A new townhouse ordinance has made it harder for developers to cram large number of units onto small parcels of land. This has resulted in fewer townhome developments and higher prices for the ones that do hit the market. They include two or three bedrooms, fireplaces, private roof decks, granite kitchens and marble master baths in a fairly urban location. Single-family homes take up more space than either townhomes or condos and are by their nature less efficient from a builder's perspective. In most neighborhoods, then, it makes sense for builders to stack these units as close to the high end of the spectrum as they can.
Deals do exist, however.
They have two to four bedrooms, 1.5 to 2.5 baths, two-car garages and 1,429 to 2,314 square feet. It's fair to say that no comparable North Side deal exists, which brings us to the most important factor not only in starter homes but in all real estate - location. And the closer to the lake you are, the higher the prices get. The Northwest Side offers much lower prices than neighborhoods to the east, but until recently not much has been available there. Now, a fair number of conversions and even some new construction projects are popping up all over the Northwest Side.