The price cuts that accompanied the relaunch of Grand Bend at Green Bay in Evanston earlier this year opened the development’s new-construction condos to a new market of buyers. With FHA-backed financing now in place, even more buyers will be able to buy a new home at Grand Bend by taking advantage of low interest rates and a 3.5-percent down payment, says Andy Kiener of Insight Real Estate Partners.
With an FHA-backed loan, the cost of ownership at Grand Bend in many cases becomes lower than the cost of renting in Evanston, Kiener says.
Grand Bend, 1228 Emerson St, features junior one-bedrooms with 830 to 964 square feet, priced from the $180s to $200s; one-bedroom / one-baths with 1,047 square feet, priced in the $220s and $230s; two-bedroom / two-baths with 1,410 to 1,610 square feet, priced in the $290s to $350s; and penthouses with two or three bedrooms, two or 2.5 baths, and 1,792 to 2,055 square feet, priced from the $570s to $630s.
Joe Zekas and Andy toured one of Grand Bend’s new condos in April, soon after the project returned to market. Watch one segment of their walk-through below.