2606 W Balmoral Ave

Lincoln Square is a great choice for buyers looking for a quality condominium at a more affordable price. This neighborhood has enjoyed strong sales for the past few years, and is one of just a few areas of Chicago to see an increase in sales in 2007.

Buyers can choose from a range of new and resale developments in the neighborhood. One development that has been around for several years is located at 2606 W Balmoral Avenue. This 58-unit building offers a number of affordable condominiums, with one and two-bedroom units available.

One unit that is currently on the market is a one-bedroom and one-bath condominium that is priced at just $148,900. This condominium is the perfect choice for first time buyers and young professionals, with low monthly assessments of just $150. Taxes on this property are $1,500 per year.

Recent sales at 2606 W Balmoral give us a great idea of values of these condominiums. Only one-bedroom condominiums have been sold in recent months, with the most affordable unit closing at $124,900. Other one-bedroom units have sold for between $132,900 and $168,900.

Amenities at 2606 W Balmoral include a large living room, modern kitchen with an appliance package, custom cabinets, and granite countertops, and hardwood floors throughout the main living areas. However, there are a couple of drawbacks to this development. There is no parking available onsite, so you'll have to find your own on the street or rent a space in a nearby garage. Also, no pets are allowed in any of the units.

The neighborhood offers an excellent lifestyle that combines urban amenities with a suburban flair. Residents will find much of what they need within walking distance from home. Restaurants for every budget can be found along Lincoln Ave, including Lincoln Korean Restaurant, Café Utjeha, and Pueblito Viejo. If you're looking to enjoy a night out on the town, head over to Lincoln Billiard or grab a nightcap at Hidden Cove.

The neighborhood also offers plenty of opportunities to enjoy fresh air and green space. East River Park and West River Park are just a few blocks away, making it easy to enjoy a warm summer afternoon with the family next to the Chicago River.

The neighborhood doesn't have the best links to downtown. However, there are several El stations about 12 blocks south, with CTA buses connecting you to and from home along Lincoln Ave. The nearest El stop is the Brown line at Western.

Lincoln Square is one of the few neighborhoods in Chicago to see an increase in demand for condominiums in 2007. While sales across the city were down over 20 percent, the neighborhood enjoyed an increase of 18 percent in condo sales during the year. According to the Chicago Association of Realtors, a total of 574 units were sold during the year, an all-time high for the neighborhood.

Condo owners and developers faced a longer wait despite the increase in sales. If you're selling your condo in the neighborhood, it will now take you an average of 97 days to find a buyer, up from 81 days a year ago. This could put a damper on the market in the short term.

However, for now prices are on their way up for condos in Lincoln Square. The average sales price for condominiums sold in 2007 rose by 6 percent from the previous year.

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