The nearly news: The highs, lows, and in-betweens of West Loop one-bedrooms

No. 10 Lofts, 1040 W Adams St, Chicago

Now that we’re branching out beyond just new-construction homes and looking at resales and rentals, we can break out a feature that’s been cooking in our heads for a while: It’s time to read you the “nearly news.”

Nearly new homes are exactly what they sound like — homes that are just a few years old and are just starting to turn over for the first time. Given the trends in development over the decade, a starting point for skimming the nearly news is the West Loop, where all sorts of recently built condos are up for resale.

I checked out the West Loop listings this afternoon and pulled out three one-bedrooms built in the last five years that represent the high, low, and median points of the market right now.

High:

  • Unit #2307 at 125 S Jefferson St: A 1,191 square-foot one-bedroom / two-bath listed in the $340s. This southeast-corner unit, marketed by Real People Realty, is on the 23rd floor of the Park Alexandria, a 33-story, 266-unit tower built by Magellan Development. It features hardwood floors, granite kitchen countertops, stainless-steel appliances, and in-unit washer / dryer. Building amenities include a 24-hour door staff, a fitness room, bike and storage rooms, a party room, a sundeck, and an on-site manager. Parking is also available for $25,000.

Low:

  • Unit #261 at 1040 W Adams St: A one-bedroom / one-bath with den listed in the $220s. This short-sale situation is listed at 25 percent off its original list price, according to its listing from Keller Williams Realty Chicago – Lincoln Park. The timber-and-brick unit is located on the second floor of Centrum Properties‘ No. 10 Lofts (above), one of the neighborhood’s most recent loft conversions. It has 12-foot ceiling heights, hardwood floors, a fireplace, a balcony, stainless-steel appliances, granite countertops, and in-unit washer / dryer. The building offers a 24-hour door staff, a fitness room, a party room, and an on-site manager. Parking is included in the purchase price.

In-between:

  • Unit #512 at 950 W Monroe St: A 950 square-foot one-bedroom / one-bath listed in the $260s. This concrete soft-loft, located in MR PropertiesResidences at 950 West Monroe and listed by Sergio & Banks, has western exposures, exposed ductwork, hardwood floors, a gas fireplace, 42-inch kitchen cabinets, granite countertops, Maytag stainless-steel appliances, stone bath finishes, in-unit washer / dryer, and a balcony. The development features a 24-hour door staff, a business center, an exercise room, and a 7-Eleven convenience store at ground level. Parking is available for an additional $35,000.
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