Prices Slashed at Chicago Real Estate Development

August 08, 2011

A Chicago real estate developer is offering new condos and town homes at up to half off their original price tags.

Holsten Real Estate Development Corp. has cut the prices on the remaining 27 market-rate and two affordable homes at Parkside of Old Town, a mixed-use development on West Division Street in Chicago.

A Parkside condo.

A Parkside condo.

Parkside of Old Town is a new mixed-income residential community that features more than 760 residences on 18-plus acres. Bordered by Division and Oak Streets, it is a prime location between River North and Old Town neighborhoods on Chicago’s Near North Side.

To give you an idea of the new low prices, here are three models currently available:

*1-bedroom, 1-bathroom condo: Was $259,900, and is now $155,040.

*2-bedroom, 2-bathroom condo: Was $379,900, and is now $229,500

*2-bedroom, 2-bathroom town home: Was $599,900, and is now $321,300.

A Parkside townhome.

A Parkside townhome.

Some condos have more than 1,200 square feet of living space, and all units feature hardwood floors, granite countertops, stainless steel kitchen appliances and designer bathroom fixtures.

Condo owners also have the use of a professionally equipped fitness center at their disposal.

The town homes offer three stories and up to 2,300 square feet of living space, plus one- or two-car garages and optional roof decks.

This development is FHA-approved, which means that potential homeowners can purchase a home here with as little as 3.5 percent down.

Buyers can also take advantage of Find Your Place in Chicago, which offers $10,000 grants through the Partnership for New Communities. The money can be used as a down payment, for closing costs or to reduce the price of the home even further.

To visit the sales center and see models of the homes, visit 1158 N. Cleveland, Chicago.

For more information visit or call (312) 496-3633.

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