Recently I helped a couple of women buy a 3 bedroom condo at Library Tower in the South Loop. Library Tower is just across the street from the main branch of the Chicago Public Library (shown left). When they signed the sales agreement in May, they were told that the condo would be ready around the middle of August.
They then put their 2 bedroom Lincoln Park condo on the market. It has awesome views of the lake and city and with a reasonable price, it wasn’t long before offers started coming in. Of course, they want to time the closing of their condo’s sale with their new construction purchase. So they also kept an eye on how Library Tower was progressing. When the first units for delivery were due and it was obvious that the building wasn’t ready to move into, they pressed for an update. Sure enough, the new estimated delivery for their condo was moved back to mid-September!
Such delays with new construction are not uncommon. If you can’t be flexible with a move-in date, you may want to consider a resale home instead.
Similar Posts:
- Take a Buyer Agent with You When You Visit New Construction
- Waterview Towers Luxury Condominiums
- How to Minimize Your Risk When Buying New Construction
- Why New Homes For Sale Should Have Inspections
- Call Me Well Before You Visit A New Home Sales Office!
