Down to the Studs 3-Bedroom Loft for $699,000 at 1872 N. Clybourn in Lincoln Park
This 3-bedroom loft in the Clybourn Lofts at 1872 N. Clybourn in Lincoln Park came on the market in September 2022.
Built as the Baldwin Piano Factory, it was converted into lofts in 1985 and has 57 units.
Because it was one of the early conversions, there are unique layouts in the building.
It has outdoor parking, a rooftop deck and landscaped courtyard. There’s no doorstaff or exercise room or other amenities.
The listing for this 3-bedroom says it was a complete rehab that took it “down to the studs” and that it’s now a “one-of-a-kind” unit.
I encourage people who have Redfin accounts to look at the prior listing pictures to get the full understanding of what was done to this unit.
It has 14 foot tinder ceilings, exposed ductwork, exposed brick walls and massive industrial windows.
The listing says they used locally sourced and reclaimed materials in the rehab including barn doors made from materials found in the Chicago Rail Yards.
There is a “barn-inspired” fireplace wall with hand-hewn mantle.
The kitchen has wood cabinets, open shelving and a gray/black? island with white quartz countertops, stainless steel Viking appliances, a pantry and storage.
There’s a separate dining room.
The primary suite has exposed brick walls and windows, a walk-in-closet and an en suite with double sinks and a white marble shower.
There are two additional bedrooms, and one of those appears to have a window.
The loft has some unique spaces including an office that doubles as a workout area, a lofted den and a lofted playroom, which appear to be accessed via ladders.
The unit has a balcony.
It also has the features buyers look for including central air, washer/dryer in the unit, a storage locker and one exterior parking space.
This building is near both the Brown and Red lines, the shops at North and Clybourn as well as those on Armitage.
Listed at $699,000 at 2265 square feet, is this rehabbed loft a deal?
Emily Sachs Wong and Maureen Mobarak at @Properties Christie’s have the listing. See the pictures and floor plan here.
Unit #306: 3 bedrooms, 2 baths, 2265 square feet, loft
- I couldn’t find an original sales price from the 1980s or 90s or 2000s
- Sold in October 2014 for $430,000 (included the parking)
- Sold in January 2016 for $480,000 (included the parking)
- Listed in September 2022 for $699,000 (includes the parking)
- Currently still listed at $699,000 (includes the parking)
- Assessments of $778 a month (includes exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $11,408
- Central Air
- Washer/dryer in the unit
- Fireplace
- Bedroom #1: 16×11
- Bedroom #2: 16×9
- Bedroom #3: 11×11
- Living room: 20×13
- Dining room: 14×12
- Kitchen: 15×13
- Office: 11×7
- Loft: 16×9
- Balcony: 11×7
Geez Sabrina, enough with the lofts! There are other kinds of housing available in Chicago.
Maybe you should rename your blog Loft Chatter.
I feel bad for the cow who crashed her boat in the living room.
The before was pretty bad. See that they re-used the double oven, micro and dishwasher, but it appears they didn’t add any cooking ventilation, which is understandable, but kinda sucks.
If you love the finishes, probably ok, but I don’t so the reno value to me is the fixed layout–which looks to be a lot better, and at least pretty good now.
Living room is udderly over the top, but I like the looks of the rest of the place.
I’m shock there isnt a bidding war for this. With the lack of inventory and it being “New” this should have been a multiple bid and shouldnt even be listed /s
The lofted areas shouldnt be included in the sf. I would be surprised if the loft had 6′ clear
They’re going to lose $ on this place and its going to sit for a while.
Unless you’re wed to the Gaines school of design, this should be the comp –
https://www.zillow.com/homedetails/1872-N-Clybourn-Ave-APT-507-Chicago-IL-60614/3736327_zpid/
Maybe its just me but assuming the owners have kids, dont know if I’d be keen about using the loft as a play area without some type of railing
Other than the skull am I missing something wrt the cow?
Farmhouse chic really doesnt work in a loft
Is the metal plant nearby still open? or did they finally shut that thing down?
Absolutely hate this area, absurd traffic, not many amenities, bleh
Hard pass. I like the child slide in the loft with no railings and wall ladder and 5′ ceilings. The lofted space is useless space and a complete fire trap.
“Is the metal plant nearby still open?”
it’s gone
Love the redesign other than the distressed shiplap and the light that looks like Cousin Itt hung itself.
Also I don’t mind the multiple posts about lofts. When it comes to design, people take more risks with lofts which makes them more interesting than your standard newer construction.
