Pre-Foreclosure: Heartbreak Lofts Living Up to Its Name
We are now starting to see the stresses of the slowing housing market in trendier neighborhoods of Chicago.
I couldn’t resist commenting on this loft on Craigslist that is in pre-foreclosure in the West Loop if only because of the name of the building: Heartbreak Lofts.
17 N. Loomis #2K, 2 bedroom/2 bath, 1700 square feet, original white kitchen and baths (aka, not updated from when it was an apartment)
Heartbreak Lofts was one of the buildings in American Invsco’s Loftominium World conversion in the West Loop from 1997-2001. These were a group of buildings that Invsco bought from Annie Properties, a longtime west loop landlord, who had converted old factories into apartments starting in the mid-1980s.
This unit was originally purchased in January 2006 for $378,000. It’s been on the market for over 400 days (originally went on the market in July of 2006.) Only recently have the ads said it’s in pre-foreclosure.
Original List: $399,000
Current List: $350,000
Owner Paid: $378,000
Unit 3K is also on the market. Originally listed in February for $394,000. Currently listed for $374,000. It has updated kitchens and baths.