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Roosevelt Square

Roosevelt Square is a new development located on the Near West Side of Chicago. The development offers townhomes, condominiums, and apartments just steps from downtown Chicago.

The developers, Related Midwest and Quest Development Group, LLC, have long experience in the Chicago real estate market.

Related Midwest was responsible for the luxury condominiums at 340 on the Park and The Residences on Lake Shore Park.

Quest Development Group’s past projects include Cameron Court, Park Village and Langston Cove.

Buyers looking for a townhome can choose from several different floor plans. Two-bedroom townhomes start at $439,000 while three-bedroom townhomes are priced starting at $559,000.

There are also several two- and three-bedroom condominiums available at Roosevelt Square. The two-bedroom units start at $310,000 and three-bedroom condominiums are priced at $406,000.

There are also several condos set aside for the Affordable For-Sale Housing Program. Buyers interested in below market rate condominiums should contact the developers for more information.

Other condominiums are also available in six- and twelve-flat buildings at Roosevelt Square.

Buyers can customize their home according to their own style. The developers offer a wide choice of carpeting, hardwood floors, countertops, and cabinets.

Each condominium and townhome also offers private outdoor space for residents to enjoy a warm summer evening.

Roosevelt Square is in the heart of one of the most vibrant neighborhoods in Chicago. The Near West Side offers excellent cuisine, cultural events, and shopping for every taste.

The neighborhood is located just west of the downtown Chicago business district, making the area a convenient choice for professionals and families who want to take out the daily commute from their schedule.

The Near West Side also offers the best in live music. Enjoy authentic Chicago blues at Buddy Guy’s Legends or relax to the best jazz at The Jazz Showcase.

Residents can taste authentic Greek cuisine in Greektown or go out for a night of Chinese food in Chinatown.

Buyers looking at condominiums on the Near West Side should be aware of the current conditions for the real estate market in the area.

The Near West Side has seen a drastic drop in sales during the last few months. According to the Chicago Association of Realtors, the number of condos sold on the Near West Side dropped to 383 during the third quarter, a 31 percent decline over the same period last year.

Developers and condo owners selling their property on the Near West Side now face turnover times 50 percent longer than the citywide average. It now takes 149 days to find a buyer in the neighborhood.

It is also one of the longest average turnover times for a major condo market in the Chicago region.

Despite the dismal numbers coming out of the market, the neighborhood posted an 11 percent increase in the average sales price during the third quarter.

If you are looking for a condo on the Near West Side, you should negotiate for a price that reflects current market conditions. If demand does not increase, prices should begin to fall in the short term for condos west of downtown Chicago.