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North Ashland Avenue is a hive of new residential construction these days, and apparently, it’s all selling incredibly well. That’s the only explanation we can imagine for why builders fail to have signs, great big signs, proclaiming the features that might make their condos even slightly different from the hundreds of other condos recently built or underway on this very busy street.
Have median planters had that powerful an effect? Is that why the project pictured above (we’d guess it’s 3850 N Ashland Ave, but it’s hard to say) has no sign? Well, it’s probably at a stage of construction where the sign had to be temporarily removed, you say? In this market it’s hard to imagine why you wouldn’t find a way to keep some sort of sign up at all times, but let’s assume that’s the case.
What about the development underway just to the south, at 3832-3834 N Ashalnd Ave? It’s at the opposite end of the cycle – foundation’s in, block just starting to rise – and again, no sign. Oh, wait, there is, if you get right up against the fence, a building permit behind chain link, which tells you the project includes five residential units with ground-floor commercial. It also gives you the helpful info that 3832-3834 N Ashland, Inc. is the builder.
So, if you’re interested in buying, just track that company down.
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The demand is so great for $400k 2/2 condos on Ashland that they’re all pre-sold before the developer breaks ground. If you didn’t sign a contract in ‘05 then you’re totally screwed. You’ll have to try and buy an existing unit on the resale market. Good luck though, the yearly appreciation rate on these extremely desirable units is astronomical.
Ah, yes, REIC. I suspected that was the case.
Luckily, that resale market has blossomed. And the agents selling them take the time to put their signs out, though it’s hard to find a space on the wrought iron at a couple of buildings.
The design is H-O-K-E-Y. Fake keystones? Have we not moved beyond this junk?
And you better hurry up and buy these places before 100% financing neg-am interest-only adjustable rate suicide loans dry up completely!
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