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Monthly Cost
Property Taxes
Multiply the unit price by the Oak Park rate of .0276 for estimate of annual tax payment and divide by 12. (eg. $480,00*.0276=$13,248/12=
$1,104 per month. Just an estimate.
Homeowner Association Fee
The association fee will include common space utility, garden, and repair expense. It will be lower than typical condo fees because members agree to do most of the work maintaining the building and grounds. Estimate between $200-$300
Utilities
Each owner will pay for their individual unit use of electricity and water. We will be using natural gas only to heat water using a central furnace on the fifth floor. Oak Park Average $133, but we expect less.
Mortgage Payments
Monthly mortgage payments vary based on terms: amount, time and rate. (eg. $200,000 15 years @ 5% = $1,582)
Prices April 2023
TIMELINE
TIME TO ACT!
Prices Increased
+3%
July 1, 2022
Prices Increase
+10 %
Construction Start
Prices Increase
+10%
Construction Done
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