We mentioned the other day that loft developments are shifting west to neighborhoods like Avondale because downtown land prices are so expensive and the stock of convertible buildings is being depleted.
Another such development is McKinley Park Lofts, in the southwest neighborhood of McKinley Park. But this time it’s not yuppies, but teachers, police officers and firefighters who are moving in.
That’s according to developer The Habitat Co., the real estate company that undertakes both market-rate and affordable housing projects across the city.
While McKinley Park Lofts will be a market-rate project, it is fairly reasonably priced because of its peripheral location. Units are priced from the $170s for a one-bedroom and a two-bedroom plus den costs in the mid $300s.
The city’s teachers, cops and firefighters, like many people, find it increasingly difficult to afford Chicago’s rising housing prices, but it is important to have them living in the communities they serve.
The blue-collar McKinley Park neighborhood is close to train and bus links, there are some neighborhood stores catering to bread and butter needs and a few restaurants have trickled in over the last few years.
But the biggest draw card would have to be the park that the neighborhood takes its name from. It’s on the other side of West Pershing Road from the loft development and has basketball courts, tennis courts, play fields and a lagoon.
That’s a pretty decent front yard, we think.