New Mixed-Use Development Coming to South Shore
Chicago’s South Shore neighborhood, located about 10 miles south of the Loop, is a well-established lakefront community that offers residents scenic parks and beaches, a celebrated cultural center, lots of restaurant options, affordable real estate and all the conveniences of big city life. And now, a new mixed-use development will add 27 more condo units and 2,200 square feet of commercial space to the neighborhood.
The land at 1700 East 71st Street was owned by the city and sold to a local developer for a fraction of its appraised value. The planned project includes four separate buildings with two and three-bedroom units that will be listed from the low $190,000s to the low $300,000s. These condos are on the higher end of real estate values in the South Shore community (the current average listing price is around $165,000). Buyers will be able to select from a number of floorplans and the complex is situated close to many neighborhood amenities – including dining, grocery stores, schools, retail store and service businesses. Plus, the South Shore Golf Course and Lake Michigan waterfront are less than a mile away.
The housing market in the South Shore has a lot of inventory right now with many great deals on condos, townhouses, co-ops and single-family homes. Attached residential options range from rehabbed brick courtyard buildings with beautifully refurbished interiors to converted century-old apartments with all the charm of a vintage home. Detached dwellings include well-maintained brick three-stories, classic Chicago bungalows, mid-century ranches and traditional frame houses, all with their own backyard and garage. Prices also vary greatly, from well under $100,000 to the low $400,000s, so buyers can find good value for their money.
Posted at 09:30AM Jul 07, 2008 by Spencer Mason in General Comments[1]
Posted by Yianni on July 14, 2008 at 04:42 PM CDT #