A Mies Van Der Rohe Family Home Across from Lincoln Park: 2400 N. Lakeview

2400 n lakeview

This 3-bedroom at 2400 N. Lakeview in Lincoln Park just came on the market.

This is a Mies Van Der Rohe designed building built in 1963 with 264 units.

The listing for this unit says it has been fully gutted with new electric and plumbing. It also apparently has a new layout.

It has dark wide planked wood floors.

The kitchen and baths have modern finishes reflecting the Mies aesthetic.

The kitchen has white and wood modern cabinets with Miele and Thermador appliances and subway tiles.

It has central air and a washer/dryer in the unit.

There’s also parking but I can’t tell if it’s leased or included.

All three of the bedrooms are generously proportioned.

It has East, West and North exposures and overlooks Lincoln Park.

Is this unit a good alternative for those looking for a family home in Lincoln Park?

Tamar Kasey at Redfin has the listing. See the pictures here.

Unit #2906: 3 bedrooms, 2 baths, no square footage listed

  • Sold in February 2011 for $405,000
  • Currently listed for $645,000
  • Assessments of $1056 a month (includes a/c, doorman, cable, pool)
  • Taxes of $5899
  • Central Air
  • Washer/dryer in the unit
  • Bedroom #1: 12×16
  • Bedroom #2: 15×12
  • Bedroom #3: 16×10
  • Foyer: 17×9

 

38 Responses to “A Mies Van Der Rohe Family Home Across from Lincoln Park: 2400 N. Lakeview”

  1. The 3D walkthrough was pretty cool. I wish every listing had one of those. Would save me a lot of trips.

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  2. love it.

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  3. Nice unit (but shame the corner is a bedroom), in a nice, well-run building. I didn’t watch the 3D walkthrough…does it show the in-unit W/D? If not, I won’t believe there is one until I see it.

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  4. Very nice. I wonder how much the renovation cost.

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  5. “I wonder how much the renovation cost.”

    $240k of course!

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  6. This is my place, thanks for the kind words. To confirm, yes, there is a full-size W/D in the unit and building parking is leased. Being featured by CC also explains why my listing views skyrocketed 300% in the last 24 hours!! Ha.

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  7. best of luck in your sale, looks like a very nice place! you aren’t fleeing to the burbs are you?

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  8. Haha. No way! Moving into 2550.

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  9. Nice looking place. But why go through the trouble of gutting a unit only to sell four years later? I gutted mine in 2012 and realistically I may live in my house forever.

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  10. Ah, congrats, you must be doing quite well!

    HD-4 years is a very long time

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  11. Sonies, incomes are stagnant or something.

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  12. “HD-4 years is a very long time”

    Why bother buying? Just rent.

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  13. Too be fair Vlajos, I think 1%-ers are the only ones buying in 2550

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  14. “Why bother buying? Just rent.”

    645,000
    -405,000
    ———-
    +240,000

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  15. “Why bother buying? Just rent.”

    I’m lawyer-bad at math, but let me see. For about 2 and a half years rented a 2/2 in the building to the north of PDubbs’ swanky new digs) for around $2,600 (including $200/mo parking in the building south of PDubbs’). And then the unit owner said that he might be giving us a month’s notice at any time, so be ready. So, after 2 and a half years, we were left with (1) no equity and (2) the prospect of being told to get the hell out. So we purchased a 2/2.5, paid around $2,800/mo (10% down on a 5/1), and had a place to which we could make changes to our own taste (maybe $12k total), with no prospect of being asked to get out. After 3 years, we moved on, and basically “doubled our down payment,” after accounting for transaction costs and what we put into the place, and enjoyed meaningful tax deductions.

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  16. Good point sonies.

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  17. How much does one need to make to be in the 1%er league?

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  18. In Illinois, looks like $424k a year does it

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  19. “In Illinois, looks like $424k a year does it”

    Really need city of chicago number. Also, I think of 1 percenter as really a wealth measure.

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  20. January job numbers were released today. Chicago Metro created a healthy 57K new jobs yoy. And total employment was up 87K yoy.

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  21. “I think of 1 percenter as really a wealth measure.”

    Yeah, you, me, and maybe some third guy somewhere.

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  22. Well either way, you ain’t top 2-10% and buying in 2550 unless they have studios or something. Doubt someone who is going from a 3/2 is doing that.

