Sales update: 200 North Dearborn
Posted 7/17/2007 by Andy Anderson
Several Yo readers were curious about the upshot of American Invsco's plan to unload condos at 200 North Dearborn at a one-night-only sales event last Thursday. About 80 of the development's 309 units were sold that night, according to Stefanie Neuman, sales manager for 200 North Dearborn.
The event, which was held at Century Tower, featured a countdown-style start, at which point the prospective buyers used personal digital assistants to select their units and make their purchases.
Although she wouldn't say if the night's numbers measured up to their expectations, Neuman said they were excited about the sales. "I think any developer in the city would be thrilled to have 80 sales in a night," she said.
Some of the current tenants of 200 North Dearborn, which is being converted from apartments, have also made purchases, bringing the total units sold to around 120.
Neuman said she expects the building's conversion to be completed sometime in late September or the beginning of October.
Comments
7/17/07
Jane said:
Wow, all this proves is that there are 80 stupid people in this city. I'll bet you could go in there next month, or maybe even next week, and get the same deal they got or better.
These people would also believe a car dealer who says a deal is good for "today only", never mind that there are 30 more of that model on the lot. When something isn't selling, prices aren't going to go UP.
7/18/07
Vito said:
I do not defnt American Invsco, but what exactly do you do for a living…? I bought at Century and made a killing.. and I expect to make the same think here at 200 N. Dearborn, also take in consideration the foreign exchnage eefect which allows foreign buyers from EU to purchase a bulk of real estate at 40% of the mkt price.
Before someone speaks they should think twice
7/19/07
Jane said:
40% of the market price, what exactly do you mean by that? The currency conversion rate? OK, well I could buy a house in Wanker County Iowa for about 10% of what it would cost in my neighborhood here, but so what? Would I want to live there? Also, its not like they'll make more money if they sell it right away, since the selling price will have to be in dollars. That makes no sense at all. Good luck making a killing here, I don't think you'll find the market as rewarding as it was for you last time. The days of making easy money condo-flipping are over.