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About 30 percent of Kargil Development’s homes at Prairie District Lofts, 1727 S Indiana Ave, are still for sale and can deliver in 90 days, says Lisa McMillan of Frankel & Giles.
Most of the units left in the South Loop building are renter-occupied and have not been renovated, McMillan says. Tenants in purchased units have 60 days to move out, after which time Kargil will upgrade the lofts’ kitchens and baths.
Prices don’t appear to have changed since Mark checked in with McMillan last September. One-bedrooms lofts are priced from the $220s to the $320s, two-bedrooms from the $290s to the $410s, and three-bedrooms from the $420s to the $510s.
Last fall’s incentives — $7,500 off for first-time buyers and two years of free parking in a rental lot – are still in place, McMillan says. The development also received FHA approval last November, meaning qualified buyers can make a 3.5-percent down payment on their homes.
Patrick Rollens and I paid a visit to the Prairie District Lofts sales center last March. You can see video from that trip below.
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{ 2 comments }
What is with the rental lot? Are they not offering parking to purchase?
Jeff:
Only five lofts in the entire building have indoor deeded parking. Four of those are still for sale.
Apparently the rental lot is the only option for the rest of the buyers; no deeded parking in the lot. After the free parking deal expires, tenants will have to pay $90 per month to park there.
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