About Buying a Unit at Promontory Apartments

Living in a Mies van der Rohe Building Costs a Lot Less Than You’d Expect.

Buying an apartment in the Promontory involves the following process.  Once the buyer and seller have a signed contract, the Property Manager is the Corporation’s representative to schedule an interview with the Board of Directors after which the decision is made whether to approve the sale.  All documents must be submitted to the Property Manager before an interview is scheduled.

 Please review the Buyer’s Packet with your realtor and contact our Property Manager with any questions at promontorymanager@gmail.com or via (773) 493-5599 during business hours.

BUYERS PACKET

To avoid last minute disappointments and rushing to get paperwork done, closing dates should be scheduled no less than a month from the time the paper work is submitted to the property manager of the Promontory Corporation.

Before an interview can be scheduled with the Board of Directors, the completed sales packet must be submitted in full to the Property Manager. Please contact the Manager thru the Promontory Building Office at (773) 493-5599 Monday thru Friday during business hours. The prospective buyer will need to furnish a check made out to “The Promontory Corporation” in the amount of $100.00 for the credit check. The amount is non-refundable.

All sales packets must include:

  • The sales application (Link)

  • A copy of the sales contract

  • Three professional and three personal reference letters

  • Copies of the three most recent monthly statements for checking, savings, investment and retirement accounts

  • For financed purchases: Notarized information from the lender with the approved loan amount. and the monthly loan payment

    Recognition Agreement

  • For cash sales: Notarized verification of monthly income and its sources (Link)

The Monthly Assessment

There are three main parts to your assessment:  building services, electrical charge and contributions to the building’s financial reserves. 

What’s included?

--your property taxes

--building maintenance

--water, heat and electricity costs

--24 hr on site building engineer and 2 full time janitors

--24 hr on site security

--wi fi

--cable TV

Your new home awaits.