Buy a stylish new South Loop condo for less than rent

Set aside a few minutes to explore the benefits of purchasing a new, move-in ready condo at 1345 Wabash in the South Loop, and you’ll like what you find.

Unit 802, a 2-bedroom, is priced at $297,900. With a 10% down payment, a mortgage of $268,110 at 4.375% with lender-paid PMI, monthly assessments and property taxes of $283 and $397, respectively, your total out-of-pocket payment is $2,019 a month.

Income tax benefits will vary with individual circumstances, but are likely to reduce your effective cost of ownership by several hundred dollars a month.

A variety of flexible financing options, including low down payment loans, are available through 1345 Wabash’s preferred lenders.

Substantial monthly savings aren’t the only benefit of ownership. The condos at 1345 Wabash have a loft aesthetic with high ceilings, hardwood floors, exposed concrete ceilings and beams, open spaces, large windows, private balconies and designer finishes.

One-bedrooms at 1345 Wabash currently start at $233,900 and two-bedrooms at $297,900.

1345 Wabash has a stellar, pedestrian-friendly South Loop location, with destination restaurants on the same block and scores more within a few minutes’ walk. The CTA transit hub at Roosevelt Road, Jewel-Osco and Trader Joe’s are just over a block north.

The 1345 Wabash sales center is open on-site, and furnished models are available for viewing.