Pencil Factory Lofts

Properties Pencil Factory Lofts

Address: 1800 West Roscoe Street Chicago IL 60618

Aliases: "The Pencil Factory Lofts" or "Roscoe Village Lofts"

Current Listed 1800 W. Roscoe St. Units

Neighborhood: Roscoe Village
Total Number of Units: 139
Year Built:
AirConditioning: Cen Air
Exterior: Br
Common Area Amenities: Bike Room/trls, Coin
Garage: Attached, Auto Door
Parking Desc: On-site
Parking: Garage
Pet Info: Cats Ok, Dogs Ok
Pets Allowed: Y
Special Assessment:

DESCRIPTION
An old factory building, converted to condominiums in 1993, 1800 Roscoe is one of the neighborhoods’ and city’s most popular buildings.

The building units boast true unique loft layouts that are in contrast to today’s more vanilla, "manufactured" lofts. High ceilings, cement columns and exposed brick give each unit an urban and sometime industrial feel. Owners consistently talk about how comfortable, calm and happy they are with the building and their unit. Most love living in the building and some often "buy up" into larger units and some have even combined 2 units together.

AMENITIES
The building itself has amenities not found in other buildings in the area. For instance, there is a hospitality room and yard on the west side of the building tenants can use to host parties, grill, lay in the sun and generally enjoy a nice day. The building also has a newly-updated workout room (early 2007), on-site dry cleaner, on-site maintenance staff, doorperson, and rooftop deck with an amazing skyline view.

PARKING
Parking is another unique aspect of this building. The building has an attached, heated garage for 120 spaces that has a car port where owners can wash their cars inside. All spaces are owned by the individual unit owners and because the unit numbers are greater than the space numbers (120 spots for 140 units), parking rarely comes up for sale outside a unit sale.

The garage parking problem is rectified easily by a deal the building and management company have with the CTA (Chicago Transit Authority). The building has a rental lot behind the building where spots are rented exclusively to unit owners for $55/month.

BUILDING CONDITION
In 2003, the building had a special assessment which gave the association the capital to do much-needed tuck-pointing, roof replacement, new rooftop deck and other building repairs. In almost every case, when a unit is sold, the previous owner pays the balance of their special assessment. In 2006, the building painted all the hallways, replaced carpeting where needed and did other common area upgrades and repair.

MARKET STATISTICS
See chart on the left for details about recent and distant past sales.