
Well put russ. We’ve manage to make the tandem space work for 2 cars and 2 scooters! There’s an occasional shuffle needed, but way better than street parking even where it’s pretty available.
I used to live in this building. I love the area, very quiet after work and on the weekends, or basically any time I wasn’t at work. Lots of truck traffic from about 4 AM to 2 PM M-F, but I don’t remember it ever being a noise problem. Regarding the parking, I can’t remember any true tandem spaces. I do remember most of the spaces were very deep, but not quite deep enough for two cars. Maybe two mini coopers, but thats about it. I could be wrong though–it’s been awhile.
The only nags I have against this unit is anyone working on any of the 76 other AC units has to traverse this units roof deck and climb over the deck railing to get to the AC units. Also, I’m sure the noise from the green line is noticeable on the tower-portion of the unit. It’s less than half a block to the south.
I’ll bet the views are spectacular, though.
I can’t believe all the critism of the tandem spot. Russ put it well. If it bothers you just pretend it’s one spot, job done. Most of the time you only get two spots with SFHs anyway. I like this unit a lot. It’s really close to great stuff on Randolph and even on Fulton Market St. I actually like the idea of being a block off the high street as oppose to being right on Randolph and dealing with all the clubbers. I actually don’t think the assessments are that bad either considering it’s 1700+ sq ft. It’s nice to see a reasonably priced unit that probably won’t have to sit for 150 days only to slash it’s price another 20 percent. I give props to the sellers.
Does this building have an elevator? The unit seems pretty high up?
The immediate neighborhood is a bit grungy and industrial, but I don’t think it unsafe or anything – it’s close to all the restaurants on Randolph and the shops on Madison.
The big problem I would have with this place is the proximity of the El – it’s only a half block away with no buildings in between to block the noise. There are however a few buildings on the other side of the El that are tall enough to make it even worse by reflecting the noise back. I have walked through that neighborhood a few times and the EL is LOUD right around there.
“AK49 on September 1st, 2009 at 4:23 pm
I can’t believe all the critism of the tandem spot. Russ put it well. If it bothers you just pretend it’s one spot, job done.”
Uhhhhh, unless you have two cars. 8-|
I don’t care if you have six or seven cars. The point is if you hate tandems and consider them only as good as a single spot, then simply price it and consider it as such. My point is that I think you’ll find most of the area comps only have one spot. Complaining that this only has a tandem is like arbitrarily complaining that it’s missing a third spot or for that matter that it’s lacking a helicopter pad, yaught parking or a live-in butler.
I’m merely pointing out a drawback of the property.
The whole area surrounding this unit is VERY grungy, dark, loud (El going down Lake is unbelievable and that sound does carry quite a distance), truck traffic during the day is horrendous, roads are terrible, patrons exiting the restaurants (Publican esp) can be quite raunchy…well the negatives for this area are too many to list without sounding like a whining biotch. Now when I do go to any restaurants in the area I walk as parking is such a hassle. When I did find on street parking I got two nice scratches from drunks slamming their doors into mine.
As far as this unit is concerned, while it may be somewhat unique, I agree with Jon in that a triplex of this size has a ton of space taken up by the stairs. Think about it, 1750 sq ft for 3 floors = almost 600 per fl. Not a lot of space for much of anything.
I distinctly remember looking at this building wondering what was on the top floor, if it was a condo I thought it would be a cool place. After seeing the pics, gotta say I am not impressed…and I generally love loft style living.
Re: the tandem parking. To me it is not a big deal IF you are single and have two cars, one of which you use daily and one a ‘special occasion’ car that does not get much use. I can’t think of the hassle that would be involved with two seperate people with their own cars.
I’ll pass on this one and can’t really imagine much interest, esp during these times.
i am all for unique places but there’s no shot i’d buy a 1700 sq ft place spread out over 3 floors. the place looks cool and i suspect it will sell at about 5-10% below asking, it’s just not something i’d ever buy. looks like a decent place for a young single finance guy who wants to work close to work and rent to a buddy or two.
