Monthly ArchiveJuly 2009



chicago-condos & Chicago Real Estate pcherry on 24 Jul 2009

Prices Still Reduced At Metropolitan Tower

July 24, 2009 - Metropolitan Tower on 310 South Michigan Avenue is still advertising their “final closeout pricing” on the remaining unsold Chicago condos in the high-rise. These new prices are said to be for a limited time only, but when it comes to Chicago real estate developments, the limited time offers often stay on the table for quite a while.

The development website lists the following units and prices:
Unit#1610 - 1BR/1Bath, city view, was $369,900 now $269,900
Unit#505 - 1BR/1.5Bath, park view, was $629,600 now $499,900
Unit#602 - 2BR/2Bath, park view, was $719,900 now $539,900
Unit#603 - 2BR/2Bath, park view, was 719,900 now $539,900
Unit#1201 - 2BR/2Bath, 1,270 SF, lake view, was $789,900 now $599,900
Unit#1204 - 2BR/2Bath, 1,252 SF, lake view, was $819,900 now $599,900
Unit#1501 - 2BR/2Bath, 1,270 SF, lake view, was $819,900 now $599,900
Unit#2203 - 2BR/2Bath, penthouse, was $769,900 now $599,900
Unit#1105 - 3BR/2Bath, 1,401 SF, lake view, was $919,900 now $649,900
Unit#902 - 3BR/2.5Bath, 1,585 SF, lake view, was $919,900 now $649,900

Interior finishes for the condos at Metropolitan Tower include up to 11′ ceilings, crown molding, oak hardwood flooring, carpeted bedrooms, Woodmode cabinets, GE washer, dryer and kitchen appliances, walk-in closets, granite counter tops plus individual heating and cooling controls. The tower has a 24 hour doorman, sun deck, indoor parking, storage lockers, fitness center and event room.

It doesn’t look like many sales have been made since these new Metropolitan Tower prices went into effect, but if you’re looking for Downtown Chicago Condos you may want to check out these units.

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chicago-condos & Chicago Real Estate pcherry on 23 Jul 2009

Mortgage Modification Event Set For This Weekend

July 23, 2009 - If you are one of the many Chicago home mortgage holders who are having difficulty keeping above water, then you may want to reserve a spot to attend the “Save The Dream Tour” sponsored by The Neighborhood Assistance Corporation of America. The event starts tomorrow (July 24th) and runs through July 27th from 9AM to 8PM at the McCormick Place North on 2301 South Lake Shore Drive. It isn’t required, but you may want to register for a spot in case there is a large turnout. You can do that by calling 1-888-499-6222, according to an article in the Sun Times.

The NACA is offering free assistance in mortgage modification and for qualifying persons, can modify immediately. The article stated that this non-profit national organization has previously been able to reduce some interest rates as low as 2%. They will have around 250 counselors there to assist Chicago real estate owners and representatives from several lenders, including Fannie Mae, Wells Fargo, JP Morgan Chase, Bank of America and Countrywide will also participate.

There are several documents you will need to bring with you. Those include your most current property tax bill, mortgage statement, last two bank statements, 30 days worth of pay stubs or some other proof of your income, proof of your homeowner’s insurance plus a letter explaining why you need help.

This could potentially be a lifesaver for Chicago condo or homeowners who are facing foreclosure. Even those who own New Chicago Condos and are concerned about their mortgage rates might benefit from attending this four day event.

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chicago-condos & Chicago Real Estate pcherry on 22 Jul 2009

Large Chicago Condo Auction Set For Early August

July 22, 2009 - If you still have Chicago real estate auction fever, pencil in August 9th on your calendar because that’s when the next Rick Levin condo auction will take place. You could even find yourself a landlord with all the potential profits and pains that come along with the title because three 3 to 4 unit condo buildings are being auctioned as well, with minimum bids between $85,000 and $600,000.

Other units being sold are a mix of condos, townhomes and single-family homes. There are several being sold absolute, meaning that the highest bid no matter what that is will take home the prize. You’ll need to get a brochure from Levin in order to know what amount of a Cashier’s Check is required in order to register to bid on each property as the amount varies. The auction itself is being held at the Oak Brook Marriott on August 9th with registration at 10AM and bidding to start at 11AM. Open houses for the properties are July 19th and 26th plus August 2nd from 11AM to 1PM with another on August 6th from 5PM to 7PM.

Some of the listings include condos on West Gunnison that were listed between $309,900 and $416,000 with minimum bids of $145,000 to $165,000. Townhomes on West 64-65th Place that had been priced at $300,000 will have opening bids of $95,000. In Beecher there will be townhomes sold with a minimum bid of $45,000 and Glen Ellyn townhomes are up for grabs with an opening bid of $195,000.

If you don’t find anything that interests you at this Chicago condo auction, remember that right now there are lots of new Condos In Chicago with price discounts.

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