Located on the eastern edge of Chicago’s Fulton River District, this roomy eighth-floor condo in former North American Cold Storage Company building hit the market just yesterday. While the confluence of the Chicago River has changed a lot over the past 100 years, the 1908 building—along with the Kinzie Street railroad bridge—stands as a dramatic reminder of the area’s industrial past.
Designed by Frank B. Abbott, the once windowless building served as a refrigerated warehouse prior to its conversion into residential loft-style condos by architect Harry Weese in 1981. The old structure is described as an “architectural icon” by the listing agent and is a short stroll from the Loop, River North, the West Loop, the Chicago Riverwalk, and the city’s commuter rail hubs.
This particular three-bedroom unit was created by combining two smaller condos and sports an 80-foot-long man living space fronting the water. It also includes two outdoor terraces, two bathrooms, an upgraded kitchen, and the unusual barrel-vaulted ceilings that are a trademark of the historic building.
After last selling in 2005 for $627,500, the newly-listed home is currently seeking $775,000. While the $1,326 monthly assessment is considerable (more on that in a moment), so is the amount of space available—2,600 square feet worth, to be more precise.
Prospective buyers, however, would be smart to do a bit of extra research into the condition of the building and the state of its finances. An ongoing multi-year facade restoration project already cost its residents thousands of dollars in special assessments and additional work could be required in the future. There’s also unconfirmed rumors that a developer was engaged in talks to buy the building.