We’ve been following the progress of the development now known as Lincoln Park 2550 for quite some time.
It’s been nearly nine years since a previous developer, American Invsco, announced that Lakeview on Lincoln Park was 30% sold prior to its debut party.
In March of 2007 a new developer, Ricker-Murphy, launched the sales effort for 312 units at the renamed Lincoln Park 2520. In June of 2008 the sales staff was reporting that sales had passed the halfway point for a project then expected to encompass between 220 and 250 units.
Yesterday’s Crain’s Chicago Business (registration required) reported that the recently-completed development, now known as Lincoln Park 2550, has 110 of its 218 units under contract.
Crain’s quotes Tere Proctor, who is heading up sales for the development:
I think now that the market is on the way up, now that the building is built, now that we have an opportunity to bring people into this building, our challenge is to get them here because once they arrive to 2550, it sells itself.
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