The Legacy at 60 E Monroe: How Well is it Selling?
There is a listing from Baird & Warner for 60 E. Monroe that keeps popping up in the Sunday Tribune. I was confused about it until I realized that it was for a unit in The Legacy– which is currently under construction and not scheduled to be completed until 2009 or 2010, at the earliest.
These are pictures of the “views” you’d have from the unit. But notice that 340 on the Park has not yet been built (nor most of LakeShore East).
Trump Tower is also missing.
As is One Museum Park to the South.
It’s amazing how much the skyline has changed in the last past three or four years.
Question is, how well is this building selling? A lot of investors bought in this building as it was the heyday of condomania.
There are 1 bedroom, 1.5 bath units still for sale starting at $559,000 (without the parking.) They’re 1189 square feet.
They’ve been about 80% sold for a long, long time.
Unit #6902: 3 bedrooms, 3.5 baths, 4757 square feet, 1 car parking
- Currently listed for $4.25 million
- Listing states: ULTRA LUXURY OPPORTUNITY AT A FANTASTIC VALUE.
- Assessments of $3,005 a month
Kim Jones at Baird and Warner has the listing.
The Legacy at Millennium Park [website]
fyi- 30 more floors are being added to BCBS building as well.
What is BCBS?
Blue Cross/Blue Shield. Just east of Columbus on Randolph. It’s going to block (basically?) all of the west exposure of 340.
Yes, and it will block a lot of the Aqua units; hence all the lawsuits.
Why hasn’t there been any chatter about the Aqua?????
Yes, it buyers did their due diligence, they would have known this. Plans were approved by the city years ago and work has begun.
No basically about it, BCBS will rise to 743′, 340 on the Park topped out at 672′.
Grant: Why will it block Aqua units? That building is a half block away and basically surrounded by high rises on all sides. You’re not exactly buying in there for the “views” (unless you’re on a really high floor.)
Aqua is nearly sold out- which is why I haven’t chattered about it. Until it gets close to closing, what is there to chatter about?
What are the lawsuits? From owners in 340 OTP or others?
This is the first I’ve heard of lawsuits relating to the BCBS vertical expansion. The Lakeshore East maps have shown the ultimate height of that building for as long as I can remember.
Hmm, just looked…
http://www.lakeshoreeast.com/media/maps/sitemap.pdf
This PDF map USED to show the heights of all the existing buildings but I guess it no longer does.
However, it still shows “Site O” directly south of Aqua. How could anyone complain about BCBS when a tall building has always been planned for the site in between the two buildings?
Oh, and speaking of Aqua, if you can’t stop by and take a look at the construction progress, search around for some photos. It is really shaping up to be an AWESOME building. Of course the finished product will be dependent on the shade of paint chosen, but the windows are up on the first 3 residential floors and it looks great!
“This is the first I’ve heard of lawsuits relating to the BCBS vertical expansion. The Lakeshore East maps have shown the ultimate height of that building for as long as I can remember.”
haha, me too. first time i’ve heard of lawsuits v. BCBS.
One more anecdotal evidence of the almost irrational rush to buy condos without proper due diligence from some buyers.
When the BCBS was constructed it was public knowledge (boasted in the media) that the BCBS building was the first building to be vertically expandable to meet future demand.
And these lawsuits have zero chance for victory/settlement as the law is firmly established on BCBS’s side. Basic legal principle: sorry but you’re SOL.
My what a difference two years makes. One bedrooms start at 350k for 875sqft. Not sure if it includes parking.
It appears a rush for the exits on this building as redfin shows at least 33 units for sale.
I wonder what happened to the people who bought the 1/1.5 mentioned above for 559k without the parking?