While drafting of the sales contract for these Chicago condominiums, many developers leave themselves an opening to change or substitute the finish selections. It is worthwhile to mention here; it is important that you clarify what these substituted selections will be and the difference in cost of any upgrades. The contract should explicitly state that the final finishes would be equal in value to, or the same as, those shown in the model design of the Chicago condominiums.
Particularly true for new construction- it is important to scrutinize both the contract draft and the property report for transaction subtleties. There might be restrictions laid down by the government body on selling in the first year, or limits on the number of units that may be rented in the building. You must appoint a real estate attorney who knows how to discern the details of the new construction contract and property report. With the increase in the demand for high-end luxury Chicago condos, the property prices in Chicago is approaching $1,000 to $1,200 per square foot. You would surely need a good real estate agent who understands your lifestyle and will represent you by asking the developer’s realtor detailed questions in case of any dispute.