Thanks for the reply ard! I took it to BMW after work yesterday and the drive was so embarrassing! My vehicle was quite the show stopper! When I pulled up to the dealership, everyone was covering their ears! Service people came running out to see! Lol! They said it was probably a rock stuck in between my pads and the rotor and would charge me a minimum of 1/2 hour as soon as the car is hoisted up with the possibility of it going up depending on the extent of work performed. I decided to take it home (2 blocks away) and tackle it myself.

Turns out, I had a pebble the size of a finger nail somewhat wedged between the backing plate and the rotor. Quick fix and saved myself $100! Woohoo!