As the pendulum swings in favor of buyers, developers are starting to offer all kinds of incentives, particularly with sales being extra sloooow during summer. At The Metropolitan of Skokie, developer Metropolitan Development Enterprises is offering buyers two years of free assessments, 4.99-percent financing, two free parking spaces and the chairman’s first born child. Ok, only the first buyer through the door gets a free kid, but still, there are some pretty strong incentives there. But wait, there’s more:
In the city, The Thrush Companies is keen to close out sales at Jazz on The Boulevard in the North Kenwood-Oakland neighborhood, and is offering $10,000 to $20,000 on selected residences, with the money going toward upgrades or closing credits.
The developer of Van Buren Lofts in the West Loop, is offering 4.5-percent financing and free assessments for one year. At the new Lincoln Center on the North West Side, there are 42-inch plasma TVs and 2-1 mortgage buydowns offering interest rates two percentage points under market rates for the first year and one percentage point under market for the second year.
Yo wants to hear your comments on these incentives.