Big West Loop Loft Finally Sells After Several Years on the Market: 14 N. Peoria
We last chattered about this nearly 2000 square foot 2-bedroom authentic loft in the Hale Lofts at 14 N. Peoria in the West Loop in December 2009.
See our prior chatter and pictures here.
Originally listed in July 2007, it was then on and off the market for nearly 3 years.
It has finally closed for $1,000 over the December 2009 asking price.
If you recall, it had an extremely unique stainless steel kitchen and modern bathrooms.
Randi Fine Katz at Koenig & Strey Real Living had the listing.
Unit #6G: 2 bedrooms, 2 baths, 1896 square feet
- Sold in April 2001 for $381,000
- First listed for sale in June 2007
- Re-listed in July 2008 for $595,000
- Reduced several times
- Re-listed in December 2009 at $508,000 (one parking space included- second available for extra)
- Sold in May 2010 for $509,000
- Assessments of $382 a month
- Taxes of $4860
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 24×12
- Bedroom #2: 15×15
How did I manage to miss this featured prop? Or does my short term memory fail me and I commented on this already?
I really love the cabinets…wonder if they are real SS/Polished Aluminum or simply sheets attached to existing doors?
I have seen similar cabinets in several NY condos/lofts and they are very impressive and unique. And I am sure very high maintenance. Keeping fingerprints and smears off my appliances is hard enough…can’t imagine having to constantly polish these.
Oh yeah, the ‘see the pics and prior chatter “here” button is not working.
http://cribchatter.com/?p=7894
Thanks Peter, much appreciated!!
The listing shows this as kewaunee cabinets which means they are stainless steelthrough and through. No sheets. They cabinets were also lacquered (as they do on commercial properties) so that it likely does not fingerprint, but if it did, a damp rag is all you need to clean it. kick ass stuff.
Nice.
I think that the buyer got a pretty cool space for a reasonable price. I’m assuming that the second spot was included which is implied by the over asking price sale. When was the last time an agent had a bidding war on a three year old listing?
Congrats to the seller for sticking it out and waiting for the buyer that appreciated the design and finishes.
The Westloop may indeed be out of the “green zone” but there are still individuals that appreciate some of the great features of this cool neighborhood.
nice place…definitely a pretty good price if the second spot was thrown in especially.
not enough stainless in the kitchen though for my liking.
OT: If something has a lis pendens from Dec 2008, does that strongly suggest it’s a short sale (it doesn’t say in listing)? Or you can’t really tell?
“OT: If something has a lis pendens from Dec 2008, does that strongly suggest it’s a short sale (it doesn’t say in listing)? Or you can’t really tell?”
It doesn’t necessarily mean a short sale. You have to look at the mortgages on the property to really determine the situation.
“It doesn’t necessarily mean a short sale. You have to look at the mortgages on the property to really determine the situation.”
Sorry, I had my terminology wrong. I meant whether it’s bank-owned, not whether it’s a short sale. Would I necessarily see something in CCRD after the lis pendens if there’s a foreclosure (recognizing it takes time to get things entered in CCRD)?
Good deal I really like this place and for 500k isn’t super outrageously priced.
Neighborhood is good and the property has everything i’d want including modern finishes but doesn’t have an outdoor space which isn’t a dealbreaker for me.
this place has anon-tfo’s dream kitchen
Wow! It’s rare to hear people here thinking that something is not overpriced.
I’ve actually shown this unit several times and even had an offer on it – for less money that was turned down. Frankly, I’m really surprised they got what they were asking. Here’s the deal. Really cool space – no doubt. And if I remember the view was really nice. But it’s an awkward 2 bedroom. More like a really cool one bedroom. In the first photo above you are looking into the 2nd bedroom at the end, which is separated by glass from the rest of the living space. They were using it as a living room and it has all the windows for the main living area. If you close that off and use it as a bedroom your main living area has no windows. On a cost per sq ft basis, even adjusting for the nice finishes, we thought it was overpriced.
Interestingly, I don’t know what to make of the parking. The listing indicates that it was not sold with the additional parking space but that could be an error.
“Would I necessarily see something in CCRD after the lis pendens if there’s a foreclosure (recognizing it takes time to get things entered in CCRD)?”
Yes, but. For it to be REO, there would need to be a deed. But it is possible that there is a deed, but not recorded yet. Would be not-normal-practice, but also not unheard of.
