Chicago Condo Directory

The decision by Trump to rescind contracts on units bought during the initial round of sales to friends and family have left many people in an uproar.  However, many buyers who participated in that first round of sales have business connections with Mr. Trump that kept them from raising the issue in court.

However, former Chicago Sun-Times publisher F. David Radler and other buyers have decided that Trump’s decision to go back on the deal is a material breach of contract, and are now suing the developer to recover their units.

The units in question were sold at a significant discount to current market values, and would have meant a strong profit for those involved in the first round of sales.  The deal offered to friends and family included a benefit that allowed buyers to sell their units before the opening of the tower, and allowed buyers to put down a smaller deposit than later buyers.

The developer began notifying these buyers that their contract had been cancelled, resulting in a chorus of complaints from those who felt Trump had gone back on his contractual obligations.

The Trump tower is one of the most widely anticipated developments of Luxury Chicago Condos in the city.

Technorati Tags: Chicago Real Estate News, Trump Tower Condos, Chicago Condos For Sale

The developer responsible for Central Station has announced plans for a $4 billion development close to Soldier Field.  Jerry Fogelson of Fogelson Properties presented plans for a major new mixed-use community that will be built above the Metra tracks on the Near South Side.

Plans call for a hotel, residential space, and new offices in the neighborhood.  A total of 4,000 residential units would be built, according to the plans presented last week.

It is the largest new development announced for the Near South Side since the construction of Central Station, and promises to transform this once-forgotten corner of the city.  Plans also call for the construction of a 3,000-room hotel that would be strategically located next to McCormick Place.

Fogelson Properties will be working with Forest City Enterprises on the project, which has not yet been presented to city officials.  No timetable has been set yet for the construction of the new office, residential and hotel space.

The new project promises to add a number of new Chicago Condos to the popular neighborhood, and will continue to strengthen the neighborhood as one of the premier destinations for young professionals looking for affordable housing close to downtown Chicago.

Technorati Tags: Fogelson Properties, Near South Side Developments, Chicago Condos For Sale

If you’re in the market for a new preconstruction condo on the Near North Side, several developers are currently offering incredible deals on remaining units.

One of the most luxurious buildings currently under development in the area is 30 West Erie.  The developer, Schillaci Birming, is offering $25,000 in free upgrades and a free parking spot valued at $50,000 for buyers of the remaining four units.

Lennar Homes is offering a one percent reduction in the purchase price at the Park Huron.  Floor plans range from one to three bedrooms, and prices start at just over $300,000.

If you’re in the market for a penthouse unit, the Residences at Grand Plaza is currently offering from $40,000 to $100,000 in free upgrades.  There are a limited number of two-story units remaining at this popular development at 545 N. Dearborn Street.

With sales of Chicago Condos down around the city, many developers are looking to offer incentives as competition for buyers heats up.  Browse through the best new condo developments around the Near North Side as well as in other Chicago neighborhoods and find the perfect home for you and your family today.

Technorati Tags: Preconstruction Chicago Condos, Lennar Homes, Residences At Grand Plaza, Park Huron