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Obama neighborhood lures condo buyers
June 30, 2009

First-time condominium buyer Angelia Gill recently traded a rental apartment in the West Loop for a new-construction condominium in North Kenwood a few blocks north of President Barack Obama’s Chicago address.

“I choose North Kenwood because I wanted to live in a neighborhood with an ethnic and racial mix that was close to the lake and had a neighborhood feeling,” said Gill, a senior project management specialist for Pepisco.

Gill recently bought a new 3-bedroom condominium with 2 baths at Lake Park Gateway II, a 23-unit luxury development underway at 1223-1249 E. 46th St.

Builder Mitchell Newman, principal of Stratagem Home Builders, which is developing Lake Park Gateway II, said North Kenwood has recently emerged as a destination for buyers looking for a lakefront neighborhood with a suburban flavor.

President Obama has lived in the Kenwood neighborhood since 2005 and his presence has given the area added prestige, Newman said.

“I learned that Obama takes the same exit turn off on Lake Shore Drive that I take now,” said Gill, who recently moved into new condo.

Residences at Lake Park Gateway II are designed to fulfill the dream of what condominium buyers want-an expansive living/dining room, a beautiful and well equipped kitchen and a master bedroom large enough to fit a king-size bed with two bedside tables, Newman said.

All of the residences feature brick and limestone facades with 5-foot brick side wraps. Other standard interior amenities include: 9.5-foot-tall ceilings; camera front-door answering system; Colonial-styled baseboard and door and window trim; in-unit washer and dryer; solid two panel doors; individual heating and air-conditioning systems.

The location of Lake Park Gateway II also was a lure for Gill. The development is two blocks from Lake Michigan and Lake Shore Drive and nearly two blocks from a bus and Metra stop.

“I can get to work in 15 minutes,” Gill said.

The first stage of Lake Park Gateway II, nearing completion on 46th Street less than two blocks from Lake Michigan, features 16 units in two 8-unit brick and stone condominium buildings designed by architect Alex Polichuk of Atelier 7.

Two-bedroom and 3-bedroom units with 1,380 to 1,500 square feet of space range in base price from $249,900 to $349,900. Nine units are available for immediate delivery. Three units are closed, three more are under contract and another contract is pending.

Plans for the second phase of Lake Park Gateway II call for construction of a 3-flat condominium building and a 4-flat condo building on an adjacent parcel of land, Newman said.

He noted that novice buyers at Lake Park Gateway II also may take advantage of the first-time buyer tax credit, which does not have to be repaid. For an appointment to tour the new Lake Park Gateway II furnished model condominium at 1231 E. 46th St., please call Michelle Browne at Rubloff Residential Properties at 312-980-5100, or visit http://www.stratagemhomebuilders.com/.

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