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600 North Fairbanks

600 North Fairbanks is one of the newest condo developments to come to downtown Chicago. The innovative architectural design comes from the internationally renowned firm Murphy/Jahn, winner of the 2005 AIA Architecture Firm Award.

Schatz Development is the company behind the luxury condominiums at 600 North Fairbanks.

The 41-story tower has been topped out, and the final work is being completed on the luxury interiors.

600 North Fairbanks offers a choice of one-, two-, and three-bedroom units. All units come with private balconies, ten foot ceilings, washer and dryer hook-ups, and hardwood floors throughout the unit.

Amenities in the building include a two story lobby with 24-hour doorman service, heated garage parking, high speed elevators, and extra storage space.

Residents can enjoy the lap pool on the 41st floor, offering incredible roof top views of the downtown Chicago skyline.

There is also a media room for residents to enjoy a movie in style. A party room is also available for residents to entertain friends.

The development includes a green roof, one of the newest technologies in urban development that reduces emissions and helps the environment.

A modern, private health club is available for residents who want to enjoy an active lifestyle from the comfort of home.

600 North Fairbanks is located in the heart of Streeterville, close to the Magnificent Mile and some of Chicago’s best restaurants, nightlife, and cultural events.

Michigan Avenue is just two blocks away, offering some of the best shopping in the world. World-famous designers, boutique shops, and famous brand names all call Michigan Avenue home.

Ontario Avenue and Fairbanks is the center of dining in the neighborhood, offering many world-class restaurants with well-known chefs and international cuisine.

Lake Michigan is just a few blocks away, offering beaches, walking trails, and bike paths with incredible views of downtown Chicago.

El train connections offer commuters quick access to downtown Chicago and neighborhoods throughout the city.

Buyers looking to buy real estate in Chicago should keep in mind the most recent data from the Chicago Association of Realtors.

The real estate market on the Near North Side is seeing some problems as demand drops and the supply of condos increases in the neighborhood.

According to the Chicago Association of Realtors, during the second quarter of 2007, sales of condos on the Near North Side dropped 10 percent.

The drop in demand can be explained partly by difficulties in the credit market. Many buyers are unable to qualify for a loan due to tightening requirements from banks and lenders.

The supply of condos on the Near North Side is also increasing. According to the most recent data, if you own a condominium on the Near North Side, it will now take you an average of 124 days to find a buyer.

This represents an increase of 23 percent from the same period last year and is 24 percent higher than the average for all of Chicago.

The average sales price for a condo on the Near North Side increased by just over 1 percent during the second quarter.

This increase is far less than those seen during previous years. Prices in the neighborhood could start to come down if demand continues to drop and the supply of condos stays on the market longer.

Buyers should negotiate a price that reflects current market conditions in the neighborhood.