Download - The Great Downtown Open House 2009
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The Great Downtown Open House
May 27th Product Awareness Session
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Strength and distinctiveness of downtown products…
• For sale options…– Condo vs. Townhome– Financing is available!– Incentives
• For lease options…
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CO
ND
OM
INIU
MS…
• Condominiums are most common type of “attached” community association…
• The condominium is a unique form of ownership where the owner typically only owns the air space, but not the physical boundaries of the unit or the land underneath the unit...
• The owner holds a shared interest in the common area…
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Condominium Example…
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• Townhomes are usually a series of single story or multistory units that are linked to each other horizontally by common walls.
• Townhome owners hold title to their units and the land beneath them. As with condos, common areas are owned jointly by all townhouse owners.
• A property owners' association usually manages the townhouse complex and collects fees from all owners in order to maintain common areas.
TO
WN
HO
ME
S…
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Townhome Example…
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• Townhomes generally financed as a “single family” (attached) home.
• Condominiums… Financing is available!
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Financing…
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Condo financing options
30 yr fixed• Employee Assisted Housing Program• Fannie/Freddie/FHA approval (PERS)
OTHER:• Portfolio loans• 5/1 ARMs• 3/1 ARMS
See each property for special offers
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Incentives…
Down Payment Assistance• Employee Assisted Housing Program – $5,000. to
$10,000.• American Dream Down Payment Initiative – 6% of
purchase price• Down Payment Plus - $4000.
Tax Credits• Mortgage Credit Certificate Program (80/20)• 1st time buyer tax credit - $8000.
…All incentives are subject to qualification and may end without prior notice, other terms and conditions may apply. Ask your lender and agent for details…
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Incentives in action…
EXAMPLE:
An Amcore Employee, 2 person HH w/annual HH Income $40,700.
Purchase price $155,000. (Garrison Town Home)
Employer Asst* 5,000.
IDHA Match* 3,000.
Down Payment Plus* 4,000.
ADDI 6%* 9,300.
Employee cash down $1,000.
1ST Mortgage* $ 132,700.
PLUS $8,000 in First-time buyer tax credit AND 20% MCC*Subject to program qualifications, completion of home-buyer education classes with RAAHC, credit and mortgage availability approval, other terms and conditions may apply.
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• For Sale Options…
Town Homes
Condos – Loft
Condos – Live/Work
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Lantow
Lofts
502 7 th Street
One and Two bedroom floor plans• Maintenance-free Condo living• Low utility costs “green” features•Secure garage and entry• Garden deck and elevator•Units start from $135,900.
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River E
ast Lofts
202 North M
adison Street
2 and 3 bedroom floor plans
• Historic building, exposed brick
• Custom kitchens w/premium appliances
• Unique floor plans incl. fireplaces
• 1 & 2 Car garages
• Roof top decks with GREAT VIEWS!
• Units start from $168,000.
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Garrison T
own H
omes
419 John Street
1, 2 and 3 bedroom floor plans
• Stone counters, custom kitchens
• Energy efficient “green” design
• Beautifully landscape courtyard
• Private balconies
• Direct access garages
• Units start from $155,000.
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409 Madison
2 and 3 Bedroom floor plans
• 2 stories
• Fireplace
• 2 car garage
• Modern, mixed-use living
• 1st floor commercial space also available
• Eco-friendly, efficient construction
• Units start from $285,000.
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Bliss B
uilding317 M
ulberry Street
1 bedroom - live/work floor plans
• Open, flexible loft plans utilizing
• Huge windows with great natural light
• Custom kitchens w/ soap stone counters
• Large walk-in showers
• Units start from $155,000.
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408/410 East State Street
1, 2 and 3 bedroom floor plans
– Historic Condos
– Custom Kitchens w/Energy star appliances
– Tin ceilings
– AND MORE…
COMING SOON…
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The B
rewhouse
200 Prairie Street
1, 2 and 3 Bedroom floor plans
• Historic, Mixed-use living
• River views
• Boat slips/marina
• Roof top gardens/patios
• Eco-friendly design
• Units starting from $171,000
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• For lease options…
Long term leases
Short term leases
Corporate housing
Contact each property for rental information…
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Metropolitan A
partments
414 E. State Street
Two bedroom floor plans• Maintenance-free apartment living• Low utility costs “green” features• Apartment has custom cabinets, countertops, hardwood flooring, ENERGY STAR appliances•Rents from $875.00
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Rock R
iver Tow
er913 N
orth Main
Studio, 1, 2 & 3 bed floor plans
• Great river and City views!
• Heat & A/C included
• Swimming pool
• Underground parking available
• Boat slips
• Rents from $555. to $1,400.
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The W
illiam B
rown L
ofts226 S. M
ain Street
Studio, 1 & 2 bedroom floor plans
• Granite counters
• Custom cabinets and trim
• Great views
• Broadband included
• Secured access parking
• Rents from $760.
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Garrison L
ofts1105 N
orth Court Street
1, 2 and 3 bedroom floor plans
• Lofts in the truest sense!
• Reclaimed & recycled beams & trim
• Eco-friendly historic renovation
• Up to 40’ ceilings
• Private garage parking
• Rents from $1295.
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Morrissey L
ofts127 N
orth Wym
an Street
2 bedroom floor plan
• Patio and roof deck
• Incredible river views
• Large, unique floor plans
• Heated, indoor parking
• Appliances and storage
• Rent at $1500.
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Your Invitation…