Our new pricing puts us at or below the market for new construction on the Near North Side, and puts Parkside of Old Town within reach for a much wider pool of homebuyers
Chicago, IL (Vocus) June 24, 2010
Old Town. New Prices. Four words that will appeal to homebuyers at Parkside of Old Town, a mixed-use development on Chicago’s Near North Side, where Holsten Development and @properties have lowered prices on Old Town condominiums by up to 30 percent and reduced prices on Chicago townhomes by up to 40 percent.
One-bedroom condominiums are now being offered from $175,000, two-bedroom condominiums start in the $240,000s, and three-bedroom condominiums are priced from the $320,000s. Two and three-bedroom townhomes are priced from the $330,000s. All condominiums include garage parking, and townhomes come with either a one- or two-car attached garage. A variety of condominium and townhome floor plans are available for immediate delivery.
“Our new pricing puts us at or below the market for new construction on the Near North Side, and puts Parkside of Old Town within reach for a much wider pool of homebuyers,” said Peter Holsten, president of Chicago-based Holsten Real Estate.
Located on Division Street just west of Orleans, Parkside of Old Town borders Old Town and Lincoln Park to the north, River North to the south and the Gold Coast to the east. The multi-phase master-planned community spans eight blocks and consists of nearly 800 new homes. Phase I includes 207 new-construction mid-rise Old Town condominiums and 72 Chicago townhomes.
The development is FHA approved so homebuyers can purchase with as little as 3.5 percent down. Qualified buyers can also take advantage of a number of grants, including the Find Your Place in Chicago grant that provides $10,000 in purchase assistance.
“The market has created a great opportunity for homebuyers to get a lot more home for the money or to get into a new home or a location that was unattainable just a few months ago,” said Michael Golden, co-founder of @properties, the exclusive sales and marketing firm for Parkside of Old Town. “Buyers who missed out on the tax credit are looking at an even better deal now with these price cuts.”
Condominiums and townhomes at Parkside of Old Town include hardwood floors in the kitchen and living areas; stainless steel appliances and granite countertops in the kitchen; oak or maple cabinetry; and ceramic tile and cultured marble countertops in baths. Condominiums include a balcony or terrace, and common-area amenities including a fitness center and business lounge. Townhomes offer a gated entry, Juliet balcony and optional roof deck.
The development recently won the 2009 National Award for Smart Growth Achievement from the United States Environmental Protection Agency.
Parkside of Old Town features a central location that is less than one mile from Chicago’s lakefront, the Loop business district and the Kennedy Expressway. It also provides easy access to public transportation. A shopping center anchored by a Dominick’s grocery store, Blockbuster Video and Starbucks Coffee is located across the street; and restaurants and shopping in Old Town, Lincoln Park and River North are nearby.
The sales center and decorated models are located at 1152-2 N. Cleveland. Sales center hours are Saturday and Sunday, 12 p.m. to 4 p.m., and by appointment. For sales information, visit http://www.parksideofoldtown.com or call 312-254-0900.
About Holsten Real Estate Development Corporation
Holsten Real Estate Development Corporation was established in 1975 by Peter Holsten. Over the past 35 years, the company has developed more than 5,000 housing units valued in excess of $500 million. Holsten specializes in market-rate, mixed-income and affordable housing in the city of Chicago and is known for its community revitalization projects in Uptown, Garfield Park and on the Near North and Near South sides. The firm has won numerous local and national awards for community redevelopment, historic preservation and smart growth. For more information, visit http://www.holstenchicago.com.
Established in 2000, @properties is the #1 real estate brokerage firm in Chicago with more than 900 licensed agents. In addition to development sales and marketing, @properties operates full-service residential and commercial brokerage divisions; @properties Relocation; @properties Property Management for residential and commercial real estate; and @properties ISG, specializing in brokerage and asset management of distressed and REO properties. The company has seven Chicago and North Shore offices: Bucktown, Lakeview, Lincoln Park, River North, Streeterville, Evanston and Winnetka. For more information, visit http://www.atproperties.com.