ChicagoDowntown / Loop

Is this the last close-out sale at 200 North Dearborn?

by Joe Zekas on 2/19/13

It’s been nearly six years since we wrote about a “clearance-style sales event” at 200 North Dearborn in the Loop, and we’ve revisited the project many times in the interim, sometimes in sponsored posts.

From an emailed news release received yesterday:

“With 83 residences closed in 2012, 200 North Dearborn is Chicago’s hottest selling condominium,” said Nicholas S. Gouletas, Chairman and CEO of American Invsco. Only three residences are still available in the 309-unit building.

Condo buyers need to act quickly to take advantage of attractive price discounts with 200 North Dearborn entering its final closeout phase. Cash buyers receive a 10-percent discount, Gouletas said.

“Savings on three remaining luxury residences at 200 North Dearborn range from $105,331 to $400,000 off the original pricing for cash purchases,” said Karen Howard, sales manager at 200 North Dearborn.

Unit 4602, an 1,165 square foot 2-bedroom, 2-bath is listed at $743,243, or $668,918 after the cash discount. That’s an eye-popping $638 a square foot before the discount, and it’s worth noting that Unit 2102 – the same size unit in the same tier – resold for $220,000 less than two years ago.

Unit 2703, an 870 square foot 1-bedroom, is listed at $339,965, or $305,969 to a cash buyer. Unit 3803, in the same tier, sold for $158,000 in April of 2011.

If this post tempts you to engage in Invsco-bashing, please bear in mind the plethora of anti-Invsco screeds that most readers will have already seen, and make an effort to be original.

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