1890s Lincoln Park Rowhouse Listed Under 2003 Price: 2545 N. Burling
This renovated 1890s rowhouse at 2545 N. Burling in Lincoln Park has been on the market for over a year.
It was recently reduced $100,000 and is now listed below the 2003 selling price.
Mary Beth Smith at Rubloff has the listing. See the listing, pictures and a virtual tour here.
See property website here.
There’s an open house on Feb 8 from 2 to 4 pm if you want to check out the property in person.
2454 N. Burling: 5 bedrooms, 3.5 baths, no square footage listed, 2 car garage
- Sold in May 1999 for $1.13 million
- Sold in July 2003 for $1.55 million
- Was listed for $1.599 million
- Reduced
- Currently listed for $1.499 million
- Taxes of $20,641
- Central Air
- Listing says there’s a $10,000 purchaser credit with acceptable offer by 1/31/09
Ex post facto they didn’t buy smart.
As a side note I just picked up on the fact that McDermott is laying off 60 lawyers. Of course, none of them live in the immune areas of Lincoln Park and drink wine with people also known as Steve.
Yeah all those lawyers probably live in Schaumburg 🙂
the movie Saving Isiah was filmed on this block. the listing doesn’t mention it.
my mistake. it was called Losing Isaiah
“McDermott is laying off 60 lawyers”
That’s a nationwide number. Only about a third of tehir lawyers are in Chicago. It’ll be ~20 locally. Not nothing, but not huge either. But, yeah, they all are probably either condo owners or prospective condo buyers.
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Steve Heitman on January 31st, 2009 at 9:19 am
“Do you know another place where you could receive 3 times your investment in 9 years? Wow! LOL”
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According to my calculations this place will give you 33% return over 10 years, rather than 300%. And that if:
•it sell it for 1.499 mil
•they did not put any money in it renovating it over those 10 years
Damn I wish I had a 1.5 mil. to toss around. This place makes me drool…
I have walked this property and here are my thoughts – This is basically a narrow and dark 3 bed, 2.5 bath with an additional 2 beds in the basement. Burling is a nice street but this property is in a bad school district. The south half of Burling is in Lincoln School District and the north end is in Alcott. Maybe someone bought it using comps from the south end of the street (bad broker?).