Same Lake and City Views At a Fraction of the Cost: 2626 N. Lakeview in Lincoln Park
This 3-bedroom in the highrise at 2626 N. Lakeview on Lincoln Park has been on the market since February 2011.
It is a southeast corner unit so it has both city, Lincoln Park and lake views.
Just a block away they are building the new luxury tower at 2520 Lincoln Park where prices, for a lake view, start in the millions.
2626 N. Lakeview was built in the 1970s and has about 490 units.
It is a full amenity building with a doorman, exercise room and a rooftop outdoor swimming pool.
The unit has a “chef’s kitchen” with granite counter tops and stainless steel appliances.
The third bedroom has french doors and a built-in murphy bed.
It also has wood paneling in the living room.
Even though it’s an older building, the unit has amenities buyers look for today including central air and an in-unit washer/dryer.
Parking is rental in the building.
The unit is listed for $41,000 under the 2008 purchase price.
Is this a deal compared with the new construction going up in the neighborhood? (and will that new building partially block any of these views???)
Lisa Borelli at Prudential Rubloff has the listing. See the pictures here.
Unit #3303: 3 bedrooms, 2.5 baths, no square footage listed
- Sold in May 2001 for $461,000
- Sold in August 2008 for $640,000
- Originally listed in February 2011
- Was listed in March 2011 for $620,000
- Reduced
- Currently listed for $599,000
- Assessments of $972 a month (includes heat, a/c, gas, pool, doorman)
- Taxes of $7323
- Central Air
- Washer/Dryer in the unit
- Parking is rental for $135 a month
- Bedroom #1: 19×14
- Bedroom #2: 13×12
- Bedroom #3: 14×11
always was curious about this ginormous building.
Something odd about the listing pics. The first and last pics appear to show a different living room, or at least that’s how it seems.
In any event, it’s an interesting listing. Looks like there’s still some updating to be done in the baths, and while the kitchen’s just fine, it’s not a “chef’s.” The furnishings look like the person has been there for many years (as many in the building have, with many pre-conversion residents), though the sales history indicates otherwise (so perhaps it’s rented?). I’d venture that somewhere around $550kish gets it done.
looks spacious but also very dated. The assessment and parking are not cheap but not bad either for a large ?! 3BR.
“and will that new building partially block any of these views???”
Looks like the views directly to the South will be partially blocked.
This place is nothing special. The 2001 price of $461k should be the starting point.
I currently live in this building… alas only a 1BR and only on the 3rd floor. These 3BR units are on the front pier of the building and have S, E & N exposures. When I was on the rooftop grilling the other day, I realized how much the 2520 will block the skyline views from the southwest wing of the building, but I don’t think it’ll be quite so bad for the views from the eastern (front) wing — I’ll have to take note when I’m at the pool which tops that wing.
This unit has some strange work, like that paneling and the two vanities w/ toilet in the middle (must have taken over a closet to expand BR).
#503 just hit the market at $535k and is more tasteful, although without the same views:
http://www.redfin.com/IL/Chicago/2626-N-Lakeview-Ave-60614/unit-503/home/22805538
Why would 2520 “block” this unit’s views? Sure, at floor 33, the 39-story tower of 2520 will be visible, but it’s not like it’s right next door. It will partially obstruct the view of the city, but (i) 2520 is going to be a fairly nice building to look at (its poorly chosen white window trim notwithstanding) and (ii) it’s all about the park/lake views from this unit, which will never be obstructed.
kinda sucks you have no balcony for those sweet views
During the day, it’s all about the park/lake view I agree.
At night, I bet the city view steals the show. 2520 might block part of the downtown view. On the whole, 2520 going up is a small negative for this unit in my option.
Wow, 503 is very nice, and just rained on 3303’s parade (along with my rough prediction of $550k for 3303). Of course, there are some buyers out there who’ll place a premium on the “wow” one experiences upon walking into a room with unobstructed lake views. But I’d say that there’s a bigger pool of prospective buyers who would prefer a nicely updated place with unobstructed park views (and likely partial lake views, and considerable views of the lake during the half of the year when there are no leaves). Personally (having lived next door to this building), I’d prefer to be on floors 5 – 7 or 8, in order to maximize the park views while minimizing the view of LSD.
2520 going up is, indeed, a small negative for this unit as far as the views go. But it’s also a building with very expensive units, which should arguably bode well for the values of the those in 2500, 2626 and 2650.
That said, while Lakeview Ave is my favorite residential stretch in the city, and though I think that 2520 will raise the bar in terms of the value/wealth/demographics of the immediate hood, I will say this: 2520 is going to have a negative impact on the park/north pond. The park along Lakeview and the area surrounding the pond is simply going to have hundreds of new regular users.
