We Love Authentic Lofts: Two Story NY-Style Loft in 711 S. Dearborn
We’ve chattered about The Donohue Building, at 711 S. Dearborn, numerous times. It was the first loft conversion in Printers Row and the units continue to be unique.
This 2-bedroom brick and timber 2-story loft has all the authentic loft features, including massive open space.
The listing also says it was designed by famed Oprah designer Nate Berkus.
Check out the unique mahogany spiral staircase. The listing also says it has mahogany doors throughout.
Andy Shiparski at @Properties has the listing. See all of the pictures here.
Unit #503: 2 bedrooms, 2 baths, 2600 square feet, duplex
- Sold in October 1988 for $315,000
- Sold in October 1999 for $410,000
- Currently listed for $749,900
- Assessments of $1,181 a month
- Taxes of $5846
- Central Air
- Washer/Dryer in the unit
- Deeded parking is available off-site
I love how they throw Nate Berkus’s name into the listing….Overall the space is good, but I think it feels very dark. I do like the bath remodel and the staircase–very unique. Almost 1200/month in assessments though? never.
I don’t really know what NY Style means, but I think it has a cool look and seems pretty well done (except for that white fridge in the kitchen, yuck!).
It reminds a lot of that very well done loft in River North that was on the market forever, although it might have sold since I don’t see it on Redfin anymore. Anybody remember that one? Super nice on the inside but no parking. I think it was on Illinois?
Oh man, just saw those those assessments, yikes! What in the world is going on there?
All those renovations, and they kept the decade-old, white refigerator, which can be seen from the whole living room? Really?
kp, are you referring to the loft at 215 W. Illinois (Anchor Lofts)? I don’t see it on redfin either.
Assessment Includes
• Heat
• Common Insurance
• TV/Cable
• Exercise Facilities
• Exterior Maintenance
• Scavenger
• Snow Removal
Not too rediculous for a 2600sqft place, I guess. Hell heat alone in the winter time is probably $600 a month. TV/cable is another $75, and then you pay for the crappy gym here, and insurance on a big old building… yeah they are still a rip off but not insane like some of the co-op assessments you see.
There are four other units available in this building and other than the spiral staircase, they all look the same. Ranging in price from $220k to this one at $899k.
I guess it was a nice try throwing Oprah/Nate Berkus’ name in but I was so disappointed when I didn’t see contrasting throw pillows and black framed pictures grouped together. Oh well…..
Sonies, even with heat, these are way high. Plus, the cable TV is moot. If you spend this kind of money, I’m sure you’ll have or at least want an HD TV and “association cable” doesn’t include that.
Yeah they must be trying to build a large reserve for when the stones start falling off the facade and killing a few innocent bystanders.
“you’ll have or at least want an HD TV”
If they only had lotsa bookcases like 758 Larrabee, they could hope to find a serious reader who doesn’t care about fancy TV.
Why is everybody so miserable on this site?
Well Dan today I am miserable (but not really) because a REO property I dreamed about staying on the market for a few years went under contract. But it did set new comps for the neighborhood at 20+% discount to other ones and hopefully will set the comps on the way down.
But I will rebound quick. I know of a bar with $1 drafts tonight and an 80s cover band and last week there were some hot girls there. $1 drafts, 80s cover band and cute girls? Thats a win-draw-win in my opinion.
Dan, this site is geared toward the outrageousness that was the real estate bubble and its collapse. Most everyone here gets a good laugh out of what idiots think they’re property is “entitled” to because its “special”.
With that said, you want to see what in the South Loop for how much? South Loop = Fucked for the next 10 years.
see=sell
I love this building, except for the lack of sound insulation. Conversation at normal volume levels can be heard in adjacent units in every direction.
I should rent here and watch p0rno at normal volume levels then. Its not like they can call the cops for noise disturbance if its able to be heard at normal conversation levels. That’ll really teach these FBs.
I like this place quite a bit, but not sure what they were thinking with that bathroom, and the assessments…dear God…
Poor soundproofing in a condo building would be the kiss of death for me and many other potential buyers. If normal conversation carries through adjoining walls, nothing else matters, I won’t buy it.
In the suburbs, they say good fences make good neighbors. In a condo building, it could be said that good soundproofing makes good neighbors.
