1340-1344 N Dearborn

Buyers looking to get in their first Chicago condominium can find several great deals north of downtown. Even the Gold Coast, one of Chicago's premier neighborhoods, offers a number of affordable condominiums.

One development that has several different floor plans for buyers to choose from is located at 1340-1344 N Dearborn. This 87-unit building was completed in 1969, and offers studio, one, and two-bedroom condominiums for sale and for rent.

The most affordable unit on the market at 1340-1344 N Dearborn is a one-bedroom and one-bath condominium priced at $170,000. This unit offers a total of 625 square feet of living space, and is an excellent deal for any neighborhood close to downtown Chicago.

Several other one-bedroom units are also currently listed on the market, with prices ranging from $229,999 to $289,000. One studio unit is available, and is priced at $178,900. The largest unit on the market at 1340-1344 N Dearborn is a two-bedroom and 2.5-bath condominium. This condominium offers a total of 1,800 square feet of living space, and is priced at $590,000.

Residents of this Gold Coast condominium development enjoy the standard amenities found in a mid-range condominium close to downtown. The gourmet kitchen comes with granite countertops, stainless steel appliances, and hardwood floors. The master bath offers marble and granite finishes, and an in-unit washer and dryer are included with most units. Each condominium comes with hardwood floors throughout the main living areas, with some units offering plush carpeting in the bedrooms.

The building also offers a number of amenities for all residents to enjoy. A 24-hour doorman service is available, and parking is offered nearby for rent or for sale. Parking costs an extra $45,000. This development is pet friendly.

The neighborhood is one of the biggest attractions for buyers looking at units at 1340-1344 N Dearborn. The Gold Coast offers plenty of restaurants for every budget, with most centered around State Street and Division Street within a couple blocks of home. Nightlife can also be found close by, with several top clubs and bars in the area.

Commuters will love the easy connections to downtown Chicago, with the closest El train stop just two blocks away on Clark and Division. CTA buses and taxis are also readily available in the area. Much of the downtown Chicago business district is within walking distance, which saves precious time each day.

Local attractions include Lincoln Park to the north, lakefront bike paths and Oak Street Beach to the east, and Navy Pier to the south.

The real estate market in the Gold Coast and around other neighborhoods in the Near North Side statistical area is the most active in all of Chicago. According to data from the Chicago Association of Realtors, a total of 3,131 condos and lofts were sold in the area in 2007.

While this represents a 4 percent decline in sales from the previous year, the neighborhood fared much better than the rest of the city. Sales of condos were down more than 10 percent citywide.

Prices continued to rise during the year on the Near North Side. The average sales price jumped by 7 percent in 2007, and shows no signs of retreating in the short term. The neighborhood's excellent location, plentiful amenities, and many new ultra luxurious developments will ensure that prices will continue to rise in the long term.

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