You Can Get a 2/2 With Parking for Under $325,000: 320 East 21st in the South Loop
This 2-bedroom loft in the Chess Lofts at 320 East 21st in the South Loop just came on the market.
The Chess Lofts is the old Chess Records Studio building and was converted into lofts at the end of the housing bubble, in 2008.
For that reason, many of the units went unsold and/or many of the original buyers got into distress.
This loft has 16 foot ceilings and new wood flooring in the main living areas.
It has concrete ceilings and exposed concrete walls (but no exposed brick.)
The master suite has a window while the second bedroom doesn’t.
The loft has a private balcony.
It has all the features that buyers look for including central air, washer/dryer in the unit and garage parking is $25,000.
Recently, several other units came on the market in this building, all with the same set of pictures.
This loft is listed at $295,000 plus $25,000 for the parking. In 2008, it sold for $389,500 with the parking spot but there was a lis pendens foreclosure filed and it went back to the bank.
10 years after the original sales, is the Chess Lofts finally recovered from the housing bust?
Charles Gullett at Best Chicago Properties has the listing. See the pictures here.
Unit #604: 2 bedrooms, 2 baths, no square footage listed
- Sold in February 2008 for $389,500
- Lis pendens foreclosure filed in May 2010
- Sold in November 2010 for $202,000 (doesn’t appear to include the parking)
- Currently listed at $295,000 (plus $25,000 for the parking)
- Assessments of $426 a month (includes heat, a/c, gas, lawn care, scavenger, snow removal and basic cable. This is not a doorman building.)
- Taxes of $4348
- Central Air
- Washer/dryer in the unit
- Balcony
- Bedroom #1: 14×10
- Bedroom #2: 11×10
- Living room: 20×11
- Kitchen: 12×8
The best in hallway living
Its probably better suited for an AirBnB Vs a true living space. Could probably do pretty well with the conventions, etc
too bad most condo boards have banned airbnb’s
If you open up that wall between the living room and the master bedroom, this would be a really nice one bedroom condo.
Sabrina – I am posting this with a different email address than the one I was previously using – if you approve this, maybe I’ll be able to post regularly again?
Huh – posted without approval – PROBLEM SOLVED!
Wow not even a super wide-angle lens and white paint could make this bowling alley layout feel spacious. Less than 11 ft wide really hurts functionality. $425 HOA seems reasonable for what you get. Not a huge fan of the location.
Johnny, this building is not under the House Share Prohibited Buildings list so there might be a chance you can BnB it. But chances are the association (like most) prohibits rentals less than 30 days and/or just never got around to filing to be excluded from short term rental ordinance.
My computer not longer caches my information for Crib Chatter, so my posts always need approval now. Not sure how to fix this problem. I have cookies turned on in my browser.
Way too far south for me. The high ceilings are great, but make the bowling alley feel even more exaggerated imo. For ~320K with parking it’s not a terrible deal though.
I think this is a good deal. Assessments include a lot, the location is just getting better and better. You could rent it to the university students, or faculty and it can eventually be used as a pied. My brother lives in a bowling alley type of place. It’s not bad. The good thing is there are a lot of wall space for art.
“My computer not longer caches my information for Crib Chatter, so my posts always need approval now. Not sure how to fix this problem. I have cookies turned on in my browser.”
yeah jenny thats strange, I have to enter my email address (or click autofill) every time I post since it never saves anymore which is annoying but at least I can chatter
My information is still saved on my home computers. Odd.
My CC information never saves anymore either. I believe it coincided with an “upgrade” to iOS 11.
Sabrina, is there a way to fix the approval process for people whose computers/phones no longer set a cookie for this site?
“Sabrina, is there a way to fix the approval process for people whose computers/phones no longer set a cookie for this site?”
I don’t think so Jenny. But I’m going to upgrade the site this weekend so that might fix your problem (fingers crossed.)