By Popular Demand: The Marlborough 4-Bedroom Penthouse Overlooking Lincoln Park: 2600 N. Lakeview
Ask and you shall receive.
This 4-bedroom penthouse in The Marlborough at 2600 N. Lakeview (and also 400 W. Deming) in East Lincoln Park came on the market in July 2012.
It has private elevator entry into the unit which has lake, park and city views.
The kitchen has white cabinets and SubZero and Wolf appliances.
It also has a wine closet and a mudroom along with an in-unit washer/dryer and central air.
The building, however, doesn’t have any parking. It is available for rent in the neighborhood.
The listing says it’s “An A+ location next door to 2550” (a reference to 2550 N. Lakeview, otherwise marketed as Lincoln Park 2520, the new construction high rise that is now closing on units.)
Is it smart to reference the new construction high rise next door (where a unit of this size, at 3740 square feet) would be double the cost?
Or does it highlight what the vintage building lacks- no pool, no parking, no balconies and not everything is “new”?
Jennifer Ames at Coldwell Banker has the listing. See the pictures here.
Unit #8B: 4 bedrooms, 3.5 baths, 3740 square feet
- Sold in November 1996 for $705,000
- Sold in September 2000 for $525,000
- Sold in December 2002 for $1.25 million
- Originally listed in July 2012 for $2.095 million
- Currently still listed for $2.095 million
- Assessments of $3126 a month (includes heat and cable)
- Taxes of $19,333
- Central Air
- Washer/Dryer in the unit
- No parking- rental in the neighborhood
- Bedroom #1: 14×17
- Bedroom #2: 16×9
- Bedroom #3: 17×13
- Bedroom #4: 14×16
There are only a handful of buildings that contain residences in certain locations that can command this type of price/assessments/taxes – and this is NOT one of them. They need to reduce about 1 million and even then, they will have problems (think about it – you can move to a similar place on East Lake Shore Drive for the same amount or less. Sorry, but location trumps all…..
i wouldn’t pay 1 million for it, but uit will prob go for 1.2 million in 2014
We all know groove gets a woody when it comes to vintage, and separate formal dining room, and large sqft.
but dang it your asking 3k a month just for ass fees? and 1.5k a month for taxes. with all that monthly costs you dont even get parking?
sorry my vote is for less sqft at LP2520
we talk about this many times but it will come to a point where these vintage condos ass fees will be so high that you wont even be able to sell the unit for a cost you may have to pay somebody to take it off your hands.
Price aside, I really like the floorplan, though not sure about the master right off the foyer. Perhaps convert the bathroom on the other side of the master bath to a mega walk in closet/sitting area. And to the realtor, great job on the listing materials including the ample photos and floorplan.
Beautiful home, but 2.1 million? Come on, get outta here! This isn’t even an end unit!
Also listed for rent for $10k/mo:
http://www.walkscore.com/apartments/details/2600-n-lakeview-ave-chicago-il-60614
So, anonny’s contention that this is a “make us move” price is wrong.
*chump edit* nevermind, I do believe it is an end unit but whatever still way overpriced with the 3k a month assessments
I would much rather live in a similarly priced brownstone or greystone in the gold cost. No thanks to this place even though it’s nicely decorated.
My favorite part of this whole listing is the carefully staged kids’ winter coats on the hooks. The photographer is good. Beautiful place, but that price is unreal.
“This isn’t even an end unit”
Yet it manages to have windows on all four sides.
“We all know groove gets a woody when it comes to vintage, and separate formal dining room, and large sqft.”
I thought you preferred a large turret and a long wrap-around?
cribchatter.com/?p=14782Cached
What’s with the “Sorry, no dogs”? After your crazy ass. fees & spending over $2M, you don’t even get a dog? I never understood places like that.
Thanks for not reading my edit, anon
“Thanks for not reading my edit, anon”
When you come over and keep a second screen on constant refresh for me, then I’ll make sure to not miss anything before I post.
This place is not just gorgeous, but f’in gorgeous. Love it.
The lack of in building parking is a killer though at this price point.
“When you come over and keep a second screen on constant refresh for me, then I’ll make sure to not miss anything before I post”
can’t afford a $100 monitor due to your lawn care expenses this month, right?
No dogs? No thanks. I wouldn’t want to live in a building with people who hate dogs.
“can’t afford a $100 monitor due to your lawn care expenses this month, right?”
so how is the $100 a month ass fee to keep up the pool you have used 10 times since you lived there 3 years doing?
“can’t afford a $100 monitor due to your lawn care expenses this month, right?”
It’s the combination of a mulch bill and having my landscape lighting replaced. Totally tapped out.
Really, it’s just that clicking refresh is too damn hard.
Parking for this building is available in 2626 N. Lakeview right next door… I like this unit and the location is great (quiet street across from the park, close to Lakeshore Dr. for easy access around the city, close to restaurants/stores/services, etc. on Clark), but $2 million? Especially with those assessments? I’d have to agree on going smaller at 2550 Lakeview…
“so how is the $100 a month ass fee to keep up the pool you have used 10 times since you lived there 3 years doing?”
I wouldn’t know, I don’t have a pool in my building nor $100 assessments to maintain it groovester 🙂
I am a big proponent of low amenity buildings, thats why I live in one to keep my assessments low!
“I am a big proponent of low amenity buildings, thats why I live in one to keep my assessments low!”
well you could have let me know that before i posted my statement.
