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University Condos

The neighborhood around the University of Chicago is fast becoming one of the most popular neighborhoods in the city. Many new developments offer luxury condominiums and lofts in this convenient and historic corner of Chicago.

University Condos is one of the newest developments to come to the neighborhood.

The development is located at 6105 South University Avenue, just across the street from the University of Chicago. Buyers can choose from 24 different condominiums with floor plans that offer both simplex and duplex layouts.

A two bedroom condominium with a simplex layout is selling for $270,000. Buyers can also choose from three and four bedroom duplexes that are priced starting at $370,000.

All units enjoy private outdoor space. The largest duplexes come with private rooftop decks. Residents can choose from outdoor and indoor parking.

Other amenities include stainless steel appliances, hardwood floors, and a fireplace.

University Condos is at the northern border of Woodlawn. The neighborhood is one of the most historic and important parts of Chicago for African-American residents of the city.

The neighborhood is close to several city parks that offer an excellent option for residents to escape from the summer heat or enjoy a crisp winter walk along Lake Michigan.

Jackson Park is one of the largest lakefront parks in the city. Residents can go for a sail on Lake Michigan from the yacht harbor, play a round of golf at the park’s golf course, or simply enjoy a picnic in the many open spaces.

Washington Park is surrounded by historic neighborhoods and has been a long-time attraction for residents of South Chicago.

Commuters enjoy easy access to downtown Chicago via buses and trains that pass through Woodlawn. The downtown Chicago business district is only a short trip from the neighborhood.

There are lots of options for going out and enjoying a night on the town around the University of Chicago. Several cafes, restaurants, and bars cater to students and faculty in the area.

Woodlawn is an up and coming neighborhood that is experiencing rapid growth. Sales of condos in the neighborhood continue to increase every year. Prices for condos in the neighborhood are also increasing.

According to the most recent report from the Chicago Association of Realtors, Woodlawn saw a total of 69 condominiums sold during the second quarter of this year. This represents an increase of 30 percent over the same period last year.

The average sales price continues to go up around the neighborhood. Condo prices have doubled in Woodlawn since 2000. A condo in the neighborhood now sells for an average of $212,252.

Owners and developers who are selling a property in Woodlawn saw a slight increase in the turnover time for the area.

If you are selling your condo in Woodlawn, it will now take you an average of 148 days to find a buyer. This is over 40 percent higher than last year, but is still off the highs seen during 2004 and 2005.

An increase in turnover time could signal a decline in the market in the area. The mortgage crisis that has locked many buyers out of the market could affect Woodlawn condo sales in the short term.

Buyers should be aware of the most recent numbers coming out of the real estate market in Woodlawn. If the supply of condos continues to increase in the neighborhood, then prices may start to drop in the short term.