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When it first hit the market in the spring, the six three-bedroom condos in Sky Life, which is located at 925 N Larrabee St, at the boundary of Cabrini-Green and River North, were priced from the $690s to the $790s.
Since then, there have been two “meaningful price drops” of $20,000 and $30,000, according to Karen Biazar from North Clybourn Group, and the prices now run from the $640s to the $740s. Biazar says the price reductions make Sky Life one of the neighborhood’s best bargains.
On a price-per-square-foot basis, the top-floor unit has been reduced from about $363 to $340, and the second- and third-floor units have been reduced from $317 to $295.
As I noted in a previous post, the name “Sky Life” refers to the skyline views (or “jawdropping vus,” per the listing) to the east, which look pretty nice in the photo below. All of the homes have access to outdoor space and heated garage parking.
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{ 3 comments }
To us old-timers “meaningful” price drops are 10% or more.
Those are great views (or vus as the case may be). But this isn’t on the border of anything. That is in Cabrini-Green.
I agree with Kevin… I would say the Sky Name’s is more of a suggestion to the owner to only look up to the sky. Because if you look down, all you will see is hundreds of row homes and cabrini gang activity.
Another valid point is, that long term when more cabrini public housing finally closes (which the future owners are banking on), the chances of a couple buildings over 4 stories is likely. This would kill these coveted views that may entice buyers now. The developer better hope there are still suckers out there, because this shouldn’t sell for over $500K.
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