Crain’s: Trio, Mondial may switch to rental

“Do you think someone who has a contract for a $450,000 unit that they signed two years ago is going to close? They aren’t going to close, so why alienate the marketplace? We have to do the responsible thing.”

- Citta Development principal Jack Berger, explaining why he canceled 50 contracts at Mondial, the completed but empty high-rise at 900 W Huron St in River West. According to Crain’s, Berger and RDM Development President Robert Mosky, developer of the Trio tower at 670 W Wayman St, are in talks with their lenders to convert their projects from condos to apartments.

Related posts:

1. Mondial condos headed back to market
2. Mondial returns to market with @properties
3. Trio rentals surface on the MLS
4. Trio tower makes its open house debut
5. Jameson advertising rentals at Trio

Tagged as: 60661, Citta Development, Condos, Downtown Loop, Fulton River District, High-rises, Jack Berger, Market conditions, Mondial, RDM Development, Rentals, River West, Robert Mosky, Trio