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Elmdale Condos

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Edgewater offers a great lifestyle with a mix of an urban and suburban amenities. The area offers plenty of affordable condominiums that are a great choice for first-time buyers looking to live near Lake Michigan. One development that offers a number of one and two-bedroom condominiums is Elmdale Condos.

Elmdale Condos is located at 1425 W Elmdale Ave. This four-story development offers a total of 26 condominiums. There are currently no units available for sale at Elmdale Condos. However, from previous sales we can get an idea of values in the building. The most affordable unit to sell in recent months is a one-bedroom and one-bath condominium that sold for $170,000. Other one-bedroom units have sold for between $196,000 and $205,000. Two-bedroom and one-bath units have sold for between $264,000 and $285,000.

Residents of Elmdale Condos enjoy a number of amenities standard with each unit. Each kitchen comes with 42-inch cabinets, stainless steel appliances, and granite countertops. Residents also enjoy hardwood floors throughout the entire unit, including bedrooms. The master bath features marble finishings, and each unit comes with prewired sound, crown molding, and designer lighting. You'll have to find your own parking, as there is no garage or outdoor lot here.

The neighborhood offers plenty of opportunities for dining, nightlife, and shopping. There are plenty of restaurants around Ridge Ave and Clark Street. Popular choices include Pizza Ave, Carson's, and White Castle. Nightlife is centered along Broadway and Clark. Favorites include County Pub, Champions, and JJs.

If you commute to downtown, you'll love the public transportation in the area. The development is located just three blocks from the nearest station on the Red line of the El at Thorndale and Broadway. There are also several buses to other neighborhoods as well as express buses to the downtown business district in the area.

You'll love living close to the lake. The Lake Michigan shoreline is a short five-block walk from home. Residents can get out and go for a morning jog or relax at one of the area's many beaches any day of the week.

Edgewater has seen a sharp drop in sales during the second quarter. According to the Chicago Association of Realtors, a total of just 168 condos and lofts were sold in Edgeview during the second quarter, down from 305 units sold during the same period in 2007. It was the worst result seen during the second quarter since 1995 for the neighborhood.

Sellers are also waiting longer to find a buyer. If you're selling your condo in Edgewood, it will take you an average of 152 days to find a buyer, up from 120 days. The increase in the inventory of unsold homes is leading to a plateau in prices in the area.

 

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