With $300K You Can Get One Of These West Loop Lofts
The West Loop area is changing fast, but deals can still be easily found in the area. Now that the housing market has recovered from the deep freeze of the recession, home prices are beginning to climb, but the West Loop area has a solid inventory of lofts that can be had for under $300,000. Don’t expect to get an enormous raw space with multiple bedrooms though, but single folks and couples without kids can easily make any of these units work. The area’s residents may not be hot on the idea of building anymore new rental units in the neighborhood, but would-be West Loopers will find that a mortgage on a $250,000 unit will be about the same, if not less, than the price of a new rental.
22 N. Morgan St. #104
Size: 1 bed, 1 bed (1,100 square feet)
Price: $259,000 (HOA Dues: $291/month)
Broker’s notes: One bedroom, one bathroom with bonus lofted space in the heart of the West Loop! Timber loft with 18 foot ceilings, 1100 square feet of space. Hardwood floors, in-unit washer and dryer, tons of storage space, full dining room area, and large living room. Ext parking included. Private courtyard creates a quiet, intimate community while still being surrounded by all the best dining and entertainment in the city. Steps from ‘L’ and buses. A one of a kind space.
Additional notes: The kitchen is outdated and could use an updating and the bedroom spaces are very cramped. Otherwise, the common area is quite nice and parking is included.
843 W. Adams St. #411
Size: 1 bed, 1 bath (905 square feet)
Price: $249,900 (HOA dues: $338/month)
Broker’s notes: Jumbo one bedroom, one bathroom condo loft available in hot West Loop location. Unit features include 14 foot concrete ceilings, huge floor to ceiling windows, hardwood floors, granite countertops, kitchen island, stainless steel appliances, large balcony with skyline views, fireplace, washer and dryer in unit, tons of closet space with additional storage. Assessments include cable TV & HBO.
Additional notes: It certainly looks like this one gets more natural sunlight than the previous listing, but it’s also slightly smaller. The asking price is also a bit lower, but the HOA dues are higher, making it difficult to say which unit will end up being less expensive in the end.
901 W. Madison Ave. #701
Size: 1 bed, 1 bath (square feet unlisted)
Price: $299,000 (HOA dues: $285/month)
Broker’s notes: Heart of West Loop bright unit with southern exposure, floor to ceiling windows, hardwood floors, granite counter-tops, stainless steel appliances in-unit laundry, walk in closet over looking courtyard. Building includes doorperson, large fitness center, Sky Club party room, sun deck, outdoor terrace/grills, dog run and bike room. Walk to Mariano’s, trendy boutiques and great restaurants. Deeded pkg sold separately.
Additional notes: Not a fan of the raw loft look? Here’s one with finished ceilings and walls. It doesn’t appear to be as big as the other two lofts, but the location is pretty great.