Friday, April 03, 2020

Owner cashes out on three Lincoln Park properties for $2,685,000, new construction "two-unit" condo buildings on the way

Three contiguous detached properties at 2768-2672 N Burling in Lincoln Park sold last year to two separate owners. Two small frame cottages are being redeveloped while the three-flat to the right remains for now. All photos Eric Rojas, Broker, Kale Realty
I've been a fan of North Burling Street in Lincoln Park since waaaayyy back. Like 1998! I especially like the 2400 Block of North Burling (it was between my old office and the old Children's Memorial Hospital campus where my wife worked). The 2400-2800 blocks of Burling in Lincoln Park offer an eclectic mix of old and new residential housing. The blocks have also maintained several rental multi-units in what has become a very expensive area in the city.

Bob came across a couple new construction projects on the 2600 Block of North Burling yesterday. The small frame cottage at 2668 N Burling was closed on 9/20/19 for $875,000 and the cottage  at 2670 N Burling on 9/27 for $875,000. The lots measure 25'x109' ($321.00 per sq/ft for the dirt). A few months 2672 N Burling (three unit building to the far right in the above photo) was also sold on 12/13/19 for $935K. The three contiguous properties were offered up by the same owner.  The three-unit building at 2672 N Burling looks like it will remain an owner occupied three-flat.

As far as the development goes make way for 4 new construction condos in what looks like two single family homes. Two unit condo buildings are not that common and it is an interesting choice for developers. Only one new unit is presently being marketed as "coming soon" at 2668 N Burling, Unit 2...a 3 Beds, 2.1 Baths penthouse for $1,375,000. No mention whether parking was included at that price?

Times have changed! Back in 2011 I wrote about these single family home foreclosures on the same 2600 Block of North Burling.  Read the post HERE

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