By Leslie Mann

Not everyone longs for a colossal castle. Many first-time buyers, in fact, would just as soon have a compact condo, where they can hang their hats but not have to spend their weekends hanging blinds and wallpaper.

Although mini-condos (800 square feet or less) are hard to come by in the suburbs, they are plentiful in and around downtown Chicago. They include newly constructed units and those in rehabs of older buildings.

Like their larger counterparts, most of these minis come well-appointed.

Stainless-steel appliances, granite countertops and 42-inch-high cabinets are typical. Most developers include washers and dryers, or at least the hookups. Parking spaces are usually extra, although many developers offer free spaces in their initial promotions.

The mini-condos are appealing to suburbanites who want second homes in the city, including John McGowean of Northfield.

"This will be my Saturday night place," he says of the 600-square-foot studio he bought at The Chandler in Lakeshore East. It is located near the mouth of the Chicago River, facing Lake Michigan.

The developer, Magellan Development Group Ltd. in Chicago, plans to complete the building by the end of 2007, so McGowean is among the buyers who took advantage of pre-construction prices.

For $242,000, he got standard amenities that include hardwood floors, walk-in closet and a washer and dryer, plus some upgrades including higher-grade cabinets and countertops. That allowed him to buy a $40,000 parking space too.

Although Lakeshore East remains under construction, McGowean swears by his investment because of long-range plans for the rapidly developing area east of Michigan Avenue.

"Within the next 20 years, this will be a little city within the city," he said.

High on the list of amenities buyers demand in this market is security, said Barbara Frankel-Abrams, vice president of sales for Jameson Realty Group in Chicago. "Many of the buyers are young, so their parents want to make sure they are buying in buildings that are safe," she explained.

Jameson has many mini-condo projects in the works, including Eastwood Court Condominiums in Ravenswood Manor, Waverly on Wallen in East Rogers Park, and Paulina Ridge Court and Broadway Village Lofts in Edgewater. All are rehabs except Broadway, which is part rehab, part new construction. Prices range from $146,900 at Waverly to $239,900 at Broadway.

A notch up the price ladder is Jameson's new Jefferson Tower in the West Loop. Here condos range from 623 to 1,050 square feet and start at $255,800. Standard amenities include hardwood floors, ventless fireplaces, balconies and crown molding.

The West Loop also includes Terrapin Properties' new Madison 901, scheduled for completion in the summer of 2007. It has condos as small as 766 square feet that start at $253,900. Each unit will include floor-to-ceiling windows and a balcony or terrace.

The South Loop mini-condo lineup includes Printers Corner, a building that Winthrop Properties is slated to complete by the fall of 2007.

Its condos range from 743 to 2,290 square feet and start at $275,000. These have 10-foot ceilings, solid-core wooden doors and crown molding. Buyer Marina Verlinsky liked these standard inclusions, but she says her boyfriend appreciated the 42-inch plasma TV that Winthrop threw in.

Also in the South Loop is Dubin Residential's The Wabash Club, a new building scheduled to open in the summer of 2007. Its one-bedroom condos start at 800 square feet and $226,900. Perks include soaking tubs, hardwood floors and balconies.

Although developers report that most of the buyers of the mini-condos are young singles buying their first homes, these also are selling to empty-nesters from the suburbs who use these in-city pads on weekends.

The young buyers are no less sophisticated than the older ones, say the developers. They shop the Internet and pore over the newspapers, then trek from one development to another before signing on the dotted line.

Buyers can save money by purchasing a unit in a rehabbed building, which usually costs less than a similar unit in a new one. If they prefer new, buying early--during the pre-construction phase--lowers the price tag. In general, when it comes to a view, the lower the floor, the lower the price.

Verlinsky added: "Don't buy into a building with a lot of extras that you don't need because you'll pay for them in your assessments. I didn't need a hair salon or pool, so I didn't buy where I'd have to pay for them."

But the best part about buying a mini, she said, is "you don't pay for lots of space you don't need."