Old Irving Park – The Residences: Offering Financing Deals, Chicago History

June 03, 2009
The Residences - Old Irving Park

The Residences - Old Irving Park

CA Development has announced financing incentives for its single family home developments on Chicago’s northwest side.  Barbara O’Connor of Koenig & Strey, the developer’s exclusive broker and well publicized wife of Alderman Patrick O’Connor of the 40th Ward, announced the following developer incentives worthy of Chicago real estate news:

  • A mortgage buy-down for qualified buyers that drops the interest rate to 4 percent for two years
  • A 3-2-1 mortgage buy-down where the interest rate will be 3 percent below the current rate for the first year, 2 percent for the second year, then the third year it goes to the current rate
  • Six months of free mortgage payments, including loan principal and interest on conforming loan
  • A $15,000 closing credit on immediate occupancy homes or on new homes planned for Edgebrook Glen and Mayfair Crossing

Ideal for raising your kids in the city, the final two estate homes on over-sized lots are available for these great financing offers.  CA Development’s commitment and quality single family homes it’s built in the Old Irving Park and Portage Park neighborhoods is well known.  What might not be known to many is the history of what business once occupied “The Village Homes” location on Irving Park and Kilbourn.

From the 1940’s to the early 1970’s, car afficienados might remember an at-the-time famous and very visable Chevrolet dealership.  The land that occupies the “Village Homes” development was once the location for gearheads around the country to buy and build some of the coolest muscle cars of the 1960’s: Nickey Chevrolet (with the backwards K, for those of you who remember the radio jingle).

The omnipresent marketing of their Chevrolet cars is difficult not to forget for anyone who grew up in Chicago at the time or enjoyed sports car racing which Nickey sponsored. Nickey Chevrolet was a mega dealer before the term was invented.  The news of General Motor’s filing for bankruptcy this past Monday provides some indication of the struggles both the auto and home building industry have faced in these tough last couple of years.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

Leave a Comment