"The market has slowed down, and it's still slowing down forus," McHugh tells GlobeSt.com. "But it's better than expected.Lakeview's a good neighborhood with easy transportation and astrong entertainment corridor."

The five-story building was constructed on the site of a formerBurger King, which McHugh purchased from private owners in December2005 for about $1.5 million. Construction on the site began inDecember 2006. Sixteen of the units have already been sold, withfive others remaining available. One unit will be maintained as amodel condo in anticipation of the company's construction of asimilar condo building in the future, at a site directly to thenorth of Vue, according to McHugh. He says there is no timelineestablished for this neighboring development, and that the currenteconomy may delay its start.

The condos offer residents floor-to-ceiling windows, privatebalconies, penthouse roof decks and heated parking. McHugh says thedevelopment also features 2,400 sf of retail space on thebuilding's first floor, which is currently 50% leased to ChicagoBody Works, a chiropractic and massage spa. Asking lease rates forthe space are around $30, net, McHugh says.