Monthly ArchiveDecember 2007



chicago-condos Dave on 26 Dec 2007

City to develop Sachs building

The city has bought a long vacant building at 2800 N Milwaukee to develop the property into affordable housing.

The six-floor Morris B. Sachs Building has sat empty for more than 20 years.  The Department of Planning and Development will announce plans for the building next month.  According to city officials, the department is considering proposals for below-market rate housing and artist lofts.

The Sachs building is conveniently located at the intersection of six roads, with public transportation and retail found throughout the neighborhood.  The area has seen a rapid increase in prices during the past few years as the neighborhood has gentrified, leaving many long-time residents looking further from downtown for affordable housing.

Some area residents voiced concerns at a public meeting that affordable housing would bring crime to the area, but most seemed to support the proposal for a mix of housing in the area.

Many Chicago neighborhoods are looking for options for affordable Chicago Condos For Sale, including senior housing and low-income housing that has disappeared with the recent growth in the market around the city.  This is a move celebrated by many community groups looking to preserve the character of neighborhoods around the city.

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chicago-condos Dave on 23 Dec 2007

Luxury condos at One Museum Park

Chicago’s Central Station development will be one of the most luxurious and sought after neighborhoods in downtown.  This major development will offer several high-quality condominium buildings with incredible views of downtown and Lake Michigan.

One of the biggest towers under construction in the area is One Museum Park.  This 50-story tower will offer a number of floor plans, ranging from one to three bedrooms.  Prices for these luxury condominiums start at $650,000 for a one-bedroom unit and range up to as high as $2.5 million for the largest penthouse units.

Residents will enjoy a number of incredible amenities, including floor-to-ceiling windows that offer great views of the downtown Chicago skyline.  Residents will also enjoy the modern health club, outdoor pool, and rooftop sundeck.  Entertain friends and get to know the neighbors at the Owners Club, which includes a full-sized kitchen.

Residents also enjoy 24-hour doorman service, attentive concierge services, and indoor parking.  The location of One Museum Park is one of the main draws for buyers looking to live in the heart of the city.  The development is steps from everything that downtown Chicago has to offer.

Check out the Luxury Chicago Condos at One Museum Park today.

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chicago-condos Dave on 20 Dec 2007

Chicago condo market update: South Shore

Despite a drop in sales of condos in South Shore, the market remains well above levels seen before 2004.

According to the Chicago Association of Realtors, a total of 60 condos were sold in the Chicago neighborhood during the third quarter.  While this is an 18 percent drop from the same period last year, and more than 35 percent lower than the high seen during 2005, it is still well above the number of sales seen prior to 2004.

Condo owners and developers are facing an average turnover time that, while it may be above the average for all of Chicago, is well below the highs seen two years ago.  It now takes an average of 136 days to find a buyer in the neighborhood, up from an average of 88 days seen last year, but well off the high of 181 days seen during 2005.

Prices for condos in South Shore continued to climb during the third quarter.  The average sales price during the period was two percent higher than last year, and could continue to rise if demand remains steady in the neighborhood.

South Shore offers several excellent condominium developments in a quiet corner of Chicago that, until recently, has gone unnoticed by many Chicagoans looking for an affordable condo.  Find incredible Chicago Condos For Sale in South Shore today.

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