$1 Million for This New Construction 3-Bedroom Condo at Diversey and Lincoln in Lakeview: 2800 N. Lincoln

2800 n lincoln

This 3-bedroom penthouse at 2800 N. Lincoln in Lakeview recently came on the market.

This is a new construction building by Noah Properties on what used to be a parking lot.

It’s on the corner of the 3 street intersection at Diversey, Racine and Lincoln in South Lakeview. Across the street is a Gino’s East pizzeria.

This is a 7 unit building, with 6 residential units and 1 commercial unit on the first floor, along with an indoor garage.

Each unit is a single floor 3-bedroom, 2 bath unit.

There’s an elevator with private entry into each unit.

This penthouse is 2100 square feet and also has a private rooftop deck with a wet bar and beverage cooler with 360 degree views of the city as the building just clears the buildings to the south.

The listing also says you can take the elevator directly from the garage up to the rooftop deck. I’m assuming that means there is no interior staircase to get up there. You have to hop into the elevator to get to the rooftop deck.

The developer has built a model unit, which has dark wide plank wood floors throughout along with floor to ceiling windows.

The kitchen has white modern cabinets and stone counter tops.

The master bath has a steam shower and body sprays along with heated floors.

The unit has a laundry room and a covered front terrace, measuring 19×13.

3 out of the 6 units are already under contract:

  • #4N: $1,009,900 under contract
  • #4S: $999,900
  • #3N: $959,900
  • #3S: $949,900
  • #2N: $909,900 under contract
  • #2S: $899,900 under contract

This building is in the Agassiz Elementary school district.

Is Lakeview now a neighborhood where only luxury housing will be built going forward?

And who is the target buyer of these units?

Melissa Govedarica at Sergio & Banks has the listing. See the pictures here.

Unit #4S: 3 bedrooms, 2 baths, 2100 square feet, penthouse

  • New construction
  • Currently listed for $999,900 (includes garage parking)
  • Assessments aren’t listed
  • Taxes are “new”
  • Bedroom #1: 14×13
  • Bedroom #2: 12×11
  • Bedroom #3: 13×12
  • Laundry room: 8×6
  • Utility room: 4×3
  • Terrace: 19×13
  • Balcony off master bedroom: 12×5
  • Rooftop deck: 35×17

 

 

30 Responses to “$1 Million for This New Construction 3-Bedroom Condo at Diversey and Lincoln in Lakeview: 2800 N. Lincoln”

  1. This is a 7 unit building, with 6 residential units and 1 commercial unit on the first floor, along with an indoor garage.
    Each unit is a single floor 3-bedroom, 2 bath unit.

    In a 4-story building?

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  2. I think they just mean each residential unit is a simplex (2X per floor), not that there is only one unit per floor, if that’s what you’re getting at.

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  3. For $1 million they couldn’t properly measure the curtain lengths?

    VA:F [1.9.22_1171]
    Rating: 0 (from 6 votes)
  4. I remember driving by this intersection about 10 years ago and seeing signs for a different building that never go built. Given that it’s an awkward site and busy, ugly intersection, I was surprised when I drove by and saw construction underway for a high-end building. Far from the Lake, the El, and the shops/restaurants on Southport.

    VA:F [1.9.22_1171]
    Rating: -1 (from 11 votes)
  5. Callebaut on November 6th, 2017 at 9:06 am
    Far from the Lake, the El, and the shops/restaurants on Southport.

    It’s 0.3 miles to the Diversey brown line. 6 minute walk according to googlemaps which means the average person could walk it in 4 minutes. And remember the closer to the lake you are the farther you are from the red/brown lines.

    VA:F [1.9.22_1171]
    Rating: +7 (from 13 votes)
  6. “For $1 million they couldn’t properly measure the curtain lengths?”

    a very common way to install curtains is to have them “puddle” on the floor such as this. they didn’t do this in error.

