Searching for a new-construction single-family home priced under $1 million in Chicago is a little like hunting for the proverbial needle in the haystack, so it’s worth noting that MCL Companies is marketing 10 detached homes priced from the $620s in phase one of Metro Place.
As land prices rise, most developers are turning their attention to condos, diminishing the supply of single-family homes. Plus, it’s more difficult these days to find tracts of land large enough to develop a community of new detached homes. Some developers have found success redeveloping large industrial plots, and that’s the route that MCL has taken.
Metro Place is located on a former industrial parcel bounded by Roosevelt Road, the railroad tracks, Campbell Avenue and Fillmore Streets, just west of the Illinois Medical District. The 3,000-square-foot homes have brick facades and aluminum siding and come with granite countertops, black appliances and hardwood floors.
MCL president Michael Maier tells Yo that six of the 10 homes are already sold and if they continue to sell strongly, he’ll consider building more detached homes in subsequent phases of the project. Phase one of Metro Place also includes 60 two- and three-bedroom simplex and duplex condos priced from the $260s to the $390s.