We Love 3-Bedroom Authentic Brick And Timber Lofts: 1040 W. Adams In The West Loop
This 3-bedroom authentic loft in the Number 10 Lofts at 1040 W. Adams in the West Loop just came on the market.
This building was converted into condo lofts at the height of the boom in 2006.
It has authentic features that loft buyers look for including a lot of exposed brick and 12 foot timber ceilings.
It also has diagonal hardwood floors (sorry Sonies) and 2 balconies.
It is a southeast corner unit with views of downtown.
The kitchen has cherry cabinets, stainless steel appliances and granite counter tops.
The listing says there are 2 master suites and it appears that all three bedrooms have windows, which is unusual for a loft.
Heated garage parking is $15,000 extra.
This loft is listed $14,900 over the 2008 price (if you buy the parking.)
With the low inventory in the West Loop, will it get the premium?
Christopher Stephens at Coldwell Banker has the listing. See the pictures here.
Or see it in person at the Open House on Sunday February 17 from 12:00 until 2 PM.
Unit #201: 3 bedrooms, 2.5 baths, 1450 square feet
- Sold in March 2006 for $405,000
- Sold in March 2008 for $425,000 (included the parking)
- Currently listed at $424,900 (plus $15,000 for heated garage parking)
- Assessments of $634 a month (includes doorman and cable)
- Taxes of $4687
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 12×13
- Bedroom #2: 12×11
- Bedroom #3: 7×9
Probably somebody will be interested in this one for something starting with a 4, and that should get close enough to get a deal done. I would look really closely at noise and dust in a unit like this, but they can be totally awesome if well-built and well-maintained.
7×9 is quite small for a bedroom. I think there is a minimum square footage for it to be considered a bedroom but I couldn’t find anything.
big stretch on the 3bed….2+ a den more like it
Edison Park bungalow or this loft? at the same price today, which will appreciate more (net of costs for the bungalow and assessments for the loft)?
The “views of downtown” must be simply stunning from the second floor…
I can’t imagine a 9×7 bedroom – to me, that is not a small bedroom but rather a large coffin.
I would be very interested in this place if not for the noise issues found in timber loft buildings. But someone will probably buy it and not care.
2006 conversion is a huge red flag.
This is really a 2 bedroom + Den. Still, priced right those units are moving very quickly in the WL. I used to live in this building, and it’s a good building, although it has had it’s fair share of short sales REO sales due to original sales at peak prices. This is a corner unit, but the building next to it is very close, so one of the balconies is pretty claustrophobic and the windows in the second and third bedroom offer a view of a very close brick wall and limited light.
If it was $380K this would be under offer in a week. I don’t see it selling for over $400K in a rush.
“7×9 is quite small for a bedroom”
I believe that’s the bedroom you see behind the kitchen, in a normal conversion that would be some sort of walk in pantry/storage area and the kitchen would be back a few feet further
The view seems drab to me, facing so many other buildings. There is nothing special or impressive about this unit despite it being priced as though it was special/impressive.
Those assessments are killer for a 2+den… I’d be willing to guess that this closes over 400K, but not by much.
People pay that much money, for a place with a bedroom that has a window looking directly..at another brick wall???
“We Love 3-Bedroom Authentic Brick And Timber Lofts”
Do we?
“Those assessments are killer for a 2+den… I’d be willing to guess that this closes over 400K, but not by much.”
True on the assessments! On the price, it sounds like you are saying the list is a good one because I’d expect a listing around $425k to close much closer to $400k and parking extra I think is just a joke or planned negotiating factor.
“I would be very interested in this place if not for the noise issues found in timber loft buildings. But someone will probably buy it and not care.”
If I remember correctly, there is concrete b/w floors in this building which should cut down on sound attenuation.
Looks nice. We had friends that lived here and they really liked the building.
As for the bedroom that looks at a brick wall lets not overlook the fact that almost every condo built in the GZ since 2004 is built on a 25×125 lot. Those side bedrooms ALL look out at the next door neighbors wall.this unit seems to have more open space windows than most units.
Sells over 400k for sure…but parking is included in the price!
It’s just gone contingent.