Sale Picks Up Steam at Park Ridge Townhomes

THE COOLEST CUT: After developer slashes prices, buyers seek out stalled project

A row of townhouses in Park Ridge

PARK RIDGE
LIST
$464,990 TO $484,990

Last year, after work sputtered out on 25 townhouses in Park Ridge, Pulte Homes bought the project from its lender, restarted construction, and cut prices by almost 40 percent. In six weeks, Pulte sold four homes; over about two years, the original developer had managed to sell only one. “People are afraid to buy in a big development with 100 lots or more left to sell,” says Dave Balcerzak, a Pulte sales executive. But at a smaller development like this one, he explains, “they expect to see us finished in a year or two.”

Each of the three-level homes at Gateway Estates has three bedrooms, two and a half baths, a spacious kitchen, a balcony, a fenced patio, and a two-car garage. The costlier townhouses are end units with a little more room (a total of 2,650 square feet) and windows on three sides.

Send tips about home sales to dennis@rodkin.com.

 

Photograph: Courtesy of Pulte Homes

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