With inventory levels at all time lows developers are getting back in the game, at least on the smaller scale projects. Noah Properties has started a project at Ashland and Grace in a parking lot they acquired from a distress sale according to Crain’s Chicago Business. The project will comprise of 14 units all 3 Bedroom and 4 Bedroom condos priced from $430,000 to $700,000 for Penthouse units.
Currently inventory in Lakeview, especially among 3 Bedroom condos is very slim. Very little new construction has hit the market in recent years but as buyers get back into the game they crave new construction. Completion for this project is expected in August or September of this year.
Pricing for the project:
3 Bedroom Simplexes from $430,000
3 Bedroom Duplexes from $550,000
4 Bedroom 2600sf Penthouses from $700,000