After the locally owned grocery store Ed’s Way was demolished last May, 10 townhomes were built on the property at 946 Beloit Ave.
Nearly a year-and-a-half later, the townhomes started the first of their certificate of occupancy inspections last month, according to Mehdi Mova, principal agent and a team founder at Compass. Mova said he and his team started showing the townhomes this summer and have since closed on one and another is under contract.
“One of the highlights of the project was having a large group of Ed’s family come in and view the townhomes,” Mova said of the owner of Ed’s Way. “Of course, it was a melancholy experience, but they seemed proud of the work we had done.”
Each townhome is nearly 2,300 square feet and has three levels with three bedrooms and two-and-a-half bathrooms. The townhomes are being sold for a range of price points from $599,000 to $675,000.
“Our goal is to be competitive with a recently sold-out townhouse project in Forest Park that had prices from $599,000 going as high as $725,000,” Mova said. “Our median price is still in the low 600s, which provides competitive pricing for the area, but with great value and luxury.”
Mova said that the project developer partnered with a lender to provide incentives for buyers that will increase the townhomes’ affordability.
The new homes in Forest Park are located across the street from Field-Stevenson Elementary School and blocks away from the Park District of Forest Park — an accessible location, even when the property was still Ed’s Way.
“Ed’s Way was a pillar of the community, and we recognize it is missed,” Mova said. He added that the townhomes’ development team sees Forest Park as a suburb of opportunity.
“We hope to get a few buyers from the neighborhood in our beautiful complex,” Mova said.
