New eight-flat rehab planned for Edgewater Beach

5434 N Winthrop Ave, ChicagoSpeaking of Edgewater, it’s the site of another one of those “Not Yet Listed” properties Mario Greco‘s promoting right now. His office sent me specs last week for this, a new eight-flat rehab at 5434 N Winthrop Ave, just about a block and a half south of the Red Line’s Bryn Mawr station and a short walk away from both the Foster and Osterman beaches on the northern end of Lincoln Park.

Six two-bedroom / two-bath units will sell from the $320s to the $340s, while two garden-level one-bedrooms are set to be priced in the $230s, according to an early price sheet. Roof rights will be available to the buyers of the two third-floor “penthouses” at $10,000 per home.

Greco’s preliminary specifications seem very preliminary (they’re full of notes and asides about potential changes and alternatives), but the features and finishes stack up something like this: The homes will have oak floors throughout, crown molding in the main living areas, granite countertops, breakfast bars with overhangs, maple kitchen cabinets with undermount lighting, stainless steel appliances and sinks, Grohe showers, stone bath flooring and surrounds, in-unit laundry, and multiple outdoor spaces per plan.

Gated parking will sell for $10,000 per space.

Judging from our NewHomeNotebook entries, the few recent projects in Edgewater Beach have split evenly between new construction on or near Sheridan Road and rehabbed buildings on Winthrop. The new-construction one- to three-bedroom homes at Provenance, 5230 N Kenmore Ave, and 5430 Sheridan, 5430 N Sheridan Rd, range from about the $230s to the $510s (the proposed Bluewater 5440 high-rise on Sheridan would have homes from the $160s to $1.3 million, while the Winthrop projects, including this one, have one- and two-bedrooms ranging from the $160s to the $360s.

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