I live in this building too. The new development at 2520 N. Lakeview will not obstruct the downtown skyline view from the 03s at 2626 N. Lakeview.
If you look at the first picture of the views in this listing, you can see the old Columbus hospital (those are some two+ year old pics). Just imagine a taller structure there. You should still see the downtown skyline. It seems like the new Trump tower would be block but that’s it.
I use to live in the building. The biggest negative is the lack of in unit laundry and dryer. You have to go down to the shared laundry room to do a load. On the plus side, there is a gym next to the laundry room, so you can work-out while you wash.
Holy Frank Lloyd Wright Prairie Style look in a high rise condo. Think it is time for a modern update. I do like the corner design with great light and views though!
“kinda sucks you have no balcony for those sweet views”
Yeah I really can’t imagine living in a high-rise without a balcony. I’ve rented in two high-rises and both had nice balconies; I wouldn’t even rent in a place without one, much less BUY a place without one.
And I fully acknowledge that I spend very, very little actual time on the balcony, in absolute terms.
It’s partially psychological; without a balcony, in order to do something as simple as step outside you have to: walk down a hallway, wait for the elevator, go down the elevator, walk through a lobby… and finally you can escape your interior box and step outside.
With one, you can simply… step outside, enjoy some fresh air and take in the view.
Here is a photo I took from the sundeck at 2626, which is on the southwest facing wing, to give an idea of how much 2520 will block views from there:
http://www.flickr.com/photos/blipsman/5835189230/in/photostream
As I said, it’s won’t be nearly as bad from the front of the building, where the 03 units are located.
I practically lived in this building in my early teens…have hung out in several units…spent summers and weekends babysitting. Oprah had a producer in the building at the time, so she was there frequently. I have allways loved this building. My problem is for those assessments I want to live closer to downtown. Im guessing unit sells around 500K.
2520 is out of scale with the buildings around it. It is a beautiful building but it looks out of place IMO.
wow… those views are sick. there aren’t that many 3BR homes out there that have views like that in a great neighborhood for under $1m.
“Oprah had a producer in the building at the time, so she was there frequently.”
I heard Vince Vaughn drove by this place a few times as well.
Bob-
Just sharing my personal experience…
Its friday…lighten up!!!
FANTASTIC deal compared to 2520. “Oh, there’s no balcony!” If you’re in a position of justifying a HUGE premium for that amenity (soon to be, by the by — 2520 is still under development after all) then good for you.
If you want fantastic views, great common areas (rooftop; rooftop pool) and the same location, this building is a STEAL compared to 2520.
And I love the 2520 project, by the way. But very few can and could afford it. Dogging 2626 because of “I need balconies; I need in-unit laundry!” is just laughable considering the incredibly extreme price differential.
“Dogging 2626 because of “I need balconies; I need in-unit laundry!” is just laughable considering the incredibly extreme price differential.”
This particular unit HAS in-unit laundry. I’m assuming those who are saying they lived in the building and they used the communal laundry room lived in smaller units (where it isn’t as common to install it because you either might not have the space and/or the $10k it usually costs to install it.)
So the only thing this unit doesn’t have compared to 2520 is the balcony.
Oh- and the high ceilings.
“I will say this: 2520 is going to have a negative impact on the park/north pond. The park along Lakeview and the area surrounding the pond is simply going to have hundreds of new regular users.”
Anonny- I kind of disagree with this statement. Do you really think the 40, 50 and 60-year olds who are buying in 2520 are going to spend much time in the park? They’ll look at it- sure. But I doubt they’ll be out there every day.
I’m assuming the demographics for 2520 skew much, much older (because of the price point.)
When they initially announced that building- I thought it would do well in terms of sales because there hasn’t been any new construction in that area in decades (in terms of high rises.) A lot of people who live on that block- either in the vintage high rises or the 1970s high rises- would love to move up to something “new”- with the taller ceilings, w/d in the unit, balcony, and parking.
The only problem now- is that those who want to move up have to sell their old unit first. 5 years ago- not as big of a deal. But now? Much more difficult.
So now I’m not sure what the market is for 2520. I still think suburbanites moving to the city will want the downtown- and NOT LP. Again, it’s not like the 65 year old retiree is going to be hanging out at the zoo.
I live in this building currently and I love it here! The 2520 building does not block views from an 03 unit. The pool is awesome and the staff are really nice. I wish I could buy an 03 but $900 on top of a hefty mortgage payment is too steep. An in unit washer/dryer is a possibility but there are restrictions and you might have to give up a bathroom. Luckily in the 03 there are 3 bathrooms.
