Library Tower

Library Tower is officially FHA Approved. Now prospective homebuyers can move into a brand new Library Tower Home, one of the most desired new buildings on the South Loop, for only 3.5 percent down.

At Library Tower it’s all about location, location and location! Residents will enjoy living in the center of it all right in the heart of downtown Chicago directly on State Street near amazing restaurants, shopping, museums, clubs, concerts and sporting events. The building is across the street from the Harold Washington Library just steps off the El train.

The building features a variety of floor plan options with unique loft-style designs ranging from 865 to 2,030 square feet. One to three bedroom and penthouse plans are available. Pricing starts from the $250s and many homes include parking.

Library Tower offers a wide range of amenities including a 24-hour doorman, fitness center, business center, residential movie theater room, hospitality room, rooftop deck and a landscaped park. An indoor dog run and bike storage is also available.

“There has never been a better time to purchase a home right in the heart of the Windy City,” said Leigh Nevers, Director of Sales for Lennar’s Chicago division. “Library Tower truly is downtown living at its finest with a superior location, luxurious amenities and a superb choice of loft-style residences available.”

Besides only putting down 3.5 percent to get into a brand new home at Library Tower, all first-time homebuyers can also take advantage of the government’s first-time homebuyer tax credit opportunity. If you haven’t owned a home in the last three years you may qualify to receive this government tax credit of up to $8,000. It’s not a loan, there is no repayment, but prospective buyers need to act now as this government stimulus ends in November.

Library Tower does have immediate deliveries available for move-in prior to the November 30th tax credit expiration date. Additionally, Lennar’s preferred lender, Universal American Mortgage Company (UAMC), is currently providing amazing rates and financing.

Library Tower is developed by Lennar, one of the nation’s leading homebuilders. This year Lennar is celebrating its 55-year anniversary and currently offers homes in various markets across the country. With this longevity in the homebuilding industry and financial stability, prospective homebuyers can feel secure they are buying from a homebuilder that will be here tomorrow.

The Chicago division of Lennar offers a variety of homes from townhomes, duplex homes, ranch villas and row homes in the most desired locations in the Chicagoland area. Homes are strategically located near the Metra Transit System, CTA Transit System, O’Hare International and Midway Airports and all major expressways.

With hundreds of Communities nationwide and a product offering designed for first-time, move-up, commuters and downsizers Lennar has long distinguished itself by including the most desired features and upgrades as standard. Everything You Want, Everything You Need, That’s the Logic of Lennar.

Library Tower by Lennar is located at 520 South State Street. Guest parking is available on the south end of the building; the entrance is on Harrison Street, just west of State Street.

For more information on Library Tower in the Chicago area call the Library Tower Welcome Home Center at 877-202-9863 or visit lennar.com/Chicago. Welcome Home Center and decorated model are open Sunday 11am – 6pm and Monday through Saturday 10am – 6pm. Brokers participation welcome.

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Specific terms apply and buyer is subject to qualification that includes, but not limited to, a minimum of 3.5% down, a minimum credit score of 620, owner occupancy requirements and/or any changes in investor guidelines or programs. FHA jumbo loans not permitted. **First-time homebuyer is any individual (excluding a non-resident alien) who has not owned a principal residence during the past three years and is purchasing the new home as their primary residence. Lennar cannot provide guarantees of actual savings and does not guarantee the homebuyers’ qualification for the federal tax credit. Not tax advice; homebuyers should consult with their tax advisor. Tax laws are subject to change. Features, amenities and designs vary per plan and community and are subject to changes or substitution by Lennar without notice. Prices subject to change without notice. Illinois Residential Mortgage Licensee #MB0002095 (2300 N. Barrington Road, Suite 650, Hoffman Estates, IL 60169). Copyright © 2009 Lennar Corporation and Universal American Mortgage Company, LLC. All rights reserved. Lennar, the Lennar logo, Universal American Mortgage Company and the UAMC logos are registered service marks or service marks of Lennar Corporation and/or its subsidiaries. 9/09