Featured Style: Tri-level Townhouse

Ready to trade up from a condo to single family home, but not ready to ditch the condo lifestyle?ย  Enter the townhouse, a savvy city-dweller’s solution that’s truly the best of both worlds.

A townhouse is a single-family dwelling with at least two floors and that shares a wall with another adjacent house.ย  Some town homes operate like condos where you own only the interior of your unit, and a homeowners association that governs and pays for some shared common elements (ie exterior maintenance, building insurance, water, etc).ย  Others have fee simple ownership, where you own your parcel completely and can make any alterations you desire! Either way, a townhouse will truly feel like an individual, detached single family home.

Below is a sampling of six selected townhouse properties across Chicago – all under $800k sticker price โ€“ that each feature four bedrooms, three bathrooms and at least one parking space.ย  Most but not all include outdoor space (yard, balcony or deck), and all of these are active listings as of publishing March 20.

2735WPindivilleLogan Square: 2735 W Prindiville St
โ€“ Sticker Price: $649,900
โ€“ if 5% down: $4,694 monthly / $32,495 down
โ€“ if 20% down: $3,896 monthly / $129,980 down
โ€“ photo credit & presented by Jameson Sotheby’s

 

4048NClarkELakeview: 4048 N Clark St #E
โ€“ Sticker Price: $675,000
โ€“ if 5% down: $4,677 monthly / $33,750 down
โ€“ if 20% down: $3,849 monthly / $135,000 down
โ€“ photo credit & presented by Redfin

 

1910WAddisonERoscoe Village: 1910 W Addison St #E
โ€“ Sticker Price: $739,000
โ€“ if 10% down: $4,948 monthly / $73,900 down
โ€“ if 20% down: $4,225 monthly / $147,800 down
โ€“ photo credit & presented by @properties

 

2757NBosworthLincoln Park: 2757 N Bosworth Ave
โ€“ Sticker Price: $749,500
โ€“ if 10% down: $5,326 monthly / $74,950 down
โ€“ if 20% down: $4,592 monthly / $149,900 down
โ€“ photo credit & presented by Berkshire Hathaway

 

1717NWinnebagoAveBucktown: 1717 N Winnebago Ave
โ€“ Sticker Price: $774,500
โ€“ if 10% down: $5,246 monthly / $77,450 down
โ€“ if 20% down: $4,487 monthly / $154,900 down
โ€“ photo credit & presented by Realty Chicagoland

 

1503NMohawk1WOld Town: 1503 N Mohawk St #1W
โ€“ Sticker Price: $799,000
โ€“ if 10% down: $5,997 monthly / $79,900 down
โ€“ if 20% down: $5,214 monthly / $159,800 down
โ€“ photo credit & presented by @properties

 

Like any home purchase with a large loan amount, you will need to discuss a jumbo loan (also known as non-conforming loan) with your lender. In 2017, the conforming loan size limit for a one-unit home is $424,100 nationwide.

*Monthly pricing assumes 4.5% interest rate, 30-year fixed conventional loan. Multiple loan options may be available to you; ask me to connect you with a preferred lender who can counsel you through custom options suited to your needs.