2-Bedroom Lincoln Park Duplex With Rare 600 Sq. Ft. Terrace Reduces $25K: 2100 N. Lincoln Park West
We last chattered about this 2-bedroom with a private terrace in The Pierre at 2100 N. Lincoln Park West in Lincoln Park in June 2012.
See our prior chatter here.
Back then, no one really had an opinion on the price but several of you commented that the terrace didn’t seem that private (with the other units being able to look down onto it.)
If you remember, it has a spiral staircase to the second floor bedrooms.
The kitchen has maple cabinets, granite counter tops and black appliances.
The unit has central air and in-unit washer/dryer. There is rental parking in the building.
The listing says it has new windows.
The Pierre was built in 1919 and is a full service building with a rooftop pool and 24-hour doorman.
This unit has been on and off the market since August 2007, will this unit finally sell in 2012?
Scott Berg at Berg Properties has the listing. It is realtor owned. See the pictures here.
Unit #3BN: 2 bedrooms, 2.5 baths, duplex, no square footage listed
- Sold in March 1988 for $163,000
- Sold in March 1999 for $230,000
- Originally lisetd in August 2007 (I couldn’t find a price)
- On and off the market
- Was listed in November 2011 for $525,000
- Reduced
- Was listed in June 2012 at $495,000
- Reduced
- Currently listed at $475,000
- Assessments of $954 a month (includes cable, doorman, gas, rooftop pool)
- Taxes of $4129
- Central Air
- Washer/Dryer in the unit
- Rental parking in the building
- Bedroom #1: 22×19 (second floor)
- Bedroom #2: 19×15 (second floor)
- 600 square foot terrace
eh, ok terrace, unit needs gutting
“unit needs gutting”
and needs windows on the main level
I’m afraid that this one’s not going anywhere soon. As I said in the prior Chatter, if they spruce the joint up, they might get $425k for it (probably closer to $400k). If they don’t do anything, they’ll be lucky to see it go for $375k. It’s going to take a buyer who’s especially thrilled about (i) the location, (ii) the *idea* of the terrace (i.e., it’s a big, private outdoor space, the many downsides of which might not be readily apparent), (iii) having a doorman, and (iv) having a pool.
Hmm. If the windows that are located directly above the terrace are the bedroom windows for this unit, I wonder how hard it would be to get approval to enclose most of the terrace. Make the ceiling as high as possible (up to a foot or so below the bedroom windows above), and basically make the walls all windows. That would make for a big, bright L-shaped living and dining area.
What would that sort of thing cost?
“What would that sort of thing cost?”
first is getting board approval (i.e. favor and cash bribes i would think)
next HUGE cost is that it would be structural and that involve a architect, structural engineer, and from this building UNION labor.
remember this is a 400k place and there is a reason they only put in a spiral staircase.
as its been said before if it was cheap and possible it would already have been done.
Redfin now shows 1600sqft. As implied, most buyers of this unit want move in ready and don’t want to deal with a renovation, otherwise everything about it looks good. I say low 4’s.
The HOA is something that I just can’t do. Not worth it. Buy two blocks west in a walk-up and have an HOA of $150-$200. Join Equinox and go to the best pool in town. Hire a local errand boy or maid for your “doorman” if you’d like. Still better than HOA.
Hi rise living just doesn’t appeal to me. I used to live in NYC and even there I lived in a walk-up.
“Buy two blocks west in a walk-up and have an HOA of $150-$200.”
1600 sq ft places in walk-ups two blocks west of here with monthly fees of under $200?
“Join Equinox and go to the best pool in town.”
I imagine it is nice. It’s also involves a car or bus ride from the subject property. The rooftop pool at this place is for doing laps.
No one who pays attention to recent sales in this building would pay much north of $300K for this unit. It’s difficult to find added value in a duplex arrangement, although it’s nice to have the extra half bath. And how much is that terrace really worth. The low floor is a definite downside. On the other hand, the building has many upscale amenities beyond the pool and the doorman that are a reasonable tradeoff for the high association fees.
In addition to my earlier comments, note that this terrace faces west and therefore has a lovely view over the alley to ward ugly Clark Street buildings.