Fusion of Luxury and Functionality with Lake Views at 2500 N. Lakeview in Lincoln Park
This 4-bedroom at 2500 N. Lakeview in Lincoln Park came on the market in June 2023.
Built in 1974, 2500 N. Lakeview has 155 units and a parking garage.
It’s a full amenity building with an outdoor pool, exercise room, engineer on site, door staff, a party room, a bike room, and a laundry room.
This unit is a unique double unit with 3000 square feet that the listing says has recently undergone a “complete renovation.”
It has south, east, and west exposures, including two balconies, one facing east with lake views and one facing west, with sunset and city views.
There is 7-inch white oak flooring throughout.
It has a chef’s kitchen with white and what appears to be dark wood custom cabinets, quartz countertops and backsplash, an island with a waterfall edge that seats 3, and brand new professional grade panelled appliances.
The primary bedroom has a “spa-like” bath with heated floors, double vanity, separate tub, steam shower with rain head, shower head and handheld sprayer.
It’s unclear from the listing if any of the other bedrooms are en suite.
This unit has the features buyers look for including central air, washer/dryer in the unit and there are 2 leased parking spaces available (not sure on the cost).
This building overlooks Lincoln Park and is near the shops and restaurants of East Lincoln Park.
Listed in June 2023 for $1.9 million, it has been reduced $50,000 to $1.85 million.
Buyers love “new.”
Is this a deal for the square footage and location?
Joshua Lipton and Christine Tepper at Compass have the listing. See the pictures here. (sorry, no floor plan)
Unit #2601-02: 4 bedrooms, 3.5 baths, 3000 square feet
- Looks like long-term owner under both PIN numbers that has owned it since at least 1992
- Originally listed in June 2023 for $1.9 million
- Reduced
- Currently listed at $1.85 million
- Assessments of $2878 a month (includes doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal, Internet)
- Taxes of $17,397
- Central Air
- Washer/dryer in the unit
- Parking is leased in the building
- Bedroom #1: 13×15
- Bedroom #2: 13×17
- Bedroom #3: 12×13
- Bedroom #4: 11×13
- Living room: 23×21
- Dining room: 14×22
- Kitchen: 9×19
- Laundry room: 4×5
- 2 balconies: 4×8
Nice 3Br with great views
Staging is pretty poor for this level of home, the 2 DR tables is questionable.
I dont see a 2.5% price cut moving the needle in buyers eyes.
Nice. I’d prefer this place over lots of other units in the $1.65ish range, which is probably where this one moves.
Is that the a/c unit on the balcony? That’s sort of a bummer.
No pic of the pool?
We were under contract for one of the normal/single unit 3 beds in this building in 2010, I think on the third or fourth floor. We killed it because the unit needed too much done relative to our budget (including all new flooring if I recall), and in addition to the assessments (plus parking) being a bit of a stretch for us at the time, I think there was a pending replacement of the “window walls” throughout the entire building, with the amount of the special assessment still TBD at the time.
I briefly worked with a lady who lived in the building, and she and her husband had combined units so that they’d have ballroom dancing space. I never saw it, but whenever one of these combined units hit the market I wonder if it was theirs.
confidential to nonny: higher up.
Views are unreal but I’m not sure I’d want to be in this building at this price point.
I was looking at this listing over the weekend. The views are awesome, but I’m not sure about the finishes. And the price is eye-popping. This is a 1970’s building presumably with all the 50-year old upkeep issues of other buildings built in its day, and some things (like low ceilings) that can’t be changed. Not sure about the elevators here, but unless they’ve been upgraded, that’s another factor to consider. The ones at 2626, down the street, were pretty terrible when I lived there.
It’s simply not realistic to ask $2 million to live at 2500, even if it’s combined units on a high floor. Good luck to the seller, but this is probably going to have to come down a lot. Should be interesting to watch.
“ The ones at 2626, down the street, were pretty terrible when I lived there.”
At 2626 they are in process of replacing one at a time, which takes six months per elevator. So that means the building is down to just 3 working elevators (including freight) until early 2025. It’s a ~500 unit building.
There’s only one newer (less than 50 yo) building on Lakeview / Lincoln Park West. It is a wonderful area, but you are going to be stuck in an older unit if you want to be on the park. Older buildings all have ongoing and expensive maintenance. I’d much rather buy into one that has beautiful vintage features and probably built better than any of the 70s era ones.
https://www.redfin.com/IL/Chicago/2350-N-Lincoln-Park-W-60614/unit-1N/home/13349102
This building has amazing views. I wish there was a floor plan.
I love that they used the 7-inch floors throughout the entire space. They’re also the perfect color: neutral. Gray floors are out. I hope none of you put those in.
I’m shocked no one has complained about the assessments being too high.
There is slim pickings if you wanted something in the only new building on the Park which is 2550 N Lakeview. Just a few units on the market. Largest is 2140 square feet. That one listed at $2.445 million.
https://www.redfin.com/IL/Chicago/2550-N-Lakeview-Ave-60614/unit-N2104/home/185881849
Can you even get 4 bedrooms for under $2 million anywhere else on the Park?
That’s unfortunate about elevator repairs at 2626. Seems like that’s been going on awhile. I wonder if that’s why I see so many units there on the market. When we lived there in the late 90’s there was a rumor that there was actually a fifth elevator shaft in case they ever wanted to have four passenger plus one freight. Never was installed and may have been a myth.
The 3-bedrooms at 2626 go for around $650,000 to $750,000 and represent a decent bargain at around 1,700 SF if memory serves. I might look at one if a high-floor ever became available, but my wife wouldn’t consider moving back. Lack of in-unit W/D was one of her complaints, and so were those windows that you can’t leave open without having them slam shut in the wind.
“ there was a rumor that there was actually a fifth elevator shaft in case they ever wanted to have four passenger plus one freight. Never was installed and may have been a myth.”
That’s accurate. The HOA considered adding the fifth during this round of projects but ultimately decided it was not worth the cost.
“ Lack of in-unit W/D was one of her complaints”
Not sure what the rules were in the 90s. But now in unit W/D can be added!
Under contract.