chicago-condos & Chicago Real Estate pcherry on 23 Mar 2010 03:04 pm

Lower Prices At Lake Park Crescent

March 23, 2010 - For those of you who love price cuts and incentives, Lake Park Crescent may be a Chicago real estate development that fits both bills. When completed, Lake Park Crescent will have a total of 68 row homes and Chicago condos on South Oakenwalk Avenue.

An article in the Tribune states that qualified buyers can get a one bedroom unit for only $1,000 down with an FHA loan. For the three bedroom duplex units available, a $2,000 down payment and FHA mortgage are possible for qualified buyers.

Gordon Ziegenhagen, who is the project manager for Lake Park Crescent, said in the article that if buyers can sign a purchase agreement by April 30th they may be able to score up to $28,000 in grants from the Partnership for New Communities, tax credits and closing cost bonuses.

The one bedroom condos are now priced from $169,800 which is down from the old starting price of $220,000. The three bedroom duplex units that were priced from the $500,000s now start at $309,800.

There are four terrace units ready for move-in. Those include two bedroom with den floor plans that run from $449,000 to $478,000. There are also three bedroom plus den layouts with 400 square foot terraces that are priced from $525,000 to $533,000.

There are also 10 rowhomes for single-families that are ready for occupancy now. The homes have between 2,714 and 2,794 square feet, four bedrooms and 3.5 baths. These units are priced from $559,000 to $666,000 which is considerably lower than the previous prices of about $800,000.

Check back here often for more updates about price reductions on Chicago condos for sale.

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