One-bedroom units at the Wyndham Club will start around $100,000, about $60,000 less than the average price of a single-family home in this northwest suburb of Chicago. "We've created a niche in the marketplace, filling a need for affordable housing for first-time homebuyers, busy professionals, empty nesters or those in the market for maintenance free living," says Frank Laraia, on-site project manager for Midwest Real Estate Equities.

The company recently completed a conversion in neighboring Arlington Heights.

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