A New Peak Price in Lofthaus? A 2/2 at 321 S. Sangamon in the West Loop
This 2-bedroom in Lofthaus at 321 S. Sangamon in the West Loop came on the market in June 2015.
Lofthaus was built in 2004 and has 70 units.
This is a southwest corner unit with a 125 square foot wrap around balcony.
It has wood floors and concrete ceilings.
The kitchen has stainless steel appliances and granite counter tops with a Grohe faucet.
The listing says it has a $5,000 drapery upgrade.
It has the other features buyers look for including central air, washer/dryer in the unit and garage parking which is $30,000 extra.
Including the parking, the unit is now listed $37,900 above the 2007 housing bubble price.
Are new record high prices a reality in the hot West Loop?
Brian Caron at AMS Realty has the listing. See the pictures here.
Unit #405: 2 bedrooms, 2 baths, 1372 square feet
- Sold in March 2004 for $333,000 (included the parking)
- Sold in June 2007 for $412,000 (included the parking)
- Originally listed in June 2015 for $439,900
- Reduced
- Currently listed at $419,900 plus $30,000 for parking
- Assessments of $452 a month (includes heat and a/c)
- Taxes of $5462
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×11
- Bedroom #2: 11×10
I’m busy today so I’ll do a post on June sales for tomorrow.
Nice place, but “meh” to the window treatments. Who uses drapes anymore? I’m guessing the bare minimum for window treatments in this place was about $5,000, so the cost is not something to highlight.
::in Bill Lumbergh voice::
So yeeeaah if you can just take the drapes with you and discount the price $5k…That’d be greeeaaat….
Proximity to highway & blue line is great if you need that, but I’ve never really considered this area to be true “west loop” even though I know it technically is. It feels more desolate and seedy the closer you get to Van Buren. I would want to be north of Adams and closer to Randolph.
Not sure why the developer switched up the hardwoods in the rooms. Me no likely.
Also the price was lowered $20,000, so it’s no longer listed above peak.
I like the location. It’s only 2 blocks to the dog park.
I’m a Realtor so I can picture the conversation. “We paid a professional designer to do the drapes… they cost $5,000 and are going to be a GREAT SELLING POINT!’ Uh… ya those are really nice I’ll make sure to highlight that in the listing.’ Reality… could have gotten same white drapes at IKEA for $300. Most loft owners don’t want drapes unless it’s on some dramatic 18ft window. But sure, I’ll make sure to let every know so they can all comment how badly you were ripped off at each showing.
http://www.ikea.com/us/en/catalog/categories/departments/living_room/10654/
I’m sorry to hear that you can’t differentiate between $300 IKEA draperies and $5,000 Room and Board custom draperies. You must also think that premium fuel is a waste of money, medicore elementary schools are ‘just fine’ and Buca di Bebbo is great italian food because they give large portion sizes.
I know I’m being snarky but calling $5,000 draperies a rip off and thinking that IKEA is an equivalent substitute is just begging for a response!
his point was that ‘drapes’ are not an equity investment you are going to see any return on
and he’s probably right…. blinds on the other hand
“his point was that ‘drapes’ are not an equity investment you are going to see any return on”
I read the post a little differently, but that’s another plausible explanation. beckola may have meant both.
“I know I’m being snarky but calling $5,000 draperies a rip off and thinking that IKEA is an equivalent substitute is just begging for a response!”
HD, did you put in some “nice” drapes recently?
“blinds on the other hand”
sonies, did you put in some “nice” blinds recently?
“Also the price was lowered $20,000, so it’s no longer listed above peak.”
Weeeeellll, it’s still $429,900 with the parking space. Of course, my view is that they are signposting that they’d throw in the parking to make the deal.
‘[drapes/blinds/whatever]’
I still prefer kraft paper or black garbage bags. Gives it a true ‘industrial’ aesthetic.
The ” 42″ maple cabinets, granite, hardwood floors” is so 2004. I wonder what % of buyers do not know what’s truly “in” or “out”?
“HD, did you put in some “nice” drapes recently?”
Actually, we looked into it but given the price ($$$$) and the fact that we already had draperies, we decided to keep the custom but vintage drapes we already have.
“I still prefer kraft paper or black garbage bags. Gives it a true ‘industrial’ aesthetic.”
Jesus, anon(tfo), everyone knows tin foil is the best! It keeps out the electromagnetism.
Any sort of quality window treatment for a place with this many windows is going to cost well over $5,000. Talking about $5,000 in a window treatment is basically saying that you spent over the Ikea bare minimum.
“everyone knows tin foil is the best”
I’m not Bobbo. I’m not worried about black helicopters. I just want to project a perfectly crafted image of IDGAF.
Except about wood burning fireplaces. Can’t enter anyplace that ever had one–or candles, for that matter. And don’t get me started on gluten-related contact allergies.