    VA:F [1.9.22_1171]
    Rating: +8 (from 12 votes)
  7. I didn’t realize that it was that close to the Brown Line. I’m always in my car when I’m in that area. Still, a dreary corner to spend a $1 million. I guess its appeal depends on how much you want a three bedroom in Lakeview and want to avoid high rises and stairs.

    VA:F [1.9.22_1171]
    Rating: 0 (from 4 votes)
  8. The Wallaby Station building. Condos for the shorter man!

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  9. ” poor taste in cultural misappropriation?”

    And Diversey is often a faster walk than drive east of the river, especially the 2 blocks from Racine to Sheffield.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  10. Oh wow they actually constructed this building finally, I used to live in the area like a decade ago and there was always plans for this lot… this building is hideous

    I wouldn’t want to live on this block either for a million bucks… two busy ass streets and a gas station yeah no

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  11. I like the units, but I can’t get over paying $1 million to live at a busy intersection. No thanks.

    VA:F [1.9.22_1171]
    Rating: +5 (from 5 votes)
  12. JAN TERRI GIVES 2 THUMBS WAY DOWN.
    WAY TOO MUCH NOIZE 24/7 FOR BAND PRACTICE.
    GO PACKERS LOLZ!!!!!!!

    VA:F [1.9.22_1171]
    Rating: 0 (from 12 votes)
  13. Where do you find these properties, Sabrina? This location is awful. Who would want to live at this intersection?

    VA:F [1.9.22_1171]
    Rating: -4 (from 8 votes)
  14. There better be $400,000 cash buried somewhere in the closet for this price.

    VA:F [1.9.22_1171]
    Rating: +2 (from 8 votes)
  15. I think it is a good question as to who this type of property appeals to.

    It’s too small for anyone in this price range with more than one kid (and for most who have one kid). That’s ignoring what I think is a pretty big location issue for people with young kids.

    It’s too expensive for the vast majority of 20 somethings who live in the area.

    I guess it has to be targeted at the few late 20 / early 30 somethings pre-kids who can afford this and would choose to live here over West Loop, RN, Fulton Market, etc.

    You just aren’t getting much if any of a discount over buying “this place” in one of the above areas. Maybe there are enough people who want to live in LP/LV in the above cohort to make it work.

    VA:F [1.9.22_1171]
    Rating: +5 (from 7 votes)
  16. “Assessments aren’t listed”

    Yes, they are $322 a month.

    I love the curtain trick, just little drapes that don’t close all the way.

    I think the place is very nice. But No I would never spend a million here. And especially not in the Agassiz school district. Another CPS nutty principal.

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  17. “a very common way to install curtains is to have them “puddle” on the floor such as this. they didn’t do this in error.”

    I agree this is true, and it’s a luxe look when done correctly and intentionally and in the right setting. However I disagree that this was intentional here. Puddling luxurious fabric is one thing. Trousers that are 2″ too long is another.

    Chatter here suggests the purchaser of a million dollar condo in lakeview is concerned about walking to an El stop. I would be willing to bet that the buyer has been on the El in the last year exactly 0.8 times.

    As for the more interesting question, IMO, who’s the target? People who want a “stylish” show-off-y home but can’t afford a 2.0M SFH in this area. (I think 1.0M gets you a pretty boring cracker box SFH if you were gonna go that route). With this, you get some of the show but not the leap to 2.0M. So, DINKs, a double income Chad/Trixie duo.. I think the audience is there – as evidenced by the units under contract already (unless that’s a ploy to get more contracts).

    VA:F [1.9.22_1171]
    Rating: +4 (from 8 votes)
  18. Typical purchasers of this type of place tend to be slightly older DINKs (early to mid 30s) where both work in consulting, biglaw, medicine, etc.

    They will most likely be newly married and given zero thought about kids yet.

    They will probably have a household income between the two of around $400k and may have a trust fund/inheritance or parental help for a portion of the down payment which will be 20%.

