Have you heard there may be a top-down authorization (law passed) in Lincoln Park which may force all properties in certain areas to be labeled "landmarked" whose purpose is to preserve the original older properties 'with character' while also attempting to decrease the amount of demolition going on to make way for the mega mansions which have been going up over the past decade.
This would have a huge impact on development and construction in the area not to mention a 'regular' homeowner who is interested in a renovation or addition. Both would see costs soar and the impact on property value would be significant.
Lincoln Park is one of the few areas that has benefited from the construction of these larger single family homes so much that an average tear down in the area is as high as $1.1 million since what is driving the land value are the ceilings of the new developments averaging around $3.3 million.
I am all for preserving the fabric for those who choose to keep and maintain the vintage structures within our community, but when large areas are forced to be considered landmarked to prevent a few buildings from moving aside to keep the developments and new single-family homes coming, I wonder to what end this purpose serves.
Where we really need regulation is on the design pallet of some of these new houses (here and throughout the city). I have no idea how some of thise ugly monstrosities are being built but let's police the general facade improvements and not limit the development opportunities which are significantly improving the land values in our neighborhood
Absolutely stunning 1800 square foot chic-vintage 3BR condo in Edgewater at 1432 W Elmdale. Large front living room and sitting area with extra wide entry foyer. Custom built cabinetry and hardware throughout. Large bedrooms and ample closet storage. Separate dining area and family room off of this custom gourmet chef’s kitchen with Viking oven.
