Historic West Arlington in Lincoln Park great for guests and residents alike

Chicago Getaway Hostel 616 W Arlington, Chicago IL 60614

I took a few early November shots of the 600 block of West Arlington in Lincoln Park. The block is part of the beautiful Deming-Arlington Historic District. It is also home to the Chicago Getaway Hostel housed in a gorgeous vintage building. It is an unbeatable representation of Lincoln Park living for our domestic and international guests.

Welcome!

High-end vintage properties are the standard here.  623 W Arlington is currently listed at $6.9 million.  The highest closing within a block over the last two years is 626 W Arlington for $2,675,000 closed in June 2016.  The double lot home maintains the vintage facade with modern updates.  Considering the oversized 50'x174' lot in this location $2.6 million was a bargain.

A beautiful residence on the 600 block of West Arlington. #FLYTHEW Go Cubs Go!

The area can be enjoyed with affordable accommodations for visitors at the hostel and for relatively cheaper means for locals. Studio and one bedroom apartments on the street have some from $110,000 to $239,000 and smaller two bedrooms sales from $300,000-$340,000.

555 W Arlington offers entry level purchase prices and rents to a premier Chicago location

Lincoln Park vintage building in Arlington-Deming Historic District to be demolished

A vintage two-flat with a coach house located in the charming Arlington-Deming Historic District of Lincoln Park will be demolished. My business partner Bob resides in Lincoln Park near this block and noticed the fencing yesterday at 516-518 West Arlington Place, Chicago IL 60614. A quick check at my www.Chicagocityscape.com account shows a demo permit had been issued September 25th, 2020. The RM-6 zoning means a taller building with more units is permitted on the lot.

A small vintage multi-unit building and coach house at 516-518 West Arlington Place (All photos Bob DePalma, Eric Rojas, Brokers, Kale Realty)

The building has some history with zoning and development struggles. Back in 2006 the owner at the time tried to redevelopment the parcel despite the down-zoning of the block in 2002. The plans were rejected by the 43rd Ward alderman and Chicago Plan Commission at the time. That same owner purchased the building in 1996 for $340,000 and recently sold the parcel this year for $2,900,000 (sale was recorded in January of this year, source Cook County Recorder of Deeds). Not bad!

No permits have been issued for new construction on the site as of yet and I have not seen a proposal on  the 43rd Ward alderman site.

Check out more posts around the Arlington-Deming area of Lincoln Park HERE

Lake View, Lincoln Park whole condo buildings bought to "go rental"

You may be able to rent newly renovated high-rise apartments steps from Belmont Harbor soon (All photos Eric Rojas, Broker, Kale Realty)

Our office chatted about a Crain's story today reporting the possible "de-conversion" of 420 West Belmont in East Lake View.  The 50 year old high-rise condo building may have been sold to investors that will convert the condos back to rental units. Other than the number of units involved (207) a de-conversion to rentals is not unusual in this market.  75% of the condo owners must vote to sell the building as a whole with proceeds paid out as a percentage of ownership.

Crain's pointed out in December 2625 N Clark Street was purchased for $35 million to convert to rental (subscription required). 133 units were sold with an average price of $263,000 a unit according to their report and $6 million will be invested for renovations.  The last MLS listed property to sell on the market at 2625 N Clark was a one bedroom condo Unit 1108 for $172,000 cash closed on January 29th.  That's a nice return for about 10 months!  Two other one bedroom units sold near the end of 2015 for an average of $160,000. They stood to sell for $100K net profit over individual sale market rates if they held on one year.

Lincoln Centre Condos shown here in 2015 were purchased and torn down this year to build rental apartments (all photos Eric Rojas, Broker, Kale Realty

We've blogged about another dramatic "de-conversions" in Lincoln Park.  The infamous Lincoln Centre Condos  (30 units and retail space) shown above were purchased for over $11 million dollars in 2015. The building has been torn down to build 191 new rental apartment units.

The entire condo building at 555 West Arlington in Lincoln Park was "sold to a developer for land value".

Another recent Lincoln Park de-conversion I've come across is 555 West Arlington in the gorgeous Deming-Arlington Historic District. The 36 unit 1960s condo building with unfortunate architecture was "sold to a developer" for "land value" earlier this year. MLS and Recorder of Deeds records show last unit sales to the developer in the mid $300s for one bedroom condos.  $100-$200K above the market rate prices for individual market rate condos in the building.

 I do not have the sales price of 555 West Arlington at this time but a mortgage was taken out for almost $17,000,000 per Cook County Recorder of Deeds records.  A $7,000 electrical wiring permit and $50,000 alteration permit was issued for the building which suggests they will refurbish and rent out the units. 

We have one client and their condo board in North Center who have discussed selling their whole building so they may receive much higher sales prices than their individual condos would achieve. It is on the table for this spring.

