New reductions make 3550 Lawndale's two-bedrooms even more affordable

3550 W Lyndale St, Chicago

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

Buyers can still get low-interest, no-PMI mortgages for homes at 3550 W Lyndale St in Logan Square, and now they’ll pay even less for the building’s newly renovated two-bedroom condos.

In April the prices of 3550 Lyndale‘s 1,370 square-foot, three-bedroom / two-bath condos dropped from the $270s and $280s down to the $250s and $270s. This week we received a new price sheet showing these homes starting as low as $239,000 on the first floor and going up no further than the high $240s on the second floor.

One garden two-bedroom / 2.5-bath with 1,285 square feet is still for sale in the $180s, and one four-bedroom / three-bath duplex is priced in the $330s.

3550 Lyndale’s units feature 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. Eight secured outdoor parking spaces are available for at $10,000 apiece.

Assessments in the building range from $92 to $165 per month and cover water, parking, common insurance, exterior maintenance, scavenger, and snow removal.

Among the lending options open to buyers are 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. Unlike some FHA-backed programs, reserves for monthly expenses are not required.

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