We Love Authentic Lofts: A Spa Bath in The Donohue at 711 S. Dearborn in Printers Row
We’ve chattered about lofts in the Donohue, one of the first warehouse-to-loft conversions in the city, at 711 S. Dearborn in Printers Row numerous times.
This 2-bedroom unit has been on the market since last June.
It is now listed for $43,500 under the 2007 purchase price and $6,000 under the 2002 purchase price.
Drywall has been put up over the timber ceilings, which helps with sound proofing in this building, but the timber beams and brick have been left exposed.
The unit faces the preferred west side, towards Dearborn Street.
It doesn’t have central air but there is an in-unit washer/dryer.
The bathrooms have also been updated and the listing says there is a spa master bath.
M. Lou Hamilton at Hamilton Realty Group has the listing. See the interior pictures here.
Unit #504: 2 bedrooms, 1.5 baths, 1450 square feet
- Sold in September 1990 for $130,000
- Sold in November 1992 for $295,000
- Sold in April 1994 for $245,000
- Sold in February 1999 for $215,000
- Sold in September 2002 for $345,000
- Sold in January 2007 for $382,500
- Originally listed in June 2009
- Reduced several times
- Currently listed for $339,000
- Assessments of $685 a month (includes heat)
- Taxes of $4257
- Washer/Dryer in the unit
- No Central Air
- No parking
Nice finishes, but no window in 2nd bedroom it looks like. Priced below 2002 sale price — isn’t this what you guys would consider a sure deal?
I think it goes for around $320,000. Too much competition at the current price point and lack of central air will knock it down. What are parking options in the area going for?
It looks to me like it needs a lot of work; finishes aren’t consistent throughout (not that they have to be – but some look questionable or not “lofty”) and stuff like that. The 99′ price looks good and might be an interesting story.
“Priced below 2002 sale price — isn’t this what you guys would consider a sure deal?”
Check the sale price thru the 90s. I’d say that there is nothing sure about the current or future sale price of this unit.
Funny how the unit changes hands every 2 to 5 years. I know that’s typical of lofts, but, it’s also typical of apartments. you would think its less expensive just to rent a similar unit. But you know, the whole ‘pride of ownership’ & ‘renters = losers’ thing
I’m going to lower my estimate to $300,000 based on comps in the area and also given that it’s not new construction. Previous sale prices have no bearing on market value.
“Check the sale price thru the 90s. I’d say that there is nothing sure about the current or future sale price of this unit.”
Good point, probably due to maintenance and neighborhood issues?
Rental parking can probably be found for $250-300 per month.
“probably due to maintenance and neighborhood issues”
I’d lean mostly to maintenance, but would only be speculating.
Nice place but there is a LOT I would change, like the useless closets way up high that you’d need a ladder to use (and i’m very tall!)
The second bathroom has zero cabinet space, i’d rip out that stupid pedistal sink (this isn’t the @#$!ing 1920’s!) and put a crappy ikea cabinet in there or something for at least some utility from the thing.
I’d drywall the brick in the bedroom
and are those bedrooms behind the kitchen sink AND stove? If so, i’d close those walls off first thing i’d do! I pan fry food sometimes when its too cold to grill outside, and would especially do that because it doesn’t appear there’s a balcony on this place to put a grill on!
I do think its a cool space, looks large and the price isn’t complete insanity but the no parking at this price point and in this neighborhood is kind of a deal killer.
Also, I hate those “estimated payment” calculators these shill websites have… yeah the enormous font ‘$1810 per month’ with 20% down… NOT including the $1k of assessments & taxes. give me a break!
“Rental parking can probably be found for $250-300 per month.”
If that is the case, and you cap it at 6%, you end up with a circa 55k capitalized value for parking. I usually figure it at 30-40k but $250+ seems high for monthly parking, so perhaps that is the value decrement.
Says who that the west is the preferred view? What an assumption.
The east view looks into the Columbia College and other loft buildings on a narrow street (Plymouth) and doesn’t get much natural light (because it’s mainly blocked.)
The west side of this building gets the most light.
I used to work in this building and I have been in this unit during a prior open house. The windows about the bed in the master are to the master bath. The second bedroom is not a bedroom whatsoever, just a space behind a wall that is too small to be used for much. That also means no closet space. (Although the master bedroom does have an entire wall, floor-to-ceiling devoted to storage.)