July 10, 2009 - It’s probably not a surprise that the more expensive Chicago condos and penthouses at area developments have in some cases had drastic drops in sales. These luxury units have also been the slowest to lower prices, but developers are starting to gradually follow the housing market down and give price reductions. 550 North St. Clair is doing just that and lowering prices on the remaining penthouses in the 26 story tower.

According to Chicago real estate developer Sutherland Pearsall, the 112 units are just over 80% sold. There are studio to three bedroom condos left and also around eight penthouse units. The studios are currently priced from the low $200,000s while the one to two bedroom condos fall in the $340,000 to $520,000 range. For one of the larger three bedroom condos at 550 N. St. Clair you’ll pay between the low $700,000s to high $800,000s. Parking will cost you another $50,000.

As for the penthouses, those residences are now priced between $1.07 million and $1.5 million. Their project website is still running the banner of “Developer Closeout…Immediate Delivery.”

Finishes include 10′ to 11′ ceilings, floor-to-ceiling windows, Brazilian cherry or maple wood flooring, Bosch and Sub-Zero appliances, full-sized washer and dryer, granite counter tops and maple baths.

You may want to check out what’s left of the 550 N St. Clair condos if you’re shopping for a new home, and you can also check out the other Chicago Condos in Streeterville while you’re at it.

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This entry was posted on Friday, July 10th, 2009 at 9:32 pm and is filed under Luxury Condos(t) , News(t) . You can leave a response.