Better late than never: Bridgeport Condominiums hosts grand opening party

Bridgeport Condominiums, a 67-unit condo development at 3450 S Halsted St in Bridgeport, Chicago

When a development has been around for nearly two years, can it really have a grand opening party? According to Mark Doyle of Bridgeport Condominiums‘ new marketing team, Rizzo Realty Group, the developer never hosted a grand opening party, so Rizzo took the opportunity to reintroduce the Pappageorge / Haymes-designed development to the neighborhood.

Doyle says 60 or 70 members of the community, aldermen, owners and potential buyers sipped cocktails and munched on hors d’oeuvres at the event, where a slew of new incentives were unveiled.

Buyers now have the option to choose from one of the following four incentive packages:

    A. Two years of paid assessments
    B. One year of paid assessments, free washer / dryer and window treatments
    C. 14-month health club membership, $1,200 for decorating, and one year of paid assessments
    D. Interest buydown or closing-cost credits

A “community heroes” incentive program will also give discounts on closing costs to firemen, police officers and other city workers, and the developer is setting aside eight units to be sold to investors.

When Rizzo Realty started handling sales a few months ago, buyers had closed on just 18 of the 67 homes in the development. Doyle says he expects about four more units to close in the near future, and he hopes to get a few contracts from buyers who attended the party last night.

In July, one- and two-bedroom condos were priced from the $190s to the $330s, but Doyle says that prices have since been reduced by about $15,000 each.

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Sales update: Bridgeport Condominiums 30 percent sold (July 8)

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