A 2-Bedroom Brick and Timber Loft with an Office in Lincoln Park: 1872 N. Clybourn
This 2-bedroom loft in the Clybourn Lofts at 1872 N. Clybourn in West Lincoln Park came on the market in March 2022.
The Clybourn Lofts was a 1980s loft conversion and has 57 units and outdoor, deeded, gated parking.
One old listing said the building used to be an old piano factory.
The building has bike storage, a courtyard garden, a common rooftop deck and a laundry room.
This loft has tall timber ceilings and exposed brick along with industrial windows.
The kitchen is open to the living room and has wood cabinets, stainless steel appliances, quartizite countertops and an island.
The listing says the second bedroom is being used as a dining room but it could be converted back.
The primary bedroom does not have a door nor full walls but the listing says it can fit a king bed. It has an en suite full bath with a walk-in-shower and a professionally organized walk-in-closet.
The loft also has a unique 7×7 office with a window and exposed brick.
This loft has private outdoor space with a private patio off the primary bedroom.
This unit has the features buyers look for including central air, washer/dryer in the unit and a reserved secure parking space.
This building is near Trader Joe’s, Whole Foods, Mariano’s and New City shops and restaurants as well as all the shops at North and Clybourn and on Armitage.
The listing says it’s in the Oscar Meyer Elementary school district and near the Red, Brown and Purple subway lines.
Listed at $475,000, with that dedicated office space, does that make this loft the ideal work-from-home home?
Daniel Close at Redfin has the listing. See the pictures and floor plan here.
Or see it in person at the Open House on Saturday, March 5 from 11 AM to 1 PM.
Unit #505: 2 bedrooms, 1.5 baths, no square footage listed, loft
- Sold in May 1997 for $212,500
- Sold in May 2000 for $277,000
- Sold in March 2003 for $315,000
- Sold in July 2010 for $330,000
- Sold in December 2015 for $379,000
- Currently listed at $475,000 (includes reserved parking space)
- Assessments of $643 a month (includes exterior maintenance, snow removal)
- Taxes of $8406
- Central Air
- Washer/dryer in the unit
- Fireplace
- Bedroom #1: 16×13
- Bedroom #2: 15×12
- Living/dining room: 18×14
- Kitchen: 18×11
- Office: 7×7
- Walk-in-closet: 6×9
“used to be an old piano factory”
When was there a market for newly built old pianos?
How are they calling this a 2 bed? And if you had a roommate/guest, the shower situation super sucks.
Very nice as a 1 bed, laundry situation would need work.
Still, should sell v quickly, given the other listing in the building is contingent at $475, and also not a 2 bedroom, and only has one bath.
even as a 2br, the layout just doesn’t work. no tub so bathing a child is problematic. if you had a guest stay over, having them shower in the primary bathroom is an issue as well. this place works as it’s currently set up. nice unit for someone single or couple with no children.
“laundry situation would need work.”
the hook-up is there in the closet but no machines. wonder why there aren’t any.
Cool (one bedroom) pad. Powder room is key.
Here’s the link to the contingent one:
https://www.redfin.com/IL/Chicago/1872-N-Clybourn-Ave-60614/unit-204/home/177803956
“the hook-up is there in the closet but no machines. wonder why there aren’t any.”
Area is carpeted, which ain’t great, and there is no vent for a dryer, and apparently a single outlet. Would work pretty well for a combo condensing unit, and I would 100% install one, even with the performance limitations.
Also, maybe I’m picky, but if I have laundry in my main walk-in closet, I’d want a more look than just the machine sitting on the floor.
“a more *finished* look”
“Area is carpeted, which ain’t great, and there is no vent for a dryer, and apparently a single outlet. Would work pretty well for a combo condensing unit, and I would 100% install one, even with the performance limitations.”
Without a dryer vent, everything in the closet would have a nice musty scent
Nice 1BR, LOL at 2Br
Deck accessed thru the Br
Price seems rich for what is it – $100k down & $3400/mo?
Asking a TJ premium or bet on Lincoln Yards?
“Would work pretty well for a combo condensing unit, and I would 100% install one, even with the performance limitations.”
In my condo I had a Miele heat pump dryer (plus the separate washing machine) and was really happy with the pair. I wanted to get the same set for my house, but I let the Abt salesperson talk me out of it and get an LG instead, but I miss my Miele pair. A heat pump dryer is definitely a viable solution if you don’t have a dryer vent.
“Price seems rich for what is it – $100k down & $3400/mo?”
Welcome to the Chicago housing market circa 2022. This isn’t 2012 any longer. Prices have gone up on both rentals and for purchase properties.
I’m sure in 2003 someone was out there saying, “I can’t believe someone is paying $315,000 for this.”
“Cool (one bedroom) pad. Powder room is key.”
Agreed anonny. Powder room definitely helps a 1-bedroom.
I love all the exposed brick and the office niche. That’s really great workable space.
“When was there a market for newly built old pianos?”
My piano was built in Michigan in 1895. Biggest market was after Civil War and before the radio/tv. Middle class bought pianos in DROVES. They were mass marketed and a “must own” item.
Now, you can’t even sell one. Too many people have family pianos from that prior period which have been passed down. But they aren’t Steinways. Even churches and schools won’t take them. All you can do is have the junk guys recycle them now.
“My piano was built in Michigan in 1895”
But was it a new piano, or an old piano? I’m not familiar with the factories that built old pianos, but I guess someone claimed this was one.
I gthooi, and it appears that, in the 20s, the building housed a wood finishes manufacturer (James B Day & Co): https://www.ebay.com/itm/223651962605
Appears they moved to Carpentersville at some point.
