We received a new e-blast from @properties over the weekend advertising two examples of price reductions at Silver Tower, the 40-story high-rise at 303 W Ohio St in River North.
Unit #2301, a north-facing one-bedroom / one-bath with 829 square feet, has dropped from the $330s to the $280s. Unit #1503, an 1,138 square-foot two-bedroom / two-bath on the tower’s southeast corner, has gone from the $480s to the $390s. Last month two @properties listings in the building were reduced by approximately 10 percent.
Two resales at Silver Tower popped up in October, one of which is a top-floor two-bedroom on the southeast corner. The 1,138 square-foot home is listed in the $530s, and has already seen one reduction of $10,000. At $475 a square foot, it’s priced well above the the other homes in its tier, although that may be expected given its penthouse position.
According to sales records from Cook County and Redfin, 61 of Silver Tower’s 233 homes closed between July and early December at an average price per square foot of just over $400. A price sheet dating back to August showed about two-thirds of the building under contract.