“Absolutely hate this area, absurd traffic, not many amenities, bleh”
There’s a big difference between being at North and Clybourn and being up the street at Clybourn and Kenmore. What “amenities” aren’t here?
You are just a block or so from Armitage and the Brown line. Nice restaurants there. The Aldi is just down the street as is the Mariano’s and Whole Foods. I’m sure if you live here you go to those stores at certain times of the day to avoid the bad traffic and you learn what way to drive to avoid the worst of it as well.
There’s going to be more development coming to Clybourn in the next 10 years. I don’t see the point of some of those strip malls. The pandemic crushed them. Many are 50% to 75% empty but that is valuable land. Let’s put some apartments on them.
The movie theater will probably be re-developed into a big apartment building and restaurants/shopping.
Recently, it was announced that the Anixter Center would be converted into apartments.
https://therealdeal.com/chicago/2021/09/24/former-anixter-center-headquarters-in-lincoln-park-to-be-converted-into-apartments/
“Unless you’re wed to the Gaines school of design, this should be the comp –”
Finishes aren’t even close to being in the same league, including appliances. But interesting to see that they got $610k without even having in-unit washer/dryer. Wow. But it sold in April so they had the tailwind of the low rates still.
Confirms to me that the price on this one is right on.
The entire floorplan has been changed. The wiring redone. Upscale and custom finishes put in.
It’s been listed for just a few days, JohnnyU. I hesitated to do a post on it because I thought that it might go under contract today.
“Geez Sabrina, enough with the lofts! There are other kinds of housing available in Chicago.”
I’ve done two in a row. LMFAO.
Yeah, we have a LOT of lofts in Chicago. Hooray! It’s one of Chicago’s cooler features thanks to all our manufacturing.
“Is the metal plant nearby still open?”
“A Sterling Bay joint venture wants to construct the 359-unit building on a vacant property at 2031-2033 N. Kingsbury Ave. that it acquired from steelmaker A. Finkl & Sons in 2016, according to a zoning application filed with the city.”
https://www.chicagobusiness.com/commercial-real-estate/sterling-bay-plans-big-apartment-building-next-lincoln-yards
“it’s gone”
I mean, it ain’t reopening, but a lot of General Iron’s equipment is still on the site.
Ponies knows that Finkl is gone–it largely went away in ’15–but General Iron was operating until the end of 2020.
“It’s been listed for just a few days, JohnnyU. I hesitated to do a post on it because I thought that it might go under contract today.”
Like I said you’re the Jim Cramer of CRE
“Finishes aren’t even close to being in the same league, including appliances. But interesting to see that they got $610k without even having in-unit washer/dryer. Wow. But it sold in April so they had the tailwind of the low rates still.”
Bad expensive finishes are still bad
This unit I linked to is $1k more a month (at ask). I dont value Viking appliances and shitty design at +$1k/mo. I guess you do
“The movie theater will probably be re-developed into a big apartment building”
Who proposed that?
Everything is a potential apartment complex
Check out the other “3 bed” place currently for sale:
https://www.redfin.com/IL/Chicago/1872-N-Clybourn-Ave-60614/unit-104/home/13350708
If they’d moved one of the beds around to additional areas and taken pix, could they have called it a “6 bed”?
“Everything is a potential apartment complex”
I’ve seen a couple of proposals, but they’ve involved the surface lot and parking garage to the south, between Shakespeare and Dickens.
But maybe Sabrina has NPI from Novak.
“Who proposed that?”
Everyone? It’s been battered about the last 2+ years. Other than the Barnes & Noble, the entire site is empty now. The movie theater is struggling. It’s a massive lot and new apartments are being built next door and now down the street with Anixter Center being converted.
https://www.chicagobusiness.com/commercial-real-estate/rpt-sells-webster-place-shopping-center-lincoln-park-novak
The timber building is going in right next door to Webster Place to the south. It’s only a matter of time before the Regal Theaters is redeveloped.
https://sterlingbay.com/properties/2100-n-southport/
“This unit I linked to is $1k more a month (at ask). I dont value Viking appliances and shitty design at +$1k/mo. I guess you do”
Reminder: The chatterati almost always gets it wrong on price. Has been the case for 15 years now.
“Reminder: I lie & shill and almost always get it wrong on price. Has been the case for 15 years now.”
FIFY
I’m “lying” now?
Lol. You’re as bad as Bob the Bear JohnnyU who, right on time, has suddenly shown up here again after being absent 2 years. The foreclosure crash didn’t work out for him and instead Chicago’s market was the strongest in 15 years, so he just went back into his cave to wait for the inevitable slowdown, which is now here, and lo and behold, he has appeared.
