Chicago deals: Developers Bear with the Super Bowl frenzy

Real estate agents are well aware that nobody will pay much attention to the market until we bring home the trophy from Miami. We’ve reported previously that the folks at Rubloff’s South Loop office haven’t bothered hosting open houses on Sundays this football season when the Bears were scheduled to play at Soldier Field. Now we hear that developers are dangling all kinds of deals that they hope buyers will get excited about – either before or after the final whistle at the game of games. If they were really smart they’d give away Super Bowl tickets and flights to Miami – that might help close out some lagging projects.
Many of the incentives are “combo deals” – here’s a sampler:

At Van Buren Lofts, 1224 W Van Buren St, buyers can choose between one year’s free assessments, $3,500 in upgrades or a new washer and dryer and closing costs. Also, buyers with good credit will be approved for zero down-payment financing and receive up to eight months’ worth of mortgage payments. The one- and two-bedroom lofts are priced from the $270s to the $390s.

Buyers at Michigan Avenue Tower II, 1400 S Michigan Ave, will get free assessments for one year and $5,000 worth of free upgrades if they purchase by March. The one- and two-bedroom condos are priced from the $280s to the $490s.

And what would an incentives story be without a plasma TV giveaway? Sutherland Pearsall Development Corporation is offering a 50-inch high-def TV, plus cash toward closing costs for sales contracts executed by March 31 at its eight active South Side developments. Projects include the 59-unit Drexel Parc Lofts, 4537 S Drexel Blvd; the 12-unit Drexel Place Condominiums, 4127 S Drexel; and eight townhouses at Boulevard Townhomes, 3993 S Drexel. The three- or four-bedroom townhouses are priced from the $440s.