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Sheridan Grande

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  • Location: 4848 North Sheridan Road in Uptown
  • Pricing: 1-3 bedrooms for $284,000 - $384,000
  • Developer: Capital Realty & Development, LLC
  • Architect: DeStefano & Partners
  • Footage: 864 square feet to 1,684 square feet
  • Capactiy: 8 stories, 70 condo units

Uptown continues to attract some of the best new luxury condominium developments in all of Chicago.

One of the newest developments to come to the area is the Sheridan Grande, located at 4848 North Sheridan Road.

The eight-story building has been developed by Sheriden Grande Partners, LLC and constructed by IHC Construction Companies LLC.

The building was completed in late 2006 and offers a total of 70 units ranging in size from one to three bedrooms.

The one-bedroom units offer floor plans starting at 864 square feet. Prices for these condominiums start at $284,000.

Two-bedroom condominiums are priced from $319,000. Three-bedroom units offer as much as 1,684 square feet of living space for $384,000.

Amenities in the building include a 24 hour doorman service, indoor parking, extra storage space and a rooftop deck for all residents. Sheridan Grande also includes several features that offer extra protection to residents. There are carbon monoxide and smoke detectors in all parts of the building.

Each unit comes with an impressive collection of amenities. The condos have hardwood floors in the main parts of the unit and wall-to-wall carpeting in the bedrooms. Kitchens come with a brand-name appliance package, granite countertops, and an island for added convenience.

The neighborhood is one of the main draws for buyers who choose the Sheridan Grande. The Sheridan Grande is just steps from the Lake Michigan shoreline. Residents can enjoy walking trails, bike paths, and plenty of open spaces with excellent views of downtown Chicago.

The neighborhood also has easy connections to the downtown Chicago business district via the El train and city buses.

Residents can also choose from several area restaurants, including the House of Ribs and the Crew Bar & Grill.

The neighborhood offers many retail shops, banks, supermarkets, and other necessary services within blocks of the Sheridan Grande.

Baseball fans can enjoy a Cubs game at Wrigley Field, located just a few blocks south of the Sheridan Grande.

If you are looking for a new condominium in this part of Chicago, it is important to stay on top of the most recent numbers from the real estate market in the neighborhood.

The real estate market in Uptown is currently experiencing several problems that could lead to lower prices in the short term.

According to the latest report from the Chicago Association of Realtors, condo sales are declining in the neighborhood. During the second quarter of this year, a total of 328 condos were sold in Uptown.

This represents a 5 percent decline over the same period last year and is the lowest number of sales that the neighborhood has seen since 2002.

At the same time, condos are sitting longer on the market. If you are selling your condo in Uptown, it will now take you an average of 141 days to find a buyer. This is a 70 percent increase over the same period last year and the longest turnover time the neighborhood has ever seen.

Buyers should look for lower prices as many condo owners face long waits and increasing financial pressure.

The average sales price in the neighborhood increased by less than one percent during the second quarter, and could come down over the next few months.



 

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