If They Build It, You Will Buy It: 2521 N. Ashland in Lincoln Park
This 6-unit new construction building at 2521 N. Ashland in Lincoln Park went on the market about a month ago.
3 out of the 5 units currently on the market are already under contract.
The 5 units on the market are priced as the following:
- Unit #1N: 4/3 duplex down, $499,900, Under Contract
- Unit #1S: 4/3 duplex down, $499,900, Under Contract
- Unit #2S: 3/2, $379,900
- Unit #2N: 3/2, $379,900
- Unit #3: 3/2 penthouse, rooftop deck, $599,900, Under Contract
Garage parking is included with each unit.
They have white cabinets in the kitchens (white is “in” now), stainless steel appliances and wine coolers.
The kitchen island is a bit different- with a table island attached.
Is this bigger table like island the next big thing in kitchen designs? Is the traditional “island” now out?
There is the usual central air and washer/dryer in the unit.
Several months ago, we talked about a different property about 2 miles north of this location on Ashland. Some of you wondered “who would live on Ashland?”
Are the contracts in this building yet another indication that buyers simply want new? (and that new construction will be “back” in 2012?)
Izabela Sloma at Sergio & Banks has the listing. See the pictures here (they have the same pictures for each of the listings in the building).
[On a side note: I actually looked to see if Joe at YoChicago had made a video of these units as Sergio & Banks is one of his clients. Alas, there isn’t one.]
This is pretty interesting. All these Sergio and Banks listings have the same look – e.g. that kitchen island – but I don’t know if they’re all Noah Properties or if there are several builders producing similar properties. Regardless, there is so little quality product out there that this stuff sells itself and goes under contract in a matter or weeks. Sergio and Banks has a pretty sweet deal.
Thanks for checking for a video, Sabrina. I’m scheduled to be there this afternoon and will have a video live later today.
The address is 2521, not 2512.
Joe, who is the builder?
Don’t know yet, Gary.
If anyone has any other questions I’ll do what I can to get answers for them.
“Is this bigger table like island the next big thing in kitchen designs? Is the traditional “island” now out?”
No and Yes. This island is unique and works here, but it wouldn’t work in every space. The traditional island is being replaced by a double or dual layer island (there’s some fancy term for it that I cannot remember and will google later).
“The address is 2521, not 2512.”
Whoops, slip of the fingers. It’s been fixed.
Theres not a lot of new construction in the sub 500k segment. Aboyt the only two developments I know of are this & that one near halsted & diversey. And this one looks a whole lot better & is 100k less iirc
I don’t really get matching these semi-traditional interiors with the modern exterior, but whatever. The finishes look nice.
I too like the finishes. How much (ballpark) for me to update my kitchen to look like that?
The exterior would be very difficult for me to get past. The interiors seem quite nice. I still wouldn’t want to live in such a small association. I don’t think these will hold their premium after a year or two.
A bunch of these have been popping up in Wicker Park (really East Village) in the past few months. One on Wood, one on Marshfield, one on Haddon, and one on Hermitage. Most/all are by the same builder and look identical. All of the lots have sold for 200-350k. I guess you can build three units and sell for about 500k each and make a decent profit.
Jack Welch said the housing market is at the bottom, so buy now or be priced out forever.
I want to start off the week right so i will refrain from my feelings on Sergio & Banks here today.
“They have … wine coolers.”
“… and thank you for your support.”
On Ashland, near Fullerton. No finishes are glitzy enough to overcome that. Basically $400-$600k to experience the sights, sounds, and smells of gridlock traffic on Ashland.
“How much (ballpark) for me to update my kitchen to look like that?”
Do you have to move any utilities to make it work? If not, the labor wouldn’t be too bad, and the total would depend on your material/appliance selections, which could pretty easily be $10k (+labor) or $100k (with a $7k fridge, and $10k of cooking tech).
I was surprised to see how nice the interior looked when I saw that hideous exterior, it almost looks like a 4+1 just frickin hideous with that metal crap on there
TB has it nailed. The southbound traffic going into Fullerton/Clybo is horrific, often backing up north of Wrightwood. This is on the NB side, so you get a whole median to not block you from seeing traffic out your front windows for many hours a day.
I’ve been driving by this every day for the last 6 months. I don’t like the external brick color but other than that I think that these are quite nice. Mostly, it just reflects that nice stuff that is priced well will sell. The fact is, land is cheaper and pace of construction has slowed down, so it’s easier to build nice stuff at a more attractive price point. Location is not great but these will get buyers who want to buy “new in Lincoln Park” and don’t have many other options on this price range.
I love those floors. I would have put wide planks in my current home if there wasn’t already so much narrow plank that we were adding on to, although I think that wide plank is quite pricey.
Why would anyone pay this much to live on Ashland??? Complete insanlty.
Nice finishes and priced right. Finally, something a bit more modern in LP. I can’t say I’d care to have a duplex down on Ashland, but to each his own. Easy to get to the metra and the highway.
“I want to start off the week right so i will refrain from my feelings on Sergio & Banks here today.”
