Crib Chatter

This 2-bedroom loft in the Gotham Lofts at 420 S. Clinton in West Loop Gate just came on the market.

If this loft looks familiar, that’s because we chattered about it back in July 2018 when it was first listed.

In 2018, many of you thought this neighborhood, which includes Union Station and the now renovated Old Post Office, was “dead” after 7 and had little going for it.

You can see our chatter here.

The Gotham Lofts is an old GE brick factory that was converted into condos during the loft conversion craze of the late 1990s and early 2000s.

The building has 188 units and both indoor and outdoor parking.

While it has an exercise room, it doesn’t have any other amenities. And it doesn’t have a doorman.

If you recall, this loft has a rare layout which has 3 exposures with windows on three sides of the unit.

As a result, both bedrooms have windows. Even the master bedroom closet has window.

The listing says this loft has been “interior designer renovated.”

It has exposed brick walls and timber ceilings with hardwoods throughout. The living/dining area has the original hardwoods, stained dark, and the bedrooms, which had carpet, now also have the dark hardwood floors.

There’s a linear gas fireplace and 3 chandeliers.

It has a new contemporary kitchen with a Calcatta Quartz waterfall island, a double oven, a wine fridge and stainless steel appliances.

The master bedroom has a 32 square foot shower and a modern vanity.

It has a separate laundry room, with rare side-by-side laundry.

The loft also has two balconies, one in the master bedroom and one in the living room.

It has the other features buyers look for including central air and indoor heated garage parking.

When we last chattered about this loft in 2018, the Old Post Office was still under renovation. But in 2020, there are now companies operating in the building even as further renovations continue, including to the river front area.

Amtrak is also in the process of renovating Union Station, including adding a food hall this year.

It’s within easy walking distance of Greektown and is a quick Uber to red hot Fulton Market.

Listed at $688,000 in July 2018, it has been on, and off, the market ever since.

It came back on in 2020 at a higher price, at $724,000.

With low inventory, and record low mortgage rates, will this loft finally sell, and get the higher price, in 2020?

Alexandra Englehardt Walschot at @Properties still has the listing. See the pictures here (the old listing had a floorplan, but this new one does not.)

Unit #518: 2 bedrooms, 2 baths, 1900 square feet, loft

• Sold in August 1999 for $314,500
• Sold in November 2017 for $435,000
• Listed in July 2018 for $688,000 (includes the heated garage parking)
• Delisted and Relisted in 2018 and 2019
• Currently listed at $724,000 (includes the heated garage parking)
• Assessments are now $899 a month (they were $812 a month in July 2018)(includes exercise room, security system, exterior maintenance, lawn care, scavenger, snow removal, parking)
• Taxes are now $10,199 (they were $9018 in July 2018)
• Central Air
• Washer/dryer in the unit
• Fireplace
• Bedroom #1: 20×15
• Bedroom #2: 13×13
• Living room: 14×18
• Dining room: 14×18
• Kitchen: 20×9
• Family room: 28×18
• Laundry room: 8×5
• Walk-in-closet: 9×8