On Nov. 15, loft lovers will have a chance to bid a piece of Chicago history when Sheldon Good & Company auctions 20 unsold units from the Motor Row Lofts development, located at 2303 S Michigan Ave in the South Loop.
For that day only, the lofts will be available at minimum bids up to 54 percent off their listing prices. They include one-bedrooms with 926 to 1,107 square feet, subject to minimum bids as low as $140,000, two-bedrooms with 1,175 to 1,679 square feet, subject to minimum bids as low as $180,000, and three-bedrooms with 1,649 to 2,049 square feet subject to minimum bids as low as $240,000. Eight of the lofts are guaranteed to be sold at the stated minimum bids.
Over the next five weeks, we’ll take you on a new video tour of the Motor Row Lofts with developer Paul Zucker and introduce you to Julie First of Sheldon Good & Company, who will explain the home auction process. In today’s installment, Joe Zekas meets up with Paul in the development’s large, light-filled garage, and the duo head outside for a look along Michigan Avenue in the heart of the Motor Row District.
In 2008, Paul completed a massive renovation of three Holabird & Roche-designed automobile showrooms, converting them into 52 one- to three-bedroom loft residences with 36 different floor plans. Due to the project’s location in the heart of the Motor Row Historic District, he was tasked with creating luxury lofts that appealed to today’s buyer while maintaining the buildings’ historic character. Many of the details of the Motor Row Lofts’ design — from the exterior’s ornamental terra cotta to the lobby’s tile floor to the 10- to 15-foot window heights overlooking Michigan Avenue – are elements preserved from the original showrooms.
For more information on Motor Row Lofts and its auction, visit the Motor Row Lofts and Sheldon Good & Company profiles on NewHomeNotebook, the Motor Row Lofts YouTube channel, and Sheldon Good & Company’s Facebook fan page.