Will the Third Time Be the Charm for the Development at 2750 N. Lakewood in Lincoln Park?
Just when we were chattering about whether or not there would be any new construction for years to come in the green zone areas, comes the announcement that these 9 new construction townhomes and 2 duplex condos at 2750 N. Lakewood in Lincoln Park are coming (back) on the market.
According to YoChicago, which tracks all the new construction, this development was scheduled to begin construction in 2008, and then, apparently, again in 2009.
According to YoChicago, the developer had several presales back in January 2009.
Those presales apparently still exist as the press release says that 25% of the units have sold.
“These homes definitely defy what people traditionally think of in terms of a rowhome or condominium in Lincoln Park,” said Goldberg.
Just as striking as the homes’ modern interiors are their brick, metal and wood-clad exteriors, said Jim Plunkard, principal of Hartshorne Plunkard. “This development is sleek and timeless, and sure to appeal to a very sophisticated buyer,” he said.
In fact, Goldberg noted, more than a quarter of the townhomes were sold prior to the development’s groundbreaking. “These homes are far from ordinary and since there are only 11, it is a very exclusive offering. I think that’s why we have already seen such strong interest,” he said. “And as Row 2750 gets closer to completion, buyers will be able to see these amazing homes come to life.”
I’ve been told that the presales include one of the 2-bedroom duplex condos and 2 of the townhouses.
Prices range as follows:
- From $699,000 to $1.399 million
- For 1890 to 4100 square feet
Have the market conditions improved enough that this development will finally get off the ground in 2010?
You can see the development’s website here.
Press release for Row2750.
There are no trees on this stretch of Lakewood at all. There are just two big empty lots on either side of the street. I wish something would get built because it makes for a really warm walk when I hit this street.
So they supposedly sold 3. Whoop. How many are insiders in terms of sales?
Lenders are very careful about vetting pre-sales these days. I know the guys at LG and they are a class act. They have adjusted their pricing and I think project will do well.
MGG
Is there a more Godforsaken stretch anywhere in “LP”?
OT, walking down Orchard last evening and I overheard the funniest 5 seconds of teenage conversation I’ll probably ever hear. It’s group of skateboard kids and one says “yeah we live over by Southport”, this snotty Lincoln Park kid holding a skateboard and wearing a Race to Mackinac tee-shirt responds “so you live in So Poor?”.
Classic.
So Poor! That’s why our kids and their fake Crocs are going to public pre-school. Ha.
Sleek, yes. Timeless, no.
Timeless huh? Cool look very sleek and a nice complement to the area but timeless I don’t know.
I wonder where I can purchase some of that magnifying glass they must have installed in the windows. Look at the photo’s in the gallery area. They are at 2800 north and the windows make the Hancock appear that it is right down the street.
I’m going to go out and buy up all the south facing condos in Edgewater, install that glass, make everyone feel closer to downtown and flip the units for big profits. All I need is to find the source for those magnifying glass windows!
Does anyone know where to get them?
These will not be built until 2015 or later.
SoPoor?
bhahahaha
and oh man the background skyline renderings are WAY OFF
I’m going to start telling everyone I live in the “So Poor Corridor”. It rhymes and everything!
As long as Homedelte posts as much as he does, you can feel confident the economy is not too bad. Who is this loser who claims to be an attorney yet spends half his day posting on this so 2008 blog?
Free advise HD… Work harder and you can someday save enough to buy your own home. The next peice is going to cost you.
These look exactly like the condos built on Crystal in Wicker Park. Not my style, but they are cool. The only problem is that they dont really fit in on Crystal or WP, where there are a lot of older properties, and I know they wont look quite right in LP either. Might be more appealing in bucktown or some place with modern architecture.
Who is this loser who can’t spell at 5th grade level?
“Free advise HD… Work harder and you can someday save enough to buy your own home. The next peice is going to cost you.”
SH:
I use my time efficiently, I don’t bill by the hour, I often settle large cases or win large jury verdicts. And I’m in the office a lot.
OK maybe I exaggerated a bit on the large jury verdicts 🙂
“These homes definitely defy what people traditionally think of in terms of a rowhome or condominium in Lincoln Park,” said Goldberg.
When I think of a rowhouse in LP, I think of a house that’s in, well, the neighborhood of LP… not the neighborhood of Wrightwood.
