Although prices have been cut at least twice on the remaining condos at XXI Kristin Drive in Schaumburg, buyers have a few options to bring them even lower. Completed in the early 1970s as an apartment building, the 12-story structure was converted to condos beginning in 2006. But upgraded kitchens and baths have not yet been installed in most unsold units. The developers are now offering a free high-end upgrade package—ordinarily $20,500—on some three-bedroom units.
Better yet, a buyer who opts for a two-bedroom, two-bath condo—priced at $187,000 in 2006—without any upgrades could get the place for $125,000, says the sales agent, Jon Millikin of Jameson Real Estate. In addition, the 357-unit building has approval for FHA financing, which lets buyers put down as little as 3.5 percent toward their purchases.
The 95 units that remain for sale range from a 1,000-square-foot two-bedroom condo priced at $115,000 to a 1,250-square-foot three-bedroom condo going for $164,900. Each unit comes with a free outdoor parking space; special indoor spaces cost $5,000.
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Photograph: Todd Urban