Want a Unique Loft? Look No Further Than This 2-Bedroom: 1000 W. Diversey in Lakeview
This 2-bedroom triplex-up loft at 1000 W. Diversey in Lakeview just came on the market.
It is an authentic “original” loft- converted in the late 1980s.
You don’t see many of these around.
It has 20 foot ceilings, exposed brick and a massive skylight in the living area.
There are also skylights in one of the bathrooms.
The third floor has a large master suite and the private 15×15 rooftop terrace.
The second bedroom is on the second level with the living/dining/kitchen on the main level.
For those of you familiar with the Diversey brown line stop- you can actually see this rooftop terrace quite clearly from the platform (it is in the building that houses the Starbucks at Sheffield and Diversey.)
The kitchen has white cabinets and stainless steel appliances.
The master bathroom has a massive soaking tub.
The loft has central air, washer/dryer in the unit and parking.
At 2200 square feet, is this a steal for the neighborhood?
Andrew Millard at 33 Realty has the listing. See the pictures here.
Unit #3E: 2 bedrooms, 2 baths, 2200 square feet
- Sold in August 1988 for $197,500
- Sold in April 1993 for $290,000
- Currently listed for $449,900
- Assessments of $451 a month
- Taxes of $7653
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 21×15 (third floor)
- Bedroom #2: 12×13 (second floor)
Interior courtesy of Sonny Crockett and partners
ha this place is pretty awesome, especially love the sunk into the floor tub in the bathroom, DOPE!
I would totally live here, although the location isn’t my favorite, wow what a cool place
continuing the appreciation from 88-93 out to present, this would be a $1.15mm place.
using 3%/yr from 88 to present, it’s $389k.
using cpi, it’s $378k.
Look! We’re closing in on 19**88** prices!!
“Interior courtesy of Sonny Crockett and partners”
That *sonies* Crockett to you, bub.
Wow…mutlicolored bathroom sink, 80’s kitchen, blue pillars, tub in the floor…
It looks like a cool space, but I can’t handle the decorating. There is a reason this place is closing in on “19**88** prices” It hasn’t been touched since!
you guys have no vision! I could do so much good to this space
and LOL @ anon
Majority of the accent painting makes me want to vomit. A clown must have lived here.
“you guys have no vision! I could do so much good to this space”
Yes. You and $100k. Then you’re more than half a million into a 2/2 condo on Diversey. Blah.
Haul away that vintage Sony Trinitron TV and throw a flatscreen over that fireplace for pete’s sake. That TV just reminds people this place hasn’t been touched since 1993.
“blue pillars”
How many do we think are structural?
One, at most, right?
unique space, great neighborhood. Looking past the obvious interior design elements, you could have a cool pad. Pick it up for 400k and 100k into it would set you up nicely.
Agreed this place needs work. But 100K worth of work to “set you up nicely”?? I dont see where you would spend that kind of coin unless you were gutting the thing and putting in very high end finishes. That being said, I love the unique nature of this place and might go take a peak at it.
Any comments on the quoted square footage? From the pictures, it looks a bit tight for 2200 sq. ft. Hard to say, though. I don’t have a great sense of the layout from the pics.
“I dont see where you would spend that kind of coin unless you were gutting the thing and putting in very high end finishes.”
Or paying rack rate to have someone else do everything for you.
Keep in mind, this will live like a (*huge*) 1 br + den.
And we’re discussing putting $500k into it.
At Diversey/Sheffield.
Also, this is *definitely* one kitchen that should have only white appliances.
for 100k you would have a very high end kitchen and baths and I’d also redo that fire place area, refinish the floors and fit out that roof deck nicely
it just has a lot more possibilities to me than the standard 2/2. Not sure what the issue is with the neighborhood. I love this area.
$65K = all new paint, a few large area rugs, reface the kitchen cabinets, new kitchen floor, new appliances, new flooring in bathroom, fireplace surround, wall hangings, some cool window treatments, update the shower. This place sells for $400-405K, you’re in for $470K which is a little toward the upper end but you are getting a relatively unique space (which is worth something) and I happen to like this area quite a bit. This would be pretty cool for a single, if I had a kid then I’m obviously looking for something else.
