If you’re in the market for a luxury condo, but don’t want to trade in a life on the North Shore for downtown Chicago, check out the luxury condominiums available at Meadow Ridge in Northbrook. The project is the latest by KZF Development, a company that has been building quality homes in the Chicago region since 1987.

This development offers a number of large duplex and townhome units, with floor plans ranging from 2,200 square feet to 3,500 square feet. Amenities include a gourmet kitchen with a GE stainless steel appliance package, granite countertops, and 42-inch cabinets. Residents also enjoy a powder room, laundry room, and nine-foot ceilings throughout the first floor.

Each unit has been designed to maximize energy savings, keeping monthly utility bills to a minimum. Each unit comes with energy-efficient vinyl windows. Plenty of parking is available, ensuring that you’ll never have to worry about finding a space.

This gated community is steps from the New Willow Festival Center, Five Seasons Country Club, and plenty of restaurants, shopping, and entertainment. Commuters can get downtown within minutes via I-94. This development is one of the premier new condominium projects currently available on the North Shore Chicago Real Estate market.

Technorati Tags: Chicago Real Estate, North Shore Condos for Sale, Meadowbrook Condominiums, Northbrook Real Estate

The real estate market around the country has been hard hit by an increase in foreclosures. Easy credit to underqualified buyers led to a marked rise in the number of homes in foreclosure, and this is now putting pressure on prices in the hardest hit markets around the country.

According to data from the data from the Associated Press, the hardest hit areas are in Nevada, California, Colorado, Florida, and Arizona, which have all seen high rates of foreclosures in recent months.

Banks and lenders who made the loans are facing pressure to get back as much as their original investment as possible, leading many to accept deeply discounted prices for foreclosed homes. The percentage of homes sold in Nevada under foreclosure quadrupled to 17.5 percent in 2007.

The areas hardest hit by foreclosures are generally lower income neighborhoods, due to the lax requirements from banks and lenders for underqualified buyers during the past few years. However, even some expensive developments are seeing the effects of foreclosures, particularly in markets that have experienced a rise in speculative developments, such as Las Vegas and Phoenix.

The Chicago Real Estate market has seen a marked increase in foreclosures. However, the area has not been as hard hit as other markets around the country. According to the Chicago Association of Realtors, the average sales price for homes sold around the suburbs rose by four percent during the third quarter.

Technorati Tags: Chicago Homes For Sale, Chicago Real Estate, North Shore Chicago Real Estate News

The condo market in Northbrook appears to have leveled off during the third quarter. According to a report from the Chicago Association of Realtors, a total of 56 condos were sold in the neighborhood during the third quarter, a drop of just one unit from the same period in 2006.

However, despite the stabilization of the market, the number of unsold condos in the area increased during the quarter. If you’re selling a condo in Northbrook, it will now take you an average of 145 days, a huge increase from the 81 days it took to sell a condo in the neighborhood a year ago.

Lower prices in the neighborhood could work to increase demand for Northbrook condominiums. The average sales price during the third quarter was down by 3 percent from the same period in 2006.

If demand for condos in Northbrook increases in the short term, prices in the area could start to recover.

If you’re looking for great deals on North Shore Chicago Condos for sale, take advantage of lower prices for units around Northbrook. Browse through the best units on the market today and find the perfect home for you and your family.

Technorati Tags: Chicago Real Estate For Sale, Northbrook Condo Market, North Shore Chicago Condos