Harbour Point Estates, the last Chicago trailer park, could be converted into single family homes, condominiums, and retail space. Plans call for the conversion of 130 acres into as many as 960 homes.
The property is located in the Hegewisch area to the southeast of Chicago. This property is one of the largest parcels of land that can be developed in Chicago, and completion could take years.
Hegewisch has not had a sale of a condominium since 2001, when one unit was sold. The tiny neighborhood also has a small real estate market for single family homes.
The neighborhood saw a total of nine single family homes sold during the second quarter of 2007. This is down from 12 during the same period of 2006, but remains small when compared to other parts of the city.
The average sales price for a home in the neighborhood has leveled off at $151,933, down slightly from 2006, according to the Chicago Association of Realtors.
Final plans will depend on the demand for homes in this quiet corner of the city, separated from downtown Chicago and the south side by marshland.
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