West Loop Penthouse Loft Still Available 16 Months Later: 333 S. Des Plaines
We last chattered about this authentic brick penthouse loft at 333 S. Des Plaines in the West Loop 16 months ago- in February of 2008.
At that time, it was priced so that the sellers would receive quite a bit of appreciation since the purchase in September 2004.
See our prior chatter and pictures here.
Since then, it has been reduced $81,000.
The loft is on the top floor of the building and the listing says it has roof rights.
It has three full-sized bedrooms, lots of exposed brick and a true living/dining entertainment area. It also has 14 foot ceilings.
Is this loft finally priced to sell?
Martin Winefield at @Properties now has the listing. See the pictures here.
Unit #707: 3 bedrooms, 2 baths, 1900 square feet
- Sold in July 2005 for $500,000
- Was listed in February 2008 for $625,000 plus $25,000 for parking
- Reduced
- Currently listed for $539,000 plus $30,000 for parking
- Assessments of $471 a month
- Taxes of $5866
- Bedroom #1: 20×14
- Bedroom #2: 15×10
- Bedroom #3: 12×10
Whats it going to take this maroon to realize they aren’t even recouping their 2005 price on this one?
Case-Shiller is back to 2002 levels and this FB is still holding onto hope for some white knight. Hahaha keep dreamin’ FB, keep dreamin’.
Ahh for some real gems check out all of City Agent’s comments on the prior thread. Curiously enough City Agent doesn’t come around much anymore.
Maybe the commissions checks weren’t covering the mortgage and they decided to trade their electronic pom-poms in for some real ones and are now with the Bulls?
“Case-Shiller is back to 2002 levels”
Not for Chicago condos.
Yet.
http://business.theatlantic.com/homesalestrend.png
Still down YOY.
“Still down YOY.”
But the elevator told me that May sales of existing homes was up 2.9%. Damn captivate.
What’s with the giant black Y on top of the kitchen cabinets? Did the stager run out of ideas as to where to put a giant Y?
Howabout that weird Orange Crush addition? Guess this REM fan will be singin’ the blues.
If eclectic staging hasn’t helped sell your place yet, maybe time to go more conventional…duh.
I really feel that the demographic that buys this kind of unit is shrinking and people have humbled themselves – they are putting their money into practical traditional products, not lofts. the gig is up: http://union03g.wordpress.com/2009/05/09/why-you-are-in-love-with-chicago-lofts-and-you-will-never-buy-one/
what is an FB
FB: fu@ked buyer, fu@ked borrower
this guy must be on crack…oh and 30k for parking…I say lower it another 80k and throw in parking and you’ll get some buyers
This is not a good unit. Views are bad and so is the location. Can get a much better place for the same money in LP, LV, UV, WP or BT.
I live near here and can say i dont like the building much. It’s next to the fire station too which is loud enough a few blocks down the way. atleast they discounted it abit. i was looking to buy at 210 s. desplaines (the edge) b4 i ended up with RD659 and kept an eye on a few 2 br’s and the prices never moved. one of the units was 1511 which is owned by the developer, it’s beeen listed as sold a few times then placed back on the market…for always the same price. not much price movement in that building. point is, most the buildings between madison and vanburen around the area never seemed to drop much in sticker price, which of course leaves them on the market. I started to wonder if 1511 had something wrong with it or if it is just people unable to get the financing.
sorry for the slowly off topic rant..just woke up!
The Edge is a very nice building. I looked at 1511, too – wondered what the story was since it was having so many open houses. How do you like RD659?