Chicago Condo Directory

Sales of condominiums and lofts in Logan Square were down during the fourth quarter.  According to data from the Chicago Association of Realtors, a total of 113 units were sold during the quarter.

This is a 28 percent drop from the same period in 2006, but is still a relatively strong showing for the neighborhood.

The drop in sales led to a marked increase in the average turnover time for condominiums on the market.  If you’re selling your condo in the neighborhood, it will now take you an average of 110 days to find a buyer, up from 86 days a year ago.  The increase in the number of condos on the market is putting pressure on prices in the area.

Prices were down slightly during the fourth quarter in Logan Square.  The average sales price during the fourth quarter was 2 percent lower than during the same period in 2006.

If demand for condominiums doesn’t pick up in the short term, buyers could see prices drop even further.  However, the neighborhood’s popularity will certainly draw buyers looking for prices for Chicago Condos For Sale that haven’t been seen in a couple of years in the area.

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A new condo development is rising on the former site of two Chicago Housing Authority complexes.  Grove Place will offer a total of 83 condominiums at the corner of Cottage Grove and 37th Street.

The seven-story building will have floor plans ranging from one to three bedrooms.  Buyers who qualify for the Chicago Housing Authority’s affordable housing program can take advantage of the 20 units that are being set aside for local residents.

Floor plans and pricing for the market rate condominiums start at $179,900 for a condo offering a total of 800 square feet of living space.  Two-bedroom condominiums are priced in the low $200s, with floor plans starting at just over 1,000 square feet.

The largest three-bedroom condominiums at Grove Place offer floor plans with 1,400 square feet of living space.  Prices for these units range up to $330,000.

Grove Place is part of the Oakwood Shores Development, one of the largest developments currently underway on the south side.

If you’re looking for Chicago Condos For Sale at an affordable price, this unique development is an excellent option currently on the market.  Browse through some of the best new developments in neighborhoods around the city today.

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The real estate market in many neighborhoods around Chicago is experiencing a decline in sales due to difficulty in the mortgage market.  Washington Park has seen a sharp drop in sales in recent months.

According to data from the Chicago Association of Realtors, a total of just 10 condos and lofts were sold in the neighborhood during the fourth quarter.  This is a huge drop from the same period in 2006, when 41 condos were sold.

Condo owners and developers that did sell their unit in Washington Park saw higher prices during the fourth quarter.  According to the C.A.R. report, the average sales price for units sold during the quarter rose by 8 percent from the same period in 2006.

However, if demand doesn’t pick up in the short term, buyers could start to see lower prices in the neighborhood.  Condo owners who face financial difficulty could end up having to offer a significant discount in their asking price to attract more attention from buyers.

Browse through the best Chicago Condos For Sale around Washington Park as well as in many other neighborhoods across the greater Chicago region.

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