Studio Dwell 2-Bedroom Loft Reduces Another $45,900: 154 W. Hubbard in River North
We’ve chattered about this 2-bedroom authentic loft at 154 W. Hubbard in River North several times before.
See our December 2010 chatter here.
Since it was first listed for sale in November 2008, it has been reduced $100,000.
It is now listed $34,000 under the 2007 purchase price.
This building was a Studio Dwell loft conversion in 2007 and sold out fairly quickly.
The loft has exposed brick and timber ceilings.
It also has some more luxurious finishes including wide plank hardwood floors, and the kitchen has Italian cabinetry by Copat, granite counter tops and Jenn-Aire stainless steel appliances.
Back in December, several of you thought this would finally sell around $450,000.
And now?
Terri McAuley at Koenig & Strey Real Living still has the listing. See the pictures here.
Or see it in person at the Open House, Sunday Feb 27 from 12 – 2 PM.
Unit #404: 2 bedrooms, 2 baths, no square footage listed
- Sold in October 2007 for $577,000
- Was listed in November 2008 for $599,000 (plus $35k for parking)
- Was listed in February 2009 for $599,000 (plus $35k for parking)
- Withdrawn
- Was listed in June 2010 for $589,000 (parking now $30k extra)
- Reduced in August 2010 to $549,900 (plus $30k for parking)
- Was still listed in December 2010 at $549,900 (plus $30k for parking)
- Reduced
- Currently listed at $499,000 (plus $35,000 for parking)
- Assessments of $220 a month
- Taxes are $5692
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×15
- Bedroom #2: 11×10
- Living room: 16×24
- Dining room: 10×9
- Kitchen: 13×9
I love the tricks some realtors play – “let’s reduce the property by $50k but increase the parking by $5k. Maybe idiots won’t notice”
SOLD!
That second bedroom is small. The desk, dress and full size bed don’t fit.
yeah it is, I have a 12×10 2nd bedroom and i have a hard enough time with a queen size sleeper sofa and an entertainment center
well, they are just on their way to reasonable town then, huh?
I still dont see paying half a million dollars for this place. It is on the noisiest part of Hubbard close to all the nightclub action. Its a zoo around there on weekend nights and that would get old really fast. I also think there are much nicer units in RN for that price. There are units at The Sexton that have that timber loft vibe for better prices. Its only 2 bedrooms and its rather dark. I am not impressed. What am I missing?
Matt – I have to agree with the realtor trix here…
Hmmm… they say that the real estate market is tanking, but I haven’t seen any reports on the parking market… Condo down, parking up!
complaining about noise in the city? lol
What about sound transmission between in these kinds of places?
I can’t see spending this kind of money on a place and having to hear your neighbors, or having to keep your music/movie volume turned down as to not disturb the neigbors…
sound transmission in-between units, I meant…
o/t alert:
now that’s a price drop!
“SOME MINOR UPDATES”
whoops, forgot the link:
http://www.redfin.com/IL/Chicago/3249-N-Hoyne-Ave-60618/home/13386096
I dont mind city noise. I live in RN and there is plenty of city noise. I rather like it. However, I dont like the noise at 2 am coming from drunk trixies and club goers. And this place is right there.
“o/t alert:
now that’s a price drop!
“SOME MINOR UPDATES””
Well, that’s one way to attract attention.
“they say that the real estate market is tanking, but I haven’t seen any reports on the parking market”
I just saw a river north parking space sell for $10,000. I can’t remember the address- but maybe one of the Kingsbury buildings? It was bank owned.
So the parking spaces that are deeded separately are going into foreclosure too (and prices are also dropping.)
I like a lot of Studio Dwell’s projects and think that the design is worth the premium that one has to pay. This is not one of those projects. Looks like any number of lofts in Chicago with slightly better finishes. I do like the tall doors.
Like it. Problems:
1) Think it is still considerably over priced in this market at $499K + parking. Personally, I don’t see the market turning around in the near future and expect more bank owned properties to hit the market to make things rough for sellers.
2) Not too worried about outside noise, but agree with nwzimmer. Typically one hears lots of noise from above unless you are penthouse and this isn’t. Friend lived in one and whenever someone walked across the floor in hard soled shoes, click, click, click… But that’s the downside to loft living and rafter floors vs cement floors.
I have been in another unit in this building and was not so super impressed with the build-out that I thought it was worth such a huge premium. However, it’s hard to believe that there’s not a buyer for this around $430k with parking. At that price point a buyer is about $100k below asking. My guess is there have been some offers in that range and the seller is holding out in delusion or, it sounds like, because he or she has no need to sell. Haven’t CCRD’d and done the dd like it sounds like a few have for this one.
Regarding the street noise and the loft style, I’m going to turn a new phrase here: YANEB – YOU ARE NOT EVERY BUYER. This is obviously a desirable place to live and play, and it’s very close to work for what, 100,000 buyers and renters with the income to buy or rent here? Too many posters here are acting like the question is “tell me your exact preference – why isn’t this place right for you?” That question bores me – I am interested in “what do people’s aggregated preferences and market conditions tell you that this place could sell for right now or soon?”