ChicagoNorth Side

Terror towers: What’s wrong with 2000 Lincoln Park West?

by Joseph Askins on 1/24/11

2000 Lincoln Park West, Chicago2000 Lincoln Park West may benefit from some beautiful views, but the numbers there sure aren’t pretty.

Homes that sold for $446 a square foot in 2005 are back on the market at $227 a square foot. An 11th-floor two-bedroom / two-bath with 1,700 square feet that sold for $732,000 is now available for $383,000. Studios that sold in the $200s and $300s are now priced below $100,000.

Eight of the 15 active listings in the building are flagged as short sales at Redfin, and at least 14 units in the building have gone into foreclosure in the past two years, according to Blockshopper.

At least one listing says that due to a high percentage of rentals in the building, purchases can only be made with cash or portfolio loans. The only rentals currently listed on the MLS are one-bedrooms listed at $1,625 and $1,895.

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{ 8 comments… read them below or add one }

Jeff January 24, 2011 at 2:18 PM

The major problem with the building are the large assesments (in the mid 800′s for a 2br 2ba foreclosure), and the high taxes. It makes the unit a lot less affordable to purchase and qualify for a loan.

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Sheridan B January 25, 2011 at 3:31 PM

That’s exactly where the assessments should be for a building of that age and vintage. I know it’s unpopular to say that, but it’s the reality of proper maintenance and care of buildings like that.

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Chuck B. January 3, 2013 at 3:36 PM

2000 LPW is one of the” Best Vintage Building” and most beautifully restored in all of Chicago. This building has now endured 2 Great Depressions. 80 years later its still the best of the best.
If your looking for a great Condominium Purchase, toss your realtor and or experts that are neysayers and buy while you can aford to do so. Knowledgable buyers realize why a vintage building with services, multi elevators and all utilities in their assesstments are higher that other post modern Highrises. That certainly would never be less!

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Joe Zekas January 3, 2013 at 3:39 PM

Do you seriously think anyone is going to take the advice of an anonymouse over the advice of their Realtor and hired experts?

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Chuck B. January 3, 2013 at 3:56 PM

My name or yours is not important. Study the building, budgets first. I am also a Realtor and I bet you are too. The building is the most quality Vintgage building in Lincoln Park. Today its “easy to talk anything down after prices fell. We just went through a financial collapse and many buildings had investor owned and owner occupied owners that went in the tank throught America.
If you are truly qualified to own and you want privacy and a Hallmark of Quality Construction from the 1930′s, its one of the Best Places to live in Chicago.
As New Residents take ownership, prices will rise based on True supply and demadafterwards.

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Joe Zekas January 3, 2013 at 6:53 PM

I’m not a Realtor. If you were one you could have easily verified that instead of making ill-informed bets.

If you are a Realtor, and you have any financial stake in this property or a listing in it, you’re violating the NAR Code of Ethics and Federal Trade Commission rules with this anonymous touting. All the more reason to disregard anything you have to say.

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Owner @ 2000NLPW January 24, 2013 at 11:02 PM

Joe – you’re a dick. the building is great. I own and have lived here for 5 years. can’t pick a better spot than this in LP.

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Joe Zekas January 24, 2013 at 11:18 PM

owner @ 2000NLPW – if that’s what you are.

You just highlighted another problem with the building – having to live with a resident who’s a cowardly, anonymous, name-calling creep.

Care to dispute any of the facts I presented?

Reply

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