Is 20% off the new “Full Retail Value?”

It just came to me today, when I received the fifth email from the Head Honcho’s at @properties announcing another development that has slashed prices quite dramatically to inspire some fast sales.

This is after remembering that my Video Walking Tour of Roscoe Village contained one vignette of my comments on some of my buyers getting some REAL GOOD DEALS so far this year.

The buyers that I mention in the video above made an offer of $475,000 on a River North townhouse listed for $565,000.  The owners countered us at $550,000.  My advice was to try to settle for around $525,000.  My buyers made a counteroffer at $500,000, and when the received a counteroffer of $540,000 said “No Thanks.”

Those sellers came back to us a day later and said they would take the $500,000.

1st Qtr Promo Flyer

Your guide had the pleasure of selling one of the massively discounted one bedrooms at 2930 North Sheridan on the very first day of their blow-out sale.  $40,000 off a $260,000 one bedroom is a very sweet deal.


Here’s another one from a few weeks ago.  Since this flyer is getting on three weeks old, we have the results of the incentive:  Over 100 more contracts since this program was released to @properties in-house transactions, and then to the Public a week later.


More? You ask?  Savings at Superior 110 are also in the 20% off range.


A couple examples of incentives that probably won’t work in the flyers below.  No mention of the amount of discount offered for these “Builder Close Out Price Reductions.”  But looking in the MLS, they appear to be around 5% off.  That’s probably not going to cut it.


And at Silver Tower (below) the $5,000 off units that start at $250,000, but easily scoot above $500,000, the discounts amount to 2% on a less-expensive one bedroom to under 1% on the upper end large units in the building.


No Comments