Noah Properties has announced the development of an 18 unit condo complex and six single-family homes in West Town. Located at the corner of Erie Street and Damen Avenue, the former home of West Town Bakery, makes for a great location in the city! Noah Properties also plans on building a 15-unit condo development in the North Center neighborhood on Western Avenue, bringing luxury and value to the Chicago housing market. In a challenging economy, Noah Properties has focused on building smaller, lower-risk projects and is seeing returns from that approach as they appeal to home buyers who want to live an urban lifestyle.
Grace Sergio, owner of Sergio and Banks Real Estate, whose boutique brokerage will be listing the homes for sale, reports that new homes are in high demand in that location. “Being able to sell more of these homes in one location is very attractive,” said Sergio. “If the land, obviously, is for the right price then we can build the right product where there is demand.”
In terms of pricing, Sergio related, “The twelve three-bedroom condo units will be priced just under $370,000. The six four-bedroom units will list near $480,000, and the single-family homes, will be offered just under $800,000 for almost 3,200 square feet.” The Chicago properties will be built very quickly, with an expected release date of spring or early summer of 2013, according to Sergio. To find out more, read the full article in Crain’s Chicago Real Estate Daily here or call Sergio and Banks Real Estate at 773.235.6100.
