August 28, 2010 - For those of you who might be interested in buying one of the remaining unsold Chicago condos at Aqua but haven’t had time to stop at the sales center, you can now check them out via your cell phone. A new marketing campaign for the Chicago real estate development has been launched and prospective buyers can use their smartphone to scan a barcode that is being displayed on a ground level window of the 82 story Lakeshore East high-rise.

The window ad states that you can text the word smartcode to number 313131 to download the application needed to scan the barcode on Aqua’s window if you have a Blackberry, iphone, Andriod or almost any other camera cell phone. Then you can view condo information, amenities, selling points and many other features of Aqua from your phone. It’s sort of like a virtual sales center.

If you are interested in Aqua condos and thought they were nearly sold out, there may be more available than you think. The 264 unit were said by Magellan Development to be about 82% sold, but there have been more condos listed lately from the developer. There are also quite a few investors listing units for sale. Prices on the studio to three bedroom condos are running anywhere from the high $200,000s to almost $2 million.

And remember that while they may not have a barcode to scan, there are lots of other New Chicago Condos for sale.

Technorati Tags: Aqua, New Chicago Condos, Chicago Real Estate

August 27, 2010 - Enough unhappy buyers have come forward to verify that Starwood Capital and ST Residential do not intend to honor the contracts for the Chicago condos that were pre-sold at Lexington Park. Earlier reports that deposits will not be returned in full have also been confirmed, as buyers who had an email contact on file with the companies were notified of the decision and told they have 30 days to agree to the terms and basically keep quiet about the whole deal.

Starwood and ST have stated that they will return the deposits with interest but minus 5%. The deduction was being called an administrative fee and now is tagged as a processing fee. Either way, it’s doubtful that the interest will cover the fee. Even if it does, buyers have lost a lot of time waiting on this financially troubled Chicago real estate development as well as lost out on the $8,000 tax credit.

It will be interesting to see how many buyers take the money and move on or if any decide to take legal action to get all of their earnest money refunded. If there was no drop dead clause in the sales contracts, it may be difficult to do. Generally developers are legally bound to deliver a home within a reasonable amount of time even if it isn’t specifically stated in the contract or the buyer has a right to cancel and request the return of his or her deposit.

The Lexington Park drama may continue for some time and is a reminder for buyers that the housing market still hasn’t recovered. But the bright side of that is that buyers can find some good deals on prices of Chicago short sales.

Technorati Tags: Lexington Park, Chicago Short Sales, Chicago Real Estate

August 26, 2010 - Even though Prairie District Lofts is a sell-out for the developer, there are still several units for sale in this South Loop Chicago real estate project. Along with the units at Chess Lofts that we talked about yesterday, Weichert Realtors, Frankel & Giles is marketing quite a few Priairie District Loft condos as well. This development is located on 1727 South Indiana Avenue in the historic Prairie District neighborhood, as the name of course implies. And for buyers who want traditional loft features, these condos may well be perfect.

The units have high ceilings, up to 20 feet, along with lots of brick and exposed timber and ductwork. Kitchens come with 1.25″ granite counter tops, 42″ cabinets and a stainless steel appliance package. The lofts have hardwood floors, oversized windows, a washer/dryer hook-up and balcony or deck. Building amenities include a fitness room, bike storage room and rooftop sun deck.

Some of the Chicago condos currently up for sale at Prairie District Lofts include the ones listed below.

1 Bed/1.1 Baths/ 1211 Sq. Ft./ $233,800
1 Bed/1.1 Baths/ 1211 Sq. Ft./ $233,800
1 Bed/1.1 Baths/ 1211 Sq. Ft./ $233,800
1 Bed/1 Bath/ 1579 Sq. Ft./ $262,800
2 Beds/2 Baths/ 1501 Sq. Ft./ $324,800
2 Beds/2 Baths/ 1822 Sq. Ft./ $355,000
2 Beds/1 Bath/ 983 Sq. Ft./ $229,800
3 Beds/4 Baths/ 2026 Sq. Ft./ $499,900
3 Beds/2 Baths/ 1537 Sq. Ft./ $339,800

There are other great Chicago lofts for sale right now as well, so be sure to shop around to find the best prices, amenities and condo finishes.

Technorati Tags: Prairie District Lofts, Chicago Lofts, Chicago Real Estate