Buyers on the market for a new or resale condominium in downtown Chicago can find some great deals on units at Newberry Plaza. This high-rise building is located at 1030 N State, and is home to a total of 672 floor plans.

Buyers can choose from a number of studio, one, and two-bedroom condominiums currently on the market. The most affordable unit is a studio that is currently listed at $180,000. Studio condominiums are priced up to $280,000. Young professionals will love the one-bedroom units available at Newberry Plaza. The most affordable unit offers a total of 800 square feet of living space, and is priced at $285,000. Other one-bedroom units offer up to 1,000 square feet of living space, and are priced up to the $350s.

If you need some more space, you’ll love the two-bedroom and two-bath units at Newberry Plaza. Prices for these units range from $449,500 to as much as $939,000 for the largest penthouse unit with incredible views to Lake Michigan and the downtown Chicago skyline.

Newberry Plaza comes with a full range of amenities that include attached parking in the underground garage, a modern fitness center, swimming pool, party room, 24-hour doorman, and modern kitchens and baths. Don’t miss out on these great units on the Chicago Real Estate market.

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Sales of new and resale condominiums fell sharply during the third quarter in many neighborhoods around Chicago. One area that was one of the hardest hit during the quarter was Irving Park. Sales fell to a 6-year low in the neighborhood.

According to data from the Chicago Association of Realtors, a total of 48 condos and lofts were sold in Irving Park during the third quarter, down from 113 units sold during the same period a year ago. The drop in demand for condos in Irving Park helped bring prices in the area down during the third quarter.

The average sales price fell by 2 percent from the same period a year ago during the third quarter. Prices for condos in Irving Park could continue to fall in coming months if demand doesn’t pick up in the short term. The market is seeing an increase in the number of unsold condos.

If you’re planning on selling your condo in Irving Park, it will now take you an average of 190 days to find a buyer. The average for the entire Chicago Real Estate market is 123 days, putting the neighborhood among the slowest markets in the city.

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Buyers on the market for a luxury condo in Streeterville can choose from a number of available units at the Grand Ohio. This 29-story building was developed by Draper and Kramer. Located at 211 E Ohio, the Grand Ohio offers a total of 586 units, with floor plans ranging from studio to three-bedroom units.

20 units are currently on the market. The most affordable is a studio unit that offers a total of 594 square feet of living space. This unit is priced at $179,900, and has assessments of $350 per month. An affordable one-bedroom and one-bath unit is located on the 6th floor. This condo offers a total of 600 square feet of living space, and is currently listed at $214,900.

If you’re looking for more space, you’ll love the two-bedroom and two-bath condo on the 26th floor. This condo offers 1,000 square feet of living space, and is listed at $319,000. The largest unit on the market is a three-bedroom and 2.5-bath condo. This unit offers a generous floor plan with 1,700 square feet of living space, and is listed at $499,000.

These condos offer a long list of amenities as well as incredible views, and are among the best deals for Chicago Real Estate currently on the market in Streeterville.

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Sales of new and resale condominiums and lofts fell to a 12-year low in Hyde Park during the third quarter. The neighborhood was one of many around Chicago to see a continued drop in demand during the quarter.

According to data from the Chicago Association of Realtors, a total of just 69 condominiums and lofts were sold in the neighborhood during the third quarter, down from 106 units sold during the same period a year ago. It was the third straight year of declining sales in Hyde Park.

The drop in sales led to a marked increase in the average turnover time as well as a slight drop in prices around the neighborhood. The average sales price was down by 8 percent from the same period last year, and could continue to drop as the number of unsold condos on the market continues to grow in Hyde Park.

If you’re thinking of selling your condo in the area, it will now take you an average of 169 days to find a buyer, up from 99 days just a year ago. This is one of the longest turnover times seen in recent memory in the neighborhood. However, buyers could continue to see some great deals on some of the best Chicago Real Estate in Hyde Park in the next few months.

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Foreclosures continued to plague real estate markets around the country during September. According to RealtyTrac, an online real estate firm, a total of 81,312 homes were foreclosed during the month.

Foreclosure filings were up as well, showing a 21 percent increase from the same period last year, but was slightly lower than the number of foreclosure filings seen in August. August foreclosure filings were at an all time high. However, foreclosure filings were off by 12 percent during September with a total of 265,968 filings sent out to delinquent borrowers during the month.

Lawmakers have been working around the country to provide some relief to distressed homeowners facing foreclosures in recent months. The increase in foreclosures has led to blight in the most affected neighborhoods as well as a decline in prices for properties located nearby. Homeowners are competing with foreclosed homes priced well below the current market value, leaving many people with a loan valued higher than the home.

However, buyers are currently enjoying some great deals on homes, including single-family homes and condos around the Chicago Real Estate market. If you’re on the market for a condo or home in Chicago, browse through the best available units today.

