Vintage on the Outside, Loft on the Inside Returns: 1847 N. Cleveland in Lincoln Park
This penthouse 2-bedroom at 1847 N. Cleveland in East Lincoln Park came on the market in March 2022.
Built in 1891, this building has 8 units and gated parking behind the building.
If this unit looks familiar, that’s because we chattered about it the last time it was on the market, in April 2017.
Back then, several of you didn’t like the loft aesthetic in the vintage building.
See our 2017 chatter here.
If you recall, this top floor unit has 14 foot ceilings with exposed ductwork and wooden trusses which gives it the feeling of a loft. It also has several walls of exposed brick and skylights.
The floors are wide plank pine hardwood.
The kitchen is open to the living/dining room and has light wood cabinets, granite counter tops, stainless steel appliances, an island that seats three and 2 wine refrigerators.
The listing says the primary bedroom and bathroom have been “recently updated.”
The primary bathroom has a blue custom double vanity, Kohler fittings, and carrera marble and carrera marble stone along with a walk-in-shower.
There’s also a second full bath.
The unit has the features buyers look for including central air, side-by-side washer/dryer and gated parking is included.
It also has a 5×10 storage room.
But the big selling feature for those looking for outdoor space is the south facing 1000 square foot roof top deck with city views. It appears to be accessed via an outdoor spiral staircase.
This building is near the shops and restaurants of Old Town, is near Lincoln Park and Lincoln Park Zoo.
This unit was on the market last May at $699,900, and went under contract quickly, but never sold and the listing was removed.
It has come back on at $699,000.
Will it go under contract quickly again this go-around?
Sophia Klopas at BerkshireHathaway HomeServices has the listing. See the pictures and floor plan here.
Unit #4S: 2 bedrooms, 2 baths, 1400 square feet, penthouse
- Sold in June 2003 for $500,000
- Sold in June 2004 for $555,000
- Sold in March 2010 for $528,000
- Sold in June 2017 for $632,500 (gated parking included)
- Currently listed at $699,000 (gated parking included)
- Assessments are still $375 a month (they were also $375 in 2017) (includes exterior maintenance and snow removal)
- Taxes are now $12,676 (they were $9993 in April 2017)
- Central Air
- Side-by-side washer/dryer in the unit
- Private 1000 square foot roof top deck
- Bedroom #1: 12×16
- Bedroom #2: 10×13
- Living/dining combo: 17×20
- Kitchen: 9×12
- Deck: 13×35 (roof top)
10% home appreciation, 30% tax appreciation. Yuck. Likely taking a loss here which explains being only partially updated.
Not sure if its an optical illusion, but the joists in picture #11 really look like they’re sagging
Nice RT deck and unit look slike it gets plenty of light
Second Bedroom looks a lot smaller than 10 X 13
Access to the Roof via the MRB and a spiral stairway sucks
“10% home appreciation, 30% tax appreciation.”
’17 taxes were “based” on the Mar-10 sale at $528k (~1.9%)
’21 taxes are “based” on the Jun-17 sale at $632k, and the increased levies since ’17 (~2.0%)
Even though it doesn’t really work that way, they are both about average tax bills for the then most recent sale of the unit.
“Not sure if its an optical illusion”
Wide angle lens artifact. Look at how out of parallel the floorboards are on either side of the island.
They must be counting the roof deck in the square ft as this does not look close to 1,400.
Even if it were 1,400 sq ft, $699K ask seems very steep for a unit partially finished. “Pent house” unit has its perks, but being on floor 4 is an awful lot of creeky vintage stairs and pushes the limits of livability for people hauling kids or who have elderly relatives that visit.
“being on floor 4 is an awful lot of creeky vintage stairs and pushes the limits of livability for people hauling kids or who have elderly relatives that visit.”
No need for the gym if you have to schlep up 4 flights every day. You’ll have the legs and rump of a silverback gorilla after a few years.
“10% home appreciation, 30% tax appreciation. Yuck. Likely taking a loss here which explains being only partially updated.”
inflation was 15% over that time period… so, no, not really any appreciation at all except for the taxes…
I don’t hate it, though I’m not a loft fan. The views and deck are attractive.
Lack of a bathtub does bother me. And would need to know if there’s an elevator. Fourth floor with stairs can get pretty old if you’re taking groceries home.
An assessment of 375 and not being raised since 2007 is pretty lean especially considering building insurance, utilities, building up reserves so it’s likely mean that
– the building probably runs blended specials meaning they save money for big ticket items like roof repair every ten years but each unit still has to kick in money at the time of the roof repair.
– smaller ad hoc repairs like replacing fencing, entry way doors would be 100% specials for each unit
– unlikely that there is any spring gardening and landscaping happening
The famous Great Chicago fire-surviving “Policeman Bellinger’s Cottage” at 2121 N. Hudson just hit the market, Sabrina. Maybe a future post?
https://www.realtor.com/realestateandhomes-detail/2121-N-Hudson-Ave_Chicago_IL_60614_M74510-68288
I don’t have a picture of that house Dan #2 and it will likely go under contract before I can get one.
But let’s see what happens with it. If I can secure a picture, and it doesn’t sell, then I’ll cover it.