Location, location, location

THE HIGH LIFE Soaring ceilings? Fancy kitchen? Lake views? Yup, Catalpa Gardens has ’em covered.

Photo: Shmura Campbell

Edgewater

The appeal
Its edgy yet family-friendly vibe is ideal for those who want the best of both worlds.

The inside scoop
Close to the El, the beach and Broadway Armory Park (the Chicago Park District’s largest indoor recreational facility and home to year-round city-sponsored sporting events), this Far-North neighborhood attracts families looking for a child-friendly area that’s close to restaurants and bars. Thanks to upscale boutiques and cool coffeehouses (including home-decor shop Marrakech Treasures and Metropolis Coffee) and gay-friendly nightlife in nearby Andersonville, the area also lures hip young buyers.

“Edgewater is one of the few places where you can get a reasonably priced condo and still have access to new restaurants, shops, even dog boutiques that already-popular neighborhoods have had forever,” says Mario Greco, a broker associate with Rubloff Residential Properties.

In addition to a number of smaller residential projects, the Granville, an 11-story high-rise with 160 condos and four floors of retail space, is being built on the 6200 block of North Broadway.

What $250K will get you
You can land a swanky one-bedroom, one-bath in a prime spot (either with a lake view or in the heart of Edgewater nightlife) or a new two-bedroom, two-bath on a more residential street, Greco says. Though the El ride is 40 minutes from Edgewater to downtown, a long commute is a small price to pay for tons of space at a relatively cheap price. But act fast: The Chicago Association of Realtors reports that in the past three years, the median price for a single-family home in Edgewater has risen more than 13 percent.

HOT PROPERTY

Catalpa Gardens, 1122 W Catalpa Ave: $199,000–$364,900

In addition to indoor parking, exercise facilities on the top floor and an on-site dog-walking area, this 11-story complex featuring one- and two-bedroom units also includes a one-year buyer’s warranty for any construction-related issues. Expect granite countertops, hardwood floors and, for pricier units, private balconies overlooking the lake. 773-293-3100; catalpagardens.com.