550 St. Clair Promotes “Special Prices”
With 550 St. Clair in Streeterville nearly completed, the developer is getting more aggressive in trying to sell the remaining units.
There was a half page ad in the Sunday Chicago Tribune in the Perspectives Section (interesting that it was not in the real estate section) promoting: “Special Prices on Remaining Units.”
The ad didn’t say what was meant by “special prices”.
But if you go to the website it is promoting: “One Bedroom Homes Under $400K- Including Parking.”
That would seem like a “deal” compared to other nearby newly completed buildings where the one bedrooms are selling for much more than $400,000 as flips by investors.
The website says 60 Day Delivery.
Stay tuned.
550 N. St. Clair [website]
They have many 1 bedroom floor plans and studio units so who knows what they meant by this advertisement. I wouldn’t pay 400K for a 600 sq ft studio or a unit with an “alcove” bedroom.
Streeterville Realtor: I agree that the promotion is short on details. We don’t know if it’s a “normal” one bedroom or one of the junior one bedrooms. I doubt it’s a studio unit because they DID advertise it as a 1 bedroom- but it’s all symantics.
if u look at their website it is also short on details. They don’t list the dimnensions of the floorplans. Does anyone have pics of any of these units yet?
Hi Neil,
They never gave room dimensions ever. Even at the sales center, the floor plans have no room sizes. They give you a ruler and tell you that 1 inch is approximately … ft
why would they do that? flexibility to change plans ont the fly?
I guess, it was a bit disconcerting for 1 of my clients….He ended up buying at 600 N Fairbanks and loves his new unit.
as did I. I lookedv at st. clair and ended up w. Fairbanks also.
Some developers refuse to give the square footage because of possible lawsuits. Though that is much more common in New York than it is in Chicago. Most of the new construction buildings in Chicago give the square footage.
Here is an article about the dilemma regarding square footage in New York: http://nymag.com/realestate/realestatecolumn/41815/
No pictures of the interior yet (outside of the “renderings” the developer has put out on the website from the model unit.)
I looked at St Clair and 600 Fairbanks and decided Fairbanks was a much better property. For one, the appliances are better than any surrounding property. It is a beautiful building!!!!
I went to the building a few weeks ago and they are willing to deal huge incentives. i saw a 500k 2 br and when i said my budget was 400k they encouraged me to still make an offer – making me think they would come down significantly. even with that potential discount, the living rooms were really small – especially when you consider the odd kitchen layouts that are only against one wall. i opted for a different building.
Bridget: Which building?