Exactly five years ago today we wrote about a six-unit condo development at 2701 W Chicago Ave in West Town. The broker was touting it as “one of the most exciting developments in the area” and was “most excited about Unit 2N, which had access to a large deck off its living room.
The 3-bedroom, 2-bath Unit 2N sold for $375,500 in March of 2009 and resold for $385,000 a little over a month ago. The recent purchase was financed by a 95% loan-to-value mortgage for $365,750.
Our five-year ago post mentioned the “recently-opened NXXT Restaurant & Bar, a restaurant that features a $12 burger and is widely recognized as a harbinger of gentrification in the area (if you trust what they write on Centerstage, that is).”
NXXT closed shortly after our post. The evidence for gentrification in the immediate area along Chicago Avenue is mixed, at best.