We Love Authentic Lofts Near Restaurants in the West Loop: 1000 W. Washington
It’s been over a year since we last chattered about a loft in 1000 W. Washington in the West Loop.
This is a popular loft building because of its location across the street from the Wishbone restaurant and Harpo Studios not to mention the string of restaurants on Randolph Street.
It also is well known for its authentic lofts, many with unique layouts.
This 2-bedroom unit has timber ceilings and exposed brick along with large windows with city views.
The kitchen has cabinets by Aristokraft, granite counter tops, a slate backsplash and stainless steel appliances. The bathrooms are Kohler.
Deeded parking is included and it has central air and a washer/dryer in the unit.
Rodolfo Zavala at Keller Williams Gold Coast has the listing. See the pictures here.
Unit #334: 2 bedrooms, 2 baths, 1650 square feet
- Sold in April 1996 for $206,000
- Sold in April 1999 for $250,000
- Sold in June 2002 for $320,000
- Sold in March 2005 for $375,000
- Originally listed in September 2010 for $524,900
- Reduced
- Currently listed for $514,900 (parking included)
- Assessments of $591 a month (includes doorman, cable)
- Taxes of $4723
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×11
- Bedroom #2: 15×11
I am the biggest cheerleader in real estate, but with this unit, I have to just shake my head and chuckle. The owners are obviously not in any rush to sell and maybe are just testing the market. This unit should probably go for close to what they paid for it in 2005. I can’t see anyone paying much over 400k for this place in this economy in this location in this building. no way…
List price 37% above the 2005 sale price…talk about throwing fresh meat to the CC crowd.
I like the place (for like 375k maybe) and would want a double sink in the master at that price point. Decorating is pretty decent, although a little “2005ish” dated. 515k for this place (even including parking!) on that block is pretty laughable. put this place in RN and it would work at that price but the west loop is just as screwed as the south loop IMO
That price seems a little bit “lofty” to me.
i hope they cleared up this problem……
http://chicago.curbed.com/archives/2010/10/26/my-condo-is-killing-me-seriously.php#more
Any true loft owners (cuurent or past) please help me with a question.
Why is it that most “true” lofts change hands every 3 years or so?
is it the sound travel? the lofty ass fee’s? is it so much space to get a comfortable temp?
i always wondered
Is it because the novelty of inviting your artsy-fartsy friends over for parties so you can show off your arty pad to them wears off in that timeframe?
what is with the slate tiles?
why do most lofts in Chicago look more like apartments than lofts,
Pick up a design magazine once and a while?
“Why is it that most “true” lofts change hands every 3 years or so?
is it the sound travel? the lofty ass fee’s? is it so much space to get a comfortable temp?”
not conducive to living with others or living with a family – as a single guy living alone, I would LOVE to live in a loft space – but I am very different than most people.
If you’re Rodolfo Zavala, do you take this listing at this price?
I don’t.
“Groove77 on December 15th, 2010 at 11:31 am
Why is it that most “true” lofts change hands every 3 years or so?
is it the sound travel? the lofty ass fee’s? is it so much space to get a comfortable temp?”
Do you have a source for that stat?
Most of the owners in my building have owned for 10+ years.
“Why is it that most “true” lofts change hands every 3 years or so?
is it the sound travel? the lofty ass fee’s? is it so much space to get a comfortable temp?”
My partner and I have lived in our loft for almost 9 years now and wouldn’t consider moving back into a traditional condo. All those small rooms, low ceilings and hallways make me feel cramped. We have no noise-transfer issues and temp control isn’t an issue either.
Whenever friends want to get together, it’s always at our place because no one else has room to accomodate more than 6 people. BTW, only one of my friends would be considered ‘arty.’
With all that said, I don’t have a baby trying to sleep or a school aged kid to worry about. Which is why I get 8 hours of sleep a night and have a fully funded retirement.
Um, no: http://www.1000westlofts-lawsuit.com.
LOL Kevin, so true
Holy crap, Rachael – thanks for the info. These poor homeowners… I would get out ASAP!!!