Don’t hold your feeling back…that’s what leads to someone going postal
Nice finishes and design. Location is not for me. Too far west. Busy street. Not convenient to public transit. Don’t like duplex downs. I’d only go to a basement if there is a pool or ping pong table. No way I would sit in one let alone sleep in a basement. Good luck to the buyers with this small association. If one or two don’t pay, you’re in trouble. Price seems high to me for this location. At least $50 g’s too high. But of course what the heck do I know?
If I had to guess, I’d say that the builder is Ultimate Homes – I’m pretty sure they did the homes that Sergio & Banks has sold in “West Bucktown”, some West Town, and Bucktown (23XX McLean).
“although I think that wide plank is quite pricey”
Yes that is true on the per square foot basis but don’t forget that the installation labor cost should go down slightly as it is much quicker and easier to install. We did it and I do think that it looks better.
The ones that are under contract definitely seem big and nice for their price, but I’d rather not live in Lincoln Park than to pay this much to live on Ashland. For $500-600k, I want a side street, even if it means not having a LP address!
No one has noticed the disco-ball light fixture in the second bathroom? Is this a new 2012 trend?
Also, check out the “additional rooms”. Last I checked, balconies, decks and walk-in closets were not rooms!
BTW this look is nice and refreshing however in 10 years it will be the same as looking at the light maple cabinets with a mid tan granite counters and a wood covered appliance package from 2000- 2004 era or the dark cherry rubbed maple cabinet paired with SS appliances and black countertops from 2004-2007 era. I do like it now but it will pass.
As for the island table I think great idea and that it will become a lasting option. We have a 10×4 island with a row of stools on one end. When we are alone it works but when friends are over my wife is constantly pulling a stool over to the end so that she can face us when we eat. The integrated seating where people are seating across from each other is a much better solution.
B9: “No one has noticed the disco-ball light fixture in the second bathroom? Is this a new 2012 trend?”
It is “OFF THE HOOK” as the listing sez.
Also: $275k for the two teardowns, from the lender, post fc. $926k for the two of them in Aug-05.
Last minute change – video rescheduled to tomorrow.
So, at list, $2,084,500-construction costs, transaction costs, etc=profit. Not bad at all…
Photos of what used to be at this address…. The graffiti is a nice touch.
http://www.urbanrealestate.com/property/2521-N-Ashland-CHICAGO-IL-60614-JRLUTTPHYZHIA.html
“Photos of what used to be at this address”
And the neighbor (also torn down):
http://www.urbanrealestate.com/property/2519-N-Ashland-CHICAGO-IL-60614-XJHY3JLLRBESQ.html
Jack Welch needs to be drafted back to GE, dead or alive. If dead run GE like weekend at Bernie’s with strings and all.
Jack Welch stripped GE of value, which is largely why they are in the zombie-like state they have been in for the last 7 years or so.
I’m 90% sure that this our builder again – indeed Noah (formerly Ultimate Home) property. They’ve been busy!
Video from 2521 is live at YouTube:
http://www.youtube.com/watch?feature=player_embedded&v=G2Dqk1kLOJ0
The developer is Noah Properties. Every one of the many units I’ve been in from this builder has a similar look, but every one differs in the details.
The third floor of this building is unusual – a 2,000 square foot unit with an 800 square foot terrace at the same level, rather than two units.
As you might guess there’s a lot of interest in the remaining two units.
Wrightwood Park, which is directly behind this property, was almost as much of a kiddie Calcutta today as it is in the summer. It’s a nice neighborhood park that helps counterbalance the Ashland Ave location.
Noah Properties has a number of other developments in the pipeline, including several in Lincoln Park. Get in touch with Izabela Sloma for an advance peek at the details.
Sabrina’s already disclosed that Sergio & Banks is one of our clients.
The finishes are really nice in 2012, but in 2022 they will look dated and the property is located on Ashland. Developer is getting the deal here, not the buyers.
I like a lot of the features of this place, but I can see why these units are the last to sell. The second and third bedrooms were pretty blah to me, and without a family room the living space is kinda small. Can you access the deck from the hallway Joe, or do you have to march through your bedroom? I definitely think the top floor unit is the one to have in here.
The public deck is above the garage and it’s accessible by a door off the hall. There’s a private balcony off the master bedroom.
Boo to only getting to the private deck through the bedroom. I hate that!
“The second and third bedrooms were pretty blah to me, and without a family room the living space is kinda small.”
Yeah, what they did was take the space of a 2/2 and make it a 3/2 with two smallish auxiliary bedrooms. They moved the kitchen more to the front, diminished the LR space, there is no dining area at all (so they use the island instead. To crunch all of this forward gives enough room to add two bedrooms in the middle, whereas most often it’s just one.
One of the secondary bedrooms is 14×10, which isn’t exactly small by contemporary standards.
There is a dining area if you want one, though there’s not one shown in the video. Here’s a pic of the other second-floor 3-bedroom, with a dining area modeled.
http://wibiti.com/images/hpmain/561/282561.jpg
Now there’s no room for a TV! (I don’t think the LR in the video has a television either.) If that 3rd bd. is 140 sf, then it comes out of the LR sq. footage, which is a buyer’s choice as to whether that’s a better configuration or not, the rectangular perimeter dimensions of the simplex remain the same, with same overall sq. footage. Correct?
Unit #2S and #2N have both been reduced $30,000 to $349,900.
those two remaining units are not worth it @ 349. They need to trim another 20k off n they’ll be good to go.