What’s going to cause the “crash” this time Bob?
If readers of this blog had listened to any of these permabears, they would never ever buy any real estate in Chicago. Could have paid down 10 years in a 30 year fixed loan by now. Lol.
“Everyone?”
So, no one.
Beyond the fact that Everything is a potential apartment complex.
I was talking about an *actual* proposal, as has existed (twice? 3x?) for the parcels south of the main building to get apartments.
“So, no one.”
Excuse me? Google is your friend anon(tfo). You have plenty of time sitting in your basement. Why don’t you give it a try?
Everyone has been talking about redeveloping the Regal site for YEARS. When it was sold in 2018 they were talking about it. Earlier this year, they were talking about it again when it was re-sold.
When the Chicago real estate media is talking about it, yeah, that’s “everyone.” I’m sorry you are out of the loop about that part of Lincoln Park. There are two known apartment developments going forward within a block of the regal site and more to come.
What is happening with the Treasure Island? I see Brooklyn Boulders went in there, lost $1 million, and shut in July. That’s a big lot. It should be redeveloped with apartments/condos too.
This whole area is just ripe for development. As I said, also one or two strip malls just down the street that are half empty too. Tons of parking. Let’s put some townhouses in there. Apartments. Condos. Something other than a waste of space.
This area is really going to boom. Lincoln Yards and all of this other construction. Exciting. Pequod’s has to be loving it that all those apartments will be steps away.
That’s a lot of words to say:
You’re right, no one has yet proposed tearing down the retail. But I expect someone will soon, so stop being a pain.
Whoa, what an over the top hip fest shipwreck… A rich woke white family naming their kids Dash & Isley would totally live here.
Locally sourced/reclaimed materials, whatever, I’m sure they all own iPhones made with essentially slave labor without a care and upgrade every other year.
Like the lofted office, but odd that the balcony is off that. 10lb max dumbbells make sense though, likely a very soy / vegan family.
The lofted closet is unique and appears to be storage for designer bags (and some other clothing that likely doesn’t get worn a lot, maybe dresses?)
The children’s lofted space honestly seems dangerous, but hey there’s not many parks around this area.
Speaking of this area, it’ll eventually be built out with Lincoln Yards and such, but for the time being I am not a fan at all.
Rob seems very bitter. So sad.
He’s not wrong
Hi All,
This one closed for 655K
“Reminder: The chatterati almost always gets it wrong on price. Has been the case for 15 years now.”
Said someone very, very smart..
TBF, I dunno how accurate this was:
“They’re going to lose $ on this place and its going to sit for a while.”
It went under contract 2 days after the post, so it absolutely did sit for a while.
As to the losing money–I know that I don’t know how much they had into it, but it’s not a clear money loser for the seller like so many others recently.
“Confirms to me that the price on this one is right on.”
TBH – I’m pretty surprised that it sold for that much.
Congrats to Emily Sachs Wong and her team for pricing this correctly and getting it sold within 45 days of listing in a market with sales plunging to 10 year lows and mortgage rates of 6% to 7%.
Wow.
Just goes to show you if you come to the market with your “A” game, with a completely renovated property, great pictures and marketing on the listing, then you can still get the sale done, and quickly.
This is a difficult market but there are still people looking to buy. The job market is still solid and that will help the housing market, at least until that shows significant cracks too.
Honestly, there isn’t much on the market right now. If you have a property that sparkles, it may be more advantageous to list now before the inventory comes on in the spring, or the job market deteriorates further.
“Congrats to Emily Sachs Wong and her team for pricing this correctly and getting it sold within 45 days of listing in a market with sales plunging to 10 year lows and mortgage rates of 6% to 7%.”
In what world does $699k = $655k? (plus any potential concessions on the sellers side)
“In what world does $699k = $655k? (plus any potential concessions on the sellers side)”
In a world where there are 7% mortgage rates and sales have crashed. She got a contract on this unit with DAYS.
Wow. Kudos to her. They correctly priced it. Kept it under $700k and got it sold super fast. A win-win for the seller and everyone involved.
“In a world where there are 7% mortgage rates and sales have crashed. She got a contract on this unit with DAYS.
Wow. Kudos to her. They correctly priced it. Kept it under $700k and got it sold super fast. A win-win for the seller and everyone involved.”
Are you plastered?
