A few months ago, the prospect of “living free at Marquee” until 2009 might have sounded appealing. But with the new year exactly seven weeks away, it doesn’t sound like much of an incentive at this point.
Sedgwick Properties and Jameson Real Estate have wisely phased out the “live free” deal at the 25-story, 208-unit high-rise at 1464 S Michigan Ave in the South Loop, and are replacing it with something Realtor Akos Straub calls “a guarantee of appreciation.”
From what I can gather, the “guarantee” basically amounts to a 3-percent credit toward the purchase of a home, which means Sedgwick can discount its remaining one-, two-, and three-bedrooms without actually changing their listing prices. Based on my calculations, that credit could amount to more than $7,000 to almost $15,000, depending on the unit.
Jameson is listing just nine condos at Marquee on the MLS – one for each of the building’s remaining floor plans – but the developer still has as many as 28 units available, Straub says. Those homes include one-bedroom / one-baths priced in the $240s, a two-bedroom / one bath priced in the $280s, two-bedroom / two-baths priced from the $330s to the $370s, and three-bedroom / two-baths priced in the $490s.
Several resales are also listed on the MLS including four 24th-floor three-bedrooms priced from the $840s to the $940s.
– Rate and review Marquee at NewHomeNotebook.com.