December 31, 2007 – With quite a bit of activity going on at the CityFront Plaza development it’s a good time to refresh our memory about the high-rises going up there. The St. Clair, which is the second of three towers planned for the block-sized site, should begin construction soon according to developer Centrum Properties. First occupancy is planned for 2009. The 41 story St. Clair will house 253 condos and showcase a 10,000 square feet of retail space plus restaurant.

Back in September, Lehman Brothers sold out their interest in the CityFront Plaza to partner Centrum. Lehman had taken over the project in 2003 after developer Raymond Chin couldn’t repay loans. Centrum became a partner with Lehman in 2005 and the project took off from there.

Sales began in May for the St. Clair and the last reported figures put about 35 percent of the units sold, but with such keen interest in this development that number has probably risen. There will be 46 fully furnished In-Town Suites on floors 13 through 35. These suites come with everything from linens, flat screen televisions, a full-sized bath and European kitchen. There will also be a selection of one to three bedroom condos and two to three bedroom penthouse suites. The St Clair Club is designed to be a furnished lounge complete with fireplace exclusively for residents where a Continental breakfast is served and plenty of relaxation is on tap.

It’s nice to see a Chicago Luxury Condos success story and CityFront Plaza seems to be just that.

[tags]St.Clair at CityFront Plaza, Chicago Condos, Chicago Real Estate[/tags]

This entry was posted on Tuesday, January 1st, 2008 at 8:24 pm and is filed under Mortgage Information.