Drexel Square

Kenwood offers a number of opportunities for families and young professionals looking for large condominiums and townhomes at an affordable price. The neighborhood has seen a lot of growth in recent years, with many new restaurants, shops, and nightlife coming to the area.

One of the most luxurious new Chicago townhome developments in Kenwood is Drexel Square. This project is led by Sutherland Pearsall, a Chicago-based company with many other projects currently underway in the neighborhood. Other developments by Sutherland Pearsall include Boulevard Townhomes on Drexel, Drexel Court Townhomes, and Lake Park Place.

Buyers can choose from several floor plans at Drexel Square. Three and four-bedroom townhomes are currently available for immediate delivery. Prices for units at Drexel Square range from 419,990 to 524,900.

Each townhome at Drexel Square comes with an amazing amount of amenities. Kitchens offer brand name stainless steel appliances and Canac cabinets in a number of different styles. The master bath includes marble flooring, granite countertops, and Kohler toilets.

Residents also enjoy oak flooring in the main living areas, a fireplace with granite or marble surround, and carpeted bedrooms. Each residence is equipped with a security system and intercom entrance.

Townhomes come with a two-car garage, washer and dryer hookups, private balconies, and plenty of extra storage space.

The neighborhood has seen a lot of growth in recent years, and offers plenty of conveniently located shopping, dining, and nightlife. The area is also served by several buses as well as Metra and El trains.

Commuters can get to downtown Chicago in minutes via the El train located at 43rd Street and Prairie Ave. The Metra train at 47th Street connects the neighborhood with downtown and the southern suburbs.

Residents also enjoy easy access to the Lake Michigan shoreline. The southern end of Burnham Park offers walking trails and open green spaces with excellent views of the downtown Chicago skyline.

The real estate market in Kenwood has seen a sudden drop in demand as many buyers face difficulty finding financing from banks and lenders.

According to the Chicago Association of Realtors, a total of just 28 condos and townhomes were sold in Kenwood during the fourth quarter. This is a 67 percent drop in sales in just one year, and the lowest total sales for the neighborhood in 5 years.

Condo owners are facing a difficult market when it comes time to find a buyer. The drop in demand led to an increase in the average turnover time for units on the market. The average turnover time for condos and townhomes sold during the fourth quarter rose to 172 days, up from 58 days during the previous year.

The average sales price in Kenwood rose during the fourth quarter, despite the increase in unsold units on the market. The average sales price during the fourth quarter was 18 percent higher than during the same period in 2006.

Buyers could end up seeing lower prices in the neighborhood if demand doesn't pick up around Kenwood. Look for great deals on condos and townhomes in this up and coming neighborhood.

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