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Docusign Envelope ID: 28F04E4B-F39E-4802-92BA-75D9693EEF74 1895EED2-18E5-4B31-A081-D91C8B49D3E4 MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 8.0 1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the “Parties.” 2 Buyer Name(s) [PLEASE PRINT] New Heights Development, LLC Seller Name(s) [PLEASE PRINT] LOFTY HOLDING 7542 SOUTH COLFAX AVENUE 4 If Dual Agency applies, check here  and complete Optional Paragraph 30. 3 5 2. THE REAL ESTATE: Real Estate is defined as the property, all im

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Docusign Envelope ID: 28F04E4B-F39E-4802-92BA-75D9693EEF74
1895EED2-18E5-4B31-A081-D91C8B49D3E4

MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 8.0
1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the “Parties.”
2

Buyer Name(s) [PLEASE PRINT] New Heights Development, LLC

Seller Name(s) [PLEASE PRINT] LOFTY HOLDING 7542 SOUTH COLFAX AVENUE
4 If Dual Agency applies, check here  and complete Optional Paragraph 30.
3

5 2. THE REAL ESTATE: Real Estate is defined as the property, all improvements, the fixtures and Personal Property
6

included therein. Seller agrees to convey to Buyer or to Buyer’s designated grantee the Real Estate with approximate
7 lot size or acreage of 23 X 125
commonly known as:
8 7656 S Colfax Ave Chicago IL 60649
9 Address
Unit # [IF APPLICABLE]
10

 Single Family Attached

 Single Family Detached

12 If Designated Parking is Included: # of space(s)

[CHECK TYPE]  deeded space, PIN:

14 If Designated Storage is Included: # of space(s)
15

State

Zip

County

Permanent Index Number(s): 21303100240000

11
13

City

[CHECK TYPE]  deeded space, PIN:

■ Multi-Unit


; identified as space(s) # 3
; location Back Yard
 limited common element  assigned space.
; identified as space(s) #
; location
 limited common element  assigned space.

16 3. PURCHASE PRICE AND PAYMENT: The Purchase Price is $ 270,000.00

. After the payment of Earnest
Money as provided below, the balance of the Purchase Price, as adjusted by prorations, shall be paid at Closing in
18 “Good Funds” as defined by law.

In Process

17
19

a) CREDIT AT CLOSING: Provided Buyer’s lender permits such credit to show on the final settlement statement

20

or lender’s closing disclosure, and if not, such lesser amount as the lender permits, Seller agrees to credit
$ 0.00
to Buyer at Closing to be applied to prepaid expenses, closing costs or both.

21
22

b) EARNEST MONEY: Earnest Money of $ 3,000.00

23

3

27

shall be tendered to Escrowee on or before
Business Days after Date of Acceptance. Additional Earnest Money, if any, of $ NA
shall
be tendered by July 22
, 20 25
. Earnest Money shall be held in trust for the mutual benefit of
the Parties by [CHECK ONE]:  Seller’s Brokerage;  Buyer’s Brokerage;  As otherwise agreed by the Parties,
as “Escrowee.” In the event the Contract is declared null and void or is terminated, Earnest Money shall be
disbursed pursuant to Paragraph 27.

28

c) BALANCE DUE AT CLOSING: The Balance Due at Closing shall be the Purchase Price, plus or minus

24
25
26

29

prorations, less Earnest Money paid, less any credits at Closing.
30 If Home Warranty applies, check here  and complete Optional Paragraph 33.
31 4. SELLER CONTRIBUTION TO BUYER BROKERAGE COMPENSATION: [INITIAL ONLY ONE OF THE FOLLOWING
32 SUBPARAGRAPHS a OR b]

[INITIALS] ____ ____ ____ ____ a) Seller agrees to pay to Buyer’s Brokerage [CHOOSE ONLY ONE]:  0
% of
34 Purchase Price; or  $
on Buyer’s behalf to be applied to Buyer’s Brokerage compensation.
33
35

[INITIALS] ____ ____ ____ ____ b) Seller will not pay Buyer’s Brokerage compensation.

36 5. CLOSING: Closing shall be on August 15

, 2025
or at such time as mutually agreed by the
37 Parties in writing. Closing shall take place at the escrow office of the title insurance company, its underwriter, or
38 its issuing agent that will issue the Owner’s Policy of Title Insurance, whichever is situated nearest the Real Estate.
39 6. POSSESSION: Unless otherwise provided in Optional Paragraph 35, Seller shall deliver possession to Buyer at
40

Closing. Possession shall be deemed to have been delivered when Seller and all occupants (if any) have vacated the
41 Real Estate and delivered keys to the Real Estate to Buyer or to the office of the Seller’s Brokerage.
42 7. FIXTURES AND PERSONAL PROPERTY AT NO ADDED VALUE: All of the fixtures and included Personal Property
43

are owned by Seller and to Seller’s knowledge are in operating condition on Date of Acceptance, unless otherwise
Buyer Initial
Buyer Initial
Address: 7656 S Colfax Ave Chicago, IL 60649
Page 1 of 14

Seller Initial

Seller Initial
v8.0

Docusign Envelope ID: 28F04E4B-F39E-4802-92BA-75D9693EEF74
1895EED2-18E5-4B31-A081-D91C8B49D3E4

44

stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing, and well systems
45 together with the following items as they exist at time of presentation of offer at no added value by Bill of Sale at
46 Closing [CHECK OR ENUMERATE APPLICABLE ITEMS]:
47

Refrigerator(s)

Electronic / Media Air Filter(s)

48

Wine/Beverage Refrigerator

Sump Pump(s)

Built-in / Attached Shelving

Pool Equipment

49

Freezer(s)

Sump Pump Battery Backup

Wall Mounted Brackets (AV/TV)

Sprinkler System

50

Oven / Range / Stove

Reverse Osmosis System

including hardware

Invisible Fence, Collar

51

Dishwasher

Backup Generator System

Ceiling Fan(s)

& Remote

52

Trash Compactor

Water Softener (unless rented)

All Tacked Down Carpeting

Interior Security System

53

Microwave

Propane Tank(s) (unless rented)

Storms and Screens

Satellite Dish & Equipment

54

Garbage Disposal

Smoke Detectors

Fireplace Screens / Doors / Grates

Smart Thermostat

55

Washer(s)

Carbon Monoxide Detectors

Fireplace Gas Log(s)

Video Doorbell

56

Dryer(s)

Garage Door Opener(s) with

Outdoor Shed

Surround Sound System

57

Water Heater

All Transmitters

Outdoor Playset(s)

Home Theater / Projector

58

Central Air Conditioning

Intercom System

Planted Vegetation

Surveillance System(s)

59

Window Air Conditioner(s)

Security System (unless rented)

Hardscape

Electric Vehicle Charging

60

Central Humidifier

Light Fixtures (as they exist)

Attached Gas Grill

System

All Window Treatments & Hardware

Above Ground Pool

61 If Alternative Energy (solar panels) apply, check here  and complete Optional Paragraph 34.
62 Other Items Included at No Added Value: NA
63
64 Items Not Included: NA
65

In Process

Seller warrants to Buyer that all fixtures, systems and Personal Property included in this Contract shall be in
66 operating condition at Possession except: NA
.
67 A system or item shall be deemed to be in operating condition if it performs the function for which it is intended,
68 regardless of age, and does not constitute a threat to health or safety.
69 8. FINANCING: [INITIAL ONLY ONE OF THE FOLLOWING SUBPARAGRAPHS a, b, OR c]
70 ____ ____ ____ ____ a) FINANCING CONTINGENCY: Not later than forty-five (45) days after Date of Acceptance or
71

five (5) Business Days prior to the date of Closing, whichever is earlier, (“Financing Contingency Date”) Buyer
72 shall provide written evidence from Buyer’s licensed lending institution confirming that Buyer has received
73 financing approval subject only to “at close” conditions, matters of title, survey, and matters within Buyer’s control
74 for financing as follows: [ CHECK ONE ]  fixed;  adjustable; [ CHECK ONE ]  conventional;  FHA;  VA;
75 ■
 USDA;  other NA
loan for 96.5 % of the Purchase Price, plus
76 private mortgage insurance (PMI), if required, with an interest rate (initial rate if an adjustable rate mortgage used)
77 not to exceed 7
% per annum, amortized over not less than 30
years. Buyer shall pay discount points not
78 to exceed 1
% of the loan amount. Buyer shall pay origination fee(s), closing costs charged by lender, and title
79 company escrow closing fees. [CHECK IF APPLICABLE]  Buyer financing shall be contingent upon Buyer
80 obtaining secondary financing or grants as follows: NA
81

If Buyer, having applied for the financing specified above, has received a written rejection of the financing
82 application, and serves notice as provided in Paragraph 28 (hereinafter referred to as “Notice”) of same to Seller
83 not later than the Financing Contingency Date or by any extended financing contingency date agreed to by the
84 Parties, this Contract shall be null and void.
85

If Buyer has not received a written rejection of the financing application, but, not later than the Financing
86 Contingency Date or any extended financing contingency date agreed to by the Parties, has provided to Seller
87 Notice that Buyer has not yet received such written evidence of financing approval, this Contract shall be voidable
88 at the election of either Party by giving Notice to terminate this Contract to the other Party. If prior to the Seller
89 serving such Notice to terminate, Buyer provides written evidence of such financing approval, this Contract shall
90 remain in full force and effect.
91

Upon the expiration of ten (10) Business Days after Date of Acceptance, if Buyer has failed to make a financing
Buyer Initial
Buyer Initial
Address: 7656 S Colfax Ave Chicago, IL 60649
Page 2 of 14

Seller Initial

Seller Initial
v8.0