The Cheapest Priced 2/2 in The Heritage: 130 N. Garland in the Loop
We haven’t chattered about The Heritage at 130 N. Garland in the Loop in awhile.
Built in 2005, the building was extremely popular when it first started closings due to its proximity to Millennium Park and the protected east views of the Lake.
It also has an amazing indoor swimming pool and workout room.
Current statistics on the building: (out of 356 units)
- 37 for sale
- 18 for rent
Some units may be both for sale AND for rent.
This 2-bedroom unit on the 18th floor is the cheapest 2/2 in the building and has just been reduced.
It faces west and has the city view. It has the granite kitchen counters and 42 inch cabinets but black appliances (not stainless steel.)
The listing says it has custom paint and mahogany hardwood floors.
Is the building still as “hot” as it was 4 years ago?
Tricia Fox at Keller Williams Gold Coast has the listing. See the pictures here. See more details on the listing here.
Or you can see the actual unit this Sunday, Sep 20, at the open house from 1-3 pm.
Unit #1812: 2 bedrooms, 2 baths, 1100 square feet
- Sold in February 2005 for $386,500
- Originally listed in July 2009 for $470,000 (parking extra)
- Reduced several times
- Currently listed for $429,000 (plus $50,000 for parking)
- Assessments of $443 a month includes cable, doorman, pool
- Taxes of $5133
- Central Air
- In-unit washer/dryer
- Bedroom #1: 14×13
- Bedroom #2: 12×10
I looked at this building in 2006, it’s good we did not buy it! Can’t believe how much the price come down there, does anyone know the renter to owner ratio in this building?
rented here. nice for a rental but the units are very cheap inside. no day-to-day amenities when you walk out the door. (grocery, cafes….) On the west side the L noise is so loud you cannot open your windows…
wasnt this the place Daley was going to move into a while back?
I had no idea that “custom paint” meant painting your living room mustard, your kitchen and bathroom pea soup green and leaving the bedrooms contractor white. Amazing what you learn on here. And the parking is not included (but the listing says it is again – another pinocchio realtor) and it’s $50G. Uh, yea. I wouldn’t rent this place or remotely enjoy coming home to this.
Are they going to keep dropping it $3k every ~2 weeks until they get a bite? They could probably move it around $249, if they included the parking, but at their current pace, they aren’t going to get there until spring.
This place definitely has a rental quality thing going on. Perhaps people are wising up and only buying places that are nicer than what’s available to rent?
The wood floors are nice, but they aren’t throughout. The bathrooms are certainly acceptable but they’re certainly nothing special. I would’ve liked to have seen a nicer shower/tub in this place. I would think that almost Half a mill would get you a bit more – in terms of amenities and space.
And yeah, what’s custom about the paint? Is there some kind of texture that the photos can’t show?
Plus, I went to school at Jackson and Wabash. The el is loud as can be on those elevated tracks. It was audible through the walls and closed windows. If this is on the west side, that balcony isn’t going to see much use without ear plugs.
I never understood the appeal of this building. The location, finishes and developer design where all inferior. Most of the units have electrical panels in the middle of the hallway rather than hiding them behind a door or in a closet. The short windows make the units feel dark and closed in. It is a C building and should sell accordingly. They are even having a difficult time renting the units now. Buyers/renters have so many better options the only way to move one of these units is to keep lowering the prices.
Remember- you can paint it whatever and however you want if you buy it.
pretty amazing that there are less than 10 comments on The Heritage and none very positive. i tend to think they managed to suck people in as the first new entrant on the block, but has steadily devalued since. and probably continues to de-value…
I’m always skeptical when I see these units very close to Millenium Park selling for huge premiums just due to their location.
Yeah it may sound great to suburbanites or out of towners moving here, but everyone I’ve known to live in the Loop has moved out after a few years because being around so many tourists and tourist traffic gets OLD.
I have always thought this building was ‘different’ but I didn’t think it was different in a bad way. Two bedrooms in 1100 sq ft facing the tracks?
Agents need to seriously back off from building up their listings to make them sound like a serious luxury unit. No where in these poorly executed pictures do I see anything that remotely resembles a ‘highly customized’ unit. I imagine the custom paint means they took in a few pieces of fabric and had the HD paint master mix them up a few gallons of Valspar. When I think custom paint, on the low end, I think something like the Ralph Lauren specialty paint line that is applied in one of their faux finish processes.
Sad place.
For $450,000, you can get a larger never-lived in 2bd-2ba from the developer at Joffrey Tower – 8 E Randolph. That price also includes the parking… Joffreytower.com
Regarding Mayor Daley living there, I believe that was a rumor the developer started to increase interest in the project.
It makes sense that they are entitled to 92.5k appreciation since 2005 as the world economy is much larger and things are booming and there are plenty more jobs today than in 2005.
5.5% annual appreciation from 2005 this place is a steal I’m sure it will get “snapped up”.
This is a terrific buy in a great building. You guys really ought to take a happy pill. We have a place here and love it. Where else do you get an Olympic sized swimming pool, steam room, two large terraces, one on the west off the pool (yes, you hear the train – we like it. it’s like Seinfeld. It’s the city! we love that.) and on the 28th floor there is a huge deck looking east so if you have a less expensive place like this one you can always go out on 28 and enjoy the view and read a book or watch the fireworks. Lots of the units are beautiful. They were sold to be upgraded and ours is stunning. I haven’t seen this, but the pictures look fine. And we walk to everything – the Dominicks isn’t far, nor is the Theatre District, 600 and McClurg movie theatres, etc. There are also tons of new restaurants here. Someone is confusing this with a different area I think. And the pedway is attached so if it is cold out you can walk to anything underground.
This is an A building in my book.Why don’t you look instead of just on-line? And yes, the mayor bought here and didn’t move in. No clue why. Does anyone know?
-Buz
Nope… not happenin’. Absolutely nothing special about this unit.
Hey look it makes complete sense this seller is going to get 5.5% annualized appreciation since 2005, as incomes have increased substantially among baby boomer women aged 55-64:
http://www.usatoday.com/news/nation/census/2009-09-17-young-people_N.htm
any one know if the 2005 price was preconstruction? then the 5.5% annualized appreciation since 2005 can be justified somewhat.
another question, isnt all paint actually considered “custom”?
“…another question, isn’t all paint actually considered “custom”?
No, you have pre-mixed colors (usually lower priced lines) and you have the customized colors that are mixed when you buy them.
“and you have the customized colors that are mixed when you buy them”
thats the sarcasm i was trying to point out 🙂
“‘…another question, isn’t all paint actually considered ‘custom’?’
No, you have pre-mixed colors (usually lower priced lines) and you have the customized colors that are mixed when you buy them.”
So, standing in line at Ace Hardware and having the teenager mix and shake the colors for you adds value beyond pre-mixed? This sounds like an HGTV trick.
I want to turn down the rpms of the paint shaker and see what it can do with a Stoli Gibson. Is it wrong to jones for a blue cheese olive at 9:25am?
I rented in here a while back for a couple years….the building lobby is always neat and clean. The doorstaff is pretty good as well. It seems there are corporate rentals going on in the building. The amenities are nice but the interiors of the units were dated when it opened so I cannot imagine how the Legacy will look when/if closings begin (same developer).
“Olympic sized swimming pool”
There’s a 50-meter long and 25-meter wide (That’s 164′ by 82′) pool in the building? The entire building is only about 85 meters by 50 meters at it’s widest points.
I highly doubt that *anyone* would go through the structural gymnastics required to make a span large enough for a Olympic pool and then build a highrise on top of it. There is no way that makes any sense.
Okay, I checked: The Heritage website says the pool is 58′ x 30′, making it about 1/9 the size of an “Olympic-sized pool”. Using that ratio of reality to “Olympic-sized”, one could say this 2/2 covers nearly a quarter acre.
“Is it wrong to jones for a blue cheese olive at 9:25am?”
(1) It’s 5 o’clock somewhere. (2) It’s Friday, so I’m already drinking, what’s wrong with that?
Fairbanks,
did you have a west facing unit? could you debunk the noise claims or agree? also was it weird that the entrance was an alley? since the units are dated do you think the prices is mainly location and views?
bob,
“but everyone I’ve known to live in the Loop has moved out after a few years because being around so many tourists and tourist traffic gets OLD”
but wouldnt that be the same for River North too?
ah, anon beat me to the olympic pool issue. shouldnt have taken that happy pill.
Is the building as hot as it was four years ago? Probably not, but I don’t think many, if any, are. Regarding the finishes, hey that’s what they could get away with at the time the building went to market. Don’t hate the playa, hate the game.
I’ve seen some amazing views in this joint, and there definitely was the buzz about Daley, so it had its selling points. However, I have mixed emotions about the building. I wish I bought a unit when it went to market and then flipped it, but that’s crying over spilled milk. The size and location does and doesn’t bother me depending on the day of the week.
I’m thinking the seller has a bit of a challenge right now and may want to get him/herself one of those St. Joe thingies and try to find someplace to bury it on Garland Ct.
I’m not going to pick on the paint colors, etc., all of that can be changed, the view cannot be changed. In addition to the economy, I reckon those things are working against the sale, so at the end of the day it’s probably going to be reflected in the sales price. As a result, I’d speculate that the building is in post hot status. Just my opinion though, and who am I to talk? I live under a bridge.
It was a west facing unit..up in the high 20’s for floor. You could still hear the train buzz but it wasnt super bad..if you live in the city you expect some kind of noise. It is a great place to rent but I would not buy there.
Funny but one of my buyers just closed on a unit here on Wednesday – an 01 in the tower. Sorry I missed the dialogue here. It all depends upon the view. The units that get some eastern exposure are spectacular and have maintained their value fairly well. Though we got this one at a 12% discount off of the 07 price there were 2 other bids. The 01 we got has a north, west, and eastern view and you are high enough up that you don’t hear the train yet you get to see it rolling around down there – like a toy. Kinda cool.