A Renovated 1-Bedroom with Balcony for $274,900 in Lincoln Park: 2740 N. Pine Grove
This 1-bedroom in Park View Tower at 2740 N. Pine Grove came on the market in March 2022.
Built in 1974, Park View Tower has 149 units and both garage and outdoor parking.
It’s a boutique elevator building with a laundry room.
This unit is on the 11th floor and has west views over the city.
The listing says it is a “brand new unit renovated to exquisite standards.”
It has a “new open floor plan” with gray wood floors.
From the prior sale, it appears they added the bedroom which now has a professionally organize closet.
The kitchen has custom white gloss flat panel cabinets with under cabinet LED lighting, full marble backsplash, white quartz counter tops and high end stainless steel appliances including a microwave drawer.
It has a peninsula with seating for 2 and a waterfall edge.
The bathroom has a walk-in-shower with marble tiles and sliding glass door along with a vanity cabinet with quartz counter top and glass flat panel.
The listing says the unit has new electrical and plumbing.
It has wall unit cooling and electric baseboard heating. There’s no washer/dryer in the unit but there is laundry in the building.
Garage parking is available for $155 a month. Outdoor parking is apparently also available.
The listing says it’s an investor-friendly building with no rental caps and pets are allowed.
The listing also says:
“Specialized paint used with sanitizing technology throughout the unit.”
The unit has a balcony which faces west, with sunset views.
It’s in a prime East Lincoln Park location near the shops and restaurants on Diversey, Lincoln Park, Trader Joe’s and the Landmark Century movie theater.
This unit just sold in August 2021 for $130,000 and has come back on the market renovated at $274,900.
Will they get the premium?
Eamonn Stafford at @Properties has the listing. See the pictures here.
Unit #11D: 1 bedroom, 1 bath, no square footage listed
- Sold in 1993 (I could find a price)
- Sold in August 2021 for $130,000
- Currently listed at $274,900
- Assessments of $302 a month (includes cable, exterior maintenance, scavenger, snow removal)
- Taxes of $696
- Garage parking is rental at $155 a month
- Wall unit cooling
- Baseboard electric heat
- No in-unit w/d but laundry in the building
- Bedroom: 10×11
- Living room: 13×14
- Kitchen: 12×8
I realize the new buyer could always paint, but this place is way too gray and white. The excessive amount of white cannot easily be changed. Are shiny white cabinets really in style now? Ugh.
Looking at this place makes me feel like I no longer have color vision.
I’m sure this will go under contract quickly because people will think it looks sleek and modern, but cleaning this place on a daily basis is going to be a nightmare.
“Sold in August 2021 for $130,000”
the place was nasty. what do we think they rehabbed this place for? 50k?
I’m not sure why I never thought to install an electric baseboard heater right under my sliding glass door.
Oh, nevermind, I remembered why.
What’s with the cords in pic #2?
Appears that the current highest ever price for a 1 bed in the building is $229k for this one:
https://www.redfin.com/IL/Chicago/2740-N-Pine-Grove-Ave-60614/unit-13E/home/13368056
So, seems a little juicy for the building.
I think buying the highest priced place for 20% more than the next highest
priced unit, in a marginal building w/ no rental cap is a sound financial decision
That kitchen seems a bit overkill for this building. You may hate white and gray but the palette performs very well for flippers in the Chicagoland area.
A+ location. There aren’t many condos at this price point in the immediate area with private outdoor space.
Some people (myself included) prefer a “marginal” building as it comes with low assessments and low taxes.
The biggest concern would be who the neighbors are.
“ That kitchen seems a bit overkill for this building.”
Only slightly less ostentatious than the shower fixture situation.
“I’m not sure why I never thought to install an electric baseboard heater right under my sliding glass door.
Oh, nevermind, I remembered why.
What’s with the cords in pic #2?”
You just dont understand “units renovated to exquisite standards.”
Things like walls not being remotely plumb (See pic 7), Trim/outlet on pic 8 and LOLFail with the “professionally organize closet”
Fake it till you make it
Why, oh why, would someone bother renovating a unit in this cheap old building? It’s never been a nice building. Not even when it was built as a low-priced rental. And this unit doesn’t even have a lake view, maybe the only reason to buy a condo here.
Really, there are so many crummy 60’s and 70’s apartment buildings in this city that have been turned into condos. Ones like this would be best converted back to rentals.