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CHICAGO-McHugh Development & Construction has completed the $6.3 million Vue Condominiums in Lakeview. The 22-unit development was constructed at 3505 N. Ashland Ave., and is now about 73% occupied. The condos range in size from 900 sf to 2,100 sf in two and three-bedroom units, which run from $350,000 to $700,000, according to Paul McHugh, president of the self-named firm.

“The market has slowed down, and it’s still slowing down for us,” McHugh tells GlobeSt.com. “But it’s better than expected. Lakeview’s a good neighborhood with easy transportation and a strong entertainment corridor.”

The five-story building was constructed on the site of a former Burger King, which McHugh purchased from private owners in December 2005 for about $1.5 million. Construction on the site began in December 2006. Sixteen of the units have already been sold, with five others remaining available. One unit will be maintained as a model condo in anticipation of the company’s construction of a similar condo building in the future, at a site directly to the north of Vue, according to McHugh. He says there is no timeline established for this neighboring development, and that the current economy may delay its start.

The condos offer residents floor-to-ceiling windows, private balconies, penthouse roof decks and heated parking. McHugh says the development also features 2,400 sf of retail space on the building’s first floor, which is currently 50% leased to Chicago Body Works, a chiropractic and massage spa. Asking lease rates for the space are around $30, net, McHugh says.

Summit Design + Build LLC performed the onsite construction of the project. Hartshorne Plunkard Architecture designed the development, which is being marketed by David Wolf of @properties.

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