30 W. Erie in River North is 60% sold
Something is going on at 30 W. Erie, the new mid-rise building at the corner of Erie and Dearborn in River North.
The building only has 20 units (with only two per floor) and has been marketed for several years. Prices started around $1.2 million for 2200 square feet.
The building was completed earlier this year but only 12 of the 20 units were sold.
Suddenly, 4 more units are under contract, leaving only 4 remaining.
Can someone say “price reduction”? Or maybe “special incentives”?
The prices on the listing don’t show any reduction, but that doesn’t mean the developer isn’t throwing in some kind of incentives or they won’t close for much less than the list.
I find it too strange that in this slowing market at this time of the year that suddenly four of the units would have contracts at these price points. Anyone have any inside info?
The remaining four units range from:
- Lowest priced: Unit #602: three bedroom, 2.5 baths, 2288 square feet, 1 car parking at $1,225,000
- Highest priced: Unit #1201: three bedroom, 2.5 baths, 2775 square feet, 1 car parking at $1,624,500
The layout on these units is different from what most new construction is offering today. The kitchen is actually completely separate from the living area and has its own eat-in area reminiscent of the older vintage luxury buildings.
30 W. Erie [website]
I like this building. Very unique to get onle 2 units per floor in River North, 1 street over from Whole Foods, etc. I don’t think 1.2 million is a terrible price for 3 bed 2.5 bath.