“a young single finance guy”
Certainly a bountiful and growing demographic and target market these days..riiiiight?
Oh BTW genius,
We have one “young finance guy” (maybe single) on here and he lives exactly where I would expect someone like him to live (RN), so I don’t think your theory of a target market holds any milk at all.
Hey maybe the “young single finance guys” in NYC will start moving to the Bronx, northern Jersey or Connecticut, too?
The West Loop was one of those ‘newly gentrifying hoods’ that was made due to the bubble. To expect it to be saved by bubble folks and bubble demographics when even established neighborhoods are having problems holding their ground is a tad bit idealistic.
tay,
Another few questions for ya:
How many jobs are in America these days? Is it more or less than before this part of “west loop” gentrified? (Hint: its less)
Is this really the “West Loop” or instead “the hood”?
Another comment: “young finances types” aren’t stupid. They’re generally much smarter than the general public and have their pulse on valuations and where markets are heading more than the general public. Not that I am one but I wouldn’t touch this place with a 10ft pole and neither would they.
Stop speculating about a demographic who can see a turd in the pro-RE cheerleader pom-pom wielding’s crowd’s punchbowl long before most.
This owner should be praying for a genuine greater fool. And praying often.
>
Are we to take that as a legitimate question?
Anyone who considers 215 Aberdeen “the hood” (sic) needs to get out more.
bob thinks the 7-eleven is stepping into the hood.
Tandem–no problem since I park behind my wife and she takes responsibility for moving the cars around. She volunteered. Who am I to tell her she can’t.
I agree with the first post that triplexes are worth less than having the same square foot on one or two levels. Lofts are meant to have vast open spaces. When there are chopped up rooms and levels you lose the lofty feel. Lofts are more than brick and exposed ducts. In fact, the modern trend in lofts is to hid the AC venting (dusty and load) and leave only the sprinklers showing. That said, at least this unit is not cookie cutter. I think lofts have held there value better than other types of units.
I agree roma, this area is NOT the hood at all. It is, however, a very dark and grungy area with crappy streets.
I do walk through the area at least once a week at night going to coming from restaurants there and have never seen anything suspicious or felt I was in danger.
I would think the beginning of ‘the hood starts at Ashland…now that is one area that I would feel unsafe in late at night. And I am from NYC and a big guy who has no problem taking care of myself… against anything but a gun.
LOL @ Steve…
What is that brick wall in the kitchen for? Totally separates the kitchen into two pieces – Ick! And that piece of glass for a window in the bathroom is a turnoff.
“The West Loop was one of those ‘newly gentrifying hoods’ that was made due to the bubble”
i think the west loop would have happened bubble or not. during that time companies were moving back to downtown, and commute times were growing. natural progression would have created the west loop, the bubble just moved it along faster.
now the south loop….all bubble baby!
Tandem is not as bad as you guys think. my house has a drive way so in a sense we park tandem everyday. its a very easy thing once you get a nice routine. only time i have ever cursed my “tandem” parking is when its 20 below and i was running late.
Not to split hairs, but is the MPD really considered a part of the West Loop? You go from newer and a pretty nice neighborhood into this nightmare place over a block area and IMO, it should not be considered part of the WL hood.
I have heard numerous times that the WL regent can be credited exclusively to Oprah & Co. long before the bubble started…comments?
i dont think any one can deny Oprah had a part in helping the west loop.
Bob,
First of all I can tell by your post that you are probably at an age where you don’t know many young people whatsoever. Fortunately, I do, and in fact I know quite a few that are successful enough that they could afford a place like this at age ~24-28 if they so chose to. Yeah, the economy sucks, but it’s not like there aren’t people who are doing well.
The truth is, the person I spoke of has choices. Do they want to live where all the young people rent, LP, LV, or further north? Are they willing to accept a longer commute + less sq. ft. for their money if they purchase where most of their friends are renting?
