We Love Authentic Lofts: Another Reduction in 711 S. Dearborn
We’ve chattered about this 1500 square foot brick and timber 1-bedroom loft in the Donohue Building at 711 S. Dearborn in Printers Row several times.
It’s been reduced another $20k.
The listing now says that a “2nd Bdrm/Bath can be added”.
Is the problem that it’s “only” a 1-bedroom unit?
See some pictures and our old chatter here.
Tom Feddor at Keller Williams has the listing. See more pictures and a virtual tour here.
Unit #602: 1 bedroom, 1 bath, 1500 square feet
- Sold in September 2003 for $290,000
- Sold in September 2005 for $320,000
- Was listed in September 2008 for $384,900
- Reduced
- Was listed in November 2008 for $379,900
- Reduced
- Currently listed for $359,900
- Assessments of $670 a month
- Taxes of $4502
- No central air (one window unit)
- No parking (but available for rent or purchase in the neighborhood)
- Washer/dryer in the unit
Well at least it’s a nicely done website. Gets interesting with lower prices what some of these assesments are starting to look like compared to the prices of the apartment.
Ditto on the quality site. Usually have no patience for “videos” that just pan over the still shots… but this one actually drew me in. The front door of the building at the end is very inviting.
Why not post a floorplan though? I’ve actually noticed that most agents in Chicago don’t bother to post them. If I’m trying to get a feel for what it would feel like to live in a place (best I can from a website)… a floorplan goes a long way! (FP’s are standard operating procedure in NYC, so was surprised not to find them when I started my hunt here.)
Most owners don’t have floorplans because you’d have to be an original buyer. I agree it’s a great addition to an ad. I have floorplans of all my units on jpegs. But most realtors out there are just way to lazy to bother with things like decent photos, floor plans and amenities listings. They just like to use a lot of adjectives, abbreviatioins and run on sentences.
I have found that I know more than realtors do on their own properties – the buildings, neighborhood, financial condition, etc. All they know is that the kitchen has a double sink, and it has a lofted storage area, and other random things that an investor doesn’t give two sh*ts about.
Part of NYC having floorplans is that it is required with co-op purchases there (and often common here) so they are easily accessible. But you almost always find plans with English and Scandinavian listings as well, so I think it’s just laziness (and the fact that most American’s probably can’t read plans anyway) on the realtors part.
I love the looks of this place, like many in this building, but couldn’t deal with the inter-unit noise transmission which I understand is pretty bad in this building. That has to significantly restrict the potential buyer pool.
True – the noise can be bad in this building, and there’s no parking and no central AC. I have a friend who owns there. But it’s a really lovely building and the units are beautiful, and it’s a great location.
Only 1 bedroom, no central air, no parking, no thanks! Beautiful loft that I really like the look of, but I’m not sure who it would really appeal to at that price point.
obviously not your poor ass.
I sure hope you stick around MADFLY. The fate of your condo investment empire will provide a lot of amusement in the future.
G,
As with most shrewd investors: you always hear about their tales of success on the way up. I remember in the late ’90s hearing tales about how much money we were all making on dot com stocks. Its funny the cocktail chatter never changed to how much money everyone was losing in 2000-2002.
Not to mention how many of those “investors” continued buying tech stocks because they were such deals compared to only a short time prior. Just like today’s RE buyer, knife-catching is irresistible to some.