Why We Love Chicago, Part II: 562 W. Arlington in Lincoln Park
We last chattered about this stunning 1893 vintage greystone at 562 W. Arlington in Lincoln Park in February 2008 (sorry about the bad picture of the tree and not the property.)
See our February 2008 chatter and pictures here.
Back then, Unit #2 was on the market (which I don’t believe ever sold).
Right now, both Units #3 and #4 are on the market but I’m going to chatter about Unit #4, the penthouse.
This building was an upscale conversion in 2005 with luxury finishes including marble bathrooms.
Unit #4 still has the clawfoot tub in one of the bathrooms.
It also has 2 fireplaces and a rear deck.
The kitchen has the finishes you would expect including stainless steel appliances and granite counter tops.
Living in a building like 562 W. Arlington on a quiet tree lined street in Lincoln Park is the dream of many.
Now it is becoming more affordable as well.
Unit #4 is priced $50,100 under the 2007 purchase price.
Michael Drommerhausen at Prudential Rubloff has the listing. See the pictures here.
Unit #4: 2 bedrooms, 2 baths, 1700 square feet, penthouse
- Sold in July 2005 for $610,000
- Sold in July 2007 for $715,000
- Originally listed in May 2009
- Withdrawn
- Currently listed for $659,900
- Assessments of $205 a month
- Taxes of $8674
- Central Air
- Washer/Dryer in the unit
- Gated parking included
- Bedroom #1: 15×12
- Bedroom #2: 13×12
nice but seems a little cramped for 1700 sqft no?
The traditional finishes are not my taste, but this is very tasteful and well done. Only slight challenge is no indooor parking, but it is priced competitively and will sell very close to asking.
For the love of G-d, either stop taking photos with a soft filter or upgrade to a camera that has a resolution of at least 1 mega-pixel. Yeesh!
Definitely like this place. Large windows. Decent sized bedrooms. A real dining room.
“nice but seems a little cramped for 1700 sqft no?”
Exterior dimension of the building is ~1700sf. Deduct for exterior walls, it’s more like 1500sf.
lot of interior walls and weird angles in here too, so really more like 1200sqft?
Nice place on a movie-set beautiful block, but I can’t help but wonder about the price. The house immediately to the west (you can see the front door in the pic above), sold in April for around $1.1M. http://www.trulia.com/property/19314893-564-W-Arlington-Pl-Chicago-IL-60614
True the house that sold doesn’t have parking and yes, I realize it’s double the price, but the the condo price seems high compared to the selling price per sq ft of the place next door. And those taxes… yikes!
Looks pretty nice but I agree with Sonies, seems kind of cramped for some reason, even with the big open living/dining area. Of coures, it has location in spades.
“those taxes… yikes!”
That’s about right for a property that sold for $715k. Maybe even a bit low.
Ouch, that jump of $105K in sales price from 2005 to 2007. What justified that?
Perfect location, but I’m sort of underwhelmed by the unit. I don’t understand plopping an open floor plan into a vintage unit. Leave the damn wall between the living room and dining room, fer chrissake. The original wall likely had a large archway opening (or pocket doors), so you had the feeling of openness without the tacky, crowded look of a combo LR/DR. Ugh.
Madeleine — THANK YOU. (I was going to say something like this but am tired of harping on about open floor plans and how much I dislike them, given that is what floods the market.)
Paying for $700,000 plus for $1,700 sq ft? I don’t think prices came down, I think reality just set in. Plus this is a 4th floor walk-up. Stupid people do stupid things…
Nice place, but that is a ton of money for a 2br/2ba and not a huge one at that. Reminds me of the place featured on here that was on Burling. Gorgeous old building, 3rd floor, but I believe it had 3 bedrooms and was priced for about $100k less. Which I think this one out to be about $100k less.
What in the world supports unit #3 being on the market for $694,900? (I know it has an extra deck…) THAT is some krazy.
http://www.redfin.com/IL/Chicago/562-W-Arlington-Pl-60614/home/12608822
“Ouch, that jump of $105K in sales price from 2005 to 2007. What justified that?”
that block, that facade, those ass fee’s, that tub, those ceilings, that level of awesomeness. (points deducted for madelines rant, but i can forgive that for everything else you get).
IDK Jon people might go for unit 3 because of the extra outdoor space?
thatsa whole lotta cash for the circumstances: sqft and the fact that you don’t have a townhome/sfh.
No crib in either of units. Staging?
Remind again, why are 3 units for sale in the same building at the same time? I’m sensing a major assessment. Maybe it’s mentioned on the property detail page only it’s written in ivisible ink.
“Ouch, that jump of $105K in sales price from 2005 to 2007. What justified that?”
that block, that facade, those ass fee’s, that tub, those ceilings, that level of awesomeness. (points deducted for madelines rant, but i can forgive that for everything else you get).
Groove, whereas in the past I’ve agreed with you on “that level of awesomeness,” I am not awed. The interior is very nice (for a Chicago reno with an open plan). I agree the facade, ceilings, etc., are excellent — but I was trying to see what accounted for that jump and those are features that are unchanged.
Nice unit, but not THAT nice.
I know I will be the odd one out, but I am all for open DR/LR combos as it gives the occupants another foot of usable space. I do prefer a wall dividing the kitchens though for the sake of keeping kitchen odors in the kitchen.
It’s a matter of personal taste to have open plans..if it so bothers you, it is relatively easy to construct/replace the divider between the two rooms. For me, it just reminds me of so many of the Upper East side coops where each room is partitioned off and hallways/doors end up taking a lot of valuable living space.
A trend that has stayed here in the city is folding or pocket walls used as dividers….to me the best of both worlds and a trend I really didn’t discover in Chicago. It was either newer construction inspired open plans or walled off rooms.
Westloopo — I think you hold the majority view … you make interesting points about pocket doors and so on. I’m still a huge proponent of galley kitchens in condos/apartments (an open dining/living is OK with me — it’s the bar kitchen that I loathe, where you have a great view of your stainless steel fridge from your sofa).
“it’s the bar kitchen that I loathe, where you have a great view of your stainless steel fridge from your sofa).”
But if your LR/DR combo room is 14×16 (as many are) the bar is usually the only space to eat that isn’t the sofa.
Too true. At that point you might as well have a studio and put your bedroom in that room, too.
ALT,
i agree the jump is not justified, and the prices is high. i am not taken back by the property either. but…….when compared to the standard 2/2 and its institutional exterior around chicago. this unit provides a unique and good vibe. which should/will have a premium attached.
how much of a premium is up to the next buyer to decide.
OVERPRICED. But i like the place a lot. $550K seems more realistic… especially with those taxes. Yikes.
What do you guys think is a realistic price/sqft in this neighborhood with those finishes?
Unit #3 trying again. This time @ $625k.
Not enough of a drop. Why not drop to $599,900 and there’d be a lot more buyers interested?
So it’s still above the 2005 price and the sellers are still living in fantasy land pretending the world around them has nothing to do with their spectacular, unique property?
They are stubborn let’s see if they ever go below their 2005 price or instead just take it off the market in a huff. That strategy hasn’t worked out so well for them for a couple years.