We Love Authentic Lofts With Private Rooftop Decks: 3024 N. Lincoln in Lakeview
This 2-bedroom duplex loft in the Palace Lofts at 3024 N. Lincoln in Lakeview just came on the market.
The Palace Lofts were one of the original conversion buildings- having gone condo way back in 1997.
For that reason, many of the original features were kept intact with 17 foot to 30 foot ceilings, wide open spaces, the original 1 inch maple wood floors, exposed brick and lofted duplex bedrooms.
There are only 9 units in the building.
4 of them are currently for sale, with one under contract.
This unit, Unit #F, is 1781 square feet with a private 400 square foot rooftop deck.
It has a maple kitchen with stainless steel appliances.
The loft has the other bells and whistles buyers look for including central air, an in-unit washer/dryer and deeded attached parking.
The property is listed about 17%, or $80,100, under the 2005 purchase price.
Is this loft a deal?
Alishja Ballard at @Properties has the listing. See the pictures here.
Unit #F: 2 bedrooms, 2 baths, 1781 square feet, duplex
- Sold in April 1997 for $255,000
- Sold in May 1999 for $350,000
- Sold in August 2003 for $450,000
- Sold in July 2005 for $480,000
- Currently listed for $399,900
- Assessments of $330 a month
- Taxes of $6715
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 20×17
- Bedroom #2: 14×12
- Rooftop deck: 20×20
I loved living nearby here… the proximity to the golden apple, S&G and chicago’s pizza assured me I’d never be hungry after a long night (or morning) of drinking
Do people who buy 400k properties dine at the Golden Apple after bar hours often? Methinks not. Sounds like during the bubble people essentially overpaid for what are college staple amenities/nightlife.
Pass.
eh nothin too special…curb appeal is kinda blah, like the place
The inside looks really nice, but the exterior makes me feel depressed. For some reason, two story buildings where the lower level includes stores and the upper level includes apartments always made me feel bad about life.
Part of my struggle in Chicago is avoiding the noise. I could never live here or anywhere along a really busy street.
i am a big fan of lofts and this looks like a nice space but something about it depresses me. Maybe it is as silly as the pictures were taken on a grey day, the fact that the walls look white/grey or the grey carpet. honestly i can’t figure it out- I know those cosmetic things that I can change shouldn’t factor in to the equation but if you can’t get me in the door then you can’t sell me anything.
“The Palace Lofts were one of the original conversion buildings- having gone condo way back in 1997.”
Either this statement is missing something, or you have a very short time horizon! Loft condo conversions in Chicago have gone on since the late 70’s!!
“Maybe it is as silly as the pictures were taken on a grey day, the fact that the walls look white/grey or the grey carpet. honestly i can’t figure it out”
Look at the pix for any of the other 3 units for sale (in the similar units for sale section of the linked listing, at the bottom) and you might be able to figure it out.
Its a good amount of space for a pretty decent price… however, you have to walk through your master to get to your patio/bbq – and I’m guessing that you wouldnt be able to get to sleep in either of these bedrooms if someone was still up hanging out in the living area. Not cool.
“Look at the pix for any of the other 3 units for sale (in the similar units for sale section of the linked listing, at the bottom) and you might be able to figure it out.”
Can’t be good for 4 of 9 units to be for sale at once. . . with 2 listings in the past 3 weeks. . . (although looks like G is under contract)
Oh, and look, the listing for Unit E is about to have a birthday!
I used to know someone in this building. I think it’d ok to rent (agree, I’m not buying residential property on Lincoln), or if you wanted to buy, maybe at the ’97-98 price.
This is, literally, the building where I learned what a drag it can be to stay in a loft without bedroom walls . . . and that is all I shall say about that. . .
Do people who buy 400k properties dine at the Golden Apple after bar hours often? Methinks not.
Bob,
Just cause you can afford a $400K place does not mean that you automatically dine at Charlie Trotters and Art Smith’s place. I’ve had lot’s of great meals at S&G over the years and I live in a home over $400K. People don’t stop going out and over-drinking after making $100K per year. Methinks that you are wrong!
Someone will need to put 25K into finishes to jump start this place.
“People don’t stop going out and over-drinking after making $100K per year. ”
People who make over 100k aren’t the typical set that hangs out at the mostly college bars nearby. The typical patron of most bars around here isn’t earning six figures.
This place has a solid premium for its proximity to late night dining establishments, which is insane to me because dropping 400k to live on a main thoroughfare right near collegey bars seems like a huge waste.
