"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.