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Racine Flats

Wrigleyville has become one of the hottest neighborhoods in Chicago. During the last few years, several new luxury loft and condo developments have brought new residents to the area.

A mix of young professionals and families is breathing new life into the historic neighborhood.

One of the newest luxury developments in the neighborhood is located at 3414-3424 North Racine. Racine Flats is the result of the team of developers and architects Peak Development LLC, Summit Design & Build LLC, and Space Architects.

The developers have restored an historic building into 13 luxury units ranging from 900 square feet to 1,600 square feet.

Buyers can choose from several floor plans, ranging from two- to three-bedrooms in simplex and duplex layouts.

Amenities include stainless steel appliances and granite countertops in the kitchens. Some chef kitchens also include an island.

Bathrooms come with a separate bath and shower. Residents also enjoy individually controlled air conditioning and heating.

Some units also come with a large private terrace. All residents can enjoy the common yard on the quiet residential street.

Wrigleyville is one of the hottest neighborhoods in Chicago for young professionals and families who want to live close to downtown without paying the prices found in other neighborhoods such as the Near North Side.

The neighborhood is home to the famed Chicago Cubs. Game day in Wrigleyville is one of the liveliest days in the neighborhood. People come from all over Illinois and fill the bars and restaurants in the neighborhood.

There are also several great new restaurants and nightlife that cater to locals. Clark Street is the epicenter of nightlife in the area. The neighborhood shows its Irish roots with a number of Irish pubs in the area.

Wrigleyville is within easy reach of the downtown Chicago business district. The Purple, Brown and Red lines of the El pass through Wrigleyville and Lakeview. Commuters can reach neighborhoods around the city within minutes.

There are also several great parks in the neighborhood. The Lake Michigan waterfront is one of the main draws for residents during the summer. There are several walking trails, bike paths, and beaches within minutes of Wrigleyville.

Buyers who want to purchase a new home or loft in the neighborhood should stay on top of the latest numbers coming out of the real estate market.

According to the latest statistics from the Chicago Association of Realtors, sales of condos around Lakeview were down during the second quarter.

A total of 806 condominiums and lofts sold in Lakeview during the second quarter of this year, a 10 percent drop from the same period last year.

Condo owners are also facing longer waits when it comes time to sell their home. If you are selling your condo in Lakeview, it will now take you an average of 102 days to find a buyer. This is up over 13 percent from the same period last year.

While demand is dropping and the supply of condos stays on the market longer in Lakeview, prices continue to increase. If demand continues to drop in the neighborhood, then sellers may be forced to offer lower prices to attract new buyers.