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Parkhomes at Lakeshore East

It wasn't long ago that finding a luxury townhome in the heart of downtown Chicago was next to impossible. However, buyers can now find some of the best townhomes in the city at Parkhomes at Lakeshore East. This development is located near Millennium Park in the newest neighborhood in Chicago, the New East Side.

Parkhomes at Lakeshore East is a project by some of Chicago's biggest names in real estate. The project is led by Magellan Development Group LLC and NNP Residential LLC. These companies are responsible for such projects as Aqua, 340 on the Park, and the Regatta, all buildings that will be part of the Lakeshore East development.

Buyers can choose from a total of 24 luxuriously appointed townhomes at Parkhomes at Lakeshore East. These residences have been designed by the Steinberg Group, a San Jose, CA-based firm. Each home offers a rooftop terrace with views of the park and lake. Residents will love the two-story living room that opens out to great views. Each unit also offers the finest finishings in the kitchen and bathrooms.

Each residence also offers private parking, a modern kitchen with an island layout, granite countertops, the finest wood cabinets, and an appliance package. Residents also enjoy marble countertops and shower surrounds, and a separate shower and soaking tub in the bathrooms.

These townhomes offer three-bedroom and 3.5-bath layouts, and are priced from $1.6 million to more than $2.5 million, depending on the amenities chosen.

The neighborhood has to be seen to be believed. Lakeshore East is one of the largest developments currently underway in Chicago, and is transforming the Near East Side into one of the most vibrant neighborhoods downtown. The development offers a village center that is home to several retail outlets, including Treasure Island Foods. Other features include an outdoor café and several stores offering all of the basic necessities.

The neighborhood is also home to a large private park, and is just steps from the popular Millennium Park and Grant Park. Columbia Yacht Club, located at DuSable Harbor, is located just down the road.

The neighborhood offers excellent public transportation, with buses and trains available within a few blocks. The nearest El train is located at Randolph and Wabash. Commuters can do away with the daily trek to downtown and walk to work. Most of the downtown Chicago business district is located within just a few minutes from home.

The Loop has seen a lot of growth in ultra luxurious condominiums and townhomes on the market. According to data from the Chicago Association of Realtors, a total of 304 Chicago condos and townhomes were sold in the Loop during the first quarter, up nearly 100 percent from the same period in 2007. It was the highest sales total for the quarter in more than 17 years.

Buyers are focusing on the most expensive units in the neighborhood. The average sales price was up by 30 percent during the first quarter, and shows now signs of slowing in the short term. If you're interested in living in the heart of one of the most vibrant cities on earth, now's the time to take advantage of these incredible townhomes.