Methinks you’re in love with Chicago’s crazy bubble RE valuations and that you’re the wrong one.
Bob – You have missed the point! I did not suggest that I liked this place, it’s price point, or the location. In fact for the record I do not. That stretch of Lincoln is not visually appealing. It is way too gritty and commercial for my tastes and I like commercial mixed use spaces!
All I suggested by my comment is that your earlier post was not factually correct. I have several friends in their early 40’s that do not have kids and make serious money. They still spend late nights out at the bars which are followed by a stop a greasy spoon like S&G or the Golden Apple. They are not the “typical set” but some of them may still think they are 25.
Again for the record my comment was…..
“People don’t stop going out and over-drinking after making $100K per year”
> Either this statement is missing something, or you have a very short time horizon! Loft condo conversions in Chicago have gone on since the late 70’s!!
Exactly. An example of someone making a statement without knowing the facts. Pretty common here. Had you not said something everyone that reads it would now be thinking that lofts came to be in the late 1990s.
This place reminds me of that bit they do on Family Guy where a smash cut goes to Adam West laughing “HA HA HA HA, WHAT?!?!?”
Some North Shore kid’s parents are going to take a BATH on this place.
The only market for this place is a rich post college kid. No yuppie/DINKs in their right mind would ever buy this.
while this is true, I’m thinking that this stretch of Lincoln was probably one of the earlier conversions in Lake View? never been in the market for a loft so I don’t really know.
actually, I think an earlier conversion may have been the old theater (later bowling alley doubling as a flea market) right up the street on the 1600 block of west Belmont?
“Loft condo conversions in Chicago have gone on since the late 70’s!!”
“Either this statement is missing something, or you have a very short time horizon! Loft condo conversions in Chicago have gone on since the late 70’s!!
Exactly. An example of someone making a statement without knowing the facts. Pretty common here. Had you not said something everyone that reads it would now be thinking that lofts came to be in the late 1990s.”
Lofts were converted into apartments earlier. I haven’t ever seen one from the 1970s (an entire building- but I’m sure someone can show me some somewhere in the city.) In the mid to late 1980s, they began to gain popularity- again- as apartments in the Printers Row area. These were then converted into condos in the late 1980s and early 1990s.
If you live in a building other than the Donohue in Printers Row and it was converted in the 1980s- please let me know. I’d love to hear about it. I’m sure there are some- but lofts were located in industrial and undesirable areas (originally.) They weren’t glamorous and they were basic (with no walls and just a kitchen and bath.) Like I said- most were NOT condos. That all came much, much later when lofts suddenly became hot in the mid to late 1990s. If you have a conversion that happened in, say, 1997 or 1998- that was considered “early” in the world of lofts.
Actually- I just looked it up. The Donohue in Printers Row went condo much earlier (during the last condo craze.)
It was the first building converted. So other lofts may have existed in the 1970s- but they certainly weren’t condos.
From the plaque on the outside of the Donohue building:
“Built in 1883, the Donohue Building was the first large printing factory in the historic Printing House Row District. The Donohue Building served until 1971, as the headquarters of the M.A. Donohue Publishing Company, a well known publisher of classic children’s literature. The building achieved another first in Chicago history in 1979, becoming the first of the city’s factory lofts to undergo conversion into a residential condominium. “
I actually did mean in the post that it was one of the early conversions in Lakeview (not citywide.)
Just looked up the building on Belmont- you’re referring to the Cinema Lofts at 1635 W. Belmont. That was converted in 1997.
Thanks for the history lesson Sabrina!
“you’re referring to the Cinema Lofts at 1635 W. Belmont. ”
those are they, thanks – a very well done project in terms of saving the facade, I might add.
And also nearby are the Lincoln Lofts, just south of Belmont, formerly a theatre/mixed-use building. The “Lofts for Sale” sign was up for many years, was changed just recently.
Bob – You have missed the point! I did not suggest that I liked this place, it’s price point, or the location. In fact for the record I do not. That stretch of Lincoln is not visually appealing. It is way too gritty and commercial for my tastes and I like commercial mixed use spaces!
All I suggested by my comment is that your earlier post was not factually correct. I have several friends in their early 40’s that do not have kids and make serious money. They still spend late nights out at the bars which are followed by a stop a greasy spoon like S&G or the Golden Apple. They are not the “typical set” but some of them may still think they are 25.
Again for the record my comment was…..
“People don’t stop going out and over-drinking after making $100K per year”