We Love Authentic Lofts (with a Terrace): 1322 S. Wabash
There’s something cool about duplex lofts. Maybe it’s the tall ceilings and the second level which gives the unit a sense of space.
This 2-bedroom loft at 1322 S. Wabash in the South Loop is both a duplex AND has a large private terrace.
Here’s the listing:
One of a kind loft! Beautiful 1st and 2nd floor duplex with high end finishes. Very dramatic great room opens to oversized brick enclosed patio, ideal for those big parties. Custom hand crafted built in wine bar, fireplace mantle and a stunning staircase leading to 2nd floor master suite. Beautiful window treatments will remain. Ceiling fans and alight fixtures will transfer with new owner.
Custom closet organizers and recently remodeled master bath. New granite counter tops in the kitchen and in master bath. The private 2nd bedroom is on the main level with ½ bath, ideal for guests or home office. Amazing ceiling height. You will appreciate the fresh color palette.
Heated garage is available for an additional $10,000. Feels like a townhome. This is a mint move in condition home. Close to all the South Loop has to offer. Parks, CTA, expressways, shops, restaurants and more! FHA approved building. High owner occupancy.
Eve Kronen at Coldwell Banker has the listing. See more pictures and a virtual tour here.
Unit #C: 2 bedrooms, 1.5 baths, duplex, terrace
- Sold in April 2001 for $292,500
- Sold in September 2004 for $382,500
- Currently listed for $429,000 (parking is $10k extra)
- Assessments of $397 a month
- Taxes of $4,254
- Central air
Great space, but overpriced. Seller will be lucky to get what they bought it for. I would love to take it off their hands for $250K cash though.
Yeah, I love spaces like that.
Great space, and that terrace is really nice. Are the only two bathrooms in the bedrooms though? If so, thats not so nice for those big parties they boast you can have on that terrace. And if not that means theres no bathroom upstairs in the master because you can clearly see one in the 2nd.
I guess I would consider the room with the bathroom the master.
I’m not a huge fan of timber lofts, but two awesome features about this unit: I love the front, its a sort of well preserved classical roman columns you don’t see too often here & also the terrace!
I say 400k with the parking isn’t too far fetched.
i may be way off base, but $10k for a parking space? in printer’s row? heated or not, that is exorbitant!
“Beautiful window treatments will remain. Ceiling fans and alight fixtures will transfer with new owner.”
What does that mean? The words say that the fans and lights will belong to the new owner, but by making it a separate sentnce, it implies that they will *not* remain like the window treatments.
“The private 2nd bedroom is on the main level with ½ bath”
So, there’s a 1/2 bath (hopefully, 3/4, otherwise not too guest friendly) on the main floor and a full bath upstairs with the bedroom. Not to hard to discern.
What do the assessments of $397/month include? What about the heat??
Fantastic place.
What a stupid place to your tv… the couch is facing the staircase!!! Beautiful unit otherwise..
More than likely, that $397 does NOT include heat, which means shelling out anywhere between 200-350 a month in the winter. Still a lovely space though, and the fact that the developers left many of the original features on the exterior is a nice touch.
Assessment does not include heat or air. It includes the following:
Basic Cable – RCN
Parking Garage Assessment
Maintenance
Scavenger (Trash)
Water
Management Fees
Snow Removal
Common Insurance
“the fact that the developers left many of the original features on the exterior is a nice touch.”
Unintended hilarity is sometimes the best. This was one of the first S Loop loft conversions and the developer (Wolverine Dev aka Keith Giles prior to “Frankel & Giles”) did leave some “original features on the exterior.” Of course, the new owners had to pay a large special assessment to fix them, but that didn’t deter Giles from claiming it a success and going on to S Loop riches.
It would warm my heart (not an easy thing, mind you) if the downturn brought this greedy developer (redundant, I know) down a notch or four.
This place reminds me of the first rule on parking. Never buy a pkg space that you haven’t parked your car in at least once when the lot/garage/street/alley is near full.
G you are spot on. Frankel & Giles skipped out of repairing the
building after turnover. The association had to address a special assessment to correct many things Frankel & Giles would not fix. Issues included facade, structural issues in basement, emergency lighting (how could they get an occupancy permit without?), etc.
Wolverine/Giles also saddled the association with a rediculous easment that cost the association over $80,000 in legal fees to correct.
The amazing part is that Giles was given $2MM+ TIF money (according to NSCGB website) up front and still saddled the association with a special assessment. How do developers get away with this? And he is trying to develop Prairie District lofts…good luck with the special assessment there. It makes one wonder if he had a plant on the Filmworks board. Also, turns out that there was a condo board member who is also on the Greater South Loop Association, and is real chummy with Frankel & Giles. F&G made some donations, while also providing some financing the GSLA’s founders aldermadic campaign in the 3rd ward.
so would you consider this place for around $400k with say two spaces included? maybe $410 with two spaces included?
Would have to figure out a way to make that 2nd bath a full bath though.
As I noted before, all parking spaces have to be checked out carefully in this property.
Another problem with this unit is the parking security gate going up and down just off your terrace. The entrance is between the terrace and the Filmworks II bldg seen on the left of the terrace pic. The lot entrance/exit makes a hard turn under the terrace as well, so hopefully your neighbors do not have squeaky brakes and low power steering fluid. The tight fit of the entrance means the gate must rise up, so it might be seen as well as heard. I don’t know how many times a day it opens/closes, but there are probably 100+ garage/pkg spaces using this lone entrance.