May 28, 2008

Sales down to seven-year low in South Shore

Category: Affordable condos. Posted by Mike at 9:55 am.

Sales of condos and lofts in South Shore were off sharply during the first quarter. The neighborhood was one of several around the greater Chicagoland region to see a significant drop in demand for condominiums.

According to the Chicago Association of Realtors, a total of just 32 condos and lofts were sold during the first quarter in South Shore, down from 55 units sold during the same period last year. It was the lowest total sales seen during the quarter since 2001.

Prices also pulled back during the first quarter for condos in the neighborhood. The average sales price fell by 2 percent from the same period last year, and could continue to fall if demand doesn’t increase in the short term.

Condo owners and developers received some good news during the quarter as the average turnover time continued to drop in the neighborhood. If you’re selling your condo in South Shore, it will now take you an average of 99 days to find a buyer. This is well off the high of 163 days it took to find a buyer in 2005.

However, buyers could continue to see low prices for Chicago Condos For Sale in the neighborhood in the short term until demand recovers.

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West Loop luxury at Brixton Lofts

Category: West Loop. Posted by Mike at 12:04 am.

The Brixton Group, Ltd is the Chicago developer behind the luxury units at Brixton Lofts. This West Loop development offers some of the best new lofts in the neighborhood.

Buyers can choose from a total of 31 units at Brixton Lofts. One and two-bedroom lofts are available. Each loft will come with a lot of high end features, including WiFi access, intranet service for the building, and individual security systems. The kitchen offers Frigidaire appliances, granite countertops and 42-inch cabinets.

Residents also enjoy a master bath with a walk-in shower and separate soaking tub, marble vanities, and maple cabinets. The development also offers hardwood floors throughout the main living areas and carpeted bedrooms.

Brixton Lofts is located within steps of the best shopping, nightlife, and dining that the West Loop has to offer. Greek Town is also just a few blocks away, home to the best Greek food outside of Athens. Residents are also steps from the downtown Chicago business district, making the daily commute a lot shorter.

Brixton Lofts is one of several new luxury developments coming to the West Loop. Browse through the best Chicago Condos For Sale on the market around the West Loop as well as in neighborhoods across Chicago.

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