Looking for “New” on Lincoln Park? A 1-Bedroom at 1550 N. Lake Shore Drive

1550 n lake shore drive

This 1-bedroom at 1550 N. Lake Shore Drive in the Gold Coast came on the market in November 2014.

But it had previously sold just two months before, in September.

It has come back on the market as “brand new.”

There are new dark hardwood floors.

The bathroom has been renovated.

There’s also a completely new, and open, kitchen with glass tile, quartz counter tops, white cabinets and stainless steel appliances.

The unit doesn’t have a washer/dryer or central air. There is coin laundry in the building and wall unit air conditioning.

There is also leased parking in the building.

But the building is on Lake Shore Drive with Lincoln Park across the street.

This unit has south and east views.

Originally listed at $285,000, it has been reduced to $282,500.

Will this rehab get its price?

Karen Neal at Kale Realty has the listing. See the pictures here.

Unit #19D: 1 bedroom, 1 bath, 800 square feet

  • Sold in February 1989 (price not listed)
  • Sold in September 2014 for $181,000
  • Originally listed in November 2014 for $285,000
  • Reduced
  • Currently listed at $282,500
  • Assessments of $593 a month (includes heat, doorman, cable)
  • Taxes of $420 (senior exemption)
  • Coin laundry
  • Wall units for air conditioning
  • Leased garage parking
  • Bedroom: 15×14

17 Responses to “Looking for “New” on Lincoln Park? A 1-Bedroom at 1550 N. Lake Shore Drive”

  1. I’d like to see this listing’s narrative style catch on.

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    Rating: +11 (from 13 votes)
  2. eh, its ok but there is just one too many CAPS FOR EMPHASIS in there to take it SERIOUSLY

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    Rating: +1 (from 5 votes)
  3. Who are these friends hanging out at your peninsula while you’ve been at work? And how are they seeing the closets from the peninsula?

    Also, what is the “gold coast life”? And where, precisely, does it start?

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    Rating: -1 (from 3 votes)
  4. gangam style roughly translates to “gold coast life”

    figure it out anon…

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    Rating: +4 (from 4 votes)
  5. “gangam style roughly translates to “gold coast life””

    Where are the horses?

    And I need to know where the invisible fence is, so I don’t get shocked accidentally trying to cross into the promised land.

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    Rating: 0 (from 0 votes)
  6. “Nothing between you and your day at the LAKEFRONT”

    * Except for 8 lanes of Lakeshore Dr. traffic… SPLAT!

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    Rating: +6 (from 6 votes)
  7. “I’d like to see this listing’s narrative style catch on.”

    I think what you mean is:

    You’ve looked through ALL the listings and you’re BORED. So you WANT a listing DESCRIPTION that’s written in the SECOND PERSON.

    “Who are these friends hanging out at your peninsula while you’ve been at work? And how are they seeing the closets from the peninsula?”

    Also, how do they “notice the FULL REHAB”? Were they friends with the prior owner, too?

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    Rating: +4 (from 4 votes)
  8. Nicely done rehab! This would make a great weekender or vacation home. Great location!

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    Rating: -5 (from 11 votes)
  9. This is what I call polishing a turd, although I can’t blame the owners. Views aside, this is horribly overpriced. Doesn’t matter how nice it looks inside, it’s still a 1 bedroom in one of the many soviet-russia prison buildings along LSD with bloated assessments (though not as bad as some buildings), an inevitable tax reassessment, and no modern amenities like in-unit laundry or central air. There are much better places for your money. $280k and then you have to pay for laundry…think about that.

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    Rating: +16 (from 22 votes)
  10. Someone transferring from out of state will probably fall for it though, Elliot. They’ll think, “This is so cheap and big compared to NYC/SF/wherever!”

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    Rating: +11 (from 11 votes)
  11. “an inevitable tax reassessment”

    No reassessment, just loss of the senior exemption. Taxes w/o the exemption would have been about $3700.

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    Rating: +5 (from 5 votes)
  12. “Someone transferring from out of state will probably fall for it though, Elliot.”

    Could be. These people think they have to “live near the lake” and then, if they stay, end up west of Ashland after 5 years. I know one couple who moved here from the East Coast, moved to “Streeterville” because it’s downtown etc. they loved it, but after a year it wore off and they couldn’t wait to get out of the Midwest, Chicago being completely isolated and the lake being essentially just a big pond, and Streeterville is boring after about 2-3 months.

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    Rating: 0 (from 10 votes)
  13. “I know one couple who moved here from the East Coast, moved to ‘Streeterville’ because it’s downtown etc. they loved it, but after a year it wore off and they couldn’t wait to get out of the Midwest, Chicago being completely isolated and the lake being essentially just a big pond, and Streeterville is boring after about 2-3 months”

    Hard to argue with wanting to leave Streeterville in short order. Not so sure about the rest. Did that couple move to Chi from NYC, or the East Coast? Because the two-mile or so wide strip directly on the lake running from the south loop to Evanston (and especially from Mil Park up through LP) has more going for it that the greater “East Coast,” NYC excluded.

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    Rating: +4 (from 8 votes)
  14. Wow, never realized what a bunch of pretentious douche’s from the “East coast” moved to Chicago. What, couldn’t get a job on the boardwalk, or walking dogs in the Park? This little blog/website jumped the shark in 2012, now it’s nothing more than life-time renters commenting on areas of the city they could never afford to live in. Elliot is a perfect example of the bitter loser’s with no local knowledge who can’t afford 3% down on a $300k condo. Using “LSD” for Lake Shore Drive reeks of a bad 70’s song. Hey Elliot, do you also refer to Chicago as “Chi-town” or “the windy?”

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    Rating: -12 (from 22 votes)
  15. “I know one couple who moved here from the East Coast, moved to ‘Streeterville’ because it’s downtown etc. they loved it, but after a year it wore off and they couldn’t wait to get out of the Midwest, Chicago being completely isolated and the lake being essentially just a big pond, and Streeterville is boring after about 2-3 months”

    What part of the “East Coast”? New York?

    Because EVERY New Yorker thinks that. NO city or state lives up to New York City in their minds. When I lived in San Francisco, the New Yorkers all hated it. They thought it was boring and dull. They always got the New York Times delivered and harped constantly about New York restaurants, theater etc. And it IS very different. New York is the city that never sleeps. San Francisco IS asleep by like 10 pm.

    I actually did feel a little badly for those who ended up in Silicon Valley. I don’t know what they were thinking. Maybe they thought it was this glamorous place. But it’s strip malls and Walmart. It’s the suburbs with some palm trees.

    So I would not be surprised in the least that they wouldn’t like Chicago either. If you want the New York social scene, which IS amazing, then you have to stay in New York.

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    Rating: +2 (from 2 votes)
  16. “This little blog/website jumped the shark in 2012, now it’s nothing more than life-time renters commenting on areas of the city they could never afford to live in.”

    So you’ve been reading it since 2012 then?

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    Rating: +12 (from 12 votes)
  17. Caprice, your mind has jumped the shark. Being able to afford 3% on a 300k home is irrelevant when no one is going to pay 300k on that home to begin with. Your immature attack has no foundation, and I don’t know why you feel the need to project your own bitterness and insecurity on me for arguing how this unit is overpriced, and for referring to Lakeshore Drive as “LSD” as many locals do, something you would know if you had any business on a Chicago real estate blog. “No local knowledge”? I probably live closer to this place than you, unless you’re the owner of this unit, which, in that case, good luck fooling someone to pay that much for it.
    “Do you also refer to Chicago as “Chi-town” or “the windy?” Should I refer to you as a troll, or just a delusional scumbag? How about both?

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    Rating: +12 (from 16 votes)

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