Completely Remodeled Lincoln Park 3-Bedroom with Lake Views for $895,000: 2500 N. Lakeview
This 3-bedroom corner unit in 2500 N. Lakeview in Lincoln Park came on the market in January 2024.
Built in 1975, 2500 N. Lakeview has 155 units and attached leased garage parking.
It’s a full amenity building with 24-hour doorstaff, on-site engineer, outdoor pool, sun deck, party room, workout room, and a coin laundry room.
This unit has east views of the lake and park, a northern view and west views. The listing says you can see the sunrise in the morning and the evening sunset.
This unit has been “completely remodeled.”
It has brand new oak flooring throughout, new HVAC wall units with Google nest remote control and new motorized roller shades in all rooms, with the bedrooms having blackout shades.
The kitchen is also brand new with white cabinets and high end white GE Cafe Line appliances, quartz stone countertops with waterfall edge, and a breakfast bar with a wine fridge.
The bathrooms are “completely new” with “beautiful showers and stone work.”
There are custom closets and what looks like one walk-in-closet.
The unit has the features buyers look for including a new Bosch stackable washer/dryer with space for extra storage and parking is available for lease in the building. It doesn’t have central air, but has the wall units.
There’s a balcony off the living room with views of Lincoln Park and, the listing says, some south views of the city skyline.
This building is steps from Lincoln Park, North Pond Cafe, the Lincoln Park Zoo and conservatory, the shops and restaurants of East Lincoln Park. Several bus lines are nearby.
This unit last sold in May 2023 for $473,000 and has come back on the market completely renovated for $895,000.
Buyers love new.
Will the renovators get their price?
Katarina Maiers at Baird & Warner have the listing. See the pictures here (sorry, no floor plan).
Unit #1205: 3 bedrooms, 2 baths, no square footage listed
- Sold in June 1983 for $170,500 (per Redfin)
- Sold in March 1986 for $185,000 (per Redfin)
- Sold in July 1990 for $265,000
- Sold in June 1992 for $282,500
- Sold in November 2002 for $382,000
- Sold in September 2009 for $475,000
- Sold in May 2023 for $473,000
- Originally listed in January 2024 for $895,000
- Currently still listed for $895,000
- Assessments of $1525 a month (includes doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes of $9127
- Central Air
- Washer/dryer in the unit
- Garage parking is leased
- Bedroom #1: 18×13
- Bedroom #2: 13×11
- Bedroom #3: 14×12
- Living room: 18×16
- Dining room: 12×16
- Kitchen: 17×11
- Balcony: 4×6
Do the wall units have sophisticated chips?
Feels like the median age in the building is 73 +/- 3
A retired snowbird with grandchildren seems to be a small target market
lol…400k+ over last sale…plus assessments…in an old building. Lots of million dollar units in smaller buildings around. I guess the brass/bronze/gold hardware justifies it.
Seems a little steep. Maybe more in the low $700s? Once a parking space is rented that’s a pretty big payment going to the building. Not many outdoor pools along the park though.
This building is where the 3/2 was located that we had been negotiating on the summer of ’10 before we found the place in ELP we ended up buying, referenced in a comment of mine in the Unicorn Criteria post recently linked to on here when discussing the place on Grant.
There is (or at least was) an older folk vibe in the building. Besides looking at a unit there a couple times, we parked there for a couple years. Grandkids could stay at worse places.
The picture dedicated to the Nest thermostat cracks me up.
It’s like the realtor is trying to say “this $99 thermostat is why this place is worth $420k more than last year!”
Overall, I think things like that detract from the other, far more substantive, work they did.
Mixed feelings. I love the building, location and east view. The renovation appears nice, and in-unit W/D is an attraction in an older building. HOA and tax also seem decent for this price point.
A few problems include those obtrusive 1970’s A/C units, the fact that it’s a low floor which means views blocked in most directions, and relatively small room sizes. Also, the seller is seeking almost double what they paid a year ago – seems fishy.
“the fact that it’s a low floor”
I think the unit we were trying to buy in this building was on the third or fourth floor. Would have been sort of crazy to be in (and being paying the assessments of) a highrise and not have lake or city views, but looking out at the park was pretty nice (had a similar view over at the Marlborough, where we were renting when considering buying in this building).
“Also, the seller is seeking almost double what they paid a year ago – seems fishy.”
Yeah. They bought an original unit and completely gutted it.
“Once a parking space is rented that’s a pretty big payment going to the building.”
Similar (or cheaper?) to payments along the park though, especially for this size unit and amenities. You either get vintage, which will be more, or you get other 1970s which don’t allow w/d in the unit or may not have outdoor space. Or you pony up for 2550 n lakeview.
“Lots of million dollar units in smaller buildings around. I guess the brass/bronze/gold hardware justifies it.”
