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| Exterior work is ongoing at the old Mulligan School 1855 N Sheffield, Lincoln Park (Photo Robert DePalma Real Estate Broker, Kale Realty) |
We were in the
Lincoln Park neighborhood this weekend showing properties around Sheffield and Armitage. We stopped to check out progress on a very interesting apartment conversion.
Crain's reported in September on the $4 million dollar sale of the closed down Mulligan Elementary. The building has sat vacant for since 2001 but will now be converted to rental apartments.
It's a really cool project. Personally, I don't think I've been in or seen another converted Chicago Public School building. It does remind me a little of the
Trevi Square in South Loop. The former hospital building is of similar vintage and has some unique loft units.
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Photo of Trevi Square lofts www.YoChicago.com
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The Crain's story cites the development will be 24 units and that the surrounding neighborhood associations have been supportive. The building is located in
Mayer Elementary School district.
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| Photos of 1855 N Sheffield, Bob DePalma Real Estate Broker, Kale Realty |
We have no doubt newly converted apartment units at this Lincoln Park location will have a high demand and bring in a premium for rent. Bring your checkbook and open up your wallet... it won't be cheap!
The median monthly rent for a MLS listed two bedrooms, two baths rental unit is about $2,500 a month in Lincoln Park. Stats gathered from MREDLLC.com
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