“chef’s kitchen”??? There’s no stove, only an electric range.
“Anonny- I kind of disagree with this statement. Do you really think the 40, 50 and 60-year olds who are buying in 2520 are going to spend much time in the park? They’ll look at it- sure. But I doubt they’ll be out there every day.”
I’m 40. I think I work at least as much as most 40 or 50-somethings. I spend most of my non-working, daylight time across the street in the park or on the lakefront. Other than views, the whole point of living within a stone’s throw of the park/lakefront is that one can go out and experience it for as short or as long a time as weather/work/life permit. Whether it’s 15 or 30 or 60 or 90 minutes before and after work, walking across the street (or through a tunnel) and into the park takes no planning/driving/parking or walking through the neighborhood…it’s just right there.
I lived in between 2626 and the 2520 site for a couple of years, and I would submit that the north pond area is the most serene and splendid outdoor amenity in Chicago (I actually prefer Lakeview Ave and its park frontage to LPW and its park frontage, though I now live a stone’s throw from the latter; while it’s fantastic living a block from the zoo now, Sabrina’s right: once our kids are 12+, the zoo loses a lot of value). I just can’t imagine that the residents of 2520 won’t be out for strolls around the pond in the morning, coffee in hand, etc. Again, there is of course a great upside to their arrival: in what was formerly a crappy hospital building there will now reside hundreds of affluent types (whose presence might also help to sustain some new businesses on Clark). All I’m saying is that the north pond will be forever more populated upon the completion of 2520. (Of course, provided that my kids can one day transfer out of Lincoln and into Latin/Parker, I’d love to move back to that hood, be it into a large building on Lakeview or into a rowhouse on Arlington/St. James/Roslyn between Clark and Lakeview.)
“So now I’m not sure what the market is for 2520. I still think suburbanites moving to the city will want the downtown- and NOT LP.”
On this, Sabrina, we can agree. While I can see some affluent suburban empty nesters buying in 2520, along with a handful of well-heeled younger professional couples/small families, I simply can’t fathom there being enough buyers from those two groups to fill 2520 in the near future. I hope I’m wrong (then again, perhaps I’ll be able to obtain 2,500 sq ft in 2520 for a song in the year 2020…).
I lived in this building for 8 years, and have many fond memories. I’d consider moving back someday, but my wife reminds me of two annoyances (besides communal laundry, which this unit doesn’t seem to need, which is good):
Her two quibbles are:
Noise: The building creaks very loudly in the wind. We were on the 24th floor, northwest exposure. I’d assume the higher you go, the worse the creaking.
Windows: The windows are the old-fashioned type that open outwards. And they’re showing their age. Any time it gets windy, the windows tend to slam shut with a bang that can shock your senses all the way on the other side of the apartment (and we had about 15 windows in our apartment, so this happened a lot).
I also remember that poor front door insulation meant that you were constantly exposed to the noise of people in the hallways coming in and out of their units. And if the person in the unit next to you was a door slammer, you knew every time when they came or went, because it was quite audible in your own place.
That said, I loved the views, location, staff, relatively low assessments, and the split floor plan we had in our two bedroom that made it seem much bigger than it was. The unit for sale here, unlike ours, has a very dull floor plan, with all three bedrooms lined up on a single hallway. Although you do get the extra room, it’s small enough that paying the extra for a 3-bedroom in this building isn’t necessarily worthwhile. Might be better to find a 12-unit two-bedroom like ours unless you’re planning on raising kids in the building. That would save you about $200,000. And you wouldn’t have to worry about 2520 (although 2650 does get in the way of the 12-units’ northeast exposure).
Did not know this building had an outdoor pool and sundeck. I would not mind paying the little extra in HOA dues to enjoy that deck and pool in the summer (that is, if it ever stops raining!).
The sundeck is nice. Great views. I always found it a bit too windy and cool for swimming up there.
given chicago’s weather outdoor pools are pretty useless. Now indoor pools are a whole other story.
Benjy,
Thanks for the sundeck photo looking south. I didn’t realize how bad it was going to be for the 03 owners, who used to have among the best views in the city. What a shame. When I lived there, I envied people in the high 03 units (being in a 12-unit always seemed less choice, because we could only see the city skyline if we looked out of our back bedroom windows and we had 2650 partially blocking our lake view). The 03’s had no obstructions. That era is definitely over. Now the 03s are probably your best bet.
Oops – sorry – I meant how bad it would be for the 08 owners, and we envied the high-floor 08s, not the 03s. It’s been 9 years, so my 2626 knowledge is getting rusty.