Three homes remain at Lake Park Crescent, nearing closeout
Condominiums at Lake Park Crescent in the North Kenwood-Oakland neighborhood, is offering reduced prices on one- and three-bedroom homes as it approaches closeout. Shown are a kitchen, and model foyer and living area. | SUPPLIED PHOTOS
With only three homes remaining for sale at Lake Park Crescent the North Kenwood-Oakland neighborhood, the developer, Draper and Kramer, Inc., has reduced pricing one last time.
Once priced at $498,000, new-construction three-bedroom CityHomes at Lake Park Crescent now feature final closeout pricing starting at $219,800. One-bedroom CityHomes, once priced at $219,000, have just been reduced to $99,800.
With more than 27 units sold in the past year, Lake Park Crescent, nestled in Chicago’s historic North Kenwood-Oakland neighborhood at 4012 S. Oakenwald Ave. on the Near South Side, is one of the best-selling condominium developments in Chicago.
“For a price that only a few years ago bought a one-bedroom, unit you can now purchase a three-bedroom residence. It’s like getting two free bedrooms,” said Robbi Davis, sales manager at Lake Park Crescent.
“We’ve reduced prices to rock-bottom levels to ensure a quick sellout,” said Gordon Ziegenhagen, vice president at Draper and Kramer.
Tucked along the lakefront between 35th and 43rd streets, the mile-square North Kenwood-Oakland neighborhood has a population of 5,900 people.
“North Kenwood-Oakland is located just 10 minutes from Chicago’s Loop and is adjacent to Lake Shore Drive, Burnham Park and Lake Michigan,” Ziegenhagen said.
One of Chicago’s jewels is the recently-completed 31st Street Harbor. The new harbor, located within walking distance of Lake Park Crescent, 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.
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. New pedestrian bridges at 41st and 43rd Street are also planned to provide additional lakefront access.
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 counters 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 open for viewing at Lake Park Crescent, a 68-unit condominium and row-home community.
In addition to closeout 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 explained.
The Lake Park Crescent sales center is 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.