Since September, the City of Chicago and the Partnership for New Communities have offered $10,000 grants to buyers at select developments throughout the city. For 15 days this month, the partnership will boost those grants by $5,000 apiece for homes at five new-construction developments.
Between April 15 and 29, buyers at Lake Park Crescent (above) and Oakwood Shores in Oakland, Park Boulevard in Bronzeville, Parkside of Old Town on the Near North Side, and Roosevelt Square in University Village will receive $15,000, according to a new media release.
There’s no income restriction for the grants, but buyers can only apply them toward homes priced between $150,000 and $450,000. Additionally, first-time buyers can take advantage of this year’s $8,000 federal income tax credit, and Harris Bank is offering as much as $1,500 in closing costs for 30-year, fixed-rate mortgages with 3-percent down payments.
According to the Find Your Place in Chicago Web site, the inventory and prices of qualifying homes at the five participating developments include:
- Lake Park Crescent, 4020 S Oakenwald Ave: One- and three-bedroom condos from the $190s to $450s (Rate and review)
- Oakwood Shores, 3744 S Cottage Grove Ave: Two- and three-bedroom condos and three-bedroom townhomes from the $230s to the $370s (Rate and review)
- Park Boulevard, 47 W 35th St: Two- and three-bedroom condos from the $160s to $400s (Rate and review)
- Parkside of Old Town, 465 W Division St: One- and two-bedroom condos from the $260s to $440s (Rate and review)
- Roosevelt Square, 1200 W Roosevelt Rd: One- to three-bedroom condos from the $250s and two-bedroom townhomes from the $430s (Rate and review)