Waiting for a Buyer for 3 1/2 Years For This Lincoln Park Penthouse: 2216 N. Lincoln
This 2-bedroom triplex up penthouse at 2216 N. Lincoln in Lincoln Park has been on and off the market since August of 2008.
The building is an old bakery. It is now an elevator building with 6 units.
This penthouse has a private 20×16 roofdeck that overlooks Oz Park.
The kitchen has maple cabinets, granite counter tops and white appliances.
There is central air, washer/dryer in the unit and 1-car garage parking.
I couldn’t find an original 2008 list price but as of June 2010 it was still listed at $774,900.
It has since been reduced to $599,850.
Is price the only thing holding this property back?
Anton Ursini at Prudential Rubloff now has the listing. See the pictures here.
Unit #E: 2 bedrooms, 2.5 baths, den, 2200 square feet, triplex up
- Sold in June 1998 for $425,000
- Originally listed in August 2008 (I couldn’t find an original list price)
- Was listed in June 2010 for $774,900
- Reduced
- Currently listed at $599,850 (parking included)
- Assessments of $395 a month (includes cable)
- Taxes of $8231
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 21×14 (second floor)
- Bedroom #2: 15×14 (second floor)
- Office: 8×8
It’s just not that great for 600K. It should have a nicer kitchen, etc.
Needs to be completely painted, new appliances, and professionally staged
I looked at this place last year. I really liked it but ultimately it didnt work for my Wife and I. Some pros and cons:
Pros:
– Beautiful building
– Location/view/proximity to Oz park/Lincoln elem district
– Elevator building
– Move in ready aside from the kitchen
– Garage, Central AC, in unit W/D
Cons
– Too expensive at 775 (listing price at the time)
– Impractical layout – the 1st floor is just one big living room/dining room combo with an open kitchen and a half bath, the 2nd floor had 2 BRs with both bathrooms en suite. The 3rd floor is just a little office (no door) that opens up to the roofdeck. No place to put guests if you have a child, plus entertaining on the roof deck would be annoying because there are two floors between the office and the half bath on the main level.
– The kitchen needs work
The 2010 ask was NUTZ. Yes, this is Lincoln Park (in fact I really like the immediate hood), but 750k for a 2 bed on Lincoln? And I seriously question their sq. ft. number. I’d give them about 1600 sq. ft. for livable space, max. This is an average sized 2 bed at best.
A big, sweet deck doesn’t make up for how average the rest of this place is. 500k?
Curb appeal = 0. White sink and appliances that stick out like a sore thumb? Character = 0. This is cookie-cutter construction. The only appeals to me are the location and that it is a blank slate that someone could make their own, but there is better around there for the price, IMO. $500-525K maybe?
I agree with previous posts. $500K.
Finishes suck, but the location is great, facade oozes character, 2000+SF, 2.5 baths, included parking and one of the best roof top decks I have seen. All of that being said, I think they are looking at $490K
These owners are morons. They aren’t getting near the windfall they think they are and will probably have to hold this until 2020 until it finally sells.
I’d like whatever they were smoking to list this at $775k in 2010. They’ve still got a ways to go even though I do like the place. I do think it is mostly price that hurts them..the appliances aren’t THAT awful and the location/deck/space I think make up for them.
“Finishes suck, but the location is great, facade oozes character, 2000+SF, 2.5 baths, included parking and one of the best roof top decks I have seen.”
I hope that this is the 1st roof top deck you’ve seen because this one is not all that impressive. Those green railings are horrible and any friends you might have with kids will be sitting inside while you enjoy that craptastic deck. Terrible. This place hasn’t had a single upgrade since these clowns bought it for $425 in 98. Lighting, white appliances, bad paint, grandma’s cabinet pulls — all original (I bet). $775? Ha. When you price like that people actually enjoy watching your place languish and plummet.
The location isn’t great either, Lincoln is very busy with commercial and bar traffic on that block. I would rather be on a quite street a block away. Poor location they will be lucky to get $450K.
listing status says pending… so maybe not waiting too much longer.
“I hope that this is the 1st roof top deck you’ve seen because this one is not all that impressive.”
Its all about the views… and sitting atop the canopy of Oz Park with views of both the downtown skyline and the North side skyline is hard to beat. Maybe I’m just simpler than you folks.
You’re right alfonso. Must have just gone under contract today because as of yesterday- it wasn’t pending.
Probably unlikely someone is paying only $450k or whatever everyone was guessing at this point (since it’s listed at nearly $600k.) $550k though? I’ll watch to see if it closes.
This building once housed The Bakery, a defunct gourmet restaurant run by an early celebrity chef. I think the initial condo conversion had a marketing boost from that association. This unit is very plain and its finishes dated; its owner is “living over the store” on busy and not particularly charming Lincoln Avenue. You can listen to buses, trucks, and rowdy bar traffic (now under control?) at night.
Charm and value doesn’t revolve around square footage. I venture this unit won’t sell for more than $425,000, the 1998 price. Those Grant Place duplexes are a far better value and living experience.
Lincoln Ave is terrible. Bar crowds are a constant reminder that you are getting older but the bar aged crowd stays the same.
Nice view from the deck. I’m surprised it’s an elevator building. They have easy access to the pretzel shop.
They might want to look for a deal on some mid-grade appliances after the holidays. A few grand would go a long way toward making the kitchen tolerable to more buyers in the $550-600k LP price range.
$550k, give or take $25k.