Want a 2-Bedroom South Loop Loft Penthouse Under the 2000 Price? 1307 S. Wabash
This 2-bedroom penthouse loft (is this even a loft???) at 1307 S. Wabash in the South Loop just came on the market.
It has vaulted ceilings and, at 1680 square feet, is not your typical-sized 2-bedroom condo.
The bedrooms have full floor to ceiling walls for added privacy.
This unit has two outdoor spaces: a balcony and what appears to be a roof deck (though I can’t tell for sure if it’s private to the unit and there is NO picture of it in the listing.)
The kitchen has granite counter tops and stainless steel appliances.
The loft came on the market listed at $299,900 which is well under the 2007 purchase price and even $23,600 under the 2000 price (with parking included).
Is this a deal for the square footage?
James Gramata at @Properties has the listing. See the pictures here.
Unit #706: 2 bedrooms, 2 baths, 1680 square feet
- Sold in October 2000 for $358,500
- Sold in June 2007 for $370,000 (included the parking)
- Currently listed for $299,900 (plus $35,000 for tandem parking)= $334,900
- Assessments of $815 a month (includes cable, internet, parking)
- Taxes of $6211
- Central Air
- Washer/Dryer in the unit
- Private roof top deck???
- Bedroom #1: 16×13
- Bedroom #2: 15×13
Very interesting but the assessments are unusually high for a building of this type. Does include $60.39 for CATV and $55.29 for Internet (my Internet is nowhere near that high). I’d like to see their financials.
I think a lot depends on whether the rooftop is private. If it is private, then the unit might command a premium. If it’s not private, then this becomes just another 2/2. Taxes seem awfully high. Assessments seem high for the area, especially since it doesn’t include heat or electric. My guess is $249k with parking if the rooftop isn’t private.
Gary, where do you get internet from that it’s well under $55 a month? I need to switch companies.
“Taxes seem awfully high.”
Right in line for a property assessed at $370,000 market value.
“Gary, where do you get internet from that it’s well under $55 a month? I need to switch companies.”
If you live in a condo building with enough units you can just make a deal with any of the numerous wireless companies, you should be able to get decent internets for as low as $20 (I used to pay $35 for 12/2 myself with hipoint). $55.29 for internet to me is a sign of morons running the place, especially if cable + internet is from the same company.
“I need to switch companies.”
You prob just need to threaten to switch and they’ll lower your bill, although that game has gotten a lot harder to play in last couple years.
The assessments do seem really high. I always thought this building was rental too…often have seen rental trucks with college kids moving in/out it seems. Needs some updating as well. Lastly, I couldn’t live upstairs from Zapatista for fear of eating there at least once a week. 🙂
I know there was an special assessment for this building, I wonder if it’s paymented into the unusually high assessment #. Location for this building can not be discounted though, arguably the best in SL if one’s car-less and wants to remain so, with El/Bus, Trader Joe, Jewel, slew of restaurants/bars outside of the door.
This must be an old picture too as the restaurant next door burned and I’m 99% sure is still boarded up.
“This must be an old picture too as the restaurant next door burned and I’m 99% sure is still boarded up.”
yeah someone told me the skeezy owner torched the place
other than that this is a great part of the south loop, very neighborhoody feeling at least when its nice out
“Does include $60.39 for CATV and $55.29 for Internet”
$60 is for basic cable and Internet combined, $55 is for the parking assessment. Still seems a very high monthly assessment for the size. Maybe they were burned by a previous special and are building substantial reserves to compensate.
Are those fishing rods above the bed?
Yes, fly rods & reels. I can’t tell if they are for showin’ or for throwin’.
“$60 is for basic cable and Internet combined, $55 is for the parking assessment.”
Ah, yes. I lost a comma as I copied it over from the remarks. That seems more reasonable for internet. I think I pay like $20/month for slow DSL from AT&T. Their standard offer in the first year is $15/month with phone service.
Upstairs from the worst Mexican joint in the city and next door to a “sports bar” full of drunken loudmouths with backwards ballcaps. And close to one of the scuzziest EL stops in the city. Swell.
“Oldman (January 6, 2012, 8:47 pm)
Upstairs from the worst Mexican joint in the city and next door to a “sports bar” full of drunken loudmouths with backwards ballcaps. And close to one of the scuzziest EL stops in the city. Swell.
Wait, are we talking about Lakeview/Wrigleyville, Bucktown or SL here? I can’t tell the difference.
Came back to this thread cuz apparently it finally went under contract today.