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Sales consultants at two new South Loop developments — Chieftain Group’s Lexington Park Condominiums high-rise (at right) and Centrum Properties‘ Lofts at Roosevelt Collection (at bottom) — say their projects should be far enough along by May to open models and begin closing units.
Britta Rivera of Chieftain said last week that the Lexington Park tower, located at 2138 S Indiana Ave, should be ready for occupancy by the second week of May. One- and two-bedrooms in the tower have 656 to 1,346 square feet and are priced from the $230s to the $410s.
The development’s 36 soft lofts, 25 of which are still for sale, are already finished and ready for delivery. Those units one- and two-bedrooms have 1,068 to 1,645 square feet and are priced from the $480s to the $720s.
Meanwhile, the Lofts at Roosevelt Collection, 150 W Roosevelt Rd, should have a model finished by May, but closings may not start until sometime in June, says sales consultant Jeremy Forman. Construction has shifted from the exterior of the collection’s two mid-rises to interiors and to the development’s central plaza and park. The new intersection of Roosevelt Road and Wells Street should open in May or June, Forman says. (I’ll get some photos of its progress the next time I cab it down to the South Loop. A good parking space is hard to find around this development.)
Roosevelt Collection is still about 56 percent sold, and prices are holding steady at low $300s to the $650s for one- and two-bedrooms with 759 to 1,497 square feet.
The one thing on which Forman wouldn’t speculate is when Roosevelt Collection’s first stores and restaurants would open for business. Plans call for 50 retail spaces comprising more than than 400,000 square feet of commercial space. A movie theater is set to anchor that space, but I don’t recall seeing any new announcements for other tenants lately.
NewHomeNotebook:
• Rate and review Lexington Park Condominiums
• Rate and review Lofts at Roosevelt Collection
Related posts:
- Roosevelt Collection open for business, accepting new tenants
- Construction checkup: Getting your fill of the Lofts at Roosevelt Collection
- Without retail tenants, Roosevelt Collection adds color to Roosevelt Road streetscape
- Construction checkup: Roosevelt Collection
- What's up with Lexington Park's tower?
{ 14 comments }
you’d think by announcing some retail tenants that would bolster some sales,,,,,any retail coming to the south loop is always good thing!!!
I thought David Barton Gym was coming to Roosevelt after leaving Block 37. But yeah, I find it strange that they haven’t mentioned even one other retailer to build up anticipation.
We took some pictures this weekend:
http://www.sloopin.com/2009/03/roosevelt-collection-to-open-models-in.html
We agree that it’s weird that they’re not announcing more retail. We would be shocked if they have 50% occupancy this first year. We just made that number up, but still…
Can I ask, who are the people behind sloopin blog sight? Is Yochicago affiliated with sloopin.com? It sure looks you are using the same information.
We’re not affiliated, although we read and link to a lot of YoChicago content since they cover the South Loop extensively.
From our perspective, real estate and development are a big factor in the South Loop’s recent growth. As a result we like to keep our readers up to date on these happenings.
So who are the site authors and owners? I would like to find out more.
Jeff,
It’s a simple matter to do a whois search on sloopin.com.
Thanks Joe, you can continue to teach new dogs new tricks! thanks
As to Roosevelt collection, was talking about this with a few residents and agents. Main conclusion is that the success of the commerical space is going to be the price of parking (regardless of your theories on transit oriented development and the scourge of the automobile).
For me it is not a problem to hoof, but for some lazier, it is not currently the ideal walking location. If they do something along the lines of UIC’s Maxwell Street for $2 per hour, people may go for it. If they try the “Standard Parking” $10-$15 per hour rates, the commercial viability of this place will sink faster than the Titanic.
For a great deal of local residents, it is just as easy to get on 103/104 on Mich Avenue and goto North Michigan Ave. As well, with Target offering free parking, this will be interesting how this all works out. The reality is that people are just that picky.
It’s going to be weird, to say the least. The cinema is all the way in the back, so it’s not going to be a pleasant experience walking past lots of empty retail spaces just to get to the theater. Unless they’re not expecting a lot of pedestrian activity, in which case I’m guessing there will be an entrance from the parking garage or something.
Also, I’m not sure how cool it is to post whois info. Obviously anyone can get that info, but I’d rather not make it even easier for people who might abuse such info.
Anon1,
Note that I only posted a link.
Many domain names are owned anonymously. That’s still an option for this site, so if the site owner is concerned about it he can anonymize the registration and my link will provide no info.
I’m far more concerned about the sites that operate anonymously, without being transparent about their motives and identity.
Anon1, are you affiliated with the site?
I like the idea of a South Loop blog, and from what I have seen thus far it mimics much of its information from Yo, while also occassionally posting here. So naturally, I was inquiring if this was a branching out of YoChicago. It struck me as odd, knowing how much time these guys at Yo put into researching their material, videos, etc.
However, when they start posting using the terms “We”, (and as that site has no reference to who is owns it) it makes me think of the intentions to grow from a blog some guy started, to putting out something more commercial down the road.
Good luck with that. However, it is only fair to inqure the affiliation of the BLOG owners who are posting their own information and others, to understand what other connections or organizations they may belong to (i.e. community group, commercial entity, etc.)
I’m wondering if there will be a pedestrian entrance from the north? (like if you were walking from Printer’s Row) Or is the only way to enter the retail area on Roosevelt?
Smitty,
Check out this rendering at the site and you can see how the shops connect from the north. There’s a larger version of the rendering in the brochure (PDF file).
Joe, will be interesting to see how this is done with out the tower
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