We Love 2-Bedroom Brick and Timber Lofts for Under $300K: 625 W. Jackson in the West Loop
This 2-bedroom corner loft at 625 W. Jackson, the Capitol Hill Lofts, in the West Loop just came on the market.
It has timber ceilings and exposed brick.
Both bedrooms have windows in a split floor plan.
The kitchen has maple cabinets, granite counter tops and stainless steel appliances.
While the unit has no balcony, it does have the other bells and whistles buyers look for including central air, in-unit washer/dryer and deeded parking.
Is this a deal compared with other buildings in the neighborhood?
Patricia McEneaney at Coldwell Banker has the listing. See the pictures here.
Unit #204: 2 bedrooms, 2 baths, 1262 square feet
- Sold in May 2001 for $282,500
- Sold in December 2006 for $309,000
- Currently listed for $299,900 (includes the parking)
- Assessments of $492 a month (includes cable and security)
- Taxes of $4554
- Central Air
- In-unit washer/dryer
- Bedroom #1: 10×12
- Bedroom #2: 12×13
I can dig it, its a legit 2 bedroom loft (windows!), like the vibe of the bathroom goes with the loft feel.
strange they gave the kid the larger bedroom?
must also suck for the kid when parents watch tv or do anything during nap time (walls dont look to be all the way up)
I can dig it as well, and the price looks to be in the right area.
Personal preference: wont purchase any place without a full height bedroom wall. Other than that and the lack of a balcony, the price seems pretty decent for the place.
I like that the fireplace and seating around it help to disguise the kitchen a bit (mentally more than physically) such that it doesn’t feel like you’re cooking in your living room like so many lofts.
Nice looking place in general.
2nd floor typically = noisy condo
“A-Fed on September 1st, 2010 at 10:37 am
2nd floor typically = noisy condo”
Yup, I lived on the 2nd floor in China Club on Fulton (also right above a White Hen, coincidentally) and the traffic noise *sucked*.
It looks to me like there is a balcony, no? The second picture, it looks like there is a door there and I think I see a railing?
This seems like a great deal.
A-Fed: there is a balcony (99% sure)…picture 2…just to the left of the picture there is a door that leads out…you can kind of see the balcony if you look through that window with the table in front — had a friend in this building…almost positive he was 2 floors straight above this one. it looks south over desplaines.
nice place…i’d say it’s priced about right since it includes parking, but it does have some competition in the area.
Instead of that stupidly placed fireplace i’d rather have more kitchen cabinet/countertop space… then again I must be one of those wierd people that enjoy cooking more that I do sitting all the way across the room from a fireplace
I agree about the bedroom walls not going all the way up, although it’s not a deal breaker. I figure you could easily do that yourself…empty framing and drywall work is fairly simple stuff. Also, I’m not a fan of the fireplace right by the kitchen like that, it seems sort of awkwardly placed IMHO. I think this area is interesting, hasn’t it been hit really hard by declining prices (ala South Loop)?
I’m glad the listing includes “White Hen”
that white hen is now a 7-11. (i think they all are)
seems odd how little the price increased between 01 and 06.
I like that they included parking in the price. It makes me feel like the sellers are going to be reasonable to work with..
I really hate the fireplace though. I wonder how easy it would be to remove.
The price also seems reasonable to me.
“I really hate the fireplace though. I wonder how easy it would be to remove.”
Remove and do what with the space? If you want to retain the wall, but with the fireplace excised, it’s an easy job.
I work near here and this neighborhood is terrible. Nothing going on and not exactly crazy low pricing to account for the lack of a amenity-laden neighborhood.
I’d sooner take a SLoop loft thats in foreclosure/short sale for 100k less.
Bob – awe cmon, you have lou mitchells across the street and greek town a few blocks away, not to mention a quick cab to Madison St…I can think of much worse places to reside with less to do in Chicago.
I just hate the entire wall/fireplace. I would rather it be a full wall (and close off the kitchen) than a weird, partial fireplace/wall.
This would be a great pied-a-terre for someone from the suburbs. They could take the train in and walk from Union Station. 299k for rich suburbanites is less than they spend on their q10 year renovations. The agent should market this in the suburbs and add in a yearly pass to the opera/CSO/plays, etc. – people love those gimmicks and often fall for them!!!
“I can think of much worse places to reside with less to do in Chicago.”
