If They Build It You Will Buy It: New 3-Bedroom Luxury Lincoln Park Condos at 2753 N. Lakewood
This new construction mid-rise with an elevator at 2753 N. Lakewood (at the corner of Lakewood and Diversey) in Lincoln Park was recently completed.
It has 6 three-bedroom units each with indoor parking.
The model currently on the market is 1480 square feet on one level.
It has luxury finishes including a tray ceiling.
The kitchen has white cabinets, stainless steel appliances (a Viking stove?) and stone counter tops (but I can’t tell what kind of stone those are from the pictures.)
Listed at $549,000, is there a market for higher priced new construction when within just a block or two of this building there are 3-bedroom units listed in the $300,000s?
Or will buyers still simply buy the “new”?
Fern Krause at FK Real Estate has the listing. See the pictures here. (warning! Music)
Unit #2E: 3 bedrooms, 2 baths, 1480 square feet, 1 car parking
- New construction
- Listed in December 2011 for $549,000
- Currently still listed at $549,000
- Assessments of $260 a month
- Taxes are “new”
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×13
- Bedroom #2: 13×10
- Bedroom #3: 11×10
- Living room: 21×15
- Kitchen: 15×9
I thought this would be closer to the park, but Lakewood and Diversey is still considered LP? Will people buy these who cannot afford SFHs and start raising kids in urban apartments like they do in other cities in the world? If the choice is living like HD, moving to Park Ridge or Niles or Palatine, not being able to afford a GZ single-family, perhaps people will start choosing these?
Looks like quartz.
Range is a Thermador.
Yeah, probably quartz. Something man-made.
a 3 bedroom unit and the washer/dryer are in the kitchen? no thanks.
counter tops look like Kashmir White granite to me
Same developer adn architects as the Ogden Slip townhomes from earlier this week.
The finishes seem slightly off. At least the model is a mix of traditional and modern and I don’t think it works well in this example….
Kitchen reminds me of 334 W. Menomonee, but “modernized”.
I would be curious to know how these places actually “feel”.
1480 square feet is not great for 3 bedrooms and 2 full baths.
My standard has always been that you need at least 2000 square feet for that configuration in order to have enough living space.
not just “warning! Music”. I’d say: “warning! really BAD music!”
The washer/dryer off the (or basically in) the kitchen does seem weird, but worse is the fact that there’s only space for such small washer and dryer units. Especially for a supposedly 550k unit!
“worse is the fact that there’s only space for such small washer and dryer units”
Those really look like full size units to me.
What’s the ipad thingy?
Will people by a BMW when there are Kias available for fraction of the price? This is a weird question if this property has better finishes, amenities, and what not sure it can sell for more. Prices are meaningful in terms of comparable properties not just nearby ones. Location is only one decision variable.
“Listed at $549,000, is there a market for higher priced new construction when within just a block or two of this building there are 3-bedroom units listed in the $300,000s?”
“What’s the ipad thingy?”
My guess is a integrated lighting/climate/entertainment control device/dock. I have seen quite a few high end build outs that utilize wall mounted, hardwired iPads to control home systems that can also be accessed remotely through an associated iPhone app.
“My guess is a integrated lighting/climate/entertainment control device/dock. I have seen quite a few high end build outs that utilize wall mounted, hardwired iPads to control home systems that can also be accessed remotely through an associated iPhone app.”
Figured was something like that. Seemed odd to me that it was docked like that and not fully wall mounted. Seemed a little awkward to use while it was on the wall/docked.
Nice place. Nice ceilings/walls, really nice kitchen and baths (for the price), nice little outdoor space, and it has a garage. But it’s not a nice location, and they’ve tried to cram too much into 1480 sq ft.
What have those places over on Lehman (the Post Office alley) at Diversey been closing for (if at all)? They should be the (rough) comp. They’re not as new, and I don’t think they’re 3 beds, but as lousy as Lehman is, it’s a much better location than this place.
I’m not crazy about the location. This is a dull sort of area. Diversey has nothing to offer over here. You’re not too far from Lincoln, which is a little better.
