The Million Dollar North Center Loft: A 2-Bedroom at 1800 W. Grace
This 2-bedroom loft at 1800 W. Grace in North Center recently came on the market.
The listing calls it “New York style” with floor-to-ceiling windows, exposed brick and concrete ceilings.
There is a 60-foot terrace that runs the length of the loft.
The kitchen has modern cabinets and finishes with stainless steel appliances.
There is central air, washer/dryer in the unit and 2-car garage parking included.
This loft is listed at $995,000 which would rank it among the most expensive lofts in North Center.
At $506 a square foot, can the North Center neighborhood support this price point?
Brad Lippitz at Berkshire Hathaway KoenigRubloff has the listing. See the pictures here.
Unit #508: 2 bedrooms, 2.5 baths, 1965 square feet
- Sold in May 2010 for $706,000 (included 2-car parking)
- Currently listed at $995,000 (includes 2-car parking)
- Assessments of $619 a month (includes cable)
- Taxes of $11,608
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×12
- Bedroom #2: 18×11
- Terrace: 60×5
No, this is rather greedy and likely a market miscalculation. But it doesn’t take much effort to put a line in the water to see what might come up so some people will do just that.
Can’t you get a SFH in the green zone for $1mm? I would rather be a land owner if I’m dropping that much coin for a property.
Appears to be on the el side, rather than the metra side.
I saw this on curbed like a week ago…
Grossly overpriced. Worth no more than 700k.
I’ve been in this building a few times and generally like it. However, at that price point I’m buying a house in the area.
There’s that $500 psf price again!
Sink is too far away from stove. Terrace is great. Views are awesome as is the privacy. As far as condo living goes this place offers alot, but it’s still only a 2 bd, therefore not worth $1 mil.
“However, at that price point I’m buying a house in the area.”
Not a nice house.
Also, among those that want an nyc loft lifestyle, are you really living in the backwaters?
“However, at that price point I’m buying a house in the area.”
Incorrect. We almost put in an offer on this very nice house right next to this place. https://www.redfin.com/IL/Chicago/3831-N-Ravenswood-Ave-60613/home/18662790
There were a few deal breakers for us so we let it go.
New construction, 5 bedroom, very nice home. Light years above this 2-bedroom ‘loft’ And with the assessments at 1800, the asking prices on these two places were the same. Anyone who buy this place at 1800 for anywhere close to a million dollars is making a big mistake
I meant to quote DZ’s comment of “Not a nice house.” My argument above is that it is infact possible to get a very nice house in the area for this price. Strangely, there does not appear to be anywhere on this site to edit a submitted comment.
“There were a few deal breakers for us so we let it go.”
Like having the Metra run in front of your house?
“Incorrect. We almost put in an offer on this very nice house right next to this place.”
Maybe I should have said nice house w a yard on a full lot, aka nice house.
“Strangely, there does not appear to be anywhere on this site to edit a submitted comment.”
that is the cribchatter way.
“Like having the Metra run in front of your house?”
I’d take the Metra across the street over the el 25′ below my terrace.
I’d live in that Ravenswood house, but not at that price.
anon – i agree. for a million dollars I don’t want to see a train/el line.
“Like having the Metra run in front of your house?”
I thought we are comparing this to the property in question….1800 grace sits smack between the El and Metra. This particular unit is right on the much louder and more frequently used El tracks. The comment was that at this price you could have a SFH….I am in agreement with that statement. Will this home be perfect in every way, no? But it will offer much more than this overpriced 2-bedroom.
Good catch on the El tracks. Wow. Google Earth – street view it from Bernice Ave west of the El and you can see it in all its glory.
OH!!
The square footage includes the terrace! It’s actually 1665 of inside space–so $600 psf.
I noticed bc I was thinking that the price might be ok if it were a 3/3.5, and the terrace were more like 8 or 9 feet deep, and looking at the floorplan.
Positive: There are actually windows in all the bedrooms and the space is nice.
Negative: the nonsense soft loft piping which looks ugly to me.
I like real lofts as long as the floor plan is not pathetic, but some ugly ducts here and there does not excite me.
“anon – i agree. for a million dollars I don’t want to see a train/el line.”
You would have to rule out all of River North and the entire Loop then as well as a good portion of Lincoln Park and Lakeview.
I used to live in a high rise in River North that was a block from the underground Red Line and I could hear it loud and clear in my 10th floor apartment. Seemed weird to me but there are grates or whatnot where the air comes up and the sound travels straight up the high rises. Sometimes I could even hear people’s conversations at night down at the street level. That’s how amazing the sound traveled right up the building.
“Strangely, there does not appear to be anywhere on this site to edit a submitted comment.”
You cannot edit a comment once it goes through. This is not the Disqus system where you have to be signed in with your real name so it has those features. Sorry. There are pros and cons to every commenting system.
“I saw this on curbed like a week ago…”
I don’t read Curbed. I don’t care what they do.
But, you’ll recall, in 2013 when inventory was also this tight I think you said the same thing as there are only like 30 properties in the GZ coming on per day so what are you going to write about?
Those poor Curbed bloggers have a set number of posts they must do every day. It’s a part-time job for most of them. The pay can’t be great. Maybe it’s students or something doing it. Please be nice to them.
“Can’t you get a SFH in the green zone for $1mm? I would rather be a land owner if I’m dropping that much coin for a property.”
It depends on which part of the GZ.
You can still get it in Bucktown and parts of Wicker Park. Some areas of North Center have them under $1 million. But it’s slowly moving higher. If price increases continue at the pace they are right now, you will need to be very, very rich to live in the GZ.