Chicago New Condominiums
Chicago new condominiums
Chicago is known for its incredible skyline which contains many of the most famous buildings in the world such as the Sears Tower and the Hancock building but it is also known for some of the most beautiful condos in the Midwest. Chicago’s new condominiums offer some of the most beautiful views of the city from the lakefront to the Chicago River to the Loop.
¦lt;br /> There are literally hundreds of condos to choose from at almost any price. There are several major developments currently going on downtown and many developers are rolling out new incentives for pre-construction Chicago condos. Some developers are offering credits as high as $30,000 toward furniture as well as the services of a professional interior designer who sign up before a deadline. Others developers are offering a wide range of incentives from free parking spaces to options on floor plans at no cost and price guarantees.
Sales for condos had fallen in the last quarter of 2008 but overall inventory numbers are starting to come down citywide. This is good news for condo owners and developers looking to sell. Average turnover time is around 5 months but that is improving each month as we go into the new year but patience is still the byword for the Chicago real estate market. Listed below are many of the developments currently going on in Chicago:
• 1720 and 1819 S Michigan Avenue in the South Loop
• Emerald Condominiums in Greektown
• Waterview Tower Condominiums on Wacker
• Glashaus Condos on Wabash
• 235 Van Buren Condominiums
• The Chicago Spire
• Odyssey Lofts on West Jackson
• Park Kingbury Lofts on North Kingsbury
With the Chicago condo market about to take off there is no better time to start looking. Interest rates are low and pricing is the most reasonable in years with developers and sellers offering incentives to make their units stand out. That is why choosing the right Real Estate Agent to represent and market your property is a smart move. Your agent will review with you the different kinds of listing agreements or sales contracts and recommend the structure that would work best for your marketplace and property. But no matter who you choose, always look for these four parts in the agreement.
1. Timing – duration of the agreement should be clearly stated
2. Compensation – fee structure and payout
3. Cancellation – What happens if you wish to cancel the contract
4. Disputes – How will disputes be handled.
The agreement is an important document. Read and understand all sections and if you don’t ask a real estate professional or attorney.
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