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Park View East 828 W. Grace

Buyers looking for a luxury condominium in Lakeview now have another option at 828 West Grace Street.

Park View East is the latest creation of Sedgwick Development Corporation. The Chicago-based developer is responsible for several new developments around the city. Past projects include Old Towne Place, a new luxury condominium project in the heart of Old Town.

Park View East offers several different floor plans in the 17-story building. Residents can choose from one-bedroom units with one or two bathrooms. Two-bedroom condominiums also offer both one- and two-bathroom layouts.

One unit that is currently for sale is a two-bedroom and two-bathroom condominium listed at $419,900.

The building offers residents amenities such as two high-speed elevators and 24-hour doorman service. All units are pre-wired for high speed internet and cable. A parking space in the heated garage can be purchased for $29,900.

Amenities in the condominiums at Park View East include several units with large terraces offering open views of the downtown Chicago skyline.

Amenities also include the standard array of stainless steel appliances, 42-inch cabinets, and granite countertops in the kitchen. The main areas of the condominium come with hardwood floors.

Park View East is located in one of the hottest neighborhoods in the city. Lakeview is a popular neighborhood north of downtown Chicago. The area offers excellent restaurants, shopping, and outdoor activities just minutes from the heart of the city.

The Lake Michigan shoreline is just two blocks to the east of Park View East. There are many walking trails and bike paths that allow residents to escape from the city and enjoy incredible views of downtown and the lake.

Commuters will love the easy access to downtown via the El train.

The neighborhood has several excellent restaurants, all within just a few blocks of Lake View East. Fornello Trattoria, Tuscany, Ann Sather, and Rick’s Café are a few neighborhood favorites.

For a night out on the town, residents can check out several popular bars in the area. Bar Louie, John Barleycorn, and Murphy’s Bleachers are all popular local hangouts.

Cultural events and theatre can be found at several independent venues around Lakeview. Mercury Theatre, Stage Left Theatre and Bailiwick Theatre are just a few of the choices in the neighborhood.

If you are thinking about buying a condominium in Lakeview, keep in mind the latest numbers coming out of the real estate market in the neighborhood.

Condo sales continue to slide in the area. According to the latest report from the Chicago Association of Realtors, the number of condos sold in the neighborhood is at a five-year low.

A total of 700 condos were sold during the third quarter of 2007, down from 741 during the same period last year. This is the second consecutive drop in sales for Lake View.

The number of condos for sale in the neighborhood declined during the third quarter. While sales dropped over 5 percent, the average turnover time remained steady at 94 days, just 2 days below the average for all of Chicago.

The average sales price for condos in Lakeview continued to rise, despite the drop in demand in the neighborhood. The average price for a condo in the neighborhood stands at $367,738.