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South Loop Loft Listed for Almost $200K Below '06 Sale Price

In the market for some new digs, but don't have a sky-high budget? Join the club — The Under 300K Club.

What have we here? A snappy-looking, bi-level loft in the South Loop that's the recent recipient of several hefty price reductions. Located in a former Ford dealership, the 1,350-square-foot loft appears to have just what you'd hope to find in an industrial loft: exposed brick, big timber beams, tall ceilings, and a nice big wall of windows facing Michigan Ave. The place sold for $495,000 in 2006 and came back on the market for $410,000 in 2009. Since then, the price has taken a meandering path downward. When Crib Chatter checked in on this unit last fall, it was priced at $325,000 and parking was extra. It's now priced at an even $300,000, and one parking space is included. So why isn't it selling? A Redfin agent offered this review: "Unusual layout with brick and timber. Small closets." And a Crib Chatterer, who also toured it had this to say: "Creaky floors and 'private rooftop deck' isn't anything you'd want to spend much time on. More like someone threw down some a few boards on top of an industrial rooftop."
· Listing: 1442 S. Michigan Ave. Unit A [Keller Williams]
· We Love Authentic Lofts Overlooking Michigan Avenue [Crib Chatter]