We Love Authentic Lofts: 727 S. Dearborn in Printers Row
There’s something cool about the Donohue Annex at 727 S. Dearborn in Printers Row. It’s attached to the Donohue next door but it’s not timber, it’s concrete lofts.
This large brick 2-bedroom loft is on the market. Here’s the listing:
Incredibly spacious 2200+sf AUTHENTIC TRUE LOFT in HISTORIC Donohue Annex!
This elegant, highly upgraded LOFT feat: dramatic, open loft flr plan, soaring ceilings, expsd brk, hrdwd flrs throughout, gourmet kit w/granite counters, island & sub-zero appl, spa Kohler bath w/claw foot tub, WBFP , lrg floor to ceiling windows, W/D in unit, ROOF RIGHTS!
PKNG avail. Prime Printer’s Row location steps from EVERYTHING
Schwind Realty & Development has the listing. See more pictures here.
Unit #910: 2 bedrooms, 1.5 baths, 2200 square feet
- Sold in October 1989 for $80,000
- Sold in July 1997 for $227,000
- Currently listed for $592,500
- Assessments of $970 a month
- Taxes of $4,691
- Parking available nearby for $48,000
- No central air- window units
That’s amazing, they spent all kinds of money on renovating a loft and forgot to put the central air in… nothing makes me happier than spending almost $600K for a place with ugly window AC and radiator heat…
Those assessments are insane. Why not just move into a co-op on LSD? You could get at 2500 square foot 3 bed 2 bath place in a beautiful old building for a hell of a lot less than 600K.
It’s an easy thing to change but what does one think when they get a see thru fridge. Very cool when I first saw it but who wants to see the mess usually in a fridge. Thats all I need with a clean freak wife.
“honey, friends are coming over and you left the half eaten chicken in clear view”
I’ve never understood the see-through fridge, either. Would only seem to make sense if you keep nothing but bottled beverages on hand.
a single window ac unit will easily, easily cool the entire unit for the summer. no problem. and the whole building is heated via the boiler/radiator heat – and it MORE than gets the job done. further, the heat is part of the assessments. this building is landmark and built more than 100 yrs ago. the higher assessments go to preserve that. there has NEVER been a special assessment in the building. in addition, the maintenance staff is super – they pick up your trash from outside your door! and keep everything in tip top shape! amazing location, beautiful floors, huge windows, bird-cage elevators, great location. 🙂 touch of manhatten in chicago.
The best thing about the Donahue (and the majority of the named buildings in Printer’s Row) is that they are truly “one of a kind” units. The bad news is not too many people these days are going to want to pay over half a million dollars for a space where they will have to shell out even more money to make it more to their taste when they can take that same amount of money and get a space ,ore customized to their liking.
Then again, it IS the Donahue, so…
am i right to assume this a top floor unit? the fact that it comes with roof rights is enough for me to justify the price. plus the donahue is one of the most amazing buildings in the neighborhood. wish i had the money to grab this spot.
I lived in this building, Unit 410, (or rather shacked up with a long time girlfriend) and loved it. A couple of issues though – there are commercial users mixed in. I wasn’t crazy about the customers visiting the hairdresser upstairs. Also there WAS a very large special assessment (in the mid-1990’s I think). My gf didn’t make me contribute at least. I worked it off in trade! Anyway, great building, but you certainly have to pay a premium for the ambiance.
This is no longer on the market. Anyone know what it went for?
It didn’t sell. The listing expired on 11/25/08 after 44 days on the market at $592,500.
It appears there was a new first mortgage for $357,000 in 10/05 and a $50,000 2nd still outstanding from 12/02.
Maybe they took it off the market for a few months until the real estate market recovers! I mean its not like they can just give the place away.
😀
I have a feeling we’ll see this property after the superbowl….for $610,000.
Thanks, G! I keep waiting for the Printer’s Row lofts to capitulate.
Damn you, Hank Paulson! Your dastardly plan to purchase FNM/FRE debt to drive drive mortgage interest rates down to absurd levels has even me contemplating a purchase! But don’t give up on me, bears, I understand that every dollar I save on interest is a dollar whacked off the value of the place when those interest rates rise again, as they must.
Still, as a plan, it’s far better than the one floated–was it just last night?–to offer 4.5% interest rates to new buyers. Either way you drive rates down, it has that bounce-back effect. But if the Keynesians care less about the actual price of houses, than about simply getting dollars into the hands of citizens as fast as possible, then the cheap mortgage rates available to *everyone* is probably as good a way to do that as any. People who can’t afford to buy still won’t (which is good–see the rebound effect), but people who already own, even those who have completely paid off their mortgage, can refinance.
It’s risky. It might just reflate the bubble. But it also might actually work.