Get a Vintage 2/2 with a Private Garage for $449,000: 2221 N. Lincoln in Lincoln Park
This 2-bedroom at 2221 N. Lincoln in Lincoln Park just came on the market.
I can’t find an age on the building but it’s old and has 5 units and is a self-managed association. It was converted into condos in 1999.
This unit has the only private garage for the building, which is down the side alley. That garage includes some additional storage.
I thought we had chattered about this unit previously, as it was last listed in 2015 after it was completely renovated, but it sold within days so I didn’t have time to post on it.
The unit has many of its vintage features including original oak mill woodwork with custom, solid oak built-ins including a hutch in the dining room.
It also has ceiling medallions in several rooms.
The kitchen was renovated in 2015 and has white cabinets, stainless steel appliances and stone counter tops.
The master bedroom has an en suite bathroom, which is rare in a vintage unit.
The bathrooms were also renovated in 2015.
Because it’s on the corner which faces the alley, the unit has two walls of windows, including a bay window.
Along with the private garage, the unit has the finishes buyers look for including central air and washer/dryer in the unit.
It has come on the market at $449,000.
Is this going to sell in a week again 5 years later?
Mariah Dell at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.
Unit #1N: 2 bedrooms, 2 baths, 1500 square feet
- Sold in June 1999 for $129,000
- Sold in May 2001 for $250,000
- Sold in August 2014 for $268,000 (included garage parking)
- Sold in June 2015 after renovation for $395,000 (included garage parking)
- Currently listed at $449,000 (includes garage parking)
- Assessments of $295 a month (includes exterior maintenance, scavenger)
- Taxes of $6338
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 14×13
- Bedroom #2: 13×12
- Living room: 17×12
- Dining room: 15×14
- Kitchen: 13×11
And it’s above Allende – I’d never cook my own dinner again!
Nice place but for close to a Half mil, I’m not living above a restaurant
what kind of income can you earn on this? amazed at Chicago prices net of carrying costs, even for someone living here.
Presuming there are no issues with the association or any pending special assessments, I think this will sell quickly. The size and location are great for a single person or childless couple and the monthly fees are reasonable. Thank goodness they kept the vintage touches with the various remodels! Those will appeal to buyers tired of the typical post war bowling alleys in this price range.
This will sell..it’s reasonable priced for size and location.
Maybe 50k of updates , some paint , rugs, and art and this can look like your standard yuppie west elm / cb2 / pottery barn condo.
That being said, living above Allende must suck – I imagine the place HAS to smell like tacos. And I believe they are a popular late night spot for drunks.
“You just found your unicorn.”
It’s not too far off, other than being on Lincoln, and no outdoor space. Would really benefit from a storage room, too, aside from the garage space (unless the garage space is at least 15′ wide).
It ain’t even close to 1500 sf, tho. Unless the floorplan is hella wrong, it’s certainly under 1300, and might be under 1250.
It would be nice to put french doors on the wall between the living room and bedroom 2, then put the tv in what is now bedroom 2. When the baby arrives, that room will suffice until they move. Obviously that reduces the pool of prospective buyers, but so do constant taco aromas, late night drunks outside one’s window, and Lincoln.
I can’t imagine spending this much to live here. This stretch of Lincoln is a giant frat house for Depaul at night. And there is no space to grill a hotdog. No thanks.
I would go crazy with no outdoor space (I would also need to buy a new larger wardrobe b/c of the lure of tacos), but otherwise this place is pretty great.
I wonder what the roof rights situation is? Could the association add a roof deck?
“I wonder what the roof rights situation is? Could the association add a roof deck?”
Looking at the dec, the roof is a common element, and the commercial spaces are part of the same association. Neither of the commercial units alone can block changes, but the two together can. 3 residential units (a 1/1 behind/northeast of the featured unit, and another 2/2 facing Lincoln). Doubt the commercial owners would agree to making roof decks limited common elements for the residential units w/o reallocation of percentages (I wouldn’t).
The garage space is a separate unit, and, to this realtor’s credit, the taxes on it are included in the listed tax amount.
“what kind of income can you earn on this? amazed at Chicago prices net of carrying costs, even for someone living here.”
It would rent out for at least $3,000 a month, right? Maybe even $3300-$3500.
A vintage 3-flat near me with no parking and no amenities and an inferior location to this rents its 3-bed 2-bath units to DePaul students for $3200/mo for the garden and $3,500 for the top floor. Adjusting for location and parking vs. the lack of a 3rd bedroom I would say this could probably garner at least $3,500 and maybe as much as $3,750. Students look at their share of the rent, not what the unit costs, and frequently the bank of mom and dad or copius amounts of student debt are funding the living expenses so the rents skew higher. Also, the type of tenant who would choose this over a professionally managed larger rental property would do so for the lack of oversight. If they are anything like the students near me, they just want to smoke weed and get drunk constantly without the hassle of an on-sight manager cramping their style – – I feel like that actually gets a premium in rent in certain crowds for this being above a taco joint. Seriously….the more I think of it, they could rent this out for $4K a month. What’s a little “eau de cannabis” on top of taco grease?