Odd that they took a low ball offer out of the gate, bird in the hand I guess
I guess low inventory driving sales is no longer the story
“Odd that they took a low ball offer out of the gate, bird in the hand I guess”
JohnnyU sits in his basement, typing his responses on Cribchatter. Never goes outside or interacts with the outside world. His food is brought to him via door dash.
Has no idea that home sales have fallen off a cliff and are at decade lows, nationwide. That home prices are tanking in numerous cities around the country. And that if you are able to sell right now within days in Chicago for just 6.3% off of list, you have a kick ass realtor.
“I guess low inventory driving sales is no longer the story”
No. Low inventory NEVER “drove sales.” It did “drive” prices, however. And it’s the reason this unit sold for just 6.3% off the asking price instead of whatever absurd level all of you thought it would sell for.
Door dash doesn’t deliver to West Muncie. On the plus side I can go out after dark.
I thought it was all about the unstoppable force of demographics?
You can’t keep your pet theories straight
“You can’t keep your pet theories straight”
You mean: actual market conditions?
And here’s what those are:
1. Inventory remains near record lows
2. Sales have fallen off a cliff and are at 10-year lows, back to housing bust levels
3. Prices are mostly holding up unless you’re downtown where there is too much inventory and not enough demand. Downtown prices, in some buildings, at 20-year lows.
To sell, you need to have a move-in ready property OR a price so low buyers see it as a deal. Give the Millennial buyers what they can rent: quartz counter tops, wood floors, stainless steel appliances and marble bathrooms.
By the way, there is almost nothing new coming on the market each day. It is DEAD out there. Everyone is waiting until after the holidays now.
If you have a unique or updated property, maybe now IS the time to list? Especially if it’s a SFH in a popular neighborhood.
I thought Millennials had to move somewhere? And of course they cant rent
Arent buyers just moving down?
Clownshoes
“Arent buyers just moving down?”
Yep. Buyers are moving down. Which is why prices aren’t moving down much in Chicago. We have plenty of move-down properties. The problem will be in markets like Austin, Tampa, LA, SF, Seattle where there are no move-down properties.
Reminder to everyone who is new to the housing market, there are two things that drive the housing market: mortgage rates and the job market.
We got the shock of the higher rates within just a few months (instead of a few years.) It’s happened and buyers are adjusting to it but it’s going to take time. If rates continue to fall back towards 5%, then you will see buying pick up sooner.
But the job market is the second component. It’s holding up better than everyone thought but it’s still early. Could see unemployment above 4% again by next summer. But if the recession is mild, then impact on housing won’t be too bad.
Luxury buyer continues to buy, even in spite of the stock market. Who knew?
“I thought Millennials had to move somewhere? And of course they cant rent”
It’s hard to believe you’ve been on this site for a half dozen years JohnnyU and you STILL don’t understand how the Chicago housing market works, what is driving it, and what is hot, or not.
But I guess when you live in another state for decades, you lose any connection with what is happening somewhere else even if you read a housing blog every day.
Of course the Millennials are renting, and now GenZ is too. Otherwise, who else is filling up all the dozens of high rises being built in Chicago right now?
At least you didn’t try and insinuate that the Millennials were STILL living in their parents basements. Ugh.
“I mean, it ain’t reopening, but a lot of General Iron’s equipment is still on the site.”
Update on that–drove by semi-recently saw that basically all of the equipment has been removed–very visible from across the river.
Story from the announcement of the start of it:
https://blockclubchicago.org/2022/11/09/general-irons-lincoln-park-facility-will-soon-be-demolished-alderman-vows-no-repeat-of-hilco-disaster/
re: Webster Place:
Retail space under major construction. New anchor will be an Advocate outpatient center.
Yep, announced back in January. Kinda sucks that this is what has become of retail space.
https://www.connectcre.com/stories/advocate-health-care-plans-outpatient-center-in-lincoln-park/?fbclid=IwAR1T9AktZ27v5c3W2ku_Pjrs_Y_zO5nfwCsWz8KI-jdNtew_oPtPr2HoKm4
“Yep, announced back in January. Kinda sucks that this is what has become of retail space.”
Surprised by this. I thought the whole thing would be torn down and a big apartment complex would be built there. Huge land. But a medical facility makes some sense in this location. There are already other apartment buildings going in nearby. Are there any other medical complexes in the neighborhood? It has lots of parking, which is key for a medical facility.
Barnes & Noble said they were looking for a new space for a store (after 26 years) but, so far, they haven’t announced anything so I’m thinking they never will. It’s such a huge loss.