Looking For A Unique Downtown 3-Bedroom Penthouse? 6 E. Monroe In The Loop
This 3-bedroom penthouse in The Mentor Building at 6 E. Monroe in the Loop just came on the market.
We actually chattered about it nearly 5 years ago when this blog was brand new.
See our December 2007 chatter here.
The unit DID sell in March 2008.
Now it is back on the market but it’s listed as a short sale for $225,100 under the 2008 price.
Who can forget this kitchen?
No standard dark wood cabinets for this unit.
It has cherry wood mode cabinets, Miele appliances and granite counter tops. (See the prior chatter from 2007 for a great picture of the kitchen.)
The unit is duplex up and has vaulted ceilings and skylights on the second level.
All three bedrooms are also on the second floor.
It has north, east and south views.
The unit has in-unit washer/dryer and central air. Parking is available across the street at 8 W. Monroe for $35,000.
At this short sale price, is this a deal for the square footage and the location?
Jenna Smith at Redfin has the listing. See more pictures here.
Unit #1601: 3 bedrooms, 2.5 baths, 2664 square feet, duplex up
- Sold in June 2003 for $660,000
- Sold in March 2005 for $675,000
- Sold in March 2008 for $825,000
- Originally listed in May 2010 for $1 million
- Reduced numerous times
- Currently listed as a “short sale” at $599,900
- Assessments of $1230 a month (includes heat, a/c, cable)
- Taxes of $8415
- Central Air
- In-unit washer/dryer
- Parking available across the street at 8 W. Monroe for $35,000
- Bedroom #1: 18×13 (second floor)
- Bedroom #2: 11×13 (second floor)
- Bedroom #3: 18×15 (second floor)
- Den: 14×11 (main floor)
At first glance, I really like this place, particularly at this price. The alarm bells go off, however, when I see that prior owners are trying to unload, on average, every 18 months (or less, when you consider marketing time). It makes me wonder what kind of shape the building is in – presumably people are aware that this neighborhood is pretty dead on the weekends before they move in.
I’m with Observer. This seems like a steal…
Love the thought of dragging my groceries across state street on a cold blustery day from my vehicle parked across the way. I mean seriously, no garage attached to this building? LAME
who wants ot live in this location unless you live to work
Price seems right if their are no building problems. Could be a phenomenal in-town for someone who works in the loop and lives in the burbs.
Good place for a recently divorced law firm partner…. to be sold when much younger wife wants to “start a family of their own.”
with the new target across the street, it seems a lot more realistic than 2 years ago…
i love this property I am bidding today on it
I agree that it should be under contract at this price. Something is not right. I wonder if it has too high a percentage of commercial tenants for standard financing to get Fannie/Freddie approval limiting it to a portfolio loan status.
How about a corporate apartment for housing in-town workers or clients. This could be a great option an potential money saver for some businesses. Perhaps the condo board at this building has blocked that idea already.If so that is too bad as it is right in the heart of the loop and would be a great use of this property.
As an family in-town the 3 bedrooms, cool vibe, and excellent rooftop access make up for the unusual location. State and Monroe is a bit out of the typical geographical zone for that buyer.