Chicago Condo Directory

June 8, 2009 - The latest Chicago real estate developer to advertise purchase perks for buyers is C.A. Development. The incentives include both mortgage breaks and unit price reductions on three of their projects. Those developments are the Residences of Old Irving Park, Edgebrook Glen and Mayfair Crossing, according to a recent article in the Tribune.

If you qualify to purchase a home at one of these developments, you can take advantage of the “Home Buyer Stimulus Program” where you’ll get a mortgage buy down which will reduce your interest rate to only 4 percent for the next two years. You can also opt to go for six months of free mortgage payments that include principal and interest or grab $15,000 for closing costs on one of the homes. Also, C.A. is willing to ink 5.5 percent interest rate jumbo loans to qualified buyers, according to the article.

Price reductions at some of these developments have been significant, with some $1.15 million homes now being listed for $535,000. The Residences of Old Irving Park website states that there are only two oversized lots left for sale for their single-family homes and that the decorated model is also currently for sale.

Edgebrook Glen on 5200 West Armstrong is a complex of 64 single-family homes with 13 different designs, located next to the Indian Woods Forest Preserve. Finishes include wood burning fireplaces, cherry cabinets, stainless steel appliances, granite counter tops, soaking tubs and attached two car garages.

At Mayfair Crossing on Kilpatrick Avenue you’ll find a group of homes that have from three to four bedrooms, 2.5 to 3.5 baths, 9′ ceilings, wood fireplaces, large kitchens and great rooms, soaking tubs and extra storage space.

You can also find some other great Chicago Townhomes in our development pages if none of these single-family homes and townhomes are what you’re looking for right now.

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