Do Famous Former Residents Sway You? A 2-Bedroom Loft at 333 W. Hubbard in River North
This 2-bedroom loft in the Union Lofts at 333 W. Hubbard in River North came on the market in June 2012.
It is on the 9th floor of the original factory building in the back of the building, which faces the Merchandise Mart. This portion of the building actually has more unique loft features.
The loft has 13 foot ceilings and exposed brick.
The kitchen has maple cabinets, granite counter tops and white appliances.
It has central air, a washer/dryer in the unit and parking is available for $35,000 extra.
The listing says “Famous current Chicago Bear lived in complex.”
Do famous former residents in the same building/complex (not even in the same unit) sway you to buy a property?
This loft has been reduced $4150 since early June and says “Bring us an offer!”
However, it is still listed $9850 above the 2005 price.
Will it get the premium?
[Notice that until the 2005 purchase, the loft was sold just about every 2 years. An agent once told me that the average time people lived in lofts was 2 years. That’s a lot of realtors’ commissions.]
Jerry Ricordati at Baird & Warner has the listing. See the pictures here.
Unit #910: 2 bedrooms, 2 baths, 1192 square feet
- Sold in November 1998 for $192,500
- Sold in May 1999 for $270,000
- Sold in September 2001 for $280,000
- Sold in March 2003 for $302,000
- Sold in March 2005 for $325,000
- Originally listed in June 2011 for $339,000
- Reduced
- Currently listed at $334,850 (parking is $35,000 extra)
- Assessments of $624 a month (includes heat, a/c, gas, doorman, cable)
- Taxes of $5189
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×12
- Bedroom #2: 12×11
That seems like a pretty nice unit at that price. That stretch of street is pretty ugly, but it is walking distance to a lot of places (the bars up Hubbard, MM, and the Loop). Might a good buy for a young person who works in the Loop and likes going out. If I was 30 (and making more than I made at 30) I would be very interested. And no, I couldn’t care less about former residents.
Gee, I wonder if you can see the Merchandise Mart from there?
When the listing comments about prior residents, I assume its because there is nothing great to say about the unit. Such is the case here.
The photos taken at what looks like midday don’t appear to confirm that the windows let in lots of light. Especially when the majority of the day the Merchandise Mart outside the window will be blocking the sun. And it’s a shame they haven’t updated any of the developer finishes in all those years. Oh and no I don’t care who used to live there!
“[Notice that until the 2005 purchase, the loft was sold just about every 2 years. An agent once told me that the average time people lived in lofts was 2 years. That’s a lot of realtors’ commissions.]”
I wondeR why that is. I also wonder if the past prices included the parking. I guess the consistent price increases occurred because of the famous Bear. Maybe if it was Yogi, then it may make a difference.
The 2001 price (including parking) looks about right. There’s nothing special about this unit other than being in a convenient/walkable location.
“I also wonder if the past prices included the parking.”
There was only one PIN number for the prior sales which leads me to believe that parking was NOT included.
#Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz….
Lame, boring place.
Needs to be rented to two young professionals. Not many in the 20-30 age range can afford this place by themselves. And if they can, they certainly aren’t buying this unit.
NO. Former famous residents have zero influence for me on a property – and have to agree with Urban Mommy; must mean there’s nothing else good to say about this property.
Off topic- but I DID see the Crain’s piece about Related buying up all those South Loop towers. I didn’t have time to do a post for today so we’ll discuss it on Thursday. Where’s miumiu when you need her? Those are her favorite buildings!
Not unless they’re hot and return for conjugal visits.
“Do famous former residents in the same building/complex (not even in the same unit) sway you to buy a property?”
My own Bears/real estate encounter:
We once looked at a large vintage condo on the south side of Evanston and the owner was present when the agent showed us the unit. Turned out the owner was Ronnie Bull, who played running back for the Bears in the 1960s with Gayle Sayers. He was a really nice guy, and we spent a lot of time talking to him about the condo, which was very pleasant (though we didn’t end up buying it). He had a lot of Bears memorabilia. Anyway, it made for an interesting morning.
“And no, I couldn’t care less about former residents.”
Thank you!!! Not only do I share your sentiment, but I’m elated that you used the correct term. It drives me crazy when people say “I could care less.”
I think advertising this unit on the basis of a current Bears player used to having lived in the building is as lame as that house in lake view advertising that a news anchor lived there in the 80’s. Who cares?!?
