“Our compelling prices represent a dramatic opportunity to buy high-end, very large, brand new condominiums at near auction-level pricing,” said Andy Kiener, when he gave me the details on recent price cuts at Grand Bend at Green Bay in Evanston. Kiener is a partner in Insight Real Estate Partners, the marketing firm for the project.
The price cuts typically range between $50,000 and $80,000. A 2-bedroom, 2-bath, 1,410 square foot home, for example, that had been priced at $324,900 has been reduced to $249,900. One bedrooms now start at $174,900 (formerly $199,900) and penthouse units are priced from $499,900 (down from $579,000).
Downtown Evanston has had a number of troubled condo developments and, prior to the current ownership, Grand Bend had been one of them. Kiener relates that the new ownership has spent the last 9 months stabilizing the homeowners’ association, putting in place a realistic budget, and working with existing owners to enhance the exterior and common areas.
Grand Bend recently secured approval for FHA financing.
I did a quick MLS scan of 2/2 condos, and that $249,900 price was lower than any other new construction, and lower than many resales in Evanston.
“With FHA financing available, historically low interest rates, and these dramatic price cuts, Grand Bend is pretty darn affordable,” said Kiener.
You can see more video from Grand Band at this YouTube playlist.
Grand Bend’s sweeping curvature and striking architecture is hard to miss as you drive along Green Bay Rd just north of where it merges into Ridge. The sales office is open Monday, Tuesday and Friday from 10 to 5, Saturday from 11 to 5, Sunday from noon to 5, and by appointment by calling 847-864-4977.