February 8, 2010 - According to the latest press release, 235 Van Buren has managed to sell over 450 of the 714 Chicago condos in the high-rise. This 47 story tower is a CMK Companies Chicago real estate development and is also FHA approved, according to a Tribune article.

Scott Hoskins of CMK was quoted in the article as saying that, “At 235 Van Buren in January, CMK Realty secured 11 new sales contracts, and about 265 closings have been completed to date. Many of the first-time buyers are young singles.”

The condo layouts are studios and one to two bedroom units. The residences come with oak hardwood floors, granite counter tops, stainless steel appliances, 10′ ceilings and usually have a terrace or balcony.

With over 130 floor plans you may want to visit the 14 models open for touring. The high-rise also has a 24 hour doorman and a dog run.

The studios start at $179,000 and the one bedroom, one bath condos start at $211,900. For a two bedroom, two bath unit you can expect to pay from $289,900 and the penthouses run from $349,900 and up. There are 522 single parking that run an additional $31,900 to $36,900. For the 50 tandem spaces you’ll pay between $51,900 to $56,900.

If 235 Van Buren isn’t exactly what you’re looking for, be sure to check back here with us for up to date information on other affordable Chicago homes.

Technorati Tags: 235 Van Buren, Chicago Homes, Chicago Real Estate

February 6, 2010 - Right now Chicago real estate developer Marquette Companies is reducing prices at Front Street Lofts in Lemont by at least 50%. A price slash of that much is about equal to what you’d expect to pay at auction, or in the case of their advertising slogan, “Better than a foreclosure sale.” So if you’ve been considering purchasing a Chicago loft, you might want to take a closer look at this development.

There is a total of 82 residences at Front Street lofts. You can opt for a townhome with one or two floors or go for the soft loft design. There are 4 five story low-rise buildings where the lofts are situated above stree level retail space. Layouts include everything from studio units to one to three bedroom floor plans. The townhomes and lofts have from 723 to 2,192 square feet, so you can get as little or as much living space as your lifestyle needs.

For a one bedroom loft at Front Street you can now expect to pay from $119,000 and up. Old list prices on those units ran anywhere from $199,000 to $265,000. Previously the two bedroom, two bath and two story open lofts were marketed between $357,000 and $385,000 but are now being offered from $179,000 and up. And the two bedroom, two story open soft lofts are currently priced from $189,000 and up. Those residences were listed from $355,000 to $454,000. Front Street Lofts are FHA approved as well, so that’s another plus.

You can find other Chicago Condo Lofts with deep price cuts right now, so do some comparison shopping and see which ones offer the most for your money.

Technorati Tags: Front Street Lofts, Chicago Condo Lofts, Chicago Real Estate

February 5, 2010 - The latest Chicago real estate auction to be announced is for 13 Chicago condos at Prairie Point. This 24 story development is located on 1600 South Prairie Avenue in the South Loop. According to an article in the Tribune and information from Inland Real Estate Auctions, 12 of the 13 Chicago condos up for bid are scattered through the 11th and 21st floors and are fully finished. The auction is set for March 14th and will take place at the Chicago Hilton on 720 South Michigan Avenue. Plan to get there at 1PM to register. Bidding will start at 2PM.

Developer Gammonley Group completed Prairie Point around 4 years ago. The units had been marketed for between $389,600 to $1.82 million. Opening suggested bids at the auction are starting at $189,000. The article goes on to say that financing will be provided by Wells Fargo for the remaining condos with investor financing programs and owner-occupants.

One of the condos is an unfinished 2,800 square foot penthouse with 900 square foot terrace located on the 24th floor. This unit is being auctioned with a reserve.

Condo finishes include hardwood floors, granite kitchen counter tops, fireplaces and a high-end appliance package. Building amenities include a 24 hour doorman, sundeck with jacuzzi, fitness center, business center,valet and nearby park with a dog walk.

Open house dates are February 20th from 12PM to 3PM, February 28th from 1PM to 4PM, March 3rd from 5:30PM to 8PM, March 7th from 1PM to 4PM, March 10th from 5:30PM to 8PM and March 13th from 12Pm to 3PM.

Pencil in the open house dates and check out these condos if you’re interested. And as always, check back here for more information about Chicago auctions and short sales.

Technorati Tags: Prairie Point, Chicago Auctions, Chicago Real Estate