Looking for New Construction in Lincoln Park? 1005 W. Webster
This 6-unit building at 1005 W. Webster in Lincoln Park just started marketing units for June delivery.
The units are all 3 bedrooms, 2 baths, with 1800 square feet and 1 parking space included.
The units will have luxury upgrades including Grohe faucets in the bathroom and a Viking stainless steel appliance package.
Prices are as follows:
- Unit #2E: $759,000
- Unit #2W: $739,000
- Unit #3E: $749,000
- Unit #3W: $699,000
- Unit #4E: $875,000
- Unit #4W: $849,000
These are pictures from a bunch of different units (also not sure they’re actually from the building- as delivery isn’t available until June- but it gives you an idea).
Is the resumption of new condo construction a sign the market has bottomed in Lincoln Park?
Jeff Lowe and The Lowe Group at Prudential Rubloff is handling the sales.
See the development’s website here.
Let’s start with the West units have no windows on either side, so enjoy the northern and southern sunlight – that’s all you get.
bay windows look kind of nice, sort of an old school chicago flavor. there was a pizza place here before iirc. they put merkts on their burgers and cheese fries..nice!
Interesting development going on next door to me, it seems that Silver Tower is being foreclosed on:
http://www.chicagobusiness.com/cgi-bin/news.pl?id=37381
a walkup chicago 6 flat for 3/4 of a million ? Please
I wonder if this place is going to have an elevator… still, LOL at the pricing
There is an elevator on the floor plans. Making the prices totally reasonable. Not.
OPEN KITCHEN!!!! YEAH!
errr. I have one too 🙁
Let see. That’s $388 to $471 a square foot.
Yay some $200 grohe faucets, $15 a sqft floors and a 10k stove and fridge… now please explain why this is 800k?
Floors don’t even look that good.
I don’t think those floors are $15 psf. I had two bedrooms done in a condo, ripped out carpet put in the standard Red Oak select or better, and it was $4 psf.
The ccrd amount for the acquistion deed (b/t two trusts) is $210k (obv. not the full price). Construction loan is $3,720,000, which may include all sorts of reserves and protective advance amounts.
No way this is the old Tomato Head site! Woo 800k to live by McGees *and* have a great shared roofdeck for the Sheffield Garden walk!
i’m suprised nobody has noted that this building is right on the el track.
“No way this is the old Tomato Head site! Woo 800k to live by McGees *and* have a great shared roofdeck for the Sheffield Garden walk!”
Also right across from St. Vincent DePaul Church, and catty corner to DePaul’s sports center
“i’m suprised nobody has noted that this building is right on the el track.”
Probably b/c the prices are so absurd on the face of it, that it isn’t really worth digging into the details.
“this building is right on the el track”
It’s v. close, but I don’t share your defintiion of “right on”.
4 sets of El Tracks too…. 3 different train lines
“and catty corner to DePaul’s sports center”
can you imagine the eye candy from your 700k window? almost worth it 🙂
Nice unit, but definitely a bit over priced imho considering you can buy a house for around the same amount. It is a block off the El tracks.
It’s v. close, but I don’t share your defintiion of “right on”.
it’s within one block, which is far too close for anybody paying this kind of money.
the other thing that bothers me is the marketing effort. i’m no way an expert in real estate marketing, but i would expect for the lowe group / prudential to make more of an effort, particularily at this price point and in this market. the web site is not very dynamic at all, which doesn’t give a buyer much (any) motivation to check out the units.
at least one unit (4e) has already been sold. it was sold at or near the list price (875), not including parking. I think roughly ~900 for the unit plus 2 underground parking spots.
personally, i love the unit and the location for the purchaser. he’s in his mid 20’s and the area surrounding the unit is fantastic for him. i was told the train noise wasn’t a big issue with this unit but i cannot confirm because I haven’t spent a ton of time right at that corner.
and no, this wasn’t me who purchased the unit, but it was a friend of mine who works 4 blocks away and has himself a pretty nice place for the next 5-10 years.
as for the price, i told him i thought it was overpriced just a bit but i don’t think nearly as much people here seem to imply. assessments are reasonable, and the roofdeck is a big selling point for him. he’s in a financial situation where money isn’t a huge concern and he’s looking to settle down for awhile.
by the way i am actually looking for a place very similar to this one. for those that say this is overpriced, i would really appreciate some links to some comps that are similar/cheaper/better/whatever. i sure have not found any.
