Chicago MLS Drexel Parc LoftsMore Information on Drexel Parc LoftsKenwood continues to see the construction of new loft and condominium developments. Young professionals and families choose this neighborhood for the affordable real estate and convenient location close to downtown Chicago condos. One of the newest developments to come to Kenwood is Drexel Parc Lofts, located at 4537 South Drexel Boulevard. This 7-story development is yet another project by Sutherland Pearsall Development Corp, a Chicago-based developer with a long history of building quality condos and lofts. A total of 59 units were built at Drexel Parc Lofts. Floor plans range from one to three bedrooms. There are currently four units left for sale at Drexel Parc. These three-bedroom lofts are priced from 309,000. A parking space is included in the purchase price. Residents of Drexel Parc enjoy a number of luxury amenities. Kitchens come with a brand name appliance package, Canac designer cabinets, and granite countertops. The master bath offers a marble floor, marble vanity tops, and a walk-in shower. Each unit also comes with hardwood flooring throughout the main living areas and wall-to-wall carpeting in the bedrooms. Each unit also offers washer and dryer hookups, central air conditioning, and prewiring for satellite TV. Parking is included with each unit. Additional luxury amenities include oversized windows that let in plenty of natural light throughout the day, large balconies and private yards, and extra storage space. Each unit also enjoys a gas fireplace. The neighborhood is seeing a lot of growth as buyers snatch up affordable units around Kenwood. The area offers good connections with downtown Chicago via local CTA buses that run along South Cottage Grove and Martin L. King Jr Dr. The area is also served by the Green line of the El, with stations on 47th and 43rd Streets. Resident will love the incredible parkland in the area. The south end of Burnham Park is just a few blocks away, giving residents the opportunity to go for a daily jog along Lake Michigan while enjoying the excellent views of downtown Chicago. Another popular park in the neighborhood is Washington Park, one of the largest in the city. Drexel Parc is also close to the museums, cultural events, and nightlife around the University of Chicago. Kenwood saw a large increase in the number of condos and lofts sold in recent years. However, the neighborhood has also suffered a large drop in sales along with several other areas around Chicago. According to data from the Chicago Association of Realtors, a total of just 28 units were sold during the fourth quarter. This is a 67 percent drop from the same period in 2006 and the lowest total sales for the quarter since 2002. The drop in sales led to a marked increase in the average turnover time for units on the market. Condo owners and developers must now wait an average of 172 days to find a buyer in Kenwood, up from 58 days a year ago. Prices also increased during the quarter. The average sales price climbed by 18 percent during the fourth quarter. However, buyers could start to see lower prices around the neighborhood, particularly if demand doesn't pick up in the short term. I'M INTERESTEDTo:
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