There are Views and Then There are VIEWS

After soaring into the stratosphere in the last post, I thought I would come back down a little closer to ground-level today. All this interest in million dollar condos sky high started me thinking about some of the loftier full-service residential units available in Lincoln Park.

I started looking at the pricing on some 2-bedroom/2-bath units with similar amenities to see how they stack up. All of these buildings have pools, roof decks and 24-hour doormen. Amazingly, even with these amenities as a baseline, and assessing units with similar square footage, there can be dramatic differences in pricing.

I looked at some of the other qualifying factors such as a park view and parking to see if that might indicate some of the reasons for the dramatic price swings, but surprisingly many of them were consistent in these areas as well. A park view certainly seems to be at least one factor in bumping the price considerably higher: All views are not created equal. Assessments are always a huge factor in high-rise pricing, so those fees are also included below:

This building is new construction by an acclaimed architect: Highest quality finishes, marble baths, fireplace, split level:

2520 N LAKEVIEW Ave #17B2
Price: $797,000
Beds:  2
Baths:  2.1
Sq. Ft.: 1,454
$/Sq. Ft.: $548
Park View: Yes
Parking: Two assigned garage spaces; deeded spaces sold separately
Assessments: $545

This unit includes a balcony, which is nice extra outdoor space, as long as it is not too high. The 27th floor can be quite breezy for a balcony, and certainly is not for agoraphobics:

2500 N LAKEVIEW #2702
Price: $675,000
Beds:  2
Baths:  2
Sq. Ft.: 1,400
$/Sq. Ft.: $482
Park View: Yes
Parking: Two assigned garage spaces
Assessments: $896

This is a solid unit with updated finishes and certainly in the ballpark for Lincoln Park:

2626 N LAKEVIEW #808
Price: $409,900
Beds:  2
Baths:  2
Sq. Ft.: 1,250
$/Sq. Ft.: $328
Park View: No
Parking: Fee-based assigned garage parking
Assessments: $651

This unit was recently price reduced from 369K (good-looking bargain):

345 W FULLERTON Pkwy #904
(No pool)
Price: $349,900
Beds: 2
Baths: 2
Sq. Ft.: 1,200
$/Sq. Ft.: $292
Park View: Yes
Parking: Fee-based assigned garage parking
Assessments: $722

This unit features all new finishes and fixtures in bathrooms and kitchen:

2700 N HAMPDEN Ct #8B
Price: $345,000
Beds:  2
Baths:  2
Park View: Partial
Parking: Fee-based assigned garage parking
Assessments: $439

  • http://www.passthecap.com Pass The Cap

    Very interesting in the assessments are very different. These are per year, right? I’m not sure that would sway me that much.

  • Greg

    It would be nice to think that these assessments are yearly, but unfortunately they are monthly. Generally high rise condominiums have the largest assessments of any condos in the city due to the maintenance costs, pool fees and other amenities.