Just about anyone can afford to buy on the Gold Coast if they are prepared to think small enough. Just take The Flats on LaSalle, a conversion of an apartment building at 1140 N LaSalle St. Developer Metropolitan Development Enterprises is offering condos from the $90s. Nope, we didn’t miss a digit, we’re talking double digits.
The developer is offering studios in “as is ” condition (basically, a lick of paint and all appliances in working order), from the $90s, and is throwing in two years’ worth of assessments, too. Or, buyers can opt or an upgraded studio priced up to the $130s. The studios are all about 320 square feet.
We hear that a broad range of people have been snapping up the condos so far, including empty nesters, busy young professionals and the parents of college-aged kids. Several city colleges are located nearby and many students rent in the building.
The building is about 33 percent sold after six months on the market. To really push the message that small is cute and efficient, the developer is entering all condo buyers into a draw to win a new Mini Cooper car.