Our Favorite 3-Bedroom Pre-War On The Park Is Now A Short Sale: 2130 N. Lincoln Park West
We’ve chattered about this 3-bedroom at 2130 N. Lincoln Park West in Lincoln Park several times this year.
See our last chatter in July 2012 here.
You might remember it because it is a rare vintage unit with its own 660 square foot terrace. Usually vintage units in the large buildings don’t have outdoor space.
It also has nearly all the features buyers look for, but can not usually find, in a vintage unit.
It has a washer/dryer in the unit and attached heated garage parking. The one amenity it is missing is central air.
The unit even has a private elevator entry.
Built in 1927, it has a 38 foot barrel vaulted gallery and oak floors.
The older listing said the kitchen was 3 years old. It has white cabinets, granite counter tops and stainless steel appliances.
The old listing also said the bathrooms were “new.”
Unit #3S, one floor above, was also recently on the market. It had the same layout but no outdoor terrace.
It sold in June 2012 for $750,000.
This unit came back on the market in September also listed for $750,000.
But it has since reduced to $719,000.
It’s now a short sale.
Given what #3S sold for just a few months ago (without the terrace), is this a deal?
Michael Hall at Baird & Warner now has the listing. See the pictures here.
Unit #2S: 3 bedrooms, 3 baths, 2400 square feet
- Sold in February 2000 for $480,000
- Originally listed in January 2012 for $895,000
- Reduced
- Was listed in March 2012 at $849,500
- Reduced in April 2012 to $825,000
- Was listed in September 2012 for $750,000
- Reduced
- Currently listed as a “short sale” for $719,000
- Assessments of $1440 a month (includes heat, parking, cable)
- Taxes are now $9813 (they were $10640 in July 2012)
- No central air- window units only
- Washer/Dryer in the unit
- Garage parking included
- 600 square foot private terrace
- Bedroom #1: 16×14
- Bedroom #2: 16×11
- Bedroom #3: 10×10
- Gallery: 38×7
nonny, put in a bid! The terrace will be great for the cc bbq.
I’ve always wanted a long hallway with a barrel-vaulted ceiling. Seriously. Love that hallway.
But I’d want to be on a higher floor. No point living in a high rise without a view.
Purchased in 2000 for $480k. Twelve years later, they’re forced into a short sale situation in the low $700’s? It would appear that the place was ATM’d, far beyond the kitchen/bath updates, then they either weren’t ready to sell it at the peak, or they could have, but mis-judged the rapidity and severity of the downturn. I hope they land on their feet.
As for the unit, as expressed in the previous Chatter(s), having #3S hit the market was the death knell for this place. The massive private terrace at the rear of this unit, while a really nice thing to have, simply isn’t compelling enough to overcome this unit’s other shortfalls, relative to #3S. #3S is nicer overall, it has the arched windows in front, it’s one floor higher (it’s not right above the sidewalk like this place, and likely has a nice view of the park), and the “bedroom” that’s right off the living room is set up as a family room/tv room/den, as is appropriate for the units in this building. And that’s a key point with the “3 bedroom” units in this building: at this price range (in terms of the typical unit prices + the monthly fees), most buyers with two kids will be turned off by the layout/bedroom locations, and will instead buy something far west of the park. That leaves buyers with one kid or no kids, and most of such folks looking at vintage units in this range would likely prefer a 2 bed + family room layout, like #3S.
seems nice to me but if nonny is criticizing it then I’m not so sure.
“seems nice to me but if nonny is criticizing it then I’m not so sure.”
Just talking his own book, no?
Agree on the higher floor point, but not sure what is nicer about 3S overall (do not like that kitchen). Unicorn requires outdoor space.
“me but if nonny is criticizing it then I’m not so sure”
Perhaps it’s just my exasperation with how hard it is to find a decent 3 bed on or within a block or two of the park (within our price range).
“Perhaps it’s just my exasperation with how hard it is to find a decent 3 bed on or within a block or two of the park (within our price range).”
I share a similar exasperation in being able to find a 6000+ sf house on an acre plus of lakefront land in my price range.
ps: That’s why I called it a unicorn way back when.
Anonny,
I truly understand your desire to live near the park, but you’ve been looking so long, isn’t it time to consider 3-4 blocks away and see if you can find something in your range? Sometimes you have to make trade-offs. I made the ultimate trade-off a decade ago, moving from city to burbs, which I never thought I’d do. Not saying I recommend that, but at least give yourself some wiggle room on distance from park/lake.
“isn’t it time to consider 3-4 blocks away”
What, and live like an animal?
Has anyone ever seen the penthouse unit of this building? That must be awesome. It would be on my short list of places I’d most want to live in Chicago.
“ps: That’s why I called it a unicorn way back when.”
But he found one. Or so he says….
“I truly understand your desire to live near the park, but you’ve been looking so long,”
“ps: That’s why I called it a unicorn way back when.”
As DZ notes, we did indeed find one that met the original Unicorn Criteria, which called for a two bed.
“isn’t it time to consider 3-4 blocks away and see if you can find something in your range?”
You may be right. I wish it were as simple as tacking on $100-150k just for one more bedroom, but that just doesn’t seem to be the case on or within a block of the park, while meeting all of the other Unicorn Criteria. So I do think we’ll need to expand our geographic parameters.
There’s a whole world out there west of Halsted Street! (but east of Sheffield)
Nice place, but even more important then the low floor, I will never understand why anyone would pay this much money and not have a fireplace? Winters are long and cold here, you need a fireplace, and it would split up the boxy look of the living room.
The patio is great, however, I can’t imagine sitting out there or having a party, dinner etc while all the other units look down on you. I would imagine those are also people’s bedrooms so they wouldn’t be thrilled with anyone out there “late,” at night.
” I will never understand why anyone would pay this much money and not have a fireplace?”
Because you want to avoid the social stigma of having one?:
http://www.nytimes.com/2011/01/20/garden/20fire.html?pagewanted=all&_r=0
“Because you want to avoid the social stigma of having one?:”
LOL! That just makes me want to have fireplace in every room now, plus get the firepit outside going and invite those dopes over.
And they can always do a ventless gas one, which would heat up the house…but I am sure they would find something wrong with that.
“Because you want to avoid the social stigma of having one?:
http://www.nytimes.com/2011/01/20/garden/20fire.html?pagewanted=all&_r=0”
God, I hate that article so much.