Dec
02

Lexington Park: It’s Cheaper to Buy Than Rent

December 02, 2011

chicagoland real estate in des plainesIf you live in Chicago, it is time to kiss your landlord goodbye and buy an new home. In many instances, Chicago real estate is now cheaper to buy than to rent. The Rowhomes of Lexington Park built by Lexington Homes is one of these communities. Located in the greater Chicagoland area, Lexington Park is near downtown Des Plaines and just 10 minutes away from O’hare.

Lexington Park offers 149 townhomes,priced from $239,900 to $264,990.  The community offers three different floor plans  and three-story homes have two or three bedroom, 2.5 baths and attached two-car garages.

For skeptical renters, here is how the numbers break down: If you purchase a home for $239,990 and make a 3.5 percent down payment (the minimum allowed by the FHA), then your down payment will be $8,400. With a 30-year fixed rate interest rate of 4 percent, your monthly payment will be around $1,405, including tax escrow and PMI. This compares very favorably to rent in the area.

There are three decorated models available to tour at Lexington Park. Sales center hours are from 10 a.m. to 6 p.m. daily. For more information about Lexington Park, call 847-299-0500 or visit www.lexingtonchicago.com.

A premier name in Chicago real estate, Lexington Homes is one of the city’s most successful builders. In the past four decades, Lexington Homes’ real estate development team has built more than 40,000 homes in Chicago and surrounding suburbs, solidifying its reputation for excellence and innovation in homebuilding.

Categories: Cook County, New Homes

About The Author

Read All Stories By Carol Morgan

Carol Flammer is a public relations and social media marketing expert, strategist and consultant. With 20 years of experience, Carol has established herself as the “go to” for real estate and construction products public relations and social media. Carol is president of Flammer Relations, Inc., and managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Atlanta and Chicago.

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