Today's New Homes/Pioneer Press - September 12, 2008

Mortgage rates go below market at West Loop high-rise

In this volatile market, prospective homebuyers are finding it harder to make their dreams of owning the perfect home come true. That is not the case at R+D659, a chic condominium building in Chicago's West Loop neighborhood.

The developer, Mesirow Financial Real Estate, is offering an exclusive 1.5 percent discount below the market mortgage rate for 30-year fixed mortgages at R+D659 through National City Mortgage.

"R+D659's exclusive rate adds up to the equivalent of two free payments a year for most of our buyers and the larger your purchase, the larger your savings," said Dominic Adducci, managing director at Mesirow Financial Real Estate. "There are no strings attached ... 1.5 percent below the market mortgage rate is the rate you'll have throughout the life of your 30-year fixed mortgage."

Mesirow Financial Real Estate offers sleek, stylized kitchens and below-market mortgage rates at R+D659 in Chicago's West Loop.

R+D659 is a contemporary 17-story glass-and-concrete high-rise under construction at the corner of Randolph and Des Plaines streets. The modern building features 237 condominiums and penthouses ranging from 655 square feet to more than 1,600 square feet. Prices on unsold units range from the upper $200,000s to the $700,000s.

Prospective buyers can visit the building's Web site, www.RD659.com, to view specific floor plans and see how this discounted rate would decrease their monthly payments.

"The mortgage calculator tool on our site is extremely easy to use. Just type in a few figures and it will tell you how much you'll save each month," Adducci said. "It even adds up the savings you'll accrue over one year, five years and 10 years, sometimes adding up to tens of thousands of dollars."

The offerings at R+D659 don't stop there. The building boasts more than 30 varieties of one-, two- and three-bedroom floor plans. Sales are moving quickly, but there is still a good selection of floor plans available. You can see the complete offerings of the building when you visit the sales center and full-scale model home.

The open layout flows flawlessly from one room to another, all highlighted by carefully chosen modern finishes. Those include sleek European-style cabinetry in the kitchen and bath, granite kitchen countertops, stainless-steel appliances and wood flooring in the living spaces. All plans also feature expansive 9-foot ceilings and 12-foot ceilings on the penthouse floors.

Beyond the interiors of the homes, R+D659 also offers many amenities. The residents-only lounge features a flat-screen TV with surround sound, a wet bar, pool table, full kitchen and dining area. Adjacent to this will be a fully equipped exercise room and a completely connected business center.

The outdoor building amenities will include a swimming pool with landscaped sun deck, a Japanese-style garden and an outdoor grill area. The building's environmentally friendly green roof will provide an al fresco option to residents.

The surrounding West Loop neighborhood is home to several art galleries, renowned restaurants and ample nightlife that are all within a short walk from R+D659. The building is also walking distance to CTA buses and the Green Line. Ogilvie Transportation Center and the expressway are both just a few blocks away, providing easy access to the rest of the city.

The R+D659 sales center and decorated model are now open at 626 W. Randolph St. at the northeast corner of Randolph and Des Plaines streets. Sales hours are noon to 6 p.m. weekdays and noon to 5 p.m. weekends. For more information, call (312) 474-0659 or visit www.RD659.com.