Downtown Chicago continues to see new development of condominiums and lofts in a real estate market that has many investors spooked.

Downtown Chicago seems to be holding strong as condo vacancy rates remain low and sales prices are steady.  According to the Chicago Association of Realtors, the downtown Chicago condo market has seen almost no change over 2006 prices.

The average sales price for a condo in the Chicago Loop during the second quarter of 2007 was $363,256, down under 1 percent from the same period during 2006.

The newest condo development announced for downtown Chicago is for a 31-story high-rise that will offer 280 luxury condos.

The West Loop property is located next to the Main Post Office on 519 S. Clinton.

The development, spearheaded by George Bonomo, is currently under review by neighborhood officials.

Downtown Chicago Condo development continues at a frenetic pace, with many luxury developments going up all over downtown.  The Chicago Spire, The Trump International Tower, and the Mandarin Oriental are all offering luxury units in mixed-use space.

These towers also promise to change the face of the Chicago skyline.  Keep up with the latest Chicago, IL Real Estate Report and stay on top of the market.

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Buyers around Chicago are looking for new condominiums that offer green construction and energy saving technologies.  The Fountain View Lincoln Square is a new condo development planned for Lincoln Avenue and Giddings Plaza that will offer energy efficient condominiums.

The building is LEED registered.  LEED, or Leadership in Energy and Environmental Design, certifies properties around the country that have proven to save energy, use green construction materials, save water, and care for both the internal and external environment. 

The Fountain View Lincoln Square offers preconstruction prices on 18 two and three bedroom condominiums in the heart of Lincoln Square.  Prices start at under $500,000.  The Fountain View is currently the only LEED certified green building in Lincoln Square.

Lincoln Square is one of the hottest neighborhoods in the city.  According to the Chicago Association of Realtors, the number of homes sold in the neighborhood rose 6% in the second quarter over 2006 numbers.  The average sales price for condominiums has also increased by 17% over last year. 

Residents of Lincoln Park have easy access to downtown Chicago via public transportation as well as many other neighborhoods around the city.  The neighborhood is home to many of the best restaurants and shops in Chicago. 

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Bucktown continues to be one of the hottest neighborhoods in the city, attracting many young professionals and families to the area because of the affordable prices and amenities.  The neighborhood is just west of Lincoln Park and is a short trip from downtown Chicago via public transportation and the expressway. 

One condominium development that offers luxury units on the Chicago real estate market is located at 1720 N. Marshfield.  This condo building has two bedroom and two bath units for just under $500,000.   Units have open floor plans allowing for innovative decoration and loft type living.  There is a rooftop deck with excellent views of downtown Chicago and surrounding neighborhoods. 

The neighborhood is right on the border between Bucktown and Lincoln Park across the river.  There are many great new restaurants, shops, and nightlife that have come to the area.  There is also quick access to the parks on Lake Michigan, giving residents plenty of room to get out and enjoy the views of downtown and the lake while walking or biking along the many trails in the area. 

Bucktown offers many luxury condos and lofts for sale on the Chicago real estate market.  There are many opportunities for great deals on luxury Chicago Illinois Real Estate for every budget. 

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