January 27, 2012 – Those of you who get your fix from exposed timbers and concrete might want to check out the units that are still available at Van Buren Lofts on 1224 West Van Buren. Ever since Foxford Development bought a block of 52 condos in this 183 unit Chicago real estate development, trimmed prices and upgraded finishes, 15 lofts have sold according to a profile in Chicago Magazine.

There are still 37 lofts for sale from Foxford Development. The remaining unsold one bedroom, 1.5 bath lofts with 1,100 square feet start at $174,900 and the two bedroom, one bath lofts are priced from $199,900. Free indoor parking is included. Those prices reflect the 30% to 40% price cuts.

All of the condo lofts come with 10′ to 12′ ceilings, 4″ plank hardwood floors, carpeted bedrooms, a balcony, spiral ductwork, washer and dryer. The baths sport porcelain tile, a custom vanity with under-mount sink and Moen faucets. Kitchens have customs cabinets, quartz counter tops, tile backsplash, Moen faucets and Bosch stainless steel appliances.

Building amenities include a doorman, club room, rooftop deck, individual resident storage lockers and an exercise room.

You can tour the furnished models at Van Buren Lofts on Mondays and Wednesdays from 11am to 6pm or on weekends from 12pm to 5pm. Remember that there are still a lot of Chicago lofts and Chicago condos advertising price reductions, so compare perks and prices to find the best deal.

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January 21, 2012 – The Chicago real estate development that Lennar Homes is probably best
known for is Library Tower. But even though that high-rise is just about sold out, the developer is having another promotion for several of their other new home communities. It’s the Buy New/Buy Now promotion and ad slogans state that everything is now everywhere and you can get a new home priced from the $100s.

Buyers who sign a purchase agreement by January 31, 2012 on one of the select Chicago condos or home included in the promotion can get $5,000 in free upgrades and a 30 year fixed-rate mortgage with Universal American Mortgage Company with a 3.5% down payment. You have to close by February 29, 2012 and have a minimum credit score of 640.

Lennar is also still promoting their Everything’s Included offer. With the purchase of a select condo or home, buyers get a washer and dryer, energy-efficient furnace and AC, crown molding, staggered cabinetry, home automation system and CleanSteel appliances.

Some of the Chicago area Lennar Homes include Bridgeview Townhomes, Trafalgar Woods townhomes in Morton Grove and Kerry Ridge townhomes in Chicago Ridge.

If you don’t find what you’re looking for in any of those developments, check out some of these Chicago condos that are available.

Technorati Tags: Lennar Homes, Chicago Condos, Chicago Real Estate

January 14, 2012 – If you’re looking for a family-friendly townhome in Bridgeport, then you may want to check out Lexington Square. There are 39 townhomes (or rowhomes as you might call them) in this suburban Chicago real estate development and according to a recent press release, many of the buyers are younger couples with children.

The complex is located on 3630 South Sangamon Street in Bridgeport and buyers can pick from two different floor plans. Sizes range from 2,216 to 2,507 square feet. The three story suburban Chicago townhomes come with three bedrooms, 2.5 baths, a rooftop deck and attached two car garage. You can opt for more bedrooms or bath, but the base prices start at $390,000.

The townhome association plans activities throughout the year and there is a park across the street, which is great for kids and dogs.

The press release points out that townhomes all come with a fenced front yard, oversized balcony off the kitchen, 42 inch maple cabinets, granite kitchen counter tops, GE stainless steel appliances, hardwood floors and granite or marble vanity tops in the baths.

There are still townhomes available for purchase at Lexington Square, so you may want to schedule a viewing if you’re interested. Or you can check out some of these other Suburban Chicago condos that are for sale.

Technorati Tags: Lexington Square, Suburban Chicago Condos, Chicago Real Estate

January 8, 2012 – If you’re a do-it-yourself kind of person, there is an unfinished Chicago condo at the John Hancock Building that may be calling out your name. It’s pretty big project, having around 1,740 square feet. It also has a lot of original materials from a renovation started in 2007 that will have to be removed and trashed, according to an article in Chicago Magazine. A couple of big perks of this condo are that the ceilings are now 14 feet high and the unit boasts some great views from it’s 92nd floor perch. The asking price is $959,000.

The condo on the 91st floor that is listed for $1.2 million is finished. According to the article, this condo did have three bedrooms but was converted into a two bedroom unit. It features a remodeled kitchen, maple hardwood flooring, new heating system and great views.

If you don’t have that much time, energy or cash, there are some more affordable Chicago condos available in other towers, so check back with us for the latest information on pricing and developer deals.

Technorati Tags: John Hancock Building, Chicago Condos, Chicago Real Estate

December 31, 2011 – For quite a while we were hearing about Chicago real estate developments that were either hit with foreclosure or had to file bankruptcy, but the trend seemed to have slowed down a bit. But now Crain’s is reporting that 1555 Wabash is the latest to experience financial trouble. The high-rise was developed by a group headed by former Alderman Ted Mazola, according to the article.

With only 35 condos (20%) of the total 176 units in the 14 story tower closed, the development group has filed for Chapter 11 bankruptcy. The condos that weren’t sold have been rented, according to the report. But that move must not have generated enough revenue to keep the venture afloat financially.

The article also states that a construction loan of $46.2 million was taken out in 2007, although the bank hasn’t filed a foreclosure suit on the development.

Appraisal Reasearch Counselors commented in the article that there have been quite a few South Loop condo towers that have either been converted to rentals or sold to investors. As of the end of the third quarter this year (2011), 41% (844 units) of the unsold 2,066 new Downtown Chicago condos were located in the South Loop. And that’s probably why buyers can still find some serious price cuts on those Chicago condos.

Technorati Tags: 1555 Wabash, Chicago Condos, Chicago Real Estate