Back to the 2000 Price for this South Loop Loft? 1516 S. Wabash
This 2-bedroom concrete loft at 1516 S. Wabash in the South Loop has been on the market since May 2010.
It has been reduced several times and is now listed $62,000 under the 2006 purchase price (if you include the parking spot.)
It has 2-bedrooms but only 1 bathroom in 1114 square feet.
The loft has concrete ceilings, which are most prized for sound proofing reasons by loft buyers, as well as exposed duct work and hardwood floors.
The kitchen has stainless steel appliances.
There are large windows with views of most of the the South Loop.
The loft also has central air, in-unit washer/dryer and deed parking available.
Will this loft ultimately sell for the 2000 purchase price?
Joseph Held at Re/Max Signature has the listing. See the pictures here.
Unit #606: 2 bedrooms, 1 bath, 1114 square feet
- Sold in February 2000 for $217,500
- Sold in April 2004 for $273,000
- Sold in April 2006 for $310,000
- Originally listed in May 2010 for $275,000
- Reduced several times
- Listed in October 2010 for $219,000 (plus $29,000 for parking)
- Currently still listed at $219,000 (plus $29,000 for parking)
- Assessments of $424 a month (includes cable)
- Taxes of $3580
- Central Air
- In-Unit Washer/Dryer
- FHA approved building
- Bedroom #1: 13×11
- Bedroom 32: 13×11
The lack of a 2nd bathroom, even a powder room is killing this place. Bedrooms that do not have a window are nothing more than oversized den’s. The taxes can be appealed with the help of a Berrios donating law firm, and the unit faces east so the noise from the CTA tracks might not be that bad. Either way, this price will go to the 2000 sale price and maybe even lower.
Agree with Mike Hg’s assessment. This price seems to be close to rental parity.
What would a unit like this rent for in this location? I wouldn’t pay more than $1800/mo. including parking.
The CTA noise kills it. The bedroom is fine with me…don’t need a window if you don’t spend much time there. I’m slightly bothered by the ceiling. The concrete looks dingy in this unit. Might be better off covering the ceiling (not pipes) with drywall. The place would look brighter with a white ceiling (and more modern)…not such a cave.
Sorry to go off topic here, but I need to locate a property that was featured here a while ago and I can’t seem to find it.
It was a unit in, I believe, the Residencs at 900 N Michigan on a higher floor. If not this builidng, it was in the area in one of the pricy buildings. I remember only that a Trader/Banker (?) bought it before the crash and and it went into short sale a few years later. There was quite a discussion on this topic on the thread.
The other thing I recall about the unit was it had a bright yellow high end stove that was a custom, special order from I think….Viking? Sort of an antique looking model, bright yellow and totally did not belong in this unit with it’s other modern appliances and cabinets. THere was also a long discussion on this as well.
Anyone up to helping me locate this featured property or have any clue about it?
Thanks in advance for your help…I know in the past a few of you were able to use your recall talents to help me locate a few properties I was interested in.
Thanks again!!
WLE,
See link I think this is what you are looking for.
http://cribchatter.com/?p=6586
meh, it doesn’t come with a rolls…
http://www.redfin.com/IL/Wheaton/2S580-Orchard-Rd-60189/home/18118166
Looks like 800 N Michigan #5003 went under contract on 12/3/10. It was listed for $1,499,000 with $50k additional for parking.
hah rv i grew up in the house at the end of avalon court across the street a few blocks north of there (before it was developed and was a single 4 acre lot)
Funny – I grew up on the edge of Northside park. It has changed sooooooo much in the last 20 yrs…
Yeah its crazy I hardly recognize the town when I go back. Wheaton does still suck hard even with all the change
“Wheaton does still suck hard even with all the change”
how much sucking can there really be when you have a 25 car garage and a classic rolls out your front door. ‘whaaaaa life sucks in wheaton drinking out of gold water fountains’
*disclosure, groovey has never been in wheaton
When we moved there I described it as the town from footloose. It seemed a lot less glitzy then – but that is likely because I lived north of Roosevelt.
And when I say the town from footloose, let’s review – it was dry for quite a time, dancing was not allowed, just last year I was at the Sport Center and my conversation was interrupted and I was told I needed to accept Jesus by a perfect stranger but not in the crazy way bums typically do in the city. It is hailed as the town with more churches per capita than any other (I have no corroberation here – could be local hyperbole).
Sonies – do you remember the monkey in the Ace hardware?
“how much sucking can there really be when you have a 25 car garage and a classic rolls out your front door. ‘whaaaaa life sucks in wheaton drinking out of gold water fountains’”
that car is ridiculous. who the hell would be caught dead driving around in a used old (but not classic) rolls. It screams “wannabe” and “poser”.
“who the hell would be caught dead driving around in a used old (but not classic) rolls”
Robin leech, or debbie gibson
“how much sucking can there really be ”
Fun Fact: Wheaton has the most churches per square mile than any city in the United States
So yeah, it sucks pretty bad
“Sonies – do you remember the monkey in the Ace hardware?”
LOL oh my god YES!
I had this loser friend who worked in that same ace… i wonder if he’s still there after all those years
One bed loft in a ho-hum area….$150k
its a 2 bed so… 175k
A second bedroom without a window isn’t really a bedroom; it’s a den.
you can put a bed in it right? It has a closet right?
its a bedroom
“that car is ridiculous. who the hell would be caught dead driving around in a used old (but not classic) rolls. It screams “wannabe” and “poser”.”
Clio, you just made my day!
“A second bedroom without a window isn’t really a bedroom; it’s a den.”
really it should be called a Fricken closet! i would like to meet the code maker for this borrowed light thing i a have boot i would like to…
“that car is ridiculous. who the hell would be caught dead driving around in a used old (but not classic) rolls. It screams “wannabe” and “poser”.”
lol that dude is living it up 80’s guy style, just like the Rolls Royce “Silver Spur” it was probably really nice back when his house was architecturally significant. ah metaphors…
Thanks Valasko, that is the thread/unit I was searching for! I knew if I asked, the info would appear.
“you can put a bed in it right? It has a closet right?”
You can put a bed in a kitchen, and it there’s a pantry, there’s a closet, right?
You can put a bed in a foyer and there’s a coat closet, right?
Wheaton’s cool if you are in to churches and women’s soccer.
“You can put a bed in a kitchen, and it there’s a pantry, there’s a closet, right?
You can put a bed in a foyer and there’s a coat closet, right?”
well of course you can (depending on the size of your kitchen), but there isn’t much privacy nor would I call an open kitchen or a foyer a “room”
so mr. technicalities what’s the point of having a window in a bedroom again? usually people spend time in them or sleep when its dark out…
Anon, you took the words out of my mouth.
Sonies, imho, a proper bedroom has a closet, a window, and privacy,and, was built with the intention to have someone sleep in it.
but HD my point was, does it matter if the “window” is on the exterior wall or interior wall… who cares all you’re likely doing is sleeping in it, in fact I would rather prefer my dens have exterior windows in them since I’d actually be using them during the day 🙂