Another foreclosure at 212 W. Washington in the Loop
Just because a property is in foreclosure, that doesn’t necessarily make it a “deal.”
Another foreclosure has popped up in City Center Club at 212 W. Washington in the Loop. This two bedroom is the cheapest in the building (with the parking included.)
Unit #1902: 2 bedrooms, 2 baths, 950 square feet
- Sold in October 2002 for $270,000
- Currently listed for $319,900 – includes the parking space
- Assessments of $469 a month
There are only a few pictures, but it’s likely neither bedroom has windows.
Sold “as-is.”
Is this a deal?
Re/Max Market has the listing.
Such a deal!!
Stratospheric heat bills, complaints about construction quality, and small, sqeezy spaces- what more could you want than this?
I personally predict that as oil continues northward from its current $100/barrel record price, and natural gas supplies continue down the slope of depletion (and our domestic gas supplies have been in depletion for years) that lofts in general will become EXTREMELY unpopular.
I’m hearing of $800 heat bills for small units in Printer’s Row buildings. Let’s face it, loft living really isn’t suitable or comfortable for most people, and I believe that this fad will have completely run its course by the time this housing bust totally plays itself out.
These types of places will have to be completed renovated for comfort and livability, including really good insulation, to be viable into the future.
I like lofts, but Laura is right about the heat. That place looks tiny. I just think it is insane that anyone would have paid that much. Really, I think maybe for $100-$150. But who am I?
On the other hand, it is right accross the street from my office!
I’m not the owner of this unit, but as you can see from my “name” that I live in the same building. I had myself discussed concerns about selling my unit on this blog back when I was unemployed. I’ve decided to hold on to see what happens in the next year or two. Thankfully I found a job that paid enough for the meantime.
That being said…I’ve never been cold and broke. The heat is included in the association fee for this building, so I’ve never had to worry about a catastrophic heating bill. No major bill isses and the condo fee is comparable to every other building.
The #02 units are only 914 sq ft and no, the bedrooms do not have windows. It is a two bedroom, two bath unit, however. I wasn’t sure if anyone was considering that. The unit also looks over Washington, not the garage.
Okay, that being said…does that change anyone’s opinion about the selling price? Especially when you compare it to the others that are also for sale in this building?
Just trying to keep track of the numbers here…
It depends on the loft building (in terms of heating bills.)
I’ve lived in some brick loft buildings that were well insulated and only had $50 natural gas bills on the coldest months.
But it depends on the building.
212 Owner, what are your association fees, for how much space?
It works out better for the owners to get their heat bundled in the association fee, but one way or the other, you will end up paying mucho extra for a building that’s difficult to heat.
At least, though, you don’t have your own electric furnace to feed, like some folks in Printer’s Row bldgs?
My association fee is a little under $400 for the unit. I only have a 2 bedroom, 1 bath so my place is only 823sq ft. That also includes A/C, basic cable, doorman, blah, blah…I pay for the electricity to run my heating/cooling unit, but that’s never been more than $50 a month.
I’m guessing you have/had a high heating bill in a loft? I don’t understand why else you feel so negative about this topic. 212 isn’t a new building…it’s built the old way, with concrete/brick. I know that a lot of condos were built quickly (and probably cheaply) during the housing boom…that may account for some people having heating problems now.