The East Lincoln Park 2/2 for Under $280K: 2754 N. Hampden
This 2 bedroom, 2 bath unit at 2754 N. Hampden, the Hampden Tower, in East Lincoln Park is listed as a short sale.
The listing says the unit had been rehabbed in 2005.
It has hardwood floors and dark kitchen cabinets with granite counter tops and stainless steel appliances.
This is one of the units in the building with in-unit washer/dryer and it also has a wine fridge.
There are custom California closet systems as well.
There is no central air, just wall units, and deeded parking is available.
This building, which was built in 1973, has a great roof top pool that overlooks the lake and downtown.
The listing says the building is FHA approved.
Is this a deal given the renovation of the unit and the square footage?
Jim Humes at Coldwell Banker has the listing. See the pictures here.
Unit #705: 2 bedrooms, 2 baths, no square footage listed
- Sold in May 1999 for $198,000
- Lis pendens filed in September 2008
- Lis pendens foreclosure filed in September 2009
- Currently listed as a “short sale” for $279,000 (parking extra)
- No assessments are listed but similar units in the building are around $600 a month
- Taxes of $4311
- Bedroom #1: 12×14
- Bedroom #2: 11×11
- Dining room: 15×10
- Kitchen: 13×8
- Living room: 15×15
Clearly the assessments need to be in the 200’s like a brand new condo development. (Sorry, I am being petulant)
Well, at least this is in my target neighborhood (i.e., east of Clark, between Belden and Diversey). But the building just seems a bit too apartment-like.
Regarding the building around the corner, 2520 N. Lakeview, I know that someone (apparently in the know) recently noted on here that the funding simply isn’t available to go forward with the building (beyond the parking garage). I saw in Crain’s today that Chicago starchitecht Lucien Lagrange – who’s handling 2520 and the Ritz-Carlton projects – is retiring and his firm filed chapter 11 yesterday…
CH. 11 has nothing to do with the future development of the building. Funny, it kinda redacts my comments the other day but I heard a foreign bank is trying to line up a syndicate for the construction financing…. The last thing LP needs is another 200+ units priced at $700/SF and 20 $1MM lots.
knew somwone who lived in this building recently. The hallways, elevators, and commons areas (except for the front entryway) are rather dingy. Also there was suppossed to be a rather larger special assmnt upcoming to replace all of the wallmounted heating/cooling units.
3.2% CAGR from 1999 to 2010.
That figure includes the cost of the rehab job (which from the photos look pretty nice).
You get what you pay for – if the common areas are dingy and a special assessment is on its way – you’re paying less than $300K for a 2/2 in east LP.
Assessments are high, no central AC, and “rental quality” common areas except for the main floor. Seems reasonable at $279K to me. But then again, no listed Sq Ft…..
LOL 13×8 kitchen my ass
also this whole place is probably 800 sqft hence the “cheap” pricetag
I lived in this building in a similar 2-bed unit (rental at the time) back in the mid-90s. The rooftop pool was great. Everything else about the building…. not so much.
looks like CHA housing…ugly