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done deal

Christina Hagerty, Re/Max Realty Professionals

1117 1 St. SW., No. 107, Calgary

Asking price: $529,900 (January, 2022)

Selling price: $500,000 (February, 2022)

Taxes: $3,618 (2021)

Days on the market: 30

Buyers’ agent: Kamil Lalji, CIR Realty

The action

Agent Kamil Lalji spent two years combing through dozens of inner-city developments for a unique suite that would retain long-term value for a client tired of renting. After a disastrous experience trying to purchase a unit through a builder last year, acquiring this one-bedroom loft near the Calgary Tower was a smoother process that just required a little negotiation over the final price.

“At the beginning, there wasn’t a ton of inventory available, but [my client] also wasn’t sold on anything,” Mr. Lalji said.

“This one is $500,000 and it’s a condo, but because of its rarity, someone in the future might pick it up for at least that much or more if [my client] does some work to it.”

What they got

The original wood-beam ceilings highlight the kitchen and dining area.Kamil Lalji, CIR Realty

These modern lofts were created from the skeleton of a 1911 department store. This two-storey unit has 1,165 square feet of living space and a patio roughly 200 square feet in size.

The original wood-beam ceilings highlight the kitchen and dining area. The living room has exposed brick walls, 18-foot ceilings and a gas fireplace.

Upstairs, there is an open space for the bedroom as well as a laundry room and the larger of the suite’s two bathrooms.

The unit comes with a storage locker and parking. Monthly fees of $775 cover water, hydro, and heating costs.

The agent’s take

“All the lofts are unique and different, but this one has the large ground floor patio, which is nice,” Mr. Lalji said.

“The beams in there are really cool, and the metal detailing for some of the structure is amazing because you never see this in construction nowadays, it’d be too expensive to put that kind of stuff in.”

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