Get a 3,000 Sq Foot Vintage Apartment for $675,000: 399 W. Fullerton Parkway in Lincoln Park
This 4-bedroom in 399 W. Fullerton Parkway in East Lincoln Park came on the market in June 2019.
Built in 1926-27 by McNally & Quinn, according to Chicago Apartments, it’s in the French Renaissance style.
It’s an exclusive building with just 2 units per floor and just 32 units in the 17 story building.
It’s also unusual for a building in this period in that there’s a garage on the first floor. Garage and guest parking is available in the building.
It has 24-hour door staff.
Here’s an interesting tidbit: the building stands on the site of the former Loeb estate which stretched along Fullerton Parkway.
Nellie Loeb was the daughter of Adolphus Busch, the St. Louis brewer.
This unit has views overlooking the park and lake.
It has wood crown molding in the living room along with a gas fireplace.
There are hardwood floors in the living and dining room.
The listing says there are hardwoods under the carpet in the bedrooms.
The kitchen has white and black (gray?) cabinets along with Subzero appliances.
It has central air and radiant heat along with washer/dryer in the unit. Valet garage parking is available for $300 a month.
If you’re thinking about what this apartment could look like remodeled, the sister unit, #14E, is also available.
It’s gone under contract at $1.495 million but you’ll get some ideas of the possibilities.
You can see the pictures here.
Originally listed in June 2019 at $899,000, it has been reduced $224,000 to $675,000.
Given the price of the sister unit, is this a deal for someone who wants to do a renovation?
Randy Nasatir and Jeremy Steward at @Properties have the listing. See the pictures here.
Unit #14W: 4 bedrooms, 3 baths, 3000 square feet, co-op
- I couldn’t find a prior sales price as it’s a co-op
- Originally listed in June 2019 at $899,000
- Reduced numerous times
- Currently listed at $675,000
- Assessments of $4549 a month (includes heat, doorman, cable, exterior maintenance, lawn care scavenger, snow removal and taxes- which the listing says was $1856 a month. That means the rest of the assessment is $2593 a month)
- Taxes included in the assessments
- Central Air
- Washer/dryer in the unit
- Valet garage parking for $300 a month
- 1 fireplace
- Bedroom #1: 19×12
- Bedroom #2: 20×13
- Bedroom #3: 16×12
- Bedroom #4: 13×9
- Living room: 29×16
- Dining room: 19×14
- Kitchen: 17×13
- Foyer: 14×8
I think the assessments (includes RE tax) are closer to $5,200/month. It is worth checking. 14E lists assessments at $5600, so about $5,200 would be consistent for 14W.
This is a beautiful building, but there is no access to outdoor space and just one parking spot per unit. 442 W. Wellington is very similar to this building, but it has lovely outdoor space, sport court, and two parking places per unit plus guest parking. The assessments are also lower.
“Nellie Loeb was the daughter of Adolphus Busch, the St. Louis brewer.”
So the land is cursed
Is that really a window AC in the kitchen?
WTF is the flooring in front of the FP – Linoleum or Masonite? Was some inlay removed?
The kitchen table looks pretty pathetic
Credit for not being a choad and painting the wood trim
They really need to throw some money into this place or its going to languish for a long time. “The listing says there are hardwoods under the carpet in the bedrooms.” – Should be the first thing done. Stockroom shelving in the den is next.
Kind of a shame. I like this place but to bring it back to its glory days would take a lot more FU money than I’d be willing to invest
“They really need to throw some money into this place or its going to languish for a long time.”
Looks like an estate sale to me — the recipient probably wants to unload it as quickly as possible as it’s eating up $5k per month.
“Looks like an estate sale to me — the recipient probably wants to unload it as quickly as possible as it’s eating up $5k per month.”
Agreed on estate sale or similar. Too bad they’ve burned up $90k+ already trying to sell. Throwing that into the unit would have made a big improvement in trying to sell
The owners either got bad advice from the Realators or the Realators should have run away. Either way they’ve screwed themselves.
“taxes- which the listing says was $1856 a month ($22,272 pa)”
So it’s taxes are about the same as condos elsewhere asking $1.5m–14E listing doesn’t show (that I see), but would assume they’re roughly equal. It’s rough having the under-improved place in a co-op.
“Looks like an estate sale to me”
Appears the owner is not dead, but likely has moved to some assisted living situation. Appears to be ~90.
The listing price for this unit is an amazing bargain. Haven’t seen anything this cheap in the building in ages, especially for a high floor, east unit (these are the preferred units because they have the extra room in the front, which is often used as a den or library-the west units only have an LR and DR in front).
If someone could pay cash for this unit (by selling a house, let’s say, and moving), the monthly expenses become a bit more in the realm of possibility. Still, those monthlies look crazy high. With parking, you’re talking close to $5,000 a month, no mortgage included.
This is a wonderful building and people raise families here and live here for decades. Last time I was there, it even featured a doorman who took you up the elevator. Not sure that’s the case any more (it’s been close to 20 years).
If I were rich and starting a family in the city, can’t think of a better building.
I have friends that have a full floor in this building on a slightly lower level…
Valet will park your car as a guest and the doorman will take you up if you so desire… otherwise you can take yourself up…
When the friends bought 4 or 5 years ago, I think it ranked as the most expensive apt/condo sale in the city that year…
with the full floor, they have two additional service elevators which is nice…
biggest downside is the lack of outdoor space, but Lincoln park is right outside the door… these folks have three kids… (Parker is right around the corner)
“If I were rich and starting a family in the city, can’t think of a better building.”
