ChicagoSouth Side

Did those Woodlawn condos really sell that quickly?

by Joe Zekas on 9/26/11

The Renaissance on Kimbark, 6457 S Kimbark Ave, is Phase IV in a series of Woodlawn developments. According to sales agent Hasani Steele’s website,

Phases I, II, & III sold out in record time averaging 35 days on market, per Multiple Listing Service (MLS). Phase IV is currently 50% presold with construction underway at 6457 S. Kimbark, delivery is on schedule for September 30th, 2010.

The day is doubtless not far off when you’ll read a similar claim about the rapid sales of the current Renaissance on Kimbark, “per MLS” being the operative phrase. Remove that phrase and what you have is a blatant lie. Add it back and you have deceptive flimflam that’s indistinguishable from a lie to people of integrity.

Pre-marketing for Phase IV began in 2009, according to sales agent Hasani Steele. Steele represented both the seller and the buyer in the purchase of the land for Phase IV, 6457 S Kimbark. That sale closed on June 22, 2010 “per the MLS.” Steele crowed that “We sold it before print!”

Steele was actively selling Phase IV before the land was acquired by Premium Builders, having listed Unit 1N in the project in January of 2010, and Unit 1S in March of 2010.

Unit 3N was listed in the MLS in April of this year, and Unit 2N in May. Unit 3S was listed on September 6 and is said to be under contract. Unit 3N is in Contingent status, apparently as of September 23, the date on which Unit 2S was listed and described as “the last unit remaining.”

I couldn’t find a record at Redfin for Unit 4N. Unit 4S was apparently placed in the MLS the day it closed – a great way to keep the average days on market number low.

Let’s recap. We’re describing a project that’s been marketed for two years and whose units have been selectively dribbled onto the MLS over nearly a two-year period. What’s the honest way to report the market time for selling out these 8 units? Assuming the last unit sells quickly, I’d say “two years.”

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