3-Bedroom Row House with a Dumb Waiter at 554 W. Fullerton Parkway in Lincoln Park
This 3-bedroom vintage row house at 554 W. Fullerton Parkway in Lincoln Park came on the market in July 2023.
Built in 1886, the row house is on a 20 x 101 sized lot. It has a parking pad behind the row house with one parking space. It’s not gated.
If it looks familiar, that’s because we last chattered about it in April 2011.
In the chatter, a poster named Ed said:
I think this looks well done and the neighborhood should see a reduction in traffic and increased quiet when the hospital moves in 1 year.
We all tried to guess about what would be built on the old Children Memorial’s site. See our chatter here.
This row house still has many vintage features including the original mahogany front door and staircase, 12 foot high ceilings, extensive crown molding, ceiling medallions and 3 original stone fireplaces.
There are also ebony hardwood floors throughout and a wet bar and dumb waiter.
The first floor is the kitchen, dining room, utility/laundry room and half bath. It has two separate entrances, both north and south.
The kitchen has white cabinets, what looks like stone counter tops, stainless steel appliances and an island with seating for one. It also leads to a back brick patio which is fenced in.
The second floor has the living room and family room, along with built-in bookcases, and the wet bar.
The third floor houses the three bedrooms. Two of those, including the primary, are en suite.
The row house has a front garden, in addition to the back bricked patio.
It has central air.
This property is in the heart of Lincoln Park, near the shops and restaurants of Lincoln Park, the lake front, beach and Lincoln Park Zoo.
Originally listed in July 2023 for $1,615,000, it has been reduced $117,500 to $1,497,500.
Are mortgage rates over 7% having an impact on the sale?
Maria Liancourt at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.
Or see it at the Open House on Sunday, September 24 from 11 am to 1 pm.
554 W. Fullerton Parkway: 3 bedrooms, 2.5 baths, no square footage listed, row house
- Sold in April 1992 for $350,000
- Sold in November 2005 for $899,000
- Originally listed in February 2011 for $1.25 million
- Sold in December 2012 for $1.015 million
- Originally listed in July 2023 for $1,615,000
- Reduced
- Currently listed at $1,497,500
- Taxes are now $16,339 (they were $11,991 in April 2011)
- Central Air
- One car parking onsite at the rear of the property
- 3 original fireplaces
- Bedroom #1: 14×12 (third floor)
- Bedroom #2: 14×12 (third floor)
- Bedroom #3: 8×7 (third floor)
- Living room: 18×12 (second floor)
- Family room: 14×12 (second floor)
- Wet Bar: 5×4 (second floor)
- Kitchen: 17×12 (main floor)
- Dining room: 15×12 (main floor)
- Utility/laundry room: 3×8 (main floor)
- Foyer: 6×8 (second floor)
“Are mortgage rates over 7% having an impact on the sale?”
One minute the market is so HAWT(tm) that rates dont matter, the next its rates are slowing the market. I guess when you play both sides of the coin you’ve got an almost 100% chance of being correct
Nice place, Has enough vintage vibe but the early 2000’s & Modern arent working
Lets be serious, this is a 2 bedroom. Yeah you can stuff a crib in the 3rd but its going to be challenging with 2 school aged kids. and get ready for fights as the owner of the 3rd br is going to have to go into the 2nd bedroom to access the bathroom. I think there’s better options for a family at $1.5MM+ Lack of storage and a true “Master Suite” are not optimal.
Units about 1700sf on 3 levels, so its going to live a lot smaller.
I want to say Ed was wrong about traffic on Fullerton but I’m not there a lot these days. Do others agree? Cute house with great curb appeal.
Interior also works well. Reminds me very much of the row homes on Alta Vista, but even nice ones there typically sell for under $900,000 and this one is $1.4. Might be worth it for the LP location, but being on Fullerton negates that somewhat.
I agree it lives small, as Johnny notes. Not necessarily going to work for a modern family with kids, Probably more of a place for a well-off married couple without children or with grown children, or maybe one child. I think the price has to come down, but with the shortage of homes, maybe it won’t too much, especially considering how elegant this one is.
having the majority of your common space on a separate level as your kitchen just doesn’t do it for me.
Am I missing something, how is this so insanely priced? 1 non-gated outdoor parking spot, basically a 2 bed + den, odd layout with living space far from kitchen, bathrooms fairly dated, no rooftop or outdoor space, etc. Are you just paying extra the old school fireplaces?
Been looking at townhouses in east LP, specifically Parklane… I like those layouts better with 1 garage spot, 1 pad (and guest parking), two outdoor areas, etc. All for $800-$900K. Location is worse, but price is much better.
https://therealdeal.com/national/2023/09/20/distressed-commercial-real-estate-loans-surge-nationwide/
Anyone see this as a major issue going forward wrt to revenue?
“having the majority of your common space on a separate level as your kitchen just doesn’t do it for me.”
Definitely not the layout most want today, but those buying vintage often will sacrifice some of these things to get it.
“One minute the market is so HAWT(tm) that rates dont matter, the next its rates are slowing the market.”
I haven’t said this. It’s only the bears who got it all wrong on rates.
It’s VERY clear, as I have been saying the last few weeks, that Chicago’s market has slowed, again, now that rates are back over 7%. And now that they’re 7.5%, it’s dead out there. People aren’t even getting showings.
I expect monthly sales the next few months to probably go below the 2011 monthly lows. We’ll see. That was a really dead market but this seems much worse.
Still no inventory coming on so no inventory build. But it’s the type of market where sellers will withdraw their listing if it doesn’t sell within a week or two because lowering the price won’t matter as there are literally so few buyers.