“Really, it’s just that clicking refresh is too damn hard.”
https://chrome.google.com/webstore/detail/aabcgdmkeabbnleenpncegpcngjpnjkc
“can’t afford a $100 monitor due to your lawn care expenses this month, right?”
How many monitors does sonies have? Is he a daytrader?
“Is he a daytrader?”
i though he is a guy the tells, oops plans how other people should spend their money?
“i though he is a guy the tells, oops plans how other people should spend their money?”
That doesn’t sound like a real job.
“That doesn’t sound like a real job.”
You just don’t know enough about “family offices”. Prole.
“Is it smart to reference the new construction high rise next door (where a unit of this size, at 3740 square feet) would be double the cost?”
Yes, because they’re going to notice it when they arrive to see the subject unit. Clever to try and put a positive spin on it upfront. Those that might have problems with paranoid inferiority-complex over the issue, won’t schedule a property visit, thereby saving the realtor wasted time.
I’m not a daytrader, and I had the option at my job to have the dual monitor setup, but it gave me headaches and i’m a good alt-tabber (put that on my resume even) so I went back to the one monitor set up.
And I don’t tell people how to spend their money, I take people’s money and turn it into more money that they can spend all they frickin want.
Beautiful, but that is a hefty, hefty price tag. The lack of amenities wouldn’t get me (if I were in the bracket), but the lack of deeded parking and no dogs would.
“Is it smart to reference the new construction high rise next door (where a unit of this size, at 3740 square feet) would be double the cost?”
Yes it gets into that idea about being #2 on the A team or #1 on the B team. Some buyers will go one direction while others go the other direction.
I bet that there are some buyers who would want to put their offer in and be associated with the new fabulous Luxury building that they believe everyone is talking about (aka 2520) while others would take that same $$$ and prefer to buy the better layout unit that is located in a similar location (aka this unit).
I think the lack of parking and dogs in this building irk me even more than the lack of color in this condo. It is a beautiful place but EVERY wall is white, the cabinets are white, the counters in the bathroom is white…it is like they sucked out every drop of color in this unit. Ugh, feels like a hospital to me or something. Please put some paint up!
“So, anonny’s contention that this is a “make us move” price is wrong.”
Why, because it can be rented for $10k/mo? Nearly every single poster feels that the price is way too high. Sounds like a make us move approach to me. That they’re willing to move out and take what is likely enough to cover fees/taxes/mortgage doesn’t change things either. Anyways, my “make us move” contention related to their previous listing attempt (4-5 years ago), and was described as such by the broker who placed us in a rental in the building and another unit owner. Not sure why that listing history isn’t reflected here (maybe it wasn’t on the MLS? I know I saw it online).
As for the parking in the hood, spaces aren’t only available in 2626, but 2600 has a certain number of dedicated spaces there. There’s often a wait, but it’s my understanding that spaces carry over to new residents. Doesn’t do much to change the fact that there’s no parking directly on premises (something I’d certainly want at this purchase price and for $3k/mo fees), but it’s far better than “available in the neighborhood.” We rented a space down at 2500, which was quite a bit more of a hoof than 2626.
I’m not sure what this unit should go for, but $1.2 wouldn’t be unreasonable. It would fetch more were it not for the combination of sky high assessments and no onsite parking spaces. I’d bet that the next buyer will be torn between this place a (nearly) comparable co-op unit along the park. They’ll cost the same each month, but the co-op will have parking (and perhaps a door man), while this unit will allow the buyer to finance more of the deal (and receive a larger tax deduction).
Lastly, as I’ve been saying for over a year, I’m really on the edge of my seat waiting to see how the occupancy of 2550 impacts the immediate hood. I still think it will be very nice (certainly nicer than the East LSD area), but there’s about to be thousands of new residents in the hood.
“but there’s about to be thousands of new residents in the hood.”
I think you are looking at it off again. there is going to be a couple hundred new residents in the hood, and a couple thousand new listings in the the hood
“Why, because it can be rented for $10k/mo?”
Um, if they are willing to rent it for that price (about a 5 cap to their *purchase price*), they are intending to move out of it for at least a period of time. The asking price may well be a “make us sell” price, but they are pretty clearly intending to make a premiary residence elsewhere in the near future.
Could alaobe an estate sale…. Perhaps the heirs can wait for the lotto jackpot of cash from this saleand pocket the roughly 60k of positive cash flow for a few years until they get the higher offer that they seek.
make that “also be” an estate sale.
“Could also be an estate sale.”
Sure, if a family with two elem age kids have been living in an estate-owned property.
“Sure, if a family with two elem age kids have been living in an estate-owned property.”
Is it impossible for the parents of two elementary aged kids to die?
“Sure, if a family with two elem age kids have been living in an estate-owned property.”
Anony – fair point you might be correct however It is extremely well staged. Almost too well in fact. The realtor and sellers know that they are likely selling this home to someone with kids so that has been played up to the hilt. Note the winter jackets on the hooks. Someone else noted that they look suspiciously out of season. Also there is really not that much stuff on any of the shelves, bathroom sinks, or kids rooms.
They clearly have some wealth so those bedrooms could have easily been set up for each of the their precious grandchildren. My grandparents had a “kid” room set up in their very modest bungalow when we were growing up and it was always ready to go for one of their 6 grandchildren.