This winter we received e-blasts from American Invsco promoting rental opportunities at 200 North Dearborn, which led me to wonder whether the company was shifting its focus away from sales at the Loop tower for the time being. Apparently not. Yesterday Mark and I received e-mails from Invsco promoting its new “Reassurance Package,” which “will protect your mortgage in case of a job loss!”
Invsco loves these package deals — it’s impossible for me to keep up with the various combinations of assessment payments and parking buybacks — and this one, also billed as a “Chicago Stimulus Program,” is no exception. If I’m reading this correctly, Invsco is offering buyers 10-year mortgages with 2.5-percent interest, 10 years of no principal, and a promise to cover up to 12 months of mortgage payments in case of job loss over a 10-year period.
The offer is limited to 50 units, all of which must be owner-occupied. Naturally, if you want to take part, you have to attend a “Stimulus Seminar” this Saturday or Sunday. (At least you’ll have the chance to win a 10-pound bar of Ghirardelli chocolate.)
As of last fall, 200 North Dearborn’s unsold units included:
- Convertibles (studio-sized units with bedrooms and kitchens set out from the main living area) priced from the $270s to the $280s
- One-bedroom / one-baths priced from the $300s to the $450s
- Two-bedroom / one-baths priced from the $440s to the $450s
- Two-bedroom / two-baths priced from the $460s to the $550s
Related videos:
• Touring 200 North Dearborn: Part 1, Part 2