Sales have begun on a condominium development at 71st Street and Oglesby Avenue in Chicago’s South Shore neighborhood.
Sota LLC, comprising Poter Construction and Development of Chicago and Alliance Property Group of Los Angeles, will build 27 condos ranging from 1,200 to 1,300 square feet with two bedrooms and 1 1/2 to two baths, according to Gary Poter, who heads his company.
The three-story walkup building will consist of nine pods of three units — a ground-floor simplex unit with a patio and two duplexes above with decks, Poter said.
Designed by FitzGerald and Associates Architects, Chicago, the building will be of masonry and stone and have detached garages, Poter said. Each unit will have one garage space, which is included in the condo price, he added.
Base prices for the simplexes will range from $265,400 to $285,400, and duplexes will range from $289,560 to $315,560, according to Margie Smigel, broker/owner of MetroPro, the Hyde Park-based real estate firm that is marketing the units. Three units will be sold affordably for $200,000, according to Poter.
First deliveries are expected next fall, Smigel said. A sales center has opened at 2304 E. 71st.
“South Shore is an emerging market that’s very stable, and I believe that people are being priced out of Hyde Park and Woodlawn” as well as the North Side, Poter said.
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Poter, who has other projects in South Shore and other nearby neighborhoods, said he is actively looking for other property on the South Side.
The condos, whose addresses will be 2306-40 E. 71st St., are at the 71st Street Metra stop and near the South Shore Cultural Center and Lake Michigan beaches.