With park views, parking and w/d in the unit?
There aren’t going to be any more buildings built along the park in this location. If you want to look at it while sitting out on your balcony, you have a small amount of choices. If your budget was bigger, over $1 million, there will be more choices but the assessments aren’t going to be much lower in most of those buildings.
“Do the wall units have sophisticated chips?”
Did you not read the listing JohnnyU? It says they are on Google Nest, so the answer is “yes.”
And this just makes my point. These wall units aren’t the same wall units from 1975. Get into this century. Life is moving fast.
That’s another thing about this unit. Someone looking to buy it is looking because they want to live ON the park and have those views. That is it.
If they DIDN’T want that, sure, they can find a 3-bedroom cheaper somewhere else in Lincoln Park, in a smaller building, with lower HOAs. Or buy a townhouse.
With this property it really IS about “location, location, location.”
I would personally prefer the south side of the building so I could have skyline views and the south light. But this unit has east and west as well and it’s completely redone, which is what buyers want.
Price drop to $877k
“They bought an original unit”
This doesn’t look “original” to me:
https://www.zillow.com/homedetails/2500-N-Lakeview-Ave-APT-1205-E-Chicago-IL-60614/3726775_zpid/
Floorplan is in the pix, 1488 sf–seems like the only changes were opening up the kitchen and (maybe? no pix) putting the wall back up for the 3d bedroom.
“and completely gutted it.”
Listing sez “Completely remodeled”. I don’t know how you translate that into “gut”. This is absolutely not a gut–the insufficient number of outlets are all in the same places.
“It says they are on Google Nest, so the answer is “yes [they have sophisticated chips”.
I don’t know if it’s intentional or not, but this completely misses the point of the complaints about these types of window/wall units.
“These wall units aren’t the same wall units from 1975.”
Well, yes, they did replace them. And it’s likely they are *much* more efficient than the old ones. They still make me think of a Red Roof Inn.
Red Roof Inn – LOL! Exactly.
“I don’t know if it’s intentional or not, but this completely misses the point of the complaints about these types of window/wall units.”
JohnnyU wanted to know if they had the chips in them. If it’s on Google Nest, then yes. Gotta have something in them to connect them to one system.
“They still make me think of a Red Roof Inn.”
Just tells you the ignorance.
current webpage from Red Roof Inn
https://www.redroof.com/why-red-roof
second photo on Red Roof Inn webpage – clear view of the wall unit
https://images.redroof.com/transform/b5f2b2dd-1324-41f4-a4eb-a396cc244a43/Why-Red-Roof-Red-Roof-Inn-Room?io=transform:fit,width:1024,height:600
“Just tells you the ignorance.”
Is it possible for you to be any less self aware?
“second photo on Red Roof Inn webpage – clear view of the wall unit
https://images.redroof.com/transform/b5f2b2dd-1324-41f4-a4eb-a396cc244a43/Why-Red-Roof-Red-Roof-Inn-Room?io=transform:fit,width:1024,height:600”
LOL
But does it have sophisticated chips?!?
“If it’s on Google Nest, then yes. Gotta have something in them to connect them to one system.”
Tell me you absolutely nothing about HVAC…
A Nest Thermostat is…a thermostat.
It OBVIOUSLY does a lot more than the original Honeywell mercury thermostat, but it’s most basic function is to send a signal to turn the heat/cooling on and off. And that it does whether the HVAC unit is the latest model, or an oil-fueled boiler from 1932.
It is immaterial whether the connection between the thermostat is via low voltage wire, cat 6 cable or wi-fi–the message is the same: on/off and (for HVAC units with variable ‘speed’) how ‘high’ a setting.
“It OBVIOUSLY does a lot more than the original Honeywell mercury thermostat, but it’s most basic function is to send a signal to turn the heat/cooling on and off.”
It’s a wall unit. Somehow the Nest has to talk to each of those wall units. Not sure how that happens unless it’s a smart unit. Years ago, you never had a thermostat at all. You could only control each individual wall unit.
“second photo on Red Roof Inn webpage – clear view of the wall unit”
Again, the ignorance is ASTOUNDING on this blog. Wow.
Get into this century. I beg of you.
“Somehow the Nest has to talk to each of those wall units.”
It’s called a “wire”.
Are you literally 120 years old?
I point you to pages 22 & 74 of this pdf:
https://content.abt.com/documents/124840/Friedrich-PTAC-Service-Parts-Manual.pdf
If you read through the rest, yes, you can get a wireless thermostat, too, but that’s something you can add to *any* HVAC system with a wireless relay.
You’ll also see that the default setting is the controls on the unit.
ps:
to be clear, the wireless relay would plug into regular R/Y/W thermo connections, the same way as if there were a wire running thru the wall from the thermostat, but replacing the wire with the wireless relay + a wifi connection.