September 6, 2008 – For those of you interested in the Terrazio, construction on the 7 story building has finally moved above ground. Since securing a loan back in early summer, the months of June and July were busy with underground parking garage work. Now that most of that excavation is done, the Terrazio should start going vertical soon and developer Sedgwick Properties expects first move-ins by mid to late summer 2009.

Somewhere around 80 percent of the 180 Chicago condos in the Terrazio are under contract, but you can still find a good selection of two bedroom units and a few one and three bedroom layouts as well. Pricing at this Chicago real estate project has been a selling point for many buyers. At $325 a square foot, Appraisal Research Counselors ranks it the 4th lowest in the South Loop among 31 new developments they are tracking, according to an article in Crain’s. The one bedroom condos run from about $190,000 and up. The two bedroom units start in the $270,000s and the three bedroom condos run from around $410,000 and up.

The Terrazio will have a classic brick exterior as well as a courtyard. Adding to that traditional feel, the roof top will feature a wading pool and pergolas along with a sun deck and lounge. The 11,000 square feet of lower level retail space is expected to include a restaurant, yet to be named. Other building amenities include a fitness center, business center and indoor parking for $35,000.

Right now, buyers who finance through the developer will receive $2,500 for upgrades. With very competitive pricing, the Terrazio seems to be doing well among the Pre Construction Condos in Chicago.

[tags]Terrazio, Chicago condos, Chicago real estate[/tags]

This entry was posted on Saturday, September 6th, 2008 at 12:12 pm and is filed under Uncategorized.