Right Diversey and Sheffield is scary…..
“Right Diversey and Sheffield is scary…..”
Yep, that’s what I was saying.
Do you have NO filter? It’s about pricing of comps. A 1 br condo, (almost) no matter how large, ain’t worth $500k in this location.
I was commenting on the area, not the condo.
“Keep in mind, this will live like a (*huge*) 1 br + den.”
Why do you say that this is something less than a 2 br place? I’m confused.
“Why do you say that this is something less than a 2 br place?”
How would *you* use that second bedroom? Occcasional guest room, sure, but with the layout, is it likely to be a seven day bedroom?
Don’t want to have a kid in it, unless it’s a “mom’s basement” alternative, and I don’t think I’d want a roommate in my $500k condo, but maybe I’m just out of touch.
“I was commenting on the area, not the condo.”
Oh, so you were serious that the area is scary?
In response to whom was the sarcasm directed?
Trudi on October 4th, 2011 at 11:18 am
it just has a lot more possibilities to me than the standard 2/2. Not sure what the issue is with the neighborhood. I love this area.
I was concurring with Trudi.
“I was concurring with Trudi.”
Who was responding to my comment about a $500k [1+den/2br] in this location.
No one else said anything about the ‘hood.
You think the location supports, and will continue to support, $500k [1+den/2br] condos? Seriously? In real dollar terms?
Ok, again I am not commenting on the unit.
$100K doesn’t go as far as DIY and HGTV would lead you to believe.
I remodeled my master bath without going over the top on finishes. Moving plumbing, installing electrical, double vanity, radiant floors and a steam shower and I spent almost $45K. Granted, it’s a lot of SF.
I decent kitchen and appliances seems like easily another $30-40K
Leaving ~$15K to refinish all those floors and do a roof deck? Seems optimistic to me unless you’re a contractor or developer.
For $45K, your master bath should be way over the top.
Did no one else notice the huge french doors in that bathroom? Do they really open up to the outside? Kinda voyeuristic, nice!
I would do a lot of the work myself, so yes 100k would go miles for me and anon, its “2200” sqft, how many 2br’s+den are that sqfootage in this area?
And whats wrong with the location right here? Its not like you’re ON the el tracks and its not you’re even on diversey (not that it is a superhighway or anything), you’re on SHEFFIELD, so there is some pretty normal city arterial traffic here with the occasional noise from a crazy hobo at the 7-11 on the corner, but other than that its a nice location for a city person
The 80’s called. They want their color scheme back.
Now, if you can look beyond the acid trip paint job, I actually really like the layout and I think there’s tremendous potential here.
The problem is the place is completely out of date and needs a lot of updating. The 100K estimate to fix this place up is way too low. I’m more in the $150 to $200 range. After another look, that 200 looks more like it. Everything in here has to go…. except that couch… oh yeah… that couch can stay. Can you dig it?
“I would do a lot of the work myself,”
Famous last words. This has a ton of SF – needs kitchen, baths, floors, roofdeck, paint. Everybody thinks they’re Bob Villa amd can redo this place for about $20K over 4 weekends. Gooooood luck.
I think the market will internalize $100k of work (right or wrong) and price this place at $350 so that they can be “all in” for $450 post reno.
1) I wouldn’t do it over a weekend, nor would i do 100% of it myself, but it would take years of work to DIY, although all the things you mentioned are not difficult except for plumbing and any wiring i’d need to do. Good thing “I got a guy” to do most of that.
2) you need to think more creatively, i’m not going to turn this into a mccrapbox cookie cutter place!
Also after looking at the pics again, why does this place need new floors? yes diagonal ones suck, but they look newish, bathrooms while quirky look functional, deck looks operational, the only thing that is hideous is the kitchen and one bathroom, and who knows what the quality of the cabinets are, maybe just some new hardware would make it look a lot nicer, and change the tile to something else and it might make a huge difference. You guys have no vision!
