Prices keep going down at Lennar‘s Library Tower, located at 520 S State St in the South Loop. The developer on Wednesday slashed the prices of two listed one-bedroom condos by more than 20 percent, bringing them down from the $330s and $350s to the $260s and $270s. Lennar also offering garage parking spaces, originally priced at $40,000 or more, at no additional cost.
Those numbers represent your “big” home costs, but we often forget to delve into the assessments that come with a home. Starting today, we’ll devote an occasional post to these monthly payments — how much the developer estimates a buyer will pay each month, and which services those payments are meant to fund.
According to a price sheet from late 2008, assessments at Library Tower pay for the following utilities and services:
- 24-hour door staff
- High-speed Internet
- Basic cable
- Fitness center
- Business center
- Conference room
- Hospitality room
- Rooftop deck
- Bicycle storage
- Indoor dog run
- Dry cleaning
- Landscaped park
- Common area maintenance and insurance
- Water and trash removal
Assessments for Library Tower’s one- to three-bedroom condos appear to come out to about 25 cents per square foot. Lennar currently estimates the following monthly amounts for its listed units:
- One-bedroom / one-baths: $239 to $285
- Two-bedroom / two-baths: $334 to $378
- Two-bedroom / two-bath penthouses with dens: $404
- Two-bedroom / 2.5-bath penthouses with dens: $444