Riding the rails: An upgraded resale competing against new homes at Renaissance Lofts

Renaissance Lofts, 1791 W Howard St, Chicago Renaissance Lofts, 1791 W Howard St, Chicago

Grab your Chicago Card — we’re going on a ride down the Red Line! In the coming weeks, I’m going to single out a home for sale near each of the Red Line’s stations, from Rogers Park all the way to Roseland. Up first: the Howard station at Howard and Paulina.

Dozens of homes are for sale within walking distance of the station. Most are two-bedroom condos inside converted apartment buildings along streets like Greenview Avenue, Bosworth Avenue, Jonquil Terrace, and Juneway Terrace. The rest are concentrated in one development: Renaissance Lofts, Kopley Group‘s 37-unit conversion of the old concrete Pivot Point building at 1791 W Howard St.

Kopley just entered its fourth year of marketing at Renaissance and still has homes for sale, but the unit that interests me is a resale. Unit #506 is a “highly upgraded” two-bedroom / two-bath loft with 1,200 square feet. Its current owner bought it in January 2008 for $310,674 and listed it ever so briefly in December of that year. The home just went back on the market this week for $270,000.

The loft features cherry floors, custom cabinets, Jenn Air stainless-steel appliances (including a wine fridge), custom window treatments, a front-loading washer / dryer, and an east-facing balcony. Monthly assessments covering water, common insurance, security, cable TV, exterior maintenance, scavenger, and snow removal are estimated at $262. Taxes were assessed in 2008 at $4,636.

Kopley is currently marketing a loft in the same tier, unit #406, for $274,500.

It’s worth reminding readers at this point about Kevin Black’s posts at NewHomeNotebook about his problems and frustrations at Renaissance Lofts.

Renaissance Lofts tier 06, 1791 W Howard St, Chicago

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