It amazes me that in spite of being in the middle of the crash, this stuff still goes on: building overly expensive homes in sub-prime neighborhoods. What’s even scarier is that people will buy these; more future fodder for CC I suppose, and more money people will loose when they try to sell. How about buying the real thing for ‘half’ the price? http://www.rubloff.com/property/chicago/07548614.cfm Sure you can’t look out of your dining room window and see a vivid Hancock tower like the pic on the sales site promises (wtf??), but at least you know you’re buying a piece of the real thing…. oh wait, who really wants that?
“When I think of a rowhouse in LP, I think of a house that’s in, well, the neighborhood of LP… not the neighborhood of Wrightwood.”
I know what you mean, but this is still Lincoln Park. How you could ever classify this as a sub-prime neighborhood (except in the absolute most literal sense of the term) is beyond me.
“How about buying the real thing for ‘half’ the price?”
I’m not sure where $899 is half (or even ‘half’) of $1399, and there’s no such thing as an “easy” conversion from a 2-flat to a SFH, especially when “updated” means updated in 1988. And I doubt the Belden place is as large as these.
All that said, I’d still take the belden place any day of the week.
‘I know what you mean, but this is still Lincoln Park.’
It’s the community of LP, but not the *neighborhood* of LP: http://egov.cityofchicago.org/webportal/COCWebPortal/COC_EDITORIAL/City_Neighborhoods_11x17.pdf In the same way the GC is a *neighborhood* in the community of Near North. I”m tired of brokers renaming neighborhoods to justify a large asking price. It’s been this way well before I moved here as a teenager almost 30 years ago, and I don’t see it changing anytime soon.
‘How you could ever classify this as a sub-prime neighborhood (except in the absolute most literal sense of the term) is beyond me.’
Not sub-prime as in a bad ass area, it’s a nice area, but for townhouses/condos @$1.6M it’s overbuilding for the neighborhood. You see it here all the time.
$1.4M not $1.6M… my mistake.
I was being snarky anon – $899k isn’t half of these places by any stretch. But one of the hallmarks of the LP *neighborhood* are the rowhouses. True they can be smaller than most Americans like and some are in need of renovation, but people pay BIG dollars for those ‘flaws’, because the immediate neighborhood more than makes up for it. I just don’t get walking out by back door onto Diversey and the Jenny Craig strip mall…. for over ONE MILLION DOLLARS!
It reminds me of Disney or the Olive Garden, pick your poison on that one. Why go to Italy to see the real thing when you can visit Orlando or your local strip mall and see/eat the ‘same’ thing? I realize I’m the minority here, but when fake oversells real, there IS a problem.
Ahh yes, everyone’s favorite “Graceland West” (of which I was once a resident) is on that map. Have you ever heard anyone once refer to something being in “Sheffield Neighbors” or “Wrightwood Neighbors”?
I don’t agree with one method or the other, but I think it’s pretty universally accepted (for better or worse) that LP typically refers to the community area. Unless you’re one of those types that disregards anything that’s more than about a 2 block radius away from Armitage/Halsted as not the REAL LP.
“I was being snarky anon – $899k isn’t half of these places by any stretch.”
I know, but there are more than a few literal readers here.
And, as you no doubt recognize, if the Belden place were finished on the conversion and had a new or nearly new kitchen, it would be listed for about the same $1.399.
‘And, as you no doubt recognize, if the Belden place were finished on the conversion and had a new or nearly new kitchen, it would be listed for about the same $1.399’
Yes, but at least you have a proven neighborhood, schools (LP elementary & high), character, location, etc. The house across the street just sold a couple of months ago: http://www.redfin.com/IL/Chicago/535-W-Belden-Ave-60614/home/13349938 Not bad (I looked at it in the early 90’s, prerenovation for the upper $400K… day late and many dollars short).
‘Have you ever heard anyone once refer to something being in “Sheffield Neighbors” or “Wrightwood Neighbors”?’
How about the ‘Sheffield Garden Walk’ or ‘Wrightwood Park’ @ Lincoln and oh, I don’t know…. Wrightwood. The people that cleaned up those neighborhoods are proud of them, and don’t need a broker changing the names for personal profit. Then again I’ve never seen a broker list a house at Astor and Shiller as being located in the ‘Near North Side’ community. And, I’ve never ordered a large filet (!!) at Gene & Georgetti and asked for a venti, regardless of how much Starbucks has tried to teach me otherwise.
“Yes, but at least you have a proven neighborhood, schools (LP elementary & high), character, location, etc. The house across the street just sold a couple of months ago”
Like I said, the Belden place, in it’s current state, for $899, over any of these places, *every* day of the week.