Along the east side of Sheridan Road, across the street from Wilmette's Plaza del Lago, are seven multi-story condo and co-op buildings offering incredible Lake Michigan views. Although they are independent of one another they are known collectively by the locals as the Plaza del Lago condos. They are popular among down-sizers and empty nesters from neighboring villages who have sold their long-time family homes but want to stay in the area. All but one of the buildings were built in the 1960s. No pets are allowed in any of the buildings except for 1618 Sheridan Rd.
During the mortgage meltdown, these buildings took a big hit and the condos were very difficult to sell . As the recession wore on, prices declined dramatically. Even with prices reaching 40% below peak values, the assessments remained high, and buyers were unwilling to commit to such a large monthly outlay. Many units languished for years before selling. Now that the economy has recovered, these buildings are popular again and the listing inventory is very low.
1410 Sheridan Road
Built in 1960, this is a seven story co-op building with 29 units. As the southernmost building, many of the units have the added advantage of unobstructed views of Gillson Park, as well as Lake Michigan.
There are one, two and three bedroom units (as well as one four bedroom unit). Most units have a sun room as well as a fireplace (except for the one bedroom units). Amenities include doorman, private beach, roof deck, indoor parking and storage.
Current prices range from the mid-$200,000s up to $500,000, depending on number of bedrooms and whether the unit has been recently updated. Monthly assessments run from around $1,600 for a one bedroom to over $3000, but taxes are included in the the assessment since this is a co-op. Mortgages are allowed.
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