    Either way, there’s about a 99 or so different ways you can talk about the 1%, the best way to talk about it is whatever fits your personal political agenda the best.

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  23. “the best way to talk about it is whatever fits your personal political agenda the best”

    that is, to never have a meeting of the minds about the actual discussion, but just argue over terminology. Like we do here whenever “the middle class” comes up.

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  24. yep! Tis why “occupy wall street” never really accomplished anything… and well… the 99ers won’t ever get anything done anyway… lol

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  25. “you ain’t top 2-10% and buying in 2550”

    Cheapest non-1/1 currently for sale is 2/2 at $949; cheapest 3/2 is $1.2m.

    [not trying to speculate on pdubbs income or assets…]

    ~25% ($300k) down with the carry-over equity, and, with HOA and taxes, at a front-end 28% ratio, it’s “affordable” at about $250k/year income. Not that that is anywhere close to conservative enough for HD, but that’s not the real standard.

    For a (income-based) IL 1%-er, it’d be about 15% of gross for PITA. That, of course, assumes into existence $300k of existing equity or otherwise available DP cash.

    So, perhaps not smart for a non-1%er, but not unobtainable for the aggressive/confident/gambling 5%-er.

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  26. Yeah I looked up prices after I posted. Not sure who would be a purchaser of a 1/1 who makes that kind of scratch and not have it be a second home or pied a terre but I’m sure there is a couple of folks that use a 1/1 there as their primary residence.

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  27. 645,000
    -405,000
    ———-
    +240,000

    Come one, you’re better at math than that. How much was the cost of the renovation? Subtract that from the profit. Then subtract interest you paid on the $405,000 principal balance; then subtract HOA fees….and then the unit actually has to sell – and it may not sell anywhere near $645,000…..we’ll ask the owner the net profit and whether or not it was worth it after it actually sells.

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  28. What do you think a 1%’er household in the GZ makes annually? And I mean GZ proper, not some borderline GZ neighborhood like Logan Square.

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  29. Dave, check out this site: https://www.richblockspoorblocks.com/

    It’s interesting to see that even the richest areas aren’t filled with 1%’ers.

    It’s also interesting that in Chicago even lower middle class people can afford the richest neighborhoods (as long as they don’t mind living in a studio): http://www.estately.com/listings/info/850-north-dewitt-place–62

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  30. HD: Happy to elaborate once a deal is done. Cheers.

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  31. “we’ll ask the owner the net profit and whether or not it was worth it after it actually sells.”

    Worth it? I hope you are kidding. What do you think it would have cost to RENT this place for 4 years? Even if the net profit was ZERO he was way better off than renting.

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  32. Please tell me this place is staged. Nobody could actually live the cliché the decoration suggests. Hope the floors aren’t from Lumber Liquidators. Great views.

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  33. Here’s another renovated Lincoln Park high rise unit that just came on the market. It’s #14G at 2740 N. Pine Grove. It’s only a 1/1 and is listed at $224,900 but it went under contract almost immediately.

    http://www.coldwellbankeronline.com/ID/4003348

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  34. I saw this unit last weekend and it was done exceptionally well. I won’t be moving forward with an offer but here are a few comments.

    * Washer/Dryer are definitely in unit but VERY small in stature.
    * Agent knows next to nothing about the unit/building. May want to fix that seller.
    * The rehab appears to be of high quality in fit and finish
    * More closet space than I would expect
    * Unit is 1 floor from penthouse level
    * Rooftop outdoor patio common area looks new and done very nicely, although quite small for building size. No grills so you’re stuck doing all your cooking indoors.
    * View from rooftop is OUTSTANDING and makes for a great place to watch lakefront shows.

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  35. love this unit but $1k in assessments and no parking….can’t stomach that.

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  36. One month later, this unit is still available.

    Still listed at $645,000.

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  37. Sold: $625k (all cash, no contingencies)
    Paid: $395k (got a $10k credit from seller)
    Renovations: ~$115k

    Profit after fees and commissions: $78k

    Approx. Int./HOA/Taxes: $2,500/mo

    So in the end, it cost me ~$825/mo to live here for 4 years. I think that is a pretty good deal. :)

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  38. “So in the end, it cost me ~$825/mo to live here for 4 years. I think that is a pretty good deal. ”

    Congrats. Well done.

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