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Get a 2/2 Concrete Loft for Under $420,000 in the South Loop: 1503 S. State

This 2-bedroom corner loft in the 15th Street Lofts at 1503 S. State in the South Loop just came on the market. (Yes, the picture is from 10 years ago and I need a new one.)

This building was constructed in 1895 and converted into loft condos at the height of the boom in 2006. It has 78 units and garage parking.

A bunch of the units got into trouble during the bust 10 years ago.

According to the listing, this building is only 35% owner occupied today.

This unit is a rare corner loft with distinctive arched windows, concrete ceilings and some exposed brick walls.

There’s a 15 foot balcony off the living room.

Both bedrooms are enclosed and have windows, which is rare for a loft.

The listing describes the kitchen as a “chef’s kitchen” with wood cabinets, granite counter tops and Jenn Air stainless steel appliances.

There are light fixtures from RH and Lightology and a Nest thermostat.

It has the features buyers look for including central air, washer/dryer in the unit and garage parking is $30,000 extra (and must be sold with the unit.)

The building doesn’t appear to have any amenities or a doorman.

Listed for $419,900, with the parking, is the South Loop still the most affordable downtown neighborhood?

Alysa Peterson at Redfin has the listing. See the pictures here.

Unit #606: 2 bedrooms, 2 baths, no square footage listed, loft

  • Sold in May 2006 for $323,500
  • Sold in July 2016 for $390,000 (included the parking)
  • Currently listed at $389,900 (plus $30,000 for the parking which must be sold with the unit)
  • Taxes of $6645
  • Assessments of $519 a month (includes heat, gas, cable, exterior maintenance, scavenger, snow removal)
  • Central Air
  • Washer/dryer in the unit
  • Bedroom #1: 15×11
  • Bedroom #2: 13×12
  • Living room: 18×16
  • Kitchen: 10×12

This entry was posted on Thursday, September 12th, 2019 at 9:44 am and is filed under Lofts, South Loop. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Get a 2/2 Concrete Loft for Under $420,000 in the South Loop: 1503 S. State”

  1. Nice looking loft and the price seems decent. I love the window in the bedroom..

    However, I wouldn’t call this South Loop. Anything south of Roosevelt really stretches the definition of “Loop.” It wouldn’t be an easy walk to the office from here on a cold day.

    No amenities or doorman, but I guess the low assessments make up for that a bit.

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  2. fact: everything south of Ida B Wells and north of the Stevenson (HWY 55) between the river and the lake (excluding Chinatown) is officially the South Loop…

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