How About a 2-Bedroom Duplex Loft For Just $105,500? 50 E. 26th in Bronzeville
This 2-bedroom loft in the Bronzeville Lofts at 50 E. 26th in Bronzeville just came on the market.
It is bank owned and listed at just $105,500.
We last chattered about one of these authentic lofts in August 2012. See that chatter here.
This one has 1660 square feet on two levels with a balcony with skyline views.
It has 20 foot ceilings in the main living area.
From the listing pictures it appears that the 2 bathrooms are intact.
The kitchen has maple cabinets and black appliances.
It has central air, in-unit washer/dryer and parking.
Who says you can’t own near downtown on the cheap?
Michael Scola at Re/Max Partners has the listing. See the pictures here.
Unit #402: 2 bedrooms, 2 baths, 1660 square feet, 1 car parking
- Sold in July 2005 for $279,000
- Sold in February 2006 for $311,000
- Lis pendens filed in August 2010
- Bank owned in March 2013
- Currently listed for $105,500
- Assessments of $520 a month (includes cable) (last year there were comments about a special assessment in the building)
- Taxes of $3978
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 20×17 (second level)
- Bedroom #2: 14×11 (main level)
I didn’t know where this was so I google mapped it and did a street view. One positve, it won’t be hard to get a cab around there.
What’s the rental market like around there?
Wow, what a beautiful loft and what a beautiful price. I’m really tempted…. or was tempted until I saw the HOA, which does NOT include the heat, but does include cable TV, an amenity for which I have no use whatsoever. Moreover, the heat bill for this place will be a killer. This is no way an inexpensive place to live- your monthly cost, not considering a mortgage, will easily be $1000.
I wonder what the special assessment was for.
It is an intriguing place, though. The main bathroom could use some upgrading- there’s space for a much larger tub, and it could use a better-looking sink.
Great place for the right person.
Great for car horn aficianados
I’ve been in the owner’s office of CCC, what a trip… he’s got a giant chess board in there and the office is actually really nice, if uh Russian mobster styling is your sort of thing… the rest of that place though is a total dump and I would NOT want to live near it
“your monthly cost, not considering a mortgage, will easily be $1000.”
Just your taxes and assessments will be about $850. Wouldnt be surprised at all for a heating bill to run $500 on average in the winter for 20 foot ceilings and 1660sqft. 1350 + mortgage (apx 400) =1750. Includes parking…not terrible.
“What’s the rental market like around there?”
Cant say I’ve looked here, but I would imagine you could rent it out to nurse roommates or perhaps even IIT students (tho thats a stretch) who want to be close to work/school and not pay downtown rent. Aside from being about to hail a cab, not sure what else goes on over here.
“Wouldnt be surprised at all for a heating bill to run $500 on average in the winter for 20 foot ceilings and 1660sqft”
Its a top floor unit… so no.
Maybe 250… maybe, if you keep it at 75 or something crazy warm
sonies, the heat bill for a 1350 sq ft with exposed brick exterior walls and ceilings 9′ could easily run $250 in the coldest months. I know- I have a friend who got a bill like that for such a place.
20′ ceilings, a lot of glass, and exposed brick walls= monster heat bills, easily $500.
A friend has a 950 sqft loft w/ 14 foot ceilings in RN and shes rung up $400+ bills. Thats a whole lot of space to keep warm. And as Laura said, the exposed brick and windows just add to it….so yes.
Your friend is a moron for racking up such a huge bill in such a small space
No surprise its a woman…
Tell her to put on a frickin sweater, and check the windows for leaks and to make sure they are closed all the way…
“Your friend is a moron for racking up such a huge bill in such a small space
No surprise its a woman…”
Lol. I dont go over there for her intelligence…plus its always warm!
LOL!
sonies, the sexist remark was uncalled for. Financial idiocy is equally represented in both sexes and all genders. Women like that one are offset by guys with their boats and cars.
AMERICANS of all descriptions are the world’s biggest energy-wasters.
When I was younger, I had a female roommate who would often turn the thermostat down to zero when she got too hot. She wanted immediate cool relief. Then she’d leave for the day…forgetting to turn it back up. There were many evenings I’d come home, reach for the front door knob, and it would be like grabbing an ice cube. A sign of the icebox I was about to walk into. At least our AC worked amazing well.
I’ve been in – it needs some love but overall in good shape. Looking at it for student roommates, they like it. The balance of the special (no idea yet what it was for) is a little over $12k, paid at closing. Despite a requirement that a Heat Disclosure be provided when heat isn’t included in the assessment there isn’t one posted. I’ve asked but haven’t received. The place has been showing non-stop since it was listed – an agent even swiped the keys first day on the market – apparently she walked right past 2 groups waiting at the lockbox for the keys to be returned (including me) and submitted an offer. Yes, that’s the market we’re in all of a sudden.
I’m not surprised, wtr. This price is clearly to get a bidding war. Another unit is under contract in the high $180’s.
Great location to rent! IIT, Mercy, anyone who wants to be in/close to south loop but pay less…. Prairie Shores and Lake Meadows with their ton of apartments are just to the East and they sure seem to get lots of people that want to rent.
This sure doesn’t bode well for the value of my 3/3 13 blocks south…..
“Lol. I dont go over there for her intelligence…plus its always warm!”
I guess I should have just asked if she was a nudist?
We had contracts on units 403 and 404, last summer. Bank would not pay the special on each unit, which was 20k. Special was for work on parapet wall and facade. In retrospect, glad that we did not purchase either unit. Spending so much on assessments and then, the gas bill in the winter. Your mortgage would be less. If there was a doorman and possibly a pool, the assessments would make sense to me. I do think the area has potential, in say 5 years.
Its definitely going to go over asking price! After the special assessment is paid HOA will be $480. View on this thing is wonderful! Does anyone knows what was this building before it was turn into residential?