Want New? First Re-Sales in The Illume, the Latest West Loop Mid-Rise, at 111 S. Peoria
This 1-bedroom in The Illume, at 111 S. Peoria in the West Loop just came on the market.
The Illume is a new construction mid-rise with 79 units and a parking garage.
The first closings started in June 2018.
This 1-bedroom is among the smaller sized units in the building.
It has a north exposure from floor to ceiling windows.
There are hardwood floors throughout and exposed concrete ceilings.
The kitchen has the latest modern wood cabinets, a big island and Fisher and Paykel appliances.
This unit has a “huge” master bathroom with modern finishes.
It also has a rare full-sized side-by-side washer/dryer in its own 8×6 laundry and storage room in the unit.
The unit has central air and heated garage parking is available for $25,000.
It’s a doorman building.
Redfin says it closed in June for $420,000.
It has come back on the market at $425,000 plus $25,000 for the parking.
Have prices risen in this building since the original contracts were signed?
Marilyn Bloom at Dream Town has the listing. See the pictures and floor plan here.
Unit #203: 1 bedroom, 1.5 baths, 915 square feet
- Sold in June 2018 for $420,000 (per Redfin)
- Currently listed for $425,000 (plus $25,000 for the parking)
- Assessments of $268 a month (includes gas, doorman, exterior maintenance, scavenger and snow removal)
- Taxes are “new”
- Central Air
- Side-by-side washer/dryer
- Bedroom: 12×12
- Living room/dining room: 21×14
- Kitchen: 13×12
- Laundry room: 8×6
not exactly a very good flip… going to get hammered on the transaction costs probably, I would think this is a person who wants to sell unwittingly because flippers don’t flip for a 2% return
how is the assessment 268 a month?! It will def go up…
Looks like the seller just wants to recoup his cost. increased price will barely cover his closing costs. With that said….its a bit overpriced for 915 SF, and having the bathroom accessible only via the bedroom will be inconvenient.
there’s a powder room near the entrance
This is really, really ugly despite the location. Unfinished ceilings? Really? It’s 2018, and this isnt a dorm. The exterior has all the character of an east Berlin cold war housing block. Gross building.
Call me old fashioned but I could never get used to those gray ceilings. It’s the opposite of “homey.” Makes me feel like the building wasn’t finished.
yeah the ceiling and associated track lighting reminds me of my old condo at 630 n franklin… but CMK somehow would manage to cram 2 beds and 2 baths in a unit of this size… lol
“It also has a rare full-sized side-by-side washer/dryer”
from pic 15 the w/d clearly looked stacked. still full size though.
Convenient that you can borrow something from the neighbors in the building next door without having to go downstairs.
“the w/d clearly looked stacked”
Stacked is the new side by side. Top and Bottom are still sides of a cube, right?
“This is really, really ugly despite the location. Unfinished ceilings? Really?”
This was a shyster project from start to finish. Lol, it just figures the finished product is this. Horrible. Predicatble. Greedy developer.
I prefer old construction personally but I LOVE unfinished ceilings, Marko!
They could have put a second full bathroom in this unit instead of a laundry room. What a waste.
“from pic 15 the w/d clearly looked stacked. still full size though.”
Sorry, yes, they are stacked but still full-size. I wasn’t paying attention to the pictures as usually when there’s a separate laundry room like this they are side-by-side.
But at least you’re still getting full size AND extra storage.
“Unfinished ceilings? Really? It’s 2018, and this isnt a dorm.”
There are a handful of buildings that have the unfinished ceilings, some of which are considered luxury buildings like:
Helmut Jahn’s 600 N. Fairbanks
Contemporaine
And Sonies’ former CMK building 630 N. Franklin, plus other CMK buildings around the city.
Some like the unfinished ceilings because it gives it an “industrial” feel.
“how is the assessment 268 a month?! It will def go up…”
We haven’t discussed much lower priced new construction on this site lately (usually just million dollar luxury units.)
The developer sets the assessment in new construction. It will be up to the board to change it once they take over the building from the developer.
The assessments on new construction are almost always set artificially low. But, of course, there usually aren’t any big expenses in the beginning either.
Under Contract
Closed for 450K
I’m surprised this 2/2 resale in The Illume has gone under contract so quickly.
They are building a new midrise right next door.
This unit faces south, right into the new building.
https://www.redfin.com/IL/Chicago/111-S-Peoria-St-60607/unit-408/home/108305555