So, they probably sold lacquer to people who owned old pianos. Close enough.
“But was it a new piano, or an old piano? I’m not familiar with the factories that built old pianos, but I guess someone claimed this was one.”
I think what they meant by “used to be an old piano factory” is that the building was previously a piano factory or at one time it was a factory that made pianos.
Not a two bedroom.
Steinway has a showroom a block north of here in Clybourn.
Kind of like an old auto dealership. An old GE factory. An old printing and engraving building.
It’s a figure of speech anon(tfo).
But you knew that and just decided to be a jerk anyway.
“Welcome to the Chicago housing market circa 2022. This isn’t 2012 any longer. Prices have gone up on both rentals and for purchase properties.”
FOMO – This is what kills any chance at wealth accumulation
“I’m sure in 2003 someone was out there saying, “I can’t believe someone is paying $315,000 for this.””
I’m sure in 2008-09 someone was out there saying “I was a complete moron buying this turd $315k. Best case if I can sell, is I need to bring $75k to the closing. Better call Mommy & Daddy to bail me out. I should just let it go into foreclosure”
I recall doing a mortgage for a guy who bought a house for $1.7 in Silicon Valley 7 or 8 years ago thinking to myself I’d never pay that for a house (literally looks like a typical $400k house you’d see in Skokie off Golf Rd). House is easily worth $3 million now.
On the other hand, I know folks here in Chicago who would be happy to sell at what they paid 15 years ago…. a ton of wealth lost.
“I’m sure in 2008-09 someone was out there saying “I was a complete moron buying this turd $315k.””
This is what all the old people don’t get. Housing is just…housing. Unless you get a speculative bubble, like we did in 2005-2008. Prior to that, people are buying because
1) they are tired of paying rent and want to build equity and “own”
2) rents are going up faster so it’s cheaper to buy
3) the housing they want to buy is nicer than the rentals (common in 2000-2008 period)
I’m talking about people buying to live in it, not investors. Those have always been two different animals.
In Chicago in 2003, it made more sense to buy versus rent. The condos were SO much nicer than the rentals.
In 2022, the condos are SO much cheaper than renting, and rents continue to go up, that Millennials, who mostly don’t have ANY recollection of the housing bubble, are looking around and asking, “why am I paying $5,000 a month for 1060 square feet when I can pay $4500 a month for 1500 square feet and actually OWN it?”
If they believe they’re going to be there for a number of years (5 to 10 would be preferred) then it makes sense for many of them to buy in the Chicago market.
Housing is simply shelter for most. But when your landlord is coming back at you with big rental price increases, you just get annoyed and think, “why not just buy?” Then you don’t have to deal with that.
In their minds, any increase in property taxes will not be as bad as what is happening with rental price increases.
“1) they are tired of paying rent and want to build equity and “own”
2) rents are going up faster so it’s cheaper to buy
3) the housing they want to buy is nicer than the rentals (common in 2000-2008 period)”
1) I guess one could look at negative equity as building. You’d have to be a moron but…
2) There needs to be a time frame, rates, transactional costs and being able to exit (Things you ignore because it doesnt fit your narrative)
3) LOL What was it like in the 60’s Granny?
“I’m talking about people buying to live in it, not investors. Those have always been two different animals.”
Unless you are a HNW individual (real – not your dumb definition), its an asset. I dont know a single person that owns a home that wants to see the value depreciate. Maybe you hang out with a less intelligent crowd that doesnt care
cars have been a better investment than Chicago real estate… think about that for a second lol
“Housing is simply shelter for most. But when your landlord is coming back at you with big rental price increases, you just get annoyed and think, “why not just buy?” Then you don’t have to deal with that.
In their minds, any increase in property taxes will not be as bad as what is happening with rental price increases.”
Anecdotally, rent increases look a bit mixed. If you moved and subsequently budgeted based on covid special rents of 2+ months free than yeah you are in for a rude awakening but if you were budgeting based on gross rents (at least where i’m at) they don’t seem that big.
Obviously declined my renewal as I purchased but was curious to see what the number would be. Net adjusted rent increase on a 2 bedroom was 24% but on a gross basis since most assume free rent wouldn’t be renewed increase was 3.4%. Now this doesn’t include the utility package increase which went up 16.7% or $20 (nat gas I assume) but you pay that regardless.
I have heard from friends that people in their buildings were receiving $800 monthly increases on one bedrooms but again not sure if that is based on their net or gross rent last year. These were also one bedroom units whereas I’m in a two bedroom. I wonder if the one bedroom/studios are seeing higher increases than 2+ bedrooms. I checked on the prices in the building I lived in pre-covid/beginning of covid there website was listing one bedrooms 8.5% higher granted these could have been slightly larger units on a sq. basis and/or higher up with better. I lived there two years ago so even if it is up 8.5% higher it isn’t crazy.
Will be interested to see how $4.00 – $4.50 (depending on where you live) and soon to be $4.50 – $5.00 per gallon gas impacts rental prices. Lot’s of people have vehicles regardless of what apartment building/neighborhood they live in. Even if they don’t they are feeling it in food prices. Student loan repayments are supposed to (we will see if it’s extended again) get turned back on May 1 as well. Interest rates increasing too.
Not sure yet how all of this plays out economically as there’s alot of if’s. Reassessment increases don’t effect property tax bills until the fall. Will be interesting to see how all this plays out over the next year economically as well as in the local real-estate/rental markets.
“cars have been a better investment than Chicago real estate… think about that for a second lol”
Depends on when you bought. And where.
Same with a car.
“I’m talking about people buying to live in it, not investors. Those have always been two different animals.”
Clearly the people on this blog have never watched a single episode of any show on HGTV.
Lol.