Chicago Condo News

River North continues to be one of the major markets for Chicago condos.  Sales in the area are among the highest in the city.

The most recent numbers from the Chicago Association of Realtors show that sales of condos on the Near North Side of Chicago remain strong when compared to other neighborhoods around the city.

A total of 867 condos were sold around the neighborhood during the second quarter of 2007, down just under 5 percent from the second quarter of 2006.

The average sales price for condos on the Near North Side also increased.  During the second quarter of 2007, the average sales price was $513,203.  This represents a slight increase from the average price of $507,865 during the second quarter of 2006.

However, if you own a condo on the Near North Side and are planning to sell it in the coming months, it could take you longer than expected.  The average turnover rate during the second quarter of 2007 increased to 124 days, a 24 percent increase over the second quarter of 2006.

The neighborhood is home to several condo developments, such as 757 Orleans, a 22-story tower offering new and modern units.  Buyers can find many of the best luxury Chicago Condos in River North.

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Lakeview is still one of the hottest neighborhoods in Chicago for young professionals and families. The neighborhood offers excellent amenities without charging the high prices of Lincoln Park or the Gold Coast.

There are many new condominium developments and condo conversions in the neighborhood that offer luxury units. One of the newest condo conversions in East Lakeview is 2930 Sheridan Tower.

This high-rise property offers one and two bedroom units with the latest in luxury amenities. Each unit includes a gourmet kitchen with stainless steel appliances, excellent fixtures throughout the apartment, and open views of the Chicago skyline and surrounding areas.

Residents can also enjoy the modern fitness center and indoor valet parking.

Lakeview is home to several parks, including trails and paths along Lake Michigan. The neighborhood is also home to the Chicago Cubs. As more new residents come to the area, many businesses follow. There are many new restaurants, shops, and bars in the neighborhood that make for a great night out on the town.

Lakeview condo developments are among the most sought after Chicago Condos on the market. The neighborhood has seen steady growth. The median price for condos in Lakeview during the second quarter of 2007 was up 9 percent over 2006 prices.

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