April 2020 Near West Side / West Loop condo sales (unit sales down 40%)

Views from the West Loop (All photos Eric Rojas, Broker, Kale Realty)

The Near West Side Community Area rests just west of the Loop and is home to the very desirable West Loop neighborhood. We've helped buyers, sellers and renters for many years in West Loop and the surrounding burgs. We took a look at Near West Side over-all April condo sales numbers in light of the coronavirus outbreak.  It's the first full calendar month of sales since the shelter-in-place order.

Near West Condo Sales 2020
The affects of the coronavirus took hold in April 2020.  Near West units sales were way down from a typical April. 110 units closed in April 2019. Just 66 units closed in April 2020.  Unit sales were looking good in the First Quarter of the year (January through March). 214 units closed First Quarter in 2020 with a median price of $351,750. 201 units closed in First Quarter 2019 for Near North with a median price of $420,000.

January 2020, 45 condo units closed down 5 units from January 2019
February 2020, 53 units closed up 9 units from February 2019
March 2020, 85 units closed up 10 units from March 2019
April 2020, 66 units closed DOWN 44 units from April 2019.

My guess is we'll see unit sales down near 50% this year around Chicago.  Anecdotally speaking, several units I've showed clients over the past two weeks did go under contract without a price reduction.

Check out our newest listing in West Loop

NEW FOR SALE: West Loop loft at 728 West Jackson, one bed, one bath 1400 sq/ft $319,900

The living room at 728 West Jackson Unit 226. 8ft tall windows, gas fireplace, amazing brick, timber and iron details. Photo virtually staged, VHT.com and Eric Rojas, Broker, Kale Realty.

728 West Jackson Unit 226, Chicago IL 60661 asking $319,900. 

Deeded garage parking available for $30,000.
More photos and info here!

Wow! Enormous West Loop brick and timer 1400 sq/ft loft with 12ft ceilings! Amazing architectural details, iron and wood beams throughout. Freshly painted and new carpet. Large entry foyer and hallway with 5'x5' coat closet and greeting area. 

The Haberdasher Square lofts is one of the better known residential buildings at the doorstep of the Loop. A+ location combined with terrific management. 

The building features two common roof decks with iconic views.  Gas grills and tables provided.

Entry foyer allows for greeting area, hanging space and plenty of storage for your everyday accessories needed to take on the city. 5'x5' walk-in closet is just off the entry door (to the left in the photo).  

Loads of entry space and the fantastic gallery wall make this loft layout special.  Create your city dream loft with your art collection. Wall off an area for a study or line the wall with your extensive library.

Truly must see unique 5'x26' galley is an outstanding opportunity for artists, collectors or create a library, den / study. Open, flexible layout for living and dining, 8ft tall windows and gas fireplace. 

Fresh paint and brand new carpet accentuate the many architectural details. 

Large space and neutral decor provides a truly move-in condo.

Updated kitchen includes brand new refrigerator, new gas range and kitchen pantry. 

Refreshed kitchen with brand new refrigerator and gas range. 14'x14' bedroom with 10ft long double closet. Spacious double vanity bathroom (one sink) and IN-UNIT washer and dryer. Deeded large garage parking space available for purchase at $30K. 

Popular Haberdasher Lofts features 24/7 door staff, bright well equipped fitness room, laundry room, roof deck with iconic views, grills and tables, party room and 1/2 basketball court. Strong reserves and amazing on-site management. A+ location steps from H-Mart, Whole Foods, Greek Town, the Loop business district. Endless eating/ cultural opportunities. Close to Clinton Blue Line, Union Station and immediate 90/94 access. Two pet limit, one dog per unit. No rental restrictions great for flexibility, one year lease required. Deeded Garage available for $30,000.

Skip the gym membership! Bright and well equipped fitness room on the penthouse level.

$670.00/ month assessment includes Heat, Air Conditioning, Water, Gas, Parking, Common Insurance, Doorman, TV/Cable, Exercise Facilities, Exterior Maintenance, Scavenger, Snow Removal.

