The construction elevator will be coming down soon and all of the windows will be in place at 1345 Wabash, the first new condo high-rise built in downtown Chicago in years.
The closing-in of the building signals a closing window of opportunity for home buyers to lock in the most desirable units at currently attractive interest rates and pre-completion prices.
1345 residents will enjoy the ability to individualize their home and make it truly commensurate with their personal style at a pre-tax cost that’s less than monthly rents in the neighborhood.
Buyers at 1345 Wabash can currently lock in 30-year fixed-rate financing at a 4.25% with a 10% down payment and lender-paid PMI (Private Mortgage Insurance).
Unit 405, a new 1-bedroom at 1345 Wabash can be purchased for $228,900. With 10% down, the principal and interest payment would be $1,013. The monthly assessment on the unit is $243 and real estate taxes and homeowners’ insurance are estimated at $286 and $20 a month, respectively. The total monthly cost of ownership is $1,562 before tax savings.
One-bedroom units start at $228,900 and 2-bedrooms at $290,900. Visit the sales and design center at 1620 S Michigan or the 1345 Wabash website for further information.