I agree with those who say 1500 feet is too small for a 3/2. Sounds like you’d be very cramped. Price needs to go down.
“Diversey has nothing to offer over here. You’re not too far from Lincoln, which is a little better. ”
Now the entertainment options have to be on the same *street*? Lincoln is exactly 1 full block (1/8 of a mile) from this location in *2* directions.
Cramped and over priced by about 100k.
“I’m not crazy about the location. This is a dull sort of area. Diversey has nothing to offer over here. You’re not too far from Lincoln, which is a little better.”
It’s not dull. Lincoln and Sheffield are easily walkable from here, as is Southport. Ashland is a short drive away, with that large Jewel just down the street, to boot.
If you want to call out anything, call out the units being on Diversey itself if side-street is more your “thing.” Parking is not hard at all over here, and it’s very easy to get around via walking and transit.
It doesn’t have the density of SELV, but some people grow out of SELV.
Just recently I found myself walking underneath the balconies of these units, wondering to myself if it was absolutely necessary for the developer to build so close to the sidewalk that residents above could drop items directly onto the heads of passersby below.
I lived in this hood 12 years ago & still dearly love Powell’s book store. But the traffic on Diversey is heavy M-F nearly all day long and esp during the summer when boaters etc. head for the harbor. I can’t imagine hanging out on the balconies of these north-facing units, or enjoying their livingroom setting while taking in the sun’s shade and the sights & sounds of a never-ending stream of very nearby buses & cars. It’ll be interesting to see where these units trade in relation to Sabrina’s other recent Diversey Blvd post:
http://cribchatter.com/?p=13344
RE: SqFt…it’s difficult to say, since I haven’t walked the unit or seen a floorplan, but I since this is a center entry 6 flat that length wise faces the street, the space should be more efficient (no long corridors) than the normal 3/2 in a 6 flat that faces the street width wise. The corridors can easily eat up 200sqft.
Not to mention the lack of sq. footage and odd location of w/d in a 3/2 condo, does no one realize this unit is the middle floor of a three story building AND it faces the alley? At least put the model on the top floor and have it face the side street! Who wants to live with people above and below them on an alley in a small 3/2 with their washing machine chugging away in the kitchen feet from thier living room TV?
I’m sure someone will fall for new…but I wouldn’t touch this place!
If I had to guess, it will take years to sell these at $275K.
Long time lurker here, I’ve seen a few people here talk about finding a seller’s mortgage information. Can anyone tell me where this info can be found? Thanks in advance.
It always surprises me when I see new construction go so much against the grain of what buyers in an area actually want. (Even though it shouldn’t as it happens so frequently). Who signs off on these things? This thing is a mess.
They jam 3 beds into 1500 SF to try to attract families. But fam buying in LP don’t want to be on very busy street. That’s why they’re looking in LP and not d-town/GC etc. Families also have lots of laundry and lots of food. They like laundry rooms even if it’s the S/S halway nooks so they can set ‘next load’ basket on top of freq running machine. On same note they love having a kich pantry to put their 4lbs of cereal and 16 roll paper towel pk they buy at Costco. I can hear Mrs. Buyer now opening the W/D door and saying I wish this was a Pantry’. Etc. Etc.
My opinion is they should have made cool 2/2’s. Huge LV with great high end kitchens. Big 2nd bed that had private door to 2nd bath. (So bath had two doors, bed and hall). And then an awesome master with amazing bath.
Then in my opinion they’d have a market. The newly engaged/married fab couple with plenty of cash. That would normally buy in hip DT highrise. But have decided on LP because they’re of course going to someday soon/probably/more than likely want to start a family. But in the meantime, they don’t want to assismilate into the ‘kid filled newer construction walk up 3-flats’ that dominate the area.
But hey- I may be wrong and they’ll sell out at list by summer. LOL
The place is really attractive but it doesn’t make it as a “luxury” condo and I feel it’s overpriced by $200K.
