A 4-Bedroom Triplex for $1.025 Million in the Heart of the West Loop: 16 N. May
This 4-bedroom triplex in Block X at 16 N. May in the West Loop came on the market in August 2021.
Built in 1999, Block X is a gated community with large shared, landscaped gardens and award-winning architecture with unique layouts.
It has 99 units and attached parking.
This triplex is “oversized” at 2650 square feet.
It has a bath on every level with a powder room on the main level, a powder room on the second floor and 2 full baths on the third floor.
3 bedrooms are on the third floor, including the primary suite which has an en suite bath with a marble dual vanity.
The 4th bedroom is on the main level and could also be used as a den/office.
The second level has the living room, dining room, kitchen and family room.
The kitchen has white Shaker cabinets, granite counter tops, including a breakfast bar, and stainless steel appliances.
There are two outdoor spaces including a balcony off the family room on the second floor and a main floor, private terrace that faces the landscaped courtyard.
It has central air, washer/dryer in the unit and an attached 2-car heated garage.
This triplex is in a prime West Loop location near supermarkets, shops and restaurants.
Listed at $1.025 million, is a million dollars the new price point for 4-bedrooms in this neighborhood?
Bari Levine at @Properties has the listing. See the pictures here (no floor plan but the 2017 listing has it.)
Unit #512: 4 bedrooms, 3 baths, 2650 square feet, triplex
- Sold in September 1999 for $397,000
- Sold in October 2003 for $515,000
- Sold in December 2012 for $547,500
- Sold in June 2017 for $899,000
- Currently listed at $1.025 million
- Assessments of $638 a month (includes exterior maintenance, security, snow, scavenger)
- Taxes of $17,018
- Central Air
- Washer/dryer in the unit
- 2-car heated attached garage
- Bedroom #1: 16×15 (third floor)
- Bedroom #2: 13×10 (third floor)
- Bedroom #3: 11×11 (third floor)
- Bedroom #4: 12×10 (main floor)
- Family room: 12×20 (second floor)
- Kitchen: 13×9 (second floor)
- Living room: 19×14 (second floor)
- Dining room: 11×10 (second floor)
- Balcony: 10×8 (second floor)
- Terrace: 25×14 (main floor)
If you love narrow spaces this is the home for you
Nice that the include the garage as part of the SF (There’s a floor plan in the history). I think they included the deck as well to get to 2650. This place is more like 2200
Finishes are low end lux apartment quality
HOA fees seem ridiculous.
All of this for $1MM?
What a narrow, generic interior. Built in 1999? Looks like a lot of 1980s generic townhomes I’ve been in. Won an award? For what? Most forgettable townhouse development?
I will say this for it: Whoever lives there now should be commended for reading good books to their young child. I see “Harry the Dirty Dog” on the bookshelf. I loved that one as a kid.
But yeah, $1 mln for this? Needs to be cut about 40% to not be laughable.
“This place is more like 2200”
Checked it twice–100% agree. The main box is 40×17.5, the side box is 20×12, so:
2*[(40×17.5)+(20×12)]+[(40×17.5)-(20×17.5(garage))]=
2*940+350= 2230 gross.
With all the stairs, would live about the same as a ~2000sf simplex unit. (I like stairs, and more separation)
also: someone lives upstairs–I know Sabrina didn’t call it a townhouse, but the realtor did. It is plainly not a TH, and shouldn’t be compared to one.
This one:
https://www.redfin.com/IL/Chicago/460-N-Clinton-St-60654/home/12765969
is technically west loop, but not very much the same hood as the feature, but I would choose 100% over it, as it’s a real townhouse, and you actually get some amenities for your $600/month.
“Needs to be cut about 40% to not be laughable.”
Are you sure you’re actually looking at condos? That’s incredibly out of touch with current psf pricing for similar stuff.
Call the floor $300 psf, plus ~$35k per parking spot, private deck adds maybe $25k–use the real 2200, it’s easily $750k, as a generic place in an average GZ location. The 4th bed (really an office) makes it more desirable, as does the location.
Anything under the $900k ’17 price would constitute a “deal” right now.
$615k (-40% from ask) would be an absolute steal, not the max non-laughable price.
