Monday, October 16, 2017

Lincoln Park high-end new construction from 2038 - 2050 North Clark Street underway

We stopped by Lincoln Park last week to check out demo and construction progress at 2050 N Clark Street.  The 32 unit new construction building sits on an irregular angle lot. I can't find a purchase price for the property but there was a $2.6 million mortgage in 2016 and a $11 million mortgage documented at the address.

A little kid's dream... backhoe on a huge pile of dirt!
Another project a few doors down (shown above) at 2038-2040 N Clark is replacing a long time parking garage with new "$1M-$3M" condos.
This is a tony block in East Lincoln Park that has maintained sort of an old feel. Two significant new construction buildings is a fairly dramatic departure for this stretch near the Lincoln Park Zoo and the lakefront parks. It makes sense (to me) to add residential here near cultural amenities and jobs. The 2050 N Clark building will be a vast improvement over the one story commercial building it is replacing. The loss of the many spots in the parking garage development is a shock to neighbors, workers and shoppers that rely on it.  

Several condos from 1900 North Clark to 2100 North Clark have sold from $365,000 to $740,000 over the last 2 years. A beautiful row house recently sold for $1,975,000 at 1910 N Clark Street. In my estimation this location will have plenty of demand for high -end condo sales and apartment rentals.

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