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Given all the mixed messages our readers have been hearing about Glashaus, we felt we were long overdue for a comment from the Piedmont Group, which is developing the Brininstool & Lynch-designed high-rise at 1327 S Wabash Ave.
I’ve been unable to reach anyone at Piedmont via phone or e-mail, but this morning, sales consultant David Wiencek of @properties forwarded along the following two-sentence message, which he attributes to the developers:
the project has not been cancelled but because of the economic climate the delivery date is uncertain. The developer will work with buyers who are inconvenienced by the delay.
Make of that what you will. Until we hear otherwise, we’ll keep Glashaus on our list of dustbunnies, because while it may be stalled, it’s still not dead.
Pre-construction prices on Glashaus’ unsold units ranged from the $240s for a 673 square-foot one-bedroom / one-bath up to the $740s for a 1,565 square-foot two-bedroom / two-bath with a den as recently as November.
NewHomeNotebook:
• Rate and review Glashaus
• View our list of new South Loop condo high-rises
• View our list of Chicago high-rises with swimming pools
• View our list of high-rise dustbunnies
Related posts:
• Video: A glimpse of Glashaus (Nov. 19)
• Construction checkup: Glashaus (April 9)
Related posts:
{ 8 comments }
I really hope this project gets cancelled and these poor people get their money back. This is a really good location where a much better commercial property can get built for the thousands of nearby residents. Move residential further south and west.
Commercial property as in office space or retail? There’s no way an office tower will be built in the South Loop in the near future, possibly ever.
A message from Monty Python …
“Make of that what you will.”
Retail
This tower will have retail, though. One or two story retail without anything above seems like a wasted opportunity given the location and proximity to transit.
Anon1,
Us old-timers used to refer to 1- or 2-story retail on downtown parcels as a “taxpayer” – i.e., something to cover the nut until the market comes around.
Speaking of there being little commercial development/high rises in South Loop. Thats an excellent point and it does make me wonder. Especially the northern part of South Loop (N of Polk or 9th st) seems like an ideal place to build office high rises.
Bob,
Given the vacancy rate in the downtown office market, you’re not likely to see new office high-rises for a while.
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