What You Get in Lincoln Park for $599,999 in 2023: A 2/2 Loft at 1158 W. Armitage
This 2-bedroom loft in The Hedman Lofts at 1158 W. Armitage in Lincoln Park came on the market in September 2022 but it has been on, and off, the market since then.
The Hedman Lofts is a boutique loft building that was converted into 14 loft-like units in 1997. It has an elevator, a shared rooftop deck, and heated garage parking.
There’s no doorman but there is a bike room and extra storage in front of the garage spaces.
This unit has 11-foot ceilings, exposed ductwork, exposed brick and concrete beams.
It’s a Southwest corner unit with its own private deck accessed from both the kitchen and sliding glass doors in the primary bedroom.
The kitchen is open to the living room which has a corner gas fireplace. There’s no dining room but there is a breakfast bar.
The kitchen has white cabinets and wood cabinets on the island with a white tiled backsplash, and stainless steel appliances.
The primary suite has enough space for an office nook, a walk-in-closet, an en suite bath with a walk-in-shower, soaking tub and dual vanity.
The second bedroom could also be a home office and there is a “updated bath” adjacent.
This unit has the features buyers look for including central air, washer/dryer in the unit and a rare 2-heated tandem garage parking spaces that are included in the price.
The listing says there was improved security for the building in 2023.
This building is in the heart of the Armitage Corridor, near the Brown Line El stop and the shops and restaurants of the Clybourn Corridor.
The listing describes all the nearby amenities as:
ACCESS TO GREEN & NATURAL SPACES: Minutes from Adams (George & Adele) Park featuring playground, seasonal splash pad & regular indoor kid activities. Near the Chicago North Branch River. Shop Whole Foods, Trader Joe’s, ALDI, & Mariano’s. Enjoy NEIGHBORHOOD FAVORITES: Old Pueblo, Tarantinos, Armitage Alehouse, Alinea, Homeslice, Pequod’s Pizzeria, BOKA, Butcher & The Burger, The Budlong Hot Chicken, Cedar Palace, Blue Door, Cafe Ba-Ba-Reeba, Summer House Santa Monica, & Sweet Mandy B’s.
Listed in September 2022 at $629,000, It has been on, and off, the market and was reduced to $599,999 in April 2023.
It last sold in June 2015 for $595,000.
Is this a deal?
Leigh Marcus at @Properties Christie’s has the listing. See the pictures and floor plan here.
Unit #206: 2 bedrooms, 2 baths, no square footage listed, loft
- Sold in April 1997 for $210,500
- Sold in October 1999 for $319,000
- Sold in May 2008 for $450,000
- Sold in June 2015 for $595,000
- Originally listed in September 2022 for $629,000
- Reduced
- Listed in April 2023 at $599,999
- Currently still listed at $599,999
- Assessments of $575 a month (includes heat, security, exterior maintenance, scavenger, snow removal)
- Taxes of $8735
- Central Air
- Washer/dryer in the unit
- 2-car heated garage parking included
- Elevator building
- Gas fireplace
- Bedroom #1: 18×12
- Bedroom #2: 12×9
- Living room: 16×16
- Kitchen: 18×9
- Laundry: 8×3
- Walk-in-closet: 8×6
- Foyer: 10×4
- Private porch: 16×9
The sf is on the floor plan – 1173sf (Maybe seems a bit heavy, migh be including the parking)
So is it now the norm to not that anything within 0.5 mi is an amenity?
I cant believe that they’re going to lose money, should be unpossible as its in LP and there’s no inventory.
As for the unit
The living area is really small and no room for a DR Table
There something I really dislike about the kitchen, the back splash is really bad
The FP tile is jarring
These faux lux units and going to get crushed going forward. For the majority of people dropping another $80k to update + $120k DP + $4.8k/mo doesnt make any sense Vs renting (and no amenities), especially with almost zero hope of appreciation.
Would it really be too much to ask of the broker to go and take some current pics of the outdoor spaces to replace the ones that make it seem like all would-be buyers have already looked at this place and said “no” (twice)?
Seems like a fair ask. Wonder if special assessments are looming.
Would be a pretty nice 1+den/2 (open up second bed, make the 2d bath smaller), but is so-so as a 2/2.
But that’s likely crushing to value or buyer pool or both, even if you could make the changes for free.
Kind of “meh” for $600k. The living area is too small.
“I cant believe that they’re going to lose money, should be unpossible as its in LP and there’s no inventory.”
There’s a reason I pick out these properties, right JohnnyU? Duh.
No, not everyone is making money who bought 8 years ago.
I feel like the living area is fine but it’s missing the usual dining room which makes it feel smaller.
“the usual dining room”
…which most people consider, along with an open kitchen, to be part of the “living area” aka “public space”.
open up the 2d bed to the public space (and blow out the closet), move the bathroom door back to the otherside of the memorabilia notch, turn the entry closet 90 degrees, and you have a huge living area. But also a relatively unmarketable 1 bedroom.
There’s a virtual tour linked in the listing–in it you can see that nonny’s complaint about snow pix isn’t the biggest issue–check the utility room floor, and hvac return vent, and the shower in the 1st bath. 100% turnoff at the ask.
Never get rid of bedrooms. Never, ever.
Reduced to $585k, open tomorrow.
Thats HAWT(tm)