Anyone who purchases one of the 810- to 1,745-square-foot homes at 3963 W Belmont Ave in the next two weeks will get a 4.9-percent, 30-year fixed-rate mortgage, one deeded parking space, and no mortgage, real-estate tax or assessment payments until January 2009.
Lofts in the old Florsheim shoe factory feature 11-foot ceiling heights, 9 x 14′ replica vintage windows, and exposed brick and ductwork. Prices on the one- to two-bedroom / one- to two-bath lofts range from the $190s to the mid-$400s.
Dubin doesn’t seem to have a problem moving units at the moment. Patrick reported in late January that 39 of the initial 175 Shoemaker Lofts were still for sale. Today the number of available lofts stands at 19. Now, its possible that some of those 20 have turned into rentals over the past two months, but its just as plausible that recent visitors liked what they saw and took the plunge. Either way, we’ll be able to determine the effect of these new incentives by getting another update around the beginning of April.