We Love Authentic Lofts: Brick and Timber at 1500 W. Monroe in the West Loop
This 3-bedroom authentic loft at the Park 1500 Lofts at 1500 W. Monroe in the West Loop just went under contract.
It has been reduced $50,000 since January.
It’s rare to see 3-bedroom lofts in this price range.
The listing says the loft has 14-foot high timber ceilings. And the bedrooms appear “authentic”- with no doors or full walls.
Is someone getting a “deal” on this?
Susan Wooten at Koenig & Strey has the listing. See more pictures here.
Unit #502: 3 bedrooms, 2 baths, no square footage listed
- Sold in February 2002 for $283,500
- Sold in August 2006 for $365,000
- Originally listed in January 2009 for $350,000
- Reduced several times
- Currently listed for $300,000 (parking is $25,000 extra)
- Under contract
- Assessments of $380 a month
- Taxes of $3810
- Listing says “corporate inventory”
- Bedroom #1: 12×14
- Bedroom #2: 12×12
- Bedroom #3: 10×8
- Central Air
- W/D in the unit
10×8 isnt a bedroom, its a den/office. This is a 2br.
None of the K&S picture links are working for me in the last couple posts…
The link is broken…
The links are not working for me, either, for the last 4 or more.
if you go to one of the realtor sites directly, you can search by entering that MLS number: http://www.rubloff.com I agree that a 10×8 should be called an office/den/dining area. I think this unit was a great deal.
If I had known about this unit, I probably would have bought it.
That’s a really attractive unit for the price.
Someone got a pretty good deal, I wonder how many sqft? if its a legit 1500 that’s a pretty solid deal. Any decks/balconies on this thing?
wow, another great place at a good price. im starting to see some of those nowadays.
Whoa. If I had known about this unit I would have bought it. It’s just what we are looking for.. and the 3rd bedroom that is really an office is fine.. that’s what I plan to use it for.
Today’s ‘deals’ become tomorrow’s comps; and in a downward market there will surely be more ‘deals’ forthcoming.
Woah, right by the United Center. Little far west and a lot “bad area”. Do not want.
Looks like parking might be outdoors, so it might not be quite the deal I first thought it was.
At least its two blocks East of the United Center. That’s a pretty good area compared to west of the United Center.
There’s a decent amount of auto break-ins in the area, and a single truck fire house around the corner, but it’s pretty quiet apart from that. Always a decent amount of dog walkers in and around the park.
Let me get this straight: three bedrooms, 0 privacy. That sounds like a nightmare for every conceivable demographic.
“Let me get this straight: three bedrooms, 0 privacy. That sounds like a nightmare for every conceivable demographic.”
Really, 2BR + den. And what about swingers and the polyamorous? Are they not a legitimate demographic?
I’m currently renting a 2BR in this building. To answer some questions and address concerns:
– Parking is indoors in the Skytech building next door. Both are managed as one property.
– It’s east of Ashland, so you’re still in a decent area. The city’s OEMC is across the street, and it has guards on duty on the street 24×7. Wander more than a block or two west, however, and things quickly change for the worse.
– The firehouse typically doesn’t use the siren/horn unless it has to. I can only recall being woken up once in the past year because of it.
– The scaffolding along the front has been up for almost a year now. Not sure what is taking so long.
– There was a minor revolt against the building management (not sure if it was the elected board or the management company) last fall but I haven’t heard anything lately.
– Probably the biggest hassle with the immediate area is traffic if there’s a big event at the U.C.
“10×8 isnt a bedroom, its a den/office.”
Then my home has two offices and no bedrooms!
anon (tfo) thanks for the laugh.
Yeah, I’d think that at least the master BR would have complete walls – maybe one of the more progressive couples want junior to be exposed to the sounds of parental love-making?
Not a fan of the area. The closer you get to the UC, the worse it gets. It’s pretty far west. The neighborhood has a lot of room for improvement. I’d rather pay more later and not have to worry as much about my wife/kids walking around late at night.
No, no, no, you guys have it all wrong. You’re all thinking about the target market as families? No way man. This is a “loft”. Think “chic”, “urbane”, “cosmopolitan”. Maude Lebowski doesn’t need full height walls, all she needs is a trapeze. Art loft people don’t need privacy: they have nothing to hide, certainly not their awesomeness.
Remember economic constraints and practicalities are for mere mortals to worry about. These are art center museum attending sophistos, obviously they don’t need full height walls because their mere sophistication and hubris alone will help fill out any non-complete wall height.
Hell I’d bet that whatever arty person buys this will have such an aura of complete sophistication and grandiosity that the Bull’s and Hawks season’s alone could get a bump of a couple of wins from the mere proximity of this sleek urbanite.
I live a bit more than 2 blocks directly east of this loft and I do have to say, it is a very quiet neighborhood. Other than the many dog walkers in Skinner Park there is not much activity.
