In an effort to curb holding and advertising costs, the folks over at 200 North Dearborn in the Loop are holding a clearance-style sales event at 6 p.m. on Thursday, July 12.
American Invsco, who is developing and marketing the high-rise conversion, will offer one-night-only prices on its 309 studio, one- and two-bedroom condos. According to American Invsco’s Web site, event prices range from the $190s to the $480s.
The event will be held at Century Tower, 182 W Lake St, and will run on a unique concept. Buyers, who must pre-register with American Invsco, will be given a personal digital assistant (PDA) when they come in. There will be a countdown to seven o’clock, at which time the PDAs will go live and the selection process will begin. Using the PDAs, buyers can then select their units digitally in a first-come, first-served fashion. A champagne toast and a Greek dinner will follow the buying.
Prices will increase approximately 10 percent the next day, according to Stefanie Neuman, sales manager for 200 North Dearborn.
“We wanted to be the lowest priced building on the market, at least in the downtown area,” Neuman says.
The condo prices include upgrades such as granite counters and new tile, lighting, paint and woodwork. Buyers can also opt to take the units as-is, in which case they can choose from three incentive packages:
- 6 percent off the unit price
- 24 months of paid assessments and taxes
- 12 months of paid assessments, 12 months of paid taxes, 12 months of mortgage payments
The building features an indoor pool, outdoor sundeck, door staff and fitness center, and is connected to the Chicago Pedway.
Parking is available for $43,000 to $48,000 per space.