If you'll recall, within the grounds of the Lucien Lagrange-designed Lincoln Park 2520, a sub plot of land sits awaiting some manner of small-scale residential development. Originally, developer Ricker-Murphy planned for 11 townhomes. Now, with word from Crain's, reflected on the Lincoln Park 2520 website, Ricker-Murphy has partnered with homebuilder BGD&C to bring forth no more than five (5) top-of-the-line single family homes. So what gives? We don't know what we don't know, but we've seen a lot of new large homes in Lincoln Park, Lakeview, Roscoe Village, and the like fetching high prices lately, and townhomes are very limiting in that respect (you seldom see one for over a million). Another thing: Ricker-Murphy made a similar shift with a nearby development parcel on St. James Place, dropping plans for eight (8) townhomes and selling the land to Morningstar Inc. chief Joe Mansueto, who is executing his very own 7,200 mansion. So there's a trend.
As you can glean from the "representative custom home" above, used as marketing by the developer, we're talking about monster homes here. Each will take up the space of roughly three townhomes and probably sell for at least three times the price. And each will have an underground four-car garage and share in the security and amenities of the neighboring 39-story tower.
·Lincoln Park developer shifts gears [Crain's]
·Official Site: Lincoln Park 2520
·Complete Coverage of Lincoln Park 2520 [Curbed Chicago]