“Save Thousands” on a 2-Bedroom in East Lincoln Park: 2714 N. Lehmann
This 2-bedroom penthouse unit at 2714 N. Lehmann in East Lincoln Park has been on the market since April 2009.
It has been reduced by about $40,000.
It is also now listed for $73,000 under the 2006 purchase price.
The listing says you could “save thousands” on this 2006 construction condo.
On the top floor of an 8 unit building, it has upgraded finishes and appliances (including what looks like a Subzero refrigerator in the kitchen.)
The unit also has a private roof deck and parking included.
At what price will this property finally sell?
David McIntosh at McIntosh Realty has the listing. See more pictures here.
Unit #4N: 2 bedrooms, 2 baths, 1600 square feet
- Sold in December 2006 for $612,000
- Originally listed in April 2009 for $579,900
- Reduced
- Currently listed for $539,000 (parking included)
- Assessments of $214 a month
- Taxes of $8804
- Central Air
- In-unit washer/dryer
- Bedroom #1: 16×14
- Bedroom #2: 12×11
Solid 2/2, especially given the central air, side-by-side w/d and garage, not to mention the roof deck, and the fact that’s it’s top floor. It’s certainly better than units recently available in the building above the Best Buy on Clark.
But while the location is technically “East LP,” it’s cutting it close, and that particular street is pretty weird (it’s like a movie set). It’s close enough to Diversey and Clark to “soak up” what is often times a rather sketchy vibe. And it’s too far to walk to the train, and a pretty good hike to Sheridan/Lakeview to catch the express bus (though coming back on the 22 would work well).
As for the 1,600 ft/ are they counting the deck and parking space?
Lastly, for an elevator building, those assessments seem a bit low…
I’d like to see a floorplan. Currently, I’m doubting the square footage as well. Why the need to stretch the truth and exaggerate such an important item?
The units in this development are all spacious and have high quality finishes. For the right price, it could be a good deal.
You can walk to the Lake, Brown Line, restaurants/shops etc.
I like it!
I imagine this place appealing to someone who works closer than the Loop – and unlike a lot of properties nearby, people who work at DePaul or the Childrens hospital could actually afford it. I’m not saying buying a 2/2 is the best financial decision ever, but at least this is one that a single professional/DINK could stay in comfortably. Grown up dorm room it ain’t. Downside is traffic around there gets snarly and it’s a (do-able) hike to the Brown Line. (But hey! Weiner Circle!) I’m impressed that the sellers aren’t trying to list parking seperately, and that they’re listing at a reduced price from the get go, unfortunately Ithink they’llneed to take another 20k loss to get it sold.
Is it just me, or are the ceilings rather low in this place? They look 8′.
Nice, comfortable place, but it somehow lacks the grace of some of the other, spectacular newer condos in the same price range that I’ve seen here.
Little things like the size and placement of the windows (too small here, also), the height of the ceilings (a few inches makes huge diff), and the shape of the room, make such a huge difference in the way a place looks and feels.
Why not get this place for $20K less? They look comparable/identical…
http://www.redfin.com/IL/Chicago/2708-N-Lehmann-Ct-60614/unit-4S/home/13075646
I can’t see the details without logging in, so I may be off.
Jon: You’re right. This unit looks to be in a sister building next door. Also top floor.
Seems pretty high to me — $500+ for a 2/2 with low ceilings an no skyline view? I realize that you can’t compare neighgorhoods, but — You can save even more thousands if you head south to river north where one can snag a 2/2 with skyline view, 10ft ceilings and parking for somewhere in the 300k range.
It is absolutely insane that somebody paid $612k for this place, I just can’t wrap my head around the type of thinking that goes into that decision. Unreal
I went in one of the Lehman court units when they were first built with a coworker. That 1600 sq ft is clearly counting the hallway, parking space and deck. I like the units but I highly doubt that quiet street and the marginal upgrade in finishes/appliances justify the premium over comparable units in the area.
My friends would never stop mocking me if I lived here. I doubt I would be able to get people to come over more than once. This place is horrible.
So they have a 10k fridge. Did you see the size of the windows? Place looks like a dungeon. And lol at that cookie cutter special kitchen island.
How has nobody asked wtf is up with that bathroom? lol.
