Like many buyers, you are wondering if it is smart to purchase a condo in Chicago, given the current market.  Most of their concerns center on the three abilities: stability, affordability, and lend ability.

Now the fun begins. Lets find a truly sustainable condo. In my experience this means solid condo association financials, and a well maintained building, located in a walkable neighborhood that is becoming more and more desirable due to increasing amenities such as local transportation, shopping, dining. 

An excellent example is 4531N Magnolia in UpTown, Chicago. Cruising through the area, you will notice many for sale signs. But take a closer look at this property in particular.  The association has very solid reserves well in excess of the 10% required by lenders. The building has been steadfastly maintained over the years, there is both evidence of leadership in managing the property, and at the same time, there is a friendly atmosphere among the owners.  And its located just a few blocks from the el, the bus, shops and dining, giving it a very high walk score of 97%. 

Magnolia bay window

Given its low price of $279,000 its affordable assessments of $200/month, which includes the gated, secure parking, this 2 bedrooms, 2 newer bathroom condo with both front balcony and back terrace (we Chicagoans sure love our private outdoor space) is sustainable for Chicago  Add in the liveable features of central air, fireplace, and bay windows to allow the maximum amount of light that we sun-starved Chicagoans need, especially in the winter months.  Recently painted with low VOC paint, and having a new kitchen that incorporates high efficiency appliances and a sustainable cork floor, it has everything going for it.

 

 

 

 

 



When in doubt, reach out to Maggie!

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Maggie Finegan

Chicago, IL

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Keller Williams Preferred Realty

Address: Serving Chicago, Chicago, IL, 60625

Cell Phone: (773) 502-1673

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