Com Ed Loft Still Available One Year Later:1128 W. Ardmore in Edgewater
We first chattered about this loft conversion of an old Com Ed station at 1128 W. Ardmore in Edgewater in August 2008.
See our prior chatter and pictures here.
Converted in 2006, several resales were back on the market not even two years later.
This 1-bedroom plus den has been on the market for a year. It has concrete ceilings and some exposed brick. It’s a duplex down.
It’s now listed for $18,000 under the 2006 purchase price.
John Scheiblhofer at @Properties has the listing. See the pictures here.
Unit #3: 1 bedroom plus den, 1.5 baths, 1200 square feet, duplex down
- Sold in February 2007 for $317,500
- Originally listed in June 2008 for $320,000
- Was listed in August 2008 for $318,500 (parking included)
- Reduced numerous times
- Currently listed for $285,500 (plus $14,000 for parking)
- Assessments of $224 a month
- Taxes are $4399
- Central Air
- Washer/Dryer in the unit
Another year and it will be another 100k cheaper.
Seriously I don’t care how much granite you throw at the countertops or stainless steel you have in the fridge, at the end of the day its a 1 bedroom in Edgewater.
Close to the Red Line and Lake and it does seem spacious for a 1 bdrm. If you could glue on another bdrm it might be worth it.
Sabrina, is a resale or was it leased out by the developer? I don’t really think duplex down is the right term for this, since it’s a new buildout in an industrial property, not a ‘rehab’ annexing basement space.
“Close to the Red Line and Lake and it does seem spacious for a 1 bdrm. If you could glue on another bdrm it might be worth it.”
CK – It is two feet from BEING ON THE RED LINE! you can’t much closer than that. Plus your backyard is a huge FUGLY CHA tower… This project was truely a result of the bubble. I like the unit as a one bedroom, it has a good layout and is well appointed, but the location is just insane! If you moved it west of Broadway, I think you might be able to get $240K for it.
Feels spacious, but that’s why 1200sf translates to only 1BR. Certainly not the most efficient use of area. In order to make a place feel “spacious”, I recommend starting with a suitable amount of *space* first.
I generally like this place. Other than the location right next to the Red Line, it seems to be a pretty nice place.
A loft you don’t feel crammed into with all the required must haves. Move it into a better area and it probably wouldn’t be on market too long….
JMO…
“Move it into a better area and it probably wouldn’t be on market too long….”
Well, yeah. Like the South Shore house–move it to Rogers Park, even, and it wouldn’t last long at $1.5mm, even with “only” 30′ of lake frontage.
Back in about 2002 a guy from Michigan bought the building from Com Ed and was gutting it to turn the place into a club. The neighbors ganged up against him and he sold the building to the condo developer.
This place would have made an awesome club, condos, not so much.
anon,
just an observation that for a 1200 sq ft decently laid out space “should” fetch at the very least #285k even in Chicago…$14k for an outdoor space? OK
kc08 is right, that building would have made a great club. I have some photos of this and other conversions taken during 2005-2006, they’ll probably be real curiosities in a few years time. It’s nice to see many posters recognize that projects like this were the direct result of the speculative bubble. Already one can get much better for less, and it’s still early on in the bust.
“CK – It is two feet from BEING ON THE RED LINE!”
Wow, totally spaced that one. Ya, way to close to the train. My eyes just drift to the stations on google maps.