CribChatter this morning pointed readers to a new ad in the Tribune promoting big price cuts on condos and townhomes at Parkside of Old Town, the multi-phased, mixed-income development going up on old Cabrini-Green land along Division Street between Cleveland Avenue and Larrabee Street.
According to a promotions page on the Parkside Web site (bearing the unfortunate title “Screams”), prices on select condos have been cut by $50,000, bringing one-bedrooms down below $200,000 and two-bedrooms into the high $280s. Townhomes with attached garages, once priced in the $590s, are now selling in the $490s.
Equity Marketing only posts a handful of condos and townhomes on the MLS, and it doesn’t look like any of the reductions are represented on the company’s few listings. One two-bedroom / 2.5-bath townhome with 1,682 square feet did see a $100,000 reduction in June and is now priced in the $440s, while a two-bedroom / two-bath condo with 1,348 square feet saw a $62,000 reduction at the same time and is now listed in the $490s.
I put in a call to the Parkside sales team and hope to have more details to pass along once they call back.
All of Parkside’s condos have hardwood floors, granite countertops, oak or maple kitchen cabinets, stainless-steel appliances, and designer bath fixtures. Along with the price cuts, Parkside Associates is participating in several incentive and assistance programs to help qualifying buyers, including the TaxSmart mortgage credit program, the Harris Bank lender incentive program, and the Partnership for New Communities $10,000 grant program.