Newport Condos in Kenwood
Newport Condos - Kenwood Chicago
The Newport Condos complex in Kenwood is one of my favorites.
The high rise towers sit right across from the beautiful Lake.
The north building has unobstructed views of the famous Chicago
skyline. The south building also has great views of the lakefront.
Real estate values at the Newport Condos have been hit hard by the
Great Recession. Many units have been sold due to foreclosure.
This has caused selling prices to drop consistently over the last few years.
But, on the flip side, if you are a buyer, this is a great time to pick up
a condo in an excellent location with awesome lake views. This is a full
amenity building. The building was constructed in 1963. It sits near 48th
and Lake Shore Drive. Each tower has 27 floors. All together, there are 728
condos at this complex.
REAL ESTATE VALUES
During the 24 month period ending NOV 11 2012, a total of 17 condos were sold.
Selling prices ranged from $33,500 all the way up to $205,000. The only downside
with this building is the high assessments. It is not uncommon for 2bed/2bath unit
owners to pay $700 per month on assessments. The assessments usually include
Parking, Security, Doorman, TV/Cable, and Landscaping.
But, even with the high assessments, I feel that units in this building are under valued.
You really can’t put a price on panoramic views of the lakefront and skyline.
If you are thinking about buying or selling in the Newport Condos Complex,
please contact me. I would be happy to assist you!
Until the next time,
Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!
Visit me online: www.773property.com
