56 Lippincott Street is a boutique eight-storey complex near Bathurst and College. The $1.2 million urban townhouse is like no other in the area. A block west of Kensington Market, the Lippincott Living Condos was a bold development on a street lined with row houses no more than 14 feet wide.

A former Chicago 58 food warehouse, the modern complex was rebuilt in 2010 by interior-design firm Cecconi Simone and architect Brad Netkin, both known for a range of high profile projects in the city. The development veers from the traditional skybox shoebox, featuring eight spacious units, each at 2,000 square feet over three levels.

This three-bedroom, three bathroom townhome is equivalent to owning a house in this neighbourhood. While real estate prices are slightly cheaper south of College, housing in the city has become less affordable and more first time buyers opting for smaller spaces or family-friendly condos.

This unit is a chic condo-alternative for the upscale buyer. The main floor features an open layout, modern kitchen with built-in seating and a small garden patio. The third floor master is a large space, feeling like a hotel suite, and a narrow hallway leading to a wood framed ensuite.

SPECS

• Address: #5 - 56 Lippincott Street
• Price: $1,245,000
• Square feet: 2,000
• Bedrooms: 3
• Bathrooms: 3
• Parking: 1
• Taxes: $6,266
• Maintenance fee: $591.44/monthly
• Walk Score: 96

NOTABLE FEATURES

• Three storeys
• 10 foot ceilings
• Third floor master with walkout
• South-facing terrace
• Underground parking and locker

GOOD FOR

A modern innovative space geared for urbanites and young families. While the name "Lippincott Living" sounds like a stuffy retirement residence, the intimate building is actually a modern place to inhabit in the downtown core. Less stairs than a typical townhouse and a school across the street, it's ideal for a couple or families and walkable to multiple 'hoods like Little Italy and the Annex.

MOVE ON IF

You want that quiet suburban-style enclave. The "extensive sound-proofing" in the building is no match for this lively neighbourhood. College St. is a busy hub, booming with nightlife, 24-hour streetcars and emergency vehicles from Western Hospital and the nearby fire station.

ADDITIONAL PHOTOS

Would you live next to a hospital? Have your say in the comments.