Get a 2-Bedroom Concrete Loft With Parking for Under $260,000: 728 W. Jackson in the West Loop
This 2-bedroom loft in the Haberdasher Lofts at 728 W. Jackson in the West Loop has been on the market since July 2011 (or is this the loop? I never know with the properties west of the river but east of the highway).
The southwest corner unit is a rare loft with windows in both of its bedrooms.
It has 12 foot concrete ceilings (which are often preferred by loft lovers because you hear no noise) and exposed brick.
In authentic loft fashion- the bedrooms do not have full walls and it appears they don’t have doors but it has a split floor plan for some additional privacy.
The kitchen has white cabinets and granite counter tops. It has a mix of stainless and white appliances.
The Haberdasher Lofts is a full service building with a doorman, an exercise room and even a basketball court.
At 1200 square feet, is this a deal?
Christine Hancock at Prudential Rubloff has the listing. See more pictures here.
Unit #414: 2 bedrooms, 2 baths, 1200 square feet
- Sold in January 1996 for $149,500
- Sold in July 1998 for $194,500
- Sold in May 2002 for $283,000
- Sold in December 2004 for $305,000
- Originally listed in July 2011 for $265,000
- Reduced
- Currently listed at $230,000 (plus $30,000 for parking)
- Assessments of $457 a month (includes heat, a/c, cable, gas, doorman, exercise room)
- Taxes of $2990
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×12
- Bedroom #2: 11×10
Unit is a bit narrow for my taste, but it may just be the staging. I lived next door to this building at The Edge for a year. Very lonely area, not much night life in this niche part of the loop/west loop. Great if you like Greek food though.
I agree with Elliot that it is narrow unit and lonely at night.
If the bedrooms do have windows then the new owner should put in the glass panels to the ceiling to minimize sound travel. That would be a HUGE improvement for privacy.
How is the association in this building holding up?
Blago’s House!!
http://www.redfin.com/IL/Chicago/Undisclosed-address-60625/home/13488751
Anything west of Canal is the West Loop as far as I’m concerned. This isn’t really an interesting area, but it is certainly convenient to many places in the Loop, West Loop, and South Loop. I think it’s a pretty good deal, though I’d want to close off the bedrooms.
You can walk through this unit with Chris Hancock in this YoChicago sponsored video, and also see some of the common areas at Haberdasher:
http://www.youtube.com/watch?v=gWQdzHuxAs8
“Blago’s House” BAAAAAAAAAAAAHHHHHHHHHHHHHHAAAAAAHAHAHA> Over $1 million. Hilarious.
fwliw: based on list prices you could buy 2 of these places at 728 W Jackson and have virtually the same all-in costs as if you bought just the one 2 bedroom unit at 530 N LakeShore.
i know there are a lot of differences (proximity to the lake being the biggest…) in these two listings but when you factor it all in i just don’t get such a disparity in price.
maybe it’s just me (i am a bit of a West Loop cheerleader) but i think the $/SF premiums in certain areas of the city continue to be entirely out of whack with reality.
nice starter condo if you like the greektown area
This place is a steal. I can’t believe it. The assessments are even reasonable for what you get.
“Blago’s House!!”
Nice.
anon, I think you said the other day that a trustee’s deed was (or could be?) just a mortgage. I see a trustee’s deed on here that looks just like a prior sale between a trust holding the property and the blagos. I guess that’s what I always thought a trustee’s deed was. Is that what it is here? Is it sometimes not?
Explications, elucidations, and such?
“anon, I think you said the other day that a trustee’s deed was (or could be?) just a mortgage. I see a trustee’s deed on here that looks just like a prior sale between a trust holding the property and the blagos. I guess that’s what I always thought a trustee’s deed was. Is that what it is here? Is it sometimes not?”
Trust deed =/= trustee’s deed. Extra letters are important.
Trustee’s deed is the deed from the trustee of a land trust (basically a quit claim); trust deed is basically a mortgage (and very rare (at best) in Illinois now).
Assessments of $457 a month
That must just be an irritating check to write every month, esp. for a routine/smallish 1,200 sf place.
Duncan – You get what you pay for. An assessment of that size per month is not unreasonable considering the size of the building and thus the necessary upkeep costs, plus doorperson’s salary, maintenance of large recreational spaces, etc.
It includes heat and a/c, plus an indoor basketball half-court. The real key is how big the bldg reserve might be.
I pay $400/month just for gym and personal training sessions alone. The assessments on this place are CHEAP!
Duncan, these assessments are in line for the amenities provided
Imagine road noise is pretty bad on the west side of this building?
“Imagine road noise is pretty bad on the west side of this building?”
With any windows open I mean…
We used to live in the building. Building is AWESOME. Staff is super friendly. You can’t hear the traffic. And this price is a steal! I can’t believe that this place has not sold yet.
location location location
SW corner, 4th floor. Would the expressway be right out the window?
I think the assessments are actually pretty cheap.