This Pre-War 3-Bedroom Overlooking Lincoln Park Is Still Available: 2130 N. Lincoln Park West
We last chattered about this 3-bedroom vintage unit at 2130 N. Lincoln Park West in east Lincoln Park in March 2012.
See our prior chatter here.
Most of you thought it was a beautiful apartment even if the layout was not to your liking. Some of you thought this might sell in the $600,000s and others thought in the mid- $700,000s.
If you recall, it has nearly all the features buyers look for, but can rarely find, in a vintage unit.
It has a washer/dryer in the unit and attached heated garage parking. The one amenity it is missing is central air.
The unit even has a private elevator entry and a private 660 square foot terrace, which is unique for these pre-war buildings along the park.
Built in 1927, the unit has a 38 foot barrel vaulted gallery and oak floors.
The listing says the kitchen is 3 years old. It has white cabinets, granite counter tops and stainless steel appliances.
The listing also says the bathrooms are “new.”
Unit #3S, one floor above, was also recently on the market. It had the same layout but no outdoor terrace.
It just sold on June 20, 2012 for $750,000.
Will this unit sell for the same?
Jennifer Lea at Dream Town still has the listing. See the pictures, the virtual tour and the floorplan here.
Unit #2S: 3 bedrooms, 3 baths, 2400 square feet
- Sold in February 2000 for $480,000
- Originally listed in January 2012 for $895,000
- Reduced
- Was listed in March 2012 at $849,500
- Reduced in April 2012 to $825,000
- Currently still listed at $825,000
- Assessments of $1443 a month (includes heat, parking, cable)
- Taxes of $10640
- No central air- window units only
- Washer/Dryer in the unit
- Garage parking included
- 600 square foot private terrace
- Bedroom #1: 16×14
- Bedroom #2: 16×11
- Bedroom #3: 10×10
- Gallery: 38×7
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What a beautiful vintage condo. The main disappointment is that it’s on the second floor, which would be a big issue for me – because if I buy in a high-rise, I want views – but probably not for a lot of people. The monthly fees seem very reasonable for a building like this, especially considering they include parking.
I have no idea if the price is right, but the fact that a comparable went for under 800 means this one will probably have to go lower, even with the outdoor terrace. I just can’t imagine using it. There would be limited sun thanks to the surrounding buildings, and you’d feel like a bug in a magnifying glass with all those windows staring down at you.
Thumbs up for including a nice pdf floor plan, but wow, that is a strange layout.
Looks like 16-S is on the market as well. They’re asking $100 K more. To me, the view would be worth it. However, the listing has no photos, which raises my eyebrows.
http://www.urbanrealestate.com/property/2130-N-Lincoln-Park-West-Unit-16-S-CHICAGO-IL-60614-4KJZ363L4A6SC.html
“you’d feel like a bug in a magnifying glass with all those windows staring down at you”
That terrace is just crying out for some super bizarre / inappropriate behavior to scandalize the neighbors. Like a naked yoga class or something.
I’ll basically affirm my sentiments from the prior chatter:
“The unit directly above, #3S, just hit the market at $779k. It doesn’t have a huge private terrace like #2S (which is indeed a rare thing for a LPW/Lakeview Ave building), and the ‘bedroom’ off of the living room is used as a family/t.v. room, but it’s overall a nicer looking unit. The third floor of the building has beautiful, arched windows in front, the kitchen in #3S looks nicer, and it’s simply one floor higher, which makes for a nicer view of the park/trees and reduced noise.
As I said above, these half-floor ’3 bed’ units in this building are well-suited (long term) to one child families. And #3S really drives that fact home, as these places, with their lovely gallery halls, shouldn’t have a t.v. in the main living room, but should instead place it in a French-doored room off of the living room, as #3S has done. And having purchased it for $660k four years ago, I’d bet one could close #3S for $700k, tops. Has to have #2S very, very concerned.”
Congrats to both the sellers and buyers of #3S. I’m a little bit surprised that it closed at so close to the ask, but all things considered, it’s pretty much impossible to find a true comp for #3S for less than $750k. Anything even close to a comp, unit-wise, is going to be a co-op, which means higher fees and a much larger down payment. Some one-kid family or empty nesters now have a lovely place.
This is the kind of place my wife and I are thinking about for once the kids are grown up and paid for. In other words – looking 10 years down the road.
If 3S went for $750k, I doubt the terrace is worth $75k. I would bet someone that didn’t see 3S which anonny says was nicer will be willing to pay $775k or so for this unit with the terrace, but I think it won’t go higher meaning this probably needs a price cut to $799k to attract a buyer.
The assessments are extremely reasonable for a vintage unit this size, with a large outdoor space of its own, no less.
But I doubt it will get the asking price, given what comparable units are selling for. $750K feels about right.
Brady,
Not sure what you see about the layout that’s strange. Indeed, this sort of layout is quite typical for vintage high-rise apartment buildings built in the 1920s. I’ve been in an apartment at the 16-story 415 W. Aldine, and the 3 BR layout is basically the same as this one (a much cheaper building, too. A similar unit there would go for around $300K).
Sold in February 2000 for $480,000
enough said. what did they gut rehab this place? i dont think so
Wonder if the 3s buyer also made an offer on 2s or if they just preferred the unit they purchased.
Everybody is complaining the $825K price is too high but just remember that everyone offers less than the asking price and is met somewhere in between. A 5% price reduction puts it at $784.000 which is a totally reasonable price for this place.
Artlover, I think it is a more psychological price point. People will say $800k is my absolute top limit and therefor not look at a place listed at $825 or even $805 even though they probably should. If it were reduced to $799k I bet it would garner more attention.
After the past few days of insane heat, I would NEVER consider an house/condo without central AC.
Danny, would you consider a place that you can install a/c?
vlajos… I would consider a SFH where one could install a central AC utilizing existing ductwork.
I don’t think it would be possible for a vintage highrise unit like this one.
How about a sfh where you can install space pak?
The assessments are “reasonable” until capital improvements are needed.