Me too and I don’t think its an outrageous price. But I was commenting that 250k buys a lot of options these days. And in the foreclosure-laden Sloop, with its comparable walk to work and similar amenities you can get a similar deal for 50-100k less.
Clio – suburban out of towners do not want a 2/2 loft in WLoop.
Bob – gotcha. Agreed.
“I’d sooner take a SLoop loft thats in foreclosure/short sale for 100k less.”
Bob, you really think you can find a comparable 2 bedroom, 2 bath (w/parking, 1250+ SF, good kitchen and a balcony) in foreclosure/SS for $199,900 in the South Loop?
A-fed – I’ve got to disagree. My neighbors and suburban “friends” get tired of all of the green around them and formal living spaces in their homes, they want a place totally different. When they imagine an “in-town”, a “loft” epitomizes city living (in their opinion). Additionally, a place in the South Loop (around all of the tall buildings) further enhances this feeling.
I don’t agree with them, but this is pretty much the reaction I get from all of them when we are downtown.
I meant “West” loop…
“Bob, you really think you can find a comparable 2 bedroom, 2 bath (w/parking, 1250+ SF, good kitchen and a balcony) in foreclosure/SS for $199,900 in the South Loop?”
Not only do I think I quite know so because I just did a very quick MLS search and it returned 16 hits.
Now some of these aren’t in desirable places (ie: 50 E 26th St is two of em), some of these don’t include parking (which puts them above 250k). But they are out there. Heck you can even get a townhouse at Wabash club which has 1,550 sqft for 250k these days.
Also you made up the 1,250sqft floor. Lets take a look at 320 E 21st St, Chess Lofts unit 410. 1,168sqft, garage parking, 16×5′ balcony with city view listed for 219k.
For more budget constrained 1528 S Wabash is a short sale listed for 200k. Its a 2/2 with indoor parking included.
And why am I doing this legwork for you? You’re the dumbarse too lazy to search the MLS for yourself. FYI figure out how to search MLS before questioning Bob from now on, because its not hard to check.
Clio – the many persons that I know who reside in the suburbs all want the same type of in-town place in Chicago…regardless of loft type, they would like to be in GC/Streeterville near 900 N Michigan shops or in River east, at the Chandler or similar. They care much more about the location/view than the actual type of place referring to loft/cookie cutter, and basic requirements are W/D, garabge disposal, balcony, parking.
BTW a family friend bought a in-towner 1/1 on the transition floor at Trump but I do not exactly call that the “norm.” I think it cost them as much as their suburban 2500+ sq ft house!
Another comp: 500 S Clinton Unit 728 is a 2/2 listed for 250k. Its 1,500sf* and “Architects *custom* corner unit w/all the bells* bank approved! Close 45-60 days! 1500 sf 2br plus den w/1 20k gar pkg incl! ”
*Dimensions not verified per the listing.
Babys rooms in properties that are on the market says to me,
This is a motivated seller looking to flee to the suburbs.
Especially a loft like this one.
When I sell I am going to stage the place without my daughters room (shes 15months)
that way we wont look as desperate.
James, I don’t know… a few days ago we were discussing the idea of pulling on the heart strings of sellers by meeting them, telling them how much they love the house in attempts to have them accept a lower offer. Maybe the reverse tactic will work in this case. Do you think that if a buyer sees a kid’s room, they will feel sorry for the owner’s plight and be more sympathetic in negotiations? this suject comes up often – it would be interesting to hear other people’s views…
Makes me think I have a better chance at making a lower offer.
I also understand the reality of have a baby when you live in the city.
Parents with no kids think that they can hold on to the urban dream of remaining
Hip, slick and cool even with a baby, this dream is very quickly shattered when the kid is about 6-9 months old, your priorities change literally over night. So when I see babies room in a once single persons type place like a loft I think, Motivated seller- lower the offer.
“Babys rooms in properties that are on the market says to me,
This is a motivated seller looking to flee to the suburbs.
Especially a loft like this one.
When I sell I am going to stage the place without my daughters room (shes 15months)
that way we wont look as desperate.”
Excellent strategy, James. When I see the cribs in places featured here on CC, I can’t help but think that the seller never really carefully thought out their future. I often even kid that, lacking such foresight into quite common life changes, they might not even know *how* they got pregnant!
Its either that or they counted on baked in appreciation to help facilitate their move–so either they are dumb or they are entitled, in any case not sympathetic characters.