House of Wings Lincoln Park gets new million dollar neighbors on Arlington

A vacant 5,899 sq/ft lot adjacent to House of Wings in Lincoln Park sold for $4,775,000 in 2017 or $809.00 per sq/ft. All photos Eric Rojas, Broker, Kale Realty

Ever pricier new construction condos have no want for demand.  445 W Arlington Place Chicago, IL 60614 is a new 8 unit high-end condo development at North Clark and West Arlington in Lincoln Park. The Booth Hansen designed building boasts four of the six pre-construction units under contract with prices ranging from $1,360,000 to $2,300,000.  That's a spicy hot wing!

The vacant lot was sold for development in 2017 for $4,775,000 according to public records.

Home and condo sales in Alcott School district, Lincoln Park

The new play-lot at Alcott School 2625 N Orchard Street in Lincoln Park

We've been in Lincoln Park this week prepping another listing in Alcott School district.  The four beds, three baths duplex-up condo sits right across from the desirable public school in a fantastic location.  Here's a look at single family home and condo sales in Alcott School district boundaries.


Alcott School district single family home sales January 1st to August 12th, 2016

12 homes have sold in Alcott School district boundaries this year with a median price of $2,000,000.  Only seven homes sold over the same period in 2015 with a median price of about $1.5 million. Compare those numbers to four years ago in 2012 when only five homes sold with a median price at about $1,050,000.

• The highest priced sold home is 626 W Arlington Pl , Chicago, Illinois 60614 for $2,675,000.  The vintage brick Victorian built in 1880 with updated interior sits on a 50'x174' lot... wow!

• The lowest price sold house in Alcott is 2715 N Mildred Ave, Chicago, Illinois 60614 for $775,000.  The move-in condition home near the CTA Diversey Brown Line stop was marketed as a "tear-down/ renovation opportunity".  Welcome to Lincoln Park.

 Alcott School district condo (attached units) sales January 1st to August 12th, 2016
65 attached condo units sold thus far with a median price of $585,000. Compare that with just four years ago in 2012 when 37 condo units sold for a median price of only $435,000 in Alcott School district.

• The highest priced sold unit is  2600 N Lakeview Ave Unit 8B, Chicago, Illinois 60614 for $1,525,000.  The four beds high rise unit on the lakefront weighs in at 3500 sq/ft.

• The lowest priced sold unit is 555 W Arlington Pl Unit 507, Chicago, Illinois 60614 for $110,000.  The studio unit makes for a great "in town" or cheap city living for the urban devotee in a top location.

 

Closing time! 706 Cynthia in Glendale Heights

Sold! 706 Cynthia Lane, Glendale Heights IL 60139

Congrats to our repeat clients who asked us to represent the sale of their mother's home in Glendale Heights.  We appreciate the sensitive nature of each client's situation and thankful to have their trust! After multiple offers and inspections a ready willing and able buyer came through.

Glamorous Realtor perks!

I attended the closing yesterday on behalf of the sellers in Arlington Heights.  We manage the process in person from the home evaluation to the closing. Plus, some title companies have great coffee and snacks!

Watch the Video: New construction, re-sales bloom on North Orchard in Lincoln Park

A quick video look at the 2400 block of North Orchard in Lincoln Park.  There are several luxury new homes, re-sales and developments going on is a short stretch of the street. The first home shown was sold in 2009 for $2.5 million as a short sale.




The 2400 block of North Orchard in Lincoln Park is distinct in several ways.  It's a Chicago landmarked block (part of Arlington-Deming District) featuring gorgeous row homes set back with leafy front yards, stately gray stones, painted ladies and now...new construction. 


It is also adjacent to some of Children Memorial Hospital's offices and across Fullerton from the main hospital building (which is moving next year and the site will be redeveloped).  The hospital's departure will definitely alter the immediate feel of the neighborhood.  DePaul University is also just a block away, along with shops, cafes and bars lining Halsted Street and Lincoln Avenue around the corner.  There is a great buzz of busy people, patrons and students.


The 2400 block of North Orchard enjoys Clark Street retail and dining and is a hop, skip and jump to the popular lakefront destinations.

2444 N Orchard to the right sold in 2009 for $2,500,000. There is no listing or cancelled listing for the new construction on the left.

This home at 2436 N Orchard is for sale at $950,000 and will need complete gut rehab.

New and old.

These homes have been shuttered for years.  The development was recently advertised at $499,000 for each landmarked structure

Walking past these homes never gets old.

2430 N Orchard is currently for sale at $2.1 million

The row homes that  make Lincoln Park distinctive

All photos by Eric Rojas and Robert DePalma, Real Estate Brokers unless otherwise noted.

Check out this LINK at YoChicago.com for more insight and video of this location.

Unique "Gallery" development under way on West Wrightwood, Lincoln Park

659 W Wrightwood, Chicago IL 60614 is a residential building being converted to a gallery.  The construction permits were granted starting back in 2014. Permits estimating over $30 million in work have been recorded. All photos Eric Rojas, Broker, Kale Realty

The building addition can be seen from the side (looking southeast in this photo over the stunning custom single family home next door)

I stopped and took a look at a development long in the making on a beautiful Lincoln Park block near the Arlington-Deming District.  659 West Wrightwood is being converted from a residential building to a "cultural gallery/ museum" space (to paraphrase).  There is little (public) info I can find on what the subject of the "gallery/museum/ cultural space" of this building will be.  That is a bit surprising for a unique development in a highly desirable area.

