Monthly ArchiveOctober 2007

chicago-condos Dave on 28 Oct 2007

New luxury condos planned for 565 Quincy

The West Loop will get yet another luxury condominium development when construction at 565 Quincy wraps up in 2009.

Belgravia Group is the developer behind 565 Quincy. The Chicago-based developer has more than 50 years of experience in the market and has built some of the Best Chicago Condos.

565 Quincy will offer units ranging from 547 to 1,335 square feet. Prices for the smallest units start at $200,000 while the largest units are priced up to $450,000.

Residents will enjoy many excellent amenities at 565 Quincy. The Q Room at 565 Quincy offers a private bowling alley, media room, modern health club, and lounge. The rooftop deck has a cooking area for entertaining friends or just getting some sun during the summer.

Residents will also enjoy the extra storage space, indoor heated parking, and 24-hour doorman service.

Each unit offers the standard array of stainless steel appliances, granite countertops, and 42 inch cabinets in the kitchen.

Residents will love the central location, just minutes from Union Station and the downtown Chicago business district.

The neighborhood is also home to many of the best restaurants, shopping, and cultural events that Chicago has to offer.

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chicago-condos Dave on 25 Oct 2007

Prices plummet in Glenview

If you’re shopping for a condo in the Chicago suburbs, you may want to check out what’s going on in Glenview.  The north shore neighborhood has seen a huge drop in the average sales price for condominiums.

According to the third quarter report from the Chicago Association of Realtors, the average sales price in Glenview dropped by 21 percent from the same period last year, one of the largest declines for any Chicago suburb.

The average sales price now stands at about $250,000, just under $100,000 less than last year.

It’s truly a buyer’s market in the city, as condos sit on the market an average of 111 days.  The turnover time increased by 44 percent in just one year, and by over 200 percent in five years.

However, despite the marked drop in prices for condos in Glenview, demand continues to drop to levels not seen in several years.

A total of 70 condominiums were sold in the city during the third quarter, the lowest total for the quarter since 1995.

If you’re on the market for quality north shore real estate, you can find some of the best Chicago Condos at a bargain in Glenview.

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chicago-condos Dave on 23 Oct 2007

Average sales price for condos drops in North Center

The average sales price for a condominium in North Center dropped by 2 percent during the third quarter, according to a new report from the Chicago Association of Realtors.

The decline in prices for condos in the neighborhood is the first since 2000.

The market is responding to a marked increase in the turnover time for condos and lofts on the market in North Center.

According to the C.A.R. report, if you are selling your condo in North Center, it will now take you an average of 103 days to find a buyer.  This is an 18 percent increase in just one year, and bad news for condo owners and developers.

There are also more condos currently for sale on the market.  Demand for condos was up by 3 percent during the third quarter, but it was still not enough to absorb the new properties for sale in North Center.

It’s definitely looking like a buyer’s market in North Center.  If you’re looking for a condo in the area, bargain hard for a price that reflects the current market conditions and don’t get caught buying at the peak.

Find the best Chicago Condos on the market and move into the home of your dreams today.

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