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Sales of new and resale condominiums fell for the third straight year in Edgewater during the third quarter. The neighborhood was one of many around the city to see a further drop in demand during the quarter.

According to data from the Chicago Association of Realtors, a total of just 191 condos were sold in the neighborhood during the third quarter, down from 247 condos sold during the same period a year ago. The high point for the neighborhood was seen in 2005, with 360 condos sold during the third quarter.

The drop in sales led to an increase in the number of unsold condos sitting on the market around Edgewater. If you’re planning on selling your condo, it will now take you an average of 143 days to find a buyer, down from 118 days a year ago. This is the longest average turnover time seen in more than 18 years in the neighborhood.

The rising inventory of unsold condos on the market has led to an end in the constantly climbing average sales price in the area. Prices were steady in Edgewater during the third quarter, rising just $1,000 to $255,574. However, buyers could start to see a drop in prices for Chicago Real Estate in the neighborhood if demand doesn’t increase in the short term.

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The increase in foreclosures nationwide is making its mark in the Chicago courts system. The number of judges assigned to foreclosure hearings has already been raised to 14 from 10, and the backlog of cases continues to grow.

According to court records, the number of foreclosures in Cook County increased by nearly 50 percent during the first half of the year. If current conditions continue, the city can expect to see more than 40,000 foreclosures in 2008.

The increase in foreclosures is not only affecting homeowners and lenders of distressed properties, but the entire Chicago real estate market. Foreclosed homes are bringing down values of all condos and homes in neighborhoods that have been hit hard by the economic downturn. Homeowners who are trying to sell their home are competing with distressed properties that are often sold well below their original value.

Buyers looking for great deals on Chicago Real Estate are starting to find plenty of opportunities. However, a tight credit market and increasing requirements from banks and lenders have kept many buyers out of the market, further affecting the real estate market in the city.

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The Loop seemed to be in a position to buck the trend of falling sales seen around many neighborhoods in Chicago. Strong sales, however, have given way to one of the largest drops in demand seen in the Chicagoland region during the third quarter.

According to data from the MLS, a total of just 177 condos were sold around the Loop during the third quarter, down from 461 units sold during the same period a year ago. This is a 61.6 percent drop in demand in just one year in the neighborhood. However, not all condo owners and developers are seeing a slow market in the Loop.

Demand for condos priced at more than $1 million continued to rise during the third quarter. While just 3 units were sold for more than $1 million during the third quarter of 2006, that number has risen steadily. 16 condos were sold for more than $1 million last year, while 23 units were sold in that price range during the third quarter 2008.

This helped keep the average sales price in positive territory during the third quarter. The average sales price for condos sold in the Loop during the period was up 14 percent from the same period last year, reaching $542,390. Buyers, however, could start to see great deals on the most affordable Chicago Real Estate on the market in the Loop.

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The dismal real estate market hasn’t put the brakes on one ambitious new condominium development planned for River North. LG Development Group announced plans for a 28-story high rise to be built at 111 W Chestnut Street. LG is currently building several other luxury condominiums around the Chicago region, including projects at 2654 N Mildred and 2100 N Dayton.

The development still needs to get the go ahead from the Chicago Plan Commission. A meeting is planned for today. The development, known as Row2750 will offer just 49 units. The condominiums will have generous floor plans with an average of more than 2,500 square feet of living space in each unit. Residents will enjoy onsite parking and a number of other luxury amenities.

The glass and steel tower will feature open floor plans with floor-to-ceiling windows and large balconies that open out to great city views. Residents will enjoy a 24-hour concierge service, a modern fitness center, and a green roof with great views to the city. The development is still in the early stages, and we’ll have more information for you as it becomes available. In the meantime, browse through the best Chicago Real Estate on the market today.

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Sales of condominiums and lofts were up sharply during the second quarter on the Near South Side. The neighborhood was one of just a few to see stronger sales during the quarter.

According to data from the Chicago Association of Realtors, a total of 457 condos and lofts were sold on the Near South Side during the second quarter, the best result for the quarter in more than 18 years. Last year, a total of just 211 condos and lofts were sold during the same quarter.

Buyers were more than happy to pay the high prices seen on the Near South Side during the second quarter. The average sales price soared to $534,866, well above any level seen in the past few years. Last year the average sales price stood at just $379,484.

The increase in sales also helped take some pressure off the entire market. Condo owners and developers saw a decrease in the average turnover time for the first time since the beginning of the decade. If you’re looking to sell your condominium in the area, it will now take you an average of 144 days to find a buyer, more than 50 days quicker than last year.

The market for Chicago Condos on the Near South Side may be one of the first to show signs of a comeback for the entire city.

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