On the subject of offers…what exactly is a “low” offer these days? I realize that it will depend a great deal on the circumstances of any particular place, but generally speaking, what’s a reasonable percentage off – i.e., below the asking price – to offer?
annony,
good question…if they leave a crib in one of the bedrooms, then i think it’s okay to offer them bus fair (or 99% below asking, whichever is less) and tell them to shove it up their dumb, entitled ass.
sincerely,
Bob
low offer, imo, is less than half of asking price
reasonable offer is 10% off, again imo and obvi depends on place
p.s. Bob, someone asking you your opinion isn’t the same as someone saying “prove it!” — relax.
i never said this place would sell for ask.
“i never said this place would sell for ask.”
Sorry just a visceral reaction as every time I talk about the state of the market someone not as in touch with it doesn’t believe me. This stuff is incredibly easy to find as I’m not even in the industry.
Whether it be due to ample distressed comps, financing difficulties or changing preferences I do think lofts are going to get really clobbered in this downturn. Urbane and chic is great when times are good and everyone wants to pretend that they are wealthy/successful/special enough so that day to day living practicalities (like full walls, concrete floors, etc) don’t apply to them.
But when times are bad these aspiring artistes get killed–just slaughtered. Cuz mama and papa bear realize living in a loft with a kid(s) sucks and they can’t just up and leave. And its no longer as important to keep up appearances (of social standing) with one’s social circle with impractical crap like lofts.
Hard to pretend your urbane and chic with a crying kid in the main room you can always hear because your walls aren’t full height. Or with an upstairs neighbor creaking the floor planks all the time.
those walls that dont hit the ceiling are bad for anybody, not just an infant. i dont understand them at all. who wants to be in a bedroom and hear the crap going on in the living room loud and clear. what is the point? why not knock down the wall and make the living room bigger.
I guess they can be useful hiding a small office.
The fireplace HAS to go. Very oddly placed. I like it otherwise, seems like a good price. Location great for coming into the city
via Union Station.
Clio, you are talking out your ass again. As other posters have said, anyone from the suburbs looking for an “in-town” wants to be in the touristy areas, NOT the barren West Loop.
As a side note, why would anyone want an “in-town” in an era of declining real estate prices? For the cost of assessments alone, you could stay at a nice hotel for a couple of weekends a month.
Pete,
First of all, I am not talking out of my a@@. I, actually am one of the few (if only) person who actually lives in the suburbs and has neighbors and friends who can afford in-town places. What gives you or anyone else on this site any more insight into this? Seriously, are you frickin’ kidding me? Move to the suburbs, make at least a few million, and then open your mouth. Before then, keep it buttoned.
Second of all, if you DID know anything about people looking for in-town units, these usually are either megalomaniacs who like their ego stroked and like to brag about having their own places or are true snobs and don’t like living in a hotel room where “commoners” sleep every night (those aren’t my sentiments). Alternatively, they could have large families and would like to let their children or relatives use these places. Most people who want in-town units do NOT necessarily want to be right in the middle of all the action but want to have close access – they are NOT tourists and avoid Michigan avenue, (unless, of course they can afford olympa centre, park hyatt, palmolive, ELSD, 950N.). If all they can afford is 300-400, they do look at W. Loop, R.North lofts.
“I guess they can be useful hiding a small office.”
Its developers way of complying with the Chicago building code that all bedrooms must have a source of natural light without them having an actual window.
Its an incredibly cheap and poor tasting way to get code compliance. But during the bubble idiots were tricked into this being “neat”. Just like unfinished, err unpainted, concrete ceilings.
“who wants to be in a bedroom and hear the crap going on in the living room loud and clear.”
Or the converse is much worse: who wants to be crashing on a friend or family member’s pull out couch in the living room and hearing all the crap going on in the bedroom?
People that bought this crap were stupid with a capital S. You won’t see Forrest Gump in one of these McCrapboxes because not even he’s that dumb!
Pete:
I thought this ‘in-town’ thing was pretty rarified but through the course of conversations it turns out I actually know a few folks who have them. Each person has a large suburb house and the main reason for the downtown pad is for when one of the couple works late and just wants to crash.
Bob – whats wrong with unpainted, concrete ceilings? I personally think they look great in certain condos, especially when they are 12’+! Additionally, it allows easy access to hang fans/lights w/o having to find a secure location behind the drywalled ceiling and re-routing electicals are a breeze!
