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Short Sale: Motor Row Timber Loft w/ 14' Ceilings, Private Deck

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Motor Row isn't a dense residential area—yet—nor does it have a ton of people clamoring for its loft spaces—yet. The radical changes in perennial discussion and periodic dormancy may one day make an entertainment district of the blocks of old car dealerships. For now, the thing many neighborhood folk are eager for is the forthcoming Cermak-McCormick Place Green Line Station. As it happens, today's Michigan Avenue budget find is right around the corner from the future station. The one-bed/one-bath + office belongs to a sublime heavy timber loft conversion and dates to 1911. It has 14' ceilings, hardwood floors, an overhanging bedroom, newer kitchen, fireplace, and a large private terrace w/ a sleek corrugated steel divider. The $150K asking price wouldn't happen if the sale was healthy and happy, but it's not. The short sale includes a storage unit and deeded garage parking, and the listing agent points out that the unit has previously leased for $1,550— a fair bit of rental income were you to go that route.
·Listing: 2303 S Michigan Ave. #215 [Jameson Sotheby's]