Is 2550 N. Lakeview in Lincoln Park Now One of the City’s Top Luxury Buildings?
This 3-bedroom on the 14th floor of 2550 N. Lakeview in Lincoln Park came on the market in February 2018.
2550 N. Lakeview was the first new high rise built on Lincoln Park in decades.
Constructed in 2011, this luxury building had difficulty selling all 218 units due to the housing bust.
Currently, in 2018, it has 18 units on the market with 4 of them under contract including a $4.35 million unit.
This 3-bedroom is a combined 03/04 unit with 3 terraces and 360 degree views including of the lake.
The living room has a gas fireplace with an imported Italian marble mantle.
The kitchen has white cabinets, granite counter tops and backsplash, with Wolf, Miele, Subzero appliances and a wine fridge.
There’s a master suite with his/her walk-in closets, double sinks and a soaking tub.
The unit has a paneled media room with a gold leaf ceiling, built-in couch, and a “70″ HDTV, 3D enabled, 7 speaker surround, built-in blu ray & Apple TV.”
It has modern finishes expected at the million dollar price point including a Crestron Smart Home & Media System wired for music, climate, shades, & lighting.
The unit has central air, a full sized washer/dryer and 2-car garage parking is included.
2550 N. Lakeview is a full amenity building with a pool, an in-house theater, a clubhouse, an exercise room, a billiard/game room, a spa, a sauna and a dog run.
Originally listed at $3.85 million, it has been reduced $175,000 to $3.675 million.
Has 2550 N. Lakeview finally lived up to the hype when it was first announced over 10 years ago as one of the top luxury buildings in Chicago?
Lisa Borelli at @Properties has the listing. See the pictures and floor plan here.
Unit #1403-4: 3 bedrooms, 3.5 baths, 3712 square feet
- Sold in September 2012 for $2.79 million
- Originally listed in February 2018 for $3.85 million
- Reduced
- Currently listed at $3.675 million
- Assessments of $2089 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $49,167
- Central Air
- Washer/dryer in the unit
- 2-car parking included
- Bedroom #1: 13×14
- Bedroom #2: 12×12
- Bedroom #3: 12×13
- Library: 11×11
- Family room: 17×12
- Gallery: 10×12
“The unit has a … “70? HDTV, 3D enabled, 7 speaker surround, built-in blu ray & Apple TV.”
Wow, all of that for $3.6MM
Nice views and not a horrible place but this price point, I would expect more
I AM SAD LOLZ. WOOD EXPEKT A 80′ TV SCREEN LOLZ.
OLD STYLE KEGGER PARTY FO SHURE!!!!!!
I was expecting much nicer finishes for 1k a sqft
This is a nice building with great views, and one of the few high rises in the area so might be able to command a premium. I can’t imagine paying that amount for this place but am not the target market.
agreed above finish is a little lacking, but it’s a stunning building, stunning location, stunning views, and excellent amenities, including the little walkway park area behind the building. I can see someone with huge amounts of dough deciding this is a great place and reno themselves. price tho, no idea either way.
“360 degree views”
…Not from the 14th floor. Looks like the views south and north are into the adjacent buildings. You can see in the living room photos that one side is looking directly into another building. Probably still a nice east/west view. Although, only the east view photo is included.
“360 degree views”
vb- wouldn’t this still be accurate? They’re not saying you have miles and miles of views. 360 views just means you have all four exposures, right? So, yeah, there may be a building there but you still have the exposure.
Beautiful unit, great building, perfect location. Worth $3.6 million? Who knows. Once you get above $2 million or so, the money probably doesn’t make much difference. What’s another $300,000 or $400,000 when you’re already paying $3 million? And taxes of $49,000? No big deal, right?
Yes, if I had big bucks I’d consider this place. But since I don’t, I have to wonder if it’s really worth six times the price of a high-floor 3 bedroom next door at 2626 (see listing below). The buildings are no comparison, and you get a lot more space in 2550. But you don’t get six times the space, and the location is the exact same. View is arguably better (but no balconies).
https://www.zillow.com/homes/for_sale/2088280356_zpid/41.975125,-87.56301,41.885473,-87.716818_rect/12_zm/
Quick addendum to last comment: View at the 2626 unit is arguably better, just to clarify what I meant.
I really don’t like this location. You are far from the lake, far from the Kennedy, parking is impossible for guests. Give me GC/north Streeterville where the lake is at the front door, restaurants and shopping are at the front door, the Ontario feeder ramp is 5 minutes, and parking is pretty easy because there is much turnover. I never did see the LP location as the be all and end all.
“Far from the lake”
If you consider a 5-minute walk far, not to mention seeing it out the window in its full glory.
I agree that some buildings like 3150 Lake Shore that are right on the lake do have more dramatic water views, but I can’t agree that this location is “far” from the lake. You do have the right not to like the area, of course. That’s subjective.
@Sabrina – “there may be a building there but you still have the exposure.”
I’m not going to count “exposure” as a view. If the view is into a brick wall or a building next door, it’s not much of a view – even if light manages to enter the space.
The difference between “view” and “exposure” is personal preference, but to me I want at least 500 feet (about a block) of empty space before I consider something to be a good view.
YMMV
I’m not really a fan of high rises and tend to prefer LP a bit farther south, but still think this location is pretty great and don’t see being on the park and a short walk to the lake is any drawback at all.
But of course preferences vary.
Dan, unless you have some kind of jetpak on your back, you aren’t getting to the lake in 5 minutes from that location. More like 10-15. In the GC you can cross the street and be at the beach and have an incredible sweeping views. But anyway, obviously many people see value in LP. I prefer GC.
