October 29, 2008 - For those of you who are in the market for a new home for both you and your car before winter really sets in, The Columbian on 1160 South Michigan is still throwing in a free parking space with the purchase of a two bedroom condo. Earlier in the year we told you about this offer, which then only applied to a select few units at the time, but now you can park for free no matter which two bedroom condo you purchase.

The Columbian is divided into three types of floor plans. The Boulevard condos are located seven per floor on floors 9 through 32. There are five Tower homes per floor on levels 33 through 39. There are three Penthouse homes per floor on floors 40 through 44 and only two units per floor on levels 45 and 46. The upper level homes come with three 24 foot terraces for some great views of the city, Grant Park and lake.

This 46 story building started first closings back in mid 2007 and at the time it was about 70 percent sold. There are still quite a few Chicago condos for sale from both the developer and flippers or investors, and it took about a year from the time of first closings to first foreclosures in the tower. Those who bought a unit in this Chicago real estate project hoping to turn a quick profit were derailed by the market slump. Currently, the two bedroom condos coupled with the free parking space from the developer are about 1,230 to 1,800 square feet and vary in price from the mid $400,000s to as much as $1 million. The parking space is valued at $42,000.

We may see more end-of-the-year discounts and incentives as developers try to sell out remaining inventory in Chicago New Construction Condos.

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This entry was posted on Wednesday, October 29th, 2008 at 2:02 pm and is filed under Luxury Condos(t) . You can leave a response.