Get a 2000 Sq Ft Private Terrace in the West Loop: A 2-Bedroom at 1200 W. Monroe
This 2-bedroom in The Metro at 1200 W. Monroe in the West Loop came on the market in November 2022.
Built in 2003, The Metro has 136 units and heated garage parking.
It has doorstaff and a gym in the building.
This unit has been updated with the listing stating: “Current owners were not intending to sell and spared no expenses when making recent updates.”
It’s a corner unit with floor-to-ceiling windows with North and East views and exposed duct work. It has dark engineered hardwood floors in the main living spaces and new carpet in the bedrooms.
The “updated” kitchen has white cabinets, a quartz marble tile backsplash from Turkey, soft close cabinets, a Bosch dishwasher, Wolf microwave, Bosch refrigerator with water dispenser and ice maker inside the freezer, a chef quality Wolf gas range with a Zephyr exhaust, and an island with unique black cabinets with double thick quartz countertops and room for stools.
The primary suite has room darkening shades and the en suite bathroom has a double vanity, shower and soaking tub.
The second bathroom has an “updated” shower.
It has new RH sconces in the hallway and a gas fireplace with a TV above the fireplace which swivels.
But it’s most unique feature is its massive 2000 square foot private terrace with built-in irrigation system, newer floor tiles and turf area. It also has 2 sheds to store gardening equipment.
In addition to the big terrace, there is also a small balcony off the dining room.
This unit has the features buyers look for including washer/dryer in the unit, central air and one heated indoor parking space is included.
It also has a new Trane furnace.
This building is near dog parks (the listing says there’s no weight limit on pets but you’re limited to 2), restaurants, the highway and public transportation.
Listed at $850,000, that’s $185,000 above the 2020 sales price of $665,000.
Buyers love “new.”
Will this unit sell quickly?
Andrew Tsoukalis and Megan Livatino at @Properties Christie’s have the listing. See the pictures and floor plan here.
Unit #301: 2 bedrooms, 2 baths, 1338 square feet
- Sold in June 2003 for $365,000
- Sold in September 2006 for $445,000
- Sold in November 2010 for $385,000
- Sold in November 2020 for $665,000
- Currently listed at $850,000 (includes heated indoor parking space)
- Assessments of $707 a month (includes heat, gas, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal)
- Taxes of $9447
- Central Air
- Washer/dryer in the unit
- Gas fireplace
- Bedroom #1: 14×13
- Bedroom #2: 13×11
- Living/dining room: 23×14
- Kitchen: 12×9
- Laundry: 10×10
- Balcony: 6×10
- Terrace: 39×51
This is 1200is sf
The outdoor space might be too much
“This is 1200is sf”
They aren’t deducting for walls, columns, etc., and the 1338 almost certainly includes the balcony, but it appears accurate to me for that measurement approach. About 1275 without the balcony.
“outdoor space might be too much”
Making that space as nice as the kitchen inside is a ~$200k ($100 psf) endeavor. And then you still have those builder grade bathrooms and carpet and less than 1300 square feet.
Highest 2/2 sale in the building other than this one appears to be:
https://www.redfin.com/IL/Chicago/1200-W-Monroe-St-60607/unit-904/home/12628986
And the highest overall appears to be…
https://tour.vht.com/392277182/1200-w-monroe-906-chicago-il-60607/idx
which sold for $1.225 in Aug-20. And in dire need of updates throughout.
Being close to 2x psf of anything else in the building–great outdoor space or not–is usually not a great idea.
I am aware of the construction challenges of having unique floorplans on lower floors, but all the units with these big terraces seem suited for having bigger units attached–have this as a well laid out double unit, and spending for a baller terrace seems much more reasonable.
Nothing private about that private patio.
“Making that space as nice as the kitchen inside is a ~$200k ($100 psf) endeavor. And then you still have those builder grade bathrooms and carpet and less than 1300 square feet.”
You could just put in a couple pickleball courts for cheap and call it good.
what’s up with the ugly “art” on the pillars outside the front door of the building and in the lobby… looks like some crap you’d see in a K-5 school hallway
It’s city living. I don’t think many are that concerned that the terrace isn’t completely “private.” Your backyard on a single family home isn’t “private” either. However, a pergola would offer you some more privacy. Or some bigger landscaping. But it costs money to do all of that.
“However, a pergola would offer you some more privacy. Or some bigger landscaping. But it costs money to do all of that.”
Jan Terri told me her pergola cost $142k
Decent interior and the location is good, but the exterior has a generic, institutional look that’s hard for me to get past.
Coming close to matching the terrace finishes here might make it worth it:
https://www.redfin.com/IL/Chicago/2753-N-Hampden-Ct-60614/unit-2c/home/144232687
but what’s that cost? Gotta be at least $50k (hahaha)