First Time on the Market in Generations: A 3-Bedroom at 2130 N. Lincoln Park West
This 3-bedroom in 2130 N. Lincoln Park West in East Lincoln Park came on the market in August 2023.
Built in 1928, 2130 N. Lincoln Park West has just 33 units and an attached garage.
The building has a on-site building concierge and engineer, extra storage, an exercise room and a common garden terrace.
The listing also says the recent projects that have been done over the last 5 years include: “Masonry, roof maintenance, replaced section of risers, renovation on exercise room, replaced vacuum pump in the boiler room, replaced flooring in the garage.”
This property is listed as “priced to sell” and that it is the “first time on the market in generations.”
It has east, south and west exposures with lake and Lincoln Park views.
This unit has some of its vintage features including a private elevator which opens into a 37 foot gallery with a barrel vaulted ceiling and “exquisite plaster detailed moldings.”
It has hardwood floors throughout and crown moldings.
The listing says it has a “large chef’s kitchen” with white cabinets.
It has wall unit cooling, an in-unit washer/dryer (is that it in the kitchen next to the dishwasher?) and an attached parking spot is included.
The listing says this is your chance to custom design your own Lincoln Park abode.
The building is across from Lincoln Park, the zoo, and near the shops and restaurants of East Lincoln Park and Old Town.
The listing says it’s in Lincoln Elementary school district.
At 3,000 square feet, that’s as large as many single family homes.
Listed at $849,770, is this priced right for a buyer to do a renovation?
Andrew Glatz at Crown Heights Realty has the listing. See the pictures and floor plan here.
Unit #7N: 3 bedrooms, 3 baths, 3000 square feet
- No prior sales price available
- Currently listed at $849,770
- Assessments of $1900 a month (includes heat, parking, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $15,329
- No central air, but wall units throughout
- Washer/dryer in the unit
- Attached parking space included
- Bedroom #1: 18×16
- Bedroom #2: 17×14
- Bedroom #3: 12×10
- Living room: 24×16
- Dining room: 18×11
- Kitchen: 15×12
- Family room: 18×15
- Gallery: 38×8
It appears that the high water mark for any unit in the building is just over $1m, most recent being 17N in 2021 (no pix) at $1.05m.
So, unless one thinks this can be made livable for $100k, I’s think it’s rather overpriced.
Maybe something starting with a 6.
“The listing says it has a “large chef’s kitchen” with white cabinets.”
this is hysterical.
Seems very over priced. You can get a comparably sized vintage SFH in this ELP area that is move-in ready for about the same monthly payment:
https://www.redfin.com/IL/Chicago/511-W-Grant-Pl-60614/home/12793680
Or a slightly smaller condo with the same number of beds and baths:
https://www.redfin.com/IL/Chicago/466-W-Deming-Pl-60614/unit-1/home/26809264
I don’t understand why the walls look like they do while some of the dark finished floors look like they were recently buffed?
WTF happened here? Was the wallpaper so offensive they thought it would be more marketable if they ripped it off? Someone in the estate thought they would buy it, started working on it, and decided they were in over their head?
I really think the list price was a huge mistake. This thing will languish with eventual chops down to low $6xxK / upper $5xxK Whereas if they had listed at say, $625K they probably would have generated a bidding war and someone who “has to win” would have paid not too much below their current ask with the difference being they would sell much quicker and for more money. Really bad advice from the realtor if in fact this listing price was the realtor’s idea.
“WTF happened here?”
My guess is that someone started a rehab that never got finished. The wallpaper was ripped out and some of the walls were partially refinished. Looks like some but not all the floors were refinished. The bathroooms and kitchen appear to have damage from the recent building wide riser project.
Looks like the associated has filed a lien for unpaid assessments as of 2018 and that the 2019 taxes were sold and YTD first tax bill remains unpaid. A significant chunk of whatever this sale generates is going to pay debts / liens.
I am living this myself. Have somehow kept up with the bills on my deceased parents home but not getting any help cleaning it out, and it is in another state, it can be an awful struggle. Going on a few years now with the most vocal “heirs” also being the ones not lifting a finger to help.
There is a comparable unit a few blocks north that is the exact same size and in livable condition for only $50K more.
https://www.redfin.com/IL/Chicago/2920-N-Commonwealth-Ave-60657/unit-12A/home/13370417
The seller is an absolute clown shoe for asking $850k
would really have like to have seen this before the demo
Looks like it was paneling, not VWC
Agreed that someone thought they could fluff and buff it to $1MM, started work, reality set in and pulled the pin
Barring this being someones must have, This doesnt move till $550k as this is an easy $300k investment (Need to add Wall units with sophisticated chips)
Realator needs to change their name to Clown Heights
“(Need to add Wall units with sophisticated chips)”
Wrong there. You would remove the wall units and add space pac.
“There is a comparable unit a few blocks north that is the exact same size and in livable condition for only $50K more.”
Lovely unit. I’ve cribbed about this building in the past. But a few things:
1. It’s in Lakeview, not Lincoln Park. Location matters.
2. There’s a hospital building in front of it which blocks lake/park views when you walk out of the building. That’s not the case with any of the buildings on LPW.
“ But a few things”
Valid points. The LPW location is definitely better. But $300K-$400K minimum to redo, plus the risk of additional costs and unknowns when rehabbing a vintage unit? And you’d need to pay for other housing for at least 6 months.
One of my favorite vintage buildings. But a shame this unit isn’t high enough up to have a lake view. I’ll wait for that one before buying.
Was mildly thrilled seeing that a unit in this building was being featured; was thoroughly depressed looking at the listing. I hope things work out ok for the family (i.e., the survivors of the former residents), and I hope the listing broker considers other career options.
I was curious to know what this unit would look like in a more livable state and came across list photos of 17N.
https://www.urbanrealestate.com/property/2130-N-Lincoln-Park-West-Unit-17N-Chicago-IL-60614-6W3TkSysjpqE.html
17N maintained many of the vintage features, and has the pretty much the same layout as the featured property, 7N, with the exception of the 3rd bedroom having been converted to a large master bathroom. It last sold for $1.05M in 2021
Nice find KK. It would take considerably more money and effort to bring this up to that level. This sells to a flipper once they chop $250K off the ask. The flipper will want to make a hefty profit. Someone with means who loves the location and wants to stay there for many many many years could possibly pay as much as $700K but it would be awhile for them to generate any equity.
“I hope things work out ok for the family”
The estate conveyed it, apparently by deed in lieu of foreclosure, to an LLC back in March. So I think it already is what it is for the family.
“list photos of 17N”
From the kitchen pix, it’s like the listing copy for 7N was drafted while looking at the pix for 17N.
Thanks for posting the pictures of 17N KK. Really tells you what can be done with one of these but it’s going to take time and money.
I’m so sad if 7N had that woodwork/paneling and tore it out.
Also, notice that it does have space pac so you would get rid of all those wall units.
I’d rather come up with the cool million for 17N. Gets me a lake view and no waste of time/money fixing up.
This has reduced to $699,770.