Co-ops can be wonderful places to raise a family because generally you are able to get far more square footage for your money, often half floor residences, like in 399 W. Fullerton. The square footage of the units in 399 rival some single family homes and, obviously, all the SQ is above grade. If 399 had private outdoor space and more than one parking spot per unit, it would be ideal for families. Yes, the park is right outside, but you get that with most buildings and it’s not the same as a private sport court. At this level of assessment, there are other co-op buildings in the general area offering similar square footage with more more parking and private outdoor space. 442 W. Wellington and 2440 N. Lakeview are good examples, although I’m sure there are others.
“Appears the owner is not dead.”
Ummm, how’d you determine that?
It seems a little ridiculous that parking requires an additional fee in such a small and extravagant building. Though if you’re living here, $300 per month is pennies.
“Yes, the park is right outside, but you get that with most buildings and it’s not the same as a private sport court.”
That awesome co-op on Lakeview Ave comes to mind (a unit in it was discussed on here recently). But I’m wondering to what extent affluent co-op members with, say, grown or no kids, are willing to tolerate members with younger kids playing in that stately private yard that building has. Some kids can be destructive and very loud. We spent 2.5 years in the Marlborough overlooking the park and then 2.5 years overlooking Parker’s playing field (thus the fields south of the Shakespeare statue and Conservatory became our primary play zone). We had assumed that we’d raise our kids in ELP or the GC, but left when our kids were about 2 and 5. Six years later, had we stayed, I think at least one of our kids would have been banned from Lincoln Park by now.
“Ummm, how’d you determine that?”
Google-fu.
As I said–appears. Feel reasonably comfortable about identification of owner, and find no evidence of death. But, if I am correct, ~90 yo, so…maybe dead but no trail (yrt) on tehGoogs.
@anonny
This is why the private sport court is so important. Rather than having kids running around and bouncing balls in the unit above you, they can take all that energy outside in a secured space. AND, a building with a sport court will have agreed upon rules, like no playing after 9 p.m. It’s a nice system. By the way, kids aside, private outdoor space with grills, tables, and a fire pit, can be a very nice amenity.
https://www.compass.com/listing/442-west-wellington-avenue-unit-2w-chicago-il-60657/483344518947865689/
“They really need to throw some money into this place or its going to languish for a long time.”
Makes no sense to pour money into this place as it is. A new buyer is going to do an extensive renovation of it. Removing some shelving and showing off the floors under the carpet isn’t going to do anything. It’s going to languish because the condo market, in general, sucks. You’ll either have to rehab the entire thing or suck it up as is and wait for the right buyer willing to do it.
“Kind of a shame. I like this place but to bring it back to its glory days would take a lot more FU money than I’d be willing to invest”
I agree, you’d have to be in market for a 1.3-1.5m property for it to make sense. This place is priced 800k below the updated comp listed that is under contract. I’d guess someone, with the means, can make this place great and be below the comp listed.
“Makes no sense to pour money into this place as it is. A new buyer is going to do an extensive renovation of it. Removing some shelving and showing off the floors under the carpet isn’t going to do anything. It’s going to languish because the condo market, in general, sucks. You’ll either have to rehab the entire thing or suck it up as is and wait for the right buyer willing to do it.”
Agree that the Condo market sucks. It its current state, its pretty far gone. IMO throwing $100k into it would have made a major improvement in how the unit was perceived and how manageable the reno would be for the clientele at this price point and at would have reduced the time on market. But then again its easy for me to spend someone elses money.
8E IMO is much better than the other unit (14E) and $300k cheaper. Though it would be fun to have $800k to kit this place out
I have been inside other units in this building and I am not impressed. The ceilings are low and the windows are very small, with the best views facing North. The windows facing South overlook the rusting fire escape and in general natural lighting is lacking.
Although there are only two units per floor, your front door is side-by-side with the next door neighbor, which is always awkward at best. Floor plans are choppy with a lot of little rooms with little purpose, i.e. sewing room, red room, etc.
From my perspective, the building doesn’t exude luxury at all. It’s just plain stuffy and old. I can’t imagine anyone under the age of 60 being interesting in owning in this building and certainly not young families.
I think its geared toward ‘old’ buyers relocating from the East coast who think co-op living will impress their boujee friends and family.
Many better options in Chicago for the discriminating buyer. No thanks.
As recently as 2014, the building’s assessment was $1,235,000–meaning that Berrios “thought” the 32 units were worth $12,350,000 total.
Currently assessed for $3,352,609, which is at least not batshit–valuing the average unit over $1m.
“8E IMO is much better than the other unit (14E) and $300k cheaper.”
That MLS reported sale price either reflected an allocation of ~$100k to personalty, OR they got a good deal from someone who wanted O.U.T. after trying to sell for 2 years. FMV spread more like $200k. And the ovens are *way* too high, unless you intend only Dutch buyers.
Looking at the floor plan reminds me of so many fun times spent in another unit in this building with the same plan. In that one, bedroom 3 was opened to what’s called the “breakfast nook” in this unit, making it a great game room for us teen-agers.
I couldn’t understand why everyone was saying this place needed so much work, then I realized I had clicked on the link to 14E instead of 14W.
For a minute there, I was thinking “DAMN, the chatterers have some ridiculously high standards.”