The kitchen is sadly deficient. This kitchen doesn’t have enough storage space for one person, let alone the family of 3 or 4 that might want a 3 bed 2 bath apt. Worse, the washer/dryer combo is consuming valuable space in the kitchen. Why isn’t it in a hall closet close to the beds and baths?
The cabinetry is very cheap and will fall apart in three or four years.
The apartment feels cramped and claustrophobic. Any unit of more than a couple would feel really crowded in here after a few months.
Ok – I stand corrected on the location. I haven’t heard of Powell’s book store. Is that a branch of the famous one in Portland, Ore.? If so, I’ll have to check it out.
I agree with those who said this would have made a better 2/2. I don’t see why you’d try to attract families to a place like this.
Better to avoid a $.5 million condo over storefront arrangement; could wind up living over another barbeque restaurant-bar.
“This kitchen doesn’t have enough storage space for one person”
Good grief, how much shit could you possibly have that this is too small?
Dan #2, the Powell’s on Lincoln is most likely the original Powell’s. It’s my favorite haunt of decades and has been there at least since the 80s. It was considered to be THE major Powell’s then. I wasn’t aware of the Portland Powell’s until lately and I’m not sure it’s the same operation.
1500 sq ft is plenty enough room for a family of three or four if it is laid out correctly. Many of our parents grew up in 1500 sq ft houses or smaller in the suburbs.
1500 sq feet is 3 beds, a den, a living room, a dining room a kitchen, a small office nook, and uncounted sq ft includes 2 baths and a laundry room.
1500 sq foot condo like this seems cramped.
So, hd what makes this place seem so cramped if you can fit all that in 1500 sq. ft.? I agree that a 1500 sq. ft. Bungalow seems bigger than this. Why?
@ dude, the cabinets on the LHS contain the washer and dryer. So besides the pantry on the RHS and the cabinets in between there is not that much space. Remember the cabinets under the sink are pretty useless so actually for a 3BR targeted at a family, this is a small kitchen IMO.
“Good grief, how much shit could you possibly have that this is too small?”
Don’t forget, the 1500 sq ft bungalow usually has a basement for the washer, drier, furnace, hot water heater and other stuff that must be packed into the condo somewhere, consuming precious floor space. The SF also has a yard where you can put a little “playhouse” for the kids and a garage to act as a repository for seasonal stuff, vs a tiny storage locker in a condo- if you even get that.
A family of three or four can easily have 8,000 lbs of belongings without being compulsive shoppers or hoarders. Three beds, a sofa,and plus chairs and coffee table bookcases, desks, dressers, side tables, baby cribs, changing table, dining table and chairs, storage unit/wall unit for a massive array of the type of belongings a typical middle income American family usually considers essential, clothes for all seasons, books by the thousands, a swelling dvd collection, hobbies, bed and table linens, baby stuff (think THOUSANDS of little bibs and frocks and receiving blankets), and thousands of other items too numerous to catalog. I’m a single woman and by most people’s yardsticks I don’t have as much “stuff” as normal folk as I make a point of clearing clutter on a twice yearly basis, and have put my music collection on my laptop in the form of MP3 files so I could dispose of my “boutique” stereo system and voluminous music collection. Yet if you multiply my stuff by 3, it would fill a 2200 sq ft house easily.
As the builder of these new condos, we’ll add our two cents to help clarify the comments and add some insight:
-That video music is really bad. We need to get the video service to stop that.
– People like new construction so much more, and are willing to pay the cost of new homes, because :
* we have an elevator, it’s not a walk up
*we have attached heated parking, not a carport or steep, awkward driveways
*we have every luxury feature, latest technologies, and units with incredible roof top decks
*we have better sound insulation between the units and within the unit
*we have a greener building with more efficient systems and thermal insulation
*we have low maintenance, cavity wall masonry construction, not split-face block walls that leak no matter what you do
* we have a structurally solid building that the City now requires, not the inferior construction that used to be permitted and is now deteriorating
– Solid, quality construction initially costs more and the value over cheaper, older buildings is there.
