Rare Lincoln Park "boutique" one bedroom condo sales

The boutique 48 unit mid-rise at 2700 N Halsted, Chicago IL 60614 this morning. The last couple one bedrooms with garage parking to hit the market have sold quickly. The building is known for great location, elevators, nice common roof-deck and heated garage. Photo Eric Rojas, Broker, Kale Realty

I met a long time associate and client this morning in Lincoln Park to evaluate a condo sale.  It's time to part with a one bedroom unit with garage parking on Halsted Street now that she's a single family home owner.  Let's take a look at Lincoln Park one bedroom condo sales in smaller buildings.

One bedroom, one bath, garage parking in buildings under 60 units.
No one bedroom condo units (including garage parking) in buildings less than 60 units have closed thus far in 2015.  This backs us into the fact that there are relatively few of these units available.  Most one bedroom units with garage parking are typically in large high-rise buildings near the lake.  The true "high-rise" lifestyle (with valet parking and big assessments) is not for everyone.

One unit (one bedroom, one bath, garage parking, under 60 units) is under contract with an asking price of $299,000. Five more units are actively for sale with a median asking price of $280,000.

The North Halsted street scape along several blocks of northern Lincoln Park has really filled in.  There are few small frame or original brick buildings remaining.

In 2014, only 11 units closed with the criteria of one bedroom, one bathroom, garage parking and under 60 units.  The median price was a very reasonable $250,000. These buildings are desirable as they tend to be embedded "in the neighborhoods" and carry a lower assessment per unit (about $250.00/ month on average).

Remove the 60 unit restriction and 110 units are recorded as closed for 2014.  Of course many of these high-rise units have rental parking "included" at an extra fee.

Keep a watchful eye on the Lincoln Park market if you'd like a nice, low assessment one bedroom unit with garage parking truly included.  Not many will be available in 2015.

Does Lake Point Tower still got "it"?

I think so. With the 40th anniversary event coming up for this Chicago icon, it made it only more exciting to work with clients looking into Lake Point Tower for a purchase.

I mean, look at it!

I found a fun blog about its 40th Anniversary and the building in general HERE

Recently, several one bedroom units with about 1100 square feet and killer views have come on well under $400,000. When looking at recent one bedroom sales in full amenity, luxury buildings nearby, it's hard to compete with a home at this address from $350,000-$450,000. Why not go all the way to the point? I love the floor-plans of the one bedrooms and the building amenities such as the fitness club have been updated. All amenities, pool, fitness club, private park... are included in the assessments.

The building is vibrant with older and newer "who's who" residents creating an atmosphere that exudes fully the city life. Average Joes like me and you are welcome too.

Trump for Chump Change: Gold Coast to River North One Bedroom Deals

Stepping out of 405 N Wabash, surrounded by iconic architecture everyday like Trump Tower and the Wrigley Building. 405 N Wabash is a solid building right next to Trump Tower with nice pool, fitness area and terrific entrance plaza. A one bedroom condo can be had for under $200,000.

I've been in Gold Coast and River North neighborhoods quite a bit lately with clients looking to take advantage of the currents market. There was a glut of condos sold to investors over the past several years... and of course that party is over. Many of those units are selling off short-sale and the buildings themselves pose a risk and reward. Sure you can get a good deal, but what will become of the condo association when everything shakes out? I think this opportunity is fit for the second home buyer or someone with reserve cash that can weather any issues in the coming 5 years.

For my first time buyers who covet these neighborhoods with their amenities and their views, we tend to look at established buildings that also offer good buys now. My clients have found out quickly that once you put all the puzzle pieces together- location, view, good building, nice unit, parking options, building amenities- the choices shrink fast.

A couple of my favorite buildings going north for deals and views include 10 E Ontario (great amenities, sharp looking building and you can score PARKING with a unit for the $240s!) and 88 W Schiller (The Lowell House) for great lake views and location near Lincoln Park as well.

New Listing in East Lakeview: Modern Junior One Bedroom

Check out the Internet ad below for my new listing at 519 W Melrose #301 in East Lakeview. This is a very sharp junior one bedroom almost on the lake. Everything you need and a location you want for under $200,000.

Property information with virtual tour link

Realtor.com for 519 W Melrose #301

Best in Show: Lincoln Park under $300K

If I'm single, I want to live in the best place for a single person in Chicago. And if I'm single, I'm buying a one bedroom in Lincoln Park. For under $300K, you can get a vintage top floor one bedroom within the four block radius of Armitage and Halsted with a decent kitchen and bath, dining room, in-unit washer and dryer, central air, a deck, and permit street parking. I just viewed one that hit the market this week at $269K and was shocked... first place the client saw but it's THE ONE. I figured we were in for a long line of dumps.

This market is hot though. It's easy to tell the duds from the studs and several of these units have sold fast this year already. People jump on them... it's Lincoln Park. And not fake Lincoln Park by Ashland.

Modern Chicago Condo to come on the Market in East Lakeview

I just went over to a new client's home tonight to check out their place. It's a one bedroom condo with a formal dining room, washer/dryer combo, new kitchen, newer windows, new door and window trim, awesome original re-finished oak floors...etc, etc...

However, this place is architect owned and the kitchen is totally custom. It's awesome, right out of dwell magazine. The updates in this place are modern and kick-ass. I love it. Just fantastic detail.

We should be bringing this to market in about a month. We went over some of the things that will be finished... there will be a total bath rehab done before listing too.

Don't even call me if you won't appreciate a mod style rehab of a vintage unit. Pretty street by the lake in East Lakeview and a prettier unit.

The condo is located on the 500 block of West Roscoe. Price will be around $289,000. Assessment is about $300 and includes heat, basic cable water and building maintenance. Great reserve fund too for a 20 unit building.


Some initial photos are on the way. I can't wait to market something really cool like this. As always, call me for a showing before it hits market. We will not put it on the MLS until the bath is done, but It will totally be worth seeing (and selling) before it's done. If you are looking for a condo from $200,000-$300,000 in Lakeview, you have to see this place.

Photo by eversion