Concrete ceilings do not equate to a McCrapbox as you indicated by your statements though that might be your personal opinion.
explain to me the unfinished brick walls, please.
I can only imagine that they are COLD in the winter. How do you hang a picture on one? Not easily, I imagine. And don’t they shed crap all the time? brick bits and mortar bits and sandy stuff? I just cannot imagine how you’d keep a place with exposed brick walls clean. Short of sealing the walls with polyurethane (jk), how do you manage them?
Did anyone else notice that unit 208 just closed for $209k?
Believe that was also a corner unit 2/2. . . so, uh, anonny, there’s my answer to “what’s a low offer” (i.e. apparently well below 30% under ask. . . ).
And logansquarean I actually dig brick walls. Not too difficult to maintain (tuckpoint, then just use a sealant). Never noticed drafts through brick. . . but then I’ve always lived in old places built like forts.
people love those gimmicks and often fall for them!!
Clio that statement sounds suspiciously like someone manipulating them to think of other things…. That should make you “feel dirty”
Brick walls can be an issue but overall they are quite even temperature. Our west facing wall is over two feet thick. It is all made of masonry and never gets hot or cold despite the temperature or sun exposure. They are very efficient. As for dust or mortar that depends on what the developer did to finish the wall during reno. Ours are fine. We used masonry screws to hang things with great success. The only drawback is when you want to move something that was hung. It will leave an obvious mark.
jp3 – touche – great point – however, this seems more of a win-win situation than manipulation. Rationalization – it’s a great thing…..
Good comments all around, even some humorous ones.
Especially the reference to people wanting lofts because they exemplify the “glamor” of city living.
Like in “Flashdance” and “Rent.”. 🙂
Hey everyone check out MLS 07623023. The listing says its for a 1/1 at 899 S Plymouth but the exterior pic is that of SoNo off of North Ave. LMFAO!
We are one of the “intowners”,but not from the suburbs. We come from 2.5 hours away to enjoy the big city on weekends. It was good if not wise purchase. We are a block away from Sonies.
In our condo mid-rise in in Madison, we have people who come for periods of time from the Chicago and Minneapolis areas.
for all of you who think that people just move from the ‘urban’ scene when they have kids, check out erie park (erie and west side of river) on any decent weather weekday or weekend day. also research the new Ogden International School being built at Walton and State streets. PreK-12, meaning no worries about where you’re kids gonna go if they don’t get into a selective school, public or private. And it’s free.
you’re should be ‘your’…oops.
“I, actually am one of the few (if only) person who actually lives in the suburbs and has neighbors and friends who can afford in-town places……….Move to the suburbs, make at least a few million, and then open your mouth. Before then, keep it buttoned.”
Clio,
Please re-read you rant, look in the mirror, take a deep breath and release slowly then read the rant again.
now do you see “why” the dynamic is skewed the way it is?
now that your calm and clear headed, do you truly believe that my opinion or ideas hold less if not any compared to yours because of asset status?
do you feel that your Ivy education in the real world superior to my Junior College education and my views are less because of?
x-educator – I’m sure that the new Ogden campus will be a welcome amenity for the families who live in the district. But is it REALLY a good idea to have grade-school, junior-high and high-school kids all together on the same campus? It creeps me out when I see this at the Francis Parker School, the St. Benedict’s schools in North Center, etc.
I thought the whole idea of separately located schools for the various stages of child development was supposed to be a GOOD thing! Gives a kid a new sense of maturity, independence, etc. when s/he leaves the comfort of K-8 to board the bus for the high school a few blocks or miles away. At least it worked that way for me! I mean, do teenagers REALLY want their little siblings around? 🙂
“also research the new Ogden International School being built at Walton and State streets. PreK-12, meaning no worries about where you’re kids gonna go if they don’t get into a selective school, public or private. And it’s free.”
Is there a reason to think the HS will be good? Is it replacing an existing HS? What will be neighborhood boundaries for the HS?
“It creeps me out when I see this at … the St. Benedict’s schools in North Center”
Aren’t they in separate buildings? Haven’t ever really investigated it.
“also research the new Ogden International School being built at Walton and State streets. PreK-12”
2 seconds of research indicates that k-8 will be in the new building, with the high school remaining at 1250 W Erie. b/c it’s 2 seconds, that may be wrong, but it’s consistent with what I thought I knew.