One other thing I’ve noticed through casual observation: i’ve seen many young people willing to sacrifice location for “upgrades” on their units. A lot of people are buying or renting in mediocre areas but are able to enjoy new or almost new construction benefits. I think as people get older they realize the old cliche “location location location” is so very true.
I predict the place goes for 5-10% off listing price.
“Groove77 on September 2nd, 2009 at 7:38 am
Tandem is not as bad as you guys think. my house has a drive way so in a sense we park tandem everyday. its a very easy thing once you get a nice routine. only time i have ever cursed my “tandem” parking is when its 20 below and i was running late.”
Different strokes for different folks. I had a garage with a pad right behind it, and it was constant jockeying of cars back and forth to get cars out or in. I would not do it again.
“Bob on September 1st, 2009 at 10:37 pm
We have one “young finance guy” (maybe single) on here…”
I’m 32. Do I still qualify as a young finance guy?
Tay: In Bob’s world, everyone is broke except him, homedelete, and Westloopeo.
I don’t think the West Loop is going to slide back into oblivion. The proximity to the loop and highways make it ripe for people who want the convenience. I do think they allowed it to get over built though and it will be years before all that inventory is absorbed.
I live one block away from this building. My living room view looks directly at their unit. That said I clearly have a biased and vested interest in seeing it sell at close to asking price.
Forget your tandem parking concerns as street parking is excellent. Until Market and Bon V recently opened we would not have a car parked on our entire street after 6pm. Now it is only crowded on Friday and Saturday nights and not until pretty late. There are no safety issues and the morning truck noise is really concentrated on Fulton if the bedroom faces north I guess that it could be noisy and annoying.
We frequently sleep with our windows open and are quite comfortable with the noise level. It helps that we are on the 5th floor above the sound but quite frankly that el line is not that busy or noisy. Our roof deck always gets rave reviews for the views. The unit should have some pretty amazing views as well. Im shocked that they did not feature this in their listing.
Hope (and believe) that it sells pretty close to asking price.
I agree with the posters who don’t like 1800 SF spread out over three floors. but i think this one may be a bit different because it’s not evenly divided between the three floors. The third level is entirely the master (18 x 13, plus closet and bath) so maybe 400 SF? the 2nd level is the two bedrooms (which are tiny – 8 x 13 and 9 x 13) so maybe another 400 SF. which leaves 900 SF for main level. Guestimates! You would live on the two levels (master and LR/DR/Kit) and the two small beds would be auxilliary – wouldn’t go there much, just for office/guests. Plus, the staircase pictured is a real staircase – not a knee-bruising double-helix.
Tay, I’m sure there are plenty of young people who could afford this condo, however, your mistake is that you assume there are enough well healed young people to afford all the 459k condos for sale. There are’t. Especially in your 24-28 age range. Do not mistake debt for wealth.
23 year old Big 4 accountants make in the 60’s. 25 year old mid-law attorneys make in the 70’s and 80’s. 27 year old doctors are in residency. 23 year old ibankers, during the bubble, make in the 90’s or 100’s plus bonus but many of those jobs have disappeared. 25 year old consultants make in the 70’s. 25 year old big law attorneys make 125-160k, but, there are only 600 of them per year, and in 2010 and 2011 those numbers are expected to be greatly reduced.
Now that I’ve covered some of salaries for professional jobs for 24-28 year old grads..please explain to me how all these youngin’s became so well heeled?
Why hasn’t anyone commented on the assessments. Those are huge for a westloop 3 bed. THe price is realistic, but something will have to be done about those assessments.
The neighborhood is fine. Not the best, not the worst.
And if you have a tandem spot, why not put both sets of keys on your key ring and take whichever one is in back! Simple.
“why not put both sets of keys on your key ring”
Because that sux*? I hate having a big bunch of keys.
*MUCH more than B’town (ha).
Traders. Chicago is a major hub of the futures industry filled with young up and comers making some serious coin.
