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You Can Afford to Live Alone in This $225K South Loop Loft

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The rental market in Chicago is starting to look a bit bubbly, but here's a chance to own a place for the same price (or less) that you'd be paying for rent. This single bedroom, single bath on South Michigan Avenue appears to be quite comfortable in size and sports a true industrial loft look with its exposed brick and timber beams. And if you happen to have some money squirreled away for a down payment, this one could be had for $225,000. The mortgage calculator estimates that a payment on something like this would come out to around $800 per month. Tack on the $300 in monthly assessments and property taxes and you'd be looking at a monthly payment in the $1,100-$1,500 range. That's really not that bad considering how the cost of rentals continues to climb with seemingly no end in sight. Parking will cost an extra $20K however, which will push the ask closer to the $250K range.

·1801 South Michigan Avenue Unit 308, Chicago, IL [Estately]
·Under $300K Club archives [Curbed Chicago]
·South Loop archives [Curbed Chicago]