Get a 1-Bedroom Loft with Rare Deeded Parking in Printers Row: 523 S. Plymouth
This 1-bedroom in The Peterson Lofts at 523 S. Plymouth in Printers Row came on the market in November 2021.
The Peterson Lofts were built in 1911 and converted to loft condos in 1995.
The building has 49 units and some deeded heated garage spaces in the building.
It has an on-site gym and a common roof deck. There is no door staff.
This loft has 12 foot concrete ceilings, exposed black ductwork, and floor to ceiling industrial windows that face east.
The listing says the loft has a “newly updated” kitchen and bath.
The kitchen has white cabinets, granite counter tops, a breakfast bar and “newer” stainless steel appliances.
The loft has a stone wall gas fireplace and oak hardwood floors in the main living area.
The bedroom doesn’t appear to have a window and has carpet and 3/4th walls.
This unit has the features buyers look for including central air, a new Bosch washer/dryer and “preferred deeded garage parking on level 1 for $35,000 extra.”
523 S. Plymouth is one of the rare Printers Row loft buildings to have heated garage parking in the building.
This loft is near the shops and restaurants of Printers Row, near Millennial and Grant Park, and will be near the new built-out development along the River.
Listed at $295,000, including the parking, that is $40,000 above the 2017 purchase price.
Does the parking give this loft the edge?
Stratos Rounis at SR Realty Group has the listing. See the pictures here.
Unit #703: 1 bedroom, 1 bath, 950 square feet, loft
- Sold in July 1995 for $131,000 (included the parking)
- Sold in April 2005 for $235,000 (included the parking)
- Sold in September 2016 for $245,000 (included the parking)
- Sold in September 2017 for $255,000 (included the parking)
- Originally listed in November 2021 for $260,000 (plus $35,000 for parking)
- Currently still listed at $260,000 (plus $35,000 for parking)
- Assessments of $562 a month (includes cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $4010
- Central Air
- Washer/dryer in the unit
- Gas fireplace
- Bedroom: 13×12
- Living/dining combo: 17×17
- Kitchen: 13×9
- Foyer: 9×6
Using the 17 pictures would help sell this place, looks to live better than I was thinking based on the current listing
The trash bags on the deck are a nice touch
The lick-n-stick fp veneer is cheesy.
This is pushing $300k w/parking. Can rent in SL for less
Also owner is getting murdered w/ building comps – see 802
Can somebody explain the appeal of the South Loop to me? Especially if you don’t work somewhere within walking distance.
“Can somebody explain the appeal of the South Loop to me?”
Quiet, attractive less expensive housing types (for me highrises and townhouses), close to transit, close to necessities, and most importantly, the lake. I would live in South Loop, but do not want to live in Lincoln Park. Too crowded, bad transit, wrong housing types, wrong people
“Can somebody explain the appeal of the South Loop to me?”
You mean this part of the SLoop, or the much larger part south of Roosevelt?
Beautiful building but who’d want to live in a unit with no views and no windows in the bedroom? Not to mention walls that don’t reach the ceiling in the unit’s only private space? Fail!
Still, I love the outside of this building, and if you can put up with all that stuff, maybe it’s a good deal. Nice to see a parking option, and the location is great.
You mean this part of the SLoop, or the much larger part south of Roosevelt?
Any part of it. Certainly some nice buildings and townhouses there but it never felt like a neighborhood to me when I’ve been over there.
Here’s a pretty cool unit in same building (with views) that sold last year. Still looks like a better office space than home, but definitely some personality.
https://www.realtor.com/realestateandhomes-detail/523-S-Plymouth-Ct-Apt-1102_Chicago_IL_60605_M88727-13216
“it never felt like a neighborhood to me when I’ve been over there.”
In addition to Lauren’s points, it’s reasonably convenient for someone associated with UC, who doesn’t want to be in HP. Solid for those with IN/MI lake houses, or family, and making frequent trips that direction, or going to MDW a lot.
I’m not sure how it’s less neighborhoody than Streeterville.
Printers Row has “historic” city feel that not a lot of other parts of Chicago retain.
Not on my list of top spots, but I can understand why it works for some/many.
There are a lot of nice amenities in the South Loop, such as dog parks and restaurants. It appealed to me at one time because of the amenities and the proximity to my office.
Any thoughts on how these older buildings in Printers Row have done with appreciation? Any comments in this area about HOAs being well funded or skimping? Final question any figures on how these buildings stack up in terms of owner occupied vs. investor owned – rental units?
