ChicagoDowntown / Loop

Trio sells for above-condo prices

by Joe Zekas on 1/30/14

Crain’s Chicago Real Estate Daily reports that the 100-unit Trio high-rise and a number of units in the mid-rise portion of the project have been sold to a New York-based investment group.

The estimated sale price was approximately $40 million, an indication that Chicago apartment values aren’t yet victim to the bubble feared by Crain’s Joe Cahill.

We walked through one of the mid-rise units several years ago while they were for sale at prices ranging from $200K to $360K – well below the per-unit selling price of the project as a rental building. The units were withdrawn from the for-sale market, according to a source at the time, because ownership determined they “were worth more as rentals than as condos.” Good call, it appears.

Share:
  • Facebook
  • Google Buzz
  • Digg
  • LinkedIn
  • StumbleUpon
  • del.icio.us
  • Google Bookmarks
  • Live
  • Posterous
  • Reddit
  • Technorati
  • Tumblr
  • email

Related posts:

  1. Condo sales, prices surge in West Town
  2. Trio apartments, 670 W Wayman St, Fulton River District
  3. Prices drop on Chestnut rentals in Streeterville
  4. Phase I of Cornelia on the Park sells pre-construction
  5. Prices fall to $160K on new South Side homes

Leave a Comment

Previous Post:

Next Post: