February 29, 2008 - One of the biggest sales success stories a few months ago was 235 W Van Buren contracting just under 400 of its 714 condos in just one quarter. Those initial numbers got the attention of the Appraisal Research Counselors, who called the development the “absorption leader” of 2007, but also pointed out that a good deal of those early sales were probably investors drawn to the competitive prices of the condos.

Since that primary sales rush, not a lot of units have moved lately. Construction on the building is progressing and first deliveries are still scheduled for mid 2009. Prices for a 522 square foot studio start at around $185,900 and a 1,292 square foot two bedroom unit runs from $436,900. Indoor parking runs from $31,900. Those numbers are said to have enticed a fair amount of investors. That tends to raise concerns among those who bought or are thinking of buying a permanent home there that the tower will eventually contain a large portion of rental units as opposed to actual long term residents.

Developer CMK Companies hired architect Ralph Johnson from the firm of Perkins and Will to design the tower, and there is a lot of exposed concrete in the units. Everything from walls, ceilings and pillars will showcase the material and this minimalist trend has sparked some debate among both buyers and critics alike. While the plain interiors help to keep base prices lower and give owners a blank canvas for decorating, it sometimes proves both overwhelming and costly to finish themselves. When you’re shopping for Cheap Chicago Condos, it’s best to do some research on what you are willing to compromise on in terms of design or location.

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This entry was posted on Saturday, March 1st, 2008 at 11:40 am and is filed under Luxury Condos(t) , News(t) . You can leave a response.