For such a hot market, it seems there are several buildings with multiple units for sale. So I am trying to understand what’s up
“Any thoughts on how these older buildings in Printers Row have done with appreciation? Any comments in this area about HOAs being well funded or skimping? Final question any figures on how these buildings stack up in terms of owner occupied vs. investor owned – rental units?”
Ricardo: get yourself an experienced agent and have them run the comps. They can also get you information about each building’s reserves, when they last did big investments like elevators, roof and hallways, and how many have rental caps or other restrictions for investors.
That’s a much better source than relying on Crib Chatter readers. There are a lot of buildings in Printers Row. No one will know about all of them.
“I’m not sure how it’s less neighborhoody than Streeterville.”
South Loop, not Printers Row, still has open parking lots and deadness on some streets.
Additionally, the Dearborn I and II developments were designed so that outsiders would not want to drive in there (no through streets) and little, to no, restaurants/retail.
It also means the area isn’t that “dense” like you find in other neighborhoods closer to downtown. But a lot of new rental towers have gone up in the South Loop which is getting rid of some of that “quiet” feel it has.
“For such a hot market, it seems there are several buildings with multiple units for sale. So I am trying to understand what’s up”
bUY NoW oR Be prICeD OuT FORevEr
“Ricardo: get yourself an experienced agent and have them run the comps. They can also get you information about each building’s reserves, when they last did big investments like elevators, roof and hallways, and how many have rental caps or other restrictions for investors.
That’s a much better source than relying on Crib Chatter readers. There are a lot of buildings in Printers Row. No one will know about all of them.”
Presumably Ricardo knows that and is looking to supplement whatever a broker can tell him about the subject neighborhood. A lot of people (mostly buyers, but also sellers) can benefit from hearing the opinions of a range of CC commenters, from the long-time regulars to new or part-timers. As for brokers, presumably Ricardo also knows that finding an “experienced” or good one to serve as buyer’s agent is tricky: the more experienced or good they are, the more likely they are to have listings and not need to be running around catering to buyers (for potentially, and likely, zero pay), and many very experienced and good brokers will delagate the tasks of neighborhood/building diligence down to a newer agent on their team. I’m not saying that there aren’t brokers who can be valuable to buyers (especially in low inventory areas), only that they’re a very rare bird.
“As for brokers, presumably Ricardo also knows that finding an “experienced” or good one to serve as buyer’s agent is tricky: the more experienced or good they are, the more likely they are to have listings and not need to be running around catering to buyers (for potentially, and likely, zero pay)”
I know plenty of agents that are great and know their neighborhoods well. They have been in the industry for a decade or more. They know the buildings, and what is happening in them, because their clients have bought, and sold, in them over the years. They know who is doing the building repairs and who is not.
Also, any experienced agent can get the condo minutes, find out what is going etc. And certainly your lawyer can do the same.
Heck, if I were looking to buy there, I’d go to the Open Houses, if any, in the neighborhood. Ask the agent how things are looking in the building, and the market overall. How many are showing up at the Open House?
No one on this site knows what is going on in every building in Printers Row. I’m fine with people asking questions and using this site as a source of value, which it is. But many of the commenters on this site don’t even live in Chicago, and haven’t for years. What do they know about certain buildings? Nothing. For example, every time I post on 1000 W Washington in the West Loop, someone will show up to remind us all about the lawsuits in the building over problems in the conversion. Those lawsuits were literally from over a decade ago.
I lived in a Printers Row building 25 years ago, before I got married. What do I know about what is happening in it now? I don’t.
Printers Row hasn’t been a “hot” neighborhood in about 25 to 30 years. Since they first converted those loft buildings. If buyers want “hot” they need to go to the West Loop, Logan Square. Those are the two hottest neighborhoods for condos. You will not get deals on anything there and for lower priced units, you will likely get in a bidding war. But it is “hot.”
“I lived in a Printers Row building 25 years ago, before I got married. What do I know about what is happening in it now? I don’t.”
Wow you are old
“Wow you are old”
My kids are in their 20s JohnnyU. Kind of hard to be “young” and have that.
“ My kids are in their 20s JohnnyU. Kind of hard to be “young” and have that”
It’s just funny watching you pretend like you have your finger on the pulse of Millennials
This reminds me of you – https://www.reactiongifs.us/wp-content/uploads/2014/03/fellow_kids_steve_buscemi.gif
Good luck Boomer
“It’s just funny watching you pretend like you have your finger on the pulse of Millennials”
My kids are GenZ.
Get into this century. Millennials are OLD.