What is everyone's expert opinion on PrintersRow loft on 732 S Financial? Good place to buy? Or does the age of this building should be a

Asked by Alexlin25, Chicago, IL Fri Dec 6, 2013

concern?

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13
Cindy Wilson, Agent, Chicago, IL
Sat Dec 7, 2013
You seem to be using us to do the work of a dedicated buyer agent. Have your agent do more in-depth research on the building for you. If you are trying to do this on your own and use Trulia agents to screen buildings for you, then it's probably time to select an agent to work on your behalf to ensure that you get all of the information you want/need before you purchase. Good luck.
1 vote
Josh Barnett, Agent, Carney, OK
Sat Dec 7, 2013
Great question, be sure to discuss with your agent.
1 vote
Jacqueline S…, Agent, Chicago, IL
Sat Dec 7, 2013
This is a great area to live in and to invest in. It is a very charming area. You have to find a good unit in the building that will require less work, or get one cheap enough to make your own. Older buildings have high assessment and are prone to special assessments to repair infrastructure, but they also have a character that you will not get in newer buildings. Pick wisely and read the last 12 months of board minutes to see if specials are planed in the near future.
1 vote
Also, if you call the manager, they can give you a summary over the phone to give you more details on this building.
Flag Thu Dec 12, 2013
Yes, contact the management office. They have a web site with the details or they can give you a copy, probably for a small fee.
Flag Thu Dec 12, 2013
Is there any way to get detailed info on an HOA without first making an offer?
Flag Sat Dec 7, 2013
Edith Karoli…, Agent, Winnetka, IL
Sat Dec 14, 2013
Anytime you buy a condo, you need to do detailed research, and for any buyer do work with an experienced city Realtor, who will try to get all information necessary for you to be a well educated buyer and familiar with the financial and repair plans and details of the building including available reserves and recent upgrades and updates to the building...

And the unit itself, may have or have not been updated and well maintained by current owners.
Work with an experienced local Realtor familiar with the condo market and Printers Row in particular. If you need a good recommendation get back to me and I gladly provide you with one of my partner agents in the city.
Sincerely yours & a Great Day to YOU
Edith YourRealtor4Life
@Properties – 30 Green Bay Rd, Winnetka, Il. 60093
EdithSellsHomes@gmail.com WEB: http://tinyurl.com/YourRealtor4LIfe
City of Chicago,N&NW suburbs; also W&SW subs – NORTH SHORES Fine Homes
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0 votes
Stephanie Sc…, Agent, Chicago, IL
Thu Dec 12, 2013
Hi Alex,

You should really contact an agent to work with.

Here's what I would tell you if you were working with me...

"The exterior of the building looks very nice but a red flag was raised for me since the listing agent didn't include any interior photos of the property. I would be happy to get inside the property and check it out for you or schedule a time for us to see it together before we even start considering this an option."

And it could absolutely be the case that the unit is pristine and the agent is teasing us just to get us to come see it in person and fall in love instantly. Or it could be the opposite...it's a disaster.
0 votes
Mike Kravitz, Agent, Chicago, IL
Mon Dec 9, 2013
Love the building, but not sure about the reserves and the rest of the financials.
0 votes
Manuel Brown, Agent, Chicago, IL
Sun Dec 8, 2013
Before making any purchase, make sure you work with a buyers agent that will do research on the buildings you are looking at as your potential home.

The location is great but nothing is better than selecting a buyer agent.
0 votes
Kenneth Baker, Agent, Chicago, IL
Sat Dec 7, 2013
It's a great location and a great neighborhood. Always do your due diligence thoroughly and ask detailed questions on what the association has planned for the coming years. The building sits next to the Metra line on the east and the alley on the west so if noise or poor light are issues this may not be the building for you.
Best of luck on your search.
0 votes
Matt Laricy, Agent, Chicago, IL
Sat Dec 7, 2013
Well its had a few special assessments. This is not always a problem, but they have had a few in the last few years. Also, it had more than its fair share of foreclosures and short sales which is why the prices are so low in there. A reason a lot of them went into short sale and foreclosure is because of the specials.

My opinion is if you like the location and want a cheaper unit, then this is an option. But if you had some extra dough, I would buy elsewhere.
0 votes
Luke Wojcik, Agent, Chicago, IL
Sat Dec 7, 2013
Dont focus too much on the age of the building as much as the financial health of the hoa and the direct area around it. Often times older construction is much more solid than some of these buildings built in the boom. We've seen a ton of new buildings be plagued by special assessments because of builder negligence and/or poor quality work and materials.
0 votes
Santiago Ken…, Agent, Chicago, IL
Sat Dec 7, 2013
Great area , the biulding is very old but in good shape with a good bar in the corner ;)
0 votes
Philip Sencer, Agent, Chicago, IL
Sat Dec 7, 2013
not sure age is an issue, but check the financials of the building. There is no parking in the building and that can be a negative for some people. The building faces the Metra and that is a negative for many people. The building is located in the somewhat isolated area of Printers Row so not near much. All these things can have negative value for resale and tenants so check comps.
0 votes
Jorge Vega, Agent, Chicago, IL
Sat Dec 7, 2013
It's a great place but always get an inspection done and make sure the inspector reviews the common elements of the building. The reserves are also a good indicator of possible future increase in assessments due to lack of maintenance. Good luck!
0 votes
I have had the opportunity to live within the neighborhood for the past 5 years and love it! It is definitely not isolated location as there is plenty to do within walking distance but most importantly the proximity to the Loop, other neighborhoods (South Loop, West Loop, River North, China-town) the expressway, Roosevelt Collection -Icon Showplace and lake shore drive are why Printers Row will continue to do well. This is an excellent timber loft option if that is what your looking to purchase. If your looking for a view you probably won't find one within a timber loft building unless your budget is 3x's higher and or your considering the west loop where your positioned among other mid-rises and far enough west to capture a city view. Deeded Parking is available in the building but is limited to 50 parking spaces for the 138 units within the building.
Flag Sat Dec 7, 2013
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