February 7, 2008 – CMK Development Corporation’s 235 West Van Buren is steadily moving up out of the ground. From late last month on, a lot of activity could be seen at the construction site. More piles were dug and forms started to go up as concrete for the foundation was poured. If the weather cooperates and work progresses at the present rate, there should be no problem sticking to the early to mid 2009 delivery date for these condos.

Developer Colin Kihnke of CMK has a pretty much tried and true strategy for selling units. He tends to price them 10 to 15 percent below the average cost for similar developments. His other projects, 1720 South Michigan Avenue and 1620 South Michigan, have sold very well, and sales at 235 W Van Buren have been strong. In a previous Crain’s article, Kihnke stated that about 50 percent of the 714 units sold in the first six months of marketing.

Prices for the condos range from the upper $170,000s for studios to around $290,000 for a two bedroom and top prices hovering at the $350,000 mark. Even with the competitive pricing, buyers will still get mostly floor to ceiling windows, high speed Internet, phone and cable television hook up, European style kitchen cabinets and bathroom vanities, granite counter tops and designer lighting. For the price, it’s a pretty good deal for Pre Construction Condos in Chicago.

[tags]235 West Van Buren, Chicago Condos, Chicago Real Estate[/tags]

This entry was posted on Friday, February 8th, 2008 at 1:09 pm and is filed under Mortgage Information.