Chicago will soon add two luxury new construction buildings to its real estate options, and both developments are slated to be icons in architecture, service and luxury living. Lincoln Park 2520 in Lincoln Park is in a prime location in a neighborhood setting, and the Ritz-Carlton Residences puts you in the heart of downtown but with absolute privacy.
After recently securing a new $170 million construction loan, one of the most anticipated Chicago real estate projects, Lincoln Park 2520, is on its way to becoming one of the city’s most prestigious luxury buildings. Located at 2520 N. Lakeview Ave., the development has been designed to include a 1 ¼- acre private park, a dog run and a children’s playground.
Architect Lucien Lagrange who is responsible for both of these buildings is known for the facades of his architectural masterpieces and a finite attention to detail. The latest investments to finance the 2520 Lincoln Park building shows the promise and confidence for this Chicago new construction building to be one of the city’s very best. One of the latest investors to deliver on Lincoln Park’s 2520 development loan said, “Lincoln Park 2520 will forever be recognized as the Crown Jewel of Chicago’s magnificent lakefront.”
With deliveries beginning in early 2012, Lincoln Park 2520 is slated to be 39 stories with 229 luxury Chicago condos. Units range from one to four-bedrooms, from 899 square feet to 4,703 square feet, and are priced from $1 million to $5.7 million. Several penthouses are also available, from 3,500 square feet to 8,300 square feet and running the spectrum from $4 million to $11 million.
Making a New Construction Purchase
When buying Chicago new construction, it’s crucial that buyers have an agent who is working for them, rather than walking into a sales center and being represented by someone’s whose interest is vested first in the development. Working with an agent like Sheldon Salnick, buyers can still get all of the information they need with their own agent. Sheldon can set up an appointment to see all of the layouts and finishes of buildings like Lincoln Park 2520 and the Ritz-Carlton Residences.
Sheldon can help potential buyers understand the nuances of which floor plans will work best for their needs and result in the best resale value. He’ll also provide insight as to what questions buyers should ask the developer so that buyers have all the details they need before making a major decision to purchase new construction real estate in the current economic environment. With more than 21 years of experience selling Chicago real estate, Sheldon has represented more than $250 million in new construction, including a $5 million new construction home on Orchard, one of the most prestigious streets in the city.
To get an idea for what is available, you can search some of the units for Lincoln Park 2520 and the Ritz-Carlton Residences on Sheldon’s website. However, this is just a sample of properties being sold in these developments and does not include all units that are available. If you’re ready to see and experience what units are available, Sheldon can provide buyers with a private, personal and confidential tour of each building, which includes seeing the various floor plans, available finishes and custom options a purchaser may desire.