chicago-condos Dave on 22 Oct 2007 06:20 pm
New condo development in North Kenwood
A new condominium development has been announced for North Kenwood.
A total of 80 new units will be built at 4501-4521 South Cottage Grove Ave. The Chicago Community Development Commission has approved the sale of the property to Cottage Grove Development LLC.
The developer is still waiting for the final approval from the Chicago City Council before construction can begin.
Plans call for a seven-story building that will offer a mix of residential and 25,000 square feet in new retail space.
Cottage Grove Development plans to offer 10 units for affordable housing in the neighborhood.
Buyers will be able to choose from floor plans ranging from two- to three-bedroom condominiums. Two-bedroom condominiums start at 1,250 square feet of total living space, while three-bedroom condominiums offer as much as 1,650 square feet.
Prices for market-rate condominiums start at $281,000 for a two-bedroom unit to as much as $370,000 for the largest three-bedroom condominiums.
The 10 units earmarked for affordable housing will be offered at $175,000.
The new development in North Kenwood is one of several new projects for Chicago Condos underway in neighborhoods around the city.
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