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The Astoria Tower Residences & Spa, under construction at 8 E 9th St in the Loop, is still on pace to a late summer or early fall completion, says Tom Hartmann of Coldwell Banker Residential Brokerage. The tower’s sales team is gearing up for a move into an on-site sales center in January, and homes on the building’s first eight residential floors should be ready for delivery by February.
The tower still has about 75 units for sale, just as Mark reported this summer. Hartmann says interest in Astoria has grown with the building itself, and he expects more people to sign on the dotted line once they can get inside a unit and look around, instead of trying to visualize their homes from floor plans alone.
The available condos range from 683 square-foot “junior” one-bedrooms starting in the $230s to two-bedrooms with almost 1,500 square feet, priced in the $710s. Buyers will get one year of free assessments and a $2,500 upgrade credit on finishes, and can purchase indoor parking spaces from $40,000 to $42,000, Hartmann says.
- Rate and review Astoria Tower at NewHomeNotebook.com.
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{ 19 comments }
I don’t know whether to yawn or cringe?
1. 2BR in the $710K – Good Luck with that, when
you could get a Townhome in the South Loop
with 2500 sq feet for less than that.
2. Developer – seems odd that their site does not
talk about the developer principles on this
project but refers to the LLC. Who are the
developer and architect principles on this
project again?
you dont want to know the developer lets just say that all of his projects are in forclosure but this one for now. I know him very well Bill Warman
Freind,
Don’t you realize that decent people are repelled by your sort of anonymous attack?
What’s your interest in slithering around here?
Let me guess – you’re a contractor who’s in a dispute with the developer and thought you’d try a little high-tech knee-capping?
Well decent people name one, for sure your not talking about the developer. Slithering funny, knee-capping even better. As for who I am lust just get to that later. I know much about this project and all of them, you will see forclosure will come to this project. It is 6 mil over budget and the GC is going to be gone soon. This is the same thing that happened to another project close by. Lets just say that the developer is a full time Defendant not a developer. Dont get me wrong he is a nice guy but developer well you will see.
Freind,
I’ve deleted an earlier comment I made, and your response. I misinterpreted your comment, above.
I note that you’re using a different e-mail address this time out, since the earlier one supported my guess that you’re a contractor with some skin in this game and a reason to spread poison.
I thank You very much, I need not, any don’t wish to spread poison. I really thank you for not takening that message as it was. I just thought the mear word knee-capping is very very super funny. Slithering funny, words like this make me laugh. I mean no harm to anyone. I’m sure all will be well. If im a contractor or not means nothing. I’m someone who’s concerned. I hope you understand that. There are people I know behind this project that are well funded and the project will turn out fine. I just think that this is a cool building and I dont what to see something bad happen to it. Like Praire tower in the south loop. I was involed in this project to provide V.E. service. To save money in the project not a contractor a consultant. I have nothing bad to say really just worried.please dont take any of my comments other wise.
Freind, inform me exactly why you are so worried in the Astoria project? Give me a heads up.I signed a contract with them nearly 4 years ago. I’m a bit frustrated now. I didn’t think it would take so long.And, the last time I upgraded, the girl there was so rude and impatient. Also, I call now and then to get an update on my unit and nothing. I’m thinking seriously of getting an attorney to void my contract.
JJ,
I am in the same situation as you are and I have been talking to a lawyer about getting out of this BS contract and getting my deposit out of escrow somehow… This is seriously disrupting my life right now as I have to plan all my life moves on this such as relocation. Not to mention they aren’t constructing the pinnacle on top of the building which is one of the main reasons why I fell in love with this building and signed the contract!
I’m beginning to cry uncle, thinking first move-in’s late 2009 (nearly four years and waiting). I may just cut my loses, down payment and upgrade money and move on. Mortgage interest rates are creeping up and that $8000 Home Tax Credit deadline is approaching fast, it seems.There are plenty of bargains to be had. The Astoria people are less than truthful about what is happening. Many months without an official website? NO advertisements in newspapers…are they serious about sales?
30 yr. home mortgage interest rates increased from 4.8 to 5.5% in a short span of time. What are some developers waiting for? 8%. I’m jumping off the Astoria ship. I’m done, 18k down the drain. Maybe I’ll make it up with a good deal elsewhere. I have had my life on hold long enough.
Well i have been trying to close on my unit for the last two months the bank said no closings will be done because of contractors not being paid by the developer. The bank said there are 174 sales and all of these units have tried to close but the title company will not allow them to close, there are completed units only the top 7 floors are not complete and i talked with the architect and he is going to do what he can with the project but he said the other architect was fired and he took it over. not sure what will be next maybe the other guy that commented was true not sure. i put down 21,900 just in upgrades and my lawyer said i cant get that money back if this building developer dont start to close units. let’s hope for the best.
I just recently took a tour of the building. It’s quite nice on the inside and the views are lovely. My only concern is that since many of the pre-construction contracts have not been closed, that many will default. Does anyone else have shared opinions or comments?
I recently took a tour of the building and construction is quite shoddy. In one lower unit the engineered wood floor bubbled up as I walked on it. Hallways are very narrow and visibly cheap. What I hated the most was the tiled ceiling. Is this really “art deco?” I wanted to upgrade to solid wood floors, but nothing was available but laminate and engineered. I opted for the bamboo. Bamboo is a grass. Contracts haven’t closed not because of buyers but because construction is far from complete. From what I’ve seen, construction won’t be completed until perhaps Spring 2011. Really. On my visit during the middle of the week, there were no construction workers. I was told, “they are gonna resume work on Monday.” The building is complete on the outside, but the inside is mostly studs from the third floor on up.
So, what is the latest on this building? I heard from a buyer on a different Warman project, Chess lofts, that it was communicated to them that the developer is going bankrupt on that project.
JJ Said: “Not to mention they aren’t constructing the pinnacle on top of the building which is one of the main reasons why I fell in love with this building and signed the contract!”
I’m really sorry to hear this. I used to live in the South Loop and I had a view facing west towards this building. I was not thrilled to have this building block my view, but I was glad it was well designed. Like what Trump did with the spire on his tower, this upsets me. I understand why developers cut costs, but it sucks for people who love Chicago architecture. Without the pinnacle this is a miss from a design standpoint and an underachievement from the developer.
What happens to home buyers if they have a contract for a unit in a building being built by a developer in bankruptcy? I’m speaking in general terms and not specifically to this project.
Concerned buyer,
A developer might be in bankruptcy and one or more of his / its projects might not be.
If the project itself is in bankruptcy, the contract is not automatically voided. Beyond that, it’s difficult to give general answers because so many permutations are possible and the answer will vary with each.
Wasn’t a variant of this question asked yesterday as well? But from a buyers foreclosure perspective? I can’t find the reference to it.
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