Skybridge Has Won Architectural Awards But Can’t Win Buyers
Skybridge, the tallest building in the West Loop at Halsted and Washington, has won architectural awards since its launch in 2003. You can read about the building’s innovative design at their website.
Despite all of the alcolades, the building still is not sold out, four years after closings started in the building. In an ad for the building, it says there are still 7 units available from the developer (out of 237 in the building). They are competing with nearly 20 other re-sale units for sale.
The views from this building are pretty incredible on the east side-with the entire loop spread before you. You do have to contend with the Kennedy Expressway right below your windows however (also on the east side.)
A couple of the one bedroom sellers seem to be struggling to maintain values (there are apparently two addresses for the building- I don’t know why):
Unit #1009 at 1 N. Halsted: 1 bedroom, 1.5 baths, 950 square feet
- Last sold in December 2004 for $293,000
- Currently listed for $289,000 plus $35,000 for parking
- The picture below is of unit #1009
- Tony Hanas at Coldwell Banker has the listing
Unit #1306 at 737 W. Washington: 1 bedroom, 1.5 baths, 1040 square feet
- Last sold in December 2006 for $314,500
- Currently listed for $310,000 plus $35,000 for parking
The one bedrooms might not be indicative of the appreciation in the building (for various reasons.)
One of the two bedrooms is in what sounds like pre-foreclosure:
ELEGANT-IMPRESSIVE EXTRA LARGE 2BDRM/2.1BTHS W/AMAZING CITY VIEWS-SOUTHWEST ALL THE WAY TO NORTHEAST-IN AWARD WINNING SKYBRIDGE-2 CAR GARAGE PARKING INCLUDED. PROPERTY BEING FORECLOSED. PRICED TO SELL QUICKLY. HURRY AND MAKE OFFER!!!
Unit #1607 at 737 W. Washington: 2 bedrooms, 2.5 baths, 2187 square feet
- Last sold in May 2006 for $1 million
- Currently listed for $600,000 including 2 parking spaces
- Century 21 McMullen has the listing
Is this a “deal”? Below are pictures of the kitchen and the bath:
Seems the finishes in the building can vary greatly depending on the unit.
Skybridge appears to still be struggling. Anyone else with any insider info?