You also have to consider the CPD training building on Jackson/Adams and Throop, as well as the PD a couple of blocks away on Racine and Monroe, so there is a strong presence of police 24/7. I think that alone makes this a somewhat safe and quiet area.
As far as UIC, it is across the 290/blue line and very few college kids stray into this area.
Just recently completed are a 7 unit, floor thru building starting @ $740k and one 8 unit bldg. that is finishing now starting @ $545+. Also, a block of very nice and rehabbed Victorians sits on Jackson and Ashland, so I don’t think this is that dangerous a neighborhood. I can think of quite a few other neighborhoods that would probably be a lot more ‘colorful’ in Chicago, so I would not worry too much about that aspect of it. Really, where in Chicago are you ‘safe’ and crime free?
A new school is in the finishing stages as well across the park.
Overall, this is a very nice and well maintained building. I always wondered what the price range was for units here was as the two top floors facing east have huge terraces overlooking the skyline.
Bob just where the hell do you live that you can constantly degrade every neighborhood and it’s residents the way you do? I mean, come on now…I have not read any of your comments where there is even the slightest hint of approval, if not for the area then it’s residents!
My apologies it was meant to be a joke. Obviously my sense of humor monday is irritating to more than one so I will try to tone it down. Please don’t take my comments as ridicule I was attempting to convey humor. C’mon don’t be so sensitive.
I don’t know anything about this area so can’t comment on this unit beyond what I see in the pics. Even though not practical it does appear to be priced right and went under contract quickly.
Nice, but I’m not too fond of the area. A friend of mine lives on Ashland at Madison and I don’t like walking around alone. Not that I like walking around alone anywhere…
Good price for sure.
Bob-aren’t you the person who disparages teaching as a profession?
Sorry about the broken link on this one. KSGMAC must have already removed it from their site (though it was a live link yesterday.)
You’ll have to make do with the pictures here or try and find it on one of the other realtor websites (sometimes the listings stay on the other sites for a longer period of time.)
Lofts aren’t supposed to have full-height walls… that’s the whole point of a loft. Complaining that a loft doesn’t have a fully enclosed bedroom is silly. If that’s what you need, then a real loft isn’t for you.
That being said, this is a nice unit at a nice price. The view is a bit of a bummer, and I bet this unit is actually kind of dark. It faces north, and has a view of the L-shaped skytech building. Across the street to the south is a Salvation Army boarding house type thing. But overall very nice.
The link is gone because the property has gone under contract.
“Today’s ‘deals’ become tomorrow’s comps; and in a downward market there will surely be more ‘deals’ forthcoming.”
You sound like a goddam broken record. Actually, everyone on this site does… not sure why we all bother to comment the same shit everyday.
“The link is gone because the property has gone under contract.”
JC: The link was still active when I linked to it and it was also under contract at that time.
Additonally, some brokers keep “under contract” listings on their site for quite some time (Baird Warner being one of those.) Evidently, Koenig & Strey does not keep them on very long.
I forgot to add, hailing a cab if there’s an event letting out at the United Center is a difficult task. You’re almost better off walking down Madison towards Halsted.
“My apologies it was meant to be a joke. Obviously my sense of humor monday is irritating to more than one so I will try to tone it down. Please don’t take my comments as ridicule I was attempting to convey humor. C’mon don’t be so sensitive.”
You are forgiven. I have learned to come in with my boxing glovs on lately.
I still would LOVE to know where you reside as your frequent comments about neighborhoods are always rather…interesting. Now that we know you are NOT a hipster, exactly where does your demographic call home?
Re: Ashland, I have noticed so many rehabbed or new units directly on that street up to Milwaukee that have seemingly been abandoned before completion. Perhaps that street is the cut off line for property investment? I know I have not considered anything west of Ashland at all.
I think of myself more like a top 40 radio station.
“You sound like a goddam broken record.”
“Perhaps [Ashland] is the cut off line for property investment?”
Nah. But most of what is west of Ashland *may* be currently overpriced. There’s plenty of re-hab possibility west of Ashland further north (north of the River)–but they may not fit your M.O., WL.
“I think of myself more like a top 40 radio station.”
I’d rather listen to a broken record, HD.
Anon, ur right the river is the real demarcation line, for the Northside. Luckily the other side isn’t so bad , expressway, blue line, make it a logical extension of investment dollars.
“Luckily the other side isn’t so bad , expressway, blue line, make it a logical extension of investment dollars.”
Oh, I agree, but wanted to make an unassailable point to counter WL’s thought (yes, just a thought, not even an opinion) that Ashland might mark the end of the earth.
Now, addressing WL’s underlying observation–there is NO WAY I’d have anything to do with a residential unit on Ashland, Western, or any other major (i.e., no stop signs on the street–Damen is not a major street in my formulation) street. What you saw on Ashland is b/c Ashland is a horrible, horrible place to live (imo).