We Love Authentic Lofts: $24K Reduction on 2650 W. Belden in Logan Square
We last chattered about this massive 2000-square foot loft at 2650 W. Belden in Logan Square in early February 2009.
Since then, the loft has been reduced another $24,000.
See our prior chatter and more pictures here.
Laura Pentecost at @Properties has the listing. See her website here.
See more pictures here.
Unit #315: 2 bedrooms, 2 baths, 2000 square feet
- Sold in December 1996 for $201,000
- Sold in June 2002 for $350,000
- Originally listed in June 2008 for $439,900
- Reduced
- Was listed in February 2009 at $399,000 (parking is $15,000 extra)
- Reduced
- Currently listed at $375,000 (parking is $15,000 extra)
- Assessments of $454 a month
- Taxes of $3807
- Central Air
- Washer/Dryer
- Skylights
So that’s about 187.50 a sq.ft. not including parking if my math is right. How’s that sound for Logan Square?
My friend used to live two blocks east of this place and she didn’t really like the area, her quote was “so many crazy people” so I dunno if the $/sqft is good or not. West of western, so who knows really. I like the look though, and 2000sqft is a great size. Interesting to see price drops in accordance with the price shiller (approx 20% drops since listed first)
“187.50 a sq.ft. … if my math is right”
Your math is right; altho I wouldn’t necessarily rely on the 2000 sqft. The listed room areas total ~1500, leaving 500 for 2 bathrooms, the upstairs hallway and closets, which seems generous–that is, I’d bet it’s based on a perimeter maeasurement of the main floor and the mezz/loft area and doesn’t deduct anything for stairs, walls, etc. and even then was rounded up a bit.
“so many crazy people”
I am now drawn to the area. 🙂
I hate exposed HVAC ductwork. It’s not part of the original aesthetic of the loft spaces and is just plain ugly to me. I’d like to see units like these done with baseboard or radiant floor heat (which would also be more energy efficient in these high-ceilinged places, since heat rises) and high-velocity miniduct central air — but I guess that would be too pricey for most of these conversions.
“I hate exposed HVAC ductwork.”
Well excuse us if you don’t like the Chipotle or Jimmy John’s look. Whenever I see a listing with the exposed ductwork I always wonder if it comes with a free burrito or gourmet sandwich..LOL!
First 3 thoughts coming back to Chicago.
1-Trump building surprisingly has no presence from the airplane view.
2-Deep dish pizza is really good.
3-White people get crazy white when they don’t see sun for an entire winter.
Oh and nothing wrong with exposed ductwork if it’s done right.
“Oh and nothing wrong with exposed ductwork if it’s done right.”
I didn’t say there was anything “wrong” with it. I said I think it’s ugly, regardless of whether it’s “done right.” Just my opinion.
Welcome back, Ze. I agree that for such a tall building you barely notice the Trump tower when flying into O’Hare.
Wick.. I was very surprised, I actually almost couldn’t find it, Hancock is such a nice building and wonder what people think of the architecture on thatnew doubletree byWabish Lake area… Now as for my USA bashing… you know what’s great about America. You can call up t-mobile 5 months after you discontinued service and they will pull your text messages up and give you the number of your weed dealer. And I was worried I would need to ask Bob where his homeless guy was. 🙂 USA..USA!!!
Very nice unit, price per sq ft looks reasonable.
dd,
I am curious as to what basis you make your statement that ppsf looks reasonable. What metric or rationale are you using?
off topic question, although real estate related.
I looked at a piece of rural real estate last week that seems very reasonably priced, although I don’t know the area well and public records are not available like they are in Chicago. We know that the seller bought it 9 years ago, and we asked the realtor to find out what they paid for it. The seller told the realtor that they don’t want to say, that we wouldn’t have looked at the place the way it was when they bought it, that they have put a lot of work into it and the asking price is fair. Now my husband thinks we were out of line asking and that it will hurt our negotiations. To me it seemed like a reasonable request, but maybe I was wrong?
Seems like a good question to ask and you should require an answer – you should also ask for specifics on the work that was put into it.
Juliana,
I think you were well within your rights to ask. People from smaller towns might be touchier about money issues but I don’t think it’ll impact your negotiations. But I’m thinking you could still go to the county seat and sit down in front of an ancient computer terminal and get the answers you need — what is your realtor telling you?
Juliana,
Very reasonable request but also a reasonable response. When you are buying and selling things there is nothing you are not entitled to at least ask so long as you ask politely. Nevertheless it’s hard for us city people to figure out things like added value of fertilizing a property properly for 20 years or building a trout ladder with pools. Guess you gotta go with comparables a bit more than trying to see added value. Good luck.
The place is obviously well kept, a perfect little homestead with a river running through it. Roosters crowing, cows grazing, amazing organic garden, idyllic setting. We’ve fallen in love with the idea of it, but making such a jump is frightening. The cost is much lower than we anticipated. We could do it for cash and not have to sell anything. We are trying to come up with a downside. We were ready to make an offer, but well meaning friends suggested caution, which is why we asked about the previous sale. Anything to slow us down and make sure we aren’t being crazy. The reason we were looking in the first place was armageddon insurance but now we are dreaming about green acres.
Ze: “Nevertheless it’s hard for us city people to figure out things like added value of fertilizing a property properly for 20 years or building a trout ladder with pools.”
Jules… just look at comparables… do your due diligence but like you said, in the end you get both, armageddon insurance and more importantly a lovely place to unwind and play with. The sound of a river flowing is just priceless.
Now I’m off to enjoy the city 🙂 What relatively nice weather I got.