The Great Downtown Open House 2009

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…

CO

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• 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…

• 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

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Townhome Example…

• Townhomes generally financed as a “single family” (attached) home.

• Condominiums… Financing is available!

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Financing…

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

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…

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

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.

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.

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.

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.

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.

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…

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

• 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

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.

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.

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.

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.

Your Invitation…