Motor Row Lofts, the auction process

As you’ll hear in the background of this video, there was a steady stream of people registering for the first open house held today prior to the auction of 20 units at Motor Row Lofts in the South Loop.

Jamie Cote of Sheldon Good gives prospective bidders an overview of the auction process in this video, including a detailed explanation of the “buyer’s choice” option in this auction. Cote also outlines the property tax assessment freeze and investor tax credits available at the property, and announces that the project has just received FHA approval. The FHA approval will make financing available to buyers with as little as a 3.5% down payment.

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