Front Street Lofts in Lemont cuts prices in half on remaining homes

If you subscribe to the Time Out Chicago or Chicago Agent mailing list, you probably found this ad in your inbox this morning:

Ad for Front Street Lofts in Lemont, Illinois

“Better than a foreclosure sale”? Hey, what isn’t?

Everything I know about the Front Street Lofts comes from the sponsored article we published in New Homes Magazine in July 2008. The development consists of 82 soft lofts and townhomes spread across four buildings and is part of a larger, 10-block redevelopment of downtown Lemont spearheaded by the village and the Marquette Companies.

The ad above directed me to the development’s Web site, which is promoting reductions of more than 50 percent off the homes’ original prices. One-bedroom lofts originally priced from the $190s to the $260s now start in the $110s, and two-bedroom, two-story lofts once listed from the $350s to $450s now start below $190,000.

The project is approved for FHA-backed loans, and buyers can close and move in for as little as $1,200, the site says.