Considering the age and complexity of the facade, I think the maintenance is reasonably priced; the alternative is neglecting the facade, allowing it to crumble and being sued (if someone where injured) and cited by the city (i.e. fines and lots of work on the differed maintenance) as well as a five or six figure special. I think people on this blog don’t really understand the costs of maintaining a building – even a new one requires it and it’s not cheap.
lmfao, Bob
a~ “South Loop = Fucked for the next 10 years.”
Maybe if we dont get the olympics. If you bet that we do though, the north siders are the ones who will miss out. The south loop will be the place to be. Especially since past large cities with the olympics have rented for +/- $1000/NIGHT!. A nice place like this could easily rent for $100k/mo (just enought to cover your assesments! jk)
Keep in mind the city is moving south and west….
“Almost 1200/month in assessments though? never.”
As in…”never could afford it?”
I have multiple 1br’s (lofts and condos) with assessments around $300. This place is 2-3 larger and 2-3 times the assessment. It’s totally in line.
“Why is everybody so miserable on this site?”
Because it’s easier to be miserable than to earn $100k.
“Maybe if we dont get the olympics. If you bet that we do though, the north siders are the ones who will miss out. The south loop will be the place to be. Especially since past large cities with the olympics have rented for +/- $1000/NIGHT!. A nice place like this could easily rent for $100k/mo (just enought to cover your assesments! jk)
Keep in mind the city is moving south and west….”
The olympics might give you a year boost to home value during the olympics, then short after there will be a large over supply of homes built on the south side as well as empty hotel rooms.
*if* the Olympics come to Chicago…
isn’t speculation what got us here in the first place?!?!?
MADFLY, I’m impressed with your level of analysis and insightful conclusions. I can now see how your bubbly condo purchases will make you the next Trump.
Do you know where I can still get some of these condos? They must be scarce since they guarantee riches and are a clear sign of success.
“Keep in mind the city is moving south and west….”
Yes and a quick drive down Ashland (border of the city’s boom neighborhood ) will yield a few nicely done architectural rehabs and more nicely done buildings that appear to be abandoned and covered with the requisite graffiti. Progress indeed. OOPPPSS a sign we are all ‘miserable’!!
RE: The slight chance Chicago will be chosen as the Olympic city YEARS from now. Of course there will be a housing boom for a few years, many unqualified people will sink their 401ks into buying and poorly renovating boarded up crack dens that will be used for a month then abandoned shortly thereafter or worse yet, will be turned into HUD/section 8 housing for years to come. In the meantime, the folks in Northern Chicago will see their home values take a nosedive due to over saturation of unneeded housing.
I spoke with an overly excited Realtor a few weeks ago who had just closed on 3 units on S. 78th St who was going to pour three years of money and time into a self rehab for that one month $10k rental.
Just as in Atlanta, sure the area will be ‘passable’ for a very short time, but then what? Will you be able to command West Loop’s current $1500-$2500/mo rent (after all it is ‘booming’ now) to recoup your rehab money? Unlikely.
Wait…I feel a spell of misery coming on now…let me go back to that glass catwalk thread….
kp “I don’t really know what NY Style means”
Large, undivided space with tons of exposed, rough brick and rough hewn timber roofs usually with a few areas elevated so you can see your SO on the toilet from your raised computer nook.
They are SO 80’s!
A quick glance at Curbed NYC’s featured residential units will show this ‘fantastic’ trend disappearing faster than Trump’s few remaining strands of hair.
nice unit but I have a hard time believing Nate Berkus wanted that white fridge. It would have added that extra touch to the kitchen. This unit isn’t staged very well IMO. They should proudly show off the giant living area with a few wine glasses/plates to show how many dinner parties can be held in a place like this.
“Do you know where I can still get some of these condos? They must be scarce since they guarantee riches and are a clear sign of success.”
I’ve never made any claims of guaranteed riches. But if you do some due diligence in buying, at least you have a good chance of earning money, passively for the future. I’m willing to take more risk taking than others to earn greater rewards. I’ve never worried about money (getting it or losing it).
G- what happened to your past investments? Do you still have them? Just curious. Also, apologies for the “crack your cranium” comment I made a couple weeks ago… I was annoyed that day for some reason.
