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The Homes of RiversEdge

Development along the Chicago River continues as developers bring several new luxury condominiums, lofts, and row homes to the market.

One of the newest developments to come on the market along the Chicago River is The Homes at RiversEdge, offering single family homes and condominiums close to the heart of downtown Chicago.

Walsh Development is the company behind The Homes at RiversEdge. The Chicago-based company was formed in 1995 by Michael and Peter Walsh.

The company has worked on previous developments at 1242 W Altgeld, 1930 N Fremont, and 2715 N Southport, among others.

Buyers can choose from several different floor plans at The Homes at RiversEdge. One- to three-bedroom condominiums and single-family homes are available.

A two-bedroom condominium with 1559 square feet of living space is currently listed on the market at $384,000.

A smaller two-bedroom condominium with 1412 square feet of living space can be had for $374,000.

A three-bedroom unit is available for $559,000. The condominium has 1862 square feet of total space. The largest condominium available is a 1991 square foot three-bedroom unit.

Single family homes are priced starting in the high $600s.

Amenities at The Homes at RiversEdge include stainless steel appliances and granite countertops in the kitchen.

The condominiums and homes also include hardwood flooring in the main living areas and a fireplace.

Residents in many of the condominiums enjoy excellent views of the downtown Chicago skyline.

The neighborhood is one of the main draws for buyers of The Homes at RiversEdge. The area is home to several restaurants, shopping, and convenient transportation to other parts of Chicago.

Commuters will enjoy easy access to downtown Chicago via El and METRA trains, as well as several CTA buses.

Restaurants in the neighborhood include The Art of Pizza, Flat Top Grill, and Bella Vista.

Residents can enjoy the walking path along the Chicago River and several parks within just a few blocks of home.

If you are looking for a new condominium in North Center, you should be aware of the most recent statistics for the real estate market in the neighborhood.

North Center is experiencing steady sales despite a decline in demand for condominiums in neighborhoods around Chicago.

According to the Chicago Association of Realtors, a total of 165 condominiums were sold in North Center during the third quarter of 2007, the highest total in the last 15 years.

Demand could drop in the short term due to problems in the mortgage market. Many banks and lenders are putting tough requirements on new loans due to a marked increase in foreclosures around Chicago.

Many buyers may have a difficult time qualifying for a mortgage.

However, there are more condos on the market in North Center. Despite higher sales, the average turnover time for condominiums in the neighborhood increased by almost 20 percent during the third quarter.

If you are selling your condo in North Center, it will now take you an average of 103 days to find a buyer.

If demand starts to decline for condos in the neighborhood, and turnover rates continue to increase, then buyers may start to see lower prices.