Price Reduced Listing
1516 S Wabash Avenue 1102,Chicago, IL 60605
Chicago, IL 60605
Description
Landmark Lofts is an investor-friendly condo association, making this top-floor northeast-corner residence an exceptional opportunity for investors and owner-occupants. Based on estimated market rent for both the residence and deeded heated parking space, the property offers the potential for an upwards-of-6% capitalization rate, subject to buyer verification and operating assumptions. This expansive approximately 1,500-square-foot loft features 2 bedrooms, 2 full baths, soaring ceilings, oversized windows, sweeping skyline and lake views, and a private balcony. The open living and dining area flows into a renovated kitchen with quartz countertops, stainless-steel appliances, abundant cabinetry, and generous workspace. Additional highlights include an updated HVAC system, new full-size in-unit washer and dryer, a spacious primary suite with walk-in closet, dedicated storage, and deeded heated garage parking. Ideally located in the South Loop near the Loop, CTA transportation, Museum Campus, Grant Park, the lakefront, restaurants, shopping, universities, hospitals, and major employment centers. A turnkey rental condo investment with strong income potential, valuable parking revenue, and excellent owner-user flexibility. All rental and investment figures are estimates and should be independently verified by the buyer.
Details
| MLS # | 12677489 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| HOA Dues | $871 |
| Sub-Type | Resale |
| Status | Active |
| Year | 1920 |
| Days On Site | 108 |
| Listing Provided By | ALLURE Real Estate | Cecil Sabu |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,500 |
| Garage | 1 |
| Story(s) | 11 |
Interior
| Rooms Total | 5 |
|---|---|
| Cooling | Central Air |
| Heating | Natural Gas, Forced Air |
| Interior Features | Storage, Built-in Features, Walk-In Closet(s), Open Floorplan |
| Appliances | Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Disposal, Range Hood |
| Fireplaces Total | 0 |
| Laundry Features | Washer Hookup, In Unit |
| Window Features | Drapes |
Exterior
| Exterior Features | Balcony |
|---|---|
| Roof | Rubber |
| Foundation Details | Concrete Perimeter |
| Lot Features | Common Grounds |
| Construction Materials | Brick, Stone, Limestone |
Parking
| Parking Features | Concrete, Heated Garage, Yes, Garage Owned, Attached, Garage |
|---|---|
| Garage Spaces | 1 |
Utilities
| Sewer | Public Sewer |
|---|---|
| Electric | Circuit Breakers, 200+ Amp Service |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 7109.76 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60605 |
| Area | CHI Near South Side |
| Community Name | Landmark Lofts |
| School District | Jones College Prep High School |
| Elementary School | South Loop Elementary School |
| High School | Jones College Prep High School |
| Listing VS Median (in Landmark Lofts) | |
Price: $434,999 low | high Med: $219,000 sqft: 1,500 low | high Med: 1,340 $ / sqft: $290 low | high Med: $146 On site: 108 low | high Med: 67.5 | |
Market Activity 60605
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60605 |
| Area | CHI Near South Side |
| Community Name | Landmark Lofts |
| School District | Jones College Prep High School |
| Elementary School | South Loop Elementary School |
| High School | Jones College Prep High School |
| Listing VS Median (in Landmark Lofts) | |
Price: $434,999 low | high Med: $219,000 sqft: 1,500 low | high Med: 1,340 $ / sqft: $290 low | high Med: $146 On site: 108 low | high Med: 67.5 | |
