A 3/3 4-Level Brick and Timber Loft Returns in Lincoln Park: 2222 N. Racine
This 4-level loft in 2222 N. Racine in Lincoln Park came on the market in August 2019.
This building was constructed in 1911 and consists of 16 multi-level lofts and an attached parking garage. Not all of the units have parking.
This 4-level loft functions more like a townhouse or row home, than a condo.
If it looks familiar, that’s because we chattered about it pre-Covid, in January 2020 when it had seen a price reduction which took it $10,000 under the 2017 price.
See our chatter here.
If you recall, it has authentic loft features including several levels of exposed brick and timber along with exposed ductwork.
The main level has a 2-story living room, the dining room and kitchen along with a half-bath which also has the washer/dryer in it.
The old listing said the loft has a “commercial kitchen” with wood cabinets, what looks like stone counter tops and a luxury stainless steel stove.
There’s one bedroom on the second floor, one on the third and the master suite is on the fourth level.
The master suite has an en suite bath. and the private rooftop deck is also accessed from the master bedroom.
The old listing said the bathrooms have been updated with marble.
It has central air and attached garage parking is included.
But the big selling feature in this new COVID-19 world is the private rooftop deck, which is accessed from the master bedroom.
Many lofts don’t have any outdoor space at all.
Originally listed in August 2019 for $679,000, it was reduced before finally being pulled from the market in April 2020 during the lockdown. In April it was listed at $649,000.
It came back on the market this month at $625,000, which is $34,000 under the 2017 purchase price of $659,000.
Will the reduced price and the rooftop deck during a pandemic finally get the sale done?
Tom McCarey at @Properties still has the listing. See the pictures and floor plan here.
Unit #13: 3 bedrooms, 2.5 baths, now listed with a 1816 square footage whereas the last listing didn’t list it, 4-levels, loft
- Sold in June 1987 for $285,000 (per Redfin)
- Sold in May 1992 for $274,000
- Sold in February 1994 for $305,000
- Sold in June 1998 for $380,000
- Sold in May 2002 for $485,000
- Sold in May 2011 for $565,000
- Sold in December 2017 for $659,000
- Originally listed in August 2019 for $679,000
- Reduced
- Removed from the market in April 2020 listed at $649,000 (included attached garage parking)
- Re-listed in August 2020 for $625,000 (includes attached garage parking)
- Assessments are now $342 a month (they were $297 a month in January 2020) (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes are now $7719 (they were $7052 in January 2020)
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 16×14 (fourth floor)
- Bedroom #2: 18×13 (third floor)
- Bedroom #3: 15×9 (second floor)
- Kitchen: 14×8 (main floor)
- Living room: 18×14 (main floor)
- Dining room: 14×12 (main floor)
- Laundry room: 3×3 (in the half bath on the main floor)
- Rooftop deck: 15×15 (fourth floor)
Maybe people will start doing more with design and decks. In my younger years, I had a deck like this. One where every time I went to Home Depot or Menards, I picked up something to add. Eventually, it looked like this one – lots of stuff, cluttered and not very polished looking. It could use an overhaul.
Still has too many stairs. Still overpriced. Still on the market.
It’s a Monday; huge portions of my state are on fire; and we’re in a pandemic that’s got our economy on the brink, our kids still remote learning, filming for the second season of the Mandalorian incomplete, and about 4x the number of daily American deaths as during WWII, mostly because of a moronic fascist death cult and its syphilitic leader. But seeing that two-chair dining situation has really got me down.
@anonny LOL. That and the broom leaning against the glass slider door and the sheet untucked from the bed really round it out.
For crying out loud someone please sand and refinish you deck!
I hear you guise on the comments about agent being tired/lazy to even make the bed, remove shoes, push broom aside, and my wife would hate it because its not kid friendly because baby would try to pick at all the bricks and fall down the stairs, but at 625 or a low ball of 575-600, this place is a pretty decent buy. Asterisk: I am no city apologist, I want to move/flee out of cook county ASAP, but there’s definitely a line at which the city is the city, and maybe we will or are already Detroit, but at some point, stuff is attractive.
Sounds like these guys just need to sell and the market is going to clear at a crappy level.
So, it’s basically at the ’98 price, plus inflation:
Jun-98, $380k + CPI = $604k
And, BELOW the 1987 price:
Jun-87, $285k + CPI = $650k
Yikes!
And that’s with a kitchen that is (whether you like it or not) WAAAY nicer than whatever was there in ’98 or ’87.
I don’t see anything like Detroit in the late 60’s happening to Chicago – there will be a demographic shift, but I don’t think to what people are expecting.