Monthly ArchiveNovember 2008

chicago-condos pcherry on 29 Nov 2008

$200,000 Condo to be Raffled in Naperville

November 29, 2008 - Everyone loves getting something for practically nothing, and the possibility of getting a $200,000 condo or $150,000 in cash for the cost of a $50 raffle ticket would be a pretty good return on your investment. The contest is being held to support the Institute for Community and Naperville Responds Katrina Relief organizations. So if you are open to the idea of living in Naperville, you may want to pick up a ticket on the chance that you’ll win.

In this drawing, the condo slated as the grand prize is a two bedroom, two bath model at The Ponds of Naperville development on 1333 South Modaff Road. The final drawing for the condo will be held on April 27, 2009 at the Naperville Area Chamber of Commerce. The condo or $150,000 cash is dependent upon the sale of at least 7,500 tickets. If fewer are sold, the profit after expenses for the raffle will be split 50/50 between the winning ticket holder and the charities.

If ticket sales are met, after the grand prize drawing the second place prize will be $10,000. Third place will get $5,000 and fourth through eighth place wins $1,000 each.

Early bird prize drawn on December 18th 2008 is a 3 day, 2 night trip for two to New York City and on March 10th 2009 is a 3 day, 2 night trip for two to Napa Valley.

You can purchase a ticket for the drawing at The Ponds of Naperville and Ryan Hill Realty in Naperville, Institute for Community At HighPoint in Romeoville and The Towers at Four Lakes in Lisle.

It isn’t always the developers who get creative when it comes to Chicago Real Estate. There are all kinds of deals to be found right now on condos in Chicago and the surrounding area.

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chicago-condos & Chicago Real Estate pcherry on 28 Nov 2008

Upcoming Auction For 34 McKinley Park Lofts

November 28, 2008 - There is another developer auction for Chicago condo lofts that you may want to pencil in on your calendar for next month. Rick Levin is handling the sale of 34 units in McKinley Park Lofts. The development is located on 2323 West Pershing Road but the actual auction will take place at the Hyatt Regency-McCormick Place on Martin Luther King Drive at 6:30 pm, December 9th.

There has been a lot of press about the auction, so you may want to check out the open house on the units at this Chicago real estate development in advance. You can drop by for a tour on November 30th or December 7th from 11am to 1pm. It would be a good time to take a look around the condo lofts and see if you’re interested.

Of those 34 that are up for auction, 12 will be sold absolute, which means they will sell no matter what price they bring. The condo lofts had topped out at $370,000 but bids are opening at $85,000. The development has 163 units total, and layouts run from one to three bedrooms. Finishes are high-end, with hardwood flooring, carpeted bedrooms, washer and dryer hook-ups, gourmet kitchens with stainless steel appliances, maple cabinets and granite counter tops plus marble baths. Building amenities at McKinley Park Lofts include decorated lobby, mailroom, fitness center, bike storage space and individual storage lockers plus outdoor parking in a private space.

We’ll keep you updated on all the latest new about Condos In Chicago and any auctions on the horizon.

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chicago-condos pcherry on 26 Nov 2008

Price Reductions at The Marquee and 1720 S Michigan

November 26, 2008 - A couple more Chicago condo developments are lowering prices on their remaining units. There are about two dozen units Sedgwick Properties is trying to sell out in The Marquee and if you didn’t get in on the live for free all summer offer, you can take them up on their guarantee of appreciation offer. It basically amounts to a 3% discount off the list price of the unsold condos in the 25 story high-rise. There are a total of 208 units in the tower and the ones that are available vary from one bed and bath condos to three bed and bath units. The bulk of the condos up for sale are mostly two bedroom, two bath residences though.

The one bedroom units start in the mid $200,000s and the two bedroom condos run from the mid $300,000s. The bigger three bedroom units that are left can run as much as the mid $900,000s.

Another Chicago real estate development that has cut prices is 1720 South Michigan. Developer CMK has dropped prices on their remaining units in the 33 story tower, possibly to compete with flippers. The 498 condos are almost sold out, but you can find a one bedroom unit here for as little as $199,000. They go up to the mid $200,000s, and you can also pick up a two bedroom, one bath condo for the mid to upper $200,000s to low $300,000s.

We’ll keep you posted on all of the latest new about price reductions, auctions and incentives for Condos In Chicago. The deals may keep coming as developers try to clear out inventory before the year is over.

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