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Condo Project Slated Near City Limits

CHICAGO-With buyers being increasingly priced out of the Oak Park condominium market, GenOne Group thinks it will have a tempting project in its 27-unit Corcoran Condos just across Austin Avenue.

By Mark Ruda | Updated on January 09, 2005

CHICAGO-With some condominium buyers being priced out of neighboring Oak Park, GenOne Group thinks it will have a hot property in its 27-unit Corcoran Condos, spread over three sites in the 5800 and 5900 blocks of W. Corcoran Avenue. The properties are on the first two blocks east of Austin Avenue, the city limit.

“This represents one of the first new condominium developments in Austin,” says Marty McCarthy, project manager for GenOne Group, which will pay the city $370,000 for lots at 5843, 5907-09 and 5937-45 W. Corcoran Ave. The land sale, at fair market value, was recently endorsed by the community development commission.

“I’m very pleased to have a developer willing to risk its own money on a project of this sort,” says 29th Ward Alderman Isaac Carothers. GenOne Group, a partnership that includes Brad Anthony and David Doig, is seeking no financial assistance from the city for its $4.2-million project.

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