Since cutting prices by 15 to 30 percent four months ago, Belgravia Group has sold 50 new homes at 565 Quincy. Those sales represent 40 percent of all new-construction sales in the downtown market and almost 80 percent of new-construction sales in the West Loop since the turn of the new year, according to Appraisal Research Counselors.
565 Quincy’s lofts and condos now range in prices from the $150s to $350s. Most units come with a garage parking space. The building is approved for FHA-backed mortgages, allowing buyers to purchase a condo with a 3.5-percent down payment. Units are available for immediate occupancy, so buyers should have no problem closing on a unit prior to June 30, the deadline for federal tax credits for first-time and repeat buyers.