September 29, 2007 - We’ll highlight 235 Van Buren to close out the week. CMK Development Corporation announced plans for this tower back in January. As with most high-rise development projects, the real challenge after getting the go ahead from the Plan Commission will be to sell the required amount of condos to qualify for construction financing.

The developer held a kick off sales event on September 7th. There have since been unconfirmed sales figures floating around that vary widely from 50 to 70 percent and there must be some truth to at least the lower of those numbers because demolition work and some site ground prep work has occurred. CMK is marketing most of the units towards buyers who are looking for a condo in the price range of under $350,000, with some as low as $170,000.

The forty-eight story tower is slated to contain around 714 individual condo units. Interestingly, there are only 570 deeded parking places planned. The delivery date for the condos would be sometime in the first quarter of 2009. Architectural firm Perkins & Will are the designers of 235 Van Buren and this project is the biggest they’ve tackled thus far.

If you’re not quite sure a new condo is an investment you want to make right now, there are plenty of Chicago Apartments available for rent.

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This entry was posted on Saturday, September 29th, 2007 at 7:30 pm and is filed under Luxury Condos(t) , News(t) . You can leave a response.