Front Street Lofts in Lemont
Posted by Ted Guarnero on Feb 25, 2010 | 0 commentsLOCATION, LOCATION, LOCA-…HMMM.
Front Street Lofts of Lemont.
Who’s looking for an urban loft lifestyle in suburban Lemont? Anyone? Show of hands? Anyone?
And that seems to be the issue: it’s sort of an oxymoron. The Front Street Lofts could probably sell for triple their current listing price…IF they were located in downtown Chicago. They come with all the standard new-construction bells and whistles: stainless appliances, granite counters, high ceilings and open floor plans, even stained concrete floors. But who is buying lofts in Lemont? The developer for Front Street Lofts, is still trying to figure that one out. Their website describes loft dwellers as “people who…value not only spaciousness, but also comfort, convenience and creativity.” At this point, the developer still seems to asking, “if we build it in the burbs, will they come?”
Front Street Lofts has just slashed prices by more than 50% in an effort to move units that have been standing empty for a long time even by current market standards.
1-bedrooms now start at $119,000*
2-story open lofts now start at $179,000*
2-bedroom, 2-story soft lofts now start at $189,000*
These are screaming deals by nearly any standard!
Compare this, for example, to 540 N. Lake Shore Drive in downtown Chicago, where comparable loft properties begin at $255,000 for a 941-sq.-ft. 1-bedroom. Assessments for this unit are a pricey $400/mo.
Also in the plus column of pros and cons, Lemont’s downtown area offers one of those “charming little village” experiences that seems pleasantly frozen in time. Quaint cafes and other unique shops have been built, or are currently on the drawing board. Local forest preserves are available for outdoor activities. The nationally recognized Cog Hill Golf and Country Club is also nearby.
It’s the proverbial trade-off: a very reasonably-priced urban facade in a sleepy bedroom community vs. a higher priced but genuine urban lifestyle just outside your front door. Which is better? Show of hands? Anyone?
For help in deciding if the Front Street Lofts are right for you, contact Ted Guarnero at Baird & Warner, (312) 810-6693.