In any case it is a bold undertaking on this mostly residential block with permits totaling over $30 million in estimated work according to public filings. I reached out to the 43rd Ward office late this afternoon and asked about the progress.  We'll see what I hear.

The facade has maintained its limestone and detail. Rare in this part of town and for such an expensive renovation!

 

Lincoln Park landmarked property under contract

At the end of August we pointed out this property at 2436 N Orchard for sale at $950,000.  It is now under contract as of early September after about 30 days on the market.  The home is part of the Arlington-Deming Landmark District (I believe this landmark status is still under review) and sits on a coveted extra wide lot at 37.5 feet wide and 125 feet long.  According to the listing agent, it will need a full gut renovation. (I mention it's a "tear-down" in the video below, but at least the facade will have to remain due to the landmark district).


Watch the video of the block:





More posts on Lincoln Park HERE

Taste of Peru coming to North Clark Street, Lincoln Park

I took a couple photos a few weeks ago of a new Peruvian restaurant coming to Lincoln Park.  Chopo Chicken will move into the space at 2460 N Clark.  I checked out the Facebook page and it does not look to have opened yet.  It will be a great addition to the diverse offerings of North Clark Street.  It's one of my favorite areas to eat in the city.

They've created a really cool mural facing Arlington Place. Good luck this New Year!

This Ain't the Mickey Mouse Club: Mickey's Snack Bar in Lincoln Park

Memorial Day weekend was spent visiting friend's houses and walking the city. Monday, we did shopping in East Lakeview for travel books, took a spin on the lakefront and came up Fullerton Ave to Clark Street for an early lunch.

We decided on Mickey's Snack Bar at 2450 N Clark at beautiful Arlington Steet in Lincoln Park. The real estate here just east of Clark headed towards the lake is really gorgeous.

Mickey's is not your usual place for babies, but Ryne can party with the best of them and they have a great outdoor terrace on Clark Street.

Happily, they had ONE high-chair... so we didn't feel too goofy. But it was a holiday at 11AM, so pretty safe timing.

Ryne okayed the menu and ate all our fries.

Cabrini Shrine in Lincoln Park

The shrine was preserved during construction of Lakeview 2550 and enhances the aesthetic of its luxury neighbor. Photo Eric Rojas, Broker, Kale Realty

 I took this shot of the Cabrini Shrine on Tuesday afternoon. Check out their hours visiting hours.  This Lincoln Park area east of North Clark Street along the lakefront may be my favorite area of the city to hang out.  Great bar and restaurant options, beautiful architecture and the lakefront parks.  Stop for lunch on Clark then stroll along West Deming Place, St James, Roslyn, Arlington  and North Lakeview.

Development on beautiful (landmarked) West Deming Place in Lincoln Park

A buyer's private restoration (not a tear down!) is in progress at 538 W Deming Place.  DNAInfo has a nice story concerning the property and the developer performing the work.  The property resides in the Arlington-Deming Landmark District. (All photos Eric Rojas, Broker, Kale Realty)

I had several showings over this past week in East Lincoln Park that allowed me to check out some of my favorite blocks. The 500 block of West Deming Place in particular has some cool properties, ongoing developments and an interesting large vacant lot.  538 West Deming Place shown above was purchased in May of last year for $2,000,000.  The buyer of the vintage home with 190ft deep lot is restoring the home to a more period look. 

This original vintage building at 522 West Deming Place sits on a oversized 42'x190'.  The property was sold for $1,850,351 in 2015. Fences are up, windows boarded and a renovation/ alteration permit was issued late in 2016.

A rare sighting in the dense Park West neighborhood of Lincoln Park! A huge vacant lot spanning about four city lots wide sits between existing vintage properties.

There is no shortage of grand vintage properties to gawk at on the block.

The only sales on the block in the last 12 months have been six condo from the same 27 unit building located at 548 to 562 West Deming. The small condo units sold from $195,000 to $305,000.  You can rent for $1,300, buy for $195,000 or sell for multi millions on the same gorgeous East Lincoln Park block.

Home buying tips: "Feeling European" in Lincoln Park

We recently viewed a duplex condo on the 2400 block of North Geneva Terrace in Lincoln Park for $699,000.  This wonderfully located two block radius features historic properties and a handful of impressive newer construction homes along streets Arlington, Geneva, Deming, Fullerton and Orchard.


Our clients coming from downtown had actually never been to this block.  When they stepped out of the car the first thing they said was it "...feels like a European town". Bob and I stress loving the location and general aesthetic of your surroundings.  Your great Chicago location is most important and will make it easier to make compromises on physical features of the home. You'll be glad you did not compromise on location!

Check out a short video look from last year at the 2400 block of North Orchard a street over.  This summer I'll take a video walk around several of these blocks to update what's going on.