Remaining stock at 235 Van Buren averages $365 per square foot
Posted 2/18/2008 by Patrick Rollens
Talk about a sharp rendering: This view of the Loop, looking north, shows how 235 Van Buren will fit into the existing skyline.
At Appraisal Research Counselors' luncheon last week, Gail Lissner pointed to 235 Van Buren as the absorption winner for 2007. Part of the building's initial appeal was pricing; the building went to market averaging just $325 per square foot, she said, which was reasonable for a Loop residence.
CMK Realty's Heather Gustafson provided me with an updated pricing list last Friday; several one-bedroom formats are completely sold out, and the remaining units average about $365 per square foot.
There's a studio unit available from $199,900, but the rest of the homes start in the $230s for a one-bedroom unit (no balcony) and range up to the $550s for a two-bed corner residence totaling 1,446 square feet.
That unit (the largest still available, according to the data CMK provided) breaks down to about $384 per square feet. Parking starts at $31,000.
Comments
2/18/08
jeff said:
Would you be able to e-mail me the pricing list that you got? Thanks!
jeff said:
And isn't $550000 by 1,446 square feet comes out to only $384/sq. foot?
Patrick Rollens said:
D'oh! You got me on the math, jeff. I've made the appropriate corrections.
10/12/08
Tanner said:
When will this be completed? And how much of a deposit must be put down (percentage) until completion?
aleks said:
CMK said that they are they are shooting for delivering 4 floors/month, starting in June 2009. I believe deposit is 5% - but I am sure it might be negotiable given current economic conditions.