Tuesday Two Hundred: Own a Piece of the Dallas Skyline for Only $199,900

Update 11:54 pm: I’m told the building was completely sold out to a developer who revamped it in 2005. No active foreclosures now, but like life anywhere, you can never say never.

This unit at the historic Santa Fe Terminal Building #2 , also known as “SoCo Urban Lofts” at 1122 Jackson #1006, is being billed as the most unique loft in downtown Dallas. You know, I think they have something! It’s a 3-story, 1173 square ft., open floor plan – loft! — with bedroom alcove, one knocked out bath, it’s own private rooftop terrace and a (condo) rooftop swimming pool on the 10th floor. In fact, it’s the only non-penthouse unit in the building that extends up to penthouse level. The top two floors create a box on top of the building that can be etched out and recognized on the Dallas skyline, even with binoculars. There you are at a party, having drinks at The Ritz: you point over to BofA Plaza and say, see that, that is my loft! Once inside, you have the exposed 90 year old brick, polished original wood floors and loft ladders as in any SoHo or Bowery loft.

Building #2 was known as the Garment Center, 10-story warehouses in light brown brick with open spaces and concrete columns housing offices and showrooms for manufacturing companies, chemical companies, and building supplies. A 2-story structure was added on the roof that once held the University Club, an exclusive private club for men. A skybridge once conveniently connected Santa Fe Building No.1 with the clubhouse. Radio station WFAA moved into and turned the former University Club space into a broadcast station in 1940.

But here’s the good news: this home comes renovated to the nines. The owner took it down to studs to gut for a personal home, then did not move in. So you’ve guessed it: you get higher-grade finish out than what Joe. Q. investor/flipper might put in. Check out this PC/Preston Hollow-worthy kitchen with stainless appliances, custom cabinetry, granite, and designer fixtures. The bath is spa-like, and the entire home boasts incredible acid-etched concrete floors where there is no wood. Young single or newlyweds, bingo, but I am also thinking a great empty nester urban retreat at a fraction of the price of many downtown condos, even the soon-to-be discounted The House. Hmmm… let’s look at what you get: 24 hour security, gated, attached parking garage. There are 202 units in this building, at least half are sold and no foreclosures, I’m told.  The new Omni is right next door. Seriously, folks, this would make a great urban second home and I should hold a contest to make you guess the dues but no, no one would ever get it: $422 a month. That’s what, $.36 a square foot? Did I do my math right?

 

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  • Candy it's great fun reading this item about the bldg where i used to live, but i'm pretty sure there've been many foreclosures there. it was apartments until 2005, then switched to purchase. (not too sure about that so-called "re-vamping".) the value from unit to unit is alllll over the place, and as a result, i've heard that trying to get financing is a major problem. i loved the building, and the units are wonderful, but the greedy owners really screwed things up

  • Candy it's great fun reading this item about the bldg where i used to live, but i'm pretty sure there've been many foreclosures there. it was apartments until 2005, then switched to purchase. (not too sure about that so-called "re-vamping".) the value from unit to unit is alllll over the place, and as a result, i've heard that trying to get financing is a major problem. i loved the building, and the units are wonderful, but the greedy owners really screwed things up

  • p.s. i like what these guys did in the kitchen, but if they're claiming they took it down to the studs, well that's pretty funny. that's how those units came.

  • p.s. i like what these guys did in the kitchen, but if they're claiming they took it down to the studs, well that's pretty funny. that's how those units came.

  • @TG: That is valuable information, and one reason why real estate blogs exist: to provide clarity and exchange stories about properties. Thanks for bringing this to light. Buyers, here's the info. I do hear it is hard to get financing in most condos because of variables in values.

    • Hi Candy, I bought in late 2005 and have lived in Soco Urban Lofts since Mar 2006. We have done extensive upgrades to the building over the years and its a fabulous place to live. As an active Realtor, most of all the units that were foreclosed upon have been sold and many that were open for lease have been rented. About 2-years ago there were approx 23 for sale out of 203 and 11 for lease. Now there are only like 3 for sale and 3 for lease. We spent $250K on new cooling tower, $120k for new fire control system, have upgraded the security cameras, internet and direc-tv backbones. We also got some new gym equipment and upgraded pool furniture along with doubling our grills on the pool deck. We are about to embark on a lobby redesign as well. Our HOA dues are lowest in the area $0.32/ft so try an beat that anywhere else. Great place to rent or buy so if you have anybody interested let me know!! warren@luxuryrealtytx.com

  • mm

    @TG: That is valuable information, and one reason why real estate blogs exist: to provide clarity and exchange stories about properties. Thanks for bringing this to light. Buyers, here's the info. I do hear it is hard to get financing in most condos because of variables in values.

    • Hi Candy, I bought in late 2005 and have lived in Soco Urban Lofts since Mar 2006. We have done extensive upgrades to the building over the years and its a fabulous place to live. As an active Realtor, most of all the units that were foreclosed upon have been sold and many that were open for lease have been rented. About 2-years ago there were approx 23 for sale out of 203 and 11 for lease. Now there are only like 3 for sale and 3 for lease. We spent $250K on new cooling tower, $120k for new fire control system, have upgraded the security cameras, internet and direc-tv backbones. We also got some new gym equipment and upgraded pool furniture along with doubling our grills on the pool deck. We are about to embark on a lobby redesign as well. Our HOA dues are lowest in the area $0.32/ft so try an beat that anywhere else. Great place to rent or buy so if you have anybody interested let me know!! warren@luxuryrealtytx.com