“Is there a reason to think the HS will be good? Is it replacing an existing HS? What will be neighborhood boundaries for the HS?”
For now, it’s guaranteed admission for Ogden Elem kids, with lottery application (not sure which lottery) for others.
Loft walls are easy to put up – I lived in a loft building and it was actually an option when the building was built. I think the builder charged $1K for it, so likely it can be done much more inexpensively.
I do like the timber over the concrete but that is just preference.
As for those that would rather scoop up a short sale in the south loop – I think a lot of people avoid them. If you want a condo soon, you don’t want to wait 6 months just to hear back on an offer. I think short sales are for a different type of buyer. One willing to wait and one willing to not get a place they put an offer on. I have heard the % of short sales that actually close is very very small!
“now that your calm and clear headed, do you truly believe that my opinion or ideas hold less if not any compared to yours because of asset status?”
YES!! – BUT NOT BECAUSE I AM BETTER PERSON- BUT BECAUSE I UNDERSTAND THE CLASS OF PEOPLE WHO BUY SECOND HOMES, HOW THEY THINK AND WHAT THEY WANT. GROOVE, I USED TO BE RELATIVELY POOR GROWING UP AND THOUGHT I UNDERSTOOD RICH PEOPLE AND THE WAY THEY THINK – BUT YOU DON’T REALLY GET A GOOD IDEA UNTIL YOU ARE THERE YOURSELF (PRIORITIES CHANGE, ETC. ETC.) – JUST LIKE SOMEONE WITHOUT A KID TELLING SOMEONE WITH A KID WHAT IT IS LIKE AND WHAT THEY SHOULD DO.
“do you feel that your Ivy education in the real world superior to my Junior College education and my views are less because of?”
NO – NOT AT ALL – THERE ARE RIDICULOUSLY SMART PEOPLE WHO DON’T HAVE ANY EDUCATION AT ALL. I APOLOGIZE IF MY “RANT” CAME ACROSS LIKE THAT.
“BUT BECAUSE I UNDERSTAND THE CLASS OF PEOPLE WHO BUY SECOND HOMES, HOW THEY THINK AND WHAT THEY WANT”
a groups ideals transcends commonality past its geographical location.
“I USED TO BE RELATIVELY POOR GROWING UP AND THOUGHT I UNDERSTOOD RICH PEOPLE AND THE WAY THEY THINK”
Rich is subjective and not a bucket to group and say all “these” do “this”. if this was true it really make marketing/reason firm pretty obsolete.
Hey to me i didnt grow up poor, so your “relatively poor upbringing” may well have been “rich” to my standards.
The class of people who buy second homes? Here is something I read….
“64% of millionaires have never owned a second home. There are a variety of reasons why millionaires don’t own vacation homes. Most self made millionaires don’t need to collect “things” to define and demonstrate their achievements. Also, most wealthy people have a wide variety of interests and activities. There is a substantial correlation between the number of interests and activities that people are involved in and their level of financial wealth. Some wealthy people feel that owning a vacation home would restrict them, obligate them to spend a lot of time there. And if they do not spend much time there they feel guilty spending lots of dollars on something that is underutilized. Most millionaires realize this without having to make the first mistake of purchasing a second home.”
Is a condo in the city considered a vacation home? Likely yes, it is a vacation to get out of the suburbs!
No outdoor space = NEXT! Not sure this is discounted enough for that. Maybe enough to get offers.
Oh, and no one cares if you have kids or not in a deal. No one cares. It’s all about what someone is willing to pay for the space and location. If the home shows nice (including kids room), the home shows nice. Period. Then, it’s about price. Got that, condition and price. Relative to location of course. Period for real.
I agree with Eric on the lack of outdoor space. What is otherwise a nice unit, gets passed up by a good chunk of potential buyers. That’s a deal killer at most any price–unless you move silly low and that’s not happening.
At the end of the day and speaking from experience a crib may mean little in the sellers eyes. Our place is on the market and yes we do have a crib
“our place is on the market and yes we have a crib” but our kid is not even one. If we sell now great. If not next spring or the spring after that. Now if we do not sell until 2013 it could be more problematic for some parents as the kid is nearing school age. Most parents in the city with one junior are not that motivated to leave immediately as suggested by other posts.