Get a 2-Bedroom Timber Loft for $470,000 at 226 N. Clinton on the Near West Side
This 2-bedroom in the Clinton Street Lofts at 226 N. Clinton on the Near West Side came on the market in October 2022.
This building was converted into loft condos in 1998. It has 176 units and attached garage parking.
There is no 24/7 door staff, but it does have evening front desk, on-site management, an exercise room, a bike room, extra storage and a courtyard garden.
This loft has authentic loft features including a 13 foot timber beam ceiling and exposed brick walls.
The bedrooms are fully enclosed in a split floor plan and both have arched windows.
The listing says the diagonal hardwood floors have recently been refinished.
The loft also has a renovated kitchen with new stainless steel appliances, white and gray cabinets, an island with waterfall edge, and quartz counter tops.
It has a gas fireplace and a balcony with city views.
The unit has 3 walk-in-closets and a lower level storage room.
It has the features buyers look for including central air, washer/dryer in the unit and garage parking is included.
This building is near hot Fulton Market and there continues to be construction nearby in the Near West Side, mostly in new apartments.
Originally listed in October 2022 at $475,000, it was under contract, but has now been relisted and reduced $5,000 to $470,000.
Is this a good starter property in this neighborhood?
Megan Kinnahan at @properties Christie’s has the listing. See the pictures and floor plan here.
Unit #202: 2 bedrooms, 2 baths, no square footage listed, loft
- Sold in August 1998 for $182,500
- Sold in September 1999 for $245,000
- Originally listed in October 2022 for $475,000
- Under contract
- Reduced
- Currently listed at $470,000 (garage parking included)
- Central Air
- Washer/dryer in the unit
- Gas fireplace
- Bedroom #1: 13×17
- Bedroom #2: 14×13
- Living room: 11×19
- Dining room: 10×14
- Kitchen: 10×14
- WIC: 6×6
- Laundry room: 5×5
- Balcony: 4×14
“Is this a good starter property in this neighborhood?”
$95k+ closing costs then $3700/mo is considered a starter property now?
Nice code violation in the laundry closet.
It’s nice for what it is, but:
2d bath needed some sort of update.
Kitchen layout is rough–range (which is a cheapo) next to the wall sucks; what’s with the gap next to the d/w (yes, post–put in short cabinet)? tiny fridge, dust bunny ledge is a bad idea.
hvac is over the 2d bath? Venting makes that 2d bed not really private.
just dead space over the primary bath?
$425 w/ parking
It is what it is
“$95k+ closing costs then $3700/mo is considered a starter property now?”
When a similar 2/2 in this neighborhood rents for $4,000 to $6,000 a month?
Yeah.
Where have you been? This is selling for under the rental price even with rates over 6%. You can always refinance when they drop further next year making this unit even cheaper.
No one is going to comment on the condo flipping that went on in the late 1990s when these loft buildings were being converted? There was a LOT of this because there was so much demand. Original buyers made a lot of money buying “pre-construction” and then flipping them, like what happened with this unit.
Also, no one is going to comment about how this owner is, basically, the original owner? Wow. Congrats to them. That’s incredible. And they bought before the housing bubble so they actually got in at a good time, when Chicago valuations were relatively low. Of course, in the late 1990s, mortgage rates were high.
“Nice code violation in the laundry closet.”
Huh? You can’t have a laundry room in a loft?
I can’t imagine paying nearly half a mil for this place. It literally has 3 windows (and a balcony door). Is that a plywood backsplash? At first I thought it was a boarded up window! I like the pictures of the tiny desk and the toilet paper in the bathroom!
“I can’t imagine paying nearly half a mil for this place.”
Big city living and location, location, location.
“You can’t have a laundry room in a loft?”
Huh? I called it a laundry closet, why would one think I was referring to its mere existence?
Look at the breaker panel. Yes, HO installed and removable, but I find things like that indicative of overall care taken–much like the other things I noted.
“Look at the breaker panel.”
I had no idea what you were talking about until I did the walk thru (which I normally don’t do). not a good idea but I’m sure those shelves just pop right off and you can access it if needed.
“When a similar 2/2 in this neighborhood rents for $4,000 to $6,000 a month?”
Zero chance this place would rent for $4000 to $6000(LOL!) a month.
“Zero chance this place would rent for $4000 to $6000(LOL!) a month.”
The nice, brand new 2-bedrooms that are its competition do.
Here’s a newer one. A 927 square foot 2/2. About $4k. And that’s significantly smaller than this unit. Don’t know if parking is extra.
https://www.apartments.com/emme-chicago-chicago-il/70lt9dw/
One bedrooms in this loft building are available for $2450.
I feel like a lot of you who used to live in Chicago but haven’t for years and haven’t rented for years either, have no real idea what is happening in the rental market and how expensive it is now. They are building everywhere but it’s all luxury rental units.
If you want to be in this location, you will pay. A lot. And if it’s new, you will get a much smaller space. Pre-covid they were building some buildings with 1000 square foot 2/2s (which I thought was small) but now they are just 900 square feet. No space for an island. Few closets.
To the rental point–
Crain’s heded this article about rentals ‘affordable’ for HHI from $40k to $100k as:
“Near North Side apartment project would target the ‘missing middle'”
https://www.chicagobusiness.com/commercial-real-estate/citypads-plans-apartments-near-north-side