Lame unit as well. I sure hope the 1998 buyers did some work to the unit to deserve their large profit in little time. Clearly nothing had been done since.
“as lame as that house in lake view advertising that a news anchor lived there in the 80?s. Who cares?!?”
Apparently the agent and/or seller does, so may tell you what kind of people you’d be dealing with. So yet another reason to move on to the next property.
“Not unless they’re hot and return for conjugal visits.”
Are you looking for conjugal visits from current Bears players? Better not tell the wife about that. 😉
Speaking of celebrity homes, I wonder what happened to Mosley Braun’s place.
I also don’t care who lived there in the past unless something about their status made them decorate the house in a crazy way – such as Sara Winchester who created all kinds of weird traps in her house to ward off the ghosts her husband’s guns created.
“Speaking of celebrity homes, I wonder what happened to Mosley Braun’s place.”
It’s still on the market (844 days) at the same $1.9 million. I guess the tea business or whatever she was doing is still going because she hasn’t lost it in a foreclosure.
I toured this place two weeks ago.
The building is nice. The view is terrible and looks directly onto the Merchandise Mart. Nothing else. I was there at 4pm and it felt dark and closed off due to that. The Master bath is tiny. The picture makes it look much better. The door to the bathroom swings right into the vanity and leaves no room for you to use it.
With the view, high assessment for the price point and layout quirks I do not see the unit will go for the ’05 price. They need to lease this place.
Sabrina, I live in one of the Museum Park Bldgs that has Related coming in. It all sounds good for us so far. There hasn’t been any effort to market these condos for well over a year. We welcome new marketing efforts & also are relieved to see an organization come in that can pay their portion of the assessments until the units are sold. The developer always did, but there was always the worry that one day they might not.
I have a 1989 LeBaron that was once owned by John Voight !
Nicholas (July 3, 2012, 1:47 pm)
I have a 1989 LeBaron that was once owned by John Voight !
___________________________________________________
Best comment in the history of CribChatter.
Does it have coriiiiiinthian leather?
And iirc another (in)famous resident of this complex is (or was if he moved) one of our town’s premier low end bankruptcy specialists whose name you would recognize from his television ads. Iirc his name and address was publicized a few years back after he was arrested after allegedly getting into a fracas with a younger neighbor.
“one of our town’s premier douchebag low end bankruptcy specialists”
Fixed that for ya, southbound.
Can anybody provide an example — in Chicago — where one’s celebrity has increased the value of their real estate? As I recall, Oprah recently sold condo on East LSD for 50% of what she paid. And Nate Berkus can’t sell his Astor Street condo.
They should have said that a former “Laguna Beach” star used to visit her future baby daddy when he lived in this complex. That would’ve gotten the both sexes interested! lol
Yes, the history of a property (including former owners/renters) may add to its appeal.
Consider those historical markers outside the former residences of Carl Sandburg (in my own nabe), Nelson Algren (in a friend’s nabe), the famous soap-opera playwright (vintage hirise in the Gold Coast), etc. Depending on your cultural/political leanings, such “trivia” may be a factor in your decision to buy/rent there.
So yes, there may be a “sports nut” out there who would love to bask in the reflected glory of a Bears star.
Hey, isn’t/wasn’t MICHAEL JORDAN’s mansion on the market?
Everytime I looked at the MM I’d think of the Kennedys. Including poor John John. Who would have married me if it wasn’t for that Bessette bitch destroying our love.
Jordan’s home (2900 Park Lane – $29MM) in Highland Park is on the market. His former wife, Juanita, is also selling her condo (1100 N LSD – $5MM). The Elysian (Waldorf Astoria), which was from complete, can be seen in one of the listing pics, so the unit has been on the market for a number of years.
I will never understand the love of lofts.
I remember showing a few of these units a few yrs ago and reading all the memos that had collected in the empty unit. Major litigation between owners and developer, if I’m remembering correctly. Anyone know what is or was going on with that?
Anyone have any color on the litigation between owners and the developer?
“Anyone have any color on the litigation between owners and the developer?”
My god- is this STILL going on? It can’t be. There was litigation 11 years ago when I knew people looking in this building! There is no way 11 years later they are STILL fighting about it.
Former Blackhawks player Brian Sutter owned in this building at one time, too….
Make that former Blackhawks *head coach* Brian Sutter. This is what I get for commenting at 11:35PM! Senior moments abound even more than normal at this hour………