Chicago Condo Directory

March 9, 2010 - The developer closeout sales and price reductions just keep coming for lots of Chicago real estate projects, and once they start they seem to stick around for a while. In the case of Catalpa Gardens in Edgewater, the recent price cuts have resulted in only 10 unsold units of the 126 there in the eleven story mid-rise. Catalpa Gardens is located on 1122 West Catalpa Avenue, and according to a recent profile in Chicago Magazine you may want to get motivated soon if you’re interested in purchasing a condo there.

The condos at Catalpa Gardens are all ready for occupancy and each unit purchased comes with a free parking space in the garage. Last spring units at the development had been priced for $50,000 to $100,000 more than they are being listed for right now. In May of 2009 the condos were lowered from over $300 pre square foot to their current price of below $200 per square foot. That price point must have appealed to buyers because over 50 sales contracts were signed after the cuts, according to the article.

Right now the 1,100 square foot two bedroom condos are being marketed from $210,000. The old base price started at $250,000. For a larger two bedroom condo with 1,408 square feet the new base price is $290,000 which is down from the old base price in the $400,000s.

Be sure to check back with us often for all the latest updates and price reductions on Chicago condos for sale .

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