Best-Selling Downtown Developments II
Thursday, June 3rd, 2010June 3, 2010 - Yesterday we told you that according to the Appraisal Research Counselors’ most recent Downtown Chicago Residential Benchmark Report, over 55% of the downtown new construction Chicago real estate developments sold more units in the first quarter of this year than in the last quarter of last year. Most of those Chicago condos and townhomes that sold were in developments where the original prices were cut by over 50% in some cases.
Here is the other half of the top fourteen best-selling downtown development from the 4th quarter of 2009 to the 1st quarter of 2010.
Pearson on the Park, located on 222 East Pearson Street recorded 20 sales from the last quarter of ‘09 to the first quarter of ‘10.
ParkView Condominiums on 505 North McClurg Court made a modest 11 sales the last quarter of ‘09 to the first quarter of ‘10 but still landed on this list.
235 West Van Buren also posted 11 sales from the last quarter of ‘09 to the first quarter of ‘10.
Michigan Avenue Tower II on 1400 South Michigan Avenue also held an auction and made 10 sales from the last quarter of ‘09 to the first quarter of ‘10.
Prairie District Lofts on 1727 South Indiana Avenue also netted 10 sales from the last quarter of ‘09 to the first quarter of ‘10.
Parkside of Old Town on 465 West Division Street recently needed an early distribution of TIFF funds and lowered prices but made 10 sales from the last quarter of ‘09 to the first quarter of ‘10.
Union Row on 622 West 16th Street is the second Belgravia Group development to make the list and had8 sales from the last quarter of ‘09 to the first quarter of ‘10.
Buyers seemed to need some major price cuts as an incentive to purchase Chicago homes, and there are still plenty of Chicago condos for sale with reductions right now.
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