Monthly ArchiveMay 2008



chicago-condos Dave on 28 May 2008

Luxury condominiums at Chicago Spire

The Chicago Spire is the most widely anticipated new development to come to downtown Chicago in years.  The building will become the tallest residential tower in the United States when completed, standing a total of 2,000 feet high.

The 150-floor tower will offer a total of about 1,300 condominiums, with prices ranging up to as much as $40 million for the most luxurious top floor penthouse unit.  The developer in charge of the Spire is Shelbourne Development.  World-renowned architect Santiago Calatrava designed the distinctive glass and steel tower that will surely be the masterpiece of the Chicago skyline.

The Chicago Spire is currently under construction on the corner of North Water Street and North Lake Shore Drive.  The estimated completion date is set for 2010.

Residents will enjoy a number of luxury amenities at the Chicago Spire.  The development will offer a full spa, indoor lap pool, basketball courts, and even a rock climbing wall.  The full amenity building will offer plenty of indoor parking, valet and concierge services, and other luxury services expected from a five-star hotel.  Buyers interested in living in the hottest address in Chicago should stop by the sales center today.

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chicago-condos Dave on 28 May 2008

Grand Boulevard real estate update

Grand Boulevard suffered one of the worst results for condo sales during the first quarter in the last five years.  Sales were down nearly 50 percent in the neighborhood.

According to data from the Chicago Association of Realtors, a total of just 35 condominiums were sold during the first quarter in the neighborhood, down from 65 units sold during the same period last year.  It was the second year in a row that sales plunged in the neighborhood, and the lowest total sales seen during the first quarter since 2003.

Prices for condominiums dropped during the first quarter as demand fell to new lows.  The average sales price fell by 10 percent from the same period last year, as buyers focused on the most affordable units in the neighborhood.

The only good news for condo owners and developers during the first quarter was a slight decline in the average turnover time for condos on the market in Grand Boulevard.  If you’re selling your unit on the market in the area, it will now take you an average of 111 days to find a buyer, down from 124 days last year.

Buyers could continue to see lower prices for Chicago Condos For Sale around Grand Boulevard if demand doesn’t increase in the short term.

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chicago-condos Dave on 27 May 2008

Metropolitan Place offers luxury condominiums in the West Loop

Metropolitan Place was one of the first office to condo conversions to come to the West Loop.  The developers, Everest Partners, completed the project in 1999, right at the start of the explosion in new developments around the neighborhood.

Metropolitan Place offers a total of 212 condominiums and retail space on the ground floor.  Residents of this luxury development enjoy a number of amenities.  Each unit comes with a huge terrace featuring excellent views of the Chicago skyline.  The gourmet kitchen comes with black stainless steel appliances, granite countertops, and 42-inch cabinets.

All residents enjoy access to the modern fitness center.  The sundeck is the perfect place for spending time with friends and family as you cook a barbecue in the grill area.  The views from the sundeck are fantastic.  Metropolitan Place also comes with an indoor heated parking garage, with 240 spaces available.

Residents are steps from the best that the West Loop has to offer.  Some of the most popular bars and clubs can be found in the neighborhood, and the West Loop is home to a strong artist community.

Metropolitan Place is one of several luxury condos for sale in the neighborhood.  Browse through West Loop Chicago Condos today.

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