West Town Is Chicago's Top Neighborhood for New Condo Construction
Over the past 12 months, West Town has had almost 350 condos sold or on the market, according to a blog post on Lucid Realty. This level of activity makes West Town the hottest spot for new condos in Chicago.
Lincoln Park had the second highest number of new condos sold or on the market — a little less than 200 units — over the past 12 months. The blog post points out smaller condo developments are the prevailing trend for West Town and Lincoln Park. The majority of developments in these neighborhoods feature fewer than 20 units.
When it comes to price, West Town condos are significantly less expensive than Lincoln Park condos. The average price of a West Town condo is a little over $600,000, while the average Lincoln Park condo price is more than $1 million, according to the blog post. Lucid Reality puts the average price per square foot of a West Town condo at a little more than $300, while the price per square foot in Lincoln Park goes up to approximately $450.
The other hot Chicago areas for new condos include: