When we last looked in on Eastgate Village, a troubled condo / townhome development that abuts the Stevenson Expressway connector to Lake Shore Drive, we noted that a block of 26 units had sold for $4.1 million, two-thirds below their original price.
Chicago Real Estate Daily is reporting that the 26 units will go to auction in December.
According to the Sheldon Good auction site, 10 of the units will be sold subject to minimum bids of $80,000 to $270,000. The auction site doesn’t even remotely describe the scene I visited Tuesday afternoon:
Presenting a great opportunity to live in a brand new Chicago neighborhood, one that feels more like an inviting village, with tree-lined streets, shady sidewalks, and neighbors whose name you know.
There’s no shade to be had from the sparse population of immature trees. The immediate surroundings include an expressway, a busy McDonald’s, parking lots and Mercy Hospital. You might very well get to know your neighbors’ names, however, if you step out onto your balcony.