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.

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