Exclusively Listed by Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597 - erojas@kalerealty.com

ericrojasblog.com

Quick video walk-through of West Loop loft, for sale this week

Video sneak peek! 728 West Jackson Unit 226, Chicago IL 60661 asking $319,900 plus $30K for garage parking.

View from kitchen to living room.

Deeded garage parking
In-unit washer and dryer
Storage room
Elevator building
Door person
Lobby
Fitness room
Common roof deck
Meeting room
670.00 assessments include: heat, gas, cable and Internet, scavenger, common insurance and maintenance, door person, fitness room

Great rooftop deck views from today.

 Exclusively Listed by Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597 - erojas@kalerealty.com

ericrojasblog.com

West Loop condo median price $460,000 in 2019

Views from the common roof deck at 728 West Jackson in West Loop (all photos Eric Rojas, Broker, Kale Realty). We've started the year off spending a lot of time in the popular, red hot neighborhood.

An astounding 848 condos (attached units) sold over 2019 in the West Loop neighborhood of the Near West Side. The median price of a sold condo is about $460,000.  This puts you in solid two bedrooms, two bathrooms with a parking spot range.  890 condos sold over 2018 with a median price about $470,000.

71 condos have closed this year (January 1st to February 27th) with a median price of $415,000 so far. At the moment 175 condos are listed for sale this early spring with a median asking price of about $499,900.

We have a current renovation underway in West Loop. The one 1400 sq/ft one bedroom loft will hit the market next month.  The West Loop of my youth was know for industrial lofts and rave parties. New construction condos and top flight retail and dining are the story today.

My clients are looking for a three bedrooms unit.  Well... 167 three bedrooms units sold over 2019 with a median price of $885,000 😬

New construction condos are the real story of West loop over the past five to ten years.  Construction and prices really took off about five years ago. 

Pre- construction condos advertise "Private Elevator Residences 4&5 Bedroom + Den $1.2M to $3.3M" 

Top rate retail, services and amenities surround condos in the West Loop. I swung by the Mariano's for a ready made sandwich and quick groceries after visiting our renovation project. I had my pick of Whole Foods, Mariano's, H-Mart and various small markets all within a few blocks of my location. 

Sales at 728 W Jackson: The Haberdasher Square Lofts in West Loop

728 West Jackson, Chicago IL 60661 is a popular loft building in a great West Loop location. All photos Eric Rojas, Broker Kale Realty

We're working with a client who will list and sell their loft condo at the Haberdasher Square Lofts this spring.  I stopped by the West Loop last week to create a plan to prepare the condo for sale. The unit is tenant occupied and the owner lives out of town.  It is a pleasure to be on the ground and run the whole process!  Let's take a look at sales at Haberdasher Lofts, 728 West Jackson, Chicago IL 60661 in West Loop.  

Iconic view outside your door!

20 loft condos have sold at 728 W Jackson over the last twelve months. The median price of a sold condo is about $390,000.  The highest priced sold condo in the building over the last 12 months is Unit 1206 closed at $975,000.  The lowest priced sold unit over the past twelve months is Unit 617 closed for $195,000.  The rare foreclosure unit sold in a cash deal.


Seven units are currently for sale in the building with prices ranging from $280,000 to $699,900. One unit is under contract with an asking price of $270,000 plus an additional $30,000 for a garage parking space.

Purchased for $11M West Loop industrial loft remains vacant for now

1212-1220 West Van Buren has been vacant since late 2016.  The property sits a block from the Racine CTA Racine Blue Line, half block west from a Target Store, close to Skinner School among many other neighborhood amenities and services. The bustling and insanely active Fulton Market is about 5 blocks north. 

We've had several dealings in the 1224 West Van Buren condo building (Van Buren Lofts). Next door sits a vacant and gutted former Oxxford Clothes industrial loft. Crain's reported the building was purchased around $11 million in 2016.  The real estate group discussed converting office lofts but were open to other uses. I have not found any information on pending development.

