Closings have been underway at The Legacy at Millennium Park, 60 E Monroe St, long enough for a number of resales to start popping up inside the tower. Of the 10 units listed by companies other than Equity Marketing Services (Legacy’s exclusive brokerage), at least three are listed for amounts less than their closing prices.
The one-bedroom / one-bath unit #2405, for example, was listed for $389,900 back in 2007 and closed last month at $397,161. Last week it went back on the market for $374,900. Another home in the same tier, unit #3505, sold for $443,390 last month and was relisted today at $420,000. The one-bedroom / 1.5-bath unit #2906 was listed at $448,000 last week, little more than two months after closing at $454,900.
These are minimal reductions — somewhere between 1 and 6 percent per unit — and there are several instances of resales being listed above their original sale prices, but it’ll be interesting nevertheless to watch resale trends here as Equity continues to market its unsold units. Equity’s listed units, which don’t represent all of the new homes available in the tower, are priced from the $480s for a 929 square-foot one-bedroom up to $4.26 million for a 4,757 square-foot three-bedroom penthouse.
Every month, Keller Williams agent Tricia Fox rents a trolley and guides Realtors and buyers through open houses of similar units in the Streeterville, Gold Coast, River North, and Loop neighborhoods. In December, for example, she took guests to a variety of new-construction condos. Three weekends ago she focused solely on three-bedroom units.
The first place we visited was unit #3702 at the Fordham, at 25 E Superior St. The home’s current owners bought the unit new and have used it as a second home, Fox says. Now they’re selling it for $1.43 million. Tricia showed me around the home and pointed out some of its features; later we went down to a similar unit on a lower floor, where I was able to see how much a few changes in finish can change the nature of a home. (You’ll see that unit in another video.)
Unit #3702 comes with one garage parking spot and the option of a second for an additional $45,000. Estimated monthly assessments are $1,666, and taxes are $15,711, according to Fox’s listing.
Climb up the Fordham, 25 E Superior St, and you get a pretty clear view of your River North and Gold Coast surroundings. The 37th floor was a good place to see the three new towers on North State Street between Delaware Place and Walton Street — Walton on the Park (above), The Elysian (featured prominently in the photo at right), and Ten East Delaware (the sandstone-clad tower to the left of The Elysian).
I visited the Fordham a couple weekends ago during Tricia Fox’s whirlwind trolley tour through several luxury condos. Check back later for a short video from inside this Fordham residence.
The Forest Glen Community Area encompasses the Northwest Side neighborhoods of Sauganash and Edgebrook, as well as the “micro-neighborhoods” of Middle Edgebrook, North Edgebrook, Old Edgebrook, South Edgebrook and Wildwood. The area that’s commonly referred to as Forest Glen today, however, is a small pocket south of the Indian Road Woods forest preserve, bounded by Metra’s Milwaukee District North line, the Chicago River, and Cicero, Foster, and Forest Glen avenues.
The neighborhood, described by its community club as “Chicago’s Finest,” comprises about 550 homes. The eight that are on the market right now — all single-families — were built between the early ’20s and late ’60s, have two to four bedrooms and one to two baths, and range in price from the $220s (a short sale situation) to the $570s.
Not every story we add to our Chicago Real Estate News feed warrants “top story” status or a “quote of the day” post, but that doesn’t make it any less interesting. You’ll find some of these good reads in our Chicago Real Estate News Weekend feed.
Can’t keep up with YoChicago throughout the week? Here are some stories you may have missed:
Introducing our Weekend feed — interesting stories from Chicago Real Estate News
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If you subscribe to the Time Out Chicago or Chicago Agent mailing list, you probably found this ad in your inbox this morning:
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Closings have been underway at The Legacy at Millennium Park, 60 E Monroe St, long enough for a number of resales to start popping up inside the tower. Of the 10 units listed by companies other than Equity Marketing Services (Legacy’s exclusive brokerage), at least three are listed for amounts less than their closing prices.