I work with several, and know several other firms have similar employees.
It’s the reason I didn’t go to law school, (my original plan). This is where a large portion of Chicago’s young wealth comes from.
Kind Regards.
HD:
I think your numbers are a little low…
There may be only 600 fresh out of law school big law attorneys, but you forget about the ones who have been working two or three years who didn’t buy immediately. I did some research a few years back and I believe there were about 7000 biglaw attorneys at all levels in the loop irrc.
You also have the consultants, private equity shops, traders, salesmen, doctors, dentists, bankers, professors, brand managers, communications, advertising, and all kinds of middle management jobs, etc.
Looking at people’s salaries on a daily basis, you would be surprised at what people make. Heck, I just took an app for a 30 year old insurance guy making $100k.
I think you are severely underestimating the number of people in the major neighborhoods who make decent coin.
The tandem parking bashing has spiraled out of control. It wouldn’t be a topic of discussion or a reason why this place isn’t selling if this place had one garage space. I’m sure this place won’t sell because there’s some perfect buyer out there that’s scared of looking like a janitor because there’s an extra car king on the ring. Seriously…
Please only comment negatively on the issue if you have two or more side-by-side enclosed parking spots (and that doesn’t mean that you WANT two or more side-by-side enclosed parking spots…) I have a feeling some of the critics are talking outta school.
Good point about the unequal floor sizes bubbleboi – that could make this place better than most townhomes.
“about 7000 biglaw attorneys at all levels in the loop irrc”
That’s about right, even after this year’s layoffs. But 3000 of them live on the north shore or Hinsdale; and 4000 of them are worried (to varying degrees) about their jobs. But how you count all depends on what you consider “biglaw”.
And, of course, they’re *all* not doing as well as Corboy, Clifford and their peers.
agree with Russ. HD, your numbers are low. And some 25-28 year olds are married, and each make three figures.
six figures.
There are not 7000 biglaw attorneys b/w 24-28 in Chicago. There are 600 per year with considerably less in 2010 and 2011. Russ, your example of the 30 year old salesman making $100k is out of the 24-28 cohort addressed by Tad and my post.
I know people in good neighborhoods make good money: this is America and there is more money here than anywhere else in the world. However, I am not underestimating the number of people who make good coin, especially in the 24-28 age cohort.
It is the developers and overzealous sellers who overestimated the number of 24-28 (and even up to 30) year olds with sustainable $135k+ incomes.
The middle to higher end real estate market is in a depression because everyone drank the kool-aid and overestimated the number of households with sustainable incomes to afford $459k+$35k parking condos in the west loop.
Corboy and Clifford are probably doing OK but the rest of the ambulance chasing industry is hurting. Less people driving, less accidents, smaller insurance policies, fewer deep pockets, reluctant insurance companies, less people working means less worker’s comp claims, less construction and building, smaller claims, lower wages…i’ve heard this from a number of different credible sources.
“And, of course, they’re *all* not doing as well as Corboy, Clifford and their peers.”
HD, why do you assume that the buyer of this place would be young? Typically, I see a well off single person buying a place like this in which they tend to be a little older and they make $125k-$175k OR they tend to be younger but MARRIED and make upwards of $200k between the two of them.
Good job thinking out of the box bubblebuttboi, the main level do look more spacious the the bedroom levels, and would be a sweet set up. still dont like that my guest trot trough my boom boom room to get to the deck/patio/rooftop.
russ,
isnt it amazing seeing what people make? it amazes me and makes me say “Crap i went into the wrong field”
you guys are overestimating these numbers, 25-29 dinks with actual smarts are far and few.
yeah most 25-29 dinks may make 100k-175k but still cant afford this place
I’m not assuming they’re young. Tay assumed that they were young. In his world, he knows plenty households in his cohort could afford a $459k+$35k condo ‘if they chose to’. So therefore, according to him, this will sell within 5-10% of ask. Gotta love that logic.
