Glashaus aims for spring 2009 deliveries
Posted 4/18/2008 by Joseph Askins
Just as reader Luke suggested earlier this week, it looks like Piedmont Group plans for deliveries to begin at Glashaus sometime next spring.
News of the Brininstool & Lynch-designed tower at 1327 S Wabash Ave has been hard to come by lately. We hadn't written about it in almost a year prior to this month's construction update, and Piedmont hasn't updated the "news" section on the project's Web site since February 2007. Glashaus ads are running in local publications, however - I noticed one featuring a Nelly Furtado clone in today's RedEye - so the developer and @properties may be gearing up for a big summer push.
The moving dirt we showcased last week has led to actual foundation work, says @properties consultant David Wiencek. If things go as planned, buyers should start moving in about a year, he says.
Wiencek also passed along the latest price points, which differ slightly from what we've reported in the past. They are:
- One-bedrooms from the $230s to the $330s
- One-bedrooms with dens from the $270s to the $340s
- Two-bedrooms from the $310s to the $440s
- Penthouses from the $450s to $1.1 million
Comments
6/3/08
Luke said:
Looks like true construction will not begin here at GlasHaus until this fall. So for those that are passing by wondering why no activity, there's your answer.
6/13/08
John said:
Luke - just wondering if you got that from David at @properties. Probably means delivery for Spring 2010 and not Summer Fall 09? Just wondering.
8/21/08
Luke said:
That's the news coming from the Piedmont Group. I ran into the VP at the sales center when I was picking out my electrical upgrades.
As far as the number of units sold, I have figured 101 units sold since 7/10/2008. Seems the South Loop market has slowed a bit since last year when I purchased.
Have you bought into the blue glass box John? If so, what tier?
The GlassHaus lot is turning into a weed garden. And by weed I mean wild plantation growth.
Joseph Askins said:
Luke:
Could you divulge your methods? 101 since July 10 comes out to about 2.5 units per day. If you don't count the Spire's 358 contracts that were made in the first quarter but recorded late, there were only 108 new contracts recorded in all of downtown during the 2Q 2008. Glashaus effectively doubling that in 42 days would be news indeed.
Katie said:
Do you all think construction will actually begin this fall? I drove by the site recently and can echo what Luke said above. My fiance and I bought a unit and are looking forward to moving in eventually…
Luke said:
Change "Since" to "As Of" July 10th. I didn't want to convey a major spike in sales, only the total number sold to date.
Sorry for the confusion.
As far as construction this fall is concerned, I am highly optimistic but my money is against Boivis actually getting in there and doing anything. Story at 11…
8/23/08
John said:
Luke-
I did buy into the blue glass box and like Katie said I look forward to moving in there, eventually. I bought 2310.
I'm not in Chicago but on Martha's Vineyard.. is Boivis the construction firm? Should I bother picking out my electrical on my visit this October!?
8/25/08
Luke said:
Bovis is the construction firm. I bought into 1507 and have already picked out my electrical. Might as well get it out of the way while you are in Chicago. Also, see what the sales folks tell you in regards to starting construction and if they still think Spring 09' is a reliable delivery date.
John said:
Will do.
The last time I spoke with David at @properties he told me the slow down was due to the permitting process with the city..who knows !?
John