Bankside

Buyers looking for an environmentally-friendly townhome in Chicago will soon have an option in Lakeview. Belgravia Group, one of the largest developers in Chicago, has announced plans to build 33 LEED certified townhomes along the river in Lakeview. Plans call for completion of this development, known as Bankside, in 2009. Bankside is located near the corner of Oakdale and Oakley Avenues.

Buyers can choose from 6 different floor plans at Bankside. The most affordable unit is a three-bedroom and 2.5-bath townhome that offers a total of about 2,300 square feet of living space. Prices for this floor plan start at $550,000. If you need more space, you'll love the four-bedroom and four-bath townhomes. These units offer as much as 3,400 square feet of living space, and are priced up to $900,000.

Residents will enjoy savings that come from LEED certification. Environmentally-friendly buildings save residents hundreds of dollars a year in utilities, and lessen the impact on the environment. The developer also plans to build a walking path along the river, which could eventually be connected to other similar projects. No information is currently available on amenities in each townhome.

Bankside will be a great option for families looking for more space close to downtown Chicago. The surrounding neighborhood offers a number of restaurants and plenty of shopping. The area just across the river at Diversey and Western is home to several restaurants, including popular choices such as Corner Stone Café, Lee's Chop Suey, and Fat Willy's. If you're looking for nightlife, just a few blocks away you'll find popular places such as Blue Light, Under Bar, and Village Tap.

Public transportation is not too convenient in the area. There aren't many buses within a short walk from home, and the closest El station is not within walking distance. There are several stations that can be reached by bus. The Kennedy Expressway connects the neighborhood with the rest of the city in minutes.

The neighborhood is urban in character, with very few open green spaces to speak of. The nearest park is located three blocks away. The planned riverfront walk would give residents a place to enjoy a morning jog and views of the river.

Lakeview has seen a significant drop in sales of condos and townhomes in recent months. However, the neighborhood continues to be one of the most popular in the city. According to data from the Chicago Association of Realtors, a total of 596 condos were sold during the second quarter, down from 806 units sold during the same period in 2007. It was the slowest second quarter in Lakeview since 1999. However, a steady inventory of unsold units on the market helped keep prices in positive territory. The average sales price was up by 2 percent during the second quarter.

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