I think the cainets are nice and IMO a high gloss white finish might work with a saopstone counter . IMO gray cabinets are maybe a bit too industrial. I do think you need to improve the lighting make sure what ever you do it is all LEDs in 4000K for sure.I think the spot you have the TV is very limiting to size of TV and the TV will be too high.Are you renting this furnished ?

Rental - monthly or nightly? I manage vacation properties and have managed monthly rentals too. I think I'd leave the cabinets alone for now, change out the appliances and then upgrade the furniture for more comfortable places to sit, dine and lounge. That futon sofa looks more appropriate for a porch than a living area. Ditch the hide rug for a large area rug to warm up the place a bit. Maybe the hide can go to the bedroom. Those upgrades should add some new colors, so then reconsider the cabinetry. Gray is on the way out, and white would be too stark, IMO. Have you upgraded your lighting to 4000K LEDs? That would be a fist step before dealing with any color choices here. You need good, natural feeling lighting to make the right selections.

@Patricia Colwell Consulting thank you for the response! To clarify - this is not rented out furnished - these are old photos that I added to show the full kitchen / living combo.

On the cabinets, we wouldn't replace the actual boxes, just paint and maybe new hardware. Do you think white on both top and bottom? There are a lot of cabinets in one straight line - so I worried high gloss / bright white alone may be too stark. I like the idea of soapstone counters though. For the lighting, do you mean replace over the island?

@decoenthusiaste its actually rented out on an annual (or longer) basis. It is not rented out furnished - I added the living room photos because the kitchen opens up to this space. We may try to sell in the next year or two, and would hire a stager for furnishings, but considering what needs to be done to the kitchen. Does that change your suggestions to deal with cabinetry later / not at all?

Thanks for the lighting suggestions - I had not considered replacing, but will now that both comments this AM reference the current lighting.

How about a version of black/white industrial? Perhaps a taupe/khaki for cabinets with stainless steel top on the island, shiny black (to reflect the light) on other counters.

Fantastic, what a great space created to spend time in.

Whatever you do should be with the local market in mind since your long term goal is to sell. If I were you I would take the time to do some realty tours of other similar properties for sale in downtown Chicago. That may give you an idea of what people are looking for and what your competition could be later on. And grill the realtors representing the properties to get input for yours. Pre-covid and riots, I would have assumed this could be a high end sale for you but don't know what's happening there now. Realtors would be more helpful and putting your eyes on actual warehouse type realty offerings will inspire and motivate you to either sell as is or put some money into it.

Look up ROI for kitchen renovations. Do you really want to spend $50k to up your price by $25k and eat the other $25k?

Talk to local realtors and then do your own studies. Realtor's don't always have the best advice - they know the market, but ask specifically how much more you will get if your kitchen is updated. They evaluate the price of your home looking at the MLS comps, based mostly on neighborhood/school district, square footage and #Bedrooms #Bathrooms. Rarely does a realtor even consider general condition when pulling comps, but they should - it is a huge factor.

They will get the same comps for the house either way. You have to look at the homes that sold. Compare those with a newer, updated kitchen and those without and see just how much additional money the kitchen renovation returned.

https://www.daveramsey.com/blog/how-will-a-kitchen-renovation-affect-value

Unless the cabinets are falling apart, I would leave them be. Get modern looking hardware, including the faucet, to help them match the space/loft aesthetic more. Replace countertops with an inexpensive solid surface or nice laminate, perhaps white or a deeper gray. Do a subway tile and it will look spiffy.

Possible to get a pendant light over the island?