The last time we reported on The Winchester, GJB Development’s 12-story high-rise planned for 421 W Belmont Ave in Lakeview East, construction was expected to begin in August. Since then, the development has landed on a couple of our more unenviable lists, including “high-rise dustbunnies” and “construction-free zones,” but that doesn’t necessarily mean The Winchester should be counted out.
Deborah Greenberg from Koenig & Strey GMAC Real Estate says construction on the building is set to begin in March 2009. More than 30 percent of the 47 condos planned for The Winchester have been sold, according to Greenberg, and there are currently 30 remaining homes for sale. When Patrick wrote about the development last spring there were still 41 available units, so it looks like at least a few buyers have signed on over the summer.
As Patrick reported in March, the original building design was retooled to eliminate smaller units, and current plans call for all two- and three-bedroom condos. Greenberg says 942 to 1,463 square-foot two-bedroom condos with one or two baths are priced from the $380s to the $520s, and three-bedroom / 2.5-bath condos with 1,733 to 2,126 square-feet of living space are priced from the $710s to the $920s.
As a buyer incentive, the developer is currently offering a $5,000 gift card, Greenberg says.
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