Monday, September 17, 2018

Little building boom on North Clark Street in Lincoln Park asking premium prices

2050 North Clark, a 32 unit rental building, nears completion.  We last wrote about the project in 2017 after the existing building was demolished. 12 units are shown as rented on the MLS as of last week. All photos Eric Rojas, Broker, Kale Realty.
2050 N Clark Street in 2017 after the existing property was demolished.
The back of the 2050 N Clark Street development on North Orleans Street.
If you live in Lincoln Park or drive through the neighborhood you know it's a construction mess! Large developments and street work everywhere.  This is true for one of my favorite areas of the city to eat and enjoy the lakefront. Two new developments are taking shape just one building apart from each other along the 2000 Block of North Clark Street in Lincoln Park. 

2050 N Clark Street  called Twenty Fifty Lincoln Park (shown above) is a fairly straight forward 32 unit luxury apartment development.  The previous structure was a 1970s looking retail structure and no great loss. 12 units are shown rented on the MLS with monthly rents ranging from a one bedroom unit for $2,650 to $5,995 for a three beds two baths unit (about 1,750 sq/ft).  Several units are shown available on their web site.

2036 N Clark Street shown above was the former Buddy's Garage building. The condo development was a little more controversial according to reports.  225 public, rent-able parking spots were eliminated. The facade of the building remains while a modern glassy addition pops up top. The DNAinfo report quotes the developer suggesting the condo building would have asking prices from about $1M to $3M per unit.  Both buildings stretch back to North Orleans.

The back side of the 2038 North Clark Street development along North Orleans. In a rare gesture both the front and back facades remain in the luxury condo development.

The North Orleans side of the 2036 N Clark development.  

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