Most of the units will be one-bedrooms, as Keating hopes toreach the first-time and single homebuyer markets in an area thatincludes the University of Illinois-Chicago and the hospitalcomplex.


"It's important for young professionals, students at UIC, andemployees at the area hospitals to have an opportunity forhomeownership in this neighborhood," says Keating Development Groupvice president Keith Keating.


Besides Keating's nearly sold-out Platinum Tower at 700 W. VanBuren, its latest development will compete against units beingbuilt on the opposite corner at 933 W. Van Buren St. by Palatine,IL-based Concord Homes. There, 180 loft condominiums are beingbuilt. However, those units range up to three bedrooms, and$366,559 in price, targeting the move-up market.


"Many buyers who purchased loft conversions in the West Loopjust a few years ago are now seeing a return on their investmentand are purchasing move-up homes in the neighborhood," says ConcordHomes executive vice president Roger Mankedick.

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