Redfin still has more pics up:
http://www.redfin.com/IL/Chicago/14-N-Peoria-St-60607/unit-6G/home/12751326
Very cool place, but the way Gary describes it does make it a little awkward if you really need 2 proper bedrooms.
I just emailed the listing agent. The second spot was included but even with that we thought it was too high.
FWIW, the place was rented out last year and came off lease in the fall.
“Very cool place, but the way Gary describes it does make it a little awkward if you really need 2 proper bedrooms”
But remember its a LOFT and insanely easy or relatively easy to reconfigure the layout (sans bathroom/kitchen) and even make it a 3BR 2bath.
In most lofts your exterior walls are structural and the rest is….crap cant think of the technical term but… decorative wall.
Goove
Based on the limited photos it looks like this unit has almost no windows, so I would think it would be difficult to add real bedrooms. Nice finishes here but bad bones imho.
“this place has anon-tfo’s dream kitchen”
haha.
Still, everyone rags on SS appliances, but no one has a reasonable “what’s next” suggestion. I can get behind cabinet front, but don’t see it becoming a genuinely accessible (for your mid-range sort of home) option, and it leaves open the question of oven/range color.
Clear appliances will be the next big rage
“Based on the limited photos it looks like this unit has almost no windows, so I would think it would be difficult to add real bedrooms”
True Valasko,
“real” bedrooms is the key word. But this stupid code of “borrowed light” you dont have to build the walls all the way up. you will cut into the masters room size for a 3br. it can be done but with sacrifices.
Marble appliances
no appliance; who cooks?
“but no one has a reasonable “what’s next” suggestion”
If wife would let me do the kitchen the way i wanted it, my appliances would be RED. the kitchen would be diner style with black and white linoleum, white table and counter tops with the metal trim. (there would be a SS malt mixer though)
SS will be around for a good extended period as its a “clean” color/look and oddly neutral with most woods/colors besides cherry (dark cherry makes it pop). but eventually it will change as Avocado was the rage, SS will be the next Avocado, and for bachelor pads Carbon-fiber will be the next SS, for average joe SS and White will prevail.
3 bedrooms would be out of the question. Just too narrow and deep for that. When we were looking at it I tried imagining how you could reconfigure the second bedroom – e.g. move it to the opposite end – but the problem is that the entryway and the kitchen don’t leave enough width to have a very wide 2nd bedroom. If you didn’t mind having a narrow one it might work.
Personally, I think sales like this indicate that miracles do happen and it gives hopes to many sellers that are unrealistically optimistic. My hats off to the listing agent.
when this happens (a miracle sale) and something bad happens it would mean trouble down the road. i.e. forclosure; short sale; or re-losses. esp given the fact it really isn’t a 2 bedroom or was configured poorly.
“Personally, I think sales like this indicate that miracles do happen and it gives hopes to many sellers that are unrealistically optimistic. My hats off to the listing agent.”
Carbon fiber and stainless steel…sign me up
“If wife would let me do the kitchen the way i wanted it, my appliances would be RED. the kitchen would be diner style with black and white linoleum, white table and counter tops with the metal trim. (there would be a SS malt mixer though)”
I would put that in my lake/beach/whatever house if I had the big fu dollars. Loved the concept since I was a kid. Couldn’t imagine living with in every day, tho.
non load bearing?
“Couldn’t imagine living with in every day, tho”
it would help draw your eye off the everyday real life clutter in the kitchen 🙂
“I would put that in my lake/beach/whatever house if I had the big fu dollars”
dont get me started with FU dollars, i spent many of time sitting on the deucer contemplating what i would create with FU money.
Heck if it was FU money, I’d even put in the Red appliance in my 1.4mil Trump one-bedroom 🙂
i’d also put this carbon fiber coffee table in my trump one bedroom
http://www.homedit.com/carbon-fiber-coffee-table/
I’m going to duplex up the trump one bedroom.
http://www.carbonfibergear.com/eestairs-carbon-fiber-glass-staircase/
oh my god, now there’s a spiral staircase I can approve of! Just don’t wear socks while traversing it! (looks slippery)
I kinda of like the Apple Store stairs or I’ve seen some wood into the wall (but not safely approved for kids with no railing for that not really there look
Valasko: for you.
second to last photo
http://freshome.com/2010/03/02/16-contemporary-stairway-models-from-siller-stairs/
for your duplex at the Trump
@chichow nice.
