In today’s market, clients are very cost conscious and want the most space for the least amount of money. Clients also want to keep their overhead (monthly cash outlay) as low as possible. For this reason, I am recommending clients consider duplex-up condos and duplex-down condos. These type of condos are in 3 flats, six flats and 8 flats.
The Chicago real estate market has an abundance of these types of condos. The square footage in these units can vary from 1600 square feet up to 2300 square feet. And the price can be anywhere from $450,000 all the way up to $750,000. The more expensive units typically have Viking ovens, SubZero refrigerators plus loads of detailed moldings, interesting millwork and high end showers in addition to heated bathroom floors with radiant heat built right into the floor.
There are a lot of new construction projects with these types of condos, and they are located primarily in Lakeview, Lincoln Park, Old Town, DePaul, as well as other areas of the city. Check them out, there is real value to these properties as the assessments associated with living in a duplex are very economical; anywhere from $150 to $350 per month.