Get a Big 1-Bedroom with Lake Views: 2550 N. Lakeview in Lincoln Park
This 1-bedroom in Lincoln Park 2550 at 2550 N. Lakeview in Lincoln Park recently came on the market.
Lincoln Park 2550 was constructed in 2010 and has 218 units.
It was the first new high rise built on Lincoln Park in decades.
It’s a full-service building with a parking garage and unique features like a 1.25 acre private park.
This unit is large at 1411 square feet and has a direct east view, including from the 108 square foot terrace, which overlooks the Lake, Park and Harbor.
It has 10’8″ ceilings with both crown and base moldings.
There are 5″ plank oak floors.
The listing says there’s a chef’s kitchen with Snaidero cabinets, granite counter tops, a breakfast bar and luxury appliances by Wolf, Subzero, and Miele.
The bedroom has a marble spa bath.
The unit has central air, washer/dryer in the unit and 2 deeded parking spots are included.
Listed at $1.19 million, can a 1-bedroom in Lincoln Park command a price over a million dollars?
Barbara Proctor at @Properties has the listing. See the pictures here.
Unit #S9-06: 1 bedroom, 1.5 baths, 1411 square feet
- Sold in July 2014 for $900,500 (included 2 parking spaces)
- Currently listed at $1.19 million (includes 2 garage parking spaces)
- Assessments of $945 a month (includes a/c, gas, doorman, cable, clubhouse, exercise room, indoor pool, exterior maintenance, scavenger, snow removal, billiard room, theater, game room.)
- Taxes of $18,701
- Central Air
- Washer/dryer in the unit
- Bedroom: 14×13
- Living room: 23×17
money aside, lovely unit, not sure who that’s practical for, but that building is awesome and has great facilities. I’ve never been inside it, but always enjoy being on that strip of Lincoln park.
only $7750+ a month with 20% down… jeez thats bonkers
Totally bonkers.
1400 square feet but no dining area?
This one is a co-op and almost twice the size for less money.
https://www.redfin.com/IL/Chicago/2440-N-Lakeview-Ave-60614/unit-8B/home/45507562
Or better yet, this one and shove the extra $4500 a month into an ETF.
https://www.redfin.com/IL/Chicago/2400-N-Lakeview-Ave-60614/unit-1404/home/13366370
I lived in this same unit on the 4th floor for 2.5 years. The space is awesome if you are single, a couple or empty-nester. Only issue is the small fridge, but again, I had no problem. Personally I loved this floorplan. Tons of room for a dining table but the way this unit is staged there seems to be a bunch of dead space.
I looked at buying the 10th floor unit last year which I think closed for just over $1M but only had 1 parking spot. This unit still looks to have the original developer carpeting which is garbage… only a $2k fix. IMO you need to be on the 11th floor or higher to enjoy the lake view. That summertime picture looks like it is from the 20th floor.
One more thing…. “ChicagoDog” I also lived in 2400 Lakeview for 5 year and you cannot remotely compare the two buildings. It’s like comparing a Toyota Camry to a Bentley.
“It’s like comparing a Toyota Camry to a Bentley.”
Yep, one of them is ~2/3 less expensive, and the both serve the same basic function.
Ever unit I’ve ever seen advertised in this building looks beautifully appointed. It does seem like a lovely place to live. Still, I can’t imagine spending this much and not even having a den, let alone an extra bedroom. I assume the people marketing these are looking at wealthy East Coast transplants who think this is all the space you can get for $1 million.
My guess is this isn’t for someone who would actually use it as a primary residence. I am not seeing tons of clothes let alone winter clothes in that closet. No one lives in this particular unit full time and never has – – – it’s more like an uber exclusive time share except you don’t have to share and the extremely high club pricing keeps the riff raff out.
There are things about this association and First Service Residential’s management at this building which would make you run from this place. Certain people in charge of this building have too much time on their hands and no experience managing a 5 million dollar budget. FSR is possibly the worst management company that could’ve been given a contract for a condo like this…at least given the 2 main managers there now. In the past, it was different. Now, I think the RA in my college dorm was better at managing our hall than these two are. Instead of actively managing the place, they spend time having doormen and maintenance guys police residents. E.g., they will come out to the “1 acre park” and tell you that you have “1 too many guests at the tables in the back” or if you put something “unapproved” to block the drafts under your door…it has to be removed or you’ll “unbalance the air system,” and so on (it’s not true – all of this is selectively enforced). I know this is how condos are, but they do these things at the expense of getting more important things done. It wasn’t really like this in earlier years (before FSR took over and the association became an entity with power).
[Edited]
If you want to read the 2+ year lawsuit between the developer and the association (which is still ongoing), it’s case number 2016-L-009932 you can put into the Cook County database. They can’t even settle it – it’s already past discovery and depositions. A lot of it has to do with the garage, which has been under re-construction for several years.
Someone else mentioned it barely being lived in. In general, the place is not very crowded. This is a second home for many people here, and many people travel a lot for work. Another type who might buy this unit is the type who already lives next door and wants it for a family member who visits twice a year (this happened a few times already).
It is true that the units are well-appointed, though the newer management has made doing renovations ten times more difficult, so that’s probably going to slow down. Also, our loading dock is on Deming, just East of Clark. The freight elevator in the tower – on another floor. So, it is extremely far (plus 2 elevators) to get people in and out of here to do renovations, moves, etc…on top of the approvals, vendor insurance requirements, and scheduling. In general, condos aren’t easy to renovate. This place is much harder to renovate than most, now. I’ve talked with other residents who have those “perfect looking” condos, and many of them had their interior designs done specifically for the units off of floor plan dimensions, as the tower was going up. So, every little thing was ordered in advance and customized. And, now it all looks perfectly put together (and the budgets were pretty high). I think the building generally attracts people who want a very perfected kind of look inside their places too, though some photos may be partially staged or digitally staged.
Just a reminder, Crib Chatter rules are that we don’t discuss the owners of the units unless they are public people (or they reveal themselves on this site. Lol!)
As a resident at 2550, certain statements from the prior commentor about the building needs to be corrected. There has never been a lawsuit between the association and developer. The lawsuit referenced is by the association against certain specific subcontractors to recoup costs for certain work issues. The underground parking garage is not under reconstruction. The association is applying a more resilient waterproof floor sealant than originally applied. It is being done it stages so as to minimize resident inconvenience. the building is very well maintained. I find living at 2550 to be very easy and worth the expense.