Russ is more correct for the age group and income level that could afford this condo. However, Russ may be biased because as a broker he’s going see loan apps for people who make enough money to purchase these types of homes. The apps that cannot afford these condos don’t come across his desk.
However, I will admit I am also biased in the other way. I regularly see households that were making $90k-$140k a year during the boom but due to the economy, that income has shrunk by 30% to 50%. no overtime, no bonuses, reduced hours, reduced commission, etc. No one has any expectations that the good times are going to return soon.
The truth is probably somewhere in the middle.
“Corboy and Clifford are probably doing OK but the rest of the ambulance chasing industry is hurting”
But the ambulance chasers aren’t Corboy’s & Clifford’s peers. There are a few dozen top tier folks who will do more-than-fine unless/until there is a total overhaul of tort/med-mal law.
But yeah, the great (great, *vast*) majority of plaintiffs’ lawyers are not among that group.
They’re peers. Corboy and Clifford get a vast majority of their cases as referrals. I’ve seen them speak due to the new MCLE requirements. They freely admit they’ll take the smaller fender bender cases if they need to just to keep their bigger referral sources happy but it’s not like they go out of their way to get smaller cases.
I think HD was responding to earlier posts about young people as potential buyers (and those who were ignoring them). It’s probably safe to say the target demo for this place and neighborhood is approx 25-32.
“LG on September 2nd, 2009 at 9:26 am
And if you have a tandem spot, why not put both sets of keys on your key ring and take whichever one is in back! Simple.”
Cause you might not want to drive your wife’s convertible yellow Beetle? Or cause your wife might not know how to drive a 6-speed manual trans?
“Jon on September 2nd, 2009 at 9:48 am
Please only comment negatively on the issue if you have two or more side-by-side enclosed parking spots (and that doesn’t mean that you WANT two or more side-by-side enclosed parking spots…) I have a feeling some of the critics are talking outta school.”
Please don’t tell me what or what not to comment on.
And yes, I have two side by side spots at my condo, and I’d never buy another property with a tandem parking arrangement. If it works for you, great. *shrug*
“Cause you might not want to drive your wife’s convertible yellow Beetle? Or cause your wife might not know how to drive a 6-speed manual trans?”
First of all, why buy such a fruity car… and second of all, teach your wife how to drive stick!
“It’s probably safe to say the target demo for this place and neighborhood is approx 25-32.”
Actually I think closer to 28-32. Thats the point where you would need to be well enough into your profession to make some coin, typically. And thats a woefully small, targeted demographic.
We’ll see where it sells at. My guess is much more than 10% off list.
And my apologies it doesn’t appear to be the hood, but certainly not as walkable as other neighborhoods.
“Sonies on September 2nd, 2009 at 10:51 am
First of all, why buy such a fruity car… and second of all, teach your wife how to drive stick!”
The Beetle was a hypothetical. Unfortunately, the wife having two left feet is not. I’ll teach her on your car if you’ll lend it to me. =)
There are countless other reasons that you might not want to take your spouse’s car at any given moment though, including cargo room, drivetrain, baby seats, top speed limiter 😛 …
We have a tandem spot. It’s not a big deal for us but I can see that it is a big deal for some. If I need to change cars I just throw her big plastic weird key thing (VW) in my car after I move hers out of the way.
By the way is this crib chatter or has it turned into incomes and salaries debate class?
“Unfortunately, the wife having two left feet is not.”
Well at least you don’t have to worry about her racking up debt from shoe shopping 🙂
“They’re peers.”
They know each other, yes. They are no more peers than King Richie is a peer of your-local-aldercritter. One of them serves the other, yet the kings know they need to keep their subjects from revolting.
