Under contract! 55 and older community in North Center

Our client secured a condo unit at 2335 W Belle Plaine, Chicago IL 60618. The 55 and older living community requires income restrictions determined by the U.S.  Department of Housing and Urban Development. It is a rare affordable housing development in North Center.

A long time friend and client of ours is selling her large North Center condo. It's time to downsize and retire! She'll move just a block away to Belle Plaine Commons.  Buyers must be 55 years and older to buy in the community.  Yearly income and age restrictions apply!  In fact, income qualifying buyers must attend a "Home Buyer Training for Condominium Ownership" sponsored by the City of Chicago Department of Housing.

There are few affordable options that provide this quality of life to retiring seniors in the North Center and near neighborhoods.  For the price of a vintage condo (and all the quaint inconveniences) our buyer client gets a modern amenity condo including in unit washer/dryer, Central HVAC , large walk-in closet and fully equipped kitchen. Designated parking and guest parking are included. The quality elevator building with many common areas and various activities is located near our clients last two homes where she'll maintain her current lifestyle.

Attractive grounds and common spaces surround the building. 

The property include large open courtyard with outdoor seating.

Only five units at Belle Plaine Commons have sold in the last 24 months with prices ranging $187,000 to $345,000.  There are a total of 92 units in the building.

Medical facility on campus as part of the Martha Washington Apartments that provide independent living for seniors 62+ years of age.

The condo includes a parking space and guest parking is located on the grounds.

The contract is in attorney review and our client expects to be moved in before Christmas. Contact us to sell or buy your next home!

Senior living in top Lincoln Park location!

Belmont Village 700 West Fullerton Avenue, Lincoln Park is a new senior living center at the massive Lincoln Common redevelopment site (former Children's Memorial Hospital). All photos Eric Rojas, Broker, Kale Realty

We have talked a little about some of the hot categories of business and construction around Chicago. Senior housing is popping up (and trying to pop up) in many north side neighborhoods.  The growth area is answering the need for both market rate and affordable places for seniors to stay in the city and even their immediate neighborhoods.

Belmont Village  (pictured above) is a new construction senior living facility built on the site of a former Nellie Black vintage building... that looked almost identical. The former Children's Memorial owned Nellie Black building would have been too costly to retro-fit for the senior center.  I passed by the facility yesterday on the way to showings. The senior living center is expected to open this summer.

Just a few examples: A new Northtown Library Branch was recently built in West Ridge with 44 affordable senior units.   Artis Senior Living was recently completed at 3535 North Ashland in Lakeview.  Another 200 unit affordable senior housing center is to be developed at one of the old Ravenswood Hospital buildings at 4501 N Winchester in Lincoln Square.

Senior housing rises on long vacant Lakeview lot

New senior housing construction on Ashland just south of Addison. (photo Eric Rojas, Broker, Kale Realty)

The huge and LONG time vacant lot on North Ashland in Lakeview is finally in development.  The community will focus on assisted living and long term memory care clients. Construction has ramped up at a new senior living development at 3535 N Ashland on the lot once home to Bert Weinman Ford.  I drove a Ford Explorer when the dealership closed and lamented the loss of my service guys at the time.  That was a loooonnggg time ago.  The lot had remained vacant for 12 years!

I have a couple clients that have recently asked about selling their regular market condos and buying a senior living condo. It is good to see more and more choices on the North Side  in recent years.  A couple communities of interest are The Martha Washington, and  The Admiral at the Lake.




 

Photo: Senior housing development coming to 4501 North Winchester in Lincoln Square

4501 N Winchester, Chicago IL 60640 (all photos Eric Rojas, Broker, Kale Realty)

I walked by the site of proposed senior housing development to be located at 4501 N Winchester earlier this week.  The building is just south of the new Lycee Francais private school and was part of the old Ravenswood Hospital campus.

The neighborhood has experienced a diverse explosion of infrastructure, service, retail and entertainment development over the past three years. From what I can gleam the community will be very supportive of the senior housing component as it heads to zoning and community meeting phases. This development is more good news for a vibrant neighborhood.

Home Sales
Market price housing near the development site and school is robust.  The 4200 to 4800 N blocks of Winchester and Wolcott has had 25 condo units sold in the last 12 months with a median price of about $230,000. Many of these units are two bedroom, one bath vintage conversions without dedicated parking (but steps from great train and bus routes, grocery, shops etc).

Single family homes are on the high end.  Three homes on Winchester and Wolcott have sold over the last 12 months with prices from $800,000 to $1,365,000. A nice three-flat sold for $728,000 near the the development site on Wolcott.