@Tay
I sure wish I could afford a $900k place in my mid-20s.
“by the way i am actually looking for a place very similar to this one. for those that say this is overpriced, i would really appreciate some links to some comps that are similar/cheaper/better/whatever. i sure have not found any.”
2130 N Bissell St its not a comp but its better IHMO
not surprising that a mid 20s wealthy dude would buy a place kitty corner from mcgees. he may be the perfect owner for that spot. now they need to find 5 more just like him.
“2 underground parking spots.”
?? No indication of any underground parking on the website–indeed, it affirmatively says “7 car parking-one garage space per unit”, and teh floorplan bears this out, showing an off-alley garage with (barely) enough space for 7 cars, one of which is shown as a HC spot (for some reason).
“HC spot (for some reason)”
Required per code.
i may have been wrong about underground parking. i am 100% sure he bought two spots, pretty sure they were 25k each.
brad,
yeah, he’s definitely in a good situation. believe it or not, there are smart, hard working people in their 20’s who don’t go out and spend their money on bottles and rims…..
….they just spend their money on grohe and viking….now THAT is being financially savvy 🙂
i kid but seriously, i would appreciate more links and as i said in a previous post, if you’re a realtor you’ll win a client if you can find me something comparable to this place.
tay – I’m sorry your friend got robbed, big time.
Is this guy a professional athlete, or a trust fund kid?
“Required per code.”
In a 6-unit residential building? That’s just dumb.
“i kid but seriously, i would appreciate more links and as i said in a previous post, if you’re a realtor you’ll win a client if you can find me something comparable to this place”
already gave a better option for Tay now and Future Tay
“Is this guy a professional athlete, or a trust fund kid?”
internet business
Sounds like that Australian moguls skiier who had the internet business. Good to hear about young people doing well and being successful, especially outside of the traditional corporate mold. If only there were more incentive for creative and talented minds here in Chicago.
I’m looking for something similar to Tay. If anyone has links of places in the 650k-950k range in the LP/NN area please post them.
Tay,
I’m mainly looking south of Fullerton. Not sure exactly what you’re looking for, but here are a few places in the Old Town area:
Sold for 770k in 2004. Clearly it is overpriced. I would expect it to sell for considerably less. However, it is 6 buildings away from the train, not sure if there would be much noise.
http://www.redfin.com/IL/Chicago/1520-N-Cleveland-Ave-60610/unit-3/home/12656891
If you don’t mind a duplex down:
http://www.redfin.com/IL/Chicago/1507-N-Cleveland-Ave-60610/unit-1S/home/12724603
From what I’ve been told, the pictures don’t do this unit justice. It is a duplex. Has a 24X40 terrace off the main level. I expect this place to sell for a price similar to the Webster units:
http://www.redfin.com/IL/Chicago/1456-N-Wieland-St-60610/unit-P1/home/18244271
“not surprising that a mid 20s wealthy dude would buy a place kitty corner from mcgees. he may be the perfect owner for that spot.”
I am jealous of the dude but if anything we can’t criticize him for having his priorities mixed up. 😀
groove —
2130 bissell doesn’t really do it for me.
i’d prefer to live on one floor and also want something a little more modern, both with the layout and finishes. a large roofdeck and a nice master suite are important to me, i’m not sure this has either.
i agree that for a certain buyer it is a better deal than 1005 webster.
This place is priced about 250K too high. Can’t wait to see how the market reacts.
“i’d prefer to live on one floor and also want something a little more modern, both with the layout and finishes. a large roofdeck and a nice master suite are important to me, i’m not sure this has either.”
1015 webster has on floor and takes the whole floor
or for half the price of 1005 go to 2147 N KENMORE Ave Unit 1S
“2147 N KENMORE Ave Unit 1S”
Duplex, not “modern” in layout or finishes, not much of a suite.