@sonies, I beleive that carbon fiber stair was around $150K
“Heck if it was FU money, I’d even put in the Red appliance in my 1.4mil Trump one-bedroom :)”
hey didnt someone with (used to) FU money build his kitchen on his terrace at the vetro? and wasnt it posted on CC. now thats FU money when you put your kitchen outside!
Why is everyone so confused. The buyer of this place will use the space as a 1 bedroom! The occasional guest will be sleeping in the living room/glass window dieplay area. It can easily serve as the “in a pinch” 2nd bedroom.
Not every buyer is going to reproduce and move to Arlington Heights in 5 years. Also the buyer could easily be an empty nester that specifically wanted an in-town cool vibe space in close proximity to downtown. I’d rather own that space than a mediocre 1 bedroom at Trunp or any other RN condo.
Nice to see other CC’ers in a positive mood today! Must be the good spring weather.
Congrats to Sabrina on the Trib fame. Maybe you could have a photo spread in Maxim with you covered in some of the crazy featured listing sheets. They could call you the Real Estate Soft Porn Queen!
“Still, everyone rags on SS appliances, but no one has a reasonable “what’s next” suggestion.”
We’ve done a few wood veneer kitchens similar to this pic:
http://www.archiexpo.com/prod/tecnocucina/contemporary-wood-veneer-stainless-steel-kitchen-58926-136921.html
I think this is what’s next in kitchen design…wood veneer matched to the cabinets so it all blends perfectly.
Or, go this route: http://www.200eleventh.com/ watch the virtual tour video for the ‘hidden kitchen’. One of the models I toured had all wood cabinets and appliances…seamless with no handles on any doors. To access you would gently push on one corner of the cabinet or the appliance.
I tried to find the resource for such items, but they would not reveal at that time. I am sure it is a high end Italian design firm. If I get an opp this weekend I will search for a site.
Can’t get enough of these floorplans!http://www.200eleventh.com/content/pdf/floor%20plans_ALL.pdf
Sorry, the floorplan link doesn’t appear to be working. If you are on the site above, click on floorplans to see what I salivate over.
“Why is everyone so confused. The buyer of this place will use the space as a 1 bedroom!….Not every buyer is going to reproduce and move to Arlington Heights in 5 years”
Yes but some people do like 2br to have a roomy to cover some of the costs or another warm body in the unit so loneliness doesn’t set in.
Groove77:
no no NO. If I had the 1bdrm @ Trump with the Terrace
I wouldn’t have any problems attracting a “warm body in the unit so loneliness doesn’t set in.” *ahem*
“another warm body in the unit so loneliness doesn’t set in”
There are so many ways to go with this one, I’m feeling a little overwhelmed.
“Groove77 on June 4th, 2010 at 2:25 pm
Yes but some people do like 2br to have a roomy to cover some of the costs or another warm body in the unit so loneliness doesn’t set in.”
LOL nobody’s buying this place with a “roomy”.
This gives me hope that my 2400 sqft loft may be sellable at some point in the future.
BTW, a similar sized unti at 411 S. Sangamon (1D) is on the market at $450K with parking and outdoor space. The floor plan is chopped into 4 bedrooms but seems like a lot of room for the mony.
Anyone seen it? Thoughts?
Chichow, the level of warm body all will depend on the question presented days ago if that terrace will be able to be “used” by the HOA.
Anon, i will soft pitch you hit out the park brother 🙂
Bradford, hey i am just trying to make a case for a 500k on bedroom because its a unique and i like it.
‘decorative wall’ or ‘non-load bearing’: the term is partition wall.
-not trying to be nit-picky but just answering the question.
Most (real) loft won’t have any internal load-bearing walls. Instead there are column and beams that support the floors above. You’d be amazed at the weight that old loft buildings can support. remember a lot of those building were manufacturing facilities that had heavy equipment.
Westloop screw the hidden kitchen on that virtural tour. It’s cool but not nearly as much wow factor as the “En-Suite Sky Garage”
Never seen that before in a high rise condo. Sign me up for the first one to hit Chicago! That is the bomb. Talk about privacy. Maybe Oprah can have one attached to the side of Water Tower Place so she does not have to run into those pesky neighbors on the elevator as she comes and goes around the building.
“Never seen that before in a high rise condo. Sign me up for the first one to hit Chicago! ”
Not in a condo, but Chicago had that 85 years ago in the Jeweler’s building–35 E Wacker.