Since this blog launched in September 2011, we've seen sales of the coop homes in Lafayette Park designed by Mies van der Rohe transformed. They used to languish on the market, but these days they get scooped up after multiple bids and a ton of attention. More importantly, they are selling for higher and higher prices. But don't take our word for it. We have numbers.
Keep in mind that each of these units are the same size, roughly 1,400 to 1,500 square feet. Certain units have more desirable views and renovations, but they all have three bedrooms, one full bathroom, and one half bathroom.
Sales in 2011:
4/25 Unit 1416 Joliet Place / Ask: $82 K / Sold Price: $79 K
8/25 Unit 1409 Joliet Place / Ask: $79 K / Sold Price: $69 K
Sales in 2012
2/10 Unit 1369 Nicolet Place / Ask: $85 K / Sold Price: $70 K
5/11 Unit 1308 Joliet Place / Ask: $92.5 K / Sold Price: $87 K
6/03 Unit 1300 Joliet Place / Ask: $118 K / Sold Price: $112.5 K
7/28 Unit 1318 Joliet Place / Ask: $89.9 K / Sold Price: $80 K
7/31 Unit 1340 Nicolet Place / Ask: $85 K / Sold Price: $80 K
8/13 Unit 1335 Joliet Place / Ask: $95 K / Sold Price: $94 K
8/15 Unit 1402 Joliet Place / Ask: $100 K / Sold Price: $92.7 K
9/12 Unit 1346 Joliet Place / Ask: $84.9 K / Sold Price: $95 K
10/06 Unit 1313 Joliet Place / Ask: $95 K / Sold Price: $90 K
11/30 Unit 1318 Nicolet Place / Ask: $98 K / Sold Price: $89 K
12/13 Unit 1311 Nicolet Place / Ask: $129.9 K / Sold Price: $125 K
Sales in 2013:
2/11 Unit 1416 Nicolet Place / Ask: $134 K / Sold Price: $129 K
Pending Sale: Unit 1351 Joliet Place / Ask: $139.9 K / Sold Price: $??? K
On the Market: Unit 1417 Nicolet Place / Ask $119.9 K
There was also one sale for the courtyard units, which come with a private backyard (a feature the other coop homes don't have), but are smaller. This one was 1,250 sf.
7/20 Unit 1322 Nicolet (Courtyard) / Ask: $159.9 K / Sold Price: $150 K
Our realtor friend notes that he remembers a time, 2004, when there were 13 units on the market, indicating a huge missed opportunity on the part of all you living here back then (for shame!). Thanks to a ton of recent press for the Mies units coupled with the design world's ongoing love affair with Mid-Century modernism, perhaps we'll be kicking ourselves again in another couple years for failing to invest during cheap ol' days of 2013.
· Perhaps the Most Lovely Mies Van Der Rohe-Designed Coop To Hit The Market In Years [Curbed Detroit]
· Mies Detroit [Official]
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