This building has real construction defects that the association has not fixed. Its true that many buildings built since 1998 have at one point sued the developer. However, these were for construction defects that were not terminatl to the building. The condo had to do some repairs that they didn’t feel they should have to in such a new building….it cost some cash, but the problems were fixed. Nothing terminal. Not the case with this building. This many lawyers/lawsuits says that not only are their problems with the building. They are not fixed. Its too bad b/c the architecture is fabulous.
I live in a loft and the turn over is b/c builders tried to squeeze every ounce of profit from the building and made smaller units. People who want to stay long term have build full height walls to bedrooms and combined with neighboring units. No sound problems in my concrete loft. Much quieter than my former highrise.
Great link Rachael, thanks also,
I looked at these units a couple of years ago and whilst no-one talked about the 541 issues, the attitude of the owners i met was very peculiar. Also the level of renovation in these units is very mixed.
The really tough bit is that a title search may not reveal this hidden liability and amazingly this building is FHA approved! I worked on getting a 4-unit, fully up-to-date, in code, fully owner occupied building approved and 4 months later the buyer just walked away. It remains unapproved and I had to find a conventional buyer.
Has anyone else had experience of the FHA approval journey since spot approvals died?
Bob, do you wake up angry at the world?
deep breaths, man. some people live in lofts because they like the space.
place is obviously overpriced…with no issues with the building i’d say they’ve have a tough time getting much more than $250-$260/SF and i’d say that’s generous.
bring in issues with the building and now you’re talking $230-$250?
corner unit, balcony…pretty good views, with parking. i’d say $375-$400K is about right. could see $425K if they got lucky with the right buyer.
but they can’t be serious about selling at that list. $312/SF is just too far out of line with the comps in the West Loop.
Wow, that website that Rachael shared makes me hate lawyers and condos even more than I already do.
“It also is well known for its authentic lofts, many with unique layouts.”
It is much more well known for what Rachel and a local pointed out.
your life will suck so much if you buy this.
“Do you have a source for that stat? Most of the owners in my building have owned for 10+ years.”
no source, as i knew do anyway, but i have been a secretly wanting to own a “real” loft for like for ever. so i have followed a few in P Row and WL that have it the MLS at with the Internets mass info as of the past few years i just notice a trend. thats all. and thats why i shoot the question out there to know a bit more.
“With all that said, I don’t have a baby trying to sleep or a school aged kid to worry about. Which is why I get 8 hours of sleep a night and have a fully funded retirement”
Kevin, thank you for you answer. and this christmas i wish we had a loft all our front room furniture will be in the garage to accommodate a extra dining table.
“No sound problems in my concrete loft. Much quieter than my former highrise.”
so a local, your opinion would be a concrete loft not the cool looking brick/timber?
I have no preferene between a concrete loft or brick timber. My experience has only been with a concrete loft with exposed brick walls that’s all. I’m told timber lofts have more dust and are not as sound proof. But again, that is what I have heard. I have no experience with brick/timber lofts…only concrete lofts. In any event, I personally prefer lofts with wide open common areas, high ceilings, and large windows…over highrises and walk-ups.
I knew that address sounded familiar, the living area looks really nice but stay the heck away!
“Groove77 on December 15th, 2010 at 1:46 pm
so a local, your opinion would be a concrete loft not the cool looking brick/timber?”
Having lived in both, RUN, don’t walk, from timberlofts. I could hear every click of the dog’s nails and every shoe-wearing footstep upstairs in the timberloft I lived in. It looks cool but it SUCKS for noise isolation.
I have concrete floors and ceilings now and I don’t hear anything.
i have lived in both as well. Concrete is def. better with noise. My timber loft isn’t that bad (i don’t hear the dog’s nails or anything) but the concrete was certainly quiet.
re: the lawsuit
these issues have been on going for years. Financing is going to be a big problem now that the loose & fast boom times are done. This building is on ‘Do Not Lend’ list. Eric Rojas had a post on it; I caught it via Curbed.
http://www.chicagonow.com/blogs/chicago-real-estate-getting-real/2010/12/why-a-mortgage-may-be-hard-to-get-the-no-lend-list.html
Thank you much Alocal and Bradford.
i want to say 70% the lofts that i see pop up again over the years (and ones i was drawn to) were the timber ones. so i guess i answered my question about the 3 year thing 🙂
I have a few more loft question if you gotz the time.
