Kristin XXI in Schaumburg

Schaumburg is one Chicago suburb that offers buyers looking for a luxury condo the opportunity to enjoy a maintenance free lifestyle without having to trade in the advantages of living in the suburbs.

One of the newest developments currently underway in Schaumburb is Kristin XXI. This development is located just off the intersection of Roselle Road and I-90. Castlebar Enterprises and the Feurer Companies are the two Chicago-based companies behind this project. Castlebar has developed more than 500 million in real estate over the past 17 years around Chicago.

Buyers can choose from several floor plans at the XXI. One, two and three bedroom units are still available. Prices for one-bedroom and one-bath units start from the 150s, making this development an excellent choice for young professionals looking to get in their first new home.

Two-bedroom units start from the 170s, and the largest three-bedroom units start from the 220s.

Amenities at the XXI are among the best on the market in Schaumburg. Kitchens come with an eat-in area, stainless steel appliance package, granite countertops, and plenty of extra cabinet space. Residents also enjoy hardwood floors in the main living areas and lush carpeting in the bedroom.

Each unit offers a huge balcony with plenty of space for a garden or barbecue. The building also has a number of incredible luxury common amenities for all residents to enjoy. Catch the latest movie in the theatre room, work in the business center, or keep in shape in the huge fitness center.

The development also offers a game room, library, free wireless internet, and a huge outdoor complex with a volleyball court and resort-style pool.

The XXI is located close to many restaurants, shops, and nightlife along the main commercial corridor of Roselle Road and Golf Road. Woodfield Mall is also close by, and offers plenty of shopping and dining options. If you're a golfer, head down to the Schaumburg Golf Club.

Commuters enjoy excellent access to downtown Chicago and other areas of the city along I-90, located just three blocks from the XXI.

The real estate market in Schaumburg has seen a steady drop in demand for condos over the past two years. Many buyers are unable to find financing from banks and lenders that have tightened requirements for new loans.

According to data from the Chicago Association of Realtors, a total of 198 condos and lofts were sold in Schaumburg during the third quarter, a decline of 20 percent from the same period in 2006. It is also the lowest total sales for the quarter since 1994.

However, despite the drop in sales, the market is still showing some signs of strength. The average turnover time for condos on the market during the third quarter rose to 86 days. While this was 25 days higher than the average turnover time seen during the third quarter 2006, it is still well below the average for all of the Chicago region.

Buyers are starting to see lower prices in the neighborhood. According to the C.A.R. report, the average sales price during the third quarter dropped by 3 percent from the same period in 2006.

Buyers should keep an eye out for great deals and incentives in the short term as condo owners and developers look to attract attention to the area.

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