Outdoor space, skyline views attract buyers to Lake Park Crescent
Lake Park Crescent residents have a sweeping view of Williams-Davis Park, a 2.8-acre space with a playground and passive areas, shown in this rendering. | SUPPLIED PHOTO
Imagine sipping a glass of wine with friends or family while watching an amazing sunset and taking in a million-dollar view of the stunning Chicago skyline.
At Lake Park Crescent, nestled in Chicago’s historic North Kenwood-Oakland neighborhood, this is the experience you could have almost any evening while enjoying your own private, nearly-400-square-foot rooftop penthouse terrace. But it won’t cost $1 million.
“Outdoor spaces are a key attraction at Lake Park Crescent,” said Gordon Ziegenhagen, vice president of Draper and Kramer, Inc., the developer. “Our Terrace Penthouse homes are now priced starting from $269,800 for a two-bedroom or three-bedroom plus-den, three-bath residence that showcases skyline and lakefront views.”
“The Lake Park Crescent CityHomes also feature large private outdoor spaces, a rarity for condo-dwellers,” said sales manager Robbi Davis. “These homes with abundant outdoor space have been very popular with buyers.”
Another nearby outdoor recreational amenity is the recently completed 31st Street Harbor. This jewel of the Near South Side features 1,000 boat slips, a marina and garage parking for 200 cars. The $103-million harbor also showcases the new Peninsula Park, a mini-park that extends into the lake, and a playground. Work also is complete on the new Burnham Park Beach and beach house at 40th Street.
Outdoor recreational amenities are key to the rising demand for real estate in North Kenwood-Oakland and, likewise, urban planners say much of the city’s future new housing will be built on the South Side’s lakefront.
“Lake Park Crescent and other housing built in close proximity to Lake Shore Drive will be in high demand and bring a continued renaissance to North Kenwood-Oakland and the entire Near South Side,” Ziegenhagen said.
With balmy summer days already here, Lake Park Crescent residents are looking forward to the upcoming dedication of Williams-Davis Park, which adjoins the Lake Park Crescent community on the east.
“Designed by the Bauer Latoza Studio, the 2.8-acre Williams-Davis Park at 4101 S. Lake Park Ave. is an exciting public outdoor space with a playground and passive areas,” said Ziegenhagen. The gateway to the park features Milton Mizenburg Jr.’s first bronze sculpture, named “Restoration.”
Plans also call for a sweeping, new footbridge to be erected from the center of Williams-Davis Park at 41st Street and span South Lake Shore Drive to Burnham Park and the lakefront.
Next year, the city plans to start construction on a $17 millon pedestrian bridge at 35th Street that would replace an existing span connecting the neighborhood to Burnham Park. A replacement span at 43rd Street also is planned to provide additional lakefront access.
Within a block of Lake Park Crescent is Mandrake Park, located between Pershing Road and Oakwood Boulevard. The park features one of the best walking tracks in the city along with baseball fields, outdoor basketball and tennis courts, and picnic tables with umbrellas.
“We recently learned that Mandrake Park soon will be upgraded with a synthetic ‘Field-Turf’ surface for even more active uses,” Ziegenhagen said.
“North Kenwood-Oakland is located just 10 minutes from Chicago’s Loop and is adjacent to Lake Shore Drive, Burnham Park and Lake Michigan,” he said.
Tucked along the lakefront between 35th and 43rd streets, the mile-square North Kenwood-Oakland neighborhood has a population of 5,900 people.
Once priced at $498,000, the new-construction duplex CityHomes at Lake Park Crescent now feature final close-out pricing starting at $229,800. One-bedroom CityHomes, once priced at $219,000, have just been reduced to $109,800.
“Over the past year, Lake Park Crescent has sold more than 20 units, making it one of Chicago’s best-selling developments,” said Davis, who noted that all of the community’s single-family Row Homes sold out in a four-month span, and only six one-bedroom and three-bedroom homes remain available.
All homes at Lake Park Crescent feature an open floor plan, chef’s kitchen with granite counters and stainless-steel appliances, hardwood floors in main living areas and carpeting in bedrooms. Master baths feature marble countertops and flooring.
Each residence also enjoys private outdoor space and most condominiums have one-car garage parking, plus a tandem outdoor parking space.
A new professionally furnished and decorated CityHome condominium model is now open for viewing at Lake Park Crescent, a 68-unit condominium and row-home community at 4012 S. Oakenwald Ave.
In addition to aggressive pricing, Lake Park Crescent also is offering special grants valued at up to $26,500 and a low-down payment and Federal Housing Administration-insured financing to make home ownership an affordable reality, Davis said.
Using an FHA-backed loan, many of the homes at Lake Park Crescent can be purchased with as little as $1,000 down.
“This is due to the down-payment assistance grant provided by the non-profit Find Your Place in Chicago program,” Davis said.
The Lake Park Crescent sales center just moved to its new location at 4012-1 S. Oakenwald Ave. and is open Saturday, Sunday and Monday from noon to 4 p.m. For more information call (773) 268-0400, or visit www.LakeParkCrescent.com.