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1955 Leavitt Lofts

Logan Square offers a diverse neighborhood with affordable housing minutes from the heart of Chicago. The area has seen a lot of new arrivals in recent years, as new condominium projects attract residents from around Chicago.

Bucktown is one of the most popular corners of Logan Square, and is home to several new developments offering lofts and condominiums at excellent prices. One of the newest developments to come on the market in Bucktown is located at 1955 Leavitt.

Buyers can choose from 11 lofts at this luxury four-story development. Floor plans range from 1,100 square feet for the smallest loft to up to 1,250 square feet. Prices start at $280,000 and go up to as much as $420,000.

Residents of these luxury lofts at 1955 Leavitt enjoy a number of excellent amenities. Kitchens come with hardwood floors, a stainless steel appliance package, and a breakfast bar. Bathrooms offer a tub and shower combo and top-of-the-line fixtures. Residents also enjoy hardwood floors throughout the unit and ample outdoor space with a panoramic view.

The historic neighborhood is home to a mix of immigrants from all over the world. The diverse area offers restaurants, shopping, and nightlife, all within steps of home. Damen Avenue, located just two blocks away, is home to many excellent shops. The area also offers several excellent art galleries featuring work by local artists.

Congress Theatre, located on North Milwaukee Avenue, is host to several shows and events throughout the year.

Commuters will love the easy access to downtown Chicago via the Blue Line of the El. The Western/Milwaukee station is located just three blocks from the lofts at 1955 Leavitt. I-90 and I-94 are also just a few blocks away, making it easy for residents to get to most parts of the greater Chicagoland region in minutes.

If you’re in the market for a luxury loft in Logan Square, you should keep up to date with the latest statistics coming out of the real estate market in the area to make the right decision for you and your family.

According to the Chicago Association of Realtors, sales of condos and lofts in Logan Square have dropped over the last two years, but still remain far above total sales seen before 2003. A total of 179 condominiums were sold in the neighborhood during the third quarter, a 10 percent drop from the same period last year.

The drop in sales in the area has led to an increase in the inventory of unsold homes sitting on the market. According to the C.A.R. report, the average turnover time has increased to 111 days, up 22 days from last year. An increasing turnover time means that sellers are waiting longer to find buyers, which is often an indicator of a weak market.

However, despite the increase in the turnover time for condos and lofts in the neighborhood, prices have continued to rise. During the third quarter, prices rose another three percent. The average sales price stood at $334,917.

Buyers could start to see lower prices if demand for condominiums in the area doesn’t recover in the next few months. Buyers should negotiate for a price that reflects the current market conditions in the neighborhood.