– The countertops are natural granite that resemble quartz but wear better
– The range is a Viking Professional model
– The cabinetry is custom made with long lasting details such as solid maple boxes with dove tail connections. It will not fall apart.
– The washer/dryer are full size Whirlpool Energystar stackables. The location allowed us to design the hall and master bath much larger with a walk-in steam shower with bench, a separate water closet with door, a six foot air-jet tub in the hall bath and more storage. The tradeoffs of a laundry room in this home are not worth it.
– The iPad thingy is an in-wall iPod dock connected to the speaker wiring throughout the home. High end phone/cable/ data distribution is included.
– We encourage you to actually come in to feel the space and not only rely on pictures. You will be pleasantly surprised.The price would be 30% higher for a 2000 sq ft 3 bedroom unit.
-Realtors and prospective buyers who know the cost of new construction and the prices of newly built comparables have found the price points are at fair market value. New townhouses across the street on Diversey cost more per square foot, and are as high as $1.5 million.
-This Lincoln Park location is great, because it is nicer to live in the less congested part with easy parking, yet be within walking distance of Lincoln Ave, the CTA trains and Lincoln Park/Lakeview attractions.
– Three bedroom condominiums are attractive not only to families, but also to couples, singles, empty nesters, and couples starting a family. Our model shows how the third bedroom functions well as a guest bedroom, office and media room with two closets and pocket doors. A three bedroom condo doesn’t have to be giant to feel good.
– The media room arrangement allows the option to not have the big screen t.v. over the fireplace in the living room that is typically seen.
– The building has a small office space on the ground level which is a chiropractic office with a long term lease and an option to buy. There are firm recorded covenants (i.e. no food/liquor service) as to how this space can be used for protection of the residents.
We appreciate the comments and hope you are able to visit our weekend open houses to experience the design, features and superior construction that we incorporated into this terrific new building.
Ben: the stagers are using a bedroom as the ‘den’ and the living/room/dining room/ kitchen seems a bit small. Especially if you have kids running around. No basement, no ‘den’ so to speak and I’m sure theyre including the bathroom and mechanical space in the sq footage. The developers have made a conscious decision to make smaller luxury units rather than simpler units with more space. These are over 300psf. Come on!
Are yesterday’s comments going to post ??
How’s it work??
I looked at this unit and it is really nice, especially compared with anything else in this price range nearby. There are many luxurious touches, normally seen only in high end homes or downtown fancy condos, like custom kitchen and bath cabinets, beautiful granite and marble tiles and counters, steam room in master bath, Viking commercial stove, custom trim throughtout, heated garage with elevator to the unit. It is near the el and on the north border of Lincoln Park near the action on Lincoln Ave. It’s not for everyone but it is special in alot of ways.
[miumiu]
Laura had commented that the kitchen did not have enough storage for even ONE person… which is ridiculous.
Powell’s started off in Chicago, and the one in Portland came later — same family (at the time, that is – the one here is no longer owned by the Powell family)
p.s. Powell’s started in Hyde Park, of course, NOT on Lincoln (ahh, Northsiders and their ignorance of the real Chicago…;-)
“Long time lurker here, I’ve seen a few people here talk about finding a seller’s mortgage information. Can anyone tell me where this info can be found? Thanks in advance.”
For those who are new to Crib Chatter (and the ways of finding out mortgage info):
1. You will first need the PIN number. You can search for it by the address of the property in Cook County at cookcountyassessor.com. Redfin’s site also lists the PIN but it is only correct about 80% of the time. I recommend going straight to the source which is the assessor’s site.
2. After you have the PIN number, go to the Cook County Recorder of Deeds at ccrd.info to search for mortgage and deed information on the property. (Use the PIN search feature.)
Viola!
One of the three bedroom duplex up townhouse like units down the street on Lincoln (just north of Diversey) that we’ve chattered about in the past has been reduced to $359,000. It has more square footage than these new units and is the duplex (which some buyers like more than having everything on a single floor.) Finishes aren’t luxury like these new units though.