Russ:
“Tay: In Bob’s world, everyone is broke except him, homedelete, and Westloopeo”
Kindly explain? Don’t have an idea of what you are talking about?
as an FYI, i wholeheartedly agree that the biggest problem is oversupply and not that there aren’t people making enough money to afford these places. i was merely replying to Bob who was suggesting that nobody has any money.
the reason i believe this place will do better than most in the price range is that it is unique. you’d be hard pressed to find many places quite like it. i’d bet on a place like this over one of the literally hundreds of places close by that all look exactly the same. someone will bite on a place like this.
i also made a point to say a young finance person seems like the right fit here. does anyone here really see a family living in this unit? a retired person/couple? a second home? this places greatest strength is the fact that it is unique but it will also limit the pool of potential buyers, still, I think it’s a net positive.
i’ll be honest that i did not see the assessments until just now. not so hot, for sure.
believe it or not, there are young people who are put together. these “dinks” will be running the country soon enough, so instead of having such a patronizing attitude towards them it might be better for us all to actually try to learn from one another.
homedelete on September 2nd, 2009 at 10:10 am
“I’m not assuming they’re young. Tay assumed that they were young. In his world, he knows plenty households in his cohort could afford a $459k+$35k condo ‘if they chose to’. So therefore, according to him, this will sell within 5-10% of ask. Gotta love that logic.”
right, i actually said that because i know some young people with money that this place will go between 5-10% of ask. seriously? i was responding to the guy bob who was talking like a fool about how nobody has any money.
and by the way, i do know plenty of people who could afford this “if they chose to.” i phrased it that way because believe it or not, most of the ones I am speaking of have been wise enough to rent for the past couple of years.
I don’t think there is a problem of ‘people not having enough money’ to buy this place. There are hundreds of thousands of households who are sitting on a large chunk earned, saved, inherited, result of another sale, excellent credit with a large downpayment, etc.
Most who fall into this category have all but eliminated excessive and unbridled spending. The era of conspicious spending is long past. Of course this fact goes without saying.
Even most my crew, who all own a, if not multiple homes, could swing this easily. While it is true many in Chicago are facing the economic crunch, there are more who are doing just fine and are, like HD, renting until it is clear the RE situation is showing some signs of stabilization.
This ‘fact’ is not the issue here, it is more that it is located in an area that is not at all desirable to those who ARE looking right now. It has only been on the market for around 2 months and has not even had any reductions as of yet. The places that are featured here that have sold recently have had several drastic price reductions.
I cannot remember the exact address of that million dollar + multi floor property that was in this area nearly a year ago. It was absolutely beautifully renovated in a severe modern style but was located on a horrible block just a few blocks from here. Anyone remember that place and if it sold? Sabrina? If I have time today I will browse through the archives to see if I can find the specific place.
I do agree if and when it does sell, it will be someone younger, probably with no kids who has been waiting for the price to reflect the ‘qualities’ of the unit. Older, more established and experienced home owners are not drawn in by this style of living… 3 levels of loft in a sketchy area?
In general I hate speculating on who will buy what so I will stop here…
I think this is the one you’re thinking of, WLELO…
http://cribchatter.com/?p=5369
Looks like it was relisted this month for $100M less. Now at $999M.
hhttp://www.redfin.com/IL/Chicago/1418-W-Fulton-St-60607/home/14102333
WL:
1418 W. Fulton. Still/back on the market for $999k.
Great looking place that I bet would have sold by now if it were next door to this place instead of 3+ blocks west.
WL I seriously think you are overestimating the amount of wealth this younger generation. They don’t have nearly as much as you think; and furthermore, many are overextended, even if they make decent incomes. Don’t forget that many students and professionals have student loans. College tuition has increased at 3x the rate of inflation over the last 20 years. The student loans are our first mortgage. Many of us pay more for health insurance, we have no pensions; we’ve financed life on credit cards, and as a generation, our incomes have generally been flat. Your excuse Younger people have stopped spending because “they have all but eliminated excessive and unbridled spending” is true but the reasons they have eliminated spending is lack of employment, repayment of previously incurred debt, or, lack of access to credit. The days of the stated income super jumbo are gone. If you shut off someone’s credit line or HELOC they will stop spending and you are witnessing that firsthand.