Still interested in The Vetro, at 611 S. Wells, in Printers Row/the South Loop?
On March 7, the developer of The Vetro will be auctioning off 40 units starting at minimum bids of $115,000 for studios.
The website states:
“Don’t miss this once-in-a-lifetime opportunity to purchase a new luxury condo at the price you determine. Every residence sold via published minimum price.”
See details about the auction, including location and bidding requirements, as well as floorplans, here.
Here’s a breakdown of the cheapest minimum bids for each category of units:
- Was listed at $199,900 for 584 square feet
- Minimum bid of $115,000
- Was listed at $221,900 for 684 square feet
- Minimum bid of $150,000
1-Bedroom plus den:
- Was listed at $358,900 for 1002 square feet
- Minimum bid of $210,000
- Was listed at $449,900 for 1248 square feet
- Minimum bid of $270,000
2-Bedrooms plus den:
- Was listed at $551,900 for 1667 square feet
- Minimum bid of $360,000
2 Penthouses on the 31st floor:
- One was listed at $799,000 with a minimum bid of $400,000
- Second one was listed at $899,900 with a minimum bid of $415,000
Interestingly, the two units we last chattered about in the building that were seeing “special pricing” last June 2008 and in November 2008, are still on the market and are NOT part of the auction.
See our prior chatter and pictures here.
They are both still priced the same as last November.
Rebecca Farrell and Nathan Skillicorn at Baird and Warner have the listing. See more pictures here.
Unit #1603: 2 bedrooms, 2.5 baths, den, 1667 square feet
- Originally listed for $518,900
- Was listed in June 2008 as “special pricing” for $468,900 (parking extra)
- Was listed in November 2008 for $460,900 (parking included)
- Currently still listed for $460,900 (parking included)
- Assessments of $699 a month
- Taxes are “new”
Unit #1607: 2 bedrooms, 2.5 baths, den, 1525 square feet
- Was listed in June 2008 at “special pricing” for $434,900 (parking extra)
- Was listed in November 2008 at $437,900 (parking extra)
- Currently listed at $437,900 (parking extra)
- Assessments now only $499 a month (were $533 a month in June)
- Taxes are “new”
Will buyers get “deals” at this auction? Stay tuned.
If anyone goes-please report in on the frenzy.