Just guessing on the floors. Who knows.
I have a vision that involves a Patrick Bateman/Bruce Wayne treatment. It ain’t free.
I really like this place, especially the openness and natural light. It’s clearly not for families, but meets most of my criteria. Sure, some things need to be changed, but I’m w/Sonies–it doesn’t all have to be done at once, and doesn’t have to be expensive to address some of the glaring shortfalls.
Because I believe everything I read on the Web, and know most agents carefully check the numbers, I think 2200sf is accurate.
I struggle with the $1K/mo assmt+taxes, heat NOT included. Low $400s seems reasonable, but we live in strange times.
“how many 2br’s+den”
The “den” is the 2d bedroom. The “office” is that slate area off the living room. It’s either a 1+den or a 2br, no way it’s a 2+den.
“whats wrong with the location right here”
Nothing. Except that $500k 1brs aren’t selling (much) in high end buildings in more expensive neighborhoods, so it’s not practical here.
You know how many 1 br condos have sold (per redfin) for over $500k in LP + LV *ever*? NONE.
and the listing actually says 2600 sqft, sabrina sez 2200, who knows which is right but if the listing is accurate its $173 a sqft for a unique place in a very nice neighborhood and I don’t think its too far out of wack
“You know how many 1 br condos have sold (per redfin) for over $500k in LP + LV *ever*? NONE.”
i’m curious the number of 2600 sqft units that have sold for UNDER 450k within a three block radius of this place, how about them apples?
“i’m curious the number of 2600 sqft units ”
1. This isn’t 2600. It isn’t even a legitimate 2200.
2. So? See #1.
3. Profit!
did you get out your laser measurer? how can google bot be SO SURE?
” the listing actually says 2600 sqft”
The blurb sez 2200.
Riddle me how it adds up to 2200 when:
The first floor is 19X12 + 14X11 + 12X10 + 10X8 = maybe 800
The 2d is 12X13 + bath + laundry + hallway = maybe 400
The 3d is 21X15 + big bath = ~500
“how can google bot be SO SURE?”
When’d you get into the realtor biz?
I’m contrarian today… (also glad to be short oil and the euro) I guess i have a “thing” for unique spaces since it seems as though all we look at here is overpriced generic cookie cutter crapboxes or unliveable forclosures every day
“Riddle me how it adds up to 2200 when:”
lots and lots of hallways?
who knows! I’d have to see it in person to reserve judgement I think
” I guess i have a “thing” for unique spaces since it seems as though all we look at here is overpriced generic cookie cutter crapboxes or unliveable forclosures every day”
I dig the space, too, but the pricing–in it’s current condition–is not gonna work unless Sonny (or sonies) takes the graft and needs to park the cash somewhere to launder it.
Someone needs to love it basically as-is for that to be (even close to) the right price. And they have to be prepared to love it enough to wait for the next one-off to fall in love with it when its time to sell.
let me add, (and clarify) I don’t really agree with the pricing either unless its a legit 2600 sqft
Seems like this is the most active posting today, so I figured that I would post this question here:
Has anyone fooled around with Redfin’s new “scouting report” feature, which provides a bunch of data about the listings of individual real estate agents? Seems pretty cool, and I expect that it will be somewhat disruptive. I have only played with it for about 5 minutes, but it seems very interesting.
This is a place where you really need to go to the place to see how it feels.
Anyway, whoever said it would take $200k to remodel this place is nuts.
Whoever spent $45k on a bath either got ripped off or has the highest end of everything or did MAJOR remodeling as it was stated, moving plumbing and electrical.
From the pics, plumbing and electrical are not needed in this place. The master bath doesn’t look like it needs a lot. Flooring, paint, new vanity and counter if you want and pershaps new tile in the shower. The shower doors already look like they are frameless glass. I’d leave the tub and perhaps change out the hardware. The other pic with a sink really just needs new flooring and a new vanity. That stuff is easy to do.
I think the Bijou will buy this for “production studio” space for their retro 80’s film series, featuring Paul Lekakis.
I love the 2nd pic of the bath.
“In case you missed it from 8 ft back in the other pic, TAKE A LOOK AT THIS TUB!!!!”
“The “den” is the 2d bedroom. The “office” is that slate area off the living room. It’s either a 1+den or a 2br, no way it’s a 2+den.”
I’m not following your logic…The master bed (21×15) is on the 3rd level; 2nd bed 12×13) is on 2nd Floor and Office (10×8) is on main level. How does that make it a 1+den – did you intend to say that the den doesn’t really count?
@JJJ
Agents aren’t too happy about the scouting reports from what I have been reading. its a good concept but there seems to be some flaws in the data under reporting agent sales in some areas and not breaking out individual agent sales if they are part of a team.
Considering it is a tri-level penthouse unit, i would expect more windows.
I am the broker on the project so I can help shed some light on the layout, floors, costs, etc…
The layout is every bit of 2200 sq ft. It’s actually 3 floors of living space. There is a large second bedroom on the second floor that wasn’t shown on the pictures but will be. The den/office area is off the living room and where my client set up her home office. The funny fireplace is actually in the master bedroom that my client used as a Yoga studio. So its a true 2 bed plus office.
Below is a semi-detailed estimate of rehab costs. I did engineering consulting for about a decade before starting a real estate and management company. I say this because I did a ton of estimates for large scale building projects ($700M+). I also do a lot of rehabbing so I have a very good feel for what things cost. I’d be happy to recommend my contractors to anyone that eventually bought the place. O’Neill Development and CLS Construction are the two GC’s I use almost exclusively.
Yes, the colors are tough and you’d obviously want to paint the entire place – $5000.
The floors are actually in good shape. If you wanted to stain them a darker color I have a great floor guy “Marion” that can do it for $1/sq ft. $2200 – This is high because there is tile in the bathrooms, kitchen and office but lets error on the high side.
The master bath has an incredibly in your face color but the bathroom itself has a nice large soaking tub, steam shower, etc… So you would not need to gut it. Obviously paint it and possibly put a new vanity with some natural stone. Paint $800 + Vanity including labor $2500 = $3300.
Bathroom on the first floor with the colorful glass bowl on the vanity. Yes, I know the selections aren’t the best. 😉 Painting the back wall and leaving the exposed brick – $400. The tile on the floor and the shower needs to be upgraded. The floor is approx 15’x8′ and the shower dims of wall tile (4’x4’+ 4’x8′ + 4’x4′). So the total tile we’d need for the bathroom is 184 sq ft of tile. Tile material at $10/sq ft gets you some nice tile and $5/sq ft for labor including demo. The total cost to tile this bathroom is approximately $2760. Lets say $3,000 to error on the high side. A new double vanity with natural stone $2500 including labor. The toilet is fine, the bathtub is fine and the fixtures in the shower are chrome and look good. We’d need a new mirror and lighting as those are both outdated as well. Mirror, updated light fixtures, labor to install ($500+200+300) $1000. These upgrades would make for a nice second bathroom. I see no reason to do anything else unless you want to waste your money. Total bathroom renovation cost. $3000+$2500+$1000 = $6500. Again lets error on the high side and say $7000.
Now for the kitchen…. Yes, you could go crazy on this kitchen and spend $50,000 but that simply isn’t necessary. There is some very nice material at reasonable costs that a typical person thinks is material for a 50k kitchen.
Here is a list of what needs to happen in this kitchen to realize the most bang for your buck.
The owner just added new stainless steel appliances however the range is still original. A VERY nice cook top is $1500. All the other appliances can stay in place as they are stainless and less than a year old.
