Elegance and Character in this East Lincoln Park 2/2 for $459,000 at 2000 N. Lincoln Park West
This 2-bedroom in 2000 N. Lincoln Park West in East Lincoln Park came on the market in April 2023.
Built in 1931 by William Wrigley Jr, the building has 195 units. It was originally apartments until it was converted to condos during the housing boom in 2004-2005.
The building has full time door and maintenance staff, a roof top deck, exercise room, bike storage and a laundry room.
There’s no parking but the listing says it is available as a monthly valet across the street or on the street for free.
This unit is a southeast corner unit with views of Lincoln Park, the Lake and downtown.
The listing says it has elegance and character and “old world charm.” It still has some of its original vintage features like the original crown molding and parquet hardwood floors, which have recently been refinished.
It also has a foyer with the original inlay marble floor.
The living/dining room has the original decorative fireplace with built-in cabinets. It has arched doorways.
The kitchen has dark wood cabinets, what looks like green and black granite counter tops and backsplash and stainless steel appliances. There’s no island but there’s a built-in desk area.
The primary bedroom has a walk-in-closet and a linen/shoe closet. The second bedroom has a 2 closets.
All the windows have shades. There’s also a cedar closet.
You’ll get a bunch of amenities including on-site management, 7 days a week engineering/maintenance, a rooftop deck with 360 degree views, a gym, 2 biker rooms, laundry and 2 pets are allowed up to 50 lbs each.
This building has Starbucks and RJ Grunts, is near the shops and restaurants of East Lincoln Park and Old Town, and is directly across from Lincoln Park.
Listed at $459,000 for 1250 square feet, is this a deal?
Brenda Mauldin at Baird & Warner has the listing. See the pictures here.
Unit #902: 2 bedrooms, 2 baths, 1250 square feet
- Sold in April 2005 for $558,000
- Sold in April 2020 for $380,000
- Currently listed at $459,000
- Assessment of $988 a month includes heat, gas, doorman, cable, exercise room, exterior maintenance, lawn care, cable, exercise room, exterior, scavenger, snow removal, Internet
- Taxes of $7271
- Window units cooling
- No washer/dryer in the unit
- No parking
- Decorative fireplace
- Bedroom #1: 16×12
- Bedroom #2: 15×11
- Living/dining combo: 21×14
- Kitchen: 18×16
- Foyer: 4×4
- Walk-in-closet: 6×4
This one may be tough to sell seeing how Chicago buyers have always been discerning, and the window unit doesnt look like it has sophisticated chips. And discerning buyers always love 80’s kitchens in a vintage building
This is a cool old building but the owners have slapped a coat of paint on this and think its gone up $80k in 3 years – LOL
Current owners HMAM = $3k/mo, New owners $4200/Mo w/ no parking or in unit laundry
The buyer of this place is going to get skewered
“April 2005 for $558,000” + CPI = $865k
Man, these Invsco conversions screwed their buyers so hard.
Was this a 2/2/2 building?
A similar property at some price that has been lingering for awhile. Could be a good one to chat about another day.
https://www.redfin.com/IL/Chicago/2912-N-Commonwealth-Ave-60657/unit-7D/home/13370811
“Was this a 2/2/2 building?”
It might have been. But that 2005 price is just another reminder of how big that bubble was in 2003-2008. And it can take decades to recover.
“Current owners HMAM = $3k/mo, New owners $4200/Mo w/ no parking or in unit laundry”
You always make this comment JohnnyU on properties about the “new” monthly payment given the higher mortgage rates to the “new” owners. Yet over the last 6 months, thousands of properties have sold to “new owners” at these “higher” payments without any problems.
Clearly, the higher payment is irrelevant to these “new owners.” As I’ve said many times over the last 15 years, we are a monthly payment nation and buyers will buy based on what monthly payment they can afford. It’s not about the price of the property. They will shop for a property based on that monthly payment (including assessments and taxes). With 6% rates, that means many will have to “move down” in price in order to get that same monthly payment. That is all that is happening now.
It’s why so many of you got it wrong that the sellers would lower their price to find a buyer. No. They are simply getting a completely different buyer, but at the same price. The buyers are adjusting to the higher mortgage payment to make it work, NOT the sellers.
cutting both ways on this one, the PP + cpi is $447k, so they aren’t asking something especially higher than their cost.
I do think the older kitchen will be an issue here. Gotta give the buyers what they want:
White cabinets
Quartz countertops
Subway tile backsplash
Could do a $10k refresh on the kitchen but will you get it back out? We’ll see how long this is on the market.
“White cabinets
Quartz countertops
Subway tile backsplash
Could do a $10k refresh on the kitchen but will you get it back out? We’ll see how long this is on the market.”
A pergola costs a minimum of $125k but its going to run $10k to do the work you listed?
Have you ever done a remodel in your life?
This is a nice unit but priced too high considering no parking, W/D or central air. I love the building itself and the location.
“I do think the older kitchen will be an issue here. ”
I’m probably in the minority, but I’d take an older high quality kitchen with factory finished cabinetry over white or grey refinished cabinets and a DIY blacksplash any day.
Having said that, I do think the medium brown cabinetry is fairly timeless and on par with the classic finishes of the unit. It’s the dark marble that dates it. Switching this out for white quartz would really freshen things up.
I like having the condo plan as well as the building floor plan.
Good views and location. Hefty door to the building is a like opening a vault. Had friends who rented in this building and hung out there a few times. Seemed like it probably had lots of rentals. So, so many meals in RJ Grunts. In fact, it was during one of our last meals there (as residents) that we received word from our broker that we had a buyer for our place around the corner, pretty much a day or two after listing and at the list price. I KNEW that we could have listed $10-20k higher, but I was relocating for a job and our broker cautioned against it. Fiduciary duty my butt.
Definitely was a rental building in the past. Can’t remember when it went condo but it wasn’t all that long ago if memory serves.
anonny
” Fiduciary duty my butt. ”
well I forget and don’t want to google fu but let’s say using round numbers your place was 400k
400k x .05 commish = 20k
380k x .05 commish = 19k
No sale or wait longer for the 20k or get the 19k right now? The incentives are set up in your favor
no edit function and we never got the wiki
the incentives are NOT set up in your favor.
“PP + cpi is $447k”
Reduced to $445k, and contingent.
Closed for 427,500