Compare and contrast: Two-bedroom condos at Emerald and Pure

“Great deal! A ‘free’ scooter and ‘free’ parking space for your overpriced condo that’s almost $100/ SF higher than anywhere else around it! Sign me up!”

- Stokes, who wasn’t exactly wowed with Emerald’s incentive package in late January.

To tell the truth, I had forgotten all about about Stokes’ comment until today. But I was reading up on Emerald’s condominiums a little while ago and ran across that old post. It started me wondering – how much pricier was a two-bedroom condo at Emerald than, say, a two-bedroom condo at Pure (another West Loop project slated for deliveries in mid-2008)?

At face value, Emerald (located at 120 S Halsted St) does have the more expensive units, with some two-bedroom / two-bath condos priced up in the $520s. The two-bedroom / two-bath units at Pure (24 S Morgan St), top out around $400,000.

But take a look at floor space. All of Pure’s two-bedroom condos are 979 square feet in size, with prices ranging from the $360s to $400s. That’s $368 to $408 per square foot.

At Emerald, two-bedroom units start at 1,250 square feet. Prices there range from the $380s to $460s, so you’re paying more overall, but those prices come out to $304 to $368 per square foot. So no, Emerald isn’t exactly overpriced compared to a neighbor when you’re looking at the two-bedroom market.

Both buildings offer a lot of the same features – hardwood and bamboo floors, stainless-steel appliances, granite and stone in the kitchens and bathrooms, communal lounge and bar areas, etc. But people who want fresh air will notice that the floor plans for Emerald’s two-bedroom condos call for at least one 74-square-foot balcony, which is 28 square feet larger than the balcony included with Pure’s two-bedroom units (PDF).

To be fair, Pure is a little more private; the building is on Morgan between Madison and Monroe streets, and it comprises only 67 condominiums. Emerald, on the other hand, consists of twin 12-story building with 106 units in each. So if you prefer having fewer folks on your floor and being a little removed from Halsted Street, Pure might be your place.

Now, about those deals that left Stokes so unimpressed. Emerald is still offering free garage parking spaces valued at $35,000, $5,000 in upgrades, an EVT-168 electric scooter valued at $2,000, and $1,000 off closing costs through March 2.

Pure, on the other hand, is still charging $35,000 for garage parking and is not advertising any deals at the moment.

So, how’s that scooter looking now?

Related posts:

1. Compare and contrast: Facts and figures on Trio’s mid-rise and tower condos
2. Sales update: Property Consultants helping investors rent out Emerald condos
3. Sales update: Big reductions afoot at Pure
4. Buying no longer an option, as Pure goes rental
5. Yo’s year: Whatever happened to Pure?