Ravenswood Manor is one of those rare neighborhood jewels coveted by Chicago's who want to escape the din of city life while remaining close to the action.

The well-preserved pocket, which runs from Montrose to Lawrence and from the Chicago River to Sacramento, has the large brick homes, lush greenery and family atmosphere you would expect in a place called 'the Manor," but without the pretensions. Some of the homes in the $500,000 range are nothing less then palatial, and even the smaller houses and two-flats are stylish and well constructed.

But, with an average single family home price of about $200,000, Ravenswood Manor has been inaccessible to most first-time home buyers. That inaccessibility was the inspiration behind the Vines of Ravenswood, a 12-unit condo conversion at 3001 W. Wilson.

"Most homes in the neighborhood are very costly and people want to live here but can't afford it," says Marla Mason, who is partners with her brother Mark Olshansky in JMM contractors, Inc., developer of the vines. "we chose Beliard, Gordon & Partners for sales because (real estate agents) Bette Bleeker and Mary Nack sell more property in this neighborhood than anyone. They have a lot of customers who want to buy here but can't find anything in their price range."

The vines of Ravenswood is well priced for the first-time buyer, with two and three-bedroom units ranging from $99,500 to $139,500. The completely rehabbed condos include many of the best features of vintage construction - refinished hardwood floors, built-in bookcases, decorative fireplaces and enclosed sun rooms.

"it's a building we've been looking at for years, thinking we'd love to buy it," Mason says of the 1920s red brick structure that takes its name from the blanket of vines that covers it. "We were trying to contact the owner through tax records when a 'for sale' sign went up."

Mason and her brother gutted the building, replacing mechanical systems and installing new drywall, kitchens and baths. The units include washers and dryers, new high efficiency windows, eat-in kitchens, restored oak floors, mini-blinds, appliances, ceramic kitchens and baths and a common exercise room. Parking spots are not included, but Mason says street parking is never a problem in the uncongested enclave.

"Most of our buyers are young first-time buyers from Lakeview and Lincoln Park who are drawn to the affordable price and to the neighborhood," Mason says. "They are amazed to see that you can actually park in front of your house, and Ravenswood Manor isn't as transient as Lincoln Park or DePaul."

Mason herself moved to Ravenswood ten years ago and says her friends have since changed their opinions about the area.

"When I moved here, everyone said I was out of my mind, but I told them it was a nice, pretty neighborhood," Mason says. "now, everyone I know lies in Ravenswood."

Ravenswood Manor is convenient, with el stops at Rockwell and Kedzie and the Kennedy Expressway a mile and a half west. Albany part to the west has some of the city's best Asian food, while Ravenswood, to the east, has the remains of it's German roots in quaint bakeries, taverns and cafes.

JMM Contractors has rehabbed dozens of units in the neighborhood, both rentals and condos. The brother - sister team works well together, according to Mason, dividing the labor according to their specialties.

"It works out real well," says Mason, who worked as an interior designer for 15 years. "Mark runs the crew and oversees the day-to-day operations, while I do design work, meet with engineers and do the paper work."

At press time, construction of the vines of Ravenswood was underway and a model unit had been completed. First occupancy was scheduled for the end of March.