Get a 2-Bedroom Loft With Parking in North Center for $225,000: 1801 W. Larchmont
This 2-bedroom loft at the Larchmont Lofts at 1801 W. Larchmont in North Center has been on the market since April 2010.
It is now a short sale and is listed $104,000 under the 2007 purchase price.
The loft has 12 foot concrete ceilings with some exposed brick. It is a south facing unit, so it is not facing either the Metra or the El directly.
The kitchen has white cabinets, stainless steel appliances and white counter tops. It has the other features buyers look for including central air, washer/dryer in the unit and secured parking included in the price.
Before you argue the price should be much lower, Unit #211 right underneath it also was recently on the market. The unit was nearly identical, even in finishes, except that the kitchen had granite counter tops.
Unit #211 sold in early October for $265,000 including the parking. You can see the pictures of that loft here if you want to compare.
Does that make #311 a real steal at just $225,000? (And is the buyer of #211 now kicking themselves?)
Robin Miner at @Properties has the listing. See the pictures here.
Unit #311: 2 bedrooms, 2 baths, 1300 square feet
- Sold in August 1996 for $140,000
- Sold in July 1998 for $185,000
- Sold in February 2007 for $317,000
- Originally listed in April 2010 for $329,000
- Reduced numerous times
- Currently a “short sale” at $225,000 (includes the parking)
- Assessment of $273 a month (includes cable)
- Taxes of $5315
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×12
- Bedroom #2: 14×10
Congrats to the new owner of unit 211 on their beautiful new home!
I was excited seeing the exterior but the inside is a big disappointment.
Did the bank approve the $225K Price? Well, then it’s not really the price is it?
Agree L B, a few properties I’ve been following were well priced short sales that went under contract in days of listing. Both recently popped back up at back on the mkt at higher prices!
#211 appears to have massively overpaid. No surprise. Most buyers of 2/2s from the last year or two will become clinically depressed when they see how low this segment of the market will go.
Has #211 closed or can they wiggle out of it? I couldn’t imagine living in 211 and having the noise from my new upstairs neighbors reminding me every day that I’m 15% underwater in a month.
Why live next to just the L when you can live next to both the L *and* Metra!
Seems like a good deal, but who knows if the bank will accept this price. I think people generally are staying away from short sales for this very reason.
I saw this unit recently. Train/el noise did not seem to be an issue, roof deck (common area) is great, and interior common areas are nice too. Elevator is tiny and clunky-slow. The issue with the unit in my eyes is that the floors have been badly damaged. I imagine most buyers would want to start over with new flooring throughout. Same with kitchen cabinets/counters probably. Really nice immediate neighborhood of course. Utilities were surprisingly reasonable. I don’t recall hearing any noise floor-to-floor: I think it’s concrete.
Won’t the bank see how much 211 sold for and reject anything significantly lower? I agree with miumiu, I was excited when I saw the clock tower and exterior, but the interior leaves a lot to be desired.
“Steps from the EL”
If you opened up the window you can spit on the EL, or the Metra on the other side of the building.
It’s my impression that the walls don’t come up to the ceiling in the bedroom. OK for childless couples, I suppose, but if you have kids and want privacy, this isn’t going to work.
Nice view from the roof deck, though. I wonder what the top unit is like here. I’d like to be in the clocktower part.
“If you opened up the window you can spit on the EL, or the Metra on the other side of the building.”
That hasn’t stopped buyers from buying lofts in the 1800 w grace development in the $400,000s.
the one by the Traders Joe’s? ARE people buying there? always seems like a ghost town there to me.
“That hasn’t stopped buyers from buying lofts in the 1800 w grace development in the $400,000s.”
Agreed, many lofts are located near busy roads, trains etc because of it’s previous life as an industrial building. That being said, I would never buy from the developer of 1800 w grace. Hopefully the Grace building hasn’t had issues like his other project up in Rogers Park.
Roma: Yes- the one by Trader Joe’s. I don’t know how many total have now sold but there have been sales in there over the past 6 months.
1800 w grace is a pretty unique and modern construction (as far as I can tell looking at the promotional website). There are not that many such condos so it should help with the sale. That being said, the price point seems pretty high to me. I am not too familiar with the location, but it will be surprising if they sell at $600K +.
” I couldn’t imagine living in 211 and having the noise from my new upstairs neighbors reminding me every day that I’m 15% underwater in a month.”
It’s got concrete ceilings. Should be pretty quite, no?
^quiet
Concrete lofts are very quiet from floor to ceiling (assuming that all the old conduit that’s cast into the concrete was filled with fire caulk or sealant).
I know it’s a loft, but only two windows is a deal breaker for me.
The 1800 Grace building used to be a facility that made and distributed graduation, choir and judicial robes and at one time held almost 90% of the market share of that business. From December thru May a large part-time work force, mainly local housewives, did data entry for the orders from schools all over the US and Canada.
Of course, the business closed down in the early millennium due to outsourcing, foreign competition, etc. And now this historic facility has turned into condos for the Trader Joes/Brownstone/Cubbie Nation crowd.
Yet another “typical Chicago story.”