Buyers are coming around on a new-construction six-flat at 3500 W Irving Park Rd on the Irving Park / Albany Park border, where the Matt Garrison Group has listed two-bedroom / two-bath condos in the $210s and four-bedroom / three-bath duplexes in the $290s.
The building saw only one sale before it “got caught in the whole meltdown,” says Bob Kohler, the group’s co-managing director. He and Garrison have been working with North Community Bank for several months to sell the building’s five unsold units and is closing on one today. Another is under contract and will close in a few weeks, leaving just two four-bedrooms and one two-bedroom for sale.
Both home styles feature diagonal oak hardwood floors, maple cabinets, granite countertops, marble bath finishes, master baths with separate showers and tubs, in-unit laundry, and free tandem parking.
Four-bedroom condos haven’t been in high demand lately, but this development’s duplexes should be more attractive following reductions that brought them below $300,000, Kohler says.
“There was just a lack of buyers in that market, especially when we were priced at $350,000,” he says. “Buyers were taking their money and flocking east, even if it meant sacrificing a bedroom. But once we got them down to a price point below $300,000, we’ve seen good traffic. You just can’t get a four / three for that price.”
Financing is available in the form of 5-percent, 30-year fixed-rate mortgages.
For more information on price reductions, foreclosures, and short sales in select Chicago neighborhoods and North Shore suburbs, visit Matt Garrison’s CondoShark.com.