Chicago Condo News

The New East Side is one of the newest neighborhoods in Chicago. The area is located just south of the Chicago River along the Lake Michigan shoreline. One development that offers plenty of luxury condos for sale in the area is Parkshore Condos.

This luxury development offers one, two, and three-bedroom condominiums. One-bedroom units are priced from the mid $200s. Two-bedroom units can be had for $390,000, with the largest units selling for up to $500,000. Three-bedroom units are priced into the mid $800s.

Residents enjoy plenty of luxury amenities at Parkshore Condos. The rooftop deck features a swimming pool, garden and incredible views of Lake Michigan and the downtown Chicago skyline. Residents also enjoy a 24-hour doorman, security, storage, and indoor heated parking.

The neighborhood offer plenty of amenities as well. Residents can find several restaurants, bars, and cafes within a short walk of home. All of the best shopping, nightlife, and dining in downtown Chicago is all within easy reach of the New East Side. Several buses serve the area, and Metra and El trains are all within walking distance.

Parkside Condos is one of the premier developments on the New East Side. Don’t miss out on many other luxury Chicago Condos For Sale around the region today.

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As condo sales slide around the city, even the most popular neighborhoods in Chicago aren’t immune. Sales of condos on the Near North Side slid for the fourth consecutive year during the first quarter.

According to data from the Chicago Association of Realtors, a total of just 557 condos were sold during the first quarter in the neighborhood, down from 679 condos sold during the same period last year. It was the worst showing for the Near North Side since 2003, and was well off the high of 1,141 units sold during the first quarter in 2005.

However, despite the slowdown in sales in the neighborhood, the inventory of unsold condos on the market remained steady. The average turnover time for units sold during the first quarter rose by just 7 days from the same period last year, and now stands at 117 days.

Also, as several new luxury developments open their sales centers, prices in the neighborhood are spiking. The average sales price for condos sold during the first quarter jumped by 24 percent, one of the largest gains for any Chicago neighborhood.

While sales may have slowed on the Near North Side, the neighborhood is nowhere near what could be considered a slowdown. The neighborhood’s excellent location, amenities, and luxurious developments make this area consistently the most popular in the city. Browse through the best Chicago Condos For Sale on the Near North Side today.

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The future of a Wicker Park landmark could soon be determined. According to plans announced by 32nd Ward Alderman Scott Waguespack, the 12-story Northwest Tower could soon be redeveloped into a boutique hotel.

The tower was bought last year by 1600 North Inc for more than $5 million. The building had been home to offices. The neighborhood’s location between O’Hare International Airport and downtown Chicago could make the hotel attractive for travelers who don’t want to pay the high rates for hotel rooms in the Loop and the Near North Side.

Another plan for Northwest Tower was cancelled after uproar from neighborhood groups. That plan called for a total of 51 rental units, commercial space, and parking. Historic buildings next to the tower would have been demolished to make way for the project.

The hotel would be one of the first of its kind in the Wicker Park area. The downtown Chicago market has already seen a flurry of activity by developers in the hotel market, including several high profile developments such as the Trump International Hotel and Tower and the Mandarin Oriental. The increase in hotel developments comes on the heels of a weak market for Chicago Condos in many neighborhoods around the city.

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