Oakwood Shores offers $10,000 down-payment assistance grant

By Seka Palikuca | Tribune reporter

March 6, 2009

A special $10,000 City of Chicago down-payment assistance grant is available at Oakwood Shores, a 94-acre mixed-income community at 39th Street and Ellis Avene in North Kenwood.

Eleven immediate-occupancy condominiums, duplex town homes and row homes are available, and these residences are eligible for the $10,000 grant, said Joseph Williams of Granite Development, the co-developer.

Condo prices start at $234,900, duplex town home prices begin at $374,900, and row homes start at $529,900.

The Oakwood Shores sales center is at 3744 S. Cottage Grove. Call Monica Hernandez at 773-538-0001 to schedule an appointment.

Hale Street GroupThe Hale Street Group has introduced a new financing option for those considering their Arlington Heights residential properties.

Buyers at Hale Street's Hickory Rowhomes, 1 North Chestnut Condominiums, Carlyle at Stonegate Rowhomes, and Salem Condominiums are being offered zero-percent financing. All of the properties are in downtown Arlington Heights or nearby.

Under the agreement, the Hale Street Group will carry the buyer for two years at zero-percent financing. (After the agreement expires, the buyers are responsible to refinance with a financial institution of their choice.)

"In this market, we feel it is imperative to create a financing environment very favorable to the buyer," says Matthew Pablecas of The Hale Street Group.

For information, call 847-520-4200, ext. 103.

Red Seal HomesRed Seal Homes has announced a new Home Buyer's Job Loss Program that is available to buyers who purchase a new single-family residence or townhouse at Deer Park Estates in north suburban Deer Park.

The program will pay the buyer's mortgage for up to one year if the buyer experiences a qualified job loss during the first year after purchase.

Located at the corner of Long Grove and Quentin Roads, the neighborhood includes 61 two-story townhouses and 11 single-family homes. Prices have been reduced recently with townhouses priced from $389,900, and single-family prices beginning in the $590,000s.

The townhomes are clustered in groups of three to four homes and range from 1,891 to 2,781 square feet. The two single-family plans include a 2,201-square-foot design with three bedrooms and a 3,116-square-foot plan with four bedrooms. The sales center is open 10 a.m. to 5 p.m. daily. For information, call 847-719-1750 or visit redsealhomes.com.