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36-38 N Menard

If you're on the market for an affordable condominium in Chicago, you can find some great deals in neighborhoods further from downtown. One area that offers a number of affordable units is Austin. This quiet neighborhood west of downtown has seen an increase in sales in recent years.

One development that offers a total of 58 condominiums in Austin is located at 36-38 N Menard. This historic building has just recently been completely renovated, and now offers luxury condominiums with all of the latest amenities.

There are no units currently available, but buyers can find condominiums for sale from time to time at 36-38 N Menard. Every condominium here offers a total of two bedrooms, and buyers can choose from a couple of different floor plans with one or two bathrooms. Two-bedroom and one-bath units have sold in recent months for between $166,900 and $189,900. The larger two-bedroom and two-bath condominiums are generally priced in the low to mid $200s.

Residents of 36-38 N Menard enjoy a number of luxury amenities. The gourmet kitchen comes with granite countertops, stainless steel appliances, and custom cabinets. Residents also enjoy a master bath with marble finishes and a Jacuzzi style tub. Other amenities include hardwood floors throughout the main living areas, as well as in every bedroom, a granite fireplace, and large windows that let in plenty of light throughout the day. These condominiums come with one assigned parking space.

The neighborhood is a quiet cul-de-sac with a suburban feel. However, residents are still just minutes from the Loop. Restaurants can be found mainly along Madison Street, just a half block from home. There are even a couple of spots to go out for a drink and catch the game right on Madison Street.

Residents also enjoy easy access to Columbus Park, a large park with a golf course and plenty of open green space.

Public transportation in the neighborhood is available along South Boulevard, just four blocks north. The Green line of the El stops at both Austin and Central. The Blue line also stops nearby along the Eisenhower Expressway. If you're driving, the Loop is just 15 minutes from home.

Austin has seen a lot of activity in recent years on the condo market. However, the neighborhood has also suffered a drop in demand as sales decline around Chicago. According to the Chicago Association of Realtors, a total of 84 condominiums were sold in the neighborhood in 2007, down from 94 units sold in 2006. This is the second highest total sales seen in the neighborhood.

However, sales will need to increase to keep the average turnover time down for condos on the market in Austin. If you're selling your condo in the area, it will now take you an average of 182 days to find a buyer, up from 102 days a year ago.

Prices have been moving up quickly in the neighborhood, but could start to drop if the inventory of unsold units remains on the market longer. The average sales price was up by 14 percent in Austin in 2007.