Medinah on the Lake secures FHA approval

August 14, 2014
FHA approved: Move-in-ready units are available at Medinah on the Lake, Foxford Communities' luxury condominium conversion in Bloomingdale.

FHA approved: Move-in-ready units are available at Medinah on the Lake, Foxford Communities’ luxury condominium conversion in Bloomingdale.

Hinsdale, Illinois-based Foxford Communities has secured Federal Housing Administration (FHA) approval for Medinah on the Lake, its luxury condominium conversion in Bloomingdale, Illinois. More than 50 percent of the 72 luxury units have sold, and Foxford is now offering immediate occupancy for six homes.

“Having FHA approval opens up a lot of new doors for our buyers,” said Peter Brennan, president of Foxford Communities. “When we took over Medinah on the Lake, we wanted to make sure buyers had plenty of options to find the perfect home. Now, with FHA approval, homebuyers can take advantage of lower
down payments as low as 3.5 percent depending on their credit score.”

Located at 125 Lakeview Drive, just north of LakeStreet and east of Bloomingdale Road, the luxury condominiums are tucked away in a natural setting right next to Lake Medinah, surrounded by Meacham Grove Forest Preserve.

The move-in-ready floor plans include two one-bedroom-plus-den units, one two-bedroom-plus-den unit, two water-facing three bedroom units and a three bedroom penthouse unit. Prices range from $164,900 to $499,900.

Composed of two midrise buildings with distinctive brick-and-stone exteriors, Medinah on the Lake offers homes with approximately 1,067 to 2,140 square feet, one to three bedrooms, 1 to 2 ½ baths and a den in select plans.

The homes include luxury finishes like hardwood floors in the main living area and kitchen, quartz or granite countertops and custom cabinetry. Each home also includes nine-foot ceilings, stainless steel appliances, in-unit washer/dryer, a private balcony, sound deadening wall construction for privacy and a heated parking garage.

Additionally, the community is anchored by its spacious clubhouse. It includes an entertainment room complete with a big-screen TV; kitchenette and serving bar; a heated swimming pool; a fireplace; newly updated fitness facility with saunas; and private beach access to Lake Medinah.

“The location and setting does not compare to any other property in the surrounding area, not to mention the selection of open floor plans and generous room sizes,” said Brennan. “Medinah on the Lake provides a unique lifestyle and community where homeowners have hiking, biking and cross country skiing trails right out their back door. Plus, they have their own private beach, complete with grills and a firepit. It’s an ideal place to unwind after a long day.”

Medinah on the Lake is only minutes from Interstates 90 and 355 and the Metra. Residents enjoy easy access to the city, neighboring suburbs and Chicago’s O’Hare airport. The community is part of Bloomingdale School District 13, which includes Lake Park High School.

Medinah on the Lake’s on-site sales center is open Monday, Wednesday and Friday from 9 a.m. to 6 p.m. and Saturday and Sunday from 11 a.m. to 5 p.m. For more information or to make
an appointment to visit and view any of the three decorated models, visit www.medinahonthelake.com or call (630) 980-7300.

Tracy Flanagan from Wintrust Mortgage represented Foxford Communities and helped to obtain FHA approval for Medinah on the Lake.