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Lincoln Row

The luxury condominium market in Lincoln Park continues to see new developments coming to the neighborhood.

One of the newest luxury condominium developments is found on Lincoln Avenue, Lincoln Row Condominiums offers several different floor plans.

Buyers can choose from two and three bedroom condominiums in two separate buildings. The building located at 2921 Lincoln Avenue offers three units per floor, while the building at 2927 Lincoln Avenue has one unit per floor.

The penthouse level at 2921 Lincoln Avenue has a three bedroom and two bath condominium with 1,772 square feet of living space for $619,900. A smaller three bedroom unit with 1,642 square feet is priced at $599,900. There is also a two bedroom condominium with 1214 square feet priced at $499,900.

All other floors in the building offer the same layout of floorplans, with prices fluctuating about 10 percent.

Amenities include a deeded parking space included with each unit, sound proofing technology throughout the building, and elevator access.

Each condominium comes with a package of stainless steel appliances, granite countertops, a fireplace, and luxury fixtures throughout the unit.

A washer and dryer comes with each condominium.

All units are wired for high-speed phone lines and cable. There is also wiring for sound for surround sound systems.

The neighborhood is one of the most popular in the city. Lincoln Park is a beautiful area north of downtown. There are several beaches and parks along the Lake Michigan waterfront that offer walking and biking trails.

There are also several El connections to downtown Chicago. Commuters are within minutes of the downtown Chicago business district.

Bars, restaurants, and cultural events can be found throughout the area, many within just blocks of the Lincoln Row Condominiums.

Buyers looking for a condominium in Lincoln Park are facing a rocky real estate market. Condo sales across the city are down by 5 percent, according to the most recent report from the Chicago Association of Realtors.

During the second quarter of 2007, Lincoln Park was one neighborhood that saw an increase in the total sales of Chicago condominiums. A total of 502 condominiums sold during the second quarter, up from 435 during the same period last year. However, this is still below the high of 542 condos sold during the second quarter of 2005.

The inventory of condos on the market has remained steady, despite a 10 percent increase citywide. If you are selling a condominium in Lincoln Park, it will now take you an average of 92 days to find a buyer, up just two days from last year.

Lincoln Park may not be experiencing the same problems that other neighborhoods around the city are seeing.

However, the average sales price for a condo in the neighborhood was down across the neighborhood. During the second quarter, the average sales price was at $429,975. This is $21,000 less than last year.

While the neighborhood has not seen an increase in supply and drop in demand that other parts of Chicago is experiencing, the area could see short term problems due to increasing difficulties for buyers trying to qualify for a mortgage.