We Love Authentic Lofts: Open Space in the West Loop: 1000 W. Washington
Most people describe an authentic loft as one having wide-open space, high ceilings and some industrial features like brick, timber, or exposed concrete.
This massive 1-bedroom duplex loft at 1000 W. Washington in the West Loop certainly qualifies under the definition.
At 1400-square feet, it is large enough to truly entertain as they do in Hollywood movies.
It not only has a duplex up but the living room is elevated which gives the appearance of separation of some of the spaces.
Matt Garrison at Coldwell Banker has the listing. See more pictures here.
Unit #144: 1 bedroom, 1.5 baths, 1400 square feet
- Sold in July 1996 for $195,000
- Sold in April 2000 for $240,000
- Sold in May 2005 for $291,500
- Originally listed in January 2009 for $309,900
- Reduced several times
- Currently listed at $294,900 (plus $25k for parking)
- Assessments of $503 a month (includes water, cable, parking)
- Taxes of $3510
- Listing says seller will “pay half of first years assessments”
- Central Air
- Washer/Dryer in the unit
250-275k should get it done…. unless that $500 assessment doesn’t include heat. Then we might have a problem. That is one huge area to heat. I like the amount of air space, as long as heat is included in that $500/mo.
Saw this unit. Nice space but small closet area off master and no balcony. The area under the living room is a practical storage space.
Me likey alot! and seller will cover half first years assesments! yeah whats with that $500 ass?
did i say me likey alot.
“I like the amount of air space, as long as heat is included in that $500/mo.”
Unlikely, since it’s gas forced air. These are generally individual units.
270k tops (WITH parking) is my guess.
Seems like it’s a first floor unit – not exactly the ideal loft. To me, a loft is some raw space on the top floor (ideally anyways). The bathroom doesn’t match the space at all and I’d go nuts with no outdoor space. And $25K for parking – eh. It’s all yours Groove77. I will say that the elevation is a nice touch.
Including the parking, they’re expecting 10% over 2005, and 33% over 2000 — what are they smoking? Also, “several” reductions, but only a total of $15k?? If the original list price included parking, they actually raised the price $10k. I agree with the $270k w/parking estimate — it’ll probably sit for a long time before they come to terms with that though.
Mmmm, ground floor place on Washington. That should be lovely when the CTA buses go by….
This one will sell. I think it will be fairly close to ask. Assessments are high though and the seller knows it from offering the six months paid. Nevertheless, it is a true loft and unique space. Much better than some of the garbage soft lofts that have overun the city.
i am assuming here, but outdoor space for a young single person isnt that much of a necessity. When i was young and single i rarely was at my place, and when i threw parties i let people smoke inside.
i wonder what it cost to heat/cool this place?
“i am assuming here, but outdoor space for a young single person isnt that much of a necessity. ”
Young single people have varied tastes just like any other demographic. I am (relatively) young and single and I value outdoor space. The only two condos I’ve seriously considered over the past year have both had a bit of outdoor space. I need a place to relax outside, grill, sleep in hammock and walk around. Balconies won’t cut it for me.
I like these. Nice location, duplex-like layout, reasonable price.
What is the deal with this building? Seems like every unit is for sale? Anyone know what is going on?
litigation, code violations and upcoming special for balcony repair have put off most buyers and/or lenders over the last year or so. some cool units in the building.
I second Bob on the outdoor space. Giving up my grill for my place in RN was *almost* a deal breaker and certainly would be if I were buying. although I am young and single in the sense that I haven’t proposed to my live-in girlfriend yet… Plus my GF would strangle me if my friends smoked [cigs] in our place
i did miss out on the grilling, and if i wanted to relax i would take a blanket walk to the park and just chill. i guess i was never home enough to think of it.
I value outdoor space now too (since the wife and kid). try and take away my grill and lawn chair now and I WILL CUT YA!
“i am assuming here, but outdoor space for a young single person isnt that much of a necessity.”
