Has the expensive duplex market in Lincoln Park dried up?

2763 North Southport

This three-unit residential development that was completed last fall at 2736 N Southport Ave is still waiting for a buyer — make that three buyers.

The place was designed by Funke Architects, and it features three duplexes. The largest residence is a 2,200 square-foot, three-bedroom / 2.5-bath duplex spread over the basement and the first floor, while the two others are two-bedroom / 2.5-bath duplexes with 1,500 to 1,600 square feet that share the second and third floors.

(Editor’s note: We had some inconsistent numbers for the floor spaces in the paragraph above. Consider them corrected.)

2763 North SouthportMichael Vesole, the @properties agent marketing 2736 Southport, says the three duplexes have been on the market for about eight months, but he hasn’t managed to secure any buyers. He cites the high price points, which range from the $620s to the $820s, as the likely deterrent.

That may be so, but those prices don’t seem totally out of line with the rest of the neighborhood. According to the most recent New Homes Quick Guide, a new condo development at 1330 W Diversey Ave is offering three-bedroom / 2-bath condos from the $550s, and the fourth-floor units in that building can reach into the $640s. A similar development at 2668 N Halsted St is has two-bedroom / two-bath condos from the $480s to $520s.

So the Funke duplexes are a little pricier than their neighbors, but they also appear to be bigger, they feature designer finishes and have an extra powder room, and a fashionable architect designed the building.

What do you think? Are these places worth it?

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