Crib Chatter

The Elysian is a 60 story hotel/condo building being built in the Rush Street Corridor at 11 E. Walton.  It will have 188 guest suites (i.e. hotel rooms) and 51 private residences.

Interestingly, there are 7 listings on the MLS for units in the building even though the building is far from complete.  Two listings are through Baird and Warner and five are through The Luxury Sales Group LLC.  Investors getting cold feet?

I cannot tell who is actually handling sales at the project (which realtor) but it appears that neither Baird and Warner nor The Luxury Sales Group are involved.  That leads me to conclude that all seven of these units are flips.

They range in price from $800,000 for a 1 bedroom, 772 square foot condo/hotel room to a 4 bedroom, 4.5 baths, 4 car garage, 3,972 square feet condo unit for $4,170,600.  These are the developers’ pictures of what the condo units will look like:

The building was originally scheduled to be completed in 2008 but if you walk past the construstion site it is only about 15 stories up.  I don’t see how it will be completed in 2008.  2009 is more likely.

Flippers trying to flip over a year in advance?

The Elysian [website]