“We appreciate the comments and hope you are able to visit our weekend open houses to experience the design, features and superior construction that we incorporated into this terrific new building.”
Thanks for checking in OgdenPartners- so we can get the details straight from the developer’s mouth.
“I would be curious to know how these places actually “feel”.
1480 square feet is not great for 3 bedrooms and 2 full baths.
My standard has always been that you need at least 2000 square feet for that configuration in order to have enough living space.”
Someone should go to the open house and report back. I think they have one every weekend.
As the owner of a “luxury” 3/3 condo, I’m rather glad to have a small laundry room off the kitchen rather than loose cabinet space. I’m fine without a wide hallway, a separate water closet, or huge tub in my hall bathroom. I use the kitchen cabinets much more than I’d ever use a guest tub and who cares if I have to poop in my bathroom instead of a separate room?
– The washer/dryer are full size Whirlpool Energystar stackables. The location allowed us to design the hall and master bath much larger with a walk-in steam shower with bench, a separate water closet with door, a six foot air-jet tub in the hall bath and more storage. The tradeoffs of a laundry room in this home are not worth it.
The price would be 30% more because they are about 30% bigger…and the bigger places would be worth it because they are more usable and versatile.
“- We encourage you to actually come in to feel the space and not only rely on pictures. You will be pleasantly surprised.The price would be 30% higher for a 2000 sq ft 3 bedroom unit.”
*lose not loose!
My home is 900 sq ft, and there are four of us living in it. My kitchen has more storage than this and I still have to store some things in my hall closet. Is the open living room/kitchen/dining room the only living area? That’s a very small room for 4 people to be living in, especially since you have the washer/dryer in there. Good job they only have 6 of them to move I guess.
The developer makes some good points – High end finishes and elevators are not cheap
Price per sq is high though
Ogden Partners, I was going to ask “What’s the future plan for the undeveloped land directly south of your building?” but I found my answer:
http://www.redfin.com/IL/Chicago/2717-N-Lakewood-Ave-60614/home/40277674
I had hoped there might be some public green space carved out between your building and Schubert Ave, but I ought to have known better.
One question: Diversey is 2800 North. Your bldg faces Diversey, runs parallel with it, even overhangs it slightly. Why is your bldg’s address 2753 N. Lakewood instead of, say, 1255 W. Diversey?
Did anyone notice that the first photo of the living room – looking toward the kitchen has no dining room table. Then, by magic, there is a shot of only the “dining room”. Fact is, not much room for a dining room.
If the kitchen is in the living room and the laundry is in the kitchen, ergo the laundry is in the living room.
Not my cup of tea.
Wojo. I bet you know the answer. Which address would you rather have?
“One question: Diversey is 2800 North. Your bldg faces Diversey, runs parallel with it, even overhangs it slightly. Why is your bldg’s address 2753 N. Lakewood instead of, say, 1255 W. Diversey?”
Wojo: I think you already know the answer to this question. In fact, when I was first looking for a listing for this building- I did a search on Diversey addresses and didn’t find anything so I thought, “they haven’t listed anything yet.” But whoops- they HAD listed it (just under the Lakewood address.)
Ogden Partners is building public green space on the block!! Working with the community for two years on the land planning, we will construct an open landscaped green space on the corner of Schubert and Lakewood that will feature a path, benches, trees, plants etc. We hope to have it completed in 2012.
There will be more multi unit buildings on the Diversey end of the block, and SFH’s on the rest of the land.
Regarding green space, there is a pretty decent little pocket park right across Diversey on Wolfram and Lakewood. Tolerable walk or quick bike or bus ride to tons of stuff to do at Clark St to boot.
However, the loss to Chicago of the old Hostess factory outlet is pretty steep (and the “Bargin Wednesdays” sign was a classic, left uncorrected to the very end) – where will kids get 6 month-old Twinkies for a dollar a dozen?
Are the train rails still in place? I hope those at least stick around so there’s some vestige of the area’s industrial past.
“open landscaped green space on the corner of Schubert and Lakewood that will feature a path, benches, trees, plants etc. We hope to have it completed in 2012.”