Temp control in such a large open space, how is it?
also i heard older lofts cant do in unit W/D, true?
Air flow when only front windows, how is it?
noise travel with in the unit, say i rip buttt in the foyer will wife yell at me from the couch? (also see air flow above)
groove77- I will try to help as well- i live in a timber and rent out my concrete (stupid economy):
my timber loft has 16 foot ceilings. I think the main floor is warm at 68 (which seems right) but the lofted area where I have my studio does get warmer. so, if i plan on working up there all day i keep the heat down. my concrete loft had 12 foot ceilings and it was an even temp- i didn’t have an actual “lofted” space- just one big open space.
my timber loft converted in the early 90’s and has washer/dryer. my concrete loft converted in 2002 or something- no washer/dryer.
for airflow i use fans in the windows. if I could do it again I would do a corner unit to get windows on both sides.
noise travel..um- like any other space.
Temp control is all about reversible ceiling fans. I have 12 foot ceilings and you need fans running in reverse to keep the hot air from simply heating the guy’s floor above you. Also, if it’s a large space, zone the HVAC. I have 3 HVAC systems, but it’s a large space. I let it get down to 61 in the evenings everywhere but the master suite. It’s at 61 during the day in the whole loft while we’re at work. I’ve got concrete floors, exposed brick, lots of huge windows, skylights, and a 50×30 room with a corrugated steel ceiling and rubber roof, and I’m still able to keep it more than comfortable for about a buck a square foot, annually.
Washer Dryer: Dunno about washer but our loft did not have an exterior vent for the dryer and the HOA doesn’t allow modifications to the exterior, so we couldn’t run one. We use a lint trap, but not all HOAs might allow it, I’m not sure. It’s just a bucket at the end of the vent with a little water in it to collect any airborne lint in the exhaust.
Not sure about front windows only. We are on the corner of the building and get great cross-vent. Pull the weatherstripping from your front door and you’d probably get a draw. Not sure that would be the optimal solution though. =)
Noise travel in the unit isn’t an issue for me. The rooms that we want separate have full walls to the ceiling. The ones we don’t, don’t.
YMMV.
Bradford, how is your place for dust? I always assumed that open windows in your bldg might be a problem with the rail yard and open material storage (salt? gravel?) nearby. The privacy of the industrial surroundings is a plus to some people, though.
I don’t leave the windows open long-term, really, so it’s not a major issue.
The industrial area to the South is great because it’s a natural buffer zone that stretches all the way from Western to Sacramento, largely keeping the undesireables from the area to the South out of the Smith Park neighborhood.
“Having lived in both, RUN, don’t walk, from timber lofts”
This is an out of context comment from one perspective. Our timber loft building poured concrete between each floor. This cut the sound down very well. Right now I am in my office. This is a retail space with a three flat on top. It was built in 2006 and has drywall ceilings. There is WAY more sound transfer in this place than in my timber loft. Not all things are created equal.
“Temp control in such a large open space, how is it?”
Pretty good. While heat and cooling costs are higher than a standard condo realize that it is because there is often 50% more cubic volume in a lost space. Some developers do not put a powerful enough system to handle that load.
“i heard older lofts cant do in unit W/D, true?”
This is a plumbing issue. Some older high rises experience the same issue. Old building old sized pipes or limited access to vents. We have no issues in our place.
“Air flow when only front windows, how is it”
That would suck. This is the same issue with a long city condo that has a balcony or wall of window on the front and balcony or wall of windows on the back separated by multiple rooms and lots of drywall. Advantage loft as there are less walls and often more air travel. My place has N,W,S exposures and gets amazing cross vent. Because of this we actually use no HVAC for many months of the year.
“Moving every three years”
This is true to a degree but might be an oversimplification. Our building is all the same owners for 5 years. I think that is a trend that is also evident in regular condos across LP, BT, RN, and other green belt areas. It is not indicative of the space but rather of the transient nature of the RE market over the last decade. I suspect that this will not be the case going forward. It is also accelerated due to some lofts being really inexpensive starter condos. Many people move on up from the starter home after a short time.
In conclusion you all know that I am among the biggest loft advocates on CC. They are awesome spaces! Once you live in a well designed loft space it is hard to live anywhere else. I’m sure that I had claustrophobia issues before living in one but it has really increased my phobia of short ceilings and cramped spaces.
BTW The current market suggests that $250 per square foot is a fair price for a west loop loft space in above average condition with better than standard builder finishes.
Thanks for the information about the no mortgage list and lawsuit.
I don’t remember being in this building, but some WL timber lofts have terrible noise dissipation. Noise from adjacent units on the same floors, creaking from hallway floors above and below; I couldn’t imagine putting up with some of these buildings’ issues for the prices paid.
Thanx Funstuffing for your help. its good info to think about 🙂
Bradford thank ya too bro,
“The rooms that we want separate have full walls to the ceiling. The ones we don’t, don’t.”
another reason lofts a cool you can frame a wall anywhere and just run conduit for electrical. no load bearing walls or structural engineers needed:)
and i do recommend ceiling fans for every home its a wonder of previous modern science. and nice tip about zoning the HVAC!
jp3, thank you to cuz! so you made the decision yet to head out NW?
Groove – our place will go back on the market in spring. At that point we will again look at the move NW. What is your move status update?
How far NW do you plan to move?
“What is your move status update?”
one word, UNPLEASANT
HD – We have our plan on Park Ridge for a handful of reasons but mainly due to my mother’s failing health. She lives in Edison Park and we would like to be much closer to her.
Groove – Hang in there. I hope that it whatever issues that you are struggling with will get better soon.
I’ll see you in park ridge in a few years; I just have to figure out the commuting situation. FOr me I’ll take the train; but for the SO it’s an additional 30 minutes each way in rush hour to get to work but that might change too,.
“jp3chicago on December 16th, 2010 at 9:43 am
HD – We have our plan on Park Ridge for a handful of reasons but mainly due to my mother’s failing health. She lives in Edison Park and we would like to be much closer to her. “
“Groove – Hang in there. I hope that it whatever issues that you are struggling with will get better soon.”
i dont remember it being that much of a pain the first time around.
Speaking of PR did you guys catch the Christmas lights at the country club? its a must pass by at night to do list thing. simple, elegant, and awesometacular
Which country club?
“Which country club?”
Park Ridge CC on prospect ave.
Have not seen it this year but I recall seeing it over the last few years. They do a very nice job.
In response to a couple of the prior posts:
To ‘a local’, although I agree that other properties had “construction defects” (meaning created by the developer during original construction or development). However, the current damages that are part of the innumerable lawsuits were NOT “construction defects” but rather the damages that were created and resulted from either the Association’s contractors or the Association’s refusal to perform either the proper general repairs or perform proper maintenance (which resulted in even greater damages).
To neo: Regarding the FHA “Approval Status” of our condo association, in November 2010 the FHA “Withdrew” (Revoked) the FHA / HUD mortgage approval “due to significant pending litigation”.
https://entp.hud.gov/idapp/html/condo1.cfm
In addition, there are there now rumors of a possible criminal fraud investigation by the FHA / HUD regarding the FHA / HUD approval application made in early 2010. Also, according to other neighbors, closings and re-financings have all “blown up” because the building can NOT be approved.
To Tom: Thanks for the link to the “Do Not Lend List”.
I will be updating the 1000Westlofts-Lawsuit site with the new information and PDFs / photos about this as soon as possible.
Brad
Owner Unit 541
1000 West Washington Lofts Condominiums
To Brad: I remember this major issue when we were looking to buy in 2011. I was reminded of it when a friend told me she was in a nightmarish situation with other condo unit owners. The situation is so bad that she has had to use lawyers, but none of them are working out for her. Do you have any great condo lawyers who worked on the personal claims filed against 1000 W. Washington that you could recommend? Thanks and hope by now, things are looking better for the lofts.