An Authentic Loft Has No Walls: 720 S. Dearborn
The original loft conversions were just open spaces with high ceilings and great light. That is because lofts were first occupied in most cities by artists who benefited from the light and the open space. It was only later that walls were added into the mix, destroying the natural spacious feel of most lofts.
But the original loft conversions in the 1980s and 1990s in Chicago kept the open space concept.
There is a loft on the market in Printers Row at 720 S. Dearborn that reflects the authentic feel of a “real” loft.
Unit #703: 2 bedrooms, 1.5 baths, 1700 square feet
The listing describes it as:
Spacious, open, light filled, exceptional & luxurious describe this $100,000 newly rehabbed loft in historic Printers Row. Unique designer kitchen w/Snaidero cabinets, Sub-Zero refrig/freezer drawers, Miele & Gaggenau appliances. Elegant master bath w/18th century wood carved cabinet, separate shower, tub. Walk-in 7×10 closet w/Elfa shelving & marble floor. Exposed brick. Great location. Easy to add walls. Pkg avail.
How many people will add the walls? Many buyers don’t like the open living concept.
- Currently listed for $475,000
- I don’t believe there are washer/dryers in the unit in this building (anyone?)
- Assessments of $841 a month
Kay Garvey and Karen Mason at Rubloff have the listing.
According to DreamTown, sold for $327,500 recently…
SUCH a cool loft.
Nevermind: by “recently” DreamTown meant “2004.” Still, it’s no longer for sale… I wonder what it went for? (It claims to have a “utility room” with W/D.)
Kenworthey, Unit never sold since it was last listed with Rubloff. Dreamtown is good website but its not accurate nor reliable when it comes to past sales. Listing expired 02/06.08.
Maybe we’ll see it come back on the market again shortly.
I think a lot of the Printers Row lofts I highlighted last year haven’t sold. Many were simply removed from the market. The over $400,000 price range without a parking space is a hard sell.
Do you know what you call a spacious loft with no walls? A large studio apartment.
The number of artists that can afford a 500k place and want no walls is probably a small number.
I don’t think that’s its ONLY market… I’m not an artist, but I’d love a huge, huge true loft with no walls. But no, I wouldn’t pay $500K for it. If parking came with it, I’d pay $325 for this.
I’ve worked with many clients before and not one has been interested in this kind of open concept living. I Love it for myself but I haven’t found a client for it!
Well, SR, when you spot such a place at around 2002 prices (with parking and W/D in unit) you give me a buzz. 😉
Kenworthey- I used to own such a loft also in Printers Row. I loved the open concept (as it had no walls for the bedroom.) When I went to sell it- other people hated it. It took FOREVER for me to sell (plus numerous price reductions.)
People want somewhere to hang their plasma tv in the bedroom.
But it’s very unique and very NY in feel.
I agree that the prices have just risen too high for what it is (especially in this market.)
Interesting Sabrina. When did you sell and did you make money?
Really? Huh. OK, 225K then–if it has parking. If the owner is reading this, I’ll buy it! 🙂
Hey, opinions on the best mls search engine? Amazing how hard it is to find a good one… all seem to be deficient in one way or another, in the flexibility of the sorting, listing, displaying, etc.
Get an agent
Oh come on…
Don’t worry, the realtors’ monopoly of the mls will disappear shortly. I mean, its not like they can really claim that it takes a professional to access. Certainly, the last few years should remove any doubt once and for all that there is no safeguard by allowing used home salespeple to be the overseers.
For now, informed buyers can utilize someone like buysiderealty.com
FYI. Only a hand full of building’s in Printer’s Row have deeded parking spots attached to the building. Parking is a big issue don’t get me wrong but believe it or not some people can manage with out a deeded parking spot in this city. There is parking options all over the neighborhood. These units generally have longer market times even in stronger markets but will always be a unique product for a unique person.
Another issue among newer construction is Space/Location/Character. Builders simply don’t convert footprints like this anymore. It can be challenging to put up walls or dividers because if not done right it can destroy the integrity of the unit. This must be done with great caution. Today a builder would take a 1000 square foot space and convert it into a 2 bedroom leaving a buyer with very small bedrooms. 10-15 years ago builders would convert these units into 1 great space leaving the option to have a very large bedroom.