I would just reword this to read:
“I am assuming here, but outdoor space in a city that hasn’t even broken 70 degree average this July (The Red Eye printed on page 7 today it has averaged 68.9 degrees so far, blah) isn’t that much of a necessity”
Of course, I kid. I personally enjoy outdoor spaces as well. I guess it’s just a matter of preference. The right person for this place won’t mind.
art is right, interesting building (have looked at some larger units in there) with some very cool spaces but also a building with lots of problem. Balconies are fine for me, all I need is a place for a grill.
But this building has a very troublesome history of litigation, code violations, and all sorts of whispers about special assessments coming.
For a little bit of info you can check out the first hit if you google “1000 west lofts mold”
You can go outside when its below 50 degrees ya know 8)
Here it is:
http://1000westlofts-lawsuit.com/
the links don’t work on his site but just reading through the site’s main page would stop any purchaser in his tracks
For all the agents here, is there an attached disclosure to this listing? Anything mentioned about the lawsuit, violations, or special assmt.?
At first look, the unit is beautiful, unique, and will definitely appeal to people looking for a true loft. The pricing actually seems reasonable and under normal circumstances, I could see this place selling for around 285k with parking.
Unfortunately, that website that kp linked will kill any potential future sales in this building. I’d be willing to bet the author of that site gets plenty of hatemail from his neighbors.
Looks like there are larger issues than not having any outdoor space… I’m still not crazy about it, not a huge fan of the west loop – or mold for that matter. I can only imagine how much fun the condo association meetings are at this place – for that reason alone, shave another $50K off…
So in light of what we’ve seen, who buys this place? I’m not horribly risk-averse, but when I see things like this I think run don’t walk.
“So in light of what we’ve seen, who buys this place?”
Someone who loves lofts who didn’t do their homework.
“Someone who loves lofts who didn’t do their homework.”
In other words, a fool. What sort of an obligation does a buyer’s realtor have to uncover this sort of problem? I’m not familiar. I do know that if I had an agent, I’d expect them to keep me far far from a place like this.
“In other words, a fool. What sort of an obligation does a buyer’s realtor have to uncover this sort of problem? I’m not familiar.”
I’m guessing very little if the agent even know about problems themselves. Think about it–without that link how would the agent even know? They are brokers selling real estate not database and legal scholars able to uncover all pending lawsuits, etc about a place.
Its an agents job to show properties but the old adage: caveat emptor definitely applies. Remember its not the agent’s financial and residence future that is at stake in buying a place they’re just there to do a deal.
I’m not sure what kind of agents you guys have been using, but the one I used went through the minutes of the condo association meetings.
If you want full service call Steven Heitman. But he won’t work for a penny less than 6%.
“Its an agents job to show properties but the old adage: caveat emptor definitely applies. Remember its not the agent’s financial and residence future that is at stake in buying a place they’re just there to do a deal.”
Like I said, I am not all that familiar with this area. However, your answer supports my inclination to buy without an agent. I can show myself a place and I can broker a deal so I’ll save the expense and do it on my own.
No you can’t do it yourself: the brokers have the key to the lockbox.
I know I can’t walk right in, but I can make arrangements with the seller’s agent. That’s what I meant.
I meant to say that the realtors have a monopoly on showing properties.
Any decent real estate attorney would be able to find out in 2 seconds about the litigation. The seller is required to provide a 22.1 disclosure that discloses, among other things, lawsuits affecting the association. Any agent worth a salt would have the information ahead of time, so as to prepare their client and/or be able to answer questions from a savvy buyer.
And, by the way, just read the site, it was copywrited 2007, none of the links work, and it references meetings from 2006. So, I’d imagine that, by now in mid 2009, that the issues were resolved.
https://w3.courtlink.lexisnexis.com/cookcounty/Finddock.asp?DocketKey=CAAH0L0AAIGFD0LD
It’s in mediation.
The critical exam/tuck pointing and new roof was completed over the last few years and the building still has almost one million in reserves. Also, the assessments include heat/ac, cable and water.
What’s next, getting sued for Twittering about building management? Oh, wait…
“Like I said, I am not all that familiar with this area. However, your answer supports my inclination to buy without an agent. I can show myself a place and I can broker a deal so I’ll save the expense and do it on my own.
Many can do it themselves but only if they 100% understand what they are gtting into. The outcome of being uninformed is highlighted daily on this site. Buying a place successully takes a lot of experience and intelligence.
Maybe you have it and maybe you don’t
“I’m guessing very little if the agent even know about problems themselves. Think about it–without that link how would the agent even know? They are brokers selling real estate not database and legal scholars able to uncover all pending lawsuits, etc about a place.”
Wow are you dumb! Shouldn’t there be a test before you are given a right to post 🙂
jon said “Like I said, I am not all that familiar with this area. However, your answer supports my inclination to buy without an agent. I can show myself a place and I can broker a deal so I’ll save the expense and do it on my own.”
it’s relatively easy to buy without a buyer’s agent but i’m not sure what ‘expense’ you’re saving. normally the seller’s agent just keeps the buyer’s agent’s share of the commission for themselves rather than offering a credit/discount to either party. the buyer won’t know the seller’s agent’s total commission payment until they’re at the closing table.
The first and only time I ever used a real estate agent, they accidentally showed me the developer’s own property, which was not for sale. I bought the property next door built by the developer.
Since then, I’ve sold that property without a real estate agent. And I’ve purchased two others without a real estate agent.
What are the chances any real estate attorney understands 100% (if I may use the same criteria Steve just suggested for individuals)?
You don’t need to understand it yourself 100%. You need to educate yourself on the risks and check out some of the For Sale By Owner companies. In the end, there are many state and federal laws that govern the transaction.
Under Contract!
The link that KP provides is written by the plaintiff in this case. The individual no longer lives in the building and the individual is of suspect mental competence. He is a trust fund baby whose grandfather bought the unit for him. The suit is about to be thrown out by the judge.There is no evidence of any mold in any part of the building.
The assessments do not include heat or a/c for the individual units. The building has a four year old roof with a twenty five year warranty. The balcony repair referred in a prior post will not be a special assessment. The balconies are a limited common element and the cost of the repair will be born by the individual unit owners. In addition the building was recently tuck-pointed and paid for via special assessment. There are NO SPECIAL ASSESSMENTS anticipated. The most costly elements of any building repair are the roof and the masonry and both have been done.There are approximately 15 units for the sale in the building which is less than 10% of the total number of units (180 units total)
I live in the building and my unit is 1700 square feet. The average utility cost for both electric and gas is about $150 for both. The assessments due include water, garbage, cable and contribution to the reserves.
To Matt the Coffeman
Your comment is erroneous
There are no residential units on the first floor of the Washington side of this building, only commercial space.
The CTA has the 20x bus which runs morning rush hours (6:30-9:30) and weekdays only.
To Mark L – It is clear that you either have absolutely no factual knowledge or basis regarding the numerous issues / lawsuits / code violations / etc. at 1000 W. Lofts.
Nonetheless, to clarify a few of your so-called “facts”:
Although I am ONE plaintiff that has a suit against the Association (and others) there are also several other owners currently suing the Association (not including a consortium of over 30 other owners who are preparing a class action suit as we speak) who are also all “plaintiffs” themselves.
The City of Chicago is also suing the Association (and all owners individually including YOU if you actually live in the building) in Circuit Court which makes the City of Chicago a “plaintiff” as well. The City’s lawsuit against the Association (and us) is to compel the Association to address and repair the extensive / innumerable building code violations that have been issued against the Association beginning in 2006. Per the City’s Lawsuit, the current “fines” that the City is requesting total over $1.5 MILLION and increasing by $4,000 PER DAY!
Your claim “the suit is about to be thrown out by the judge” couldn’t be farther from the truth but, as my grandfather taught me, “you can’t teach stupid”. I would recommend that you come to one of the hearings yourself and speak with the City Prosecutors, Building Inspectors, or one of the 12 other law firms involved in the various suits because EVERY “motion to dismiss” that has been made over the last 3 years were DENIED.
Your statement “There is no evidence of any mold in any part of the building” is not only completely false but, I find, ironic as the “evidence of the mold” that you claim does not exist was in actuality discovered and verified by the Association’s own contractors, structural engineering firm (Klein & Hoffman) as well as TWO different environmental testing firms that the Association itself hired. You can verify each one of these reports yourself by simply asking for it from the Linda (the Association paid for it via general funds so all of those reports are accessible for any owner’s review).
Your claim that there are “no special assessments anticipated” further demonstrates the depth or your lack of knowledge. As you are supposedly an “owner” in the building, I doubt you ever looked at the financials yourself as it is VERY interesting reading. I believe that anyone who can understand simple math will come to the same conclusion that the Association will have no choice but to issue yet another Special Assessment to pay for all the damages, code violations, repairs, fees, etc. To give you an idea, as of last week, it looks like the legal fees paid to date appear to have surpassed $2 MILLION for all those involved and that does not include the cost for the other damages / repairs / violations which are much higher than that. And, one final interesting fact you forgot to mention (or don’t know) or take into account is the outstanding balance on the Association’s “Special Assessment” mortgage.
I can assume that you are not a “balcony owner” or else you would have already known that a “special assessment” has already been levied against the balcony owners themselves (albeit improperly) totalling over $500,000 and that an additional $500,000+ is supposedly being spent by the Association to repair the common elements in that area of the building (and to address one of the major building code violations). Also, these same balcony / common element repairs were included as part of the 2000/2001 Special Assessment.
Even the number of units (and percentage) you claim are “for sale” are under estimated.
One final thing, the fact that you refer to me as a “trust fund baby” with “suspect mental competence” further demonstrates your utter lack of knowledge of the facts (or who I am).
I would recommend that the next time you claim to know something (or think of slandering me again) you might want to think about what my grandfather used to say as well as not hide behind some anonomous screen name.
Brad Wells
Owner
1000 W. Washington #541
Mark L –
I forgot to clarify one more of your so-called “facts”.
The reason that I no longer live in the building (as well as couple of the other plaintiffs) is because our units are 100% uninhabitable!
As I know you have never been in my unit, you, of course, have no idea that there are no cabinets, sinks, floors, carpet, etc in the unit as all had to be removed so that the Association could have access to the common elements so the Association could make the repairs to their property.
You are also completely unaware of the gaping holes in the walls (made by the Association), on-going water leaks, rot, mold, asbestos contamination and numerous other damages within and around my unit itself that prevent any occupancy within the unit.
As these damages / code violations are to Common Elements ONLY the Association is allowed, by law, to make the repairs.
Furthermore, none of us can get building permits to make the repairs to our personal / limited common elements so we can move back in UNTIL AFTER, by law again, all the code violations to the Common Elements are repaired by the Association.
However, the fact that the Association has refused to make the repairs and, in essence, constructively evicted me and others from our units does not alleviate our responsibility to pay the monthly assessments. As my unit has been uninhabitable for over 3 years now that means I have paid over $30,000 in Assessments to NOT live in my own home. This, of course, does not include the over $160,000 in lease, furniture and moving expenses alone that I have since incurred while waiting to move back into my own home.
Others have had to pay much more for the “priviledge” of being owners in 1000 W. Washington as they have been unable to live in their homes going on almost 5 years.
Nonetheless, the depth and totality of your ignorance reminded me that I need to contact my PR firm to finish the website (which I didn’t know was even “live” as was only the outline) so that the facts can be easily verified by any who truly want to understand.
Brad Wells
Owner
1000 W. Washington #541
Dayum!