With 80 percent of its homes sold and its condo association meeting for the first time next week, it would be easy to file Winthrop Properties‘ Printers Corner into the “old news” drawer. A few one- and two-bedroom homes are still for sale in the building, though, and Winthrop is trying its best to draw a few more buyers into the tower at 171 W Polk St.
The development’s Web site now advertises a “Live Free for Six Months” incentive, in which Winthrop will pay the principal, interest, taxes and condo fees for half a year on a buyer’s new home. Buyers can opt for a rate buydown of up to 1.25 percent instead, if they prefer, a choice which could save them as much as $425 a month over the life of a 30-year fixed loan, the site claims.
The first 10 buyers who take advantage of either offer will get free parking spaces (which normally sell for $36,000 to $40,000 apiece), and qualified buyers can make down payments as low as 3.5 percent, or about $12,000 for the average Printers Corner unit, according to the site.
Sales agent Neil Friedman says the 19 available units are a mix of one-bedroom / one-bath homes with 743 to 769 square feet, priced from the $310s to the $350s (or roughly $430 to $462 per square foot), and two-bedroom / two-baths with 1,145 to 1,168 square feet, priced from the $390s to the $480s (or about $346 to $419 a square foot). All of the homes are ready for immediate delivery, he says.
For the sake of comparison, Printers Corner’s neighbor to the north – Roszak / ADC‘s Vetro high-rise, located at 611 S Wells St – has one-bedrooms with 643 to 1,002 square feet listed from the to the $180s to the $310s (or about $293 to $343 per square foot), and two-bedrooms with 1,133 to 1,667 square feet priced from the $340s to the $460s (or around $276 to $306 per square foot).
• One-bedrooms in the South Loop, near the river (July 24)