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 […]
Apparently, several of you have recently toured this two bedroom flip at 550 St. Clair in Streeterville. Tipsters told me that it has pocket doors that lead into several of the bedrooms. You can’t tell it from the pictures, but the master bathroom is apparently completely open into the master bedroom- ala “European style.” Basically, if you’re […]
Metropolitan Tower, at 310 S. Michigan, in the Loop is finally closing on units after seemingly years of delays. This is a conversion building that faces Millennium Park. Current building statistics: 13 units for sale 12 units for rent It’s interesting to see the sheer number of rentals. There are two 3 bedroom units and […]
There’s already been some price reductions on the one bedroom units at Helmut Jahn’s 600 N. Fairbanks in Streeterville. But now price reductions are starting on the larger units as the weeks drag on without many re-sales. I still haven’t seen any of the larger units re-sell in the building. Closings began the first week of November 2007. […]
The Marquee, at 1454 S. Michigan, began closings in January 2008. It was originally marketed as an affordable highrise. It was NOT luxury. Not surprisingly, there are flips in the building. Current statistics in the building: 21 for sale on the MLS (many are from the developer) At least 3 for rent Some of the low […]
At least one developer is confirming that not all of its buyers are closing on units. Mark Sutherland, of Sutherland Pearsall Development, developer of 550 St. Clair confirmed that slowing sales was the reason the company is going to build a hotel instead of a second condo tower in Streeterville. From David Roeder’s column in […]
David Roeder, the Sun-Times Real Estate columnist, wrote this week that a hotel/condo unit on the 21st floor has been successfully flipped in Trump Tower Chicago, at 401 N. Wabash in River North. The owners of a hotel unit on the 21st floor sold it for $899,000 after initially asking $1 million, said their […]
Here’s the latest update on 600 N. Fairbanks in Streeterville. New listings come onto the MLS weekly. Here is the current status (out of approximately 227 units): 36 for sale 14 for rent Some units may be both for sale OR rent. Closings still continue in the building. Prices are all over the place, yet hardly […]
We’ve already seen some buyers in Trump Tower Chicago at 401 N. Wabash in River North put their units “on the market” when they haven’t yet closed. But now we’re starting to see the first of the CLOSED units come back on the market. This is, of course, in the hotel/condo portion of the building, the […]
A lot of people have been wondering how long it will take before some of the flippers feel the stress of the slowing market. It is already happening at The Columbian at 1160 S. Michigan in the South Loop. The building was only 70% sold when closings began. The developer has been cutting prices and […]