CA Development has sold all but four homes at Edgewater Square, a 27-unit project in a neighborhood where new single-family home developments are rare.
The popularity of the lakefront neighborhood and prices that are much lower than those in areas to the south also have been big factors in the project’s success, according to Paul Bertsche, vice president of CA Development. For example, a four-bedroom 3.5-bath home on the north side of Rosehill is base priced at $689,900.
“In Lincoln Park, it would probably be $1.5 million,” Bertsche said. “So the prices are 20 percent to 50 percent less at Edgewater Square, and the savings is measured in hundreds of thousands of dollars.”
Base prices on the remaining homes range from the $650s to the $790s. All have four or five bedrooms, 3.5 baths and garage parking.
Twenty homes at Edgewater Square, 1600 West Rosehill, are under roof with mechanicals and windows being installed, according to Bertsche.
“We expect to close on all 27 homes at Edgewater Square this year,” Bertsche said. “Most of the residences will be delivered between August and December. Edgewater Square will have been completed, from start to finish, in 19 months.”