Get a 2/2 Substation Loft For Under $225,000: 1128 W. Ardmore in Edgewater
This 2-bedroom in the Substation Lofts at 1128 W. Ardmore in Edgewater came on the market in August 2013.
It is a short sale.
This former Commonwealth Edison substation was converted into lofts in 2006.
This loft has 18 foot concrete ceilings with exposed brick walls.
The kitchen has 42 inch maple cabinets, granite counter tops and stainless steel appliances.
The bathrooms are marble.
It has central air, washer/dryer in the unit and 1-outdoor parking space included.
Yes- that’s the Red/Purple Line El tracks next to the building.
This unit has reduced $15,000 to $225,000 in the last month.
Is this a deal even with the El next to the building?
Santiago Moreno at Prudential Rubloff has the listing. See the pictures here.
Unit #13: 2 bedrooms, 2 baths, loft, no square footage listed
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- Sold in March 2007 for $312,500 (or some places say $319,000 or even $340,000). Suffice it to say- it was in the $300,000s.
- Originally listed as a “short sale” in August 2013 for $240,000
- Reduced
- Currently listed as a “short sale” for $225,000
- Assessments of $226 a month
- Taxes of $3600
- Central Air
- Washer/Dryer in the unit
- 1 car outdoor parking included
- Bedroom #1: 13×12
- Bedroom #2: 12×11
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“Subject to short sale”
Meaning the bank has NOT approved the short sale or short sale price.
In other words, don’t waste your time until this is in official foreclosure.
It’s a cool, unique little building and the units are pretty cute. But….
– Literally right off the train tracks. Good morning, commuters!
– East of Broadway (gasp!). The occasional drug dealer does show up shot to death in nearby alleys. Now, unless you’re both (A) a drug dealer and (B) like to saunter around in the wee hours of the morning, you’ll probably be okay….but it’s certainly not West of Broadway, which may as well be on a different planet (very quiet, very safe).
– Elderly CHA highrise to the immediate west.
This building is sandwiched between the CHA highrise and the train tracks. Which is a damn shame.
I can’t help liking this complex. The units have a lot of possibilities beyond what was done with them. But the location, hard up against the el tracks, would be a complete deal killer for me and a lot of other people. You have to stand in the place for a while, while a dozen trains squeal by every 4 minutes or so, to appreciate how ungodly the noise is and what it will do to your nerves and temper after a short while. It is not healthy to live with so much really loud noise nearby.
East Edgewater (east of Broadway) has become fairly safe – FAIRLY- though Edgewater Glen (west of Broadway) is much safer. The CHA highrise for the elderly presents no problems and is a good neighbor. By and large the nabe is great, and very convenient.
It’s the train noise, and the rather shoddy rehab, that kills these places.