Vermilion Development will begin sales for Alcove M.D.P., its newest condominium and townhome development in Chicago. Located at 1648-1650 Division Street and adjacent to a new mixed-use rental development, Alcove M.D.P. will bring 43 condominiums and 12 townhomes to the heart of Wicker Park. Named for its coveted location between Milwaukee (M), Division (D) and Paulina (P), Alcove M.D.P. will begin pre-sales in early April with deliveries slated for late 2019.
“The timing of this project couldn’t be better as we’re entering the condominium market just as it’s starting to heat up again—giving buyers more options for new construction,” said Dave Cocagne, president and CEO of Chicago-based Vermilion Development. “As many renters are making the move to homeownership, the condominiums and townhomes at Alcove M.D.P. will be a much-needed addition to this popular neighborhood that is currently underserved for new-construction homes of this caliber.”
Buyers can choose between two-, three- and four-bedroom condominium floor plans ranging from 1,400 to 2,400 square feet and priced from $600,000 to $1.1 million. The townhomes will offer four- and five-bedroom floor plans ranging from 2,900 to 3,400 square feet and priced from $1.1 million to $1.3 million. In a strategic partnership, Luxury Living Chicago Realty and ON Collaborative, Coldwell Banker’s development sales and marketing firm, will be co-listing and co-marketing the property.
“Alcove M.D.P. will be the first large-scale condo development project in Wicker Park since 2007 and certainly the most unique with a highly curated sensibility,” said Aaron Galvin, founder and CEO of Luxury Living Chicago Realty. “We’ve worked with Vermilion on leasing Viridian on Sheridan, its new luxury apartment building in Lakeview, and know first-hand how much the firm goes the extra mile to design well thought-out, high-end homes that appeal to sophisticated city dwellers. And because of their size and extra wide layout, the townhomes in particular will be a draw for those who want a maintenance-free alternative to single-family homes in this area.”
Upscale finishes will include Viking appliances, imported Italian cabinets, wide-plank hardwood flooring and quartz countertops. The seven-story condominium building has a shared rooftop patio with seating and grills, plus extensive private outdoor terraces for each unit. Condominiums come with one parking space, while the townhomes have an attached two-car garage.
Located just a block away from the CTA Blue Line stop, Alcove M.D.P. is also nestled among the numerous restaurants and boutiques of Wicker Park. The property will also feature a landscaped plaza providing pedestrian access between Milwaukee, Division and Paulina.
“While we’re seeing pent-up demand for new for-sale product across the city, homes near public transit—especially those with direct access to O’Hare International Airport and downtown—are by far the most popular for busy professionals,” said David Wolf, president of ON Collaborative. “With Alcove M.D.P., residents have a unique opportunity to live in one of Chicago’s most bustling and creative neighborhoods. Plus, with the proposed Target adjacent to the project, things don’t get more convenient. That’s something to think about for long-term appreciation.”
The sales center for Alcove M.D.P. will offer a full complement of finishes and designer options, as well as virtual reality technology so buyers can better visualize the finish options available to them or tour the development from multiple points as if they were standing in the completed building.
Vermillion has partnered with Chicago-based Hirsch Architects to design Alcove M.D.P., while Ma’am Design Collective is handling interiors and the finish selection process for buyers. Maris Construction will oversee construction.