July 21, 2008

Condo sales down 50 percent in St. Charles

Category: Luxury Condos. Posted by Mike at 11:11 pm.

If you’re in the market Chicago Condominiums, the region is starting to see some great prices, particularly in areas hard hit by a downturn in demand. St. Charles is one suburban area that has seen a sharp drop in demand in the past few months.

According to data from the Chicago Association of Realtors, a total of just 23 condominiums were sold during the first quarter in St. Charles, down from 46 units sold during the same period last year. The previous first quarter saw the strongest sales in more than 17 years. However, this quarter was the slowest in 10 years for the neighborhood.

The increase in sales hasn’t yet led to an overall downturn in prices in the area. However, prices have started to slow. The average sales price was up by just 1 percent from the same period last year, and buyers could start to see prices come down in the area.

The inventory of unsold condos on the market is at near record highs. If you’re planning on selling your condominium, it could take you longer than you thought. The average turnover time is now at 106 days.

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July 7, 2008

Developer offers new incentives at 757 Orleans

Category: Luxury Condos, New Condos. Posted by Mike at 2:19 pm.

The first move ins are almost set for 757 Orleans, a new condominium development located in River North. The development is a project by the Gammonley Group, a Chicago-based developer.

Buyers can now take advantage of a new incentive offered by Gammonley on remaining units at 757 Orleans. The developer is now offering a choice of a discount on closing costs or upgrades.

Standard amenities at 757 Orleans include a gourmet kitchen with stainless steel appliances, 42-inch cabinets, and granite countertops. Each unit also comes with hardwood floors, private outdoor space, and floor-to-ceiling windows that offer great views to downtown.

The 22-story building will offer a total of 198 condominiums, with floor plans ranging from 644 square feet to more than 1,300 square feet. Prices for these units start at $270,000 and range up to $520,000. Studio, one, two, and three-bedroom floor plans are still available.

According to the most recent sales information from the developer, just over 50 percent of the 198 units have already been sold, leaving buyers with plenty of choices at 757 Orleans. This development is one of several new buildings offering luxury condos for sale around River North. Check out the best Chicago Condos For Sale throughout the city today.

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June 30, 2008

Laurel Park offers luxury condos in Highland Park

Category: Luxury Condos, New Condos. Posted by Mike at 1:10 pm.

Laurel Park is a great choice for buyers looking for a luxury condominium or townhome in Highland Park. This development is a project by the highly regarded developer Metropolitan Development Enterprises, which has built projects such as the Royale and the Palladio.

Buyers can choose from a total of 30 townhomes and 12 condominiums at Laurel Park. The most affordable unit offers a total of two bedrooms and 2,966 square feet of living space. This condominium is priced at $850,000. The most expensive townhome has four bedrooms in 5,398 square feet of living space. This unit is priced at $1.5 million.

Amenities at Laurel Park include a kitchen packed with granite countertops, a breakfast bar, and a brand-name appliance package. Each unit also offers plenty of private outdoor space, with private yards included with each townhome. Townhome residents also enjoy hardwood floors throughout the main living areas and a two-car attached garage.

Laurel Park is located just minutes from historic downtown Highland Park, which offers plenty of restaurants, stores, and public transportation to downtown Chicago and the rest of the area. Don’t miss out on these incredible Chicago Condos For Sale.

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