Deals offered on last two Lake Park Crescent homes

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The Chicago skyline in the evening is depicted in this rendering, showing the kind of panoramic view available to residents at Lake Park Crescent from their private 400-square-foot terrace. | SUPPLIED PHOTO


The developer of Lake Park Crescent has just announced the release of two model units to the market with final closeout pricing.

Buyers who act quickly have an opportunity to purchase one of the last two homes remaining for sale at Lake Park Crescent, a 68-unit condominium and row-home community in the North Kenwood-Oakland neighborhood.

“We’ve sold more than 30 homes in the past 18 months at Lake Park Crescent and are pleased to offer amazing pricing on these final two units,” said Gordon Ziegenhagen, vice president at Draper and Kramer, Inc.

The last new-construction two-bedroom-plus-den Terrace Penthouse at Lake Park Crescent is now final-closeout priced at $239,800. This unit was once priced at $568,000.

The price on the last one-bedroom CityHome, originally listed at $219,000, has been reduced to $99,800.

Lake Park Crescent is one of the best-selling condominium developments in Chicago.

“Since these two homes were used as models, they are two of the best units in the development,” said Robbi Davis, sales manager at Lake Park Crescent. The two-bedroom Terrace Penthouse features a nearly 400-square-foot private roof terrace with sweeping views of the lakefront and downtown.

“It’s simply spectacular,” said Davis.

Both remaining 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 one-car garage parking, plus a tandem outdoor parking space.

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, each of these 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.

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 the City’s jewels is the recently-completed 31st Street Harbor. The new harbor, 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.

The Lake Park Crescent sales center is located at 4063-1 S. Lake Park Ave. and is open Saturday, Sunday and Monday from noon to 4 p.m. For more information, call (773) 268-0400, or visit