Live in the Heart of the Loop for Under $200k: 20 N. State in the Loop
20 N. State in the Loop was converted into lofts in 2003.
There are many different layouts in the building but the top floor units have 18-foot concrete ceilings and lovely authentic brick walls.
This 1-bedroom makes good use of the high ceilings by duplexing up and creating, essentially, a den or dining room on the first floor.
The building doesn’t have parking but living in this location means you don’t need a car, right?
This 1-bedroom is also the cheapest in the building.
Linda Hoffman at Prudential Preferred has the listing. See more pictures and a virtual tour here.
Unit #1002: 1 bedroom, 1 bath, 716 square feet
- Sold in May 2003 for $123,000
- Currently listed for $198,000
- Assessments of $361 a month (includes heat, AC and the internet)
- Taxes of $1866
- Central Air
- Washer/Dryer in unit
- No parking
- Living room: 21×11
- Dining room: 10×9
- Kitchen: 11×6
- Bedroom: 11×9
My work bag has more square footage than this place.
Small, but priced right. I’d rather live here than some gold coast studio for the same price and worse assessments that don’t include utilities.
Agreed. This seems to be the right price. I’m sure some young yup will snatch it up.
Given the location it doesn’t seem like too bad of a deal for 200k. Also for duplex-ups like this I think we should count the square footage of the bedroom as well. If the ceilings are 7ft thats fine with me as I and 99.99% of other people aren’t that tall.
In any case I don’t see the purchaser losing a lot of money on this over time, assuming it sells for around ask and not for 240k after a bidding war, that is.
It’s cute but overpriced and small. I would have loved a place like this in my 20s.
Regarding the carpet-tile-hardwood floor combo in such a small area–WHY?
I don’t like that kitchen/living room setup and yes, they should have just made it all hardwood flooring instead of the weird tile/hardwood mashup.
The place would look much better without the terribly assembly of “eclectic” furniture/styles. That bedroom demands a much lower bed.
I don’t like it at the current price. Though, closer to the 2003 price would make it more appealing. But really, I have a wife, two small boys with a third on the way and a 65 lbs lab. This place wouldn’t work for me at any price.
I would check to make sure when buying into one of these buildings that ALL the facade work was done, done properly, and that the association has a maintenance plan in place. A lot of these older commercial buildings along State Street have been majorly neglected and are – I should say have have – massively deteriorated – facades primarily.
With a little work (new kitchen, stairs and flooring) this would be an incredible unit. Is A/C & heat actually fully included or would one have to pay electric on a blower here?
Just did a search and saw that there are multiple units in this building for sale, including a 2/2 for only $30K more.
“That bedroom demands a much lower bed.”
I totally agree, ME. Unless one is a hobbit, I imagine smacking your head on the ceiling beams could be a real possibility. And I suspect the stairs to the loft is up to code.
Oops, should have been “not up to code.”
A lovely place for the permanently single. Not a good investment for anyone else in this climate.
a perfect pied-a-terre for a suburban couple or exec that lives in a far suburb of DuPage or Lake County.
I lived in the building from 2003 (original buyer) till 2007, and have been in this unit.
A few things about the building… There are a lot of investment units, however it was generally well run. As for the facade, they have gone through the inspections, and that is not going to be an issue any time soon. The HVAC is included in the assessments, but it is a two pipe fan coil system.
I would note on this unit, that the ceilings are 16′, not 18′, and this unit faces the alley side… It does get light because it is the top floor, but not a lot, and there is no view. The carpet/tile thing was from the developer (Smithfield).
The location is fantastic, but not really family friendly.
not sure what the official code is, but if you look closely you can see that on one side of the stair you could fall directly into the window. That just doesnt seem very safe.
At the original purchase price of $123 back in ’03, there is a lot of room for the seller to move. That is unless they went nuts with a HELOC and are not underwater. Didnt have a change to look at the CCRD yet.
am I crazy to say I actually sort of like it (maybe not at this price, but 150 would be sweet)? I’m a RE newb, I admit, but is the resale value really that hindered buy the things it lacks? it’s a niche place, but if the market comes back over the next few years even this modest studio (or whatever you’d call it) would enjoy some appreciation, methinks.
“not sure what the official code is, but if you look closely you can see that on one side of the stair you could fall directly into the window. That just doesnt seem very safe.”
Drew Peterson just put in a bid on this place!
Since he’s a cop, he can keep his van parked in the alley with trap door roof open under the windows here, right?
Sonies on June 9th, 2009 at 10:08 am
Small, but priced right. I’d rather live here than some gold coast studio for the same price and worse assessments that don’t include utilities.
C’mon, Sonies, don’t you want to buy my Gold Coast studio? The assessments do include utilities. All of them.
Dollface,
Consider a per cubic foot cost. I’d be willing to bet this place costs less than half of yours on that measurement. The super high ceilings with the duplex really do make this more than 700sf.
Great layout but who on earth would want to live in the Loop?
This unit is $277/sq ft and mine is 269 and I have a doorman, and the lake and the Gold Coast.
Dollface,
Do you have 14ft ceilings? Arguably this unit has the lake as well.
Remember on a total volume basis this place is probably almost twice as big. Which means you can get more space out of it by doing the duplex thing like this owner.
But yeah you do have the neighborhood advantage. I know a lot of people are drawn to the GC but don’t know of any who have lived here for any amount of time that are drawn to the Loop proper.
“C’mon, Sonies, don’t you want to buy my Gold Coast studio? The assessments do include utilities. All of them.”
And how much are your assessments exactly?
And um, pass on the studio, I lived in a Jr. 1 bedroom near the lake when I first moved here with my now wife and would probably kill myself or my wife if I only had 500sqft to live in. But we just recently purchased a 2/2 in RN two months ago, so I’m ok for now. I don’t think now is a good time to flip anything 8)
And I’ve always found doormen to be useless and annoying. Just install a call box, and have a package room. Bam! your assessments are now like $200 a month cheaper.
These units sold out very quickly in 2003. The developers underpriced them- people were buying several units.
Of course nearly everyone on this board thinks they suck. What else is new? These fools can’t even appreciate million dollar homes without complaining about the heating bill, cold floors, bookshelves, color choice, noisy fridge…blah blah blah.
This building’s assessments are very expensive – its because of how the building was built and has something to do with the water pipes, etc. It is cheap but the assessments are too much relative to the size of the units even though there is no doorman and no pool, etc.
The Price Is Right, Bob.
It’s irrelevant whether they had the facade inspections, there still has to be a maintenance plan – with assessments that low, unless the commercial spaces contribute somehow, I’d be concerned about being hit with a large special due to small reserves.