” Talking about $5,000 in a window treatment is basically saying that you spent over the Ikea bare minimum”
Just the curtain and rods, if Ikea and not the cheapest they have, would be almost $1,000 for how many windows they have.
Sorry all. Didn’t mean to open a big can of worms on the whole drapes thing. There’s been a lot of responses to my comment so rather than speak to each one I’ll just summarize and try to hit all points. It’s not like I don’t appreciate the quality of a good drape. In the correct home they can make a huge difference. In my opinion this condo is not a drape condo and that most people wouldn’t want drapes at all in here. So the quality is probably not going to mean anything to prospective buyers who will want to remove and put up some cool roller or cellular blinds. If I’m correct than the quality of IKEA blinds I mentioned won’t make a difference either. However using the link provided I see their mid grade white set is $29.99. Looks like they’d need 10 panels so that’s $150. Add another $150 for their basic rods and I think my $300 was not too far off target. Again, not trying to stir the pot. Just saying that putting $5k worth of drapes in a soft loft is akin to putting a Wolf Stove and SubZero Fridge in a $150k studio and asking $20k over market due to the ‘great upgrade’.
“sonies, did you put in some “nice” blinds recently?”
no but probably will be soon 🙂
“The ” 42? maple cabinets, granite, hardwood floors” is so 2004. I wonder what % of buyers do not know what’s truly “in” or “out”?”
Actually- this is only kind of true. The cabinets are now white, not maple or cherry. Counter tops have more variety now with many going for quartz or even wood. And hardwood floors are definitely still in. They have gotten darker (the walnut floors) but that is now on its way out.
You can solve the problem of the maple cabinets easily- simply by painting them white.
Drapes and/or blinds are a HUGE deal when buying. And yes- IKEA drapes, or blinds, are simply not the same thing. Custom window treatments are insanely expensive. I know someone who spent $7000 when they moved into a new construction River North condo to have all the windows done. You really can tell when they are cheap. And the space is unfinished unless you have some kind of window treatments.
This is when I lament Chicago interior design. For the most part, in the $250k to $500k range, our interior design skills are horrible. They really lack compared to our contemporaries in that same price range in NYC or San Francisco. Can’t people paint a little? Can’t they put up drapes? It makes such a HUGE difference.
But it IS expensive. Even just painting a smallish condo can be $2,000+.
If the window treatments are there, it’s another thing you don’t have to spend money on. I would definitely put it in the listing.
Nice pad.
The drapes are an issue but not a deal breaker. And that was likely 5k spent 12 years ago so not that noteworthy. If they recently spent that 5k it would have been better allocated to more contemporary lighting and some paint. Or to stage the place as it looks very empty and does not show well.
The area is decent as Mary B. Park is only a block away. Walking to many restaurants is easy. But it is still just a a bit outside most people’s desired area for ideal spot in the West a loop. Hence the pricing drop and struggle to sell.
“And hardwood floors are definitely still in. ”
Hardwood floors are the standard; carpet was merely a 60’s-80’s phase whose time has long passed. Virtually everyone I know who does any rehab work is ripping out carpet and either installing or refinishing hardwoods. Personally I’d take laminates over carpet any day and I hate laminates.
I agree with beckola. A place like this with all the floor to ceiling glass calls for a quality roller shade. Perhaps they were trying to soften the look of all the concrete with drapes but it just doesn’t look good.
“They have gotten darker (the walnut floors) but that is now on its way out”
Brazilian Walnut is not Walnut
Mecco shades aren’t that expensive and look good in a loft
Shades aren’t cheap either. I think we paid over 2K for our one BR back in 2009.
I agree that shades look much better in this space.
N this space the shades become a bit of a problem. Still like the look and we actually installed expensive ones in our new place with walls of glass. They look awesome but we chose to not to install them on the north side of the home where we had two huge sliding glass doors.
JP3… I also have two huge (8×8) sliding glass doors and have just started looking into blind options. Would rather not go with vertical if possible so have been looking at 8 foot rollers but most I’ve found off the shelf are for outdoor so may end up going vertical. What did you all decide on for yours?
Carpet was a 60s – 80s thing? Uh, no! Until very recently carpet was the mark of a “good” home. Bare floors were for the lower classes; poor folks, cannot afford nice coverings for their floors, what a pity!
Also, carpet is “warm” in both the literal sense (so nice to dig your chilly tootsies in a plush floor covering in winter!) And figurative sense (elegant, welcoming and comfortable for your house guests).
Bare floors, on the other hand, were regarded as “cold and hard.” And they are! Poor toddlers, learning to walk and falling on an unforgiving hardwood floor instead of a soothing carpet! And tired-from-work grownup feet who can find no comfort in their own homesurface.
Nope, call me “retro,” but my living room and bedroom surfaces will stay carpeted!