Looking for a New Construction Condo in East Lincoln Park? 2753 N. Hampden
This 4-bedroom in Hampden 53 at 2753 N. Hampden in East Lincoln Park just came on the market.
This is a new construction 15-unit boutique building with heated garage parking.
It’s an elevator building where the elevator opens directly into your unit.
This unit has high end upgrades.
The kitchen has Archicesto cabinetry and Wolf and Subzero appliances.
The living room has a wet bar with a wine fridge.
There’s a large 12×15 terrace and an office.
It has central air, washer/dryer in the unit and two heated parking spaces are available for $50,000 each.
It’s been several years since there has been any new condo construction in East Lincoln Park given that most of the neighborhood is already built.
There is, however, another new boutique building going up next door (I’ll have more on that in another post.)
This 4-bedroom is 2982 square feet which is as large as some single family homes.
Listed at $1.799 million, will these new luxury units sell quickly given this location?
Raj Patel at Core Luxury Real Estate has the listing. See the pictures here.
Unit #B4: 4 bedrooms, 4.5 baths, 2982 square feet
- New construction
- Currently listed at $1.799 million
- 2 parking spaces available for $50,000 each
- Assessments of $473 a month (includes security system, exterior maintenance, lawn care, scavenger and snow removal)
- Taxes are “new”
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 14×15
- Bedroom #2: 10×12
- Bedroom #3: 10×12
- Bedroom #4: 11×12
- Laundry room: 6×8
- Office: 9×9
- Family room: 13×15
Interesting read on the market. 11 of the 15 units went under contract in 2017 & early 2018. Of the remaining 4 units, only 1 has received a contract in the past 12 months; with the remaining 3 just sitting.
It’s safe to say the market is dead and these buyers, similar to the buyers at 445 w Arlington, will be holding the bag in a few years.
Unit B4, which is listed at $1,799,000, is also now listed as a rental for $8,995 per month. I wonder how those contracted buyers feel knowing the market is so bad the developer is planning to rent the rest of the unsold units.
Not good…
Even more interesting is the unit mentioned here for sale and rent is unit B4. There is a 4B that is listed as pending at $1,800,000. Same unit with the ever so deceiving units # flip? Nah…
Looks like the building is not as “sold out” as it appears. We have a pending unit being re-listed before it’s closed at a lower price? and for rent too?
Shenanigans perhaps?
The unit itself looks very nice. But I have questions about the building. What amenities are there? Is there a door staff? The HOA looks very low for this sort of a unit, so I wonder where the corners are being cut. For this sort of price, I’d want a decent exercise room and someone to take my packages. I’d also like a view, but that’s not necessarily something everyone wants.
One other strike against is that it’s looking directly across the street at one of the homeliest 1970s high-rises in Lincoln Park. I guess there’s nothing to do about that.
Another strike: It’s nearly $2 million for the condo and I still have to pay $50,000 for a parking space. Seems parsimonious.
“There’s no doorman so no one is getting your packages.”
This is an issue in this new day. Did they put in a room with lockers so that the packages could be kept private? That would make sense to me but I’m not sure the developers are up enough on the issue of “packages.”
It doesn’t look like there are any amenities. You are paying for the location and can just join the gym up the street.
An exercise room in a boutique building takes up too much space. The developer can’t monetize that.
In a small building like that you don’t want “amenities” – they add cost and with that small of a group of owners, create friction. An exercise room actually adds a bit of liability for the association as well (I’d rather have storage myself).
On packages – the delivery services (Amazon in particular) are the weak link, many times they leave them outside in random locations, don’t buzz to be admitted to a locked vestibule or simply don’t delivery yet sign their paperwork/app as having done so.
So if it has an exclusive room for package delivery the place is a great deal, but if it doesn’t it’s not?
When did we start valuing our real estate based on “package delivery” options?
I can tell you from battle scarred experience that a lot of board meeting time in small buildings (roughly the size of subject property unit-wise) is taken up by complaints about package delivery which the board has made clear is “at your own risk.”
nice place but why put those upper cabinets over the cooktop. sure, there’s a hood underneath but they will get trashed.
There’s an Amazon pickup/return location a couple blocks away on Clark. If the package situation sucks, just use that. I have all mine delivered to the Whole Foods a couple blocks away. Unfortunately, that gives the wife an excuse to go buy overpriced produce.
“nice place but why put those upper cabinets over the cooktop. sure, there’s a hood underneath but they will get trashed.”
I thought the same thing Marco.
Doesn’t anyone cook any more?
I recently saw a magazine spread with a home renovation and they put shiplap as the backsplash and it said, “you don’t need to put up a tile backsplash” and all I could think of was “how do you clean that painted shiplap?” as it was also on the wall behind the stove.
Doesn’t anyone make spaghetti anymore? Or maybe I’m just a messy cook and everyone else is pristine?
Lol.
“I can tell you from battle scarred experience that a lot of board meeting time in small buildings is taken up by complaints about package delivery”
Yep.
Most people don’t realize how much is actually delivered. In some of the big new high rises they report a 1,000 packages a day (this is with hundreds of apartments and during the holiday period.)
It’s a big deal now.
I’m surprised they haven’t put a locker room in the building so everyone could have an assigned locker (like Amazon does at Whole Foods or other pick-up locations.) This is easy to do in new construction.
But I feel like builders/developers are older and are going off the old play book and don’t get what the Millennial buyers are looking for now.
The problem with a package room in a small building is still access, from outside and for owners/tenants. You don’t want delivery people coming into the building and having access, both to the units and to the packages. And they take up a lot of space in small buildings that needs to go to units or mechanical space. And then if you have lockers there has to be a contract, fights over contract, what if the service goes under and you have a useless set of unoperable lockers?
we had a package room at 630 N franklin that was kind of a disaster depending on who was delivering…you’d have some lazy ass mail workers just pile up boxes in there so bad you could barely open the door, other times you’d have the mail person or tenant organizing all the packages by which shelf/floor they need to go do… there weren’t a ton of thefts but they definitely existed. We had a key fob to open the package room door and it was definitely a pain when it wasn’t working!
At the townhouse, it also depended on who was delivering the packages. The amazon delivery people would literally just chuck the boxes over the fence… the UPS and fedex and USPS would actually take them to your door at least, but even then people are dumb and leave boxes out in front of their house for 5 days so they would get stolen too
most of the time people getting packages stolen from a condo is their own fault. If its a super important package that is easily steal-able, ship it to your work or somewhere safe, moron!
“I recently saw a magazine spread with a home renovation and they put shiplap as the backsplash”
the new thing is to use fiber cement board (hardie) to achieve the look of shiplap but add more durability.
“The problem with a package room in a small building is still access, from outside and for owners/tenants.”
Really? In brand new construction? They can’t figure out a side-door to allow the package delivery guys to enter?
The postman comes and goes and no one seems to think this is a problem.
This building has 15 units. It would be one extra room with the lockers. The lockers are easy. Again, all of you people on here must be OLD. Go look at any of the new construction apartment buildings. Many of those have the lockers now. And Amazon runs lockers in every Whole Foods. It’s so easy.
This is a modern amenity that buyers demand, in my opinion. I’m not spending $2 million to have my packages co-mingled or stolen from the package/mail room. But maybe that’s just me.
“They can’t figure out a side-door to allow the package delivery guys to enter?”
I’ve had amazon delivery not be able to get into a place with amazon lockers. So, yeah, they cannot figure out a side-door that won’t outwit some of the delivery people.