A live-work unit combines residential and commercial spaces, allowing owners to reside in the same building where they can pursue their business or artistic endeavors. Unlike traditional homes, these residences are completely flexible, with versatile floor plans. Most of these properties are located in former factories or commercial buildings that have been converted for residential use and are known for their timber beams, exposed pipes, brick walls, and floor-to-ceiling windows. An artist’s loft might just be a bedroom or other private space found directly above their working area, as is the case with a property currently for sale in a nondescript brick building in Ravenswood. Municipal zoning plays a significant role in determining whether these properties can exist or not. Chicago created B2-2 zoning to allow for more mixed-use development options. An ordinance permits commercial-zoned properties to be used as a live-work space without requiring an expensive and time-consuming zoning change.
1776 W Winnemac Ave APT 100, Chicago, $847,700
The former home and studio of the renowned sculptor Martin Puryear is now officially on the market. Located in a former tea factory in Chicago’s Ravenswood neighborhood, the five-bedroom, two-bathroom unit was designed by local architect Ken Schroeder. He founded the loft movement in the city and specializes in the adaptive reuse of old industrial buildings. The 4,000-square-foot, two-story interior features 17-foot-high ceilings, skylights, and a spacious workshop, making it an ideal working environment for any artist or creative person.
1776 W Winnemac Ave APT 303, Chicago, $675,000
Directly next door at the same address is another bright and open loft with 11-foot ceilings and large windows. The two-bedroom, two-bathroom walk-up penthouse is located in a 16-unit building created in the 1980s by artists — and no two units are alike, which is more than apparent when comparing it to Puryear’s condo. This particular property comes with a detached 700-square-foot studio, perfect for use as an office or art space. There is also a shared backyard where owners can have their own garden.
125 Elkenburg St UNIT 7, South Haven, MI, $825,000
In Michigan’s Harbor Country is a factory-turned-condo building located only a block from the lake. Originally built in 1916 for the Hamlin-Overton Company, it was used for pipe organ assembly, picture frame construction, and woodworking. With exposed brick walls and overhead ductwork, this 4,000-square-foot developer’s unit is perfect for anyone looking for some character and adaptability in their home. In addition to two bedrooms (with potential for a third) and three-and-half bathrooms,the property also features an atrium with sliding doors that open to a patio.
1830 S Canalport Ave, Chicago, $1,175,000
An entire multi-family building in Chicago’s East Pilsen is currently for sale. Previously owned by a local artist, it includes three duplex condos as well as the potential to create additional units and turn some of the spaces into an art gallery or live-work opportunities. All condos behind the historic storefront come with their own outdoor spaces, whether it’s a private deck or garden-level area. The property is close to other parts of the city, like Chinatown’s Ping Tom Memorial Park and the South Loop.
2804 N Lakewood Ave APT 208, Chicago, $1,299,000
On and off the market since last October, this unique penthouse loft, situated on the edge between Lake View and Lincoln Park in an old metal factory, has just had its asking price reduced by $50,000. (It’s still pretty expensive.) The 3,500-square-foot interior features three bedrooms, four full bathrooms, two modern kitchens, large laundry/storage room, and a sunroom. The property also includes the right to build a 3,000-square-foot rooftop deck (architectural plans are included with the sale).