The cabinets should be replaced not refaced. All wood, Mocha, 42″, flat panel cabinets – $7500. These would have soft touch full extension all wood drawers. Labor to hang the cabinets and install the island $2500. Kitchen cabinets and island installed = $10,000
Installation and material for a Quartz counter is about $65/sq ft with 4″ back splash. I am guestimating on the counter top square footage so don’t crucify me if I am off a few feet but I would think we’re in the ball park 80 sq ft of counter and island compared to the other kitchens we have recently done. Usually the stone guys throw in the undermounted sink for free. So the cost of the counter installed with undermounted sink is $5200. Lets say $6k to be safe.
Lets put stainless steel pulls on all the cabinets. $250
A nice kitchen faucet. $250
We don’t have to do a back splash but lets again error on the side of being conservative. $12/sq ft for nice glass tile x $4/sq ft for labor. The area of the backsplash is approximately (HxL)= 2’x(10’+12′) = 44sq ft. Therefore the cost breaks down to $16sq ft x 44 sq ft = $1056 = $1100
The kitchen floor is approximately 12’x10′ = 120 sq ft. Tile Material for kitchen floor $10/sq foot and labor $5/sq ft includes demo. $15sq ft x 120 sq ft = $1800 for kitchen tile.
The layout can stay as is so because its a nice kitchen layout which saves money for plumbers and electricians.
Cost of the kitchen upgrade = $20,900
The deck is in really good shape so I see no reason to touch it.
TOTAL COST
PAINT ENTIRE CONDO = $5,000
BATHROOM UPSTAIRS = $3,300
STAIN THE FLOORS THROUGHOUT = $2,200
SECOND BATHROOM = $7,000
KITCHEN GUT = $20,900
SUBTOTAL = $38,400
LETS ADD A 15% CONTINGENCY FOR SMALLER ITEMS LIKE LIGHT FIXTURES OR THINGS WE MAY HAVE OVERLOOKED. = $5760
TOTAL REHAB COST = $38,400 + $5760 = $44,160. Again lets error on the high side and call it $45,000 to make this place look beautiful.
Please feel free to ask me any questions you may have about my numbers or comment if you think I am insane. 😉 I do a lot of these jobs so I am very confident we could finish this and make it look beautiful for under $50,000.
Well that took awhile! Hope this helps.
Drew Millard
33 Realty & Management
really cool that you featured this one sabrina, thanks. I’ve always wondered what was going on with that rooftop skylight/room. recall noticing drapes in it years ago and thinking it was a glass enclosed bedroom
Thanks for checking in, Drew, and filling us in on the unit.
Drew, where do those bathroom french doors open to? Is it really outside?
Drew:
Where are the other 400 sf hiding? Or were you super conservative on your room sizes?
I like the location. It’s close to the Trader Joe’s at Diversey and Orchard with THE best looking customers of any Trader Joe’s. Like walking into an Abercrombie catalog.
No ponytails?
Not on the dudes, that’s for sure!
HA!
No problem Sabrina, I am glad you chose this unique space to feature. I’m happy to help.
Yes, the french doors actually open to the outside. Its a Juliet Balcony. Why is it there you ask??? I have no clue…. 🙂 That said, it does have blinds on the door and the bathroom is really long so you wouldn’t be able to look into an area that is “private”. No pun intended.
I showed the property yesterday and the guys concurred that it was every bit of 2200 sq ft. The bathrooms alone are enormous and not accounted for on the room dims on the mls. I am taking a guess but the the dimensions of the bathrooms are approximately 15×12(master) and 15×8(second bathroom). Thats about 300 sq ft. Then the hallways and large walk in closets would make up the rest.
Drew
I saw this place today, very cool and very quirky. I do worry ‘though about the % of commercial in the building. Hard to figure out comps for something like this, for sure. The roof deck is super nice.
Regarding the master bathtub, I would probably take a header into it in the night visiting the bathroom. And I think Drew’s list of “fixes” is pretty much right on, although I liked the light floors and wouldn’t stain them darker. Great skylights, awesome view of city, lots of light, tons of closets everywhere, and a huge pantry closet in the kitchen.
Although not pictured, I wondered what was envisioned with the slider in the Mbath that leads to a 5’ drop to the roof. Are there roof rights to build something out there?