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Archive for March, 2008

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Terrazio Condominiums

Monday, March 31st, 2008

The South Loop continues to offer some of the best new developments in the city. One of the newest preconstruction projects in the neighborhood is Terrazio, located at 1935 South Wabash. This development is led by Sedgwick Properties Development Corporation, a Chicago-based developer responsible for Park View East and the Marquee.

Buyers can choose from one, two, and three-bedroom condominiums. A two-bedroom and two-bath unit currently on the market is listed for $360,000.

Residents of Terrazio will enjoy a long list of luxury amenities, including stainless steel appliances, hardwood floors, and a prewired touch screen system for the home. Each unit also comes with a private balcony. Residents will enjoy the rooftop pool, lounge, fitness center, and business center.

The South Loop offers everything you need to enjoy an urban lifestyle in the heart of Chicago. The downtown business district is within walking distance, allowing commuters to do away with the daily commute to work. The area is home to many new restaurants, bars, and clubs that are packed throughout the week.

Terrazio is one of many new predevelopment condominiums currently available on the Chicago Real Estate market. Construction will wrap up on the project in 2009.

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Sales continue to rise in Bourbonnais

Sunday, March 30th, 2008

While many neighborhoods around the greater Chicagoland region have seen a sharp drop in sales of condos and lofts, there are still some areas in the city that are experiencing a jump in demand.

One Chicago suburb that has seen a recent increase in demand is Bourbonnais. This traditionally small market saw sales cross into double digits in 2006, when 15 condos and lofts were sold. According to data from the Chicago Association of Realtors, a total of 18 units were sold in 2007, an increase of 20 percent.

However, despite the increase in sales in the neighborhood, there are still an increasing number of condos and lofts available for sale around Bourbonnais. If you are selling your condo in the area, it will now take you an average of 105 days to find a buyer, up from 79 days a year ago. This is the second longest average turnover time seen in the area in more than 16 years.

The increase in demand has also helped prices remain in positive territory. The average sales price for condos and lofts sold in 2007 was 17 percent higher than prices seen in 2006. However, if the supply of condos on the market continues to increase, buyers could start to see prices level off for Chicago Real Estate in Bourbonnais.

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Lincoln Park 2520

Friday, March 28th, 2008

Luxury homes and condominiums in Lincoln Park are among the most sought after real estate in Chicago. This neighborhood offers an excellent location close to downtown Chicago and a number of amenities that give residents a mix of a suburban and urban lifestyle.

One of the newest condominium developments to come to the area is Lincoln Park 2520. This project by RMI Development and General Electric Pension Trust is currently underway at 2520 North Lakeview Avenue. The 39-story building will be completed in 2009, and will offer a total of 314 condominiums and 13 townhomes.

Buyers can choose from a number of floor plans at Lincoln Park 2520. One-bedroom units offer from 900 square feet of living space, while the largest penthouse units offer as much as an incredible 9,000 square feet of living space, making these units some of the largest available on the Chicago Real Estate market.

Prices for these units range from $550,000 for a one-bedroom unit to over $10 million for the largest penthouse unit.

Residents enjoy all of the best amenities expected from a luxury condominium tower, including an indoor swimming pool, private park, 24-hour doorman and concierge service, and a modern health club.

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