I think the 550 Wellington penthouse is a better fit, but it’s more expensive and set up as a 2/2.
Maybe Garrison’s listing on Halsted, plus an investment in updating/building a deck using the roof rights.
1015 webster #3 is not on the market as far as i can tell… looks fantastic from what i can find.
“1015 webster #3 is not on the market as far as i can tell”
maybe i saw #1 or #2 oops
Lovely places. these places make me cringe at what prices I bought at and see listed now in Old Town. 🙁
“maybe i saw #1 or #2 oops”
#1, with a gator deck. $749k.
http://www.redfin.com/IL/Chicago/1015-W-Webster-Ave-60614/unit-1/home/22534383
tay —
must you absolutely live in lincoln park? i understand it is appealing to somebody of your age and income level, and i’m not judging… but if you have a more open mind to other neighborhoods, your hard-earned money will go further. even if you consider bucktown / wicker park, lakeview, roscoe village which are still very vibrant areas with young professionals.
you’ll find a lot more modern options in bucktown / wicker park. for around $900K, you can get a ridiculous contemporary home in bucktown / wicker park that you could transform into the ultimate bachelor pad!!
good luck with your search.
“must you absolutely live in lincoln park?”
The only way to have Steve Heitman as a neighbor is to live in Lincoln Park.
“The only way to have Steve Heitman as a neighbor is to live in Lincoln Park.”
This is west of Halsted and therefore is not “real” LP, anyway.
Yeah I always suspected the Lincoln Park streetfest was not real but the Fake Lincoln Park streetfest because its not east of Halsted, 300ft from the El, on the sunny side of the tree lined street under the old oak tree.
Nancy:
thanks and I hear what you are saying, but I’d definitely like to live in LP. I enjoy walking to work and my office is near depaul. I know a lot of the cc crowd despises lp, but for someone my age i haven’t really found a better place when you consider all of the factors.
I lived in wicker park for two years and I know what is available over there. I’m willing to pay for location and i’d like a place that will still work for me into my early 30s. That means either a sfh or a penthouse w elevator, and I know it won’t be cheap.
I’ve been purposefully deliberate in my search for the past two years. Unless someone picks up the Wellington penthouse and drops it near armitage and halsted, I’ll probably just keep renting until i’m in a position to buy a nicer sfh in lp.
I do appreciate the suggestions and am hoping I find something that suits my needs.
711 West Willow?
Don’t know if it satisfies all your reqs, and the web presence is crap, but it’s new, modern, and w/in the proper radius.
The only people on here that “despise” LP are either people that love it and the lifestyle and can’t afford it or people who hate being stereotyped as a yuppie but in actuality they really are one.
I’ve met a ton of college educated yuppies who say they live in WP or BT but couldn’t live in Lakeview or Lincoln Park because that’s where the yuppies live. I then have to inform them that yuppie isn’t a pejorative term and is a acronym for young urban professional.
Apparently Hollywood or the media have this messed up image of yuppies being something bad whereas nothing could be further from the truth. There is nothing funnier than meeting a yuppie who doesn’t even know what they are but eschews other yuppies. I then try to inform them politely that they’re a lot stupider and more impressionable than they think.
tay —
i hear you. lincoln park is a great ‘hood for many reasons. it’s good that you know what you want. i think people just have a tough time spending that kind of money on a condo, when a great single family home is within reach (this is my bias). but, if that’s what you want, and a condo better fits your lifestyle, you go!
good luck. you’re obviously doing something right, given that you are in the position that you are. ignore the crabby cc naysayers.
anon (tfo)- any way i can contact you? if you don’t want to post email here you can send an email to support@cardrunners.com and tell them to fwd to tay.
LP is irritating because its congested, filled with Midwest transplants from big 10 schools and is geared towards a meathead crowd. Take away those aspects and its a great place but as it stands today, it’s just not for me. That horrible stretch of bars on Lincoln is more annoying than wriggleyville.
Tay:
Use anon_tfo at hotmail. May be a little slow to respond, as it’s (obv.) not my primary.
