Chicago Condo Directory

As demand for condominiums and lofts falls in most neighborhoods around the Chicagoland region, many areas are seeing new lows in sales.  Downers Grove was one area that suffered a sharp drop in sales during the first quarter.

According to data from the Chicago Association of Realtors, a total of just 26 condos and lofts were sold in the area during the first quarter.  This is more than 50 percent less than the total sales seen during the same period last year, and a third of the total sales seen just three years ago.

The drop in demand led to a marked increase in the average turnover time for condos on the market.  If you’re planning on selling your condo in Downers Grove, it will now take you an average of 273 days to find a buyer, up from 110 days a year ago.  Two years ago it took just 74 days to find a buyer in the neighborhood.

Despite plunging sales and a rising inventory of unsold units on the market, prices shot up during the first quarter for condos in Downers Grove.  The average sales price rose by 33 percent, probably due more to buyers focusing on newer condominiums in the area.  However, if demand continues to fall, buyers should see some great deals on Chicago Condos For Sale in the area.

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If you’re on the market for a luxury condominium in Chicago, make sure to check out the South Loop.  This once forgotten corner of downtown now offers some of the best new construction condominiums on the market.  Historic Printer’s Row is home to one new development that is turning some heads.

Printer’s Corner is located at 171 West Polk Street.  This 16-story midrise building offers a total of 88 condominiums, as well as more than 7,000 square feet of retail space.  Buyers can choose from a number of floor plans.  The most affordable unit is a one-bedroom condominium that offers a total of 740 square feet of living space.  This condominium is priced from the low $200s.

The largest units offer two bedrooms, and have a total of 1,900 square feet of living space.  Prices for these condominiums range into the mid $400s.  The developer offers all new buyers a free 42-inch plasma TV included in the purchase price.

Printer’s Corner was developed by Winthrop Properties, a Chicago-based developer with years of experience in the market.  The glass and steel building was designed by Fitzgerald Associates.  Don’t miss out on these luxurious Chicago Condos For Sale in the South Loop.

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Demand for condominiums rose sharply in West Ridge during the past four years.  However, the bonanza in the real estate market in the neighborhood appears to be reaching its end.

According to data from the Chicago Association of Realtors, a total of just 58 condominiums were sold in West Ridge during the first quarter, the first time that sales have fallen below 100 units in four years.  The drop in demand was more than 50 percent from the same period last year, bad news for condo owners and developers in the area.

If you are thinking of selling your condo in West Ridge, you may want to prepare yourself for a long wait.  The average turnover time is nearly up to 200 days in the neighborhood.  It now takes an average of 189 days to find a buyer, up from 143 days a year ago.

Meanwhile, buyers are enjoying some great deals on condos in the area.  The average sales price fell by 12 percent during the first quarter, and could fall even further unless demand for Chicago Condos For Sale increases in West Ridge.

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