Flipper Alert: First Flip Appears in The Emerald: 125 S. Green
The Emerald, the 212 unit two building development at 125 S. Green in the West Loop near Greektown, is nearing completion.
The first apparent flip has appeared on Craigslist (thanks to the Tipster who sent me the link.) This is a sure sign that the building will be closing soon.
Fifth Floor 1 Bedroom + Den:
About the unit:
Prime 5th floor spacious Unit-900 sq feet
1 bedroom + den.
Floor to Ceiling windows tons of light.
Unobstructed view of dowtown skyline…unbelievable view!!!!
Wired for surround sound home theater,
Pre-wired home security,
Stainless steel appliances and countertops,
Ultra chic bamboo cabinets,
Unique flooring treatments
Huge modern all marble Bathroom, garden tub with LCD TV and seperate walk-in shower, and double vanity .Walk out Balcony perfect for enjoying the view.
Ample Closet space.
In unit washer and dryer hookup
One Indoor secured heated parking space
The price?
$385,000
It doesn’t say whether or not the heated parking space is included in the price.
The listing says it’s available in May 2008.
Stay tuned.
Or, you can rent in the building. The first rental has also appeared on Craigslist:
Brand New 1 bedroom/1 bath condo with garage parking in the brand new emerald development in the heart of greektown/restaurant row. Unit is 800sq feet. Also, all utilities included in rent. Move in will be approx april timeframe.
Rental price?
$1400 a month (also isn’t totally clear if parking is included in that price or not.)
The Emerald is still selling units from the developer. As a special deal for Leap Year, they were giving away free parking. The website says the offer was good through March 2, however.
The Emerald [website]
The price is too high even if the parking space is included!
Nice, competition for renters is going to work in my favor when it comes time to get a new lease in July.
I wonder if R+D659 is going to start closings by summer. I counted the floors the other day and I think all they have left is to poor the roof.
With Emerald and Trio, renting in the “near” West Loop should be getting cheaper.
According to the Emerald’s website the 1 bedroom +den units run from $394 to 431K, making this a more reasonable price. I’ve watched the progress of the construction with interest, it looks very nice. There is a brownstone about 5 stories high with a bar on the street level directly east of the south tower, blocking a lot of the city views of the lower floors. I wonder if the pre construction buyers were aware of that. The new Starbucks is open and very busy!
I believe the $394k figure on the website is due to only higher floors being available.. the lower the floor, the cheaper the original price was for the unit.
Too bad the buyer chose stainless steel countertops over granite. I wonder what the “unique flooring treatments” refers to.
I guess the question is: buy a 900 square foot 1 bedroom plus den in the Emerald or get a 2/2 for about $50,000 cheaper in a slightly older building a block or two away.
There are plenty of bigger and cheaper units available in the immediate area.
We’ll see if there is a “premium” to living in The Emerald.
I think the area is terrific, tons of restaurants, a grocery store, etc. I would live there! Sounds reasonable, I will ask my agent for more info. Thanks!