Am I correct to presume a cardrunners addy?
“That horrible stretch of bars on Lincoln is more annoying than wriggleyville.”
HAHA! I was talking about the ‘hood not that stretch of bars. Aside from ONE of those bars with a dollar beer on Sunday special that I frequent a few times a year I don’t go there–nobody with any sense of any age does. The neighborhood is a lot bigger than that area. Nobody above the age of 24 is advised to goto that stretch of bars. Its just like how Lakeview has Wrigleyville/Clark St but also a ton of other areas.
You can’t judge an area solely on the cheesiest part of that neighborhood (if that big) or one of it’s stretch of bars.
Is the commercial space for sale, as well, or will it be rented? How much control would the association have over the types of businesses that would be in the building?
For what it’s worth, my wife and I lived one block over (Webster and Bissell) for about two years. If you are a college student with no real “schedule” and like partying and being around other twenty-somethings, it’s a great 2-block radius to be in. If you’re a professional who gets up early, will be annoyed by the noise of weeknight partying, and doesn’t want to have to sidle past groups of drunk DePaul students every weekend, that area gets old REAL fast. No way would I ever pay $900K to live there.
I was always under the impression that to qualify as a “bedroom”, the room had to contain a closet and at least one window. How is it that the two interior “bedrooms” in the west units are able to be so described? I see the closets in the floor plans, but where are the windows?
“where are the windows?”
Light well–the windows face each other in that notch.
So for $849,000 I get to look out my bedroom window… right into the window of my other bedroom?
“That horrible stretch of bars on Lincoln is more annoying than wriggleyville.
whatever, $10 all you can drink (beer) and eat (buffalo wings and pizza) on Fridays for 3 hours is an amazing deal
“So for $849,000 I get to look out my bedroom window… right into the window of my other bedroom?”
If you’re paying the $849k and sleeping in one of those BRs (one of which has french doors and is thus a den/office, to me), I dunno what to tell you.
I really think that these layouts live like really (*really*) nice 1br + guest room + office/den. Maybe works with one kid, or part-time kids for a divorcee, but I think it would suck to have 4 people living in this space full-time, at anything like that price (ie, it would be a good amount of space for a family of four spending $125k or so, but for $750+, wtf).
BTW forgot to give props to anon (tfo) for continuing to popularize the term ‘gator deck’.
Sonies,
Which bar has the beer and wing deal?
Kendalls & Kelsies
If you like bar food and domestic beer you can live like a king on a serf’s budget in Lincoln Park and Lakeveiw.
email sent anon…from a gmail acct.
also, i don’t hang out a ton on the stretch of bars near lincoln, but it’s not like this place is sitting on lincoln ave. if you don’t like that scene, head down a few blocks to armitage. if you don’t like that scene, head over to old town. etc. etc.
“BTW forgot to give props to anon (tfo) for continuing to popularize the term ‘gator deck”
i need some clarification on the term (never heard it)
“i need some clarification on the term (never heard it)”
A deck from which you get a good view of the alley(gators).
I swear you were in one of the threads when it was discussed.
Groove: Yeah gators walking down the alley was from the property on Schiller actually on the Wicker Park. basically a coach house pushed way back on the lot.
For what it is worth, looks like that property was pulled from Redfin.
“I swear you were in one of the threads when it was discussed”
“Groove: Yeah gators walking down the alley was from the property on Schiller actually on the Wicker Park. basically a coach house pushed way back on the lot.”
probably 100% was and it just didnt stick. (old age catching up to me).
From Russ:
“Nice unit, but definitely a bit over priced imho considering you can buy a house for around the same amount”
Really? Not in LP. I did a quick search and found 3 SFH’s. 2 literally have the L going through your backyard, and the 3rd was a dump. All were closer to 900k than to the rpices of these condos. Try again russ….
Checked this out yesterday. The “light well” on floors 2 and 3 for the non master br’s is pretty bad. It’s much better on the 4th floor since that floor is above the building next to it. Only other complaint is non interior stairs to the roof deck.
View from roof is amazing. Perfect skyline and the church’s size is very dramatic from there too.