This Corner 2-Bedroom West Loop Loft Has Reduced $20K In the Last 10 Months: 210 S. Des Plaines
We last chattered about this corner 2-bedroom loft in The Edge at 210 S. Des Plaines in the West Loop in August 2011.
See our prior chatter here.
At that time, we wondered if the seller would be able to command over $400,000 for this former developer’s model.
It’s 10 months later and the loft is now priced at $400,000.
The Edge consists of a brick base, which was converted into lofts, and a high rise tower that sits on top of the brick building.
The loft has northeast views, tall ceilings and exposed brick with city views.
The master suite has full walls but the second bedroom has only partials.
The kitchen has the finishes you would expect from 2005/2006 construction including 42 inch cabinets, stainless steel appliances and granite counter tops.
Back in August, some of you thought this would likely sell around $375,000.
But with the market allegedly improving, does it make sense to hold out at the higher price?
Jean Metzler at Conlon still has the listing. See the pictures here.
Unit #507: 2 bedrooms, 2 baths, 1520 square feet
- Sold in December 2005 for $460,000 (included parking)
- Originally listed in May 2011 for $420,000 (includes parking)
- Was still listed in August 2011 at $420,000 (includes parking)
- Reduced
- Currently listed at $400,000 (includes the parking)
- Assessments of $594 a month (includes heat, a/c, gas, doorman, cable)
- Taxes of $5438
- Central Air
- In-unit washer/dryer
- Bedroom #1: 15×14
- Bedroom #2: 10×12
Looks like they should have been listed just under $400K from the start. I think that it might have sold by now. Most sellers still hold out for a while to test the market. I guess that is fine if they are not trying to get out and move on with their lives. Looks like the link that I posted from that thread actually sold pretty quickly although it closed for $357K which is likely way lower than these sellers will expect to get.
Maybe Sabrina should realist this place and give it a better title. “Prices fall over the Edge”
.
BTW Sabrina when do we get photos from whatever exotic location you went to for vacation a few weeks ago? I’m not going anywhere this month and have the travel blues! How about putting up a listing to review the price of a beachfront mansion on the island of St. Bart’s. Perhaps we could debate the pros and cons of buying a rental home in a planned community like Peninsula Pappagayo in Costa Rica. I truly wonder what has happened to values on all the condo’s in places like Puerto Vallarta. Have they plummeted as a reaction to lower travel due to the drug cartel violence?
Give us a spring break feature! Maybe at least a lakefront home in IL?
sure this got mentioned in the last thread, but a 20+ story office building will (in all likelihood) soon block the nice view of Sears Tower, etc. still will have some nice light and there is much to like about it…
$350K is probably the tippy-top of current fair value. $230/SF…too many 2/2 lofts right nearby going for closer to $200/SF for this place to command more value.
especially with that view about to disappear. perhaps they are holding out hope for a clueless buyer because that’s what it will take anywhere near $400K.
This is the building that has a modern condo building growing out of the middle of a converted loft building, right?
“modern condo building growing out of the middle”
That is the place!
“modern condo building growing out of the middle”
Sure does! I lived in this building for a year in 2010, in a jr. 1bdr (studio) on the 21st floor (technically the 20th because they don’t have a “13th” floor) – nice unit, enjoyed my time there, friendly doormen/women. The door to my unit though was crooked because the building had started to slant ever so slightly, allowing you to actually see about a quarter of an inch into my apartment on the very top where the door met the door frame…doesn’t seem like much but for something built in 2004….it makes me wonder about how worse it could get in another 10 years.
This seems vastly overpriced. I wonder if they are even getting showings.
“BTW Sabrina when do we get photos from whatever exotic location you went to for vacation a few weeks ago? I’m not going anywhere this month and have the travel blues! How about putting up a listing to review the price of a beachfront mansion on the island of St. Bart’s. Perhaps we could debate the pros and cons of buying a rental home in a planned community like Peninsula Pappagayo in Costa Rica. I truly wonder what has happened to values on all the condo’s in places like Puerto Vallarta. Have they plummeted as a reaction to lower travel due to the drug cartel violence?
Give us a spring break feature! Maybe at least a lakefront home in IL?”
Sabrina I wanted to support JP’s request. Any thoughts on something like this? I support both the local lake house (north shore or chain of lakes), domestic (miami, naples) and international.
Props to the photog/stager. Some of the best photos I’ve seen taken at the best time of day to show off this place. Realtors, take note.
“This seems vastly overpriced. I wonder if they are even getting showings.”
I agree. It’s a 2bd., 2 ba with gray concrete ceilings. Why should this sell for more than $299K?
Locationlocationlocation…Nice, convenient West Loop area, but across the street from St. Pat’s Church, home of the famous/notorious “World’s Largest Block Party” in summer. This is one of those events where the “locals” make plans to skip town for the duration if they don’t plan on attending themselves.
http://www.gazettechicago.com/index/2012/04/office-building-planned-near-old-st-pat’s-despite-opposition/
Office building planned near Old St. Pat’s despite opposition
April 5, 2012
“Most affected are residents of the Edge Condos and Lofts (210 S. Desplaines St.) and the Haberdasher Square Lofts (728 W. Jackson St.).
“The area really doesn’t demand another office building,” said Linda Potaniec, a Haberdasher resident and Old St. Pat’s parishioner. “A building that size will dwarf any other buildings nearby. While it’s true that nobody is guaranteed a view,wewere led to believe that this was going to be a six- to eight-story building.”
Neighbors also worry excessive sunlight would reflect into their homes during the day and lights would be on all night.”