“also: someone lives upstairs–I know Sabrina didn’t call it a townhouse, but the realtor did. It is plainly not a TH, and shouldn’t be compared to one.”
I debated calling it a townhouse anon(tfo) because, as you said, the realtor DID. But I looked around at other units in the complex and their listings and they were called condos so I went with that.
“Won an award? For what? Most forgettable townhouse development?”
Block X won design/architectural awards for its unique build, layouts, and the huge courtyard and landscaping.
It’s not your typical gated community or townhouse development.
Here’s the write-up from Builders Magazine when it won the “Grand Award.”
https://www.builderonline.com/article/grand-award-block-x_o
By Christina B. Farnsworth. Block X sits rather unobtrusively in the long early morning shadow cast by the Sears Tower, Chicago’s tallest landmark. From street side, it is reminiscent of the factories and warehouses that used to make up the fabric of the west inner-city manufacturing area. Architect David Haymes designed the industrial look to camouflage the complex’s secret garden–a 1/3-acre park at the heart of the five-building urban community.
The mixed-housing community answers the area’s thirst for contemporary lifestyle. The development works well within its context in that it doesn’t turn its back on the industrial warehouse neighborhood but rather celebrates the trend of urban housing without being trendy. “The Block X name came from an early site plan that did look like an X,” says Haymes. The plan changed, but the name stuck.
Block X’s two elevator buildings house 100 units and 112 parking spaces. There are also two walk-up buildings, 12 townhomes, and four penthouses. Homes range in size from 750 to 2,340 square feet and in price from $160,000 to $600,000. “Buyers,” says Haymes, “range in age from 22 to 65.”
“is technically west loop, but not very much the same hood as the feature, but I would choose 100% over it, as it’s a real townhouse, and you actually get some amenities for your $600/month.”
I was with you until I looked at the map. This is on the tracks. If it was one of the river facing units it would be very sweet
https://www.zillow.com/homedetails/16-N-May-St-UNIT-511-Chicago-IL-60607/2113167153_zpid/
This unit doesnt have the bumpout, but I would put the value at $600/sf for the additional space.
What IS the definition of a townhouse?
There are some townhouses in this complex, apparently.
Is it just not having someone above you?
wouldn’t
“I was with you until I looked at the map.”
If those two were your only choices, you’re saying you’d take the featured condo, for the $50k difference? LIAR!
“put the value at $600/sf for the additional space”
Gotta assign a value to the deck, and the additional bedroom, too. Not all SF are the same. I think it’s more like $450 (maybe 500) psf for just the extra SF.
“What IS the definition of a townhouse?”
To me, the only requirements are:
private entrance (ie, not into a hallway).
No other residence above or below (over garage, on a podium, etc, is acceptable).
That’s it. Basically, a SFH, but with one or more party walls, in either fee simple or condo ownership.
and PS: $450-500 is still too much for the extra SF; should be ~$400.
But also forgot that corner unit (3-side windows) is a premium, too, and master bath has double sink and shower+tub.
512 is a *way* nicer unit than 511, beyond just SF, and the asks reflect it. They’re both high due to howmuchamonth, general supply and WL hotness.
“If those two were your only choices, you’re saying you’d take the featured condo, for the $50k difference? LIAR!”
I’m probably taking my $1MM and looking elsewhere
Depends on the noise level but if its tolerable I’d def take the one near the river (Personal preference – I put a significant premium to be close to water). Seems like a lot of compromises for spending that type of coin
Ok – maybe I overdid it. Let’s say take 20% off.
Thanks for the award description, Sabrina. Interesting. It does look pleasant from the outside. But the inside is so generic. Maybe other units are better.
There’s this place, that’s under contract and pretty close by, and a true TH:
https://www.redfin.com/IL/Chicago/1300-W-Monroe-St-60607/home/12780682
Claims 3300, really about 2500+garage and roof deck. $1.075m
Not *too* different from the feature–association even has a private park, even with much lower HOA. Easy winner if only $50k more.
Good listing, anon. You’re right. The two properties are like day and night. For $50,000 more, yours is the clear winner.
Reduced to $999.
Still available at $999
Open house this weekend, now asking $950k.