Get a Luxury Lincoln Park 2/2 at 18% Off the 2007 Price: 2757 N. Lincoln
This 2-bedroom at 2757 N. Lincoln in Lincoln Park on the border of Lincoln Park and Lakeview has been on the market since mid-June 2011.
It is a short sale.
In that time, it has been reduced $50,000 and is now listed about 18% under the 2007 purchase price of $520,000.
2757 N. Lincoln is a 14-unit elevator building that was built in 2007.
The unit has upscale finishes including Wolf, Subzero, Bosch and Dacor stainless appliances.
The master bedroom has a spa bath.
There is a fireplace, crown molding, hardwood floors throughout and 2 outdoor spaces.
The unit has central air, washer/dryer in the unit and garage parking.
Is this a deal for the finishes and location?
James Roth at Conlon has the listing. See the pictures here.
Unit #302: 2 bedrooms, 2 baths, no square footage listed
- Sold in May 2007 for $520,000
- Originally listed in June 2011 for $479,000
- Reduced
- Currently listed as a “short sale” for $429,000 (garage parking included)
- Assessments of $251 a month
- Taxes of $7750
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×12
- Bedroom #2: 14×11
Nice sized place, plus an elevator and garage. Not a great location. Were it not for the high end kitchen, it would be competing with $400k places. Since it’s better than most 2/2’s in the area and price range, I suppose the special kitchen merits a $25k premium. So, $425k?
The building is atrocious and it’s on a busy street. It’s depressing to think someone paid $520 for this 4 years ago. I suppose it’s nicely done inside, but I don’t think I could get past the exterior or being on such a busy street.
HOLY POST-PROCESSING! The exterior pic doesn’t even look real!
Mostly nice finishes, although I don’t love the kitchen, the bathrooms or the paint colors. I think around $405k is a realistic price. Nice location, nice finishes, but 2 bedrooms around here just aren’t worth $500k anymore.
Not even 3% down…
“I suppose the special kitchen merits a $25k premium. So, $425k?”
Is it really that special? The appliances might be an extra 10k compared to mid level GE or whatever. The cabinetry doesn’t look all that special and probably isn’t worth another 15k and imo I’m not a fan of the style nor the big wall of cabinets. It’s too much… With all that space I would expect a proper exhaust hood and wall ovens instead of a range.
That’s a pretty ugly kitchen considering how much if likely cost
#401, a 3/2.5, is also listed for $699:
http://www.redfin.com/IL/Chicago/2767-N-Lincoln-Ave-60614/unit-1014/home/26809054
The special kitchen has and $8,000 fridge and a $4,000 range so yes I would say it’s special. I don’t like how it has two balconies that are each shared with neighbors. They should have just built one private balcony instead.
The fridge and range are nice, but seem really out of place for a property of this price. If I was choosing between two places and one was priced lower and had mid-range appliances and this one, with fancy appliances, I would pick the lower priced condo.
“The special kitchen has and $8,000 fridge and a $4,000 range so yes I would say it’s special.”
Spending a couple more bucks on appliances is all that it takes? I guess we have some very different definitions of what makes a kitchen special. This thing is so blah it’s almost offensive that they spent all that loot on appliances instead of a competent designer.
Anon, given your link seems something is priced off here. Either the 3 bedroom is too pricy or this one is a deal. I just cannot comprehend why one bedroom more should command such a huge premium.
I don’t like long narrow rooms with windows on only one end. I also wouldn’t want to live on this street. That said the price is probably competitive. We might see another price reduction on this one before it sells.
“I just cannot comprehend why one bedroom more should command such a huge premium.”
The $699K unit is a top floor. But more importantly, the buyer paid $768,645 (!!!) in 4/07, so $699K is MORE THAN FAIR! (sarcasm)…
“Anon, given your link seems something is priced off here.”
The 3 br is a penthouse, with roofdeck!
It’s also listed for ~8% off 2007 price, rather than 18%–with the same haircut, it’d be $630k.
“The 3 br is a penthouse, with roofdeck!”
Nothing about that roofdeck warrants a !.
Can you even consider living in this type of building unless you get/pay for the top floor? I’ve been looking at a few condos, newer buildings – but can generally only afford the middle floors – the noise from above in most cases drives me right out the door -!
Friends tell me unless the building is concrete framing – I’ll be miserable living under someone. Wood floors, heels, dogs, etc.
Is this one of the reasons the top floors command such a premium?
“Nothing about that roofdeck warrants a !.”
Nothing about the unit warrants the “penthouse” moniker, either, but it didn’t stop me!!
Puny, unimproved roof decks, or GatorDecks–which one is more likely to get regular use?
“Is this one of the reasons the top floors command such a premium?”
YES!!! (no sarcasm in that punctuation)
I’ve been in one of these units for a party, it was a terrace unit with a “gator deck” basically, I remember laughing with some suburbanites watching the GIGANTIC rats scurry about the alley.
Decent unit although nothing really says 3k a month to me
“I’ve been in one of these units for a party, it was a terrace unit with a “gator deck” basically, I remember laughing with some suburbanites watching the GIGANTIC rats scurry about the alley.”
That story, iirc, was part of the origin of GatorDeck.
damn i am a part of cribchatter history!