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$200K Live/Work Unit Off the 606 Gets Contract in 2 Weeks

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Adding more fuel to the expected real estate frenzy that the 606 is expected to cause in the areas of Logan Square, Humboldt Park and Bucktown that line Bloomingdale Avenue, this live-work condo in the former ACME Artists Community has scored a contract in just two short weeks. Located literally right next to an on-ramp for the elevated park, the 1,200-square-foot simplex unit offers classic loft living features, including an open floor plan, high ceilings with skylights and pine flooring throughout. The relatively low asking price of $199,900 is a steal (the median price for homes in the hot neighborhood in $285,000, according to Zillow), but rates are kept artificially lower due to a limited-equity ordinance for artists (a screening process only allows members of the creative community to own). Adding to the prospective home's value is shared exhibition space and a courtyard with rainwater harvesting. The decade-old unit has seen its share of challenges, included mold and a leaky roof, according to Chicago Magazine, but new sewer lines installed in conjunction with the 606 and a repaired roof should eliminate those issues in the future.

·Buy an Artist Live-Work Condo in Logan Square for $200,000 [Chicago Magazine]
·"Arist Dedicated Comunity" at 2418 Bloomingdale [ArtHouse Chicago]
·2418 W Bloomingdale Ave #107 Chicago, IL 60647 [Redfin]