June 2, 2010 – According to Appraisal Research Counselors’ most recent Downtown Chicago Residential Benchmark Report, there were over 55% of the new construction downtown Chicago condo and townhome projects that posted an increase when comparing how many units were sold in the last quarter of 2009 as compared to the first quarter of 2010.

While these sales numbers may seem small, they were the best that these Chicago real estate developments could do in the current housing market. Today we will list seven of teh top fourteen developments that posted the most sales contracts from ARC’s list. The other half will be listed here tomorrow.

565 Quincy lowered their prices and made 59 sales from the last quarter of ’09 to the first quarter of ’10.

200 North Dearborn also drastically cut prices and made 50 sales from the last quarter of ’09 to the first quarter of ’10.

Library Tower pn 520 South State Street has reverted back to a lender but still made 32 sales from the last quarter of ’09 to the first quarter of ’10.

Museum Park Place South on 1901 South Calumet Avenue in the South Loop posted 28 sales from the last quarter of ’09 to the first quarter of ’10.

1400 Lake Shore Drive recently auctioned off several units and recorded 26 sales from the last quarter of ’09 to the first quarter of ’10.

Metropolitan Tower, located on 310 South Michigan Avenue made 23 sales from the last quarter of ’09 to the first quarter of ’10.

Emerald on 123 South Green Street made 22 sales from the last quarter of ’09 to the first quarter of ’10.

Many of these development are FHA approved and the majority advertised some large price reductions, otherwise those sales numbers probably would have been lower. Even now you can find many Chicago lofts and townhomes being advertised at much lower prices.

[tags]565 Quincy, Chicago Lofts, Chicago Real Estate[/tags]

This entry was posted on Thursday, June 3rd, 2010 at 10:43 pm and is filed under Luxury Condos.