Location, there are literally no buildings in Printers Row being converted right now. Yes, New Construction is going up in the area like Printers Corner or Library Tower but no builder could replicate anything built 100 years ago. No unit in Library Tower could match the character or feel you get when you walk into a building like 711/720 Dearborn or 531 Plymouth.
Printers Row is unique because of Location. To me it’s not really comparable to anything in the South Loop and is not considered the South Loop because of Location. It is blocks (walking distance) from the Sears Tower, LOOP, Theater District and Shopping on State/ Michigan Ave…There are only 5 Buildings I would even consider a “True Hard Loft” in the Printer Row neighborhood…
Which are those five buildings, cityagent?
Not sure what the official definition of Printer’s Row is but there are several high-rises going up in that area (N of Roosevelt). 700 block of South Wells has Vetro and 711 S Wells has Burnham. Not to mention an already built tower in the 700 block of S Wells.
I think there is going to be nothing but significantly more inventory in the area immediately around PR in the next 2-3 years.
****Hey, opinions on the best mls search engine? Amazing how hard it is to find a good one… all seem to be deficient in one way or another, in the flexibility of the sorting, listing, displaying, etc.***
As you said, most publicly available MLS websites are deficient in some way. I use a combination of the following…
buysiderealty.com
ziprealty.com (as it lists MLS pricing history)
Jameson.com (for the street coordinate search function)
For historical price info…. Lexis-Nexis, rubloff.com blockshopper.com
If MLS was not proprietary, Google could easily revolutionize searching if it wanted to. Sigh.
Finally….as you’ve probably experienced, realtor.com (along with MLS from many of the large realty companies) sucks elephant testicles.
Good luck.
Old Printers Row is considered Plymouth & Dearborn on E/W from Jackson up to Polk street N/S (Dearborn Station…)
You could state the new boundaries for a New Printers Row is considered Wells on the West, Plymouth on the East, Polk Street South & Jackson on the North.
Yes, many new buildings to pick from but few that capture the character of True Lofts we’ve been trying to talk about… Vetro, Burnham Pointe, Roosevelt Square, 701 Wells Tower with newer conversions like 161 Harrison and Printers Square (740 Federal.) To me these are nothing more than soft lofts or newer “cookie cutter” construction that your seeing all over the city.
Sorry, Old Printers Row Included Federal as well…
Kenworthey: 523 S. Plymouth and 531 S. Plymouth have parking. But it varies by unit (not enough parking for every unit, if I recall correctly.)
621 S. Plymouth has the parking but w/d on every floor (not in the units.)
Some people in the Donohue Building at 710 and 711 S. Dearborn doesn’t have parking, but some owners have bought a space at 801 S. Plymouth (on the corner), which does have deeded parking available for $50k.
Harrison Street Lofts at 547 S. Clark has some parking available (and W/D) but these are more soft lofts. A lot of the original features have been stripped out.
1020 S. Wabash, one of the Loftminium World conversion buildings that American Invsco converted around 2000-2001, has w/d and parking- it is not technically Printers Row- but it has some neat authentic lofts as well. The ones facing wabash on the east aren’t too bad (the west facing are right on the El.)
Thanks, Sabrina and I try! 🙂
There is a 1250 sq ft unit in the building, 1.5bath, all 1 giant room, reduced to 349K. It is totally remodeled and has the washer/dryer. Market time 377 days, reduced from 429K
Yeah, I saw that one, SR–thanks! It’s unit 603. The only unit in the building for sale. I’m now more wary, though, given what all of you have said about resales. I think I’d pay in the $350 neighborhood for the 1700 sq ft #703 (though even that is really too high if it really is that hard to resell, esp. given no parking)–but def. not for the 1250 sq ft #603. Love the #603 bathroom; am interested to see what K and bath of #703 look like, if it comes back on the market.
720 S. Dearborn is in my “alert” box. 🙂
Kenworthey –
I’ve found urbanrealestate.com to have the most up-to-date search – almost never call about a place that is already off the market. Buyside gives you more info, but you can only request so many disclosures.