Lake Park Gateway

North Kenwood is a peaceful enclave located south of downtown. The neighborhood offers a number of new developments that are a great choice for buyers looking for larger units at an affordable price. One development that has just come on the market is Lake Park Gateway. The development is led by Tiberias Home Builders, a Chicago-based developer with long experience bringing quality units to the market. Past developments include 1520 North Sedgwick and 1301 W Washington.

Construction on the 18 simplex and duplex units continues at 1251 E 46th Street. Buyers can choose from a number of floor plans. Two, three, and four-bedroom condominiums are available, with prices starting at just $259,000.

Each condominium comes with a long list of luxury amenities. The kitchen offers 42-inch cabinets, stainless steel appliances, and granite countertops. The master bathroom features marble floors and countertops, a 6-foot Jacuzzi, and twin sinks. Residents enjoy a gas fireplace in the large living room. Hardwood floors come standard throughout the main living areas, and bedrooms come with plush carpeting. Each unit also comes with a large rear deck.

The neighborhood is a great choice for buyers looking to enjoy a mix of urban amenities and a suburban feel. There are plenty of amenities within walking distance. Restaurants are found mainly along 47th Street and Cottage Grove Avenue. The nearest restaurant is Fong's Chop Suey, located next to the Metra station. If you're looking to go out for the night, Checker Board Lounge is a great choice, located just a few blocks away on 52nd.

Commuters can get to downtown Chicago in minutes via the 47th Street Metra station located just a block from home. Lake Shore Drive is also just a minute from home, making it easy to drive into downtown or out to other parts of the city.

One of the biggest attractions for buyers looking at condominiums in North Kenwood is the proximity to Lake Michigan. There are plenty of walking and bike paths, as well as lots of open green space with incredible views to the Chicago skyline along Lake Michigan.

Sales of condominiums and lofts have fallen sharply in recent months in Kenwood. According to data from the Chicago Association of Realtors, a total of just 24 units were sold in the neighborhood during the second quarter, down from 61 condominiums sold during the same period in 2007. It was the worst result for the neighborhood since 1999.

However, the drop in sales is leading to a decline in prices, giving buyers a great opportunity to get the price they want. The average sales price fell by 18 percent during the second quarter, and could continue to fall in the short term.

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