Everything Is New: A New Kitchen And Two New Baths For This Lakeview Loft: 1635 W. Belmont
This 2-bedroom in the Cinema Lofts at 1635 W. Belmont in Lakeview just came on the market.
It last sold as a short sale in November 2010 for just $315,000.
But it has been renovated with a completely new kitchen and two new baths.
If you have a Redfin account, you can see the 2010 listing pictures. The previous kitchen was the original 1997 kitchen with white cabinets, white appliances and laminate counter tops.
The bathrooms were much the same.
The current kitchen has new cherry cabinets, stone counter tops and a tile backsplash along with stainless steel appliances, including a SubZero refrigerator.
The master bathroom also has a new vanity and a stone walk in shower. There aren’t any pictures in the listing of the second bath.
The unit is a top floor corner unit with south and west views. It has two decks.
It also has the other features that buyers look for including central air, in-unit washer/dryer and the rare 2-car parking.
The Cinema Lofts is a doorman building but the unit is what is called a “soft loft” in that it has higher ceilings and exposed duct work but none of the other features of “authentic” lofts such as exposed brick, beams or timber or concrete ceilings.
With all the upgrades, and buyers wanting “new”, will this seller get a quick sale?
Tod Pratt at Koenig & Strey Real Living has the listing. See the pictures here.
Unit #702: 2 bedrooms, 2 baths, 1500 square feet, 2 car parking
- Sold in September 1997 for $256,000
- Sold in January 1998 for $282,000
- Sold in July 2003 for $409,500
- Sold in July 2006 for $454,000
- Sold as a “short sale” in November 2010 for $315,000
- Currently listed for $450,000
- Assessments of $557 a month (includes cable, doorman)
- Taxes of $8217
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 16×13
- Bedroom #2: 15×11
As someone who’s never been much of a loft fan, I’m very impressed with this place, especially the natural light, the outdoor space and the views. Good location, too. Never would have expected a place in this building to look so good. Seems a little bit pricey considering it’s a 2-2 and it’s far from the lake, but I can’t see it going too much lower.
Looking at the photos again, I’m a bit disappointed that it appears the only place to eat is at the counter. Seems like the living area doesn’t have space for an actual dining room table.
“Seems like the living area doesn’t have space for an actual dining room table.”
Maybe not, but the furniture they staged with is pretty large, and the pix so-so (tho better than most), so not entirely clear.
One thing for sure–that TV is mounted way too high.
enh. this unit must be “new” construction on the roof of the original building – it doesn’t appear to have any of the architectural features of the original. So at that point – you’re just paying for a rather bland drywall box on top of a cool older building. IMHO.
“Seems like the living area doesn’t have space for an actual dining room table.”
If you went to a more normal sized couch and did away with that separate chair, I think you could squeeze in a table either between the counter and the couch, or between the couch and the windows. Surely not a table for 16, but a small bistro set for 2 at the very least.
OT don’t you just love these Blatantly Obvious articles..is there anyone with a mortgage out there who needs one of these articles to tell them about saving money?
http://realestate.yahoo.com/news/five-smart-reasons-to-refinance-your-mortgage.html
Above $400K plus those $557/mo. assessments (ouch) make this too expensive for just a 2/2.
“this unit must be “new” construction on the roof of the original building ”
Here’s one not in a “drywall box on top”:
http://www.redfin.com/IL/Chicago/1635-W-Belmont-Ave-60657/unit-206/home/12804910
Not seeing any architectural features there, either. Do the units facing Belmont have something interesting in them? Or was this (as I suspect) basically a facade-ectomy? Did they even preserve teh lobby in any meaningful way?
Don’t know it they preserved anything except the facade but I recall when it was converted that it sold quickly. Good area and nice places. Hope that someone enjoys living there. Price is at the top end of what most will pay for a 2/2 but I do think that the unit will sell for just over $400K.
I am the original owner of this condo when I purchased it new in 1997. The facade was kept in return for developer garnering the necessary zoning changes. There are hardly any reminders of the theater’s glorious lobby except for photos. The units did not have architectural details, but my unit did have a stellar view, two prime parking spots near the elevator, and roof rights. I never lived in the unit. I just flipped it shortly after the purchase.
I watched the process of this building being “converted.” It looked to me that they keep the belmont facade and removed the rest of it. I thing the only sliver they kept was the front wall.
“think” not thing