We Love Authentic Lofts: 2-Bedrooms For $275K in the West Loop: 417 S. Jefferson
This 2-bedroom authentic loft at the Gotham Lofts at 417 S. Jefferson was recently reduced $10,000.
It is now priced $27,500 under the 2008 purchase price.
The Gotham Lofts consists of 2 buildings and was a former manufacturing facility for the Western Electric Company that made switchboards and fire alarms.
It was converted into lofts in 2000 and much of the original brickwork and beams remain. Some of the timber ceilings were too heavily damaged and could not be saved (but it depends on what floor and building you are in.)
This loft does not have timber ceilings but several wood exposed beams run the length of the unit.
The kitchen has stainless steel appliances and granite counter tops.
The unit has other bells and whistles buyers are looking for with central air, in-unit washer/dryer and garage parking.
The loft also has views of the downtown, including the Willis Tower, from the balcony.
At this reduced price in this neighborhood, is this a deal?
Sheri Blakely at Sudler Sotheby’s has the listing. See more pictures here.
Unit #205: 2 bedrooms, 2 baths, 1255 square feet
- Sold in July 2000 for $260,500
- Sold in April 2002 for $270,000
- Sold in July 2005 for $315,000
- Sold in December 2008 for $302,500
- Originally listed in June 2010 for $285,500 (included the parking)
- Listed in July 2010 for $255,000 (parking $30,000)
- Reduced
- Currently listed for $245,000 (parking $30,000)
- Assessments of $457 a month
- Taxes of $4384
- Central Air
- In-unit washer/dryer
- Bedroom #1: 13×12
- Bedroom #2: 14×10
sure include parking in the price; assm should be 100 bucks off for what they offer.
Funny…this one is currently flagged for me for this weekend. It looks promising. I think the assessments are a little on the high side, given no HVAC included but the price looks good.
Listing doesn’t show a reduction, it says $285.5K with parking
This seems like a really great place (especially for a bachelor)!!! The price is very good – the only thing I don’t know about is the area (especially at night).
clio its deadly at night
“This seems like a really great place (especially for a bachelor)!!! The price is very good – the only thing I don’t know about is the area (especially at night).”
“clio its deadly at night”
that’s what I suspected – it’s also probably why the price is so low.
None of the bedrooms have windows…
from the way the summer has gone, this area of the city is less worrisome than North Avenue Beach at night or even Streeterville/Michigan Avenue at night.
if you think i’m crazy than you haven’t been paying attention.
Don’t know what ‘revassal’ knows, but I lived in the partner building (420 S Clinton) for two years a year ago. Very quiet at night and on the weekends given that it is so close to the loop biz dist. It was too quiet for me as there were not a lot of close dining options. (Though the Korean BBQ place across the street with the spray painted awning is quite good and cheap!)
But very safe and the Clinton blue line stop is right there. The parking is both parking lot, covered garage and indoor garage. I had a spot in the indoor (which is under this building) and it was 72 degrees EVERY DAY due to the turn-of-the-century construction.
This seems to be a North facing building which is opposite the Eisenhower, so not much noise and good views. Rood deck as well.
“Don’t know what ‘revassal’ knows”
“revassal” was being sarcastic…..
Deadly? This area is no worse than Bucktown, Wicker Park, Ukranian Village, etc. I have lived in all of these areas for extended periods of time, so I can attest to that.
@dailynews
re: Koreen BBQ place….oh the coincidence. I used to live directly above that place. Back then it was a dingy dive run by a raging alcoholic. He was the best landlord ever. The lease signing itself took 2 hour and he downed 4 beers solo, at 10am.
That place and most of the upstairs apartment burned down a few years later. Hopefully it took all the roaches with it, that place was filty. I’ll assume that the BBQ place is much more sanitary.
As to the neighborhood, I thought it was great. You’re a block from the loop/downtown, yet still just far enough so it not overcrowded. My apartment had 4 cars and we allways found street parking. It was very strange, magical even. The big downside was that there wasn’t much retail/food/etc in the immediate 1-2 blocks. And since it was the loop(ish), everything shut down on the weekends.
Looks like this place has had a couple of knife-catchers, but none who could hold on to it.
Deadly boring but far from deadly! I’d die of a heart attack if I lived that close to Lou Mitchell’s,
would it be the donuts or the omelettes to ultimately do you in?
I used to work in this building in the late 80s when there were printing and graphic companies in the building and all up and down Jefferson. Jefferson was the printers row of the 70s and 80s.
actually a positve that it has some dry-wall on the ceilings.
Might be quieter. the timber loft ceilings are not sound proof in any way.
the hood is quiet on weekends and at night.
place is worth considering.
first thing I would do is tear out the stupid fake fireplace
does anyone worry about getting cancer from residual chemicals? it is a known risk for several types of cancer and there has been speculation that cancer risks for people living in converted lofts that were previously utilized as printing facilities/paint factories, etc. are higher than the general population. Unfortunately, I don’t have any “hard” data,a but I will look if anyone is interested…
I spoke with the listing agent on this unit earlier today and she told me it’s under contract.
fun fact: pretty sure there was a unit in this building on HGTV’s property virgins last year.
Based on the photos I believe that both bedrooms do not have windows. I really dislike these deep lofts with few windows.
I actually confirmed with the agent this morning that there were no windows.
whitecity – i was thinking the same thing actually! i am pretty sure it was. it was the older man from the burbs who was moving to the city to be closer to his kids/ grandkids. he had a bunch of bikes. right?
Well at least your bedroom will be dark at night…
Gotta look at the bright side of things sometimes…
“I spoke with the listing agent on this unit earlier today and she told me it’s under contract”
Good for the buyer!!! He/she obviously got a great deal and, despite all of the negative comments on this site about buying vs renting, he/she will likely enjoy their new place and will almost certainly make money on this deal.
Roma- the donuts omlets sausage and hash browns would do me in
Clio- I’d bet that the walls and ceilings were sandblasted and or power washed when converted. As for cancer I’d also worry more about all that asbestos flying around in basements all over Chicago. How many homeowners have pulled down rotting covers over their pipes distrurbing the asbestos lined fibers wiithout realizing that they were putting their families at risk.
It is an issue but not a big one!
The danger of contracting cancer due to asbestos in old brick construction warehouses or factories that have been converted to lofts is slim to none. All you have are brick walls and usually wood or concrete floors.
During the construction process the pipes (some lined with asbestos covers) most likely were stripped and thoroughly cleaned thereby eliminating any health hazards.
I know when we did my building, an 18,000 sq ft hardware producing factory, we sandblasted the foot and a half thick brick walls inside and out, concrete floors and sanded the timber ceilings. After, all were primed and painted or stained. The pipes did have a fiber covering (which did not contain asbestos) but they too were chemically stripped and repainted.
NO danger at all and this is true for most loft to residential conversions.
As far as not having windows in loft unit bedrooms, if the windows are large enough and ceilings are high enough, this does not pose a problem whatsoever. What does cause a lack of light usually is the ill fitting and thick window coverings which ppl install to block out the light…only to then bitch about lack of light reaching the interior space. In my place, I don’t have to turn on any lights during the day as the natural light is more than enough…even for this old(er) man to read.
Don’t fret if you were thinking of bidding on this one. Unit 312 in this building is also availalbe, a one/one for $199K incl. parking. And it’s FHA approved!