Today's News Homes/Pioneer Press - January 31/February 1, 2007

For homebuyers, location is usually the top consideration when choosing a new home. But sometimes location itself is what keeps buyers from being able to afford the home they want, where they want. Here, Chicago-area developers offer options for purchasing homes in four popular neighborhoods, helping buyers from first-timers to families get into the neighborhoods they want.

A HOT DEAL IN THE COOL WEST LOOP

Gavin Stein, vice president of Mesirow Financial Real Estate, noted recent interest rates hovering near 6 percent have made it an ideal time for first time buyers to get their foot in the door in the West Loop at R+D659, a new condominium development in the neighborhood. Additionally, buyers can take advantage of a special incentive through National City Mortgage, the developer's preferred lender, to receive a 1.5 percent buy-down on market interest rates.

"Buyers may look at the West Loop's hip social scene and think the area is out of their financial reach, but current low rates, not to mention our financing incentive, have really opened up the neighborhood to more buyers," he said." "At R+D659, even first-time buyers can enjoy the sophisticated lifestyle the West Loop is known for, with hot spots like Blackbird and Sushi Wabi within blocks and the Loop a five-minute walk away. Likewise, the building itself exudes an urban vibe through contemporary architecture and modern finishes, as well as amenities like a rooftop pool, landscaped sundeck and a lounge with a wet bar, media room and a billiards table."

Stein added that R +D659 features floor plans ranging from convertible residences to penthouse units, making it possible for most buyers to find a home that fits within their budget.

Located at the corner of Randolph and Desplaines, R+D659 includes 237 condominiums with one- one-plus-den, two-and three-bedroom floor plans. Base prices range from the low $200,000s to the mid $400,000s. Six penthouses are also available, measuring from 1,400 to 2,175 square feet and base-priced from the mid $500,000s to the mid $800,000s.