There’s something different about Van Buren Lofts, a.k.a. VB 1224, located at 1224 W. Van Buren, in the West Loop. It hits you as soon as you walk in the door – sooner actually, if you’ve seen advertisements for the project, or checked out the development Web site, www.VB1224.com.
Ads for the loft conversion, marketed by New West Realty, feature larger-than-life cartoon characters spreading the word about the new development in hot pinks and greens. On the front page of the Web site, a wide-eyed, gushing cartoon woman greets you, bursting with enthusiasm for these lofts, and the theme continues in the sales center and models, where the colors are vibrant, and Andy Warhol’s fingerprints are everywhere.
If the idea was to convey a building that stands out in the minds of potential buyers, VB1224 succeeded, according to Lisa Ledonne, who bought a unit soon after the project opened in July. “I really liked the look of it,” says Ledonne, a nurse at Rush University Medical Center buying her first home. “It accentuates the features of the loft.”
But the pop art motif points to something deeper as well, according to co-developer Ted Mazola, president of New West Realty and a partner in VB 1224 Lofts, LLC.
“Van Buren Lofts illustrates a powerful blend of creativity and cutting-edge design while staying true to the historic roots of the urban loft lifestyle,” Mazola says.
The term “lifestyle” gets tossed around so much in real estate it’s become something of a cliché, but talk to a few buyers at Van Buren Lofts, and it’s clear that this is how they define the development.
“The location is so convenient – my work is on Jackson, so I can walk there in 20 minutes if I want to – and it will be great being in the city, especially being young,” says Erin Duckhorn, a 23-year-old who works for Citigroup and was another early purchaser at Van Buren Lofts. “They have a model, which is identical to the unit I bought, with hardwood floors and 14-foot ceilings and a huge window. I love the way it’s set up. I face north, which gets lots of light – I’m all about that window.”
Duckhorn’s enthusiasm – strong enough to make you wonder if the cartoon woman on the Web site is sketched from this actual buyer – only grows as she talks about her future neighbors. She and Ledonne, who will be living two doors apart, are close friends, and Natalie West, who is friends with both of them and worked in sales at the development, will be living next door.
Sales manager Michael Jacobs says the lifestyle approach at the development fosters a sense of comfort and community. “We have a movie room, a fitness center – we’ll have one room on each floor designated for different amenities.”
But Jacobs points out that competitive pricing may be the biggest factor drawing buyers to Van Buren Lofts. One-bedroom units with dens start in the $230s, and the largest three-bedrooms with dens and 2.5 baths are in the $600,000 range.
“We are by far the lowest price per square foot in West Loop,” Jacobs says. “We have a lot of value. Our one-bedrooms with dens are the same price as one-bedrooms without dens at other West Loop projects.”
Two floors of new construction are being added to the building’s original six stories for a total of 182 condominiums. The lofts have exposed ductwork, exposed concrete columns, hardwood floors in living areas and exposed concrete ceilings that are 14 feet on the original floors and 10 feet high on the new floors. Other features include track lighting, gas fireplaces with granite hearths, carpeting in bedrooms and dens, balconies or terraces, GE appliances, oak cabinets, ceramic tile baths and Moen fixtures. Indoor deeded parking is $29,900 per spot.
At press time, Van Buren Lofts was 30 percent sold, with first occupancy scheduled for April of 2006.