1220 West Van Buren with Rush University Medical Center in the background.

A permit was issued back in 2017 to "Removal of non-bearing partitions - fixtures (m.e.p) and finishes for investigative purposes in an existing 7-story bldg - no structural demo included." 

The interior courtyard/ light well of 1220 West Van Buren industrial loft building.

We're there for you... when you can't be there!

Everything must go! 1224 W Van Buren #624

We spent several hours Sunday coordinating a furniture move for one of our listings in West Loop. To get the unit leased quickly the furniture had to go. Our clients are out of state.  We were able to get several groups in to remove the furniture and lease the unit over the weekend.

1224 West Van Buren Chicago IL 60607

Prior to the move out we coordinated the painting and repairs of the condo rental.  We are there to help out clients with all sorts of situations.  We can make the market preparation, sale, rental or buying of property easy even when you can't be there. Call or email us today.

Eric Rojas, Broker, Kale Realty
erojas@kalerealty.com
773-510-1597

New West Loop rental! Furnished two bedroom loft, utilities included, Skinner School district

1224 West Van Buren, Unit 624, Chicago IL 60607 for rent $2,200 per month furnished and  available now.

Upgraded kitchen with Bosch appliance package and utensils. All photos Eric Rojas, Broker, Kale Realty and VHT.com

We're excited to offer a new two bedroom rental listing at 1224 West Van Buren in West Loop. Monthly rent includes: Electric, gas, 5G Internet, basic cable, IN-UNIT washer and dryer.  Freshly painted condo rental in amenity building featuring fitness room, yoga studio, media room, roof deck and 24/7 doorman. Permit parking district. Garage parking may be available in the building. Sorry no pets, no smoking. Tenant responsible for daily supplies (i.e. light-bulbs, detergents etc...).

*Applicants must have 650 credit score and 2.5x yearly rental in gross household income (roughly $66,000)* Voucher applicants welcome.

Entry lobby with 24/7 doorman staff.

Furnished living room with plenty of space for a dining table.

Kitchen equipped with plates and silverware.

Master bedroom easily fits the king bed and furniture. Organized closets.

Double vanity master bathroom.

Huge second bedroom. Currently set up with two beds.

Balcony off the living room.

Great West Loop location just steps from Target, UIC campus, Rush University Medical Center, Skinner Elementary, Skinner Park, Racine CTA Blue Line and a billion restaurants and services.

The condo building resides in top rated Skinner School district just steps away.

Escape the bustle in Skinner Park

Exclusively listed by

Eric Rojas, Broker

Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597

erojas@kalerealty.com

Sold! Video tour of our lofty West Loop listing at 420 S Clinton

Watch the video tour of this well located West Loop loft

420 S Clinton Unit #511A listed at $229,900 went under contract the first weekend of showings and closes this Tuesday.  The bright timber loft home at popular Gotham Lofts is an urban commuter's dream. Need trains, buses, highways or the airport... this location is for you!

Gotham Lofts, 420 South Clinton in West Loop (All photos VHT and Eric Rojas, Broker, Kale Realty)

420 South Clinton 511A, Chicago IL 60607 at popular and well run Gotham Lofts is a great value at $229,900.  Homes have sold very well in the building. The desirable location is steps from the Blue Line, great restaurant and bar scene, the Metra and easy access to 90/94.  Starbucks on the block too!

Open concept true loft with high timber ceilings, gas log fireplace, great balcony and hardwood floors. The entire unit has been freshly painted.

Looks like new.

New appliances and large island in the kitchen.

Great balcony with city views.

Spacious bedroom with new carpet and huge windows.

Great sized bathroom, freshly painted and updated.

Awesome common roof-deck with Wi-Fi

The elevator building has several amenities including roof-deck, bike room and fitness room.

Walk to all West Loop has to offer!

Listed Exclusively by Eric Rojas, Broker
Kale Realty
542 W Roosevelt Road
Chicago IL 60607
(312) 939-5253