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Belle Plaine Commons

The Chicago real estate market has seen increases in condo values in the range of 100 percent over the last 6 years. The average sales price for a condo in the city is at $224,000, according to the Chicago Association of Realtors.

Retirees looking for affordable housing in the city often have difficulty finding a condo at a reasonable price. However, one new development is working to meet the need for affordable housing for retirees in Chicago.

Belle Plaine Commons is a new project that will offer retirees new condominiums starting in the $170s. Buyers must meet income qualifications and be 55 or older.

Belle Plaine Commons is located just northwest of the corner of Irving Park and Western, in the heart of North Center.

Floor plans at Belle Plaine range from 848 square feet for a one bedroom condo to as much as 1,376 square feet for a condominium with two bedrooms plus den.

There are also several different floor plans available that buyers can choose from.

Amenities in the building include a community room where residents can meet their neighbors, a modern fitness center, and furnished library.

Residents can also enjoy two parks with landscaped areas offering a great getaway from the noise of the city.

Each unit has central heat and air, private outdoor space, and extra storage. Units also come with GE appliances, 42 inch cabinets, and stainless steel sinks.

Indoor heated parking can be purchased at an extra cost.

North Center is a popular and convenient neighborhood just minutes from downtown Chicago. The area offers several conveniently located amenities.

Restaurants near Belle Plaine Commons include Chicago Joe’s and the Thai Room Restaurant, both on Irving Park, and Lincoln Restaurant and Smokin Woody’s BBQ on Lincoln.

There are several parks in the neighborhood. Horner Park, Paul Revere Park, and Welles Park are all within a few blocks of Belle Plaine Commons.

Wrigley Field is a great place to enjoy a summer afternoon and catch a Chicago Cubs game. The stadium is just a few minutes east of Belle Plaine Commons.

With real estate prices across the cities at levels that many people cannot afford, Belle Plaine Commons is a welcome addition to the real estate market in North Center.

North Center is one of the few neighborhoods in the city that has seen an increase in demand after two years of declining prices.

According to the Chicago Association of Realtors, the number of condominiums sold in the second quarter of this year increased to 186, up from 111 last year. This is the highest total sales that the neighborhood has ever seen.

However, supply is also increasing in the neighborhood. Despite the increase in condo sales, the average turnover rate for the neighborhood increased 17 percent during the second quarter.

If demand continues to increase for condominiums in North Center, then the neighborhood may not see a large drop in prices. However, as more new developments come on the market in the area, condo owners may have to offer deals to attract more buyers as the inventory of condos on the market increases.

The average sales price in the neighborhood is now at $379,438. The Belle Plaine Commons, with prices starting in the $170s, is an affordable choice for North Center.