    VA:F [1.9.22_1171]
    Rating: +8 (from 10 votes)
  19. “a very common way to install curtains is to have them “puddle” on the floor such as this. they didn’t do this in error.”

    This was less of a “puddle” and more of “the dog had an accident on the floor again”.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  20. Oddly when this was last marketed, back in late ’07, I think they were asking 900K also and marketing it as green / LEED / bamboo floors and it marked the bubble’s frothy foamy peak. Puddled curtains and white kitchens the eco green building?

    VA:F [1.9.22_1171]
    Rating: -3 (from 3 votes)
  21. What is the point of curtains where you can’t even block off the entire window? Window coverings should serve a purpose. If they can’t serve the basic purpose of covering the entire window, that’s a failure.

    Also, if I’m spending 1MM+, I want to have electronically controlled shades that roll up into the ceiling and are invisible when not in use.

    VA:F [1.9.22_1171]
    Rating: -4 (from 4 votes)
  22. Love the Wallaby Station reference! I remember that place from the early 80’s on that corner.

    Always an ugly corner. Why someone would ever pay $1 mln to live there is a mystery.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  23. “In a 4-story building?”

    Yes. First floor is the commercial unit and the parking garage.

    2nd, 3rd and 4th floors have two 3 bedroom/2 baths units each. So 6 residential units. The “single floor” means its not a duplex but the entire condo is on one floor.

    VN:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  24. “Typical purchasers of this type of place tend to be slightly older DINKs (early to mid 30s) where both work in consulting, biglaw, medicine, etc.
    They will most likely be newly married and given zero thought about kids yet.
    They will probably have a household income between the two of around $400k and may have a trust fund/inheritance or parental help for a portion of the down payment which will be 20%.”

    No, absolutely not.

    I fit into that stereotype not very long ago. Trust me, I would not consider this place whatsoever. two busy streets running into each other? Even those of us with higher-isa income potential in our 30’s want quiet at night and in the mornings. Not sure who is buying these properties.

    VA:F [1.9.22_1171]
    Rating: +2 (from 8 votes)
  25. “Not sure who is buying these properties”

    New York transplants. This seems like a steal to them. Or, Paul Manafort could be buying them for Russian Trolls to ruin our next election.

    VA:F [1.9.22_1171]
    Rating: +5 (from 9 votes)
  26. Is it really impossible for a family to live here? Back in the day, a married couple would live with 2 or more kids would live in Levittown house with only 750 square feet. Seems incredible that a family with two kids could not live in a 2100 square foot space, even with changing attitudes about how much living space each person needs.

    All that said, if I’m paying $1 million for a home, I’d likely go west a bit to around Roscoe Village and find an actual SFH (unless I really, really wanted to be close to the El line and hated dealing with CTA buses.)

    VA:F [1.9.22_1171]
    Rating: +2 (from 4 votes)
  27. “Is it really impossible for a family with 2 kids to live here?”

    You nailed it later in the post. It’s not even close to impossible it’s just that with the alternatives people face in this price range, the vast majority will choose more bedrooms and square footage for the same price. You can find a SFH just a bit north or west for the same price or less.

    To me, the people moving up here as opposed to buying closer to downtown are mostly doing it to get more of a neighborhood feel, more space, or a cheaper price. You get none of those with this property which is what is so surprising about it to me.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  28. ” You can find a SFH just a bit north or west for the same price or less.”

    Or like right across the street:

    https://www.redfin.com/IL/Chicago/2821-N-Racine-Ave-60657/home/13362939

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  29. Riz, I wasn’t saying this place is perfect. The location sucks IMHO given the busy street. However, that doesn’t change the typical profile of the who would buy this place which will be an early-mid 30s DINK couple in all likelihood. You may not like it, but I’m sure there is someone out there who will scoop it up.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  30. I like the brass fixtures in pic 19

    VA:F [1.9.22_1171]
    Rating: -1 (from 1 vote)

Leave a Reply