A search at Coldwell Banker Online for new construction condos under $400k in ZIP code 60614 (Lincoln Park) turns up just one unit, a 2 bedroom, 2 bath in the $390s. A garage space is $15k extra.
The unit is at 1937 W. Diversey Ave, on the outer fringe of Lincoln Park. Despite its Lincoln Park ZIP code and address, the broker is marketing its location as “Lakeview.”
For just under $350k you can find a 2 bedroom, 2 bath new condo at 1358 W. Belmont Ave, just across the street from Lincoln Park and, arguably, in a much better location. Garage parking there will set you back an additional $25k.
The units are similar in size. So, what accounts for the price differential?
Update: I should know better by now than to rely on brokers to code new construction accurately in the MLS. Rubloff has 2/2 units under $300k for sale at 1610 W. Fullerton.