1432 North Orleans
The Near North Side continues to offer some of the best real estate on the market. Many parts of the neighborhood are home to luxurious developments geared towards professionals and families.
One excellent development on the Near North Side is located at 1432 North Orleans. This small three-story building offers just three units, making it a great place for buyers looking to enjoy an urban lifestyle without living in an impersonal condominium tower.
Each unit at 1432 North Orleans offers three bedrooms, an extra-wide floor plan, and plenty of outdoor space. The penthouse suite also offers a rooftop deck that gets lots of sun throughout the day and offers incredible views of the downtown Chicago skyline.
Residents enjoy a gourmet kitchen with stainless steel appliances, granite countertops, and a breakfast bar. The luxurious master bath comes with a Jacuzzi tub, marble vanity tops, double sinks, and a separate shower. The master bedroom has carpeted floors and a walk-in closet with lots of extra storage space.
One of the main draws to this unique development on the Near North Side is the prime location. Residents are just steps from many of the best restaurants, nightlife, and shopping in the city.
Commuters will love the easy connections to downtown Chicago via the Sedgwick stop of the El, located just three blocks away. There are also several CTA buses running along LaSalle Street.
There are also several parks within a few blocks of home. Lincoln Park along the Lake Michigan shoreline offers excellent bike and walking paths, plenty of green space, and incredible views of the city. Seward Park is another popular choice for local residents, and is located just four blocks from the development.
For the best shopping in Chicago, head down to the Magnificent Mile, home to world-famous designers, major brand names, and individually owned stores.
Northwestern University is also just a few blocks from these luxury condos at 1432 North Orleans.
If youâ€™re in the market for a new condominium on the Near North Side, keep up with the latest news coming out of the real estate market to make the best decision for you and your family.
According to recent data from the Chicago Association of Realtors, demand for condos in the neighborhood continues to drop after several years of large increases in sales. A total of 846 units were sold during the third quarter, down 5 percent from the same period last year. It is also the fourth consecutive year of declining demand in the neighborhood.
The drop in demand has led to an increase in the turnover time for condos on the market, which could eventually mean lower prices in the neighborhood. It now takes condo owners and developers an average of 119 days to find a buyer on the Near North Side, up 22 percent from last year.
Despite the drop in demand and rising inventory of unsold condos on the market, prices continued to rise on the Near North Side. The average sales price during the third quarter posted a 5 percent gain from the same period last year.
However, prices could remain strong due to the popularity of the neighborhood and the incredible location just blocks from everything downtown Chicago has to offer.