“Sabrina on November 1st, 2018 at 10:18 pm
“360 degree views”
vb- wouldn’t this still be accurate? They’re not saying you have miles and miles of views. 360 views just means you have all four exposures, right? So, yeah, there may be a building there but you still have the exposure.”
If you reference the floor plan, this thing barely has 180 degree views…
“nearly 360 deg views”
That’s realtor-speak. It’s the same as 1400 sf being “nearly 2500 sf”.
In the sage words of Mario Greco, “it’s just a number”.
I’m not going to debate the merits of language within this listing but I’ve lived in LP for 20 years and there is not a better high-rise to call home (lived in LP2550 for 3.5 years). The building is one of the best in the city, period.
Regarding views, I’ve lived in both the north and south tiers. B/C the building is offset from LSD, you have amazing views of the park/pond/lake/harbor/downtown from every room in east-facing units. Sure you could be on the 14th floor of a GC building on LSD and it lives like a cruise-ship…. all you see is water unless you are standing at the window. I’ll take the 10 min walk to lakefront path.
The finishes are all high-end (including common areas) but some kitchens and baths are starting to become dated. We have had 40+ sales in the building since January, many at $1,000PSF, proving that something is working right for a building that is approaching 8-years old.
Another important item to point out is that ceiling heights range from 9-12 feet. On certain low floors they are higher but the standard is 9 & 10 feet up to floor 15…above the 15th floor they are 10 & 11 feet. You can’t get that in any renovated unit and it makes the building/unit live like a home, not a cramped high-rise.
PDubbs, we all want to think the place we chose to live was a smart buy. Or else if you hate where you live and say it, it appears one isn’t so bright. But, I take issue with the “best in the city, period.” Quite Trumpian and his inaugural crowds. “Biggest, best inaugural crowds from any president anywhere in the world, ever in the history of mankind. Especially Obama’s. period. That’s it. Period. The end. “
But, glad you like your place. I’m not all about living near a zoo, or the other things I talked about.
“best in the city, period.”
Fake news! What PDubbs actually wrote was:
“one of the best in the city, period”
and those two little words would have made the Trump-stupidity accurate, as well: the ’16 crowd was *certainly* smaller than the ’08 crowd, most likely smaller than the ’12 crowd, and around the same size as the ’92 crowd. It was almost certainly larger than any other POTUS inauguration crowd, thus making it “one of the largest ever”, as a top 4 (or maybe 3) out of 47 inaugurations that have been held outside.
so, perhaps “one of” signals “top 5” or maybe “top 5%”.
Alternative Facts!
It’s all the same…the point is to say your building is the best, one of the best, the worst, one of the worst buildings is so subjective depending on a hundred different factors. One of the most important factors, is..where else has PDubbs lived in order to make such a statement? What PDubbs could say is “this is, by far, the best building I have lived in, period. It still doesn’t mean that much as he could have lived in the old Cabrini towers prior. But I take PDubbs at his word that he enjoys his place.
anon… Do you have *any* factual basis that Trump’s inauguration crowd was in the top 5%?
“Do you have *any* factual basis that Trump’s inauguration crowd was in the top 5%?”
Well, first off, top 5% of 47 is only 2, and I noted it was likely top 5 total, so more like 10%–but applying top 10% to PDubbs assertion would be weak sauce, so translated to
40 of the 47 held outside were held not on the Mall, but rather (mostly) the East Portico of the Capitol. There simply isn’t space for the few hundred thousand that were certainly there.
There have been 9 inaugurations on the Mall–the elections of 80, 88, 92, 96, 00, 04, 08, 12, 16. Pix from 81 show almost no one across the reflecting pool; 89, everyone seems to be east of 3rd SW; 93 had a lot of tents, so somewhat hard to judge, but generally regarded as a much larger crowd (hence my waffling on 3 v 4); 97 was decidedly smaller, again looking like everyone is E of 3rd SW; 01 and 05 for W are generally viewed as bigger than 97, but maybe half of 93. 09 and 13 were both bigger than any before, and bigger than 17.
ergo, top 5 (most likely, top 4).
“where else has PDubbs lived in order to make such a statement?”
And where have you lived to challenge the statement?
Personally, I have no idea, having not lived in a high rise.
ps: Top 4 out of 9 actual comps, and pretty close to overall average in count. So, top 4 and also, essentially, average.
“One of the most important factors, is..where else has PDubbs lived in order to make such a statement? What PDubbs could say is “this is, by far, the best building I have lived in, period. It still doesn’t mean that much as he could have lived in the old Cabrini towers prior.”
A casual reader of the site would know that he’s surely never lived anywhere like Cabrini, has lived in (or looked at places in) several other nice buildings (including elsewhere on Lakeview Ave), and generally has shown a working knowledge of projects such as 2550 (from a developer/debt or equity standpoint).
OK, for a minute there I thought that you might not be using scientific methods… Uh, so, very convincing… ?
“Uh, so, very convincing… ?”
Ok, so, present me with some scientific methods to show it was NOT a top 5 crowd for an inauguration. If what I present is so very without basis, it should be a cakewalk to debunk. Right?
And, please note, we are talking about the actual inauguration, only, and not counting any parade/procession attendance along Pennsylvania.
Haha… You’re joking, right? Clearly you are not a scientist or a journalist…
“crowd was in the top 5%?”
I can’t believe we’re still talking about this two fucking years later!
So, jack, the sum of *your* argument is “that is contrary to my beliefs, informed by nothing other than the principle proponent is an aggressive liar”? Extraordinarily convincing, that.
Hope everyone voted!
Lol, came here to hear discussion about 2550 N Lakeview; instead got to read arguments about Trump’s inauguration crowd. Never change, CC.