I discovered this six-unit graystone at 705 N Milwaukee Ave while looking at a couple of new-construction developments in River West in August. Between Mondial, Marquette Row and 1217 West Augusta, more than 200 new-construction condos have been introduced to the neighborhood in the past couple of years, but 705 Milwaukee is the only gut-rehab currently listed on NewHomeNotebook.com.
All six homes in the development are still for sale, according to Rubloff agent Mark Urkovich. “It’s in that price range where young people are having a hard time getting a loan,” says Urkovich. Another factor that might have buyers thinking twice is an unusual floor plan that has bathrooms located off the kitchens.
Prices start in the $230s for the 800 square-foot one-bedroom / one-baths, and the most expensive 1,000 square-foot two-bedroom / one-bath is priced in the $280s.
Urkovich says the development is “geared towards anyone who wants to live near the highway and the city.” The Chicago Blue Line station is two blocks to the north, and an on-ramp to the Kennedy Expressway is just three blocks away.
The developer of 705 Milwaukee also converted the red brick building at 701 N Milwaukee Ave to condos, Urkovich says. Once a few of the homes in 705 Milwaukee are sold, the developer plans to convert a building to the north to 12 condos.
NewHomeNotebook:
• Rate and review 705 Milwaukee
• View our list of River West condos