If it’s not too late, please hire a landscape architect firm that will do something basic, time-tested, proven, HARMONIOUS, etc. in a normal tradition, not like the “contemporary” park in the West Loop (Adams & Sangamon ) which is garish and was just an exercise in ego for the designers.
How much does the elevator add to the cost? If divided by 6 (units), what’s the incremental cost per unit? If builders are going to be marketing 3 bds. to the GZ market that cannot afford the $800K+ SFH, the elevator will be a great selling point with women especially, which can help them make living on the top floor tolerable with kids, groceries, etc.
Long time lurker as well..Great site Sabrina..I think it is great that the developer has responded to the critique of their project.How often does that happen? While you might not agree with the price point, it does seem that more thought has gone into this development than the comps that are being discussed.
I’d be curious to know how many people who have commented on the develpement have actually visited the building. This building is a welcome alternative to the poor quality red brick condo buildings that are scattered throughout Lincoln Park. First and foremost….where will you find covered attached parking, an elevator and outdoor space in Lincoln Park for under $600,000? Not to mention custom cabinets, top of the line appliances and interesting finish carpentry. These units may not be for everyone but they do offer exceptional design and nicely layedout space. I loved the formal vestibule and the ability to turn the third bedroom into a media room. The kitchen space seemed more then adequate and had a closet to keep you cleaning supplies in. I would encourage people to go see for themselves. If excellent design and quality workmanship matters to you, check out these units.
helmethofer (February 6, 2012, 9:05 am)
How much does the elevator add to the cost? If divided by 6 (units), what’s the incremental cost per unit? If builders are going to be marketing 3 bds. to the GZ market that cannot afford the $800K+ SFH, the elevator will be a great selling point with women especially, which can help them make living on the top floor tolerable with kids, groceries, etc.
Its got to be $400-500K is my best guess..
I don’t think they are marketing to people buying a $800K SF home in the GZ
They are marketing Quality finishes and against the split block leaking 2/2 that went up all over the city from 2002–2006. I don’t see this place as a family alternative to a SF. Its too small
I could surmise why the street address was Lakewood and not Diversey, but I wanted to hear the developer’s answer.
And yes, the train rails are still intact running down the middle of Lakewood.
fyi Sabrina, sale of this Lakewood Ave mansion is “pending”:
http://www.redfin.com/IL/Chicago/2731-N-Lakewood-Ave-60614/home/40277833
“I don’t think they are marketing to people buying a $800K SF home in the GZ
They are marketing Quality finishes and against the split block leaking 2/2 that went up all over the city from 2002–2006. I don’t see this place as a family alternative to a SF. Its too small”
But if you’re not a family, then why pay so much? Buy a nice-enough condo for far less. If you do have kids, and want to stay in the GZ, and cannot afford the SFH prices, then this option is about what’s left. Because you want an elevator with kids, and you desire the same finishes your SFH peers have. Why would a single person want to pony up the $$$$ for this versus the comps?
I thought the elevator would be about $80K total, just a guess….so just over $10K per unit. I agree the units are SMALL for 3 bds. and a family would have a tough time. Had the developer been able to make these 1,800-2,000 sf they could be a SFH alternative for the relative impecunious people who really don’t want to have to move to the suburban-cliche areas like Stevenson HS area, Deerfield, or Naperville.
Paid $80K for an elevator in a new construction building. Contract was originally for $57K, but I don’t think you can get it done for that.
Of course maintenance and repairs going forward is a whole other issue.
*** $80K for a 4 story building, that is.
Miu, I think the “pantry” on the RHS is the fridge….so there really is VERY little cabinet space for a family or a single person.
“@ dude, the cabinets on the LHS contain the washer and dryer. So besides the pantry on the RHS and the cabinets in between there is not that much space. Remember the cabinets under the sink are pretty useless so actually for a 3BR targeted at a family, this is a small kitchen IMO.”‘
$80K for an elevator – seems cheap. I wonder why nor more bldgs have them
Anyone know why this property was taken off the market?