Remember that invitation to live at Grand Plaza for the summer while developer Jaeger Equities pays off six months of rent? Well, Labor Day is behind us and summer is coming to a close, so I guess that means it’s time for Grand Plaza Penthouses, 545 N Dearborn St, to reconfigure its incentive package.
Instead of boring promises to cover your rent, the Web site urges buyers to “Make your dream home at Grand Plaza…For Free!” and “Personalize your penthouse – on us!” and “Find out how to spend $150,000 of our dollars!”
The amount of money buyers will get back actually depends on the price of the unit. Buyers of one-bedrooms in the $410s will get less than $40,000 back, while buyers of $1.5 million penthouses will get $150,000.
In reality, buyers don’t actually need to put the money towards customization – they could spend it on a new car or just pocket it – but if we’re to believe the before and after photos on Grand Plaza’s Web site, most people would be inclined to invest in some basic features like flooring and stairwell carpeting. Curiously, these “before” photos show the unit, not with standard finishes, but completely gutted, with cement floors, unpainted walls and unfinished stairwells. I don’t remember any “as-is” units advertised at Grand Plaza, so it seems a bit strange to contrast the upgraded unit with a raw, unfinished one.
– Rate and review Grand Plaza at NewHomeNotebook.com
