So you say you can’t afford to buy at a development, even with builders rolling out incentives and deals to beat the band. Well, free assessments and special mortgage terms and doilies emblazoned with your builder’s name are nice, but the best incentive is still low pricing, and the farther you get from downtown, the lower condo prices tend to be.
Take Old Irving Place, for example. The condo conversion, located at 3727 N Milwaukee Ave, in Old Irving Park, includes a 31-unit building fronting Milwaukee Avenue and a 41-unit courtyard building fronting Kenneth Avenue with units priced from the $150s to the $250s, according to David Mahoney, of marketing agent Koenig & Strey GMAC Real Estate.
What do you get for that price? This isn’t brand new construction, but the buildings are undergoing gut rehabs, with new roofing, windows, fencing, private balconies and electrical systems. All water, waste and gas piping has been replaced. The development includes an exercise room, private storage units and a bike storage facility.
Finishes at Old Irving Place include hardwood floors, in-unit washers and dryers, granite countertops, stainless steel appliances, maple cabinets and marble baths.
According to the development’s Web site, 28 of the 72 one- and two-bedroom condos at Old Irving Place have sold, around seven more than when we stopped by for an open house in mid-June.
