Friday, May 27, 2016

Landmark Fullerton State Bank in Lincoln Park sold for $2 million, still vacant

1425 West Fullerton stands vacant as of 5/26/16. Photo Eric Rojas, Broker, Kale Realty
I had some business along the 1400 block of West Fullerton in Lincoln Park last week and snapped a photo of the long vacant  landmark Fullerton State Bank building.  The building was purchased in 2013 for $2,000,000 according to public records and the development proposals were laid out in 2014 . There are no construction permits currently issued for the building but a handful of City violations are recorded.

I have a little history with the building.  My wife and I once worked with a loan officer in the building with LakeShore Funding. He quoted us a mortgage interest rate and then "floated the rate".  When our rate was higher when signing off the disclosure packet we questioned how this happened.  When told, my wife just about torched the place. Needless to say we were made whole on the deal.

A two bedrooms, two baths newer construction condo with garage parking at 1442 W Fullerton Ave Unit 2B, Chicago, Illinois 60614 (across the street) recently sold for $456,000. 

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