IF the Olympics do come here, it will provide only a slight “boom” in the housing market. Followed by many empty and therefore, decaying units in it’s wake. I was speaking with a realtor a few days ago and he was beaming that he had purchased three units in a building on, get this, S. 75th St., for what he claimed was a ‘steal’. No mention was made of the fact he will have to pour at the bare minimum of $100k in them to make them ready for their glorious one month use.
After that? A nicely renovated place for crack heads to luxuriate in his money making three condos. Come on people, don’t pick up delapidated units with the ‘dream’ (read nightmare) of renting them to Olympic visitors. I remember all too well the gentrification of a few Atlanta neighborhoods only to have them turn into HUD/Section 8 housing months after the last Olympians pulled out and only added to newly redesigned ghetto ‘hoods.
westloopelo,
First – The Olympic host city will be decided in October of this year.
Second – Chicago has a 25% chance.
Third – Atlanta re-used student housing for the Olympic Village Housing, new housing infrastructure was minimal/ non-existent. This had a significant impact on the revitalization of the neighborhood (IE, none).
Fourth – You nailed NYC style…”a few areas elevated so you can see your SO on the toilet from your raised computer nook.”
“As in…”never could afford it?”
I have multiple 1br’s (lofts and condos) with assessments around $300. This place is 2-3 larger and 2-3 times the assessment. It’s totally in line”
This, although true, is not the route I would go. I would rather have a single family home, than than this dark loft w/ an assessment that could pay for almost a 1/3 of my mortgage. If you have a 1 bedroom and are paying $300 or more, that’s your choice. I however have a 2 BR duplex and pay under $200/month.
“Second – Chicago has a 25% chance.”
Chicago has at least a 30% chance. Madrid is DOA, as the IOC doesn’t like giving the summer games to the same continent* twice in a row. I think Tokyo is just behind Chicago and Rio** is the clear frontrunner, barring major political/economic/criminal turmoil in Rio between now and October.
*Yes, London is not Continental, but it’s still in Europe, to the chagrin of the English.
**Hi Ze.
Madfly, I make over 100k a year, and I would NEVER buy a place with $1200/mo assessments. Hell, I would not even buy a 1BR with $300 assessments. I’d rather raise my purchase price and get lower assessments. Assessments are not tax deductions.
Anon… now where would you rather party during the Olympics???
Chicago makes sense but I have a feeling it comes down here. Never been in South America.
“Chicago makes sense but I have a feeling it comes down here. Never been in South America.”
Yep. Barring a major negative change in Rio, that’s what I think, too. And it’s still timezone friendly for most of the US.
What’s the weather like in August?
jc- I wasn’t trying to make an argument about the appropriateness of $1200 in assessments with a $100K salary. I was making a joke about the general misery on this board by referencing our past discussions about how hard it was to make $100k+.
The world is entering the Second Great Depression and you wonderiwhy there is misery?
MADFLY,
Its quite a stretch to reference an old thread on salary levels to the general level of misery observation made earlier on this thread.
As someone near the six-figure threshold and working alongside many presumably beyond that, I can say that it isn’t some sacred threshold that bestows happiness and all of life’s financial problems go away and its all peachy.
This is 2009 not 1989 Madfly “six figures” is some sacred elite threshold. The fact that you repeatedly reference 100k shows you might be stuck in 1989, too.
err isn’t some sacred elite threshold.
Btw.. HD .. things are surprisingly good down here economically speaking. I personally think they are in many places and the world just needs to eat their credit loses and diversify better next time (thus my average U.S. citizen being completely screwed theory)
Weather in August (winter) mostly 70’s with a few 60’s and possible 90’s. Never below 60’s. The world would love this place. It really is that nice and the changes are amazing. Huge effort to clean up to get the Olympics also. And boy can they throw a party!
“Weather in August (winter) mostly 70’s with a few 60’s and possible 90’s. Never below 60’s.”
That’s another big, big plus. Perfect weather for everybody but sprinters. “Never below 60s” applies to late evening (time of T&F finals), too?
As much as I love Chicago as my new home, I really don’t think this great city will be chosen. Just think of the committee touring the area that will be used…South Chicago is not exactly the best area of the city right?
