The last ten residences at the Penthouses at Grand Plaza, 545 N Dearborn St in River North, will be sold at auction on Thursday, August 26, says Bud Blinick of the Chartwell Group.
The condos will be sold at reserve prices of $345,000 to $775,000, down as much as 53 percent in some cases from recently published prices of $652,900 to $1.3 million. Grand Plaza’s developers have directed Chartwell to guarantee the sale of five residences at or above reserve.
Grand Plaza’s penthouses, located on floors 32 through 37, range from two-bedroom / two-bath homes with 1,230 square feet to three-bedroom / three-bath duplexes with 2,500 square feet. The homes feature large balconies with views of the city and the Chicago River.
All residents at Grand Plaza have access to amenities like a swimming pool, eighth-mile running track, fitness center, business center, Club Nine Lounge, library, media room, 24-hour door staff, and retail tenants including a Grand Plaza market by Jewel/Osco and a Bed Bath & Beyond. The building is surrounded by an array of popular restaurants, shops, and nightlife spots, and is just steps from bus stops and the Red Line.
Financing options for owner-occupants, second-home buyers, and investors are available. Lenders will be available at open houses to discuss various loan packages and to pre-qualify buyers.
Open houses for the 10 remaining penthouses and Grand Plaza’s amenities will be offered from noon to 4 p.m. Saturdays and Sundays, and from 6 to 9 p.m. Tuesday, August 17 and 24, and Thursday, August 12 and 19. The auction will take place at 7:30 p.m. August 26 at the James Hotel, 55 E Ontario St.
For mroe information about the upcoming auction and pre-registration, call 312-644-9200 or visit ChartwellGroup.com or GrandPlazaPenthouses.com.