Generic. Box. Doesn’t appeal to me at all. I wonder about places like this- not for the vintage lover, not for a modern lover, who is the buyer for this? Someone who doesn’t care I guess… too bad for the seller about the place next door, because that person will buy that instead. Better kitchen, better staging, cheaper-no brainer.
needs bigger windows, place looks really dark and looks like a garden unit with those tiny windows!
also I doubt this is a legit 1600 sqft
um did this start out as some government, insane asylum, or institution when they built the exterior and then said hey lets just do condo?
absolutely depressing street to walk down, i dont know if on a cold slushy winter i could walk home down this sad street to my wrist slitting front door and not just turn around and step infront of a bus.
Well you have to give the developer credit. He knew that adding an extra 20k to upgrade cabinetry and appliances would get people to spend a good 150k more than what the place is worth.
Jon – good call on the comp. The units look identical, down to the awkward tub/shower combo in the bathroom.
The 4S unit was relisted on April 5th for $539k, the same as what 4N is now. 4S has already been reduce down to $519k, so I can’t see 4N going for any more than that.
I used to go to the Lehman’s Sports club here in 2004. Was pissed when they tore it down to build these boxes. And then I decided to go to Bally’s on Diversey/Clark. Terrible decision.
Otherwise location was good, getting to Sheridan is about 3 mins. Brown line for a fast walker like me about 10 mins.
The bubble brought way, way to many architecturally blah places 🙁
But thanks to shytie building practices and standards they wont be around for that many decades.
also as nice as the cabinets and kitchen upgrades are IT LOOKS LIKE EVERY OTHER KITCHEN!!!!!!!!!!!!
sheeple i beg of you please be unique and show you not going to stand for this anymore by keeping your money in your pockets (or really the banks money).
“You can save even more thousands if you head south to river north where one can snag a 2/2 with skyline view, 10ft ceilings and parking for somewhere in the 300k range.”
The 2/2s in River North that fit your description are more like $400,000+ by the time you throw in $30-35,000 parking. Much higher assessments, smaller units and not everyone wants to live in a high rise.
“Lastly, for an elevator building, those assessments seem a bit low…”
– There is no elevator, so yes, you get to walk up 4 flights of stairs EVERY day (and yes, you just cut your resale audience by at least 50%).
“The units in this development are all spacious and have high quality finishes. For the right price, it could be a good deal.”
– If by high quality you mean moldings that don’t line up properly and doors that don’t shut properly because the frame is warped, then yes, it is high quality. The right price is probably in the 475-490K range, depending on who you talk to…
Also, check these prices out:
04/16/10 $540,000.00 2702 N LEHMANN CT 4S
10/05/09 $439,500.00 2702 N LEHMANN CT 2N
08/24/09 $439,500.00 2708 N LEHMANN CT 3N
The second through fourth floors have the same floorplans, so the moron who paid 540K in April of this year thinks a rooftop deck (that you can use for 3-4 months each year) is worth 100K? Really?
And just for fun, look at this puke:
08/24/09 $439,500.00 2708 N LEHMANN CT 3N
03/07/08 $517,500.00 2708 N LEHMANN CT 3N – OUCH!!!
POINT OF MY ENTIRE POST:
Walk down to Halsted Row (Halsted & Diversey) and pay 10-20K less for the same unit WITH AN ELEVATOR!!!
The living room windows have to be some type of privacy concern with neighboring buildings, right? Are there any listings for lower floors? I bet they don’t have any at all.
y’all did catch that the laundry room is not on the same floor, right? Looks to be on the parking level, or perhaps in a basement. Wonder if the water stays hot on that 30’+ run?
shouldn’t be a problem i have one for nearly that length and its fine.
“parking level, or perhaps in a basement. Wonder if the water stays hot on that 30?+ run?”
“sheeple i beg of you please be unique and show you not going to stand for this anymore by keeping your money in your pockets (or really the banks money).”
Agreed, Groove. What is the point of participating in a declining market if you are going to buy the boring cookie cutter that you could perhaps more cheaply rent? And another thing: I’m skeptical whenever a listing talks about how great the “finishes” are (they’re not great if you don’t like ’em). The cost of finishes that are not custom and/or that were done a few years ago for current owner should not be simply tacked on to the unit price IMO. It’s like being asked to pay new car price for a used car (and one you didn’t even get to select).
“Agreed, Groove. What is the point of participating in a declining market if you are going to buy the boring cookie cutter that you could perhaps more cheaply rent?”
good that somebody else shares my insane ideas.
there is no reason (here) that somebody should pay 500k for a basic 2/2 that are abundant all over this wonderful city.
just way too many options out there to pay this price.