25 or 30% guarantees nothing. I am just thinking of the economic impact on a very depressed housing market where sellers are still attempting to cash in on a market that is dropping steadily. The minute it is announced that the games are coming, the prices will go through the roof with no buyers able to buy or even get mortgages. Do we really want all those foreign investors snapping up properties and massive amounts of land gone forever from our hands?
As much as I want to see the good that just MIGHT come with having the games here, I wonder if Chicago can handle it??
Now no offense at all meant here, just observations of a very experienced traveler, both in the US and foreign travel…and please don’t post offensive comments as I say all this as an opinion and nothing more.
MADFLY:
“jc- I wasn’t trying to make an argument about the appropriateness of $1200 in assessments with a $100K salary. I was making a joke about the general misery on this board by referencing our past discussions about how hard it was to make $100k+.”
How can you make it in this city without making AT LEAST $100k? I thought it was the starting point for all professionals?
Below 60 is incredibly rare… Walk my dogs at night and barely ever saw below 60. Many winter days high 70’s to 80’s. Think of Havana temperature. Exact same just opposite hemisphere. I definitely go to the beach many days over the winter. And yes those lovely little bathing suits are out then also.
Patrick Bateman…Re: your third eloquent statement…
You have to consider the nation’s financial standing when the games were in Atlanta…it was an entirely different picture then. An drowned housing market in a city where 40% occupancy in many new developments is not a strong market to start.
“And yes those lovely little bathing suits are out then also.”
The athletes were (supposedly) provided 100,000 condoms in Beijing. Do you think 1,000,000 would be enough in Rio?
Westloop.. as an experienced traveler you really think foreigners care about Chicago? Love the city but I never got that feel. When i move around people don’t bat an eyelash if I say “from Chicago” although “from NY” always does. I never think Chicago will be a true global city either.
“The athletes were (supposedly) provided 100,000 condoms in Beijing. Do you think 1,000,000 would be enough in Rio?”
You mean just for the opening ceremonies???
even in the shanty towns?
“things are surprisingly good down here economically speaking.”
HD… Actually yes. Big push into cleaning them up. Dona Marta near me just became the first slum in the world that has been provided free wifi. Thing is they had 3,000% inflation here and the banks are brutal to get anything done. I paid all cash for my place and am still trying to close papers, just last week i had to go resign because they didnt like how my signature matched.
“I can say that it isn’t some sacred threshold that bestows happiness and all of life’s financial problems go away and its all peachy.”
Quoted for truth.
“The fact that you repeatedly reference 100k shows you might be stuck in 1989, too.”
ME? Today is the first time I’ve referenced $100K, as a joke. I’ve argued that $100K was NOT all that impressive. I have taken paycuts to get to $100K AND I’m about to give up a $100K+ salary and relocate/pursue other endeavors (will you guys miss me when I’m gone?).
It’s others on this board who said it was “difficult” or “not easy” to attain that salary level. Check the past threads.
BTW- in 1989 I was starting high school. In 2009, I’m retiring.
“In 2009, I’m retiring.”
Moving in next door to John in Miami, Madfly? $500/month for a $8mm condo?
j/k
Ze:
“When i move around people don’t bat an eyelash if I say “from Chicago” although “from NY” always does.”
As a dual city resident, I totally agree with you! That Oly committee has it’s work cut out for them.
Oh god not this again.
“BTW- in 1989 I was starting high school. In 2009, I’m retiring.”
See HD.. Yesterday even Price Charles and Camila enjoyed a good trip to the slums here. The world could be about to end but as long as you throw on some music no one here seems to care.
http://oglobo.globo.com/fotos/2009/03/12/12_MHG_charles_mulata.jpg
“The world could be about to end but as long as you throw on some music no one here seems to care. ”
Music & a plethora of scantly clad ladies with nice booties surely lifts spirits.
Intrade has Chicago as the favorite at 35-40% and Rio at 25-30% – rio’s budget is 2-3 times the next closest city and crime continues to rise there… Don’t get me wrong, I’m hoping Rio wins.
Chicago is a lot cleaner than NY, and Rio is disgusting.
Anyone know if this place sold?
Still listed and reduced to $699,900
Thanks David.
What did this place end up selling for?