Bruce Fogelson's development company, Paramount Homes, has a reputation for building "transit-oriented" developments near CTA rail stations. A couple of those developments are still in the planning stages, but Bucktown Point (formerly "Bucktown Station") has been ready for occupancy for almost a year now.  

Just two three-bedroom condos are available in the 15-unit building, because most of the other 12 homes have been rented, Fogelson says. Although renters are required to sign formal buyer contracts, and rent isn't accumulated towards a down payment, Fogelson still refers to the rental program as “rent-to-own,” because he anticipates that some of the renters will ultimately purchase their homes.  

"If you’ve got a project called 'Bucktown Station,' it’s not too hard to see the next train coming," Fogelson says of his rental program. "I’ve been ahead of most trends for as long as I can remember."  

From the corner of Western and Winnebego avenues in Bucktown, it’s pretty easy to see the next CTA Blue Line train coming, because the Western station is just steps from Bucktown Point’s front door. The noise of passing trains won’t be a distraction, though, because Paramount installed thermal pane windows, which provide increased sound and heat insulation.  

For those who prefer to drive, the building comes equipped with 20 garage parking spaces, one of which is included with each purchase. For buyers who use cars less frequently and don’t feel the need to own their own, two cars from the ZipCar car sharing service are stationed behind the building. Fogelson added electric outlets to the garage that could be used to charge electric cars, if such a product ever makes it to the market.  

Bucktown Point’s condos come with a standard package of oak hardwood floors, granite countertops, stainless-steel appliances, marble bathroom floors, Kohler or Grohe fixtures, gas fireplaces, and washer / dryer hookups. All of the homes have private outdoor balconies  

All of the remaining homes in Bucktown Point have three bedrooms, 2.5 or three baths, and 1,600 to 2,400 square feet of space. Prices range from the $530s to the $590s. Monthly assessments are estimated at $75 to $150 per month.  For more information, call 773-656-1120.