Big changes have been in store for weeks at Silver Tower, 303 W Ohio St in River North. We learned earlier this month that the building went into receivership following a $40 million foreclosure suit filed against Stonegate Development. Over the weekend, hints of “drastic” price cuts started spreading around Twitter and Facebook.
Some of those new prices surfaced on the MLS this morning with eight new one- and two-bedroom listings. @properties is out, Jameson Real Estate is in, a sales center is already open on-site, special financing plans are in place, and a few homes have already gone under contract, says Jameson Realtor Lindsey Delrahim.
A “was / is” sheet comparing Silver Tower’s new and original prices should be ready by tomorrow, Delrahim says, so consider the following a sneak preview of sorts, based solely on what I found on Redfin, Coldwell Banker Online, and our own archives.
- Tier 04: 728 square feet, priced in the $170s and $230s; at least 11 sold in 2009 from the $260s to $320s.
- Tier 05: 930 square feet, priced in the $290s; at least six sold from the $330s to $390s.
- Tier 08: 783 square feet, priced in the $230s; at least 11 sold from the $260s to $350s.
- Tier 09: 813 square feet, priced in the $240s; at least six sold from the $260s to $310s.
- Tier 03: 1,138 square feet, priced in the $320s; at least nine sold in 2009 from the $440s to $500s; one resale listed by Magellan Realty in the $430s.
- Tier 06: 1,080 square feet, priced in the $350s; at least six sold from the $380s to $410s.
- Tier 07: 1,190 square feet, priced in the $400s; at least 10 sold from the $410s to 550s; one rental listed by Coldwell Banker for $2,300 a month.