Loan options "better than FHA" for newly converted condos in Logan Square

3550 W Lyndale St, Chicago

Buyers can qualify for below-market interest rates and put their signatures on contracts before the April 30 federal home buyer tax credit deadline at 3550 Lyndale, a new seven-unit condo conversion located in the heart of Logan Square.

Lending options include a 4.25-percent 30-year fixed, zero-point, no-PMI mortgage with a 5-percent down payment, or a 4.5-percent no-PMI mortgage with just 3.5 percent down, making the financing of a home “better than what you’ll get with FHA,” says Susan Devine, who is marketing the development with Tim Vaughn of Keller Williams Gold Coast Realtors.

Homes inside the classic, all-brick building at 3550 W Lyndale St include a garden two-bedroom / two-bath with 1,285 square feet, listed in the $180s; five three-bedroom / two-baths with 1,370 square feet, listed in the $270s and $280s; and a four-bedroom / three-bath duplex with 2,110 square feet, listed in the $330s.

The homes are in the process of being finished with hardwood floors throughout, KitchenAid stainless-steel appliances, Grohe and Toto fixtures, maple vanities with marble tops, large master showers with multiple heads and glass enclosures, and full-size stackable washers and dryers. Along with their bedrooms, each home features a den or sunroom (below left), Devine says.

Secured parking is available for each unit at $10,000 per space.

3550 W Lyndale St, Chicago 3550 W Lyndale St, Chicago

3550 W Lyndale St, Chicago 3550 W Lyndale St, Chicago

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