Wolf Ridge Condominiums

Buyers looking for quality condominiums in Northlake will soon have another choice when construction of Wolf Ridge Condominiums is completed.

Wolf Ridge Development LLC and Neri Companies are working to bring this 6-story building to the market. Neri Companies is responsible for several new developments around the Chicago area, including Gateway Estates, Oakview Estates, and Trafalgar Square.

Wolf Ridge Condominiums will offer buyers a total of 60 condominiums in several different floor plans.

Several two-bedroom condominiums are also available, ranging from 1,180 square feet to 1,463 square feet. A three-bedroom floor plan is available, offering 1,790 square feet of living space.

Wolf Ridge Condominiums offers several amenities that provide a better quality of life for residents. Indoor heated parking and extra storage space is available for each unit. Each unit comes with a private laundry room, private balcony, and 10-foot ceilings.

The kitchen comes with an appliance package, breakfast bar, and custom cabinets. Bathrooms offer separate soaking tubs and walk-in showers.

Secure access via a camera system, guest parking, and a mail room are also offered at Wolf Ridge Condominiums.

Wolf Ridge Condominiums is located just one mile from the I-294 and I-290 interchange, giving residents easy access to the downtown Chicago business district and other neighborhoods around the Chicagoland region.

The neighborhood is home to several convenient stores and restaurants. Residents have easy access to the Walgreen’s on the corner of North Avenue and Wolf Road, or can head out to eat at the Sala Thai Restaurant, located at 103 N. Wolf Road.

Residents can also enjoy a warm day at the Center Point Recreation and Preserve, located just up the street. The White Pines Golf Club and River Forest Country Club are both excellent options for golfers looking to play a round in the neighborhood.

If you are looking at buying a condominium in Northlake, you should keep up to date with the latest statistics coming out of the market.

The market for condominiums in Northlake is fairly small when compared to other suburbs around the Chicagoland area. The neighborhood rarely sees more than 10 units sold during a quarter.

According to the latest report from the Chicago Association of Realtors, a total of three condominiums were sold in Northlake during the third quarter of this year. This is after three straight years that saw an average of 14 condos sold during the same period.

While sales dropped, the number of unsold condominiums on the market increased. If you are selling your condominium in Northlake, it will now take you an average of 188 days to find a buyer, compared to 107 days just a year ago.

This is the longest turnover time that the Northlake real estate market has ever experienced.

With sales stalled in the area, it’s no surprise that the average sales price plummeted by 18 percent during the third quarter. The average sales price now stands at just over $210,000, the lowest since 2002.

Buyers could continue to see further drops in prices for condominiums in Northlake.

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