Flipper Alert: Investors Nervous at MoMo?
The first flip has appeared on Craigslist for MoMo, the new Smithfield building at Randolph and State Street across from the Borders and Macy’s (aka Marshall Fields) in the Loop.
If you walk by on State Street, the lobby looks completed. The Joffrey Ballet will have its headquarters in the base of the building and expects to be moving in in early 2008.
The Craigslist flip indicates that the closing will be in April 2008 (but the unit is on a higher floor.)
31st Floor Unit: 2 bedroom, 2 bath, 1365 square feet, south east view
- Currently for sale for $600,000 which includes a parking space
- Asking $10,000 